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Gavin Andresen and Jeff Garzik: Mt. Gox is Wrong, Bitcoin isn’t Broken

Gavin Andresen and Jeff Garzik: Mt. Gox is Wrong, Bitcoin isn’t Broken

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Bitcoin core developers Jeff Garzik and Gavin Andresen have responded to Mt. Gox’s claims that there is a flaw in the Bitcoin software.

Mt. Gox issued a statement this morning (GMT), revealing it had suspended bitcoin withdrawals indefinitely due to a previously known technical issue with its custom wallet implementation of the Bitcoin core protocol.

Garzik stressed that Mt. Gox seems to be attempting to shift the blame for its recent failings onto Bitcoin and its developers.

“First and foremost, bitcoin is not broken. There is no fundamental flaw in bitcoin,” said Garzik.

 

He went on to explain that Mt. Gox’s issue is with a technical detail called transaction malleability, which has been known about since 2011 and even has its own wiki entry.

The Linux kernel engineer highlighted this point in another tweet this afternoon.

 

Garzik told CoinDesk: “There are certain security practices that sites like Mt. Gox need to follow. Most notably, customer support staff and related software must not assume that transaction IDs are unchangeable, prior to being confirmed in the block chain.

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This entry was posted on February 10, 2014 by and tagged , .

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