Bitcoin History – Price since 2009 to 2019, BTC Charts ...

With Bitinstant do you get your bitcoin based on value at intial order time or when you pay or when it clears mtgox?

With Bitinstant do you get your bitcoin based on value at intial order time or when you pay or when it clears mtgox?
submitted by georedd to Bitcoin [link] [comments]

r/MAINSTREETCRYPTO EXCLUSIVE: INTERVIEW WITH ROGER VER

MAINSTREETCRYPTO EXCLUSIVE: INTERVIEW WITH ROGER VER
MAINSTREETCRYPTO EXCLUSIVE: INTERVIEW WITH ROGER VER
https://preview.redd.it/9rycme1mdgr41.jpg?width=200&format=pjpg&auto=webp&s=30c55fb3ff8b3705726a04109797063a26798798
Roger Ver, is one of the five founders of the bitcoin foundation. You could say he was ahead of his time, buying $25,000 worth of bitcoin when they were merely $1 each. He was the first major investor to invest millions in Blockchain.info, Ripple, Kraken, and Bitpay among others. Now he wants Bitcoin Cash, a fork of the legacy chain, to be used as a global P2P currency, and says it can scale just like Satoshi first laid out in the original Bitcoin whitepaper. -------------------------------------------------------------- Bitcoincash.org Rank: #5 Current Price: $257.65 Market Cap : $4,741,042,759 24 hour trading volume : 1.741 Billion USD -------------------------------------------------------------- Hi Roger, first and foremost, I wanted to thank you for taking the time to do this. You are truly a pioneer in the Bitcoin space, and all of us owe you a debt of gratitude. On behalf of all of us, I wanted to say thank you for advancing the space.
1. First, I want you to take a moment and appreciate how far bitcoin and cryptocurrency has come this past decade. Did you ever believe you would see such growth, interest, and adoption in such a short period of time or has it completely surprised you?
We always over estimate the amount of progress that will be made in the short term, but underestimate the amount of progress that will be made in the long term.
Crypto currency is another example of that.
2. At what point did it hit you that bitcoin was history in the making?
From the very first day I knew it was one of the most important inventions in the history of humankind.
The book Digital Gold goes over how I literally had to go to the emergency room because of the excitement I had for Bitcoin.
3. How did you first get into bitcoin, pre Bitinstant?
I first heard about it on the FreeTalkLive.com radio show.
A full history of the early years is covered well by Digital Gold.
4 .What economists and philosophers do you align with?
I think Murray Rothbard fits into both categories and his thinking influenced mine more than any other single author.
Others who have influenced me would include:
Adam Smith
Ludwig von Mises
Milton Friedman
David Friedman
John Locke
Henry Hazlitt
Frederick Bastiat
Larked Rose
Ray Kurzweil
6. What has been your favorite moment in crypto history thus far?
My favorite moments were reading the underlying philosophy behind the Silk Road.
The government has done an amazing job distorting and smearing the underlying message behind the site.
My eyes started to tear up when I read this post on the front page of the Silk Road for the fist time:
https://www.reddit.com/Anarcho_Capitalism/comments/29diyt/defcons_latest_post_on_silk_road/?sort=top
I never bought or sold a single thing there, but I spent countless enjoyable hours reading their forums and exploring the site.
7. What are your future plans for Bitcoin Cash?
It isn’t just a hobby, it’s a global revolt. We will become money for the world.
8. Branding is so important. Bitcoin currently has greater brand recognition a la Coca-Cola, and is regarded by many as the “real” Bitcoin, even though this is widely disputed, especially by crypto-fundamentalists. Do you envision a Coca-Cola vs. Pepsi type scenario? Do you envision parity price-wise between the two on a long enough timeline?
Bitcoin Cash has more utility than BTC, so in the long run it will have a larger market cap. Currently we are in the era when Myspace was bigger than Facebook, but Myspace’s servers were being over loaded and causing a bad user experience.
Eventually people migrated to Facebook and eventually people will migrate away from BTC.
8. a) Have you ever thought of re-branding Bitcoin Cash?
No one is in control to do such a thing by themselves. The community can’t even agree on orange vs green for the colors.
9. Bitcoin Cash has the potential to truly be used as a global form of payment rather than merely a store of value, what else excites you the most about the potential of Bitcoin Cash?
  1. Fast
  2. Cheap
  3. Reliable
  4. Private
Payments for the world. That’s all we need.
10. I asked Adam Back the same question: If you could remove yourself from the equation, and remove bias, how would you objectively evaluate the pros and cons of Bitcoin Cash versus The Lightning Network?
Anyone can permissionlessly start using BCH to start sending or receiving payments world wide in about 30 seconds. (The time it takes to download an app)
It is accepted by more than 100,000 websites around the world, and has millions of users.
Lightning Network would take about a full day to setup and get working permissionlessly, and would take several hundred dollars of additional computer hardware.
Once it is setup, you can spend it at about 300 websites world wide, and it has maybe a few tens of thousands of users.
11. When you’re not working, what do you like to do for fun? Favorite hobbies?
I enjoy reading, and Brazilian Jujitsu. I’m especially interested in doing more competitions before I get too old.
12. What are a few of your favorite books? What are some that have made a long lasting impact on you? (Can be fiction or nonfiction)
I loved the Age of Spiritual Machines. It painted a picture of how exciting the world is going to be thanks to More’s Law.
I also loved The Moon is a Harsh Mistress. I see crypto currency being a world life parallel.
13. What are you most excited about for the future of blockchain technology and where do you see the space in 5 years?
I’m excited to see wide spread wallets with strong privacy, and more agorism starting to take place around the world.
14. What are your personal theories of who Satoshi was / were, what was their motivation, and do you think something like bitcoin would have inevitably been created eventually, had Satoshi never existed?
I don’t know who Satoshi is or was, but it was clear they were trying to build a peer to peer electronic cash system, not what BTC has become today.
It was an inevitability that someone would create something like Bitcoin eventually. People like David Friedman and others had been writing about it for decades in advance.
15. What advice would you give our viewers regarding blockchain, business, motivation, or life in general?
Read more books. Reading a book like having a one on one tutoring session from the author. It’s the best way to learn directly from the greatest minds the human race has ever produced.
BONUS:
If you were a director and could make only one film out of all the wild stories regarding crypto, what subject matter would you choose and why?
The Silk Road because it embodied the spirit of peer to peer cash and voluntaryism.
submitted by blindedzeppelin to mainstreetcrypto [link] [comments]

Who is the richest Bitcoin owner?

Technically, Bitcoin was worth less than 10 cents per bitcoin upon its inception in 2009. The cryptocurrency has risen steadily since then and is now worth around $6000 per Bitcoin. This is the most remarkable appreciation of the value and has created many millionaires over the last eight years.
Here are the top ten people/institutions that held a large amount of Bitcoins over time:
1. Satoshi Nakamoto
The creator of Bitcoin, who hides behind the moniker Satoshi Nakamoto, remains the major holder of bitcoins. The number of bitcoins that Nakamoto owns today is estimated at around 1.1 million, based on the early mining that he did. This is the equivalent of about $6 billion at today’s exchange rate of 1BTC to 6,098 USD. At least Nakamoto has never touched most of his bitcoins, and neither converted them into real-world currencies nor used them for any other purpose. If he were to sell his entire stash, the value of Bitcoin could plummet in an instant.
2. Bulgaria
Bulgaria is currently sitting on one of the biggest stashes of Bitcoin in the world. How did the European nation come into the possession of this enormous sum of money? A crackdown on organized crime by the Bulgarian law enforcement in May 2017 resulted in the seizure of a stash of 213,519 Bitcoins, enough to pay off a quarter of the country’s national debt.
According to Bulgarian authorities, the criminals used their technical prowess to circumvent taxes. As of June 2018, the virtual coins would be worth more than $1.2 billion. The Bulgarian government has declined to comment on the status of the coins.
3. BitFinex
BitFinex, a crypto exchange, has one of the largest bitcoin wallets with 163,133.38 BTC that are worth approximately $1 billion at the current price of $6,098.24 per bitcoin. The coins are believed to be kept in a cold wallet to protect them from cyber hacks, unauthorized access and other vulnerabilities that a system connected to the internet is prone to.
4. The FBI
The FBI is one of the largest renowned holders of Bitcoin. In September 2013, they brought down Silk Road, the infamous dark web drug bazaar, and seized 144,000 Bitcoin owned by the site’s operator Ross Ulbricht, better known as, “Dread Pirate Roberts”. Ulbricht made critical blunders that allowed investigators to locate the site and link him to it. Users of Silk Road are said to have traded around 9.5 million bitcoins since Ulbricht launched the site in 2011. Even thought the FBI sold a large amount of their Bitcoin holdings or even all, the FBI worth mentioned as they had a fortune in Bitcoin at some point. A large portion of the Bitcoins seized and sold went to Barry Silbert.
5. The Winklevoss Twins
Tyler Winklevoss and Cameron Winklevoss were among the first Bitcoin billionaires. The duo had first gained popularity when they sued the Facebook C.E.O. Mark Zuckerberg for allegedly stealing the idea of creating Facebook from them. They were contacted by Zuckerberg to develop the ConnectU site, which was to become Facebook later on.
They used $11 million of the $65 million cash compensation they received from the legal dispute with Zuckerberg to purchase 1.5 million Bitcoins in 2013. Back then, one Bitcoin traded at $120. That investment has increased more than 20000% since then.
The twins allegedly own around 1 percent of all Bitcoin in circulation. Their combined net worth is approximately 400 million. They created the Windex, funded several bitcoin-related ventures and invested $1.5 million in BitInstant.
6. Garvin Andresen
Although bitcoin is the brainchild of Satoshi Nakamoto, Garvin Andresen is credited as the person who made it what it is today. Garvin is one of the people who has been suspected to be Satoshi, a claim he denies. Rather, he says that he had a close relationship with the anonymous cryptographer for many years. The real Satoshi Nakamoto picked him as his successor in late 2010. Garvin became the chief developer of the open source code that determines how Bitcoin operates – and whether it can survive. He was once paid over $200,000 in Bitcoin by the Bitcoin Foundation for his contributions. He had already cashed out multiple times.
7. Roger Ver
Roger Ver, otherwise known as Bitcoin Jesus, is one of the first Bitcoin billionaires and believed to hold or held at least 100,000 bitcoins. The renowned libertarian allegedly dropped out of college to focus on his bitcoin-related projects. Unlike other crypto billionaires out there who are throwing their cash in the typical private Islands or luxury jets, Ver’s dream is to establish his own libertarian nation where every individual is the absolute owner of their own life and are free to do whatever they wish with their person or property. The controversial bitcoin evangelist renounced his U.S. citizenship in 2014 and relocated permanently to a small Caribbean Island.
8. Barry Silbert
Silbert is a venture capitalist and founder of Digital Currency Group. He was an early adopter of Bitcoin. He purportedly walked away with an eye-watering 48,000 Bitcoins in an auction held by the U.S. Marshals Service in 2014. The US government had confiscated much of the crypto coins from Ross Ulbricht, the alleged operator of the dark web marketplace for drugs and other illegal products. Bitcoin was then worth $350, which means Silbert’s coins have skyrocketed in value from $16.8 million to $288 million.
9. Charlie Shrem
Charlie Shrem is no doubt one of the most controversial Bitcoin millionaires. He invested in a large quantity of Bitcoin in the early days of the cryptocurrency. Shrem was also an active member of the Bitcoin Foundation and founded BitInstant when he was just 22 years old. By the end of December 2014, Shrem had been found guilty of money laundering and received a two-year prison sentence. After his release from federal custody, he unveiled a startup called Intellisys Capital, a company that sells investment portfolios in blockchain companies.
10. Tony Gallippi
A famous business magnate Tony Gallippi is also believed to be one of the big holders of bitcoins. He is the brain behind BitPay, one of the most popular Bitcoin payment service providers in the world. The company was launched in May 2011 and processes over one million dollars per day. Bitpay is also one of the companies to sign contracts with major companies including Microsoft, Dell, TigerDirect, and Newegg. By 2014, the company had employed approximately 100 people.
Conclusion
It is estimated that the top 1000 bitcoin addresses own approximately 35% of the total bitcoin in circulation. There are also thousands of individuals who hold large stashes of bitcoin but have chosen to remain anonymous.
submitted by alifkhalil469 to BtcNewz [link] [comments]

AMA about Tether (USDT)

Hello, I trade on 6 different exchanges worldwide. I have deeply looked into the Tether situation since it could become a black swan and put a dent into my crypto wealth.
I have examined all the evidence and opinions and have found them to be unsubstantiated at best malicious at worse.
Ask me anything and I will do my best to give you my opinion on what I have found.
 
