The Secret Life and Strange Death of Quadriga Founder

Bitcoin.org founder worried about Jihan Wu’s disappearance post Bitmain ousting - AMBCrypto News

Bitcoin.org founder worried about Jihan Wu’s disappearance post Bitmain ousting - AMBCrypto News submitted by ulros to fbitcoin [link] [comments]

Goldman Sachs Tells Investors Bitcoin Not Worthy of Investment

The recent announcement that Goldman Sachs would be holding an investor conference call event to further discuss inflation, gold and Bitcoin had captured the attention of the entire cryptocurrency industry. The investment bank called investors to discuss the “US Economic Outlook & Implications of Current Policies for Inflation, Gold, And Bitcoin”.
The meeting took place yesterday, on May 27, and while there were no specific details concerning the exact content and agenda prior to the conference, most believed the news of the call to be a positive sign for Bitcoin, and that Goldman Sach’s would officially declare the cryptocurrency to be a safe hedge asset against monetary inflation.
However, according to a leaked PowerPoint slide from the May 27 call, it is clear that Goldman Sach’s does not have a positive view of Bitcoin and the slide even seemed overly discouraging. What about Crypto-Spring? Despite recent Billionaire investor sentiment and the news of the coming fourth cycle of Bitcoin and the ensuing crypto-spring, Goldman Sach’s has made their positions clear. The investment giant states that Bitcoin and othercryptocurrencies are “not a suitable investment” for their clients and “does not constitute a viable investment” as a hedge asset.
This news came as a surprise considering that in a recent interview, CEO of Goldman Sachs, David Solomon revealed that Goldman Sach’s may even follow the footsteps of its competitor JPMorgan Chase in launching its own crypto coin.
Solomon further said that the bank has been performing extensive research on stablecoins and asset tokenization. In the interview, the Goldman CEO expressed his belief in the potential that cryptocurrency holds in enabling frictionless and quick cross-border payments. He said that banks must remain innovative, otherwise, they will disappear.
For now, it appears the Goldman Sach’s US Outlook call was not the boost to Bitcoin the crypto-community was hoping for, but there are still very positive signs that cryptocurrency investment is reaching a new level with the endorsement of several high profile investors like billionaire’s Paul Tudor Jones, Tim Draper, and Stan Druckermiller.
Alexis Ohanian, the co-founder of Reddit and early investor inCoinbase, commented on the Billionaire’s joining the crypto fray, he said, “It’s interesting to see OGs of Wall Street now getting into crypto and Bitcoin, it’s increasingly showing that it’s here to stay.”
submitted by kealenz to BitcoinMarkets [link] [comments]

Wife of Norwegian billionaire has been missing since Oct. 31st 2018. She is presumed kidnapped and/or killed. There was a ransom note left at the crime scene, demanding 9 million Euros in crypto currency. What happened to Anne-Elisabeth Hagen?

So.. I have been waiting for months for someone to write about this case here, and since no one has I suppose I’ll have to give it a shot. This is my first reddit post so mishaps are bound to happen, English is not my first language, apologies for any mistakes, etc… (is this a meme yet?) Edit: wow, holy crap! I didn't expect to be given gold! Thank you kind stranger!
Edit: I have added more to the bottom of this post to clear up some confusion or add more important information that I missed the first time.
Anne-Elisabeth Falkevik Hagen (68) is the wife of Norwegian billionaire Tom Hagen, an investor and co-founder of a company called Elkraft. They married young, only 19 years old, before Hagen made his fortune. Although Hagen is now one of Norway’s richest people, the 172nd richest according to financial magazine Kapital, he and his wife have seemingly led unassuming, quiet lives. From an outsiders perspective they seem like the kind of billionaires you could only hope to be if you ever found yourself in such financial luck, grounded and down to earth, living in the same house for almost 40 years, in a suburb of Oslo called Lørenskog. Tom drives a simple Citroën car. They are parents and grandparents. You would never look at them and think "ah, rich people!".
Their house looks like any suburban Norwegian home, there’s nothing flashy or noteworthy about it. No extra security surrounding the area either. There are no gated communities in Norway, but there are still security measures one can take, and probably should take if you’re that rich, and the fact that they hadn’t might have been one of the reasons Anne-Elisabeth was targeted.
This case reads more like a Hollywood movie than an actual crime case to me, because we don’t really have crime like this in Norway. The police kept the alleged kidnapping a secret until January 9th. Since then little pieces of information have come out or developments have happened in the case, but Anne-Elisabeth is still missing. The police now presumes she has been killed, perhaps even on the day she disappeared. Her family, who speaks to the media through their lawyer, still holds out hope that she might be alive.

I’ll try to keep everything precise and easy to follow:
November
Because of the threats in the letter, the police can’t go out with any information regarding Anne-Elisabeth’s disappearance. They have to work very carefully and quietly in their home to secure evidence from the crime scene. KRIPOS (The National Criminal Investigation Service) and ØKOKRIM (National Authority for Investigation and Prosecution of Economic and Environmental Crime in Norway) get involved.
The police finds traces of Anne-Elisabeths blood inside the house, as well as a shoe print. It is unclear whether or not the blood was from the day of the disappearance. The amount of blood found is reportedly “not unusual” because she lived there, which I take to mean it was very little.
Tom Hagen continues to go to work, people describe him as unsociable and desolate during this period. Neighbors are told Anne-Elisabeth is “away”, and family members are kept in the dark as well. At the end of November family members are starting to feel like something is going on. Finally they find out that Anne-Elisabeth is missing, and there are talks of a kidnapping. No one is allowed to say anything.
December
The investigation is still top secret.
January 9th
The police finally allow the media to talk about the case. Norwegian media have known about it for a long time but have been told not to say anything yet. The apparent kidnapping is announced in a press conference after 10 weeks of utmost secrecy.
A few days after the press conference, the police releases a video of the area around Tom Hagen's workplace. A man can be seen walking down the road next to Tom’s place of work at 7:36am on the morning of the crime. He then abruptly stops and turns around to walk back the same way from where he came.
24 minutes later, another man can be seen walking down the same way. He is passed by a cyclist, who has been identified. The two other men have never come forward. It has been theorised that these two men might have been a look-out of sorts.
January 16th
The family receives a new message from the person or people who claim to have Anne-Elisabeth. This message is recieved through crypto currency (bitcoin this time). I’m not quite sure how this works, but from what I’ve read it’s a difficult and insufficient way to communicate.
January 27th
The family again is in communication with the alleged kidnappers.
Some people find it curious at this point that these alleged kidnappers have been unwilling to communicate with the family during the ten weeks of secrecy, but now that the world knows, they are willing to talk. Who is behind this, exactly? Professional criminals who saw an opportunity after the article in Dagens Næringsliv was published and they realised the man in question lives completely unprotected? A family member? Enemies of Tom Hagen? Could it be Tom himself? Who would want to hurt this woman? Rumours are spreading.
February
The police advice the family not to pay the ransom unless they receive evidence of Anne-Elisabeth’s well-being. This is stressed in every press conference, both in Norwegian and English. The family is hopeful that proof will now be provided, seeing as the alleged kidnappers are now willing to talk, albeit very little. However, they receive nothing.
The police interviews a lot of people, including business partners of Tom’s.
April
After a long Norwegian winter, the police wants to search the lake right next to Tom and Anne-Elisabeth’s house. They employ a police dog specialized in search in water (the same dog who helped in the Kim Wall case). It’s unclear whether or not they actually find anything during this search. Certainly no body or anything like that.
May
The family decides to attempt contacting the alleged kidnappers themselves. They haven’t heard anything at all since January 27th. No evidence of Anne-Elisabeth’s well-being has been provided, and none is provided this time either.
June
The police officially changes their main hypothesis. They now believe Anne-Elisabeth was murdered, and not kidnapped for financial gain. They believe the ransom note as well as any evidence found in the house might have been staged to look like a kidnapping.
More surprisingly, the police officially cancels any further search of the two men seen in the surveillance video outside of Tom Hagen’s work the morning of Anne-Elisabeth’s disappearance. They still have not been identified and it is unknown why the police now believes them not to be involved.
July 8th
The family lawyer Svein Holden receives an e-mail from the dark web. It is written in Norwegian, and the writing style suggests that it may have been written by the same person who penned the ransom note. According to Svein Holden this e-mail contains information that only a perpetrator would know. The message of this e-mail is as follows: in order to receive evidence of Anne-Elisabeth being alive, the family has to pay.
It is again commented on by outsiders how odd it is that this message is received now, five months after the previous one, and right after the police changed their main hypothesis.
Tom Hagen decides to pay 1.3 million Euros in crypto currency. He receives nothing in return.
August
The shoe print found at the crime scene is sent for analysis to police all over Europe. German police finds out that the print belongs to a shoe by the brand Sprox, and is in European size 45. It is sold in Norway at Sparkjøp. The police now requests help from the public, and everyone who have purchased these shoes in cash is encouraged to come forward.
September
The cable tie left at the crime scene has been analysed and has been found to be produced in China and sold in Norway at Biltema.
Both Biltema and Sparkjøp are fairly common stores in Norway.
October
The police have now also analysed the paper the ransom note was written on and the envelope it came in. It was purchased at Clas Ohlson, another common store in Norway. All three stores tied to this case are located in Romerike, the district in which Tom and Anne-Elisabeth Hagen lives.
It’s closing in on a year since Anne-Elisabeth disappeared without a trace. The entire country is awaiting answers. The 25th of October would have been Tom and Anne-Elisabeth’s Golden wedding anniversary. On Thursday the 31st, 365 days have passed since this all happened. But it is not a Halloween tale, it is real life. What happened to her? Where is she? Could she still be alive after all this time?
Edited to add more information or clear up some confusing things:
I'll continue to update if I see common questions or there's anything else I remember!

Sources (unfortunately mostly in Norwegian):https://www.vg.no/spesial/2019/lorenskog-forsvinningen-ett-aa?maaned=sommer2018 https://www.vg.no/nyheteinnenriks/i/KvJ6lG/frigir-film-fra-forsvinningsdagen-frykter-ektemannen-ble-holdt-under-oppsikt https://www.dn.no/marked/tom-hagen/strom/eiendom/tom-hagen-tjente-174-millioner-pa-strom-og-eiendom-i-fjo2-1-387353 https://www.cbsnews.com/news/norway-billionaires-wife-anne-elisabeth-falkevik-hagen-being-held-for-ransom/
submitted by __moonflower to UnresolvedMysteries [link] [comments]

ID2020 partners

I've been trying to research ID2020s partnerships.
This article I've found
Is31j4T1np3sNk_gz4D8khmLT0_YBZY3mw8zoWSZubFY7iVJoPdRno1GSBB3C1zSANcBHwuLPlODPxSLPjzQouu4TkPi_ptY2wCf8VIo3Ft5PGGZU
'About the ID2020 Alliance
The ID2020 Alliance is an innovative public-private partnership committed to improving lives through digital identity. ID2020 is coordinating funding for identity and channeling those funds toward high-impact projects, enabling diverse stakeholders -- UN agencies, NGOs, governments, and enterprises -- to pursue a coordinated approach that creates a pathway for efficient and responsible implementation at scale. Alliance partners include Accenture, CARE, City of Austin, FHI360, Gavi, Hyperledger, IDEO.org, iRespond, Kiva, Mercy Corps, Microsoft, The Rockefeller Foundation, Simprints, UC Berkeley's CITRIS Policy Lab, and the UN International Computing Centre. '
Another scheme not mentioned above its everest.org https://www.globenewswire.com/news-release/2018/09/14/1571269/0/en/Everest-ID2020-and-the-Government-of-Indonesia-TNP2K-Secretariat-Announce-Innovative-Identity-and-Blockchain-Pilot-Solution-to-Enhance-the-National-LPG-Subsidy-Program.html
I have looked into everest.org but face value only. Their promo video is linking biometric ids to banking accounts and a new currency.
'Everest is a decentralized platform incorporating a massively scalable payment solution, EverChain, with a multi-currency wallet, EverWallet, and a native biometric identity system, EverID. Everest delivers a complete solution for a new economy.
Of everest 800,000,000 tokens 38% seed, pre sale and bounty 37.5% strategic partners, team members and advisors 24.5% community '
Looking into some like simprints, who merged with ID2020 in 2018 https://medium.com/id2020/the-id2020-alliance-is-thrilled-to-welcome-our-newest-partner-organization-simprints-a9e27d3b8a8c Some of these companies could of had honest beginnings but brought out by gates and his ID2020 to take the technology.
Accenture article about mandatory Microsoft
https://www.accenture.com/gb-en/case-studies/about/migrating-microsoft-teams
Hyperledge about page ' Permissioned blockchains differ from what you’ll find in Bitcoin or Ethereum. Most enterprise blockchain applications rely upon real world trust relationships, wherein the goal is to set up a set of participants in an ecosystem with the needed insurance that the boundaries are flexible enough to bring in more participants in the future. Participants on a permissioned network are known to one another, and therefore have an intrinsic interest in participating in the consensus making process. This community of participants want to share data with a greater degree of security. Without needing to run proof of work mechanisms, they can resolve more immediate problems than on a public cryptocurrency blockchain. Blockchains can be used to record promises, trades, transactions or simply items we never want to disappear. Mirrored exactly across all nodes in a given network, it allows everyone in an ecosystem to keep a copy of the common system of record. Nothing can ever be erased or edited. All businesses participating in a commercial ecosystem need a ledger to contain a record of transactions. It is vitally important to know that your copy of the ledger is identical to others’ in the network.'
Ideo. Org is part of Ideo.com who brag they created the first apple mouse requested by Steve jobs in the 80's.
Mercy Corp has a recent sex abuse scandal
https://www.npr.org/2019/10/18/771219833/mercy-corps-faces-sexual-abuse-scandal
With the ceo resigning in October 2019
https://www.oregonlive.com/news/2019/10/mercy-corps-ceo-neal-keny-guyer-to-resign-amid-turmoil-following-sex-abuse-allegations-against-co-founder.html
A lot of these that I'm trying to look into, honestly I'm not educated enough in vaccines, conspiracy or technology aside from the obvious such as Microsoft and rockerfeller.
Maybe there is nothing new there, or maybe there is, but if there is more I'm not the person to see it so turning it over here.
submitted by Daydreamernightmares to conspiracy [link] [comments]

Bitcoin 11 Years - Achievements, Lies, and Bullshit Claims So Far - Tooootally NOT a SCAM !!!!

