Another crypto exchange suspends withdrawals.Crypto exchange AAX blames the up to 10-day freeze on a system update gone wrong, citing the “failure of our third-party partner,” which caused some users’ balance data to be improperly recorded.
We believe that then, don’t we children?
Whenever people ask me about cryptocurrencies I simply quote your line in the Register about it managing to combine every mistake made in the history of banking with every mistake made in the history of computer security.
That’s not quite, not wholly, the line. Rather, it’s enabled us to see a rerun of every such mistake at warp speed. The underlying might – I don’t think so, but it might – be fine. But your version is good enough at this stage…..
NFT’s stands for non fungible tulips.
How do these companies so bugger up an update that a site is out of commission for 10 days ?
I’ve bolloxed plenty of systems down the years but usually had them fixed or rolled back an hour later
Otto.. Can’t roll back a blockchain… And every chancer will crawl out of the woordwork claiming they lost money because the Opportunities they used to $$ are Gone..
EVE Online has plenty of historical Salt on rollbacks, and that was before they Officially linked the ISK to Real Money through the Pilot’s License and micropayments.
Sone years ago I explained Bitcoin to Mrs Nerd, and concluded by saying I wouldn’t touch it with a bargepole.
I then concluded that that wasn’t enough, as I don’t have a bargepole.
So I asked her to get me a bargepole for my birthday, to be used specifically for not touching Bitcoin.
Had she been more co-operative, I assume the proliferation of these things would mean I’d now need a special shed dedicated to the storage of pristine bargepoles.
Here’s something I find weird about this blog – despite having commenters with all kinds of views and interests, including plenty of techie and generally anti-government ones, it’s mercifully free of crypto nutters. How come? They seem to be absolutely everywhere online, in apparent disproportion to their numbers. Streetwise Professor gets plenty of crypto muppets on his blog whenever he points out what’s wrong with them – all kinds of true believers who are taken in far more by the apparent technological change than the underlying economics. They just wail at him for pointing out why they’ll never get to see their dreams of decentralisation (Real Bitcoin has never been tried, all this recent bad publicity is due to failures at exchanges but Big Business should never have got inolvolved anyway, they’re as bad as Big Government etc etc – just oblivious to the basic economics of why people who want to trade a homogeneous good tend to congregate into exchanges) and smart contracts for everything (soon we will be able to write a smart contract for everything! But you can’t even write a boring old normal contract that covers everything).