My only concerns has evolved into... is the idea of Tethers legal (compared to Liberty Reserve or E-gold). After much research on both companies and thinking it over a lot I feel USDT is actually more legit and better suited because of the openness of the blockchain. I know right??
You see they can control the ecosystem (as they did w hack) in a transparent way and they can control the outflows/inflows with stringent KYC/AML (which they have been- far more stories of people not getting approved than not being able to redeem). Their ToS/KYC/AML make it so no launderer would be foolish enough to use them, especially after hack/roll back.
On the other hand, Lib Res/Egold accepted anyone, proudly claimed to be a money substitute and their closed system provided no transparency and plenty of opportunity for nefarious activities.
 
Some key points
 
NOT more transactions taking place (across all blockchains), NOT more countries buying that didn't before (KRW/JPY), NOT Coinbase user accounts being created at an extraordinary clip this year, or the google search terms increasing exponentially, or crypto twitters growth. All differing metrics pointing to the same thing... demand. No it's easier to believe the volume is fake, wash trading, and fake tethers... all out in the open (BFX DATA) & open ledgers (USDT)
 
"But they have been saying an audit is forthcoming" They didn't increase the total amount to 100 mill till fairly recent. They are not a money making machine, they make money on money sitting in interest-bearing accts and transaction fees between the fiat world. I can see them not wanting to pay for an expensive reputable audit and thinking showing bank statements would suffice, until it didn't. So now an audit is coming.
 
 
Ex2. The amount of tethers to date is enough to horribly crash the markets but not enough to show signs that free money has been pumped into the system. If 100's of millions are pumped into the system it will show divergences (premiums/unpegged) somewhere along the trail.
 
One last thing, what if the worse is true and Tether is not backed, finex is a scam, God doesn't exist, and Trump gets elected a second term (last 2 a joke, obviously)? IMO, it creates a massive buying opportunity. There is nothing wrong with bitcoin/crypto, nothing wrong with its use case, technology or value system. Just an alt currency that only had to have the funds in account. Yes, there will be a short game of hot potato that drives Tether to zero, but that is it. Nothing fundamentally wrong w crypto. Plus I'm not 100% sure the exiting of USDT would not drive crypto higher.
Yes, some exchanges will lose their rep, customers, and traders will lose their stablecoin but perhaps that's the goal, IDK? Who benefits from failed stablecoin? FIAT, banks? One thing is for sure USDT has brought on many more exchanges, IMO is a good thing.
Also, I don't believe Tether to be the ideal way to a stablecoin. But it came along 3 years ago w no better options, has held it's pegged (even now under fire), opened up liquidity past strict/biased/predatory banking infrastructure (who benefits if USDT goes down again?). Maybe that is why they are looking into an ERC20 token that may be verified in real-time, IDK.
 
Good day to you Ladies and Gents..
 
P.S. I post my real trades on twitter @SirLamboMoon - Follow to see if I am worth a damn. I don't share charts and analyze what happenED and be as cryptic as possible about the future. I actually put my entries, targets, and stops. I developed a trading system that has been muy caliente. More info here.. https://www.reddit.com/useSirLamboMoon/comments/7cp2o7/the_system_strategy/
submitted by SirLamboMoon to CryptoCurrency [link] [comments]

AMA about Tether (USDT)

Hello, I trade on 6 different exchanges worldwide. I have deeply looked into the Tether situation since it could become a black swan and put a dent into my crypto wealth.
I have examined all the evidence and opinions and have found them to be unsubstantiated at best malicious at worse.
Ask me anything and I will do my best to give you my opinion on what I have found.
 
My only concerns has evolved into... is the idea of Tethers legal (compared to Liberty Reserve or E-gold). After much research on both companies and thinking it over a lot I feel USDT is actually more legit and better suited because of the openness of the blockchain. I know right??
You see they can control the ecosystem (as they did w hack) in a transparent way and they can control the outflows/inflows with stringent KYC/AML (which they have been- far more stories of people not getting approved than not being able to redeem). Their ToS/KYC/AML make it so no launderer would be foolish enough to use them, especially after hack/roll back.
On the other hand, Lib Res/Egold accepted anyone, proudly claimed to be a money substitute and their closed system provided no transparency and plenty of opportunity for nefarious activities.
 
Some key points
 
NOT more transactions taking place (across all blockchains), NOT more countries buying that didn't before (KRW/JPY), NOT Coinbase user accounts being created at an extraordinary clip this year, or the google search terms increasing exponentially, or crypto twitters growth. All differing metrics pointing to the same thing... demand. No it's easier to believe the volume is fake, wash trading, and fake tethers... all out in the open (BFX DATA) & open ledgers (USDT)
 
"But they have been saying an audit is forthcoming" They didn't increase the total amount to 100 mill till fairly recent. They are not a money making machine, they make money on money sitting in interest-bearing accts and transaction fees between the fiat world. I can see them not wanting to pay for an expensive reputable audit and thinking showing bank statements would suffice, until it didn't. So now an audit is coming.
 
 
Ex2. The amount of tethers to date is enough to horribly crash the markets but not enough to show signs that free money has been pumped into the system. If 100's of millions are pumped into the system it will show divergences (premiums/unpegged) somewhere along the trail.
 
One last thing, what if the worse is true and Tether is not backed, finex is a scam, God doesn't exist, and Trump gets elected a second term (last 2 a joke, obviously)? IMO, it creates a massive buying opportunity. There is nothing wrong with bitcoin/crypto, nothing wrong with its use case, technology or value system. Just an alt currency that only had to have the funds in account. Yes, there will be a short game of hot potato that drives Tether to zero, but that is it. Nothing fundamentally wrong w crypto. Plus I'm not 100% sure the exiting of USDT would not drive crypto higher.
Yes, some exchanges will lose their rep, customers, and traders will lose their stablecoin but perhaps that's the goal, IDK? Who benefits from failed stablecoin? FIAT, banks? One thing is for sure USDT has brought on many more exchanges, IMO is a good thing.
Also, I don't believe Tether to be the ideal way to a stablecoin. But it came along 3 years ago w no better options, has held it's pegged (even now under fire), opened up liquidity past strict/biased/predatory banking infrastructure (who benefits if USDT goes down again?). Maybe that is why they are looking into an ERC20 token that may be verified in real-time, IDK.
 
Good day to you Ladies and Gents..
 
P.S. I post my real trades on twitter @SirLamboMoon - Follow to see if I am worth a damn. I don't share charts and analyze what happenED and be as cryptic as possible about the future. I actually put my entries, targets, and stops. I developed a trading system that has been muy caliente. More info here.. https://www.reddit.com/useSirLamboMoon/comments/7cp2o7/the_system_strategy/
 
EDIT: was told to put an address for the headache I'm about to receive, lol. 1GTtVVfECQvecTtqUoWhXi7pYuWz5KzzTm
submitted by SirLamboMoon to btc [link] [comments]

Charlie Shrem Joins EFFECT.AI

Charlie Shrem Joins EFFECT.AI

Charlie Shrem, one of the earliest advocates of Bitcoin and BitInstant co-founder, has joined Effect.AI as an advisor.
When it comes to influential thinkers in the cryptocurrency space, few have left a bigger mark than Brooklyn born and raised entrepreneur Charlie Shrem. Back when Bitcoin was still in its infancy, Charlie co-founded BitInstant, one of the first places where users could exchange Bitcoin for traditional funds. Now 28, Charlie’s considerable experience with cryptocurrency, its key players and its opportunities make him an invaluable asset for any project that’s out to make a name for itself in the realm of blockchain.

On advising for EFFECT.AI

Effect.AI is an Amsterdam-based project that is working on a decentralized network for Artificial Intelligence and AI related services on the NEO blockchain. It was when Effect.AI announced its plans for the network’s first phase, the Effect Mechanical Turk, that Charlie Shrem became interested in joining the project. Charlie on joining Effect.AI: “It’s been a dream of mine to build a decentralized Mechanical Turk for a long time and I have always felt it was one the best possible use cases for crypto. Effect.AI is working hard to make this dream a reality and I’m very excited to have joined the team.”

Added value

Charlie Shrem’s added value to Effect.AI cannot be overstated. As an advisor, Charlie will 1. leverage his know-how to aid Effect.AI in creating a resilient, lasting and open platform for AI development and 2. assist in the acquisition of strategic partners that will make that possible. Charlie will meet with key members of the team twice a week to discuss progress on current objectives and propose alterations if necessary.

Effect.AI Whitelist opens on February 28

Effect.AI’s Whitelist registration will open on Wednesday February 28 at 9AM Central European Time (find your time zone here). Starting at 9AM on Wednesday, you will be able to sign up for the Whitelist by visiting the Effect.AI website. The process will be explained in detail there. Effect.AI’s Telegram users will get a head start on signing up for the Whitelist. Be sure to join the Telegram channel.
Effect.AI Telegram
Effect.AI
Facebook.com/effectai
Twitter.com/effecaix
Github.com/effectai
Source:
https://medium.com/@effectai/charlie-shrem-joins-effect-ai-c6c9317c6f9c
submitted by ChuffMeister to effectai [link] [comments]

[Careful] A few thoughts to Silverbugs I see new to cryptocurrencies or thinking of making the plunge

