/biz/ - Business & Finance

[Anonymous No.13568034]

Am I the only one who thinks they have been pretty professional about it?

Apart from, lol, git gud, dont get hacked noob, what else were they supposed to do?

Plus points:

Proper Hot & Cold wallet/storage as all exchanges should.

Proper and constant communication during the crisis and seemingly no attempt to hide things (ie, first making a "scheduled maintenance for a week, then have the news come out). You know, the thing admiral purplehair didnt do.

Fund to cover black swan events already in place.

Probably due to anger, CZ flying an idea regarding the rollback, but, as every good CEO, after actually consulting and getting advise from those around him, immediately understanding the wrongness of the idea and change their mind. Not even whine "i wanted to do it but they didnt let me" or something.

[Anonymous No.13568058]

He's solid, compare this to Quadriga

[Anonymous No.13568060]

>>13568034
>CZ flying an idea regarding the rollback,
The fact that he considered it makes me question his intelligence.

[Anonymous No.13568068]

>>13568060
>rollback bitcoin

[Anonymous No.13568088]

>>13568060
At the very least he was transparent. That's what was important.

[Anonymous No.13568092]

>>13568034
The rollback and the fact that he tried to pass it off as unexpected maintenance at first.

[Anonymous No.13568114]

>>13568034
https://www.youtube.com/watch?v=fk6bPigf-sQ

[Anonymous No.13568139]

>>13568088
Who, on their own volition, after a day of wage cucking, comes to biz to write about how great that Chinaman is. Fuck off pajeet, It's going to come crash down.

[Anonymous No.13568142]

can this shit moon back to 0.0046

[Anonymous No.13568147]

>>13568060
Question his composure. No one has intelligence during a successful cyberattack on their livelihood. Dude lost composure and did the knee jerk, "what can I do with muh power" thing that any CEO who loses it would do.

[Anonymous No.13568166]

>>13568139
Yes. Because at that point they were probably still figuring out what was going on. Just because they have seen a large transaction at that point may not even know if it was legit or not.

4 Hours later he said the truth.

4 hours.

[Anonymous No.13568225]

>>13568034
>CZ flying an idea regarding the rollback
LMAO that CZ nibba went full retard

[Anonymous No.13568242]

>>13568225
but on another note, maybe he is in possession of a localized entropy reverser, fucking dank

[Anonymous No.13568263]

IM NOT GOING TO HELP YOU TO CARRY A BUSSINES FUCKING BRAINLET

[Anonymous No.13568264]

bought a bag during the dump not much around $5k let's see how this turns out.

[Anonymous No.13568284]

They lied and said it was unscheduled maintenance. Waited 8 hours to say JK WE GOT HACKED

[Anonymous No.13568293]

>>13568139
Threadly reminder that smaller exchanges have recovered from worse.

[Anonymous No.13568414]

In terms of exchange ceos he's pretty stand up. And embraces memery so how bad can he be really. I find him very likeable and transparent generally.

[Anonymous No.13568434]

>>13568284
proof???

[Anonymous No.13568685]

>>13568284
Yes, well you wouldn't start shouting about getting hacked before confirming that was actually the case, would you? Informing people that something has happened and they are looking into it and keeping everyone informed as they themselves get to know more is pretty fucking standard practice in a potential crisis situation, faggot.

Crying about hackers straight away is like blaming ISIS every time there's a gas explosion or any major accident.

[Anonymous No.13569151]

1000 ONT + 150GAS for 100BNB anon here. Just a daily reminder that The BNB Pump will be akchually and unironically tremendous

[Anonymous No.13569168]

>>13569151
i sadly own bnb too are you sure this shit will moon i want to sell at 0.0043

[Anonymous No.13570094]

>>13568060
Just fuck off dude. Him and his team would have been in complete panic mode and emotions would have been running high. I think just about anyone who had $40 million stolen from them would at least consider the possibility of getting it back, who cares if this is crypto or not.

The thing that has been most impressive has been their transparency and the speed at which CZ announced all this. I don’t really see how it could have been handled better.

[Anonymous No.13570230]

>>13568060

Why?

All he needed was 5 big chink players to 51% attack and doublespend lol

As any good ceo exploring options is key what should scare you is IT CAN BE FUCKING DONE

Literally nothing will happen this berafags and bullfags are all just emotional "binance hack" will be blip as last hack, we just learned is we can get chinked anytime.....

And fact btc is not decentralised and immutable not being priced in tells you all you need to know about market.....

Tf. I still have 10x long since 3400$ lol....

[Anonymous No.13570244]

Oh yeah and worst thing about all this shit are twitter accounts with cats in space suits and #HOLD hashtags
making fun of CZ for such dumb idea that cant be done

Ofc it CAN be done

SO fucking crynge

[Anonymous No.13570264]

>>13570094
You are a good goy, aren't you?