That's right folks, it's that time again for the annual review of how Bitcoin is going: all of those claims, predictions, promises .... how many have turned out to be true, and how many are completely bogus ???
Please post / link this on Bitcoin (I am banned there for speaking the truth, so I cannot do it) ... because it'a way past time those poor clueless mushrooms were exposed to the truth.
Anyway, without further ado, I give you the Bitcoin's Achievements, Lies, and Bullshit Claims So Far ...
.
Bitcoin Achievements so far:
  1. It has spawned a cesspool of scams (2000+ shit coin scams, plus 100's of other scams, frauds, cons).
  2. Many 1,000's of hacks, thefts, losses.
  3. Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
  4. Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who "accept Bitcoin" immediately convert it into FIAT after the sale, or require you to sell your coins to BitPay or Coinbase for real money, and will then take that money. Some of the few who actually accept bitcoin haven't seen a customer who needed to pay with bitcoin for the last six months, and their cashiers no longer know how to handle that.
  5. Contributing significantly to Global Warming.
  6. Wastes vasts amounts of electricity on useless, do nothing work.
  7. Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
  8. It’s the first "currency" that is not self-sustainable. It operates at a net loss, and requires continuous outside capital to replace the capital removed by miners to pay their costs. It’s literally a "black hole currency."
  9. It created a new way for people living too far from Vegas to gamble all their life savings away.
  10. Spawned "blockchain technology", a powerful technique that lets incompetent programmers who know almost nothing about databases, finance, programming, or blockchain scam millions out of gullible VC investors, banks, and governments.
  11. Increased China's foreign trade balance by a couple billion dollars per year.
  12. Helped the FBI and other law enforcement agents easily track down hundreds of drug traffickers and drug users.
  13. Wasted thousands if not millions of man-hours of government employees and legislators, in mostly fruitless attempts to understand, legitimize, and regulate the "phenomenon", and to investigate and prosecute its scams.
  14. Rekindled the hopes of anarcho-capitalists and libertarians for a global economic collapse, that would finally bring forth their Mad Max "utopia".
  15. Added another character to Unicode (no, no, not the "poo" 💩 character ... that was my first guess as well 🤣)
  16. Provides an easy way for malware and ransomware criminals to ply their trade and extort hospitals, schools, local councils, businesses, utilities, as well as the general population.
.
Correct Predictions:
  1. 2015-12: "1,000 dollar in 2015", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/ (Technically, this prediction is WRONG because the highest price reached in 2015 was $495.56 according to CMC. Yes, Bitcoin reached $1,000 in 2013 and 2014, but that's NOT what the prediction says).
  2. 2017-12: "10,000 in 2017", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
  3. 2018-04: $10,000 (by April 2018), Mike Novogratz, link #1: https://www.bitcoinprice.com/predictions/, link #2: https://www.bloomberg.com/news/articles/2017-11-21/mike-novogratz-says-bitcoin-will-end-the-year-at-10-000
  4. 2018-12: $10,000 (by 2018), Tim Draper, link #1: https://www.bitcoinprice.com/predictions/, link #2: https://www.youtube.com/watch?v=3AW5s6QkRRY
  5. Any others ? (Please tell me).
.
Bitcoin Promises / Claims / Price Predictions that turned out to be lies and bullshit:
  1. ANONYMOUS
  2. CENSORSHIP RESISTANT
  3. FRICTIONLESS
  4. TRUSTLESS
  5. UNCENSORABLE
  6. UNTRACEABLE
  7. SAFE
  8. SECURE
  9. YOU CANNOT LOSE
  10. NOT A SCAM
  11. PERMISSIONLESS
  12. GUARANTEED PRIVACY
  13. CANNOT BE SEIZED
  14. CANNOT BE CONFISCATED
  15. Be your own bank
  16. Regulation-proof
  17. NO MIDDLEMEN
  18. DECENTRALIZED
  19. Instantaneous transactions
  20. Fast transactions
  21. Zero / No transaction fees
  22. Low transaction fees
  23. A store of value
  24. A deflationary digital asset
  25. "A deflationary digital asset that no single human being can destroy."
  26. "an asset that is equally as dual use as a car, water, or any other traditional element that has existed."
  27. "Digital gold"
  28. Easy to use
  29. Cannot be stolen
  30. Cannot be hacked
  31. Can be mined by anyone
  32. Can be mined by anyone, even with an old computer or laptop
  33. Cannot be centralized
  34. Will return power back to the people.
  35. Not a Ponzi scam
  36. Not a Pyramid scam
  37. Never pay tax again
  38. Your gains cannot be taxed
  39. A currency
  40. An amazing new class of asset
  41. An asset
  42. A means to economic freedom
  43. A store of value
  44. The best investment the word has ever seen
  45. A great investment
  46. Efficient
  47. Scalable
  48. Stable
  49. Resilient
  50. Reliable
  51. Low energy
  52. Low risk
  53. Redistribute wealth to everybody
  54. No more have's and have not's
  55. No more US and THEM
  56. No more disadvantaged people
  57. No more RICH and POOR
  58. No more poor people
  59. Uses amazing new technology
  60. Uses ingenious new technology
  61. Satishi Nakamoto invented ...
  62. Segwit will solve all of Bitcoin's woes
  63. Lightning Network will solve all of Bitcoin's woes
  64. Limited by scarcity
  65. Can only go up in value
  66. Price cannot crash
  67. Has intrinsic value
  68. Value will always be worth more than cost to mine
  69. Adoption by investors is increasing exponentially
  70. Adoption by investors is increasing
  71. Adoption by merchants is increasing exponentially
  72. Adoption by merchants is increasing
  73. You are secure if you keep your coins on an exchange
  74. You are secure if you keep your coins in a hardware wallet
  75. You are secure if you keep your coins in an air-gapped Linux PC
  76. Will change the world
  77. "the next phase in human evolution"
  78. "Blockchain is more encompassing than the internet"
  79. Blockchain can solve previously unsolvable problems.
  80. "The only regulation we need is the blockchain"
  81. "Bank the unbanked"
  82. "To abolish financial slavery and the state's toxic monopoly on money."
  83. "To have better tools in the fight against the state violence and taxation."
  84. "To stamp information on a blockchain forever so we can bypass state censorship, copyrights, patents(informational monopolies) etc."
  85. Will destroy / overthrow FIAT
  86. Will destroy / overthrow the world's governments
  87. Will destroy / overthrow the banking system
  88. Will destroy / overthrow the world economies
  89. Will free people from tyranny
  90. Will give people financial freedom
  91. Will bring world peace
  92. Never going below $19K again
  93. Never going below $18K again
  94. Never going below $17K again
  95. Never going below $16K again
  96. Never going below $15K again
  97. Never going below $14K again
  98. Never going below $13K again
  99. Never going below $12K again
  100. Never going below $11K again
  101. Never going below $10K again
  102. Never going below $9K again
  103. Never going below $8K again
  104. Never going below $7K again
  105. Never going below $6K again
  106. Never going below $5K again
  107. Never going below $4K again
  108. Is NOT a Scam
  109. Hashing Power secures the Bitcoin network
  110. Untraceable, private transactions
  111. Guaranteed privacy
  112. Not created out of thin air
  113. Not created out of thin air by unregulated, unbacked entities
  114. Totally NOT a scam
  115. Is not used primarily by crimonals, drug dealers, or money launderers.
  116. 100% secure
  117. 2010 will be the "Year of Crypto"
  118. 2011 will be the "Year of Crypto"
  119. 2012 will be the "Year of Crypto"
  120. 2013 will be the "Year of Crypto"
  121. 2014 will be the "Year of Crypto"
  122. 2015 will be the "Year of Crypto"
  123. 2016 will be the "Year of Crypto"
  124. 2017 will be the "Year of Crypto"
  125. 2018 will be the "Year of Crypto"
  126. 2019 will be the "Year of Crypto"
  127. 2010: MASS ADOPTION any day now"
  128. 2011: MASS ADOPTION aany day now"
  129. 2012: MASS ADOPTION aaany day now"
  130. 2013: MASS ADOPTION aaaany day now"
  131. 2014: MASS ADOPTION aaaaany day now"
  132. 2015: MASS ADOPTION aaaaaany day now"
  133. 2016: MASS ADOPTION aaaaaaany day now"
  134. 2017: MASS ADOPTION aaaaaaaany day now"
  135. 2018: MASS ADOPTION aaaaaaaaany day now"
  136. 2019: MASS ADOPTION aaaaaaaaany day now"
  137. "Financial Freedom, bro."
  138. no single entity, government or individual, can alter or reverse its transactions
  139. insurance against the tyranny of state
  140. Bitcoin has come to destroy all governments and bring about the libertarian utopia of my dreams.
  141. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 2+ years.
  142. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 5+ years.
  143. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 7+ years.
  144. The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 9+ years.
  145. 1,000's of predictions of skyrocketing and/or never falling prices
  146. Escape the petty rivalries of warring powers and nation states by scattering control among the many. The Bitcoin Cash debacle proves that even the most cryptographically secure plans of mice and men often go awry. Ref: https://www.reddit.com/Buttcoin/comments/9zfhb6/like_theres_only_one_flaw_with_buttcoin_crash/ea8s11m
  147. People will NEVER be able to welch out of bets or deals again. Nov-2018, Ref: https://www.reddit.com/Buttcoin/comments/9zvpl2/the_guy_who_made_the_1000_bet_that_btc_wouldnt/
  148. "Everything will be better, faster, and cheaper.", Brock Pierce, EOS.io shill video.
  149. "Everything will be more connected.", Brock Pierce, EOS.io shill video.
  150. "Everything will be more trustworthy.", Brock Pierce, EOS.io shill video.
  151. "Everything will be more secure.", Brock Pierce, EOS.io shill video.
  152. "Everything that exists is no-longer going to exist in the way that it does today.", Brock Pierce, EOS.io shill video.
  153. "Everything in this world is about to get better.", Brock Pierce, EOS.io shill video.
  154. You are a slave to the bankers
  155. The bankers print money and then you pay for it
  156. Bitcoin is The Peoples Money
  157. Bitcoin will set you free
  158. Bitcoin will set you free from the slavery of the banks and the government Ref: https://www.reddit.com/Bitcoin/comments/cd2q94/bitcoin_shall_set_you_free/
  159. ~~Bitcoin is "striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. ~~, Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
  160. "When transactions are verified on a Blockchain, banks become obsolete.", Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
  161. SnapshillBot quotes from delusional morons:
  162. "A bitcoin miner in every device and in every hand."
  163. "All the indicators are pointing to a huge year and bigger than anything we have seen before."
  164. "Bitcoin is communism and democracy working hand in hand."
  165. "Bitcoin is freedom, and we will soon be free."
  166. "Bitcoin isn't calculated risk, you're right. It's downright and painfully obvious that it will consume global finance."
  167. "Bitcoin most disruptive technology of last 500 years"
  168. "Bitcoin: So easy, your grandma can use it!"
  169. "Creating a 4th Branch of Government - Bitcoin"
  170. "Future generations will cry laughing reading all the negativity and insanity vomited by these permabears."
  171. "Future us will thank us."
  172. "Give Bitcoin two years"
  173. "HODLING is more like being a dutiful guardian of the most powerful economic force this planet has ever seen and getting to have a say about how that force is unleashed."
  174. "Cut out the middleman"
  175. "full control of your own assets"
  176. "reduction in wealth gap"
  177. "no inflation"
  178. "cannot print money out of thin air"
  179. "Why that matters? Because blockchain not only cheaper for them, it'll be cheaper for you and everyone as well."
  180. "If you are in this to get rich in Fiat then no. But if you are in this to protect your wealth once the current monetary system collapse then you are protected and you'll be the new rich."
  181. "Theres the 1% and then theres the 99%. You want to be with the rest thats fine. Being different and brave is far more rewarding. No matter your background or education."
  182. "NO COINERS will believe anything they are fed by fake news and paid media."
  183. "I know that feeling (like people looking at you as in seeing a celebrity and then asking things they don't believe until their impressed)."
  184. "I literally walk round everyday looking at other people wondering why they even bother to live if they don't have Bitcoin in their lives."
  185. "I think bitcoin may very well be the best form of money we’ve ever seen in the history of civilization."
  186. "I think Bitcoin will do for mankind what the sun did for life on earth."
  187. "I think the constant scams and illegal activities only show the viability of bitcoin."
  188. "I think we're sitting on the verge of exponential interest in the currency."
  189. "I'm not using hyperbole when I say Satoshi found the elusive key to World Peace."
  190. "If Jesus ever comes back you know he's gonna be using Bitcoin"
  191. "If this idea was implemented with The Blockchain™, it would be completely flawless! Flawless I tell you!"
  192. "If you're the minimum wage guy type, now is a great time to skip food and go full ramadan in order to buy bitcoin instead."
  193. "In a world slipping more and more into chaos and uncertainty, Bitcoin seems to me like the last solid rock defeating all the attacks."
  194. "In this moment, I am euphoric. Not because of any filthy statist's blessing, but because I am enlightened by own intelligence."
  195. "Is Bitcoin at this point, with all the potential that opens up, the most undervalued asset ever?"
  196. "It won't be long until bitcoin is an everyday household term."
  197. "It's the USD that is volatile. Bitcoin is the real neutral currency."
  198. "Just like the early Internet!"
  199. "Just like the Trojan Horse of old, Bitcoin will reveal its full power and nature"
  200. "Ladies if your man doesnt have some bitcoin then he cant handle anything and has no danger sex appeal. He isnt edgy"
  201. "let me be the first to say if you dont have bitcoin you are a pussy and cant really purchase anything worldwide. You have no global reach"
  202. "My conclusion is that I see this a a very good thing for bitcoin and for users"
  203. "No one would do such a thing; it'd be against their self interests."
  204. "Ooh lala, good job on bashing Bitcoin. How to disrespect a great innovation."
  205. "Realistically I think Bitcoin will replace the dollar in the next 10-15 years."
  206. "Seperation of money and state -> states become obsolete -> world peace."
  207. "Some striking similarities between Bitcoin and God"
  208. "THANK YOU. Better for this child to be strangled in its crib as a true weapon for crypto-anarchists than for it to be wielded by toxic individuals who distort the technology and surrender it to government and corporate powers."
  209. "The Blockchain is more encompassing than the internet and is the next phase in human evolution. To avoid its significance is complete ignorance."
  210. "The bull run should begin any day now."
  211. "The free market doesn't permit fraud and theft."
  212. "The free market will clear away the bad actors."
  213. "The only regulation we need is the blockchain."
  214. "We are not your slaves! We are free bodies who will swallow you and puke you out in disgust. Welcome to liberty land or as that genius called it: Bitcoin."
  215. "We do not need the bankers for Satoshi is our saviour!"
  216. "We have never seen something so perfect"
  217. "We must bring freedom and crypto to the masses, to the common man who does not know how to fight for himself."
  218. "We verified that against the blockchain."
  219. "we will see a Rennaisnce over the next few decades, all thanks to Bitcoin."
  220. "Well, since 2006, there has been a infinite% increase in price, so..."
  221. "What doesn't kill cryptocurrency makes it stronger."
  222. "When Bitcoin awake in normally people (real people) ... you will have this result : No War. No Tax. No QE. No Bank."
  223. "When I see news that the price of bitcoin has tanked (and thus the market, more or less) I actually, for-real, have the gut reaction "oh that’s cool, I’ll be buying cheap this week". I never knew I could be so rational."
  224. "Where is your sense of adventure? Bitcoin is the future. Set aside your fears and leave easier at the doorstep."
  225. "Yes Bitcoin will cause the greatest redistribution of wealth this planet has ever seen. FACT from the future."
  226. "You are the true Bitcoin pioneers and with your help we have imprinted Bitcoin in the Canadian conscience."
  227. "You ever try LSD? Perhaps it would help you break free from the box of state-formed thinking you have limited yourself..."
  228. "Your phone or refrigerator might be on the blockchain one day."
  229. The banks can print money whenever they way, out of thin air, so why can't crypto do the same ???
  230. Central Banks can print money whenever they way, out of thin air, without any consequences or accounting, so why can't crypto do the same ???
  231. It's impossible to hide illegal, unsavory material on the blockchain
  232. It's impossible to hide child pornography on the blockchain
  233. Fungible
  234. All Bitccoins are the same, 100% identical, one Bitcoin cannot be distinguished from any other Bitcoin.
  235. The price of Bitcoin can only go up.
  236. "Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
  237. Scarcity
  238. The price of Bitcoin can only go up because of scarcity / 21 million coin limit. (Bitcoin is open source, anyone can create thir own copy, and there are more than 2,000+ Bitcoin copies / clones out there already).
  239. immune to government regulation
  240. "a world-changing technology"
  241. "a long-term store of value, like gold or silver"
  242. "To Complex to Be Audited."
  243. "Old Auditing rules do not apply to Blockchain."
  244. "Old Auditing rules do not apply to Cryptocurrency."
  245. "Why Bitcoin has Value: SCARCITY.", PlanB, Coin Shill, 22-Mar-2019, https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
  246. "Bitcoin is the first scarce digital object the world has ever seen, it is scarce like silver & gold, and can be sent over the internet, radio, satellite etc.", PlanB, Coin Shill, 22-Mar-2019, https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
  247. "Surely this digital scarcity has value.", PlanB, Coin Shill, 22-Mar-2019, https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
  248. Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
  249. "May 2018 will be the last time we ever see $bitcoin under $10,000", Charlie Shrem, bitcoin advocate and convicted felon, 11:31 AM 3-May-2018, https://twitter.com/CharlieShrem/status/992109375555858433
  250. "Last dip ever.", AngeloBTC, 14 Oct 2018, https://mobile.twitter.com/AngeloBTC/status/1051710824388030464/photo/1
  251. "Bitcoin May Have Just Experienced its Final Shakeout Before a Big Rally", Joseph Young, coin shill, October 15, 2018 22:30 CET, https://www.ccn.com/bitcoin-may-have-just-experienced-its-final-shakeout-before-a-big-rally/
  252. Bitcoin would be a buy if the price fell under $5,000., Mohamed El-Erian, chief economic advisor at Allianz, 29-Jun-2018, https://www.ccn.com/bitcoin-a-buy-below-5000-says-allianz-chief-economic-adviso
  253. 2013-11-27: ""What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar [27-Nov-2013], services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
  254. 2018-02: Bitcoin price to hit $27,000 by February 2018, Trace Mayer, host of the Bitcoin Knowledge Podcast, and self-proclaimed entrepreneur, investor, journalist, monetary scientist and ardent defender, Link #1: https://mobile.twitter.com/TraceMayestatus/917260836070154240/photo/1, Link #2: https://www.bitcoinprice.com/predictions/
  255. 2018-06: "Bitcoin will surpass $15,000 in June [2018]." John McAfee, May 25, 2018, https://bitcoinist.com/john-mcafee-says-bitcoin-will-surpass-15000-in-june/
  256. 2018-07: Bitcoin will be $28,000 by mid-2018, Ronnie Moas, Wall Street analyst and founder of Standpoint Research, http://helpfordream.com/2018/12/23/5-bitcoin-price-predictions-gone-wrong/.
  257. 2018-12: Bitcoin to reach a price of between 40,000 and 110,000 US dollars by the end of the 2017 bull run ... sometime before 2019, Masterluc, 26-May-2017, an anonymous "legendary" Bitcoin trader, Link #1: https://www.tradingview.com/chart/BTCUSD/YRZvdurN-The-target-of-current-bubble-lays-between-40k-and-110k/, Link #2: https://www.bitcoinprice.com/predictions/
  258. 2018-12: "There is no reason why we couldn’t see Bitcoin pushing $50,000 by December [2018]", Thomas Glucksmann, head of APAC business at Gatecoin, Link #1: https://www.bitcoinprice.com/predictions/
  259. 2018-12: Listen up you giggling cunts... who wants some?...you? you want some?...huh? Do ya? Here's the deal you fuckin Nerds - Butts are gonna be at 30 grand or more by next Christmas [2018] - If they aren't I will publicly administer an electronic dick sucking to every shill on this site and disappear forever - Until then, no more bans or shadow bans - Do we have a deal? If Butts are over 50 grand me and Lammy get to be mods. Deal? Your ole pal - "Skully" u/10GDeathBoner, 3-Feb-2018 https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/
  260. 2018-12: 1 bitcoin = 1 Lambo. Remind me on Christmas eve [2018] u/10GDeathBoner, 3-Feb-2018, https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/dtn2pna
  261. 2018-12: Been in BTC since 2014 and experienced many "deaths" of BTC... this too shall pass... $10k end of the year. [2018] u/Exxe2502, 30-Jun-2018 https://reddit.com/Bitcoin/comments/8uur27/_/e1ioi5b/?context=1
  262. 2018-12: "Yale Alumni prediction - 30 Grand by Christmas [2018] - and you my friend... you will be the one eating Mcafee's dick in 2020. :) -:", u/SirNakamoto, 15-Jun-2018, https://www.reddit.com/Buttcoin/comments/8r0tyh/fdic_agrees_to_cover_bitcoin_losses_in_event_of/e0nzxq7
  263. 2018-12: "Impossible For Bitcoin Not to Hit $10,000 by This Year (2018)", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 22-Sep-2018, https://www.newsbtc.com/2018/09/22/billionaire-novogratz-impossible-for-bitcoin-not-to-hit-10000-by-this-yea
  264. 2018-12: "[Bitcoin] between $13,800 and $14,800 [by end of 2018]", Fundstrat's Tom Lee, 13-Dec-2018, https://www.cnbc.com/2018/12/13/wall-streets-bitcoin-bull-tom-lee-we-are-tired-of-people-asking-us-about-target-prices.html
  265. 2018-12: "Bitcoin is going to be $15k-$20k by the end of the year (2018)", Didi Taihuttu, 1-Nov-2018, https://www.wsj.com/video/series/moving-upstream/the-bitcoin-gamble/85E3A4A7-C777-4827-9A3F-B387F2AB7654
  266. 2018-12: 2018 bitcoin price prediction reduced to $15,000 [was $25,000], Fundstrat's Tom Lee, 16-Nov-2018, https://www.cnbc.com/2018/11/16/wall-streets-crypto-bull-tom-lee-slashes-year-end-forecast-by-10000.html
  267. 2018-12: "I want to be clear, bitcoin is going to $25,000 by year end (2018)", Fundstrat's Tom Lee, 5-Jul-2018, https://www.cnbc.com/video/2018/07/05/tom-lee-i-want-to-be-clear-bitcoin-is-going-to-25000-by-year-end.html
  268. 2018-12: "Bitcoin could be at $40,000 by the end of 2018, it really easily could", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 21-Sep-2018, https://www.youtube.com/watch?v=6lC1anDg2KU
  269. 2018-12: "Bitcoin will be priced around $50,000 by the end of the year (2018)", Bitcoin bull Arthur Hayes, co-founder and CEO of BitMEX, 29-Jun-2018, https://www.cnbc.com/2018/06/29/bitcoin-will-reach-50000-in-2018-says-founder-of-bitcoin-exchange.html
  270. 2018-12: "Bitcoin could definitely see $50,000 in 2018", Jeet Singh, cryptocurrency portfolio manager, speaking in January 2018 at the World Economic Forum in Davos, https://www.dcforecasts.com/new-prediction-says-bitcoin-hit-50000-2018/
  271. 2018-12: "Bitcoin will hit $100,000 this year (2018)", Kay Van-Petersen, an analyst at Saxo Bank, 17-Jan-2018, https://www.cnbc.com/2018/01/16/bitcoin-headed-to-100000-in-2018-analyst-who-forecast-2017-price-move.html
  272. 2018-12: "Bitcoin price to surpass the $100,000 mark by the end of 2018", Tone Vays, 21-Sep-2017, https://www.ccn.com/prominent-bitcoin-trader-price-is-heading-towards-100000-in-2018/
  273. 2018-12: "Bitcoin’s Price Will Surpass the $100,000 Mark by the End of 2018", Anonymous ("author" obviously too embarrassed to put his name to such bullshit "articles"), Oct-2018, https://investingpr.com/bitcoin-price-predictions-for-2018/
  274. 2018-12: "Our [2018] year-end bitcoin target is $7700.", James Stefurak, Founder at Monarch Research. See article: "Experts Forecast Bitcoin will rise by 2019", REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8
  275. 2018-12: "... we’ll see the price rally reaching its all-time of high of around $20K before the end of 2018", Khaled Khorshid, Co-Founder at Treon ICO. See article: "Experts Forecast Bitcoin will rise by 2019", REF: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b?gi=dfea3c30d6d8
  276. 2018-12: Bitcoin will end 2018 at the price point of $50,000, Ran Neuner, host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia,https://www.bitcoinprice.com/predictions/
  277. Plus a whole host of wrong 2019 predictions (could not be included here because of post character limit issues), so please see my earlier post from 4 days ago: Ummm, remember those "Expert" Bitcoin Price Predictions for 2019 ..... ohhhhh dear ....., https://www.reddit.com/Buttcoin/comments/eiqhq3/ummm_remember_those_expert_bitcoin_price/
.
But it's NOT all bad news, some claims and promises are yet to be determined:
  1. Never going below $3K again
  2. Never going below $2K again
  3. Never going below $1K again
  4. Any others ? Please let me know.
submitted by Crypto_To_The_Core to Buttcoin [link] [comments]