I really like this community and have enjoyed conversations and trading with many of you. Because I like you, I will give you the TLDR first so you do not have to scroll to the bottom of this wall of text.
TLDR - If you are new to crypto or thinking of investing, be prepared for the possiblity of losing (or loosing to those of you who have been around the bitcoin forums a while) 50% of the USD value tomorrow. If you think bitcoin dropping 50% in a few days is crazy talk you need to read the wall of text
Some of you may know from my pmsforsale posts that my preffered form of payment for peer to peer trades is bitcoin - i believe btc/crypto currencies have some great use cases now and there is a chance they may be a revolutionary new technology/change the way we do business and trade, and/or replace or augment gold as a store of value you can hold yourself without the need to trust a 3rd party. Another big draw for me is that each btc will always remain fungible (no btc can be declared invalid or claimed by a government or financial institution) - none can be created arbitrarily by any group devaluing what you hold. 1 btc will always be worth 1/21,000,000 of all the bitcoins ever to be created just as 1 ounce of gold will always be worth 1 oz gold/all the ozs of gold.
The above things aside, as an investment I always try to caution friends/family that it is a high risk investment and should only be made with an amount of money that would not affect your life or cause you anguish mentally if what you invest today is worth 1/2 as much in USD tomorrow and completely valueless in 1 month.
Some of you who are newer to following btc price - say the last 6 months - maybe don't believe it can really be cut in 1/2 in USD terms in one or two days but it most definitely can. I have been following bitcoin for 3 bitcoin bubbles and blow offs (we are currently in my third and by my definition the 4th major bubble since bitcoin began trading on exchanges.)
Here are how the bubbles I followed have gone down in my memory and a brief glance back at charts (dates and prices are approximate and the start and end of the bubbles, or even if they were bubbles are by my definition).
  1. Late January 2013 - Mid March 2013 (prices are mt gox for this bubble)- I was a spectator for this one as I had just discovered btc in late 2012 and was learning more about how it worked/what its purpose or uses could be. Buying btc at that time was a good deal dodgier than an ACH transfer to a federally regulated company such as Coinbase or Gemini and, although I could see the potential future of bitcoin, I also was not ready to mail someone cash or go to walmart and send money to Charlie at Bitinstant. Bubble began at approximately $20, topped out just 2-3 months later over $250. Volume increased heavily towards the top as you would expect as the hype grows and new money comes in to the bubbling market chasing the dream of big returns. This bubble crash was very violent and if I remember correctly the high and low occurred on the same day as the high of 250 with a low for the day in the 50's (I can only view weekly charts so it may not have been the same day but I am pretty sure it was). If you were the person who put your x dollars in at 250+ to see it drop 70% in a day/week would it affect your life. If you answer yes, you are investing more than you can afford. This should take in mental state as well as financial.
  2. November 2013 - I finally took the plunge into bitcoin at around 120 usd in late August 2013. The bubble began to me on the day of the silk road closing. For a long time many people in btc believed that the bulk of btc value was due to its use on the darknet market silk road, my self included. When the seizure of the website and the arrest of it's founder btc quickly dropped to around 80 but recovered most of its losses that day and was breaking out of a long consolidation period around 140 within a week or two. This breakout was the beginning of the November bubble. We topped out around 1100 on bitsamp and saw a low in the 500's within a day or two. This bear market lasted over 18 months with a final low in the 200 area. Again, if you bought at 1100 within a week or two your usd value was cut in half.
  3. The bubble I didn't witness - 2012 breakout around $6, high several weeks later at $32 with a low of $2 the same day.
The bubbles and crashes seem to be getting less volatile, which makes sense as the market becomes more liquid. That said, I fully expect the current bubble to crash 40-60% in a period of 2 weeks or less when it blows off. What I have no idea of is if it will be from 3,000 to 1,600 or 6,000 to 2,800 or any possibility.
To be clear, I am not saying don't invest in crypto. I believe if you do the research you may find it worth a portion of your higher risk investment portfolio. I am saying don't invest any funds you need in the near term (from an investment standpoint I consider near term to be 2 years or less). Also, if you plan to invest X maybe put in 1/y of X at time interval z so you don't go all in at a local top. The benefits of dollar cost averaging have been debated for eons in investing circles but I will add my 2 satoshi's - I personally do enough research to be confident enough in my decision prior to investing in an asset for the medium to long term so that a short term drop in the asset's value will not cause me to panic sell a local bottom, so once I decide to invest an amount I go all in with that amount. Do not underestimate the power of panic - it is a far stronger driver than greed which is why I believe the moves up in bitcoin bubbles can take 10 weeks or more but the bulk of move down happens in days.
Cheers everyone, and if you have any questions on btc I am happy to provide direction.
submitted by LesbianCow to Silverbugs [link] [comments]

Important announcement for US Vault of Satoshi customers

It is with great regret that we inform you that we will be ceasing our US operations effective today. If you reside outside the United States this does not affect you.
We’ve made this decision not because of any specific legal challenge or threat, but because we feel the regulatory environment in the US is becoming increasingly hostile toward Bitcoin, and more specifically toward exchanges trading in digital currencies. We’re heeding the warnings of Bitcoin Foundation and BitInstant founder, Charlie Shrem, who recently conducted a troubling interview with “Let’s Talk Bitcoin.” If you want to hear more about the situation exchanges face operating in the US, we recommend you listen to episode 87 of “Let’s Talk Bitcoin” here.
We’ve made repeated attempts to comply with FinCEN regulations, but their online form submission process will not allow us to post reports from our headquarters in Ontario, Canada. They refuse to accept printed paper reports, and their drop-downs don’t include Canadian options, making it impossible to the file the required documentation properly in order to comply. Despite repeated inquiries into how to properly file reports from Canada, we have yet to receive a satisfactory response. They’ve literally made it impossible for us to run our business in compliance with their regulations.
We make this decision with a heavy heart, and will be revisiting it as we continue to monitor the regulatory and legal position of the US government (and all of its individual States) towards digital currency exchanges. Each State has their own requirements for how to handle a business like ours, and the setup and compliance costs are astronomical. We’d like to get back into the US digital currency exchange market as soon as possible, but cannot do so until the regulatory situation is clarified and settles down. We will be exploring re-launching on a state-by-state basis, but we do not yet have a timeline in place.
If you are a US-based customer, unfortunately your account will soon be demoted to level 1, and you will be limited to coin-to-coin trading, which will be launching within the coming weeks. Any dollars currently in your account will be refunded to you via check, which you should receive within 2-3 weeks’ time. Please make sure your address is correct.
If you’re a US-based customer and have recently submitted documents for verification, unfortunately, we will not be able to verify your account at this time.
To all of the amazing American users who have helped us build Vault of Satoshi into what it is today: we value you tremendously and we hope that we have not lost your trust and support. We deeply regret that we can no longer service your cryptocurrency exchange needs, and we’ll do everything we can to re-gain your business and re-launch in your country in the near future, stronger than ever before.
To Canadian and International users, we’ve got exciting plans ahead and are continuing our to expand and cement our position in this industry. Stay tuned for more amazing innovations from our team here in Canada.
Thank you once again for your incredible and humbling support.
submitted by xportz to Bitcoin [link] [comments]

Charlie Shrem Joins EFFECT.AI

Charlie Shrem, one of the earliest advocates of Bitcoin and BitInstant co-founder, has joined Effect.AI as an advisor.
When it comes to influential thinkers in the cryptocurrency space, few have left a bigger mark than Brooklyn born and raised entrepreneur Charlie Shrem. Back when Bitcoin was still in its infancy, Charlie co-founded BitInstant, one of the first places where users could exchange Bitcoin for traditional funds. Now 28, Charlie’s considerable experience with cryptocurrency, its key players and its opportunities make him an invaluable asset for any project that’s out to make a name for itself in the realm of blockchain.

On advising for EFFECT.AI

Effect.AI is an Amsterdam-based project that is working on a decentralized network for Artificial Intelligence and AI related services on the NEO blockchain. It was when Effect.AI announced its plans for the network’s first phase, the Effect Mechanical Turk, that Charlie Shrem became interested in joining the project. Charlie on joining Effect.AI: “It’s been a dream of mine to build a decentralized Mechanical Turk for a long time and I have always felt it was one the best possible use cases for crypto. Effect.AI is working hard to make this dream a reality and I’m very excited to have joined the team.”

Added value

Charlie Shrem’s added value to Effect.AI cannot be overstated. As an advisor, Charlie will 1. leverage his know-how to aid Effect.AI in creating a resilient, lasting and open platform for AI development and 2. assist in the acquisition of strategic partners that will make that possible. Charlie will meet with key members of the team twice a week to discuss progress on current objectives and propose alterations if necessary.

Effect.AI Whitelist opens on February 28

Effect.AI’s Whitelist registration will open on Wednesday February 28 at 9AM Central European Time (find your time zone here). Starting at 9AM on Wednesday, you will be able to sign up for the Whitelist by visiting the Effect.AI website. The process will be explained in detail there. Effect.AI’s Telegram users will get a head start on signing up for the Whitelist. Be sure to join the Telegram channel.
Telegram @EffectAI
submitted by Thotholio to CryptoCurrency [link] [comments]

Charlie Shrem Joins Effect.AI

Charlie Shrem Joins EFFECT.AI

Charlie Shrem, one of the earliest advocates of Bitcoin and BitInstant co-founder, has joined Effect.AI as an advisor.
When it comes to influential thinkers in the cryptocurrency space, few have left a bigger mark than Brooklyn born and raised entrepreneur Charlie Shrem. Back when Bitcoin was still in its infancy, Charlie co-founded BitInstant, one of the first places where users could exchange Bitcoin for traditional funds. Now 28, Charlie’s considerable experience with cryptocurrency, its key players and its opportunities make him an invaluable asset for any project that’s out to make a name for itself in the realm of blockchain.

On advising for EFFECT.AI

Effect.AI is an Amsterdam-based project that is working on a decentralized network for Artificial Intelligence and AI related services on the NEO blockchain. It was when Effect.AI announced its plans for the network’s first phase, the Effect Mechanical Turk, that Charlie Shrem became interested in joining the project. Charlie on joining Effect.AI: “It’s been a dream of mine to build a decentralized Mechanical Turk for a long time and I have always felt it was one the best possible use cases for crypto. Effect.AI is working hard to make this dream a reality and I’m very excited to have joined the team.”

Added value

Charlie Shrem’s added value to Effect.AI cannot be overstated. As an advisor, Charlie will 1. leverage his know-how to aid Effect.AI in creating a resilient, lasting and open platform for AI development and 2. assist in the acquisition of strategic partners that will make that possible. Charlie will meet with key members of the team twice a week to discuss progress on current objectives and propose alterations if necessary.

Effect.AI Whitelist opens on February 28

Effect.AI’s Whitelist registration will open on Wednesday February 28 at 9AM Central European Time (find your time zone here). Starting at 9AM on Wednesday, you will be able to sign up for the Whitelist by visiting the Effect.AI website. The process will be explained in detail there. Effect.AI’s Telegram users will get a head start on signing up for the Whitelist. Be sure to join the Telegram channel.
submitted by DeadDisco931 to CryptoMarkets [link] [comments]

My biggest regret, a saved email from 2013.