[Anonymous No.13570301]

>>13568092

In all due respect, sir. I very well think this type of event classifies and warrants “unscheduled maintenance”. Do you even understand how irresponsible it would be not to go into unscheduled maintenance? lmfao fucking Kek

[Anonymous No.13570313]

>>13570230
You quite literally understanding nothing about mining and probabilities. You can’t just ask a pool for hashpower, a pool is comprised of individuals who can point their hash wherever they’d like. Not to mention the hacker would be able to bribe miners just the same as CZ if people were purely profit motivated. The ability to re-org blocks after attacks gets exponentially harder. At the time of the tweet it was ~70 blocks. To re-org 70 blocks in a row succesfully with 51% hash is a 0.00000000000000000084703295% chance. It is fucking near impossible to 51% attack bitcoin in its current state. It is the most decentralized and immutable mand-made ledger this world has ever seen. Don’t talk about things you know nothing about.

[Anonymous No.13570321]

>>13570313
Sorry a
0.000000000000000000033877576% chance*

[Anonymous No.13570335]

Company insiders stealing Bitcoin and then pretending to be transparent on Twitter when they're the ones that did the crime is very professional

[Anonymous No.13570342]

>>13568034
go back you astroturf motherfuckers

[Anonymous No.13570346]

>>13568034
No, you and all of the astroturfers on crypto twitter/reddit love CZ and his shady chinese exchange.

[Anonymous No.13570371]

imagine actually thinking that this isnt a big ploy to lock up everyones funds and keep this ship from sinking.

>binance "hack"
>bitfinex BTC premium dropping
>everyone scrambling to keep tether afloat

but OP knows this and is a paid shill poster

[Anonymous No.13570373]

>>13570313

AHAHAHAHAHAA

>hacker would be able to bribe miners
You for real????
This is so retarded on so many levels its like stealing from policeman and trying to bribe everyone in police station
>IF people were purely profit motivated
Ok you are larping
>To re-org 70 blocks in a row succesfully with 51% hash is a 0.00000000000000000084703295% chance
ITS LITERALLY 100% YOU FUCKING APE do you understand basic of 51% attack???????????


>#HOLD #LAMBO

[Anonymous No.13570378]

>>13570373
Subhuman, troglodyte tier bait. Go post some more BSV threads

[Anonymous No.13570396]

>>13570378

Every deluded maximalist when gets hit with facts in head ends discussion whit this BSV crap

Not all of us thinking anons cares for your stupid forks and wars

P.S: I got more btc than you btw....

>#HOLD #LAMBO

[Anonymous No.13570421]

>>13568034
>>13560643

[Anonymous No.13570424]

guys nobody rolls back something like this with 51% attack you roll it back with a hard fork that counts transactions in block invalid and outputs unspent. get 51% of miners onboard and you got your coins back however it would destroy bitcoin.

[Anonymous No.13570436]

>>13570424
A hardfork and a re-org are two very different things. You don’t need majority hash power to fork. CZ was claiming he was looking into Re-orging.

[Anonymous No.13570447]

>>13568139
>Have to perform some unscheduled server maintenance
They did
>Deposits and withdrawals affected
True
>For hours
Well it's been >1 hour, so true
>No need to FUD, funds are safu
Provided everyone with crypto held on the exchange doesn't lose even a Sat, this will be true also. If Binance eat the loss then literally everything in this tweet is accurate

[Anonymous No.13570458]

>>13570313
>what is a 51% attack; the post
They just need the longest chain (without a checkpoint). That means over time, because they have more hash power they will add more blocks to their chosen chain than everyone else will add to their chain

[Anonymous No.13570511]

>>13568060
Have you even read how the idea came about? Some semi legit twitter tard told him it was an option and he fell for it in the midst of the shitstorm. Then when he asked his ‘advisors’ they told him no it would destroy bitcoins reputation and that it was impossible anyway

[Anonymous No.13570532]

>>13568293
They should give Btc value not usd

[Anonymous No.13570594]

>>13569168
We’re all gonna make it bro

[Anonymous No.13570915]

>>13568293
Binance should be on there twice for 7,000

[Anonymous No.13570929]

>>13568034
The most important thing to notice about this situation is that Binance had a fund made from the very beginning to account for this possibility which is a very good and safe business practice. It might be a chink exchange but they know what they are doing.

[Anonymous No.13570930]

we are having regular maintanance..
..oh wait we got hacked

[Anonymous No.13570938]

good moment for accumulating more

[Anonymous No.13570979]

>>13570532
BTC value doesnt really matter though because it varies so much. The chart would be pretty useless. Value in USD is what will put a company out of business since its still the primary choice of currency for every day expenses. If BTC is worth $2,000,000 per bitcoin you could bankrupt a company by stealing 100 of them. If BTC is worth $100 you could steal 100,000 BTC and it wouldnt be as bad as losing the 100 BTC in the previous example.

[Anonymous No.13571001]

>>13568034
I still believe this is an inside job to show that CZ can handle scammers to pump his coin.

[Anonymous No.13571008]

>>13570930
You dont want to come out and say we got hacked until you are absolutely sure. However, due to the nature of the hack, shutting down withdrawals ASAP was crucial. A temporary vague explanation, which technically was not a lie(“unscheduled maintenance”) was really his only option. If he said nothing people would freak out, if he said “we got hacked” and it turns out they didnt people freak out and lose trust in him. It took him a few hours and he came out with the truth. I really dont see any other way he could have handled it better.

