Malleability problem addressed by Justcoin already ? How long for Bitstamp and Mt Gox to fix their particular glitches ?
TL;DR Funds are safe and Bitcoin withdrawals are back to normal
The following post is quite technical, simply because Bitcoin is very technical.
Like Satoshi Nakamoto, the creator of Bitcoin, wrote back in 2010, we've been learning the last few days that Bitcoin is an experiment still in its early stages. A quirk in the Bitcoin protocol, transaction malleability, causes transaction hashes to change from when the transaction is broadcast to when it is included in the block chain. Some exchanges, notably MtGox, had been using this transaction hash to track payments, possibly causing them to mistakenly refund payments that had actually gone through. One or more users of the Bitcoin network noticed this and set up a relay node that would purposefully change the transaction hash of every transaction they heard about and re-broadcast it.
Because Justcoin does not track withdrawals using transaction hashes, things were looking pretty good for us. But it didn't take long until also Bitstamp shut down their withdrawals. I started to get worried. Looking at the Bitcoin developer chat the problem seemed to be with spending unconfirmed change. At this time I stopped automatic withdrawals from Justcoin and announced it on our Twitter account,@jstcoin. Since then we've been running withdrawals manually every few hours, always checking on the health of our wallet before proceeding.
Already on Monday, a fix was proposed by Wladimir J. van der Laan and accepted by the Bitcoin core developers:
I spent most of yesterday testing and applying this fix to our servers. Today, I've been running a tool created by Gavin Andresen to fix a small number of transactions in our wallet that were not confirming for a long time. Things are looking good and we have resumed normal withdraw schedule.
Thanks to the Bitcoin core developers, pool operators and several other exchange operators who have been staying up late and working together to share both problems and solutions.
( Convenient - anyone buying this one ? )