12/20/13 K: Hey man, it's K. Is your name D? Anyway...getting money onto BTC-e can be tricky if you are trying to deposit USD. I kind of just had to learn by trial an error because I didn't know anyone that could teach me, because i am the only one that invests in crypto currency that I know.
Anyway, coinbase is probably the best bitcoin wallet service in the United States. It is definitely the largest and most reputable. Use this referral link: Once you sign up using this link, it will give us both some free money after you have purchased some bitcoins. The process takes a little while to get all started up, but it is worth it because it is so easy to use after. You can instantly buy bitcoins, and then use those bitcoins to send to BTC-E to purchase whatever other coins you want. I invest pretty heavily in LTC. The only way I have been able to do that is by buying bitcoins on coinbase, and then sending them to btc-e. Let me know if this works for you..
K: Let me know if the email reached you
D: Yep. I got it. Two to three days for the deposit verification into my bank account. Thanks for the advice. I take it you work in finance?
K: Yeah I do :). Coinbase takes a bit for the verification process but it is super easy to use after that. When you sell bitcoins, they just deposit the money right back into your bank account. It's the easiest service that I have found that is reputable.
D: Have you ever tried trading for small margins? I made about 0.60 USD since I started last night. I got my initial funding by mining FTC. I'm trading BTC.
D: Actually up to 10.81 after my last trade. Got in at 625 and sold at 639.
K: I mainly buy and hold for long term. I bought some NMC to flip, but it dropped in value steeply so im still holding it. I buy more every time it dips. Sent via wireless, please excuse any typos...
D: Cool. No worry about typos. I type all day at work so don't mind as well. I give up on accuracy at 5. My friends also aren't very much into crytpo currencies. I like the technical aspect but I'm more interested in trading on BTC-E. I must have watched about 12 hours of bitcoinwisdom since yesterday. It was my first time analyzing real time data. I can't believe how much info you can obtain just from identifying patterns. I have a quick question about a 401k if you don't mind. So far my year to date is 26%, is that good?
K: Yes, very good. You must have had it set up aggressively with the investing choices (which is better to do when you are young). Good stock market returns are around 12% so you are more than double, but don't be surprised if there is a correction to lower on the returns there too.
D: Yes. I'm over 50% in small cap and am young. Is there anyway to avoid that correction by reallocating?
K: Nah, just leave it. At least you have a 401k, most people are paycheck to paycheck
D: Defiantly. I can't imagine how some of my co-workers get by paying overdraft fees each month. Have a good night. I'll let you know when I buy some coins on that site.
K: Cool, let me know. Let's make some money! :)
12/22/13 D: Howdy K, I'm still waiting on the deposits in my bank account by Coinbase. Thanks for the referral link, I'm looking forward to that free $5 of BTC. Up to $12.30 USD on BTCE, looking to break $13 tonight. Can't wait to get some more trading funds.
K: It takes a bit for the initial deposit. I think it took my bank almost a week :(. Once you are done though everything is quick. If you add a credit card too, you can buy up to 10 btc instantly per week
D: Awesome. Have any suggestions? (pic) attaches picture of small gains trade history
K: What do you mean by sugggestions? Like on your trading?
K: Can you deposit more money? It looks like you aren't fully able to enjoy the full gains of your trades because the amounts that you are trading are a little small. If possible I would suggest buying 1 btc when the price is the lowest of the day, and then trade from there..
K: Also i would stay away from ftc for time being
12/24/13 K: Hey bud, i just got some free money from coinbase :) did you get it too? Pretty cool huh?
D: Yes sir. 4 days for my order to fill, can't wait.
12/25/13 D: Merry Christmas!
K: Merry xmas! If you add a credit card you can instant buy up to 10btc. What other coins are you buying right now? I mainly just have BTC and LTC
D: Does the credit card have to be a Visa? I'm mining about 8 FTC per day and trading for BTC at market. Then I trade BTC/USD for 0.10 - 0.40 profits. Working on a spreadsheet right now which you can see if you are interested.
D: spreadsheet sends corny orange and grey spreadsheet
K: Think it can be mastercard or amex too...
K: Nice LTC rally today :). I just picked up more LTC yesterday too
D: I tried adding a mastercard and discover but it wouldn't work. I've been watching the rally. Waiting to buy in to BTC at $656.
K: Shit that sucks, email support and ask if they accept mastercard? I find that odd that they would only accept visa
D: No worries. Deposit should clear 12/31
12/29/2013 K: Hows it going? Did you get your btc?
D: Hey K. Not yet, they will be deposited 12/31. Bought at $651
K: Nice so you are already up :)
K: How much did you buy? You should buy some and hold long term if possible too
1/2/2014 D: Happy New Year, K. I only bought 0.2 BTC for about $131. I'm at a total balance of $179.07. Started mining FTC again for the few extra dollars per day.
I think I read somewhere that there is a cap of 21 million BTC that will ever be in existence. 21 million on the internet is subtle considering how many views cat videos get on youtube. 21 million out 7 billion people is even smaller. Sometimes I find it hard to imagine millions and billions but I always think about this one thing: 1 million seconds is about 11 days, 1 billion seconds around 31 years. I'm very optimistic about the long term. Probably going to set aside at least 1 BTC in the near future.
Have you ever seen BTC listed on ebay? I created an auction yesterday for 0.1 BTC, $120.00. It sold within 3 hours but the buyer flaked out after I told them they would be receiving the BTC-E redeemable code in the mail. They created a dispute stating that the ebay/pal accounts were accessed by an unauthorized third party which is currently in process. I didn't lose anything and actually sold back the 0.1 at $775 after buying at $740 last night. I'm considering re-listing some BTC on Ebay but don't want to deal with reversed payments. Have any insight?
K: I heard ebay can be a nightmare with sellers getting scammed by buyers with chargebacks. If you are going to do it, I would recommend selling maybe paper wallets only, that you actually have to mail to them. That way you can have a tracking number for your shipping. If you want to sell through paypal, be careful, I think any mention of crypto currency can get your account frozen. Not positive about that though. Try selling to people on the forums, I think that would be easy. Honestly, I think just buying what you can and holding long is the best option to make the best returns. Look how the market has gone today D
K: 21 million BTC is not even enough btc for each person in my state to have 1, let alone the United States, or the entire world. As long as the demand stays high, the price could become astronomical if some major players like wall street enter the game. Just think, if Wall Street threw like 100 mill at Bitcoins (which is not that far-fetched), the price would probably jump to like 3-4k per BTC after that 1 day alone…
D: I don't think I'm going to sell anything else on Ebay until I come up with a better way of protecting against charge backs. The market has been awesome today.
D: That's very true. I think my next purchase will be 0.5 BTC to keep in my wallet.
K: Have you seen the stuff on zerocoin? Looks interesting, should be out this year...there has been a lotta hype around it..
D: Haven't heard anything about it until just reading an article now. Looks interesting and they make a good argument about anonymity. I only read over it briefly, but it appears what they're proposing would add an additional transaction fee the the process. Cool concept. Are you good with candlestick charts and patterns?
K: Somewhat. I learned them in college but stopped using them until now, so I am pretty rusty…I get the concepts and all, but I am not a professional at them by any means. I saw my buddies wallet the other day…he is pretty stacked. Over 250btc and over 1000 LTC!
D: That is pretty stacked. About 500k stacked, right? Are you familiar with the creator(s) of bitcoin "Satoshi Nakamoto"? Is it actually one person? There are quite a few claims as to who or whom Satoshi may be.
K: Im not familiar, i heard it was a team of people under that one name
D: I wonder if it was created by a goverment. Like some NSA type agency. Kinda like how the darknet started off as a Navy project.
K: Nah I doubt it. Government wouldn't create something that could possibly pose a threat to its own currency.
D: That's a good point. The future of BTC is exciting.
1/6/2014 D: Started trading NMC recently. Check ou the spreadsheet attaches another shitsheet Still just testing the water before I start making bigger trades. Buy any more BTC/LTC lately?
K: Cool man.. Year i got some LTC at $16 right before it went back up :)
1/7/2014 D: Nice buy. Catch the market today? China's equivalent of Ebay banned the sell of btc, ltc, mining gear, etc.
My understanding on of China: China’s central bank regulated the virtual currency for the first time on Dec. 5 by banning financial institutions and payment providers from conducting transactions in the virtual currency
Chinese central bank officials told third-party payment service providers to stop offering clearing services to online Bitcoin exchanges
China's Ebay bans sell of BTC in accordance to the central bank's ban effective Jan. 31. Acting as a clearing house of BTC.
I'm now $180 long NMC. I might invest 1k soon on BTC, any thoughts on an upcoming entry point?
K: Hmmm not quite sure on entry point. I am in the red as of today on NMC. Im trying to get it back to 0.01 btc to convert my nmc back to btc, i missed it on the last push. If you are investing 1k and holding long, then any of the daily ups and downs dont matter because in the long run we hope it will be way up. If i were you, i would just wait for a big red candle and then try to by at the bottom. Maybe $800/btc is good?
K: The part that sucks is that it seems like BTC value works so hard to creep up and up slowly, and right when it seems like it is going to pick up some momentum, BAM! More bad news comes out and slams the market. This cycle seems to keep repeating over and over right now…
1/9/14 K: I got 2 more btc :)
1/27/14 D: Sorry, haven't check this email account for a few weeks. Been working a lot of OT. What price did you buy in at on 1/9? I just sold a majority of my coins for cash. I picked up 3 LTC at 19.50 though. What's gonna happen 2/1/14?
Also, do you know how long it would take for a tax return check if you have your taxes in prior to the 31st? I finished those 2 weeks ago if it matters.
The other day the dow finished pretty low. Do you have any thoughts about the US economy over the next 6-12 months?
K: What’s up man…huge dump off of BTC right now on almost all exchanges (except gox which is bs anyway). I bought some more LTC at around $19 too.
I am holding all for long haul, although it would have been profitable to sell this morning, and re-buy after this dump off. I have no idea what is going to happen on 2/1. Last time when senate met, everyone thought the party was over, and then there was a huge rally in prices instead.
I am trying to figure out the right price to buy more btc right now… what do you think?
D: Sorry. Copied and pasted instead of attaching the pic. I think we'll have to see if it breaks that support. What about the arrest of that guy at bitinstant? *attaches picture of BTC 4h chart with a random line pointing downward
K: I don’t think that one arrest will tank the market like that. I am wondering if the confiscated silk road funds are being trickled through the exchanges by the feds. It seems weird the sell off right now. It almost seems systematic. Like there is a huge sell off that clears all the buy orders. Then it is calm for a few minutes, then repeat. Really strange…
D: But I wonder how they brought charges on him? Could they hold anyone accountable who sold BTC to a person using it to buy drugs on silk road? If the Feds are selling that would explain it. They seized 144,000 and they're saying the owner of silkroad may have 600,000 stashed in a wallet.
K: I think the number is more like 30,000 btc
D: The spokesperson says the approximately 26,000 Bitcoins seized are just the ones that were held in Silk Road accounts. In other words, it’s Silk Road users’ Bitcoin. The FBI has not been able to get to Ulbricht’s personal Bitcoin yet. “That’s like another $80 million worth,” she said, explaining that it was held separately and is encrypted. If that is indeed what he’s holding, that’s close to 600,000 Bitcoin all together or about 5% of all Bitcoin currently in existence. (Update 10-25: The FBI says it’s seized 144,000 Bitcoins, or about $28 million, that it believes belong to Ross Ulbricht.)
K: I don’t understand how they were able to confiscate them, when bitcoins are not yet considered money, so they shouldn’t fall under forfeiture rules…
1/17/18 - D: Wish you the best K and hope you held those coins longer than I did.
TLDR: Meet a friend in December 2013 that gave me advice to buy and hold BTC long term. This is one of our email threads from around that time, edited to remove personally identifying information. I used all my bitcoin for pizza following the fall of Mt. Gox and the subsequent bubble burst.
submitted by hampering to CryptoCurrency [link] [comments]

Changelly scam... I think so.