03-29 14:04 - 'Should blockchain projects really be decentralized?' (self.Bitcoin) by /u/Blockchain_Topbuzz removed from /r/Bitcoin within 371-381min

'''

In recent days, the FCOIN crisis has received the most attention.

Zhang Jian, founder of Chinese crypto exchange Fcoin, revealed in a [post]1 On February 17. Zhang Jian's ‘[Truth announcement]2 ’ seemed to put a bomb in the market. Before that, because the team lost contact for many days, the scandal of the team's dissolution was already rumoured for several days. Now, after the scandal that "FCoin may not be able to pay the 7,000-13,000 BTC" broke out, the only illusion left by investors is finally broken.
In July 2018, Fcoin began the community-based governance. Last October, FMEX, a contract trading platform owned by FT ECOLOGY, officially launched. However, the FMEX daily volume fell from the day of launch, which was astonishing. Coincidentally, in the same month, the public chain project aelf was also involved in rumors that the aelf team had dissolved the wechat community, which indicates that the team might be facing dissolving.
As it turned out, however, the decentralized cloud computing blockchain network project, aelf, wasn't dissolving, but attempted to return to the community by playing down the influence of the founding team.
FCoin, on the other hand, which claimed to be community-based governance, eventually collapsed because of Zhang Jian's team's terrible decision making, and has again raised questions about decentralization and community governance. Is it a false proposition to give back to the community? Should blockchain projects really be decentralized?

Giving back to the community = Escaping with money?

Communitization was once regarded as the biggest "Feature" of FCoin.
Over the past year, FCoin has set up Social Committees, Basic Regulations, Community Partnership System, Community Discipline Supervision Committee, Community Organization Departments, and Professional Committees that cover a wide range of talents. Together with the collective decision-making + Division of Labor and Cooperation Mechanism formed by the Social Committee, it seems that FCoin's decision-making has basically achieved community-owned and community-driven.
Judging from the completeness of the mechanism, FCoin stands out among all the blockchain projects/teams on the market. However, it was not until FCoin crashed that people realised that this platform, where decision making is handed over to the community and community governance is implemented, has had a serious payment crisis for a long time. But this fact was not known to the community, leading to the outside world believing that FCoin was functioning properly, and there was no omen for the final collapse.
It makes you wonder: Did FCoin really give back to the community? Over the past two years, following the large drop in the blockchain markets, many projects were nominally "de-centralized", but in reality, were simply exit-scams. After such things happen over and over again, people have concerns about the team's loss of contact and giving back to the community. However, the ultimate collapse of FCoin, which advocated community focus, undoubtedly puts a big black spot on community-owned and community-driven projects.
There is a reason why investors continue to accumulate doubts. Last May, ONO, a blockchain project, was shut down and its founder was accused of starting a new business. However, the founders later publicly responded that the project is still ongoing and they were working on the ONO innovation model, which is expected to be launched in December.
But until now, we haven't seen any new developments in the project, and the founder has long disappeared. Even if project decentralization is seriously stigmatized, in the crypto world, there are many projects that fulfill the dream of giving it back to the community.

