Dogecoin Has Forked Up – Update Client Immediately

A fork has been found in the Dogecoin blockchain, and we recommend holding off any transactions until this issue is fully resolved.

This means that the blockchain, which is responsible for logging all transactions made on the Dogecoin network, has split apart. This means that transactions currently being made will appear on only one of the blockchains.

Eventually, one of these completing blockchains, the one that turns out to be correct, will ‘win’, and only transactions that were recorded to that blockchain will eventually go through. This leaves users at an extremely high risk of losing any transactions made during this period.

Right now, the best thing you can do is  update your client to the newest version, and remain calm. This issue will be fixed, just as the other previous forks have. This is not the time to panic sell, despite the price of Dogecoin dropping. It will recover, and everything will smooth out very soon.

Until then, try to keep Dogecoin transactions to a minimum.

Why Bitcoin Is Dropping – Two Major Exchanges Halt Bitcoin Withdrawals

Bitcoin is going through a rough patch right now, with a major security issue causing a temporarily halt in all withdrawals on two popular Bitcoin exchange websites, Mt. Gox and Bitstamp.

A bug in the Bitcoin network has been discovered and exploited, allowing criminals to commit refund fraud when attempting to withdraw Bitcoins from the exchange services.

The bug in a rather specific way. As we know, all Bitcoin transactions are publicly available on the Bitcoin blockchain. Exchange services use this to verify that withdrawals have successfully been completed.

Criminals have found a way to, in a sense, duplicate the information in the blockchain after making the initial transaction. Of course, only one of these will be verified, which leaves one that is left unverified. This tricks the exchange into thinking that the Bitcoin was not successfully sent, so the exchange sends the payment again. This has resulted in thousands of Bitcoins being stolen from the two exchange sites.

Other exchanges have already designed ways to stop this from happening, and while both Mt. Gox and Bitstamp have plans in mind to stop this bug from being exploited, they are forced to halt withdrawals until the issue is fixed.

This issue has caused Bitcoin to fall down to $620, only half of what it was less than a year from now. The price of Bitcoin is expected to rise when the blockchain exploit is fixed within coming weeks.

Warning: Do Not Put Money Into Cryptsy Right Now

Note: Delays appear to have shortened up, but are still there. Trading on Cryptsy can still be used, but it may take a while for your coin to come through.

There has been a lot of drama surrounding the popular cryptocurrency exchange Cryptsy right now, and the issues have arose to the point where we recommend avoiding the exchange altogether for the safety of your money.

Several users, including myself, have put large amounts of coin into Cryptsy, and have yet to see it credited into our accounts. While no service is ever perfect, several users have reported waiting more than 72 hours for their coins to show up, with coins still not being desposited into their accounts.

Cryptocurrency prices can fluctuate dramatically in a short period of time, so it’s extremely important that people can use the exchange as quickly as possible, however, Cryptsy is making this impossible. Users are getting frustrated with the unexpected delays, even going as far as boycotting Cryptsy altogether.

“I have already taken all the coins I could OFF of Cryptsy and when I get these back(should EVENTUALLY) I am bailing on them 100%. I’m enthusiastic about the cryptocurrency movement but as an educated businessman, the quality of service in this ‘industry’, particularly with exchanges, has got to be near-perfect at all times or the whole thing will not be taken seriously by the mainstream. Exchange and transfer failure are intolerable in an exchange infrastructure.”

With the price of Doge surging upward, investors are losing a ton of money while their coins are being held somewhere in cyberspace. Although Cryptsy has a ticket system for any complaints or issues that may arise while using their service, staff have been seemingly slow to reply and offer little desire to control the situation.

For now, we recommend  avoiding Cryptsy all together, and using other exchange services such as or Coined Up.