I've been very patient with Changelly since August 5th when I submitted my first support ticket on this matter. Now that it's clear to me that Changelly runs a drag-it-out support strategy, it's time to go public.
Is Changelly a scam?
You be the judge... please leave your opinion in the comments.
CONTEXT
The transaction (Tx) at issue here is BTC for GBYTE (Byteball).
For those not familiar with Byteball:
Byteball has no mining; its native currency - white bytes (GBYTE) and black bytes (BB) - was created back in December 2016 and has since been distributed, as widely as possible, via ~monthly airdrops. Every full moon since December, a "snapshot" has been taken of the balance of bytes held on each and every Byteball address, and of the balance of every registered BTC address. Shortly thereafter, each address receives new bytes based on the balance at the time of the snapshot.
The last snapshot was August 7, 2017 18:10 UTC (11:10 PDT), and new bytes were distributed as follows:
One last thing: Byteball's immutable ledger of Txs is stored in a construct called a DAG (Directed Acyclical Graph), analogous in function to bitcoin's blockchain.
WHAT HAPPENED?
On August 5, two days before the Byteball snapshot, I initiated a Tx with Changelly to trade 20 BTC for ~105 GBYTE. Changelly took my BTC, but held on to the GBYTE through the snapshot, collected the airdropped Byteball reward based on the balance of my funds, and then, 4 days after I initiated the Tx, sent ~105 GBYTE.
Changelly effectively stole my ByteBall distribution reward.
When hours had passed and still no GBYTE, I sent my first ticket, and support responded:
"It seems that there could be some technical issues either with our wallet or with Gbyte network. We will investigate the matter. We have forwarded your request to the technical department. They will push your transaction through. We will inform you, once your issue is resolved!"
On August 7th, before the snapshot, I submitted two more support tickets. I told Changelly that if they couldn't deliver the GBYTE before the snapshot, I wanted my BTC back. Support responded on August 8th 2:06pm (long after the snapshot):
"Unfortunately, we cannot refund your bitcoins since they have been already converted into GBYTE. But you will receive the same amount since your money has been already exchanged. Please confirm your GBYTE wallet address and we will repeat payout. All the issues seem to be fixed now, so it should work."
I responded, explaining why the only reasonable remedy was for Changelly to refund my BTC. I did not confirm any GBYTE wallet address.
Support ignored me and sent the following on August 9th:
"Good news! We have received the response from the exchange and now everything has been delivered!"
I wrote to Charlie Shrem, an advisor to Changelly, and he forwarded my complaint to Changelly CEO, Konstantin Gladych. I've also emailed Gladych many times directly myself. Zero response.
CIVIL LIABILITY
Under civil law, Changelly has been unjustly enriched and is liable to pay restitution.
Unjust Enrichment. A general equitable principle that no person should be allowed to profit at another's expense without making restitution for the reasonable value of any property, services, or other benefits that have been unfairly received and retained.
This principle is widely recognized and applies to Changelly here regardless of whether they did anything wrong. This is essentially why Coinbase and Poloniex changed course and gave their customers the BCH that was due to them.
CRIMINAL LIABILITY
Changelly is clearly liable under civil law.
What about criminal liability?
Using a DAG explorer, we can browse Byteball's immutable ledger of Txs and discover the following:
All Changelly had to do was send it to me. What happened?
The DAG shows that the GBYTE was diverted to the following addresses, which subsequently received the airdropped GBYTE that rightfully should have gone to me:
  • 31,447,997,156 to CBCYP2UY6YX2FJX6OXNDHBQO4VREDUJL
  • 51,788,023,285 to QAHP5Z4P6QQV4S3MUVTOJM5D7SJDWPSD
  • 21,763,859,830 to 6H5USZBXMOYUAGCYEYF7P3A6QU2EJBCT
  • 306,636,259 to QR542JXX7VJ5UJOZDKHTJCXAYWOATID2
The DAG also shows plenty of Tx activity over the relevant time period, also strongly suggesting no technical issues were to blame for Changelly's delayed Tx.
Did you know…?
Under the Czech Republic's Code on Corporate Criminal Liability both Changelly and the individual perpetrator(s) would be criminally liable.
WHAT NEXT
Changelly… fix this immediately.
Up next we’ll explore…
  • how to connect employee identities to the suspicious Byteball addresses
  • inner-workings of Changelly
  • the Bittrex and Changelly APIs
  • behind the scenes of the Changelly-Bittrex connection
  • Konstantin Gladych’s relationship with the European Cybercrime Center
  • presenting evidence to Czech and U.S. prosecutors
  • comments from devs re: Changelly’s technical excuses for failed Txs
  • similarities and differences between Changelly and BitInstant
submitted by Nttwo to CryptoCurrency [link] [comments]

Vault of Satoshi to cease US operations starting today

"It is with great regret to inform you that we will be ceasing our US operations effective today. If you reside outside the United States this does not affect you.
We’ve made this decision not because of any specific legal challenge or threat, but because we feel the regulatory environment in the US is becoming increasingly hostile toward Bitcoin, and more specifically toward exchanges trading in digital currencies. We’re heeding the warnings of Bitcoin Foundation and BitInstant founder, Charlie Shrem, who recently conducted a troubling interview with “Let’s Talk Bitcoin.” If you want to hear more about the situation exchanges face operating in the US, we recommend you listen to episode 87 of “Let’s Talk Bitcoin” here[1] .
We’ve made repeated attempts to comply with FinCEN regulations, but their online form submission process will not allow us to post reports from our headquarters in Ontario, Canada. They refuse to accept printed paper reports, and their drop-downs don’t include Canadian options, making it impossible to the file the required documentation properly in order to comply. Despite repeated inquiries into how to properly file reports from Canada, we have yet to receive a satisfactory response. They’ve literally made it impossible for us to run our business in compliance with their regulations.
We make this decision with a heavy heart, and will be revisiting it as we continue to monitor the regulatory and legal position of the US government (and all of its individual States) towards digital currency exchanges. Each State has their own requirements for how to handle a business like ours, and the setup and compliance costs are astronomical. We’d like to get back into the US digital currency exchange market as soon as possible, but cannot do so until the regulatory situation is clarified and settles down. We will be exploring re-launching on a state-by-state basis, but we do not yet have a timeline in place.
If you are a US-based customer, unfortunately your account will soon be demoted to level 1, and you will be limited to coin-to-coin trading, which will be launching within the coming weeks. Any dollars currently in your account will be refunded to you via check, which you should receive within 2-3 weeks’ time. Please make sure your address is correct.
If you’re a US-based customer and have recently submitted documents for verification, unfortunately, we will not be able to verify your account at this time.
To all of the amazing American users who have helped us build Vault of Satoshi into what it is today: we value you tremendously and we hope that we have not lost your trust and support. We deeply regret that we can no longer service your cryptocurrency exchange needs, and we’ll do everything we can to re-gain your business and re-launch in your country in the near future, stronger than ever before.
To Canadian and International users, we’ve got exciting plans ahead and are continuing our to expand and cement our position in this industry. Stay tuned for more amazing innovations from our team here in Canada. Thank you once again for your incredible and humbling support."
Facebook printscreen: http://i.imgur.com/akFcysj.png
submitted by hjras to Bitcoin [link] [comments]

What's coming: colored coins could allow P2P exchanges and value stability on the bitcoin network.

I see very often here people asking for P2P exchanges or open source P2P servers, but since there are many bitcoin newbies I think it's valuable to share with everyone a few innovations happening right now that could help bring those things.
Colored coin is an innovation on "smart properties" the concept of taking a few of your satoshis and giving it some value that is bigger than the nominal value of bitcoins on them. Because all coins can be tracked to their origin, anyone can keep check of ownership of those coins. For example a bank can issue a bunch of promises saying "I promise I will give the owner of this satoshi an ounce of gold" and then sell those colored coins at however price other people are willing to pay.
Or, for example, Bitpay could whenever someone asks to convert their bitcoin payments in dollars could instead of just adding it to it's internal database, give the owners colored coins that were worth bitpay credits, redeemable for a fixed amount of dollars.
This is where P2P exchanges get in. Imagine that whenever you open an account and deposit money in Mt Gox, instead of that credit being stuck inside MtGox servers they gave you back in colored coins worth "MtGox Dollars". As long as you can find someone that trusts in MtGox, you can exchange those MtGox dollars for any amount of bitcoins you could agree on, just using your own bitcoin client.
If someone is willing, he or she could also accept MtGox directly for a payment for a service, or exchange it for colored coins of other denominations, like BitInstant Euros, Silk Road Pounds Or Shady Pirate Gold.
Thus along as you trust the issuer, you could never hold bitcoins, but hold any other currency you wish. You might not trust the value of bitcoin longterm but if you can still use cryptocurrency innovations to hold a diverse portfolio of gold, dollars, euros and bitcoins.
Even if you don't trust completely the issuer, you can still use the system. Say you owned $100 worth of BitFloor credits in colored coins. Even if Bitfloor is shut down by it's corporate banks, if some other entity is willing to assume it's bill – say the completelly unrelated Bitfloor Cayman Islands Inc – they can accept that credit and exchange for something else. Or you can request that any "colored coin" is worth at least an x amount of satoshis – so if Shady Pirate Gold Corporation just disappears, you still have a minimum amount of bitcoins.
If this sounds like reinventing fiat money, this is exactly what it is: a 21th century reinvention of 18th century non-governamental private banknotes. It might not be your cup of tea but those are very welcome innovations and could really be useful for everyone.
How can you help?
submitted by avsa to Bitcoin [link] [comments]

TNB Team member & Advisory Board

Since I'm pretty much curious to know about MIT(Miao'A International Timechain) and the TNB team, I'll list my findings and links below.
TNB Whitepaper:
https://tnb.fund/pdf/TNB_business_white_paper_en.pdf?v=1.0.1 (PLEASE READ THROUGH)
MIT Team(Taken from whitepaper):
Vincent Lim:
Graduated from National University of Singapore with bachelor degrees in computer science. Former Dell executive and expert in data fields.
Andrew Wong:
Seasoned corporate executive with more than 30 years of Microsoft, Oracle and Akamai. Strong experience to develop full business process in a technical company and translating the technical terms into commercial value for business stack holder. Bachelor degree of Management & Economics from Guelph.
LinkedIn profile: https://www.linkedin.com/in/andrew-wong-59906b21/
Chris Weilacker:
Served as an investment advisor for a China public Holding company, and contributed to the M&As of 2 companies, allowing the public holding to become the only private company to obtain a carrier fiber license; Co-Founder of a start-up company providing taxi calling service in China; Obtained Bachelor’s Degree in Business Management from California Polytechnic University with a strong computer science background
LinkedIn Profile: https://www.linkedin.com/in/chrisweilacke
Best Liang:
Seasoned corporate executive with more than 18 years of sales and marketing management, 10 years as executive serving largest IT company in the world wide, Open Text, HP and Akamai. Graduated from Harbin Institute of Technology (HIT) with bachelor degree in computer science. Diploma of Executive Programme from China Europe International Business School (CEIBS).
Investment Board & Advisory Team
Dfund:
A leading digital asset capital focusing on top ICO projects, initiated by renowned digital currency investors
Charlie Shrem:
Charlie Shrem is a cryptocurrency pioneer having started the first Bitcoin company in 2011 BitInstant. After growing BitInstant to handle 30% of all Bitcoin trading, Charlie founded the Bitcoin Foundation and served as its Vice Chairman in 2013. Since then Charlie has built and advised dozens of Blockchain projects
Twitter: https://twitter.com/CharlieShrem?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Matt Branton:
The distributed computing expert, with over fifteen years of experience in payment and trading system design and architecture. He was a founding partner at World Financial Desk, a high frequency trading firm specialized in fixed income and derivative products. An early Bitcoin adopter, he started Coinlock for micropayment content delivery and has spent the last five years building smart contract, distributed ledger and tokenization systems at Ember Financial. He is currently working on the synthetic mining system Bitcoineum, and it's decentralized derivative platform ACE.
Roy Li: Celebrated security and IoT expert, founder of the IoT OS Ruff.io, Advisor for Master students in Fudan University. Ruff.io was funded by Geek Founders, Jinglin Capital and Hike Capital.
Personal Note: There are several articles on Roy Li in Chinese, do check it out
Website: Ruff.io
Raymond Tan:
Celebrated blockchain and big data expert, North American Blockchain Association co-founder, 13 years of Microsoft experience, Bachelor of Science from FuDan University, Master of Science from Duke University, author for "Blockchain 2.0" and seven other technical books.
Alex Goh:
Seasoned corporate executive with more than 15 years of sales and marketing management, 10 years as executive servicing 2 of the largest IT Company worldwide – HP & Dell, Bachelor of Commerce from University of Melbourne, Master of Management from Macquarie University.
LinkedIn Profile: https://www.linkedin.com/in/alex-goh-0354805/
Special Mention
Zhao Dong OTC trader, Bitfinex shareholder and a believer in TNB, huge trader in Bitcoin with a solid track record on LocalBitcoin and Bitcoinforums.
Twitter: https://twitter.com/zhaodong1982?lang=en
That is all I have for now. If I have anything to add or mention, I’ll create another new thread to post my findings.
NOTE: ALL OF THE INFORMATION ARE GOTTEN ONLINE AND SUITABLE SOURCES. I AM IN NO WAY ABLE TO VOUCH FOR THE VALIDITY FOR THE INFORMATION I SOURCED. DO YOUR OWN RESEARCH FIRST
Help this poor guy out:
TNB: 0xd3e973294cfe9cdbe162ec6fe917b985bd088a43
submitted by Redditor_questions to TimeNewBank [link] [comments]