Why do people still believe in decentralization?

BCH's Infrastructure Funding Plan have been the hotly debated. the proportion of Miners' donations are also updated with community recommendations. and miners and developers can also vote on and participate in decisions-making about proposals that affect their vital interests.
Last month Vitalik Buterin, the founder of Ethereum, a well known project, said in public that from a technical perspective, Ethereum is certain to survive because of the number of well coordinated developers. However, from the social perspective, he is not very sure. BUTERIN's statement also shows us how important a founder can be in a blockchain project.
During the second half of 2019, aelf was involved in the rumors. On October 21 last year, several wechat groups whose name including aelf suddenly disbanded. Due to the endless occurrence of exiting with money in blockchain projects, investors began to worry about whether the aelf team has dissolved.
However, the follow-up situation proves that the decentralized cloud computing blockchain network project is not dissolving, but was trying to return to the community by downplaying the role of teams.
We found ‘aelf community’, a WeChat official accounts platform, keeps tracking aelf project's progress. While there had been rumours that aelf had disbanded in the last quarter of last 2019. But in fact, during this period, aelf has been providing regular updates of the progress about its R & D and ecological construction to the outside world.
For example, the day after the rumor spread, aelf announced that it would launch the public test with awards for the aelf Enterprise 0.8.0 beta. On Oct 29th, aelf Enterprise was officially listed on Google Cloud Marketplace. Up to now, it has launched on Amazon AWS, Google Cloud, Microsoft Cloud Azure and Huawei Cloud platforms, and has become Amazon AWS and Huawei Cloud Technology partners, providing a more efficient, convenient and high-quality development environment for enterprise users (supporting multi cloud operation). Besides, Team members also continue to make their voices heard in international media or events.
On the other hand, aelf is also promoting its technology’s R & D. From the GitHub code base of aelf, we can see that the code development of aelf has been steadily active since the second half of last year.
Another perspective, from Dec 2019 to Feb 2020, aelf successively released aelf Enterprise V0.9.0 and aelf enterprise V 0.9.2. It is known that aelf Enterprise, a blockchain commercialization solution featuring "Independence, Efficiency and Security", can be used by all industries involved in value transfer to build the underlying blockchain. It is especially suitable for solving the problem of high cost of maintaining credit in business cooperation scenarios such as aviation, tourism, financial services, real estate, logistics, etc.
In addition, aelf seems to have some achievements on theoretical research. On 17 Feb. 2020, aelf officially launched the aelf Economy and Governance White Paper, which describes the various roles and interests in the ecosystem, including the rights of production nodes, candidate nodes, investors, developers and cooperation rules.
Decentralization is not without a bright future. The founder of Bitcoin disappeared for a decade, and bitcoin operated normally for that time. Ethereum has successfully built a prosperous ecosystem, which is not only the credit of Buterin and the Ethereum foundation, but also the credit to the tens of thousands of ecosystem participants such as developers, miners, token holders, etc.
We don't deny that there are a lot of blockchain projects that are secretly taking investors’ funds in the name of community and decentralization. Now, with FCoin falling in this fundamental crisis, "Give it back to the community" is once again ridiculed by the public. But in fact, compared with the teams that boast to ‘Give it back to the community’, they are actually often still centralization.
Rome can't be built in a day. It's probably the safest way to gradually give up decision-making power and move towards community-based governance. At present, we do see a lot of blockchain projects, still groping for a properly motivated, sustainable way to do business, and firmly practicing the initial desire of decentralization.
'''
Should blockchain projects really be decentralized?
Go1dfish undelete link
unreddit undelete link
Author: Blockchain_Topbuzz
1: **o*n*zen*e*k.*o*/hc*zh-cn/*rt**les*360*43503273-FCoin%E7%9*%9F*E*%9*%B8?f*om*tim*line&am*;*sappi**t**led=0 2: fcoin*zendesk.com***/zh-c*/art*cles/*6*0435*32**-F*oin%E*%*C*9F*E*%9B%B*?from=ti*eli*e&**p;isapp**st*lle**0
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

The biggest cryptocurrency thefts in the last 10 years

In this article, we will try to remember all the major theft of cryptocurrencies over the past 10 years.
1. Bitstamp $5.3 mln (BTC), January 4th, 2015
On January 4, 2015, the operational hot wallet of Bitstamp announced that it was hacked by an anonymous hacker and 19,000 Bitcoins (worth of $5 million) were lost.
The initiation of the attack fell on November 4, 2014. Then Damian Merlak, the CTO of the exchange, was offered free tickets to punk rock festival Punk Rock Holiday 2015 via Skype, knowing that Merlak is interested in such music and he plays in the band. To receive the tickets, he was asked to fill out a participant questionnaire by sending a file named “Punk Rock Holiday 2015 TICKET Form1.doc”. This file contained the VBA script. By opening the file, he downloaded the malware on his computer. Although Merlak did not suspect wrong and has opened the "application form", to any critical consequences, this did not open access to the funds of exchange.
The attackers, however, did not give up. The attack continued for five weeks, during which hackers presented themselves as journalists, then headhunters.
Finally, the attackers were lucky. On December 11, 2014, the infected word document was opened on his machine by Bitstamp system administrator Luka Kodric, who had access to the exchange wallet. The file came to the victim by email, allegedly on behalf of an employee of the Association for computer science, although in fact, as the investigation showed, the traces of the file lead deep into Tor. Hackers were not limited to just one letter. Skype attacker pretending to be an employee of the Association for computing machinery, convinced that his Frame though to make international honor society, which required some paperwork. Kodric believed.
By installing a Trojan on Kodriс's computer hackers were able to obtain direct access to the hot wallet of the exchange. The logs show that the attacker, under the account of Kodric, gained access to the server LNXSRVBTC, where he kept the wallet file.dat, and the DORNATA server where the password was stored. Then the servers were redirected to a certain IP address that belongs to one of the providers of Germany.
There are still no official reports of arrests in this case. Obviously, the case is complicated by the fact that the hackers are outside the UK, and the investigation has to cooperate with law enforcement agencies in other countries.
2. GateHub $9.5 mln (XRP), June 1th, 2019
Hackers have compromised nearly 100 XRP Ledger wallets on cryptocurrency wallet service GateHub. The incident was reported by GateHub in a preliminary statement on June 6.
XRP enthusiast Thomas Silkjær, who first noticed the suspicious activity, estimates that the hackers have stolen nearly $10 million worth of cryptocurrency (23,200,000 XRP), $5.5 million (13,100,000 XRP) of which has already been laundered through exchanges and mixer services.
GateHub notes that it is still conducting an investigation and therefore cannot publish any official findings. Also, GateHub advises victims to make complaints to the relevant authorities of their jurisdiction.
3. Tether, $30.9 mln (USDT), November 19th, 2017
Tether created a digital currency called "US tokens" (USDT) — they could be used to trade real goods using Bitcoin, Litecoin and Ether. By depositing $1 in Tether, the user received 1 USD, which can be converted back into fiat. On November 19, 2017, the attacker gained access to the main Tether wallet and withdrew $ 30.9 million in tokens. For the transaction, he used a Bitcoin address, which means that it was irreversible.
To fix the situation, Tether took action by which the hacker was unable to withdraw the stolen money to fiat or Bitcoin, but the panic led to a decrease in the value of Bitcoin.
4. Ethereum, $31 mln (ETH), July 20th, 2017
On July 20, 2017, the hacker transferred 153,037 Ethers to $31 million from three very large wallets owned by SwarmCity, Edgeless Casino and Eternity. Unknown fraudster managed to change the ownership of wallets, taking advantage of the vulnerability with multiple signatures.
First, the theft was noticed by the developers of SwarmCity.
Further events deserve a place in history: "white hackers" returned the stolen funds, and then protected other compromised accounts. They acted in the same way as criminals, who stole funds from vulnerable wallets — just not for themselves. And it all happened in less than a day.
5. Dao (Decentralized Autonomous Organization) $70 mln (ETH), June 18th, 2016
On June 18, 2016, members of the Ethereum community noticed that funds were being drained from the DAO and the overall ETH balance of the smart contract was going down. A total of 3.6 million Ether (worth around $70 million at the time) was drained by the hacker in the first few hours. The attack was possible because of an exploit found in the splitting function. The attackes withdrew Ether from the DAO smart contract multiple times using the same DAO Tokens. This was possible due to what is known as a recursive call exploit.
In this exploit, the attacker was able to "ask" the smart contract (DAO) to give the Ether back multiple times before the smart contract could update its own balance. There were two main faults that made this possible: the fact that when the DAO smart contract was created the coders did not take into account the possibility of a recursive call, and the fact that the smart contract first sent the ETH funds and then updated the internal token balance.
It's important to understand that this bug did not come from Ethereum itself, but from this one application that was built on Ethereum. The code written for the DAO had multiple bugs, and the recursive call exploit was one of them. Another way to look at this situation is to compare Ethereum to the Internet and any application based on Ethereum to a website: if a website is not working, it doesn't mean that the Internet is not working, it simply means that one website has a problem.
The hacker stopped draining the DAO for unknown reasons, even though they could have continued to do so.
The Ethereum community and team quickly took control of the situation and presented multiple proposals to deal with the exploit. In order to prevent the hacker from cashing in the Ether from his child DAO after the standard 28 days, a soft-fork was voted on and came very close to being introduced. A few hours before it was set to be released, a few members of the community found a bug with the implementation that opened a denial-of-service attack vector. This soft fork was designed to blacklist all the transactions made from the DAO.
6. NiceHash, 4736.42 (BTC), December 6th, 2017
NiceHash is a Slovenian cryptocurrency hash power broker with integrated marketplace that connects sellers of hashing power (miners) with buyers of hashing power using the sharing economy approach.
On December 6, 2017, the company's servers became the target of attack. At first, Reddit users reported that they could not access their funds and make transactions — when they tried to log in, they were shown a message about a service interruption. In the end, it became known that the service had undergone a major cyberattack and 4736,42 Bitcoins disappeared without a trace.
Despite heavy losses, NiceHash was able to continue working, but CEO and founder Marco Koval resigned, giving way to a new team. The company managed to maintain the trust of investors and began to strengthen the protection of its systems.
7. Mt.Gox, 850000 (BTC), June 19th, 2011
The Hacking Of Mt.Gox was one of the biggest Bitcoin thefts in history. It was the work of highly professional hackers using complex vulnerabilities.
A hacker (or a group of hackers) allegedly gained access to a computer owned by one of the auditors and used a security vulnerability to access Mt.Gox servers, then changed the nominal value of Bitcoin to 1 cent per coin.
Then they brought out about 2000 BTC. Some customers, without knowing it, conducted transactions at this low price, a total of 650 BTC, and despite the fact that the hacking hit the headlines around the world, no Bitcoin could be returned.
To increase investor confidence, the company has compensated all of the stolen coins, placed most of the remaining funds in offline storage, and the next couple of years was considered the most reliable Bitcoin exchanger in the world.
However, it was only an illusion of reliability.
The problems of the organization were much more serious, and the management probably did not even know about them.
CEO of Mt.Gox, Mark Karpeles, was originally a developer, but over time he stopped delving into technical details, basking in the rays of glory — because he created the world's largest platform for cryptocurrency exchange. At that time Mt.Gox handled over 70% of all Bitcoin transactions.
And, of course, there were those who wanted to take advantage of the technological weakness of the service. At some point, hackers made it so that Bitcoins could be bought at any price, and within minutes millions of dollars worth of coins were sold — mostly for pennies. World prices for Bitcoin stabilized in a few minutes, but it was too late.
As a result, Mt.Gox lost about 850,000 Bitcoins. The exchange had to declare bankruptcy, hundreds of thousands of people lost money, and the Japanese authorities arrested CEO Mark Karpeles for fraud. He pleaded not guilty and was subsequently released. In 2014, the authorities restored some of the Bitcoins remaining at the old addresses, but did not transfer them to the exchange, and created a trust to compensate for the losses of creditors.
8. Coincheck, $530 mln, January 26th, 2018
The sum was astonishing, and even surpassed the infamous Mt.Gox hack.
While Mt.Gox shortly filed for bankruptcy following the hack, Coincheck has surprisingly remained in business and was even recently approved as a licensed exchange by Japan’s Financial Services (FSA).
Coincheck was founded in 2014 in Japan and was one of the most popular cryptocurrency exchanges in the country. Offering a wide variety of digital assets including Bitcoin, Ether, LISK, and NEM, Coincheck was an emerging exchange that joined the Japan Blockchain Association.
Since Coincheck was founded it 2014, it was incidentally not subject to new exchange registration requirements with Japan’s FSA — who rolled out a framework after Mt. Gox –, and eventually was a contributing factor to its poor security standards that led to the hack.
On January 26th, 2018, Coincheck posted on their blog detailing that they were restricting NEM deposits and withdrawals, along with most other methods for buying or selling cryptocurrencies on the platform. Speculation arose that the exchange had been hacked, and the NEM developers issued a statement saying they were unaware of any technical glitches in the NEM protocol and any issues were a result of the exchange’s security.
Coincheck subsequently held a high-profile conference where they confirmed that hackers had absconded with 500 million NEM tokens that were then distributed to 19 different addresses on the network. Totaling roughly $530 million at the time — NEM was hovering around $1 then — the Coincheck hack was considered the largest theft in the industry’s history.
Coincheck was compelled to reveal some embarrassing details about their exchange’s security, mentioning how they stored all of the NEM in a single hot wallet and did not use the NEM multisignature contract security recommended by the developers.
Simultaneously, the NEM developers team had tagged all of the NEM stolen in the hack with a message identifying the funds as stolen so that other exchanges would not accept them. However, NEM announced they were ending their hunt for the stolen NEM for unspecified reasons several months later, and speculation persisted that hackers were close to cashing out the stolen funds on the dark web.
Mainstream media covered the hack extensively and compared it to similar failures by cryptocurrency exchanges in the past to meet adequate security standards. At the time, most media coverage of cryptocurrencies was centered on their obscure nature, dramatic volatility, and lack of security. Coincheck’s hack fueled that narrative considerably as the stolen sum was eye-popping and the cryptocurrency used — NEM — was unknown to most in the mainstream.
NEM depreciated rapidly following the hack, and the price fell even more throughout 2018, in line with the extended bear market in the broader industry. Currently, NEM is trading at approximately $0.07, a precipitous fall from ATH over $1.60 in early January.
The extent of the Coincheck hack was rivaled by only a few other hacks, notably the Mt.Gox hack. While nominally Coincheck is the largest hack in the industry’s history, the effects of Mt.Gox were significantly more impactful since the stolen funds consisted only of Bitcoin and caused a sustained market correction as well as an ongoing controversy with the stolen funds and founder. Moreover, Mt.Gox squandered 6% of the overall Bitcoin circulation at the time in a market that was much less mature than it is today.
Despite the fallout, Coincheck is now fully operational and registered with Japan’s FSA.
As practice shows, people make mistakes and these mistakes can cost a lot. Especially, when we talk about mad cryptoworld. Be careful and keep your private keys in a safe place.
submitted by SwapSpace_co to BitcoinMarkets [link] [comments]