[Anonymous No.13571148]

>>13571008
A lot of people on this board hate binance, it's not a matter of what happens or how CZ manages it, some of them were in full denial while BNB coin was skyrocketing.

[Anonymous No.13571155]

>>13568034
yep, locking up millions of accounts for a week is the pinnacle of professionalism

[Anonymous No.13571189]

>>13570532
You people obsessed with measuring everything in sats are retarded. I am a believer in crypto being the future, but I am not deluded enough to think that BTC is a better MEASURE of value than USD. If you do, you are peak fedora wearing, katana carrying, fat wrist with a rolex having, neckbeard weaboo faggotry.
>Pro-tip: measuring your investment gains in sats is also a garbage strategy if we are in a bear or crab market. You could be straight up losing money but still be gaining sats.

[Anonymous No.13571200]

>>13571155
Better than losing another couple thousand BTC, no?

[Anonymous No.13571287]

Listen goyim, to re-org the chain you need close to 100% of the miners to go along with you. Those miners will have to forefit their fees made and start mining the chain from before the hack. It's crucial that you secure close to 100% of the miners because the non conforming ones will keep mining and make the chain bigger while your miners try to keep up. Also it'll mean BTC will come to a halt. Anyway, it's very possible, but likely not going to happen, due to the amount of players involved, risk for those players, overall costs of the operation, and the implications.

[Anonymous No.13571289]

>>13568034
Been off for a while lads. Was it another case of some retard storing his password on a phone or was it an actual hack?

[Anonymous No.13571443]

>>13571287
Why are you even still talking about the re-org/rollback? CZ said it himself, its not an option. He is just going to pay it off from the SAFU fund. Get with the fucking program Schlomo.

[Anonymous No.13572286]

>>13568034
Binance's entanglement in Tether fuckery has been very professionally obfuscated by locking out customers and demonstrating retardation in general.

[Anonymous No.13572304]

are withdrawals still fucked? at work just now

[Anonymous No.13572316]

>>13571289
People getting phished for api codes/viruses stealing 2fa codes. Withdraws apparently done in a new way though.

[Anonymous No.13572498]

>>13570929
This fund only exists because they got hacked for another 7,000 BTC a few months ago, fuck off paid shill faggot.

[Anonymous No.13573206]

>>13572498
Why are you guys so obsessed with calling anyone with different views from your own a shill? I have defended CZs decisions over this hack and I am in no way affiliated with him or Binance. I just think anons are being unnecessarily hard on him/other anons, and many of the claims against him are a little ridiculous. Yes, there is a chance you will never see your Binance funds again, but CZ says they are safe and there is no real reason to doubt him yet. If a week goes by and shit still isnt fixed, then we can assume that money is gone. Until then, look at this shit rationally. Binance has made CZ more than $41,000,000 for sure. It seems to me the exchange is more valuable than an exit scam would be.

[Anonymous No.13573229]

>>13573206
>I have defended CZs decisions over this hack and I am in no way affiliated with him or Binance.
means youre just retarded

[Anonymous No.13573265]

the simple fact that he floated the idea like it was possible set a horrible precedent for the whole space and made it seem like a joke

[Anonymous No.13573318]

So when can I deposit and withdraw? How long is this shit going to take?

[Anonymous No.13573341]

>>13573229
Care to explain or are you just backing your stance with shitposts?
>>13573265
I agree that was a poor decision on his part, but to be fair the idea didnt originate with him. A bitcoin dev(I forgot who) mentioned the rollback to him on Twitter. When you watch his ama he said he wasnt even aware it was possible. Obviously if there is an option to not lose $41,000,000 he is going to look into it, but he really should have done more research before making a public announcement.

[Anonymous No.13573347]

>>13568034
Deluded bears, salty nocoiners and desparate creg cucks in meltdown. ALL my coins are on binance and I am comfy af.

[Anonymous No.13573373]

>>13573318
You can still deposit. The wallets still exist, and there is no way Binance can stop you from sending. Right now they just wont show you the deposit address. You just have to remember your Binance public key to deposit, though I think that would be pretty foolish to do considering the circumstances. Withdrawls will be available in about 6 days according to CZ. He gave a timeframe of 1 week the day of.

[Anonymous No.13573683]

>>13572316
No it was binance fault mostly

https://twitter.com/AngryBeur/status/1126383711803592704

[Anonymous No.13574538]

>>13568034
Just wait until you don't get your coins back

[Anonymous No.13574698]

>>13572316
you can't withdraw from the API to new addresses though, only to addresses that have been withdrawn to from the website and confirmed via email. Binance obviously has some issue to sort out if we choose to believe this was a real hack and not an inside job.

[Anonymous No.13574731]

CZ lost all his credibility on that tweet about rolling back BTC after asking Jihan.
Just look at BNB price, is obvious that investors are selling, they Dnt trust CZ rolling back BinanceChain, the money is moving to BSV, stable protocol, satoshi says, Inmutable

[Anonymous No.13575176]

This FUD was paid by the United States of American Government.
Remember lads, the presiden's word is the global LAW!