Are you interested in playing the market or "Day-trading," as they sometimes call it? I am here to share my hard earned wisdom with you :)

I know not everyone here is a fan of playing the market. That said, in addition to supporting the doge economy in other ways I do this and I know others do as well. And If you choose to play the market, I don't want you to get burned! I want you to prosper! So heres some advice for you, if a trading shibe is what you are or want to become :)
Firstly, do not invest more than you are willing to lose. Period. I treat the market more like a game than like a financial investment, although it technically is one . Every loss and gain serves as psychological reinforcement for better decisions in the future. You WILL experience gains, and you WILL experience losses. Always accept this and move on. Do not become attached to the feelings of success or defeat in these situations. Attachment to the valuation of your investment can have severely negative psychological repercussions. There was a reason bitcoin had a suicide hotline post after its price drop recently.
Playing the market is not for everyone. If you win at the market, great! If you lose, brush off the dust and move on. Either use your lessons of defeat as a lesson for future trading, or get out of the trading game. Whatever you do, don't get in this and tear yourself up with your emotions. If playing the market, win or lose, makes you happy, continue to do so! If it doesn't, spend your time doing something else. There are other monetary opportunities in the world that may suit you better.
Some background on me (mid-20's with no prior experience in investing before cryptocurrency) I am fortunate to have made some decisions in the past that have worked out. For what it's worth, I have netted around 2000% of what I initially invested over the course of the last year in cryptocurrency. And let me tell you, It has not been easy! But, being the type of person I am, it has been a very rewarding experience that has changed how I think of finance forever. Even if I lost it all (I am largely invested in DOGE long term fyi), I have learned so much about the value of good finance that my life will ultimately benefit.

This guide was largely written in the order that it came to my mind. No order of importance here. Note that this is largely a guide for day-trading, and does not touch on many important aspects of investing. And oh my doge, is there so much more stuff I could write here, but I don't want to write a book. I want to write a little reddit post. If you want my opinion on anything that I haven't touch on here though, feel free to ask!

During the peaks of these large price fluctuations, don't panic buy or panic sell if you're on the wrong side of things. Price drops generally happen faster than price rises. This is because of the psychology of losing. Perceived loss is more powerful in moving markets than perceived gain. That said, moments of large price swings are often great opportunities if you are on the right side of coin at that moment, so to speak.
Many times, price walls will be pulled as soon as the market reaches them. This is evidence that price walls are often simply placed to psyche the market out. The take-home here is that the order-book tells you a story of what may happen, but it doesn't necessarily tell the whole truth of what will happen.
Opportunities are easier to take than to make. Don't force them and always make sound decisions. Even if it means staring at the order book for 2 hours before making one. And trust me, staring at the order book for a long time works in your favor! I keep it up while I study. It's a good thing to just have going on in the background for my lifestyle.
Don't panic chase profit after having a sizeable loss. This is the quickest way to lose more money. Again, be patient and wait for the right opportunities to happen.
Time has to take its course. Do your research and above all think outside of what's happening from minute to minute. Notice week trends, month trends. Pay attention to the news and know what's going to happen in the market long before it happens. For example, don't let downward movement in price distract you into panic selling when there is good news on the horizon, unless you are certain you know what you are doing.
Have goals, and plans for what to do for when these goals are reached. Goal setting is a powerful psychological technique. Perhaps you plan on taking half of your gains out for profit when you reach X profit. Great. Whatever you do, stick to your plan! It is your best friend. Don't let greed overcome you, and trust me, often it will try.
Always be 2 steps of everyone else. Know what you're going to do before the market throws it at you.
Most likely, you are a fish or even a minnow in the ocean amongst the whales. In these circumstances, day trading is hard! Real hard. 100 times harder than it is for the whales. Don't deceive yourself into thinking this is easier than it is. A successful fish has to be very conservative and prudent in his decisions before he can go out and get bigger and have a larger effect on the ecosystem of trading, and even then, his decisions will carry less weight than the whales. Do what is to your advantage in your situation. Everyone has to eat, so to speak, in the ocean. Don't be stupid and put yourself at a whales mercy, or for that matter, at all the other fishes mercy. Take your opportunities to eat when they come!
Remember, not everybody can win at the market! For every winner, there is a loser. Maybe day trading isn't your cup of tea. Holding onto your investment (assuming you believe strongly in it) is almost always a sound decision :) And for the love of doge remember: don't hoard all your investment! Support your economy and your community. They are much more of a sound and rewarding investment than your day-trading profits will ever be! I believe it is more than money that unites us here, so lets remember that :)
Edit: TL:DR
Day trading is hard as hell, and statistically you are likely to lose. Yet, however unlikely, with perseverance and wit, you may just be able to do it right ;)
Edit 2
Day trading is really, really, really hard. I don't want to give you guys the impression that it is a way to get rich quick. I would honestly seek out opinions that are contrary to everything I have said before you ultimately decide to do so.
Edit 3
I should emphasize that I am a very careful trader. More often than not I am in a holding pattern. Whatever day-trading means to you, there are times when you can make things work for you. Take for example, when dogecoin initially reached 200+ satoshi range. It was obvious it was going to take a dive, in my opinion... and I capitalized on that. Same thing with the bitinstant arrest. On the contrary, I sold too early when dogecoin was on its rise from 80 to 220 (sold at 175); however I met my goal and realize that if things swung the other way I would have regretted not selling. Point in case; there are times when it is more appropriate to play the market than others, and a specific attitude to take going at it(I define playing the market as buying/selling with the intention to buy/sell at a later time).
My personal opinion is that doge is looking bright in the future. For those who are making a monetary investment in doge and haven't traded much before, don't day trade it all. Might I suggest you use a smaller amount that you could more tolerate losing and see how you do with that first.
submitted by matty_t to dogecoin [link] [comments]

Purchase (almost) Anything with Bitcoins

Hello Bitcoin!
I have been following the community from the sidelines for a few years now. I've read everything I can, picked through the source code and papers and learned a lot of crypto in the process. It has been difficult at times. I thought I had "missed the boat" when the bitcoin exchange rate was skyrocketing. I was disheartened when the value crashed and it was dismissed by my friends. I was anxious when my GPU mining was eclipsed by dedicated rigs and FPGAs. Still, Bitcoin has pushed through it all and come out stronger for the wear.
There is enough evidence to convince me that the benefits of cryptocurrency are so numerous as to make its adoption inevitable. One day, we will wonder how anyone could have doubted the effect a purely digital currency would have, just like how the benefits of internet itself seem so obvious to us now. Yes, the value will fluctuate, but I firmly believe that cryptocurrency won't just disappear overnight with so many people collectively working to strengthen and grow the system.
There are still challenges ahead. One that has had a lot of attention recently is that bitcoins only have value if they are being used. Otherwise, the value is just based on speculation, and we all know what problems that has caused.'
Bitcoin Friday is a great idea, and projects like the BitInstant Paycard could certainly help with this in the future, but there is centralization, fees and a lot of trust involved here. I don't think this meshes with what should be a truly p2p system: we need to be able to use bitcoins as money without having to trust anyone. Today, I'd like to start using Amazon Gift Cards to help fill the gap.
This is what I propose:
I will gift brand-new Amazon Digital Gift Cards to you in exchange for your bitcoins.
This allows anyone to turn bitcoins into goods/services, but we cut out speculators that trade in the currency and don't actually provide value or grow the market. You have to actually be buying something for this to be useful to you, which is exactly the point.
I hope that by posting with my real account and name, you will have confidence that my intentions are good and I will not scam anyone. Still, the whole point of Bitcoin is to minimize trust, so this is what I propose:
The exchange rate is pegged to the median value of the three USD market prices on the front page of bitcoincharts.com. For simplicity, I'll peg the rate today at 0.4371 BTC = $5 USD
  1. PM or post:
    • total US dollar value of Amazon Gift Cards you wish to purchase
    • the email address you want them sent to
  2. I will purchase a $5 USD gift card and send it to you. I am going out on a limb here to show my good intentions, and I will trust you first. In the gift note, I'll include the destination address for your 0.4371 bitcoins.
  3. You fund the transaction by sending bitcoins to the destination address.
  4. I monitor the destination address. As you deposit bitcoins, I will purchase gift cards for you, up to the amount we agreed on. We can do this $1 at a time, $5 at a time, or $50, your choice. Amazon sets the minimum amount at $0.15, so I can't send cards smaller than that.
Comments? Questions? Let me know!!
Edit 1: Thanks to everyone who's contacted me so far!
Edit 2: Well this has been fun, but I'm signing off for the night. I'll leave this post as a standing offer until otherwise noted.
submitted by karlgluck to Bitcoin [link] [comments]