A few stories about Brian Krebs: The independent cybercrime journalist who exposes criminals on the internet

First, a bit of introduction before we get into the living drama that is Brian Krebs.
Brian Krebs has been a journalist for decades, starting in the late 90s. He got his start at The Washington Post, but what he's most famous for are his exposes on criminal businesses and individuals who perpetuate cyber crime worldwide. In 2001, he got his interest in cybercrime piqued when a computer worm locked him out of his own computer. In 2005, he shifted from working as a staff writer at The Washington Post's tech newswire to writing for their security blog, "Security Wire". During his tenure there, he started by focusing on the victims of cybercrime, but later also started to focus on the perpetrators of it as well. His reporting helped lead to the shutdown of McColo, a hosting provider who provided service to some of the world's biggest spammers and hackers. Reports analyzing the shutdown of McColo estimated that global spam volume dropped by between 40 and 70 percent. Further analysis revealed it also played host to child pornography sites, and the Russian Business Network, a major Russian cybercrime ring.
In 2009, Krebs left to start his own site, KrebsOnSecurity. Since then, he's been credited with being the first to report on major events such as Stuxnet and when Target was breached, resulting in the leakage of 40 million cards. He also regularly investigates and reveals criminals' identities on his site. The latter has made him the bane of the world of cybercrime, as well as basically a meme, where criminals will include references like Made by Brian Krebs in their code, or name their shops full of stolen credit cards after him.
One of his first posts on his new site was a selection of his best work. While not particularly dramatic, they serve as an excellent example of dogged investigative work, and his series reveal the trail of takedowns his work has documented, or even contributed to.
And now, a selection of drama involving Krebs. Note, all posts are sarcastically-tinged retellings of the source material which I will link throughout. I also didn't use the real names in my retellings, but they are in the source material. This took way too long to write, and it still does massively condense the events described in the series. Krebs has been involved with feuds with other figures, but I'd argue these tales are the "main" bits of drama that are most suited for here.

Fly on the Wall

By 2013, Krebs was no stranger to cybercriminals taking the fight to the real world. He was swatted previously to the point where the police actually know to give him a ring and see if there'd actually been a murder, or if it was just those wacky hackers at it again. In addition, his identity was basically common knowledge to cybercriminals, who would open lines of credit in his name, or find ways to send him money using stolen credit cards.
However, one particular campaign against him caught his eye. A hacker known as "Fly" aka "Flycracker" aka "MUXACC1" posted on a Russian-language fraud forum he administered about a "Krebs fund". His plan was simple. Raise Bitcoin to buy Heroin off of a darknet marketplace, address it to Krebs, and alert his local police via a spoofed phone call. Now, because Krebs is an investigative journalist, he develops undercover presences on cybercrime forums, and it just so happened he'd built up a presence on this one already.
Guys, it became known recently that Brian Krebs is a heroin addict and he desperately needs the smack, so we have started the "Helping Brian Fund", and shortly we will create a bitcoin wallet called "Drugs for Krebs" which we will use to buy him the purest heroin on the Silk Road. My friends, his withdrawal is very bad, let’s join forces to help the guy! We will save Brian from the acute heroin withdrawal and the world will get slightly better!
Fly had first caught Krebs' attention by taunting him on Twitter, sending him Tweets including insults and abuse, and totally-legit looking links. Probably either laced with malware, or designed to get Krebs' IP. He also took to posting personal details such as Krebs' credit report, directions to his house, and pictures of his front door on LiveJournal, of all places.
So, after spotting the scheme, he alerted his local police that he'd probably have someone sending him some China White. Sure enough, the ne'er-do-wells managed to raise 2 BTC, which at the time was a cool $200 or so. They created an account on the premiere darknet site at the time, The Silk Road under the foolproof name "briankrebs7". They found one seller who had consistently high reviews, but the deal fell through for unknown reasons. My personal theory is the seller decided to Google where it was going, and realized sending a gram of dope into the waiting arms of local law enforcement probably wasn't the best use of his time. Still, the forum members persevered, and found another seller who was running a buy 10 get 2 free promotion. $165 of Bitcoin later, the drugs were on their way to a new home. The seller apparently informed Fly that the shipment should arrive by Tuesday, a fact which he gleefully shared with the forum.
While our intrepid hero had no doubt that the forum members were determined to help him grab the tail of the dragon, he's not one to assume without confirmation, and enlisted the help of a graduate student at UCSD who was researching Bitcoin and anonymity on The Silk Road, and confirmed the address shared by Fly was used to deposit 2 BTC into an account known to be used for money management on the site.
By Monday, an envelope from Chicago had arrived, containing a copy of Chicago confidential. Taped inside were tiny baggies filled with the purported heroin. Either dedicated to satisfied customers, or mathematically challenged, the seller had included thirteen baggies instead of the twelve advertised. A police officer arrived to take a report and whisked the baggies away.
Now, Fly was upset that Krebs wasn't in handcuffs for drug possession, and decided to follow up his stunt by sending Krebs a floral arrangement shaped like a cross, and an accompanying threatening message addressed to his wife, the dire tone slightly undercut by the fact that it was signed "Velvet Crabs". Krebs' curiosity was already piqued from the shenanigans with the heroin, but with the arrival of the flowers decided to dive deeper into the сука behind things.
He began digging into databases from carding sites that had been hacked, but got his first major breakthrough to his identity from a Russian computer forensics firm. Fly had maintained an account on a now-defunct hacking forum, whose database was breached under "Flycracker". It turns out, the email Flycracker had used was also hacked at some point, and a source told Krebs that the email was full of reports from a keylogger Fly had installed on his wife's computer. Now, because presumably his wife wasn't part of, or perhaps even privy to her husband's illicit dealings, her email account happened to be her full legal name, which Krebs was able to trace to her husband. Now, around this time, the site Fly maintained disappeared from the web, and administrators on another major fraud forum started purging his account. This is a step they typically take when they suspect a member has been apprehended by authorities. Nobody knew for sure, but they didn't want to take any chances.
More research by Krebs revealed that the criminals' intuition had been correct, and Fly was arrested in Italy, carrying documents under an assumed name. He was sitting in an Italian jail, awaiting potential extradition to the United States, as well as potentially facing charges in Italy. This was relayed to Krebs by a law enforcement official who simply said "The Fly has been swatted". (Presumably while slowly removing a pair of aviator sunglasses)
While Fly may have been put away, the story between Krebs and Fly wasn't quite over. He did end up being extradited to the US for prosecution, but while imprisoned in Italy, Fly actually started sending Krebs letters. Understandably distrustful after the whole "heroin" thing, his contacts in federal law enforcement tested the letter, and found it to be clean. Inside, there was a heartfelt and personal letter, apologizing for fucking with Krebs in so many ways. He also forgave Krebs for posting his identity online, leading him to muse that perhaps Fly was working through a twelve-step program. In December, he received another letter, this time a simple postcard with a cheerful message wishing him a Merry Christmas and a Happy New Year. Krebs concluded his post thusly:
Cybercrooks have done some pretty crazy stuff to me in response to my reporting about them. But I don’t normally get this kind of closure. I look forward to meeting with Fly in person one day soon now that he will be just a short train ride away. And he may be here for some time: If convicted on all charges, Fly faces up to 30 years in U.S. federal prison.
Fly ultimately was extradited. He plead guilty and was sentenced to 41 months in jail

vDOS and Mirai Break The Internet

Criminals are none too happy when they find their businesses and identities on the front page of KrebsOnSecurity. It usually means law enforcement isn't far behind. One such business was known as vDOS. A DDOS-for-hire (also known as a "booter" or a "stresser") site that found itself hacked, with all their customer records still in their databases leaked. Analysis of the records found that in a four-month time span, the service had been responsible for about 8.81 years worth of attack time, meaning on average at any given second, there were 26 simultaneous attacks running. Interestingly, the hack of vDOS came about from another DDOS-for-hire site, who as it turns out was simply reselling services provided by vDOS. They were far from the only one. vDOS appeared to provide firepower to a large number of different resellers.
In addition to the attack logs, support messages were also among the data stolen. This contained some complaints from various clients who complained they were unable to launch attacks against Israeli IPs. This is a common tactic by hackers to try and avoid unwanted attention from authorities in their country of residence. This was confirmed when two men from Israel were arrested for their involvement in owning and running vDOS. However, this was just the beginning for this bit of drama.
The two men arrested went by the handles "applej4ck" and "Raziel". They had recently published a paper on DDOS attack methods in an online Israeli security magazine. Interestingly, on the same day the men were arrested, questioned, and released on bail, vDOS went offline. Not because it had been taken down by Israeli authorities, not because they had shut it down themselves, but because a DDOS protection firm, BackConnect Security, had hijacked the IP addresses belonging to the company. To spare a lot of technical detail, it's called a BGP hijack, and it basically works by a company saying "Yeah, those are our addresses." It's kind of amazing how much of the internet is basically just secured by the digital equivalent of pinky swears. You can read some more technical detail on Wikipedia. Anyway, we'll get back to BackConnect.
Following the publication of the story uncovering the inner workings of vDOS, KrebsOnSecurity was hit with a record breaking DDOS attack, that peaked at 620/Gbps, nearly double the most powerful DDOS attack previously on record. To put that in perspective, that's enough bandwidth to download 5 simultaneous copies of Interstellar in 4K resolution every single second, and still have room to spare. The attack was so devastating, Akamai, one of the largest providers of DDOS protection in the world had to drop Krebs as a pro bono client. Luckily, Google was willing to step in and place his site under the protection of Google's Project Shield, a free service designed to protect the news sites and journalists from being knocked offline by DDOS attacks.
This attack was apparently in retaliation for the vDOS story, since some of the data sent in the attack included the string "freeapplej4ck". The attack was executed by a botnet of Internet of Things (or IoT) devices. These are those "smart" devices like camera systems, routers, DVRs. Basically things that connect to the cloud. An astounding amount of those are secured with default passwords that can be easily looked up from various sites or even the manufacturers' websites. This was the start of a discovery of a massive botnet that had been growing for years.
Now time for a couple quick side stories:
Dyn, a company who provides DNS to many major companies including Twitter, Reddit, and others came under attack, leaving many sites (including Twitter and Reddit) faltering in the wake of it. Potentially due to one of their engineers' collaboration with Krebs on another story. It turned out that the same botnet that attacked Krebs' site was at least part of the attack on Dyn
And back to BackConnect, that DDOS protection firm that hijacked the IP addresses from vDOS. Well it turns out BGP Hijacks are old hat for the company. They had done it at least 17 times before. Including at least once (purportedly with permission) for the address 1.3.3.7. Aka, "leet". It turns out one of the co-founders of BackConnect actually posted screenshots of him visiting sites that tell you your public IP address in a DDOS mitigation industry chat, showing it as 1.3.3.7. They also used a BGP Hijack against a hosting company and tried to frame a rival DDOS mitigation provider.
Finally, another provider, Datawagon was interestingly implicated in hosting DDOS-for-hire sites while offering DDOS protection. In a Skype conversation where the founder of Datawagon wanted to talk about that time he registered dominos.pizza and got sued for it, he brings up scanning the internet for vulnerable routers completely unprompted. Following the publication of the story about BackConnect, in which he was included in, he was incensed about his portrayal, and argued with Krebs over Skype before Krebs ultimately ended up blocking him. He was subsequently flooded with fake contact requests from bogus or hacked Skype accounts. Shortly thereafter, the record-breaking DDOS attack rained down upon his site.
Back to the main tale!
So, it turns out the botnet of IoT devices was puppeteered by a malware called Mirai. How did it get its name? Well, that's the name its creator gave it, after an anime called Mirai Nikki. How did this name come to light? The creator posted the source code online. (The name part, not the origin. The origin didn't come 'til later.) The post purported that they'd picked it up from somewhere in their travels as a DDOS industry professional. It turns out this is a semi-common tactic when miscreants fear that law enforcement might come looking for them, and having the only copy of the source code of a malware in existence is a pretty strong indicator that you have something to do with it. So, releasing the source to the world gives a veneer of plausible deniability should that eventuality come to pass. So who was this mysterious benefactor of malware source? They went by the name "Anna-senpai".
As research on the Mirai botnet grew, and more malware authors incorporated parts of Mirai's source code into their own attacks, attention on the botnet increased, and on the people behind it. The attention was presumably the reason why Hackforums, the forum where the source code was posted, later disallowed ostensible "Server Stress Tester" services from being sold on it. By December, "Operation Tarpit" had wrought 34 arrests and over a hundred "knock and talk" interviews questioning people about their involvement.
By January, things started to come crashing down. Krebs published an extensive exposé on Anna-senpai detailing all the evidence linking them to the creation of Mirai. The post was so big, he included a damn glossary. What sparked the largest botnet the internet had ever seen? Minecraft. Minecraft servers are big business. A popular one can earn tens of thousands of dollars per month from people buying powers, building space, or other things. It's also a fiercely competitive business, with hundreds of servers vying for players. It turns out that things may have started, as with another set of companies, two rival DDOS mitigation providers competing for customers. ProTraf was a provider of such mitigation technology, and a company whose owner later worked for ProTraf had on at least one occasion hijacked addresses belonging to another company, ProxyPipe. ProxyPipe had also been hit with DDOS attacks they suspected to be launched by ProTraf.
While looking into the President of ProTraf, Krebs realized he'd seen the relatively uncommon combination of programming languages and skills posted by the President somewhere else. They were shared by Anna-senpai on Hackforums. As Krebs dug deeper and deeper into Anna-senpai's online presence, he uncovered other usernames, including one he traced to some Minecraft forums where a photoshopped picture of a still from Pulp Fiction contained the faces of BackConnect, which was a rival to ProTraf's DDOS mitigation business, and another face. A hacker by the name of Vyp0r, who another employee of ProTraf claimed betrayed his trust and blackmailed him into posting the source of another piece of malware called Bashlite. There was also a third character photoshopped into the image. An anime character named "Yamada" from a movie called B Gata H Hei.
Interestingly, under the same username, Krebs found a "MyAnimeList" profile which, out of 9 titles it had marked as watched, were B Gata H Hei, as well as Mirai Nikki, the show from which Mirai derived its name. It continues on with other evidence, including DDOS attacks against Rutgers University, but in short, there was little doubt in the identity of "Anna-senpai", but the person behind the identity did contact Krebs to comment. He denied any involvement in Mirai or DDOS attacks.
"I don’t think there are enough facts to definitively point the finger at me," [Anna-senpai] said. "Besides this article, I was pretty much a nobody. No history of doing this kind of stuff, nothing that points to any kind of sociopathic behavior. Which is what the author is, a sociopath."
He did, however, correct Krebs on the name of B Gata H Kei.
Epilogue
Needless to say, the Mirai botnet crew was caught, but managed to avoid jailtime thanks to their cooperation with the government. That's not to say they went unpunished. Anna-senpai was sentenced to 6 months confinement, 2500 hours of community service, and they may have to pay up to $8.6 million in restitution for their attacks on Rutgers university.

