Repeated DDoS Attacks Force Coinkite Bitcoin Wallet To Close Down Web Service

An anonymous reader writes: Coinkite, one of the earliest Web-based Bitcoin wallet services, has announced plans to discontinue its service and focus on a hardware-based Bitcoin products, all because of a barrage of relentless DDoS attacks that has been plaguing the company ever since 2012. The company plans to focus on hardware-based Bitcoin products such as PoS terminals, USB sticks, and professional servers. "Being a centralized bitcoin service does attract attention from state actors and other well-funded pains-in-the-butt, and as a matter of fact, we've been under DDoS since the first month we launched -- over three years -- yay. Plus we have put real fiat dollars into our lawyers' pockets to defend our customers from their own governments. This is not what we love to do, which is coding and delivering awesome services," the Coinkite team explained.

Ethereum will have similar issues as it grow

[JcMorin]

I don't see how Ethereum would be immune to any problem related to fiat to crypto conversion. Right now there is none because most everyone buy bitcoin first then convert to Ethereum...

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[religionofpeas]

Presumably, if it grows, the site can be hosted on a sturdier machine and connection.

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[rock217]

Like that pesky cap on mining, inflation forever!

Sure, State Actors

[Luthair]

Instead of script kiddies and organised crime trying to make a buck with their botnets.

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[Luthair]

Because North Koreans have such great open access to the internet?

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[Luthair]

I hear black helicopters calling your name

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[sexconker]

I hear black helicopters calling your name

Black helicopters are silent. Turn in your tinfoil hat.

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[JcMorin]

DDOS are not solve by only blocking an IP address... the whole connection is saturated even if you block them...

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[Anonymous Coward]

It's hilarious to see "real fiat" together like that. It's like saying you have real fool's gold. I suppose it's a valid sentence, but still... what an oxymoron!

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[Anonymous Coward]

https://soylentnews.org/article.pl?sid=16/03/29/214241

i'll just leave that here

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[Luthair]

You know what else causes barter economies? Currency that fluctuates so much that you don't know what you'll be able to buy with your money after walking to the store.

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[thegarbz]

How odd they chose to use the very thing they've trying to get away from.

That's an interesting statement, implying that just because they provide a trading platform for someone, and methods to produce something that they actually want to get away from something else. What next, cattle farmers should be critisized for eating vegetables and chicken because clearly they are trying to get away from it by raising cattle?

Don't confuse the situation, these guys are not in the business to make bitcoins and they never were, just like shovel manufacturers weren't in the business of diggin

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[magarity]

How odd they chose to use the very thing they've trying to get away from.

Lolz, no, I assure you the lawyers are most certainly NOT trying to get away from "real fiat dollars". Quite the opposite, in fact.

professional servers?

[Anonymous Coward]

IT hint.
Next time start with halfway decent servers so the first time a customer visits, they don't kill your service right away.

DDOS for the past 4 years .... please!
Now focusing on POS terminals and hardware .... ohhh gawd, no!