A Step-by-Step Guide to Creating an Anonymous Wallet for Covert Practices

A Step-by-Step Guide to Creating an Anonymous Wallet for Covert Practices
With the recent Bitcoin “bubble” fiasco and the subsequent rise and fall of Bitcoin value, it seems that this subreddit has become obsessed with making money. But get-rich-quick schemes are not at the heart of Bitcoin. Instead BTC should be seen as a way to keep Big Governments and Big Businesses from knowing how much money you have and what you choose to spend that money on. As a currency, it doesn't matter how much the value fluctuates if you plan on spending your wealth on sites like the Silk Road and etc.
(OK, maybe it does matter a little bit if the money you spent yesterday is worth twice as much today; but this guide is for spenders, not hoarders. Or at least for hoarders who also like to spend.)
Let's discuss my favorite attribute of the Bitcoin protocol: anonymity.
Many noobs getting into the Bitcoin game fail to realize that anonymity is an important key to understanding the importance of Bitcoin. In places where your wealth can easily be taking away from you (see Cyprus, Russia, China, the USA and others), Bitcoin can function like a store of cash buried in a dessert in the middle of nowhere – buried so deep that nobody can find it, not even the most powerful men and women on Earth.
POINT: If you are purchasing your Bitcoins through services like Coinbase or Mt. Gox, and if you've ever given your real name and bank account information to a Bitcoin Exchange, then you are NOT anonymous. Your Bitcoins can be traced back to you. Your purchases are recorded in the blockchain, and although it's difficult, it's certainly not impossible for those with the knowhow to find you and prosecute you. See this link before continuing.
Bitcoin is not inherently anonymous. You must take steps to protect yourself in order to keep your identity a secret. And even still, if you don't know what you are doing, you run the risk of being caught. So if you care about hiding yourself and your money, I offer this guide as a way to accomplish secret purchases and covert trades. Of course I cannot guarantee you won't end up in jail. At the end of the day, nobody knows how closely governments are tracking BTC purchases over the TOR network. Some people even believe that the TOR network was created by nefarious forces. I doubt it, but you never really know.
STEP ONE: Anonymous Hardware
Because you cannot really know whether or not you are being watched, your first step in creating an anonymous wallet is to protect yourself by buying a cheap laptop computer and removing the hard-drive. Really, who needs a hard-drive anyway? Toss it in the garbage.
STEP TWO: Anonymous Software
If you don't know how to download a Linux LiveCD, then stop reading now. You are probably not skilled enough to protect yourself anyway. If you don't know how to download a Linux LiveCD, then proceed with extreme caution; downloading an ISO file and burning it to a DVD is pretty damned easy. Easier than anonymity. Those who refuse to learn are at risk.
It's arguable which software you should use, but I recommend connecting to the TOR network using TAILS, a live DVD or live USB that aims at preserving your privacy and anonymity. TAILS helps you to use the Internet anonymously, leave no trace on the computer you're using, and to use state-of-the-art cryptographic tools to encrypt your files, email and instant messaging.
ProTip: For an extra layer of protection, download the ISO from your local library's computer. Or while you're sipping a mocha at Starbuck's. Then burn it to a DVD and take it home. Place it in your crap computer (the one without a hard-drive) and turn it on. Enter the BIOS menu and boot from CD if your computer doesn't do it automatically.
DO NOT CONNECT TO THE NETWORK FROM YOUR HOME.
I repeat, for an extra layer of security, DO NOT CONNECT TO YOUR HOME WIFI USING TAILS IF YOU WANT TO DO SHADY THINGS. That's just common sense. TAILS itself isn't illegal. But if you're the type to do shady things, you don't want to practice on your home Wifi, which you probably pay for with a bank account or credit card.
After you've spent a day or two using TAILS and familiarizing yourself with the LinuxOS, and once you feel comfortable enough to continue, then head back to your local Starbucks, boot up the LiveCD, and connect. Browse the TOR network and triple-check that you are protected. You can do this by checking your IP address for DNS LEAKS. Only if you feel comfortably hidden from prying eyes will you want to continue.
STEP THREE: Creating an Anonymous Wallet
There are several different ways to to this, but the easiest way is to use the code at bitadress.org. Thanks to SpenserHanson for creating this thread which describes the process in detail:
  1. Save bitaddress.org.html to your computer
  2. Close browser.
  3. Disable computer Wi-Fi.
  4. Open bitaddress.org.html in browser.
  5. Generate an address and record the private keys.
  6. Close the browser window.
  7. Go home. Think about what you are about to do.
STEP FOUR: Funding the Anonymous Wallet
Funding your wallet will be the most difficult part of this process. Obviously you don't want to go to a site like Coinbase or Mt. Gox and link up you bank account, then start sending coins to your anonymous address. That would be stupid. Very stupid.
Probably the best way to get coins is to know someone who is willing to send you a few, but even then you lead a trail back to your friend.
My suggestion is to make cash deposits through ZipZap or Bitinstant, and give them false information (for example, use the new email you created, over the TOR network, from a site like Hotmail or Yahoo, which doesn't require a phone number to sign up – I'm looking at you Gmail. Make sure your new account forwards your email to yet another account, perhaps Tormail or a temp address. You probably won't need to use the email more than once anyway, for confirmation, if you need it. And you might want to create a new address with every deposit, just to be safe). There are other options of course. Some companies will sell you Bitcoins anonymously through Bank of America cash deposits. But remember that the moment you walk into a Big Bank and give them money, you are caught on camera. Maybe offer a homeless man some money to make the deposit for you. And hope he doesn't just pocket your money. Regardless, you want to stay away from Big Banks if you can. It really isn't that hard.
If you absolutely must make deposits from your bank account, you could send your coins to an anonymous online wallet first and then to cold storage, but make sure to use several mixing services over a period of several days. And then have trouble sleeping at night.
Another great idea is to use the localbitcoins website; meet with a seller locally; pay cash and GTFO.
STEP FOUR: Spending from the Anonymous Wallet
If you are looking to CASH OUT, there aren't many anonymous options besides meeting with somebody and selling face to face. You could always sign up for your own account at localbitcoins, then hope a buyer contacts you. But this guide isn't about making money, it's about spending your coins.
To buy things, you'll want to go to back to the library, connect through TAILS, download a lite client like Electrum and access your account. Every time you want to spend, you will have to re-download, but it should not take more than a few minutes. And though you are probably safe enough to spend directly from the client, if you really want to be safe you should send the funds to a second wallet though a mixing service, then to a third or fourth or fifth wallet, also through mixing services. These “Mixing Wallets” should NOT be created using the TOR network because the TOR exit node may be monitored. I've never had a problem myself, but it's theoretically possible that an attacker could record the password/private keys for the hosted wallet and steal your coins. Which is why you should NEVER USE THE SAME ACCOUNT TWICE. And never access your cold storage wallet through the net. That would be very very bad.
To created the mixing wallets you will also need a way to hide your identify without using TOR. The best way to do this is to sign up for a VPN service though a public WiFi hotspot and then pay in Bitcoin. The best service I have found is called Private Internet Access. You can access their service through a public computer, connect to the VPN, and voila, you now can safely create mixing wallets without exposing your password to the open network. Make sure that after you mix the coins you send them all to a safe, final address, which will be your Spending Wallet.
Remaining anonymous will cost your some time and money. With each transaction you're going to have to pay for mixing, and also the transaction fee. And setting up a new email and a new account with every transaction (so that you can spread the coins across multiple fake accounts) will be bothersome but worth it in the long run. You can't put a price on piece of mind when it comes to your safety.
REMEMBER Your Spending Wallet should not contain all of your funds. The bulk of your coins should be address you created using bitaddress. Never trust an online service to hold the bulk of your funds. The recent hacks have shown that the best place to store your private key is in your head.
Final Notes:
The Bitcoin protocol itself is not anonymous. And theoretically it's possible to trace every transaction back to you. This is why you need to use fake emails, many multiple addresses, and a VPN service with heavy encryption. Even with the knowledge and the technology to map the blockchain, the FEDS will have a hell of a time tracking multiple address though VPN tunneling back to a cold storage wallet that you created offline and only use to send coins over TOR. There are just too many roadblocks. Of course nothing is impossible. But I sleep very good at night knowing that my door is not going to be kicked in by the Men in Black. And even if you're not doing anything illegal, this sort of behavior is certainly suspicious.
If you were lucky enough to receive a tip from Reddit's own bitcoinbillionaire (I myself was not) and you haven't cashed out. Create a VPN-tunneled throwaway account and tip yourself before claiming your coins. Then send them through a mixing service and to your cold storage address. Now you're on your way to being an anonymous spender.
I hope this guide helps. I really do. The purpose of Bitcoin isn't to make money. It's to protect the money that you already have, and to protect your identity in places where your identity is compromised. Everybody in the world wants your money, especially the richest of the rich. You ought to do everything you can to keep yourself safe. Especially if you live in a compromised geography.
TL;DR: Go directly to jail. Do not pass Go. Do not collect $200.
EDIT: Some typos.
submitted by anon_spender to Bitcoin [link] [comments]

Winklevoss Brothers Sue Charlie Shrem Over $32 Million in Bitcoin

Winklevoss Brothers Sue Charlie Shrem Over $32 Million in Bitcoin

https://preview.redd.it/sjd0mdv7jyv11.jpg?width=960&format=pjpg&auto=webp&s=499f5701ede557c7a5d1d81486e76d90f478c22c
Cameron and Tyler Winklevoss are reportedly suing early bitcoin investor and entrepreneur Charlie Shrem over thousands of bitcoin they allege he owes them from a previous business deal.
According to a report from The New York Times on Thursday, Shrem – who previously spent a year in prison for money laundering and operating an unlicensed money-transmitting business related to the BitInstant exchange that he founded – had helped the Winklevoss brothers invest in bitcoin back in 2012.
Acting as their first crypto adviser, Shrem had accepted $750,000 to buy bitcoin on their behalf, according to the NYT citing a lawsuit launched by the twins in September and unveiled today. Later, in September 2012, they gave him $250,000 for the same purpose, the lawsuit alleges, but later realized that Shrem had not given them the full value of the amount in bitcoin.
They now claiming to be short by roughly 5,000 bitcoin, worth almost $32 million at today's prices. At the time of the deal in 2012, one bitcoin was worth approximately $12.50.
The Winklevoss brothers claim they appealed to Shrem for the cryptocurrency they say they were due, but that it was not forthcoming. Specifically, the lawsuit claims that extravagant purchases Shrem has made since leaving jail two years ago – despite having previously said he had almost no money at the time of serving the sentence – including two Maserati sports cars, two powerboats and a $2 million property in Florida, are likely being funded by the alleged misappropriated cryptocurrency.
"Either Shrem has been incredibly lucky and successful since leaving prison, or – more likely – he 'acquired' his six properties, two Maseratis, two powerboats and other holdings with the appreciated value of the 5,000 Bitcoin he stole ..." the lawsuit states, according to the NYT.
Shrem has now had some assets frozen by the judge presiding in his previous trial, according to the court documents.
In a statement reported in the NYT, Shrem's lawyer, Brian Klein, said:
"The lawsuit erroneously alleges that about six years ago Charlie essentially misappropriated thousands of Bitcoins. Nothing could be further from the truth. Charlie plans to vigorously defend himself and quickly clear his name." Shrem started his ordered two year prison term in March 2015, though ultimately only served one year.
submitted by iTradeBit to u/iTradeBit [link] [comments]

Vault of Satoshi Ceasing U.S. Operations Due to “Increasingly Hostile” Regulatory Environment