Other Stories

I don't have the time or energy to write another effortpost, and as is I'm over 20,000 characters, so here's a few other tidbits of Krebs' clashes with miscreants.
submitted by HereComesMyDingDong to internetdrama [link] [comments]

Writing a short early history of ICOs, starting with altcoins - anything important I've missed?

This is for the forever-forthcoming ICO book. But I figured I needed to talk about altcoins first, the previous generation of shitcoins. This is mostly from dredging early altcoin stuff on Bitcointalk.
There needs to be a bit of the end that leads from The DAO as a world-famous ICO to the 2017 crypto bubble, and ICOs booming in that. Is there anything super-relevant I've missed? In the context of ICOs as we now know them, not just altcoins. Ethereum and Ripple probably.
The early history of ICOs
In the beginning was Bitcoin.
That’s the start for every cryptocurrency and blockchain story. Different parts are important to different people — fun and interesting technology, decentralised money, fighting the oppressive statist jackboots of taxation, sticking it to the man.
What ICOs inherit from Bitcoin is the notion of inventing your own magical Internet money — so you can get rich for free. Bitcoin was released in January 2009 as an open protocol, implemented as open source code — anyone could take a copy of it, twiddle it a bit and have a new coin. It took until April 2011 for the first “fork” of the Bitcoin code to come out — Namecoin, an attempt at a decentralised replacement for the Internet’s Domain Name Service (DNS).[1]
It was another four months until someone came up with a general altcoin, usable as a Bitcoin-style payment system — Ixcoin, on 10 August 2011.[2] The creator, “Thomas Nasakioto” — an anagram of "Satoshi Nakamoto"; he used a picture of Japanese actor Hiroyuki Sanada as his forum avatar — disappeared less than a month later, having scored about 50 bitcoins in the process. “Pretty sure it’s dead,” said one commenter. “It has served his purpose. Many people made quite a few BTC out of it.”[3]
A flood of what were rapidly labeled “altcoins” followed — i0coin, Solidcoin, RRCoin, Tenebrix, Litecoin. The Freenode Internet Relay Chat network started banning cryptocurrency servers that made automated network announcements around this time, rather than deal with what looked “like a botnet using their network.”[4]
The first Initial Coin Offering as we know it is commonly held to be Mastercoin in July 2013.[5] Mastercoin became OmniLayer — the platform for Tether. Mastercoin was the first sale of a token that ran as an application on top of another blockchain — in this case, Bitcoin: “I am VERY excited to announce that I now have a complete specification for building a protocol layer on top of bitcoin (like how HTTP runs on top of TCP/IP).”
Mastercoin didn’t use the phrase “Initial Coin Offering.” The phrase “IPO” — “Initial Public Offering,” in the manner of stock offerings for companies going public — was being used for altcoin offerings by 2014. IronBankCoin used “initial coin offering” and “ICO” by July 2014 — “The initial coin offering will be of 21% of the coin cap during the PoW (Proof of Work) stage” and “Initial Distribution of the Land (ICO info): ICO? Aren't those all scams?”[6]
Mastercoin never really took off as a token platform — that didn’t come until Ethereum made tokens easy to set up in 2015, and The DAO got press worldwide in 2016 by showing just how much money an ICO could pull in. Even as The DAO proceeded to lose $50 million to a hacker five days after launch.
  1. vinced. “(announce) Namecoin - a distributed naming system based on Bitcoin.” BitcoinTalk Bitcoin Forum > Bitcoin > Bitcoin Discussion, 18 April 2011.
  2. Nasakioto. “[ANNOUNCE] Mining on Ixcoin, a new Bitcoin fork.” Ixcoin Forum, 10 August 2011. (archive)
  3. Mindphlux. “Re: What happened to the ixcoin founder? Is Ixcoin dead?” BitcoinTalk Bitcoin Forum > Other > Alternate cryptocurrencies, 9 September 2011.
  4. DannyM. “Ixcoin, I0coin, future forks: Please respect Freenode Network.” BitcoinTalk Bitcoin Forum > Other > Alternate cryptocurrencies, 16 August 2011
  5. Dacoinminster. “OFFICIAL LAUNCH: New Protocol Layer Starting FromNew Protocol Layer Starting From ‘The Exodus Address’.” BitcoinTalk Bitcoin Forum > Bitcoin > Project Development, 31 July 2013.
  6. IronBankCoin. “(Pre-ANN)(IBC) IronBankCoin | 90-day PoW~PoS | Own part of the Known World.” BitcoinTalk Bitcoin Forum > Alternate cryptocurrencies > Announcements (Altcoins), 17 June 2014, updated 28 July 2014.
submitted by dgerard to Buttcoin [link] [comments]

The Xtrabytes scam needs to be shut down and the people need to face criminal charges

I came across something the other day that caught my attention. I decided to finally read their first ever post: https://bitcointalk.org/index.php?topic=1793468.0 on bitcointalk.org. Until now, I had only looked at the first page or two. Some interesting bits from the first few pages:
1 year and 10 months later, we have no actual proof that he is a real person (at least not who he claims to be). The proof he is a real developer is extremely limited. We have zero proof that he is capable of developing what he claims he has. XBY has been anything but transparent. All 3 of these claims appear to be to entice people into buying into the Xtrabytes scam.
This should have NEVER been done, though it’s not surprising that C-Cex would do something so incredibly stupid. They should have delisted XBY, which would have forced Borzalom to start from scratch and apply for listing on the exchange with a new coin he created. Had they done this, it’s likely this whole scam would have never happened, as he has shown no development skills whatsoever and likely could not have made anything from scratch.
All that is IF it even is the true story. I don’t believe it to be. I believe Borz was in on Bitmox, which is why he had the source code. No chat with C-Cex ever happened, which is why the messages between Borz and C-cex support that are included in the post are plaintext when other bits of info are snippets and screenshots. He didn’t provide a snippet picture because the conversation never happened. There is further proof that it didn’t happen if you look at the language used by both Borz and the support person - they use the same language, which is notable by the overuse of adverbs, such as ‘very’ and ‘perfectly’. Borz typed these messages himself.
No additional code has ever been shown. The new algorithm he claims to have created, Proof of Signature, has never been seen or proven. Given the details, It’s likely that he never did any additional coding after the hard fork and the code is nearly the exact same as when he closed it.
If you care to continue reading, they get called out be being a scam within the first few pages by multiple users. The delays and stalls start almost immediately. Borz has never shown any additional code, as it doesn’t exist.
Some additional links:
This has all been discussed many times and this Bitcoin Talk post does a great job putting all the pieces together.
Here is a post that contains a message from CCR says the patent is all a delay tactic.
Within these posts, there are messages from CCR saying that he’s been selling his XBY. https://imgur.com/a/QtMXi0q
You can find Borzalom‘ real identity, as well as old posts from 3 coins, like Identity, that he copied from someone else and then shut down abruptly out of nowhere. He claims he’s from Hungary, but he had a business registered in Florida. Everything points to him living in Florida. He’s not deaf and he’s not a world class coding god.
It kind of becomes a rabbit hole of sorts, but if you care to read, it’s quite interesting and IMO proves without a doubt XtraBytes is 100% a scam.
Nothing has changed. Borzalom and CCR are criminals. They deserve to be in prison. There is enough proof of XBY being a fraud and conversely no proof their technology exists whatsoever.
XtraBytes needs to be shut down and the people responsible need to face criminal charges, that includes all their mods and team members that KNOW this is a scam, but keep it up because they’re being paid.
submitted by cameron0208 to CryptoCurrency [link] [comments]

All about Ripple

In the last 2-3 years, digital currencies are gaining popularity day by day. Along with Bitcoin and Ethereum-XRP (Ripple) is one of the three giants of the cryptocurrency market, periodically competing for second place on it. This fact makes us look more closely at this coin and try to study its history, features, strengths and weaknesses, as well as to assess the prospects. The Creator of XRP, Ripple Labs Inc, has entered into partnerships with more than two hundred major financial institutions, including Standard Chartered Bank, Westpac, Banco Santander and BBVA.
XRP cryptocurrency has such obvious advantages:
Ripple was originally developed as an alternative to banks, and as a result, transactions are much faster and cheaper than that of Bitcoin. In XRP, there can be more transactions per second. BTC processes about 7-8 transactions per second, whereas the XRP registry is capable of handling more than 1500 transactions per second;
The Ripple platform allows you to exchange for any currency or other means of payment (for example, gold) with a single minimum Commission;
The payment ecosystem with the use of the platform. The user can create their own currency for quick and cheap transactions. At the moment, this opportunity is in little demand, but Ripple Labs is trying to stimulate creativity using the ripple platform;
There is no inflation. All tokens are initially mined and already exist;
The more banks use Ripple as their transaction platform, the more incentives there are for the growth of the XRP cryptocurrency. However, it is worth understanding that banks primarily use RippleNet, in which the XRP cryptocurrency is only one of the possible financial instruments.
The disadvantages of XRP include:
High centralization. Many argue that the whole idea of cryptocurrencies is to avoid centralized control over payments. Since XRP tokens are already mined, Ripple developers can theoretically decide when and how much to market, or not to release. At the same time, Ripple Labs is the network validator, and they also set the rules of this network. So it's all more like investing in a Bank. However, this point is often questioned. So brad Garlinghouse stated that " Ripple is not centralized. To be clear, even if Ripple disappears today, XRP will continue to function. For me, this is the most important sign that something is decentralized»;
In addition to centralization, XRP is often accused of monopolization, because Ripple Labs owns approximately 61 % of XRP coins;
Although the list of financial institutions with which ripple cooperates is quite long, according to the Financial Times, relations with most of them are at the testing stage;
Ripple Labs could theoretically freeze your transactions. The clearest example of this is when jed McCaleb, the founder of Ripple Labs, tried to sell his XRP for more than a million dollars, the transaction was canceled. There are rumors that jed violated the contract, but even so, the very possibility of freezing the transaction contradicts the idea of cryptocurrencies.
At the moment, the difference in the market capitalization of XRP and ETH is noticeable, and in the case of bitcoin, it generally still looks insurmountable. However, another important point is that the purpose of XRP cryptocurrency is, first of all, fast cross-border payments. The situation is gradually changing, with the development of the crypto market and the integration of XRP into the system of everyday payments. Cryptocurrency XRP is rapidly moving beyond its old image, i.e. only a simple way of cross-border transfer of money, and becomes an everyday means of payment. Opportunities to pay XRP for services and goods are growing all the time. On the Internet, you can already find dozens of online stores, travel companies and carriers willing to accept XRP as money.
Right now, we are developing opportunities to integrate XRP into gaming and legal services. In March 2019, a program was written integrating XRP into the WooCommerce ecommerce plugin. The woocommerce plugin is used in more than 3 million online stores, i.e. such integration opens wide prospects for XRP.
The price of XRP cryptocurrency is influenced by both the General state of the cryptocurrency market and a number of additional factors:
Action by global financial institutions;
Speculation on crypto markets;
Technology development and integration of XRP with new platforms and exchanges;
Development of competing projects;
Measures taken by financial regulators in different countries;
Lawsuits involving Ripple Labs, Inc.
Thus, the news about the development of ripple integration with trading platforms or large financial institutions has repeatedly had a positive impact on the XRP rate.
submitted by belkavips to u/belkavips [link] [comments]

Russian Agents Suspected of Cleaning Bitcoin-Exchange Platform

Russian Agents Suspected of Cleaning Bitcoin-Exchange Platform
The Russian Federal Security Service (FSB), a successor agency to the Soviet KGB, could be involved in the disappearance of some US$450 million in cryptocurrency from one of the world’s largest online exchange platforms in the world, the BBC reported last week.
Wex, a crypto exchange platform in Russian, with hundreds of millions of dollars in bitcoins and other virtual currencies, collapsed at the end of last year.
According to the BBC investigation, there is also a possibility that a Wex founder, Alexander Bilyuchenko, may have transferred the Bitcoin to FSB accounts.
The report reminds that Wex was launched in 2017 as a successor to another Russian crypto exchange platform - BTC-e, which the FBI shut down. US authorities accused the platform of laundering up to $4 billion of dirty money from all over the world.
One BTC-e's client was the Russian cyber-espionage group known as Fancy Bear, which US prosecutors alleged used bitcoins to fund hacking the US Democratic National Committee in 2016.
Bilyuchenko, a business partner of BTC-e's main operator - Alexander Vinnik, together with Dmitry Vasilyev, a high-volume BTC-e's client, then formed Wex, promising, as Meduza news outlet reminded, to return some of the funds its clients had lost in their dealings with BTC-e.
The BBC's report alleges that Bilyuchenko and Vasilyev started looking, in early 2018, for influential patrons for their exchange, and eventually found Konstantin Malofeev, a Russian oligarch and founder of Marshall Capital, a leading Russian investment group. Malofeev has also been known as a pro-Kremlin billionaire under US, Canadian and EU sanctions for bankrolling Moscow-backed forces in Eastern Ukraine.
Bilyuchenko and Malofeev reportedly agreed to build on the foundation of Wex "a new exchange that would serve as specialized accounting infrastructure to protect the financial and economic sovereignty of the Russian Federation."
As Bilyuchenko later testified, FSB agents contacted him, and "an individual named Anton demanded" he hands over a flash drive containing encrypted Wex assets, saying that the cryptocurrency in the exchange would "go to the account of the FSB of Russia."
The BBC has also obtained audio recordings between individuals discussing the Wex platform, in which the outlet says Konstantin Malofeev discussed the importance of bringing Wex under the control of the FSB.
www.zeusbtc.com
submitted by Moustache_Group to Bitcoin [link] [comments]