It is with great regret to inform you that we will be ceasing our US operations effective today. If you reside outside the United States this does not affect you.
We’ve made this decision not because of any specific legal challenge or threat, but because we feel the regulatory environment in the US is becoming increasingly hostile toward Bitcoin, and more specifically toward exchanges trading in digital currencies. We’re heeding the warnings of Bitcoin Foundation and BitInstant founder, Charlie Shrem, who recently conducted a troubling interview with “Let’s Talk Bitcoin.” If you want to hear more about the situation exchanges face operating in the US, we recommend you listen to episode 87 of “Let’s Talk Bitcoin” here[1] .
We’ve made repeated attempts to comply with FinCEN regulations, but their online form submission process will not allow us to post reports from our headquarters in Ontario, Canada. They refuse to accept printed paper reports, and their drop-downs don’t include Canadian options, making it impossible to the file the required documentation properly in order to comply. Despite repeated inquiries into how to properly file reports from Canada, we have yet to receive a satisfactory response. They’ve literally made it impossible for us to run our business in compliance with their regulations.
We make this decision with a heavy heart, and will be revisiting it as we continue to monitor the regulatory and legal position of the US government (and all of its individual States) towards digital currency exchanges. Each State has their own requirements for how to handle a business like ours, and the setup and compliance costs are astronomical. We’d like to get back into the US digital currency exchange market as soon as possible, but cannot do so until the regulatory situation is clarified and settles down. We will be exploring re-launching on a state-by-state basis, but we do not yet have a timeline in place.
If you are a US-based customer, unfortunately your account will soon be demoted to level 1, and you will be limited to coin-to-coin trading, which will be launching within the coming weeks. Any dollars currently in your account will be refunded to you via check, which you should receive within 2-3 weeks’ time. Please make sure your address is correct.
If you’re a US-based customer and have recently submitted documents for verification, unfortunately, we will not be able to verify your account at this time.
To all of the amazing American users who have helped us build Vault of Satoshi into what it is today: we value you tremendously and we hope that we have not lost your trust and support. We deeply regret that we can no longer service your cryptocurrency exchange needs, and we’ll do everything we can to re-gain your business and re-launch in your country in the near future, stronger than ever before.
To Canadian and International users, we’ve got exciting plans ahead and are continuing our to expand and cement our position in this industry. Stay tuned for more amazing innovations from our team here in Canada. Thank you once again for your incredible and humbling support.
The announcement came on their Facebook page, /vaultofsatoshi.
According to them, the US made up 15% of their business. Vault of Satoshi is a Canadian-based Exchange.
http://newsbtc.com/2014/03/06/vault-satoshi-ceasing-u-s-operations-due-increasingly-hostile-regulatory-environment/
submitted by IamAlso_u_grahvity to BitcoinMarkets [link] [comments]

‘New Crypto Investors Should Ignore Volatility, Hold for Five Years’: Charlie Shrem

Bitcoin advocate Charlie Shrem has said that new crypto investors should not be spooked by the volatility of the asset class, but should rather select a token near the top end of the market and adopt a long term investment position.
“Learn and Have Fun With It”
Speaking to Yahoo Finance at the MoneyShow Conference in San Francisco on Thursday August 23, Shrem advised against excessive exposure to crypto assets on the part of new investors.
Acknowledging the unpredictable nature of cryptocurrencies, he said: “You’re putting your wealth in these things, and they break. Things happen. The values go down 90%, then the values go up 100%. I always tell people if they want to get into crypto, ‘How much money, if you lost it right now, would you be OK with?’ ‘$500,’ they tell me. So invest $500 in a basket of crypto, and then just have fun with it. Just enjoy it, learn. There’s a lot of good ones: bitcoin, Ethereum, Dash, Litecoin. Just learn what makes them different.”
Shrem also advises investors to buy crypto with the aim of holding for five years, after which they will have a heightened probability of getting a return. This he says, is because bull and bear markets usually occur in two-year cycles.
In July 2016, CCN reported that Shrem was freed from prison following his 2014 conviction for conspiring to sell bitcoin to users of the illegal marketplace Silk Road. At the time of his arrest and indictment, Shrem was the founder of BitInstant, a crypto exchange that once processed as much as 30 percent of all bitcoin in circulation.
Since his release, Shrem has co-founded Crypto.IQ, a crypto education startup that offers resources, insights, daily newsletters, marketplace access and text alerts to crypto traders. He acknowledges that the crypto scene has changed dramatically since BitInstant became defunct, but he does not see the proliferation of cryptocurrencies as a bad thing, or a threat to bitcoin.
https://www.ccn.com/new-crypto-investors-should-ignore-volatility-hold-for-five-years-charlie-shrem/
submitted by SBCon to u/SBCon [link] [comments]

Why would an average person actually choose to use Bitcoin?

(Cross post from https://bitcointalk.org/index.php?topic=131154.0) That is a question that I come across quite often. For example,
From: Cardiovorax
I understand all the ideological reasons for why someone might want to choose Bitcoin. Most of them are fairly crazy, but at least they're there. What I don't get are the practical benefits, why an average person would actually choose to use them. If you aren't worried about the government or the banks or planning to get rich quickly 2140, then what can Bitcoin actually do for you? That's the part that nobody has really managed to explain so far in any of the threads, at least as far as I can remember.
To be fair, we understand the currency, it's inner workings, and thus its potential quite well, but while we profess how great it is, with $'s and stars in our eyes, we likely forget that the people we are talking to don't know or understand everything that we do. So, I think we should come up with some examples that answer the question of "why would an average person care" (or re-paste them from older necro threads). Here are some of mine:
1) It lets you send money overseas cheaper than using a bank wire (FIAT > BTC > BTC > FIAT has way better fees and exchange rates than bank wire, Western Union, etc).
2) It lets anyone open a virtual bank account without needing access to a physical bank. For example, some banks charge fees and require minimum balances for accounts, which may be prohibitively expensive. Some areas around the world don't even have banks other than in far away big cities. And in some cases, it's easier to just create a new Bitcoin wallet to store money in, than it is to drive down to a bank, fill out forms, come up with profs of ID, wait days for them to be verified, and another week for your account to actually be ready to use (especially if you're looking for a small business account).
3) It lets you accept payments online easily and way cheaper than with VISA, PayPal, or other such services. Heck, you can even just get a bitcoin address from MtGox or any other exchange, set up your account to instantly exchange any received BTC for local currency, and you're done.
4) It lets you accept payments over e-mail or any other service that can transmit text (even photos, as seen on girlsgonebitcoin). Some sellers may not have the means to build a website, but can still send out an invoice, asking to send payments to a specific address. (i.e. someone living in a poor country who only has access to an internet cafe, or someone who just doesn't have web skills).
5) It lets you accept tips or donations using any website. You can upload videos to YouTube, photos to Flickr, posts to a blog, music to Soundcloud, art to Deviantart, or comic strips to GoComics, and to accept donations all you need is to include a string of text in the description. No need to set up any money-accepting plugins, set up any bank or financial accounts, or rely on features provided by the service being used.
6) It lets you send money to places where PalPal or other money transmitting services are blocked, for example Russia or India, and is much cheaper for sending money to family in other countries. Even if that country they can't send money to is US, as in the example of the parents in Iran sending $2,000 to their college student son living here.
7) It lets you send huge sums of money overseas quickly and cheaply. If you were in US and you needed to pay $1,000,000 for a shipment from China, using normal methods of wiring money would take two or more weeks, and will cost more than $25,000 for the transaction. With Bitcoin, it takes a few hours, and costs $12,000 or less.
8) It lets you send micropayments better than anything else out there. It's easy and practically free to send $0.01 to anyone else using BTC, but would cost about $0.25 for just the fee to use the USD/EUR system. Any micropayment system that uses USD/EUR would have to sit on top of a larger system that stores all the money in a single large account, and all micropayments would have to be done as accounting entries within that account, instead of money actually moving around (i.e. you have to fund the system with a large payment, do your micropayment transactions, and withdraw when your fund is big enough again). This means micropayments using USD/EUR are restricted to only within specific services (i.e. your pre-paid micropayments fund that you use to pay for news articles can only be used within that news website)
9) It lets you create programs and services with their own bank accounts (the software stores value, as opposed to value always being linked to a real world person and a real world outside-the-service bank account). The Reddit tipbot is an excellent example of this, and would be impossible with USD/EUR, since to build it using FIAT, someone would have to open a real world bank account under their name (with all the forms, proofs of ID, etc), set it up to accept money transfers from others using PayPal, VISA, or something else, which will charge fees, have nasty exchange rates, have to keep to strict AML regulations, and be restricted to certain specific countries. Plus it would have all the micropayment issues mentioned above. With Bitcoin, all the "banking" is done with software, requiring no permissions, and no single programmer's name has to be linked with any bank accounts.
10) It lets you instantly fund USD/EUR based accounts around the world. The small LLC I started up keeps a BTC cash account for minor business expenses, and my business partners around the world will have Bitcoin funded VISA debit cards (as soon as Bitinstant releases them). That way, all the money is stored safely in the business vault, and if they need to pay for any business expenses, no matter where they are on the planet, or what their home currency is, I can fund their cards from home within 10 minutes. That's impossible with ACH, wires, or whatever else is out there.
11) It lets you link a payment account to a contract using address signing. For example, Person A agrees to buy Person B's debt. They write up an agreement contract, and instead of signing it with PGP keys, they sign it with A's and B's bitcoin addresses. Then money is sent from Address A to Address B, and any repayments are sent from Address B to Address A. That way, Person B can't claim that they never received the money, and Person A can't claim that they are still owed more than they really are, since all transactions are publicly verifiable on the block chain using the very addresses that were used to sign the contract. There is no need for any legal disputes of who owes what, since the blockchain keeps both parties honest (I actually did this already).
If you can think of anything else, please add it to the list.
EDIT: 12) Usenet has recently gone through the Wikileaks experience, with copyright behemoths pressuring VISA, PayPal, et all, to stop processing payments for Usenet service providers. Many have switched to Bitcoin since then, and I personally know Usener user who followed, now buying his btc from me for that purpose.
submitted by Rassah to Bitcoin [link] [comments]

Bitcoin Hack Private key on PC 2020 The Future of Bitcoin: Price, Value, Mining, Exchange ... The Bitcoin Store of Value Myth Bitcoin Price 1/10/2018 - $14,001 Down 5.02% - YouTube How To Mine 1 Bitcoin in 10 Minutes - Blockchain BTC Miner ...

By comparing a local Bitcoin exchange's prices to a Bitcoin price index then it; That is out by almost 100% of his original value. A bank valuation also protects the bank from risks. BitInstant - This is an over the counter method of funding your account. Bitcoin price historically dropped to ~ $14,000, but later that day it reaches $16,250 15 December 2017 $17,900 Bitcoin price reached $17,900 22 December 2017 $13,800 Bitcoin price loses one third of its value in 24 hours, dropping below $14,000. 5 February 2018 $6,200 Bitcoin's price drops 50 percent in 16 days, falling below $7,000. Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. Each Bitcoin exchange has different buying limits, which often varies depending on level of identity verification. At Coinbase, for example, regular users may only purchase up to $1,000 worth of bitcoins per day. Fully verified users, however, can buy up to $50,000 per day. Most exchanges offer a FAQ page online where the different levels of verification are explained. Fees. Each Bitcoin ... Unser strategischer Berater und Visionär, Charlie Shrem, ist ein amerikanischer Unternehmer und Bitcoin-Befürworter. Im Jahr 2011 war er Mitbegründer des heute nicht mehr existierenden Startup-Unternehmens BitInstant und ist Gründungsmitglied der Bitcoin Foundation, wo er zuvor als stellvertretender Vorsitzender tätig war.

[index] [43350] [30119] [33015] [45774] [45410] [9669] [27201] [42187] [28488] [22676]

Bitcoin Hack Private key on PC 2020

3. Transferring 23.23 USD from MtGox to BTC-e via Bitinstant (1.49% fee). 4. Receiving 22.89 USD on BTC-e Bitcoin exchange. 5. Buying new Bitcoins for a price of 11.40 USD/BTC getting 2.0037 BTC ... In 2013 some mainstream websites began accepting bitcoins. WordPress had started in November 2012, followed by OKCupid in April 2013, Atomic Mall in November... Here in this video the FundStrat Global Advisors uses a different method to come up with his long-term price target for Bitcoin. According to Mr. Lee it is conservative to estimate that bitcoin ... A year ago I offered a $10,000 bet that over the next two years, Bitcoins would outperform Gold, Silver, the US Stock Market, and the US Dollar by more than one hundred times. Today marks the half ... Here's The Top Altcoins That Can Make You Rich In 2018 https://tinyurl.com/y7ezmnor cryptocurrency,bitcoin,bitcoin price,bittrex,coinmarketcap,litecoin,block...

#