The Biggest Scams In The Crypto History: Part 2

Here’s the sequel of our previous article. You wanted — you got it. Let’s roll!
OneCoin
OneCoin is a good example of a Ponzi scheme. In 2015, the Indian company One Coin Limited began to issue digital currency without a blockchain and decentralization. The old-school MLM (Multi-Level Marketing) strategy was used for the distribution of coins.
The company was selling a wide range of training packages on crypto trading, mining and successful life. There were textbooks, presentations, and other rubbish, among which were OneCoin tokens. They were supposed to allow users to get even more tokens. But the thing was that only One Coin Limited had exclusive rights to issue of coinage. So there were no other options for mining this coin.
On the international conference the founder of OneCoin, Ruja Ignatova, presents these tokens as the Bitcoin killer. See how easy it is to fool users?
Over the years, the company has spread its network globally. And only in 2017, the project gets into a number of investigations and restrictions. Owners and employees of the company more and more often could not answer questions from investors and carried on with the nonsense about “a bright crypto-future.”
Finally, regulators and banks in Italy, Germany, Hungary, Belize, Thailand and other countries have banned the trade of OneCoin and warned users not to get engaged with this company.
In early March 2019, the current OneCoin cryptocurrency leader Konstantin Ignatov, brother of Ruja Ignatova, was arrested at Los Angeles airport. He is accused of fraud and creating a financial pyramid.
According to the United States Attorney’s Office, Ignatov and his sister misled investors all over the world, and as a result, the people invested billions of dollars in a fraud scheme. They are accused of building a billion-dollar cryptocurrency company, based entirely on deception.
FBI Assistant Director-in-Charge William Sweeney, Jr. said:
“OneCoin was a cryptocurrency existing only in the minds of its creators and their co-conspirators. Unlike authentic cryptocurrencies, which maintain records of their investors’ transaction history, OneCoin had no real value. It offered investors no method of tracing their money, and it could not be used to purchase anything. In fact, the only ones who stood to benefit from its existence were its founders and co-conspirators.”
Despite all hardships, One Coin Limited continues to work. If you check out their website you will find everything there: a meaningless text about the benefits of a “revolutionary” token and other signs of a high-quality international project that deceives people.
QuadrigaCX
It’s not possible to take your savings to the grave, right? More than 100,000 clients of QuadrigaCX are ready to argue with that. So let’s try to recount the details of this strange story.
QuadrigaCX was created in 2013 and was Canada’s largest cryptocurrency exchange.
In December 2018, Gerald Cotten (founder and CEO of the QuadrigaCX) and his wife — Jennifer Robertson, were in India on their honeymoon. During this trip Cotten suddenly passed away from Crohn’s disease. After his death, it turned out that Gerald was the only one who had access to cold wallets of the exchange platform.
Changpeng Zhao (Binance CEO) comments this situation on Twitter:
“That’s sad. There are many solutions to split private keys or signing to achieve 3/5, 5/7 etc. Never neglect security. Also, never have CEO carry private keys. Bad on many levels.”
On January 25, 2019 (that is, almost two months after Cotten’s death) a special meeting was convened to appoint QuadrigaCX’s new directors. As a result, the inconsolable widow Jennifer Robertson, her stepfather Thomas Beazley and Jack Martel were elected to take charge of a company. By the way, this meeting was held by a conference call as the widow was very busy by hastily selling the property of her deceased husband. Indeed, there was something to deal with: a yacht, a plane, and several houses. Also, dearly departed managed to take care of his Chihuahuas by opening a special trust account for them in the amount of $100,000 (which is interesting, as Cotten did not show such forethought about the clients of his company).
It’s worth to mention that the clients of QuadrigaCX had problems with the exchange for a long time — mainly related to the withdrawal of funds. The first wake-up calls took place in March 2018, when press reports negatively about delays in the withdrawal of funds the total amount of which exceeded $100,000. But that’s all just moonshine compared to the fact that in June 2017 the exchange platform lost about 15 million Canadian dollars — as explained to the community, due to a bug in the smart contract. As a result, the Canadian Imperial Bank of Commerce (CIBC) froze about $22 million in QuadrigaCX accounts. This happened in November 2018, and for all users, it would have meant the end of a remarkable business but Mr. Cotten wasn’t explaining the problems to customers, wasn’t trying to solve them, and so on. He had just married and went on a honeymoon trip to pass away exactly two weeks after freezing the accounts.
As the inconsolable widow stated in her testimony:
“To the best of my knowledge, most of the businesses of these companies was being conducted by Gerry whenever and wherever he and his computer were located”.
In February 2019, the head of Coinbase — Brian Armstrong unveiled the results of an independent investigation into the QuadrigaCX. He reported on his Twitter account the following:
“Sequence of events suggests this was a mismanagement with later attempt to cover for it.” “This implies that at least few people inside Qadriga knew that they were running fractional. If so, then it’s possible that untimely death of their CEO was used as an outlet to let the company sink”.
Brian Armstrong stressed that QuadrigaCX users started complaining about problems with withdrawing money long before Gerald Cotten’s death. Thus, the company management decided to invent a story about private keys on the laptop of the CEO to hide the financial insolvency, one of the reasons for which could be inefficient management.
Nowadays, the Canadian cryptocurrency exchange QuadrigaCX is officially bankrupt. Users of the closed Quadriga are now leading legal battles in order to recover their funds. The total amount of which is about $190 million in crypto. The exact circumstances of the disappearance of user deposits remain uncertain.
Do you think the story with QuadrigaCX was Exit Scam or Mismanagement?
Bitfinex
One of the largest crypto scandals of the year broke out on April 30, 2019. The New York State Attorney General’s Office has filed serious accusations against the biggest exchange platform — Bitfinex. According to Leticia James, the exchange platform used the reserves of Tether, an affiliated company to cover up a loss of $850 million.
Questions to Tether have been in the air for a long time. In January 2018, the critics of the main stablecoin assumed that the company, in fact, produced more coins than it actually could sustain. Some critics accused the Bitfinex in fraud and manipulation of Tether’s rate and influenced through it on the price of Bitcoin.
So what’s up with the Bitfinex? Investigators of the prosecutor’s office claim that the lost money belonged to the clients and iFinex corporation. That is why, back in October 2018, Bitfinex started having problems with the withdrawal of the funds: the clients complained about long response time and a delay in receiving currency. According to the authorities, Bitfinex transferred $850 million to Crypto Capital Corp., the payment company. The Tether reserves were used to fill the gap, but this information was not disclosed to the public. According to the first data, Tether provided funding in the amount of at least $700 million for this purposes. Withdrawing this amount of currency severely shook faith in the idea that Tether tokens are indeed fully backed by dollars.
And then Bitfinex had extraordinary difficulties in satisfying the withdrawal demands from the platform since Crypto Capital refused to process withdrawals or simply could not return any funds. One of the senior Bitfinex executives opened a can of worms by writing the following:
“Please understand all this could be extremely dangerous for everybody, the entire crypto community. BTC could tank to below 1k if we don’t act quickly.”
Soon after it was known about the serious accusations against companies, Bitfinex’s users began to panic. They started buying Bitcoin and trying to get rid of their assets in USDT. As a result, BTC was trading $350+ (6.75%) more expensive than the crypto market average.
Tether and Bitfinex published a joint statement on their official blogs in response to the allegations of missing funds. The posts allege that the companies did not receive any preliminary warnings, as well as that lawsuits from the New York Prosecutor General’s Office were “riddled with false assertions”.
According to the latest information, Bitfinex is supposed to release its own token and attract $1 billion in Tether through IEO.
What do you think about these scandals and scams? Tell us your thoughts in the comments below.
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us on Medium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to BitcoinCA [link] [comments]

Which type of curren(t) do you want to see(cy)? A analysis of the intention behind bitcoin(s). [Part I]

Bitcoin was released to the world in 2009 by someone (or a group) who authored a technical whitepaper, released the source code to the protocol and commented on a few p2p forums and mailing lists under the pseudonym Satoshi Nakamoto for a few months prior and a few years afterwards before leaving the project. The project was left in the hands of Gavin Andresson who was another cryptographer that satoshi communicated regularly with on the forums and had been one of the first people involved in the project. Some time after satoshi left, one of his accounts was allegedly hacked and bitcointalk (the primary forum) itself was hacked so a meme kind of emerged that satoshi wouldn't be able to post again from his accounts or that posting from them would be dubious. In 2016 an Australian by the name of Craig S Wright was exposed by Wired and Gizmodo as potentially being the inventor of bitcoin. Craig then signed privately for Gavin Andreson, Jon Matonis but then when he was supposed to cryptographically sign to a journalist the method performed did not hold up to public scrutiny because he could have copy pasted a fragment from an earlier known signed message from satoshi and not generated it himself with the private keys. This cast a lot of doubt from many on the man's claims and he published an article saying he wasn't brave enough to sign.
Since then the term cryptocurrency has blown out massively to include anything with a distributed ledger technology, a token, a security, and has really just devolved into a cesspit of buzzwords and disinformation. Once satoshi disappeared in 2011 and left the repo in the hands of Gavin and the open source community, it left a power vacuum in the space for how to interpret the protocol, whitepaper and handle the development. Gavin Andresson brought some other developers on board from the forums and mailing lists, Shortly after Gavin gave some other developers commit access, bitcointalk was hacked and these new developers somehow deleted gavin from the github repo due to apparent concern that his account was compromised from the hack and afterwards once he validated his identity in certain accounts he was never given access again. Gavin stopped being involved with the project after that.
In the time following satoshi's departure a meme had evolved that satoshi had left because Gavin had met with the CIA to discuss bitcoin. This meme combined with the interpretation of what satoshi meant when he included the quote "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" in the genesis block, the subsequent rise and fall of silk road and darknet markets, and the general lore of the space, his cypherpunk mailing list associations had led the scene to paint/project upon him as some kind of government hating tax dodging l33t h4xor demigod.
Although in the title of the whitepaper it was described as p2p cash, bitcoin as most know it is now is marketed as a store of value. Although it was defined as the longest Proof of Work chain of digital signatures, bitcoin as most know it in actual fact has segregated witnesses (signatures) in the protocol. Although satoshi attests to how bitcoin is designed to scale to giant block sizes hosted and mined in data centers that never really hits a scaling ceiling, it is being sold as that even at 1MB size, the damage has already been done and the blocksize should be 300kB because every user needs to be able to run a full node for bitcoin to validate their own transactions with the lowest hardware and bandwidth requirements possible. A high vertice count with everyone running a (non-mining) full node is said to protect the network against malicious actions by the big bad government while graph theory states that it is the degree of inter connectivity of the vertcies (edge number) that confers security of the network against sybil attacks as it brings the number of hops down.
This decoupling from the original vision has led to development and scaling of bitcoin stalling for many years which led to the proliferation of many alt coins rising up to claim they possess superior attributes to bitcoin or can work in conjunction with bitcoin in a gold and silver type relationship, or serve a different use case to bitcoin. The debate between the groups that represented the opposing roadmaps reached a climax with bitcoin itself forking into two now separate blockchains with the minority chain being declared the imposter by social media claiming hashpower and the market had chosen despite their chain changing on the protocol level to implement segregated witnesses and reject the block size increase. These two now separate chains both forked again to birth bitcoin gold and diamond on the segwit chain and bitcoin cash and bitcoin sv on the non segwit chain. At the non segwit chain fork, bitcoin cash implemented checkpointing at the protocol level whereas bitcoin sv maintained the original nakamoto consensus and sought to scale greater than the 32MB blocksize limit BCH maintained with 64MB blocks.
Following these forking events both BTC (segwit) and BCH (checkpoints) also implemented Schnorr signatures which was marketed as economising the size of a typical bitcoin transaction though in actual fact it can be used to obfuscate signatures and allow for the mixing of coins to mask the chain of digital signatures and essentially "anonymously" launder money. The BSV chain (now Stewarded by Dr Craig Wright) was then declared the loser of that hash war by people heralding the power of the market and the miners to democratize money. The problem with such a claim though is just like current polical democracy, this apparent democratisation of money was just as susceptible to the influence of those who control the cryptocurrency media and just like in politics, there is a cabal like group that exerts a disproportionate influence over the narrative and appears to serve the interests of those in on the racket rather than those it is allegedly informing.
The main forums for discussion of cryptocurrency originally were bitcoin.org, bitcointalk.org and /Bitcoin with all three of them for some time sharing the same moderator theymos. Coindesk and the bitcoinmagazine (started by ethereum devs) were some early sources, talking heads like andreas antonopolos (andreasma), peter todd (petertodd) and greg maxwell (nullc) being propped up as sources of knowledge on what is the best course of action for scaling and endorsing solutions like small blocks, second layer solutions and segwit as a necessarry bitcoin improvement protocol (BIP) while people like Roger Ver (memory dealers) and Dr Craig Wright (craig_s_wright) endorsing a block size increase. Because the core developers had chosen to scale with small blocks and lots of nodes on the network were signalling in support of Segwit any discussion of a big block alternative was considered discussion of an alt coin and deleted and eventually users banned from /bitcoin. Out of that incident /btc emerged as an apparently censorship free forum for the discussion of all scaling plans for bitcoin but was ultimately a partisan sub populated with dejected big blockers. After the BCH fork, discussion for bitcoin sv exists on a few subs /bsv (modded by BCHers), /bitcoinsv (moderated by the lead technician at nChain (Craig Wright's company) and /bitcoincashsv where many users have been banned from both /bitcoin and /btc.
Now this so far is just kind of a synposis of the history of bitcoin covering all three of the main contenders for the legitimate claimant of the name but the part 2 will look more at what kind of drastically different societies would be built upon the different versions of the protocol and what may seem like their subtle differences and which one is likely to succeed.
submitted by whipnil to C_S_T [link] [comments]

The biggest cryptocurrency thefts in the last 10 years

In this article, we will try to remember all the major theft of cryptocurrencies over the past 10 years.
1. Bitstamp $5.3 mln (BTC), January 4th, 2015
On January 4, 2015, the operational hot wallet of Bitstamp announced that it was hacked by an anonymous hacker and 19,000 Bitcoins (worth of $5 million) were lost.
The initiation of the attack fell on November 4, 2014. Then Damian Merlak, the CTO of the exchange, was offered free tickets to punk rock festival Punk Rock Holiday 2015 via Skype, knowing that Merlak is interested in such music and he plays in the band. To receive the tickets, he was asked to fill out a participant questionnaire by sending a file named “Punk Rock Holiday 2015 TICKET Form1.doc”. This file contained the VBA script. By opening the file, he downloaded the malware on his computer. Although Merlak did not suspect wrong and has opened the "application form", to any critical consequences, this did not open access to the funds of exchange.
The attackers, however, did not give up. The attack continued for five weeks, during which hackers presented themselves as journalists, then headhunters.
Finally, the attackers were lucky. On December 11, 2014, the infected word document was opened on his machine by Bitstamp system administrator Luka Kodric, who had access to the exchange wallet. The file came to the victim by email, allegedly on behalf of an employee of the Association for computer science, although in fact, as the investigation showed, the traces of the file lead deep into Tor. Hackers were not limited to just one letter. Skype attacker pretending to be an employee of the Association for computing machinery, convinced that his Frame though to make international honor society, which required some paperwork. Kodric believed.
By installing a Trojan on Kodriс's computer hackers were able to obtain direct access to the hot wallet of the exchange. The logs show that the attacker, under the account of Kodric, gained access to the server LNXSRVBTC, where he kept the wallet file.dat, and the DORNATA server where the password was stored. Then the servers were redirected to a certain IP address that belongs to one of the providers of Germany.
There are still no official reports of arrests in this case. Obviously, the case is complicated by the fact that the hackers are outside the UK, and the investigation has to cooperate with law enforcement agencies in other countries.
2. GateHub $9.5 mln (XRP), June 1th, 2019
Hackers have compromised nearly 100 XRP Ledger wallets on cryptocurrency wallet service GateHub. The incident was reported by GateHub in a preliminary statement on June 6.
XRP enthusiast Thomas Silkjær, who first noticed the suspicious activity, estimates that the hackers have stolen nearly $10 million worth of cryptocurrency (23,200,000 XRP), $5.5 million (13,100,000 XRP) of which has already been laundered through exchanges and mixer services.
GateHub notes that it is still conducting an investigation and therefore cannot publish any official findings. Also, GateHub advises victims to make complaints to the relevant authorities of their jurisdiction.
3. Tether, $30.9 mln (USDT), November 19th, 2017
Tether created a digital currency called "US tokens" (USDT) — they could be used to trade real goods using Bitcoin, Litecoin and Ether. By depositing $1 in Tether, the user received 1 USD, which can be converted back into fiat. On November 19, 2017, the attacker gained access to the main Tether wallet and withdrew $ 30.9 million in tokens. For the transaction, he used a Bitcoin address, which means that it was irreversible.
To fix the situation, Tether took action by which the hacker was unable to withdraw the stolen money to fiat or Bitcoin, but the panic led to a decrease in the value of Bitcoin.
4. Ethereum, $31 mln (ETH), July 20th, 2017
On July 20, 2017, the hacker transferred 153,037 Ethers to $31 million from three very large wallets owned by SwarmCity, Edgeless Casino and Eternity. Unknown fraudster managed to change the ownership of wallets, taking advantage of the vulnerability with multiple signatures.
First, the theft was noticed by the developers of SwarmCity.
Further events deserve a place in history: "white hackers" returned the stolen funds, and then protected other compromised accounts. They acted in the same way as criminals, who stole funds from vulnerable wallets — just not for themselves. And it all happened in less than a day.
5. Dao (Decentralized Autonomous Organization) $70 mln (ETH), June 18th, 2016
On June 18, 2016, members of the Ethereum community noticed that funds were being drained from the DAO and the overall ETH balance of the smart contract was going down. A total of 3.6 million Ether (worth around $70 million at the time) was drained by the hacker in the first few hours. The attack was possible because of an exploit found in the splitting function. The attackes withdrew Ether from the DAO smart contract multiple times using the same DAO Tokens. This was possible due to what is known as a recursive call exploit.
In this exploit, the attacker was able to "ask" the smart contract (DAO) to give the Ether back multiple times before the smart contract could update its own balance. There were two main faults that made this possible: the fact that when the DAO smart contract was created the coders did not take into account the possibility of a recursive call, and the fact that the smart contract first sent the ETH funds and then updated the internal token balance.
It's important to understand that this bug did not come from Ethereum itself, but from this one application that was built on Ethereum. The code written for the DAO had multiple bugs, and the recursive call exploit was one of them. Another way to look at this situation is to compare Ethereum to the Internet and any application based on Ethereum to a website: if a website is not working, it doesn't mean that the Internet is not working, it simply means that one website has a problem.
The hacker stopped draining the DAO for unknown reasons, even though they could have continued to do so.
The Ethereum community and team quickly took control of the situation and presented multiple proposals to deal with the exploit. In order to prevent the hacker from cashing in the Ether from his child DAO after the standard 28 days, a soft-fork was voted on and came very close to being introduced. A few hours before it was set to be released, a few members of the community found a bug with the implementation that opened a denial-of-service attack vector. This soft fork was designed to blacklist all the transactions made from the DAO.
6. NiceHash, 4736.42 (BTC), December 6th, 2017
NiceHash is a Slovenian cryptocurrency hash power broker with integrated marketplace that connects sellers of hashing power (miners) with buyers of hashing power using the sharing economy approach.
On December 6, 2017, the company's servers became the target of attack. At first, Reddit users reported that they could not access their funds and make transactions — when they tried to log in, they were shown a message about a service interruption. In the end, it became known that the service had undergone a major cyberattack and 4736,42 Bitcoins disappeared without a trace.
Despite heavy losses, NiceHash was able to continue working, but CEO and founder Marco Koval resigned, giving way to a new team. The company managed to maintain the trust of investors and began to strengthen the protection of its systems.
7. Mt.Gox, 850000 (BTC), June 19th, 2011
The Hacking Of Mt.Gox was one of the biggest Bitcoin thefts in history. It was the work of highly professional hackers using complex vulnerabilities.
A hacker (or a group of hackers) allegedly gained access to a computer owned by one of the auditors and used a security vulnerability to access Mt.Gox servers, then changed the nominal value of Bitcoin to 1 cent per coin.
Then they brought out about 2000 BTC. Some customers, without knowing it, conducted transactions at this low price, a total of 650 BTC, and despite the fact that the hacking hit the headlines around the world, no Bitcoin could be returned.
To increase investor confidence, the company has compensated all of the stolen coins, placed most of the remaining funds in offline storage, and the next couple of years was considered the most reliable Bitcoin exchanger in the world.
However, it was only an illusion of reliability.
The problems of the organization were much more serious, and the management probably did not even know about them.
CEO of Mt.Gox, Mark Karpeles, was originally a developer, but over time he stopped delving into technical details, basking in the rays of glory — because he created the world's largest platform for cryptocurrency exchange. At that time Mt.Gox handled over 70% of all Bitcoin transactions.
And, of course, there were those who wanted to take advantage of the technological weakness of the service. At some point, hackers made it so that Bitcoins could be bought at any price, and within minutes millions of dollars worth of coins were sold — mostly for pennies. World prices for Bitcoin stabilized in a few minutes, but it was too late.
As a result, Mt.Gox lost about 850,000 Bitcoins. The exchange had to declare bankruptcy, hundreds of thousands of people lost money, and the Japanese authorities arrested CEO Mark Karpeles for fraud. He pleaded not guilty and was subsequently released. In 2014, the authorities restored some of the Bitcoins remaining at the old addresses, but did not transfer them to the exchange, and created a trust to compensate for the losses of creditors.
8. Coincheck, $530 mln, January 26th, 2018
The sum was astonishing, and even surpassed the infamous Mt.Gox hack.
While Mt.Gox shortly filed for bankruptcy following the hack, Coincheck has surprisingly remained in business and was even recently approved as a licensed exchange by Japan’s Financial Services (FSA).
Coincheck was founded in 2014 in Japan and was one of the most popular cryptocurrency exchanges in the country. Offering a wide variety of digital assets including Bitcoin, Ether, LISK, and NEM, Coincheck was an emerging exchange that joined the Japan Blockchain Association.
Since Coincheck was founded it 2014, it was incidentally not subject to new exchange registration requirements with Japan’s FSA — who rolled out a framework after Mt. Gox –, and eventually was a contributing factor to its poor security standards that led to the hack.
On January 26th, 2018, Coincheck posted on their blog detailing that they were restricting NEM deposits and withdrawals, along with most other methods for buying or selling cryptocurrencies on the platform. Speculation arose that the exchange had been hacked, and the NEM developers issued a statement saying they were unaware of any technical glitches in the NEM protocol and any issues were a result of the exchange’s security.
Coincheck subsequently held a high-profile conference where they confirmed that hackers had absconded with 500 million NEM tokens that were then distributed to 19 different addresses on the network. Totaling roughly $530 million at the time — NEM was hovering around $1 then — the Coincheck hack was considered the largest theft in the industry’s history.
Coincheck was compelled to reveal some embarrassing details about their exchange’s security, mentioning how they stored all of the NEM in a single hot wallet and did not use the NEM multisignature contract security recommended by the developers.
Simultaneously, the NEM developers team had tagged all of the NEM stolen in the hack with a message identifying the funds as stolen so that other exchanges would not accept them. However, NEM announced they were ending their hunt for the stolen NEM for unspecified reasons several months later, and speculation persisted that hackers were close to cashing out the stolen funds on the dark web.
Mainstream media covered the hack extensively and compared it to similar failures by cryptocurrency exchanges in the past to meet adequate security standards. At the time, most media coverage of cryptocurrencies was centered on their obscure nature, dramatic volatility, and lack of security. Coincheck’s hack fueled that narrative considerably as the stolen sum was eye-popping and the cryptocurrency used — NEM — was unknown to most in the mainstream.
NEM depreciated rapidly following the hack, and the price fell even more throughout 2018, in line with the extended bear market in the broader industry. Currently, NEM is trading at approximately $0.07, a precipitous fall from ATH over $1.60 in early January.
The extent of the Coincheck hack was rivaled by only a few other hacks, notably the Mt.Gox hack. While nominally Coincheck is the largest hack in the industry’s history, the effects of Mt.Gox were significantly more impactful since the stolen funds consisted only of Bitcoin and caused a sustained market correction as well as an ongoing controversy with the stolen funds and founder. Moreover, Mt.Gox squandered 6% of the overall Bitcoin circulation at the time in a market that was much less mature than it is today.
Despite the fallout, Coincheck is now fully operational and registered with Japan’s FSA.
As practice shows, people make mistakes and these mistakes can cost a lot. Especially, when we talk about mad cryptoworld. Be careful and keep your private keys in a safe place.
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The Escobars Believe They’ve Found the Real Satoshi Is Bitcoin a good investment? Institutional investment grows dramatically but is there a catch!!! CRYSTAL CASTLES VANiSHED: DIRECTED BY @TVCARNAGE Why The Mysterious Bitcoin founder Satoshi Nakamoto ... Anthony Pompliano says get ready for the bitcoin halving and price escalation to $100k

One of the most enduring mysteries of bitcoin is the identity of its founder, Satoshi Nakamoto.Little is known about him. His last communication was in April 2011, two years after the network came Satoshi Nakamoto is the pseudonymous creator of Bitcoin, and they mysteriously disappeared soon after launching Bitcoin. Due to the popularity of Bitcoin, and the fact that Satoshi mined over one million Bitcoins before disappearing, the crypto space has long been trying to figure out the true identity of Satoshi. The exact Bitcoin founder and inventor is still dramatically unknown till date, and different false alarms has been raised towards many prominent individuals being suspected to be the person or people behind Bitcoin. Satoshi Nakamoto made the Bitcoin software in 2008, then he made it open source in January 2009. Bloomberg just reported that QuadrigaCX CEO and founder Gerald Cotten legally changed his will just 12 days before his death on December 9. This fact is just the latest in a string of interesting elements regarding the Canadian Bitcoin exchange’s sudden closure and supposed $150 million in missing crypto funds.Here is a run-down of what we know — and don’t know — so far. Bitcoin founder claims draw skepticism Jeff Garzik used to exchange emails with Satoshi Nakamoto before the pseudonymous creator of bitcoin disappeared years ago. The most important news

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The Escobars Believe They’ve Found the Real Satoshi

History Get YouTube Premium ... DOW JONES & Bitcoin Analysis & News by That Martini Guy. 16:13. SHORT THE STOCK MARKET!! BITCOIN PRICE VOLATILE!?! ... MILLIONS MISSING! Bitcoin BULLISH! Stock ... Nothing is known about the mysterious Founder of Bitcoin, and the last communication Satoshi Nakamoto had with the world was in two thousand eleven. Since then, there have been many theories about ... An interesting analysis about why the mysterious bitcoin founder Satoshi Nakamoto disappeared. An astonishing facts are presented justifying the main reasons... Bitcoin SV traded earlier today at around $116 but, suddenly, pumped to a local high of over $128. It is not immediately clear what is behind the Bitcoin SV pump. Yasutaka disappeared completely from public view in 1992 after surviving an assassination attempt by his former employer. He then resurfaced years later to create and launch Bitcoin.