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On Free Speech
freedom of speech is not just a law in some countries. It’s also a social principle. And the underlying goal of the social principle is the same as the underlying goal of the law: to foster an environment where the ideas that win are ideas that are good, rather than just ideas that happen to be favored by people in a position of power. And governmental power is not the only kind of power that we need to protect from; there is also a corporation’s power to fire someone, an internet forum moderator’s power to delete almost every post in a discussion thread, and many other kinds of power hard and soft.

I support safe spaces because I support freedom of association. Safe spaces, if designed in a principled way, are just an application of that freedom… But not everyone imagines “safe spaces” like that. Some use the concept of “safe spaces” as a sword, wielded to annex public spaces and demand that people within those spaces conform to their private norms. That’s not freedom of association

Every conference “censors” almost every viewpoint because there’s not enough space to give them all a chance to speak, and this is inherent to the format; so raising an objection to a conference’s judgement in making its selections is absolutely a legitimate act.

Many #DelistBSV participants like Kraken are definitely not “anything-goes” platforms; they already make many editorial decisions about which currencies they accept and refuse. Kraken only accepts about a dozen currencies, so they are passively “censoring” almost everyone. Shapeshift supports more currencies but it does not support SPANK, or even KNC. So in these two cases, delisting BSV is more like reallocation of a scarce resource (attention/legitimacy) than it is censorship. Binance is a bit different; it does accept a very large array of cryptocurrencies, adopting a philosophy much closer to anything-goes, and it does have a unique position as market leader with a lot of liquidity.

in “anarchic” environments with large disagreements on what the norms are, “an eye for an eye” in-kind retaliation is one of the better social norms to have because it ensures that people only face punishments that they in some sense have through their own actions demonstrated they believe are legitimate

So to conclude: censorship in public spaces bad, even if the public spaces are non-governmental; censorship in genuinely private spaces (especially spaces that are not “defaults” for a broader community) can be okay; ostracizing projects with the goal and effect of denying access to them, bad; ostracizing projects with the goal and effect of denying them scarce legitimacy can be okay.

http://web.archive.org/save/https://vitalik.ca/general/2019/04/16/free_speech.html
freedom  speech  association  safe  public  space  censorship  Reddit  Bitcoin  Craig  Wright  conference  #DelistBSV 
may 2019 by dandv
BTCPay Server (@BtcpayServer)
Open source payment processor for cryptocurrency
accept  crypto  donation  Bitcoin 
april 2019 by dandv
Chain Query: Bitcoin API: getrawtransaction
web based interface to the Bitcoin API JSON-RPC
Bitcoin  API  online 
march 2019 by dandv
The Bitcoin hash rate for the past year, and the squeeze that crypto miners find themselves in | Attack of the 50 Foot Blockchain
Around now, it’s getting to … around $4000 to mine a bitcoin.

At 0000 UTC on 27 November, the price of a bitcoin on Coinbase was $3718.96.

Or if you’re paying more for electricity. US crypto miner Giga Watt is bankrupt — estimated assets less than $50,000, estimated liabilities in the range of $10–50 million. Local coverage: https://www.seattletimes.com/business/washington-bitcoin-pioneer-seeks-chapter-11-protection/
cost  energy  against  Bitcoin  mining 
january 2019 by dandv
Bitcoin By the Numbers: 2018 Recap – Jameson Lopp – Medium
* Increased academic interest
* Funding hit all-time highs
* Fees plummeted 99.5% (thanks to SegWit, tx batching, lower demand etc.)
* Increased use of the blockchain for immutability and tamper evidence (Omni, side chaining, pegging mechanisms)
* Lightning Network increase (0 to 500 BTC capacity)
* Reachable Bitcoin nodes decreased 19%
* Block propagation speed improved by 50%
* Hashrate doubled
* Annual storage growth rate 25%
* Avg tx value declined from $100k to $10k
* ~$410B transacted ($13k/second)
* M1 fell from 19th to 49th, after Hungary
* Trading volume dropped, except in some countries (Venezuela, Peru, CO, IN)
* BTC ATMs doubled, to 4000

Conclusion: "Most people are only familiar with the exchange rate of Bitcoin, if that. But exchange rate is just one of many metrics we can use to observe the evolution of this ecosystem. While any given metric can be gamed or may be taken from sources that aren’t 100% reliable, by using a diversity of metrics and sources we can get a better rough idea of what’s going on.

Yes, Bitcoin fared poorly in terms of exchange rate in 2018. But by almost any other metric the system is improving and growing. Those of us who are dedicated to this system shall continue to BUIDL and add value; we have no control over the market but I expect that it will catch up to us sooner or later."
Bitcoin  2018  year  review  statistics 
january 2019 by dandv
What are the best legal ways for a U.S. startup to accept investments directly in Bitcoin? - Quora
Apparently we were the first to document how to raise investments directly in Bitcoin, back in 2013 before anyone had heard of ICOs
Dascalescu  Blueseed  Bitcoin  investment 
august 2018 by dandv
Reflections Upon a SWATting – Jameson Lopp – Medium
"When you think about it, the asymmetry is disturbing — a single anonymous phone call can result in lethal force being deployed in a matter of minutes against an arbitrary target. A single anonymous phone call costs only a few dollars to make and yet can consume tens if not hundreds of thousands of dollars in public resources just to determine whether or not a threat is real."
opsec  story  Bitcoin  crypto  attack  police  SWAT  USA 
july 2018 by dandv
Secretive Chinese bitcoin mining company may have made as much money as Nvidia last year
[[Based on conservative estimates of gross margin of 75 percent and operating margin of 65 percent, the analysts calculate that Bitmain made $3 billion to $4 billion in operating profit in 2017. Bernstein's U.S. semiconductor team estimates Nvidia's operation profit was $3 billion during the same period.

"But Bitmain achieved this in merely four years, while it took Nvidia 24 years to get here," the Bernstein analysts said.]]
Bitcoin  mining  profit 
february 2018 by dandv
What you may not understand about crypto’s millionaires | VentureBeat
The Satoshi Roundtable

These weren’t opportunistic, get-rich-quick newcomers fresh off of big ICOs; they were long-time believers in blockchain technology’s ability to solve important human problems.

This was a conference of people committed to economic freedom, privacy, individual empowerment — people who would pursue their projects if the price of Bitcoin was $1 or $1,000,000.

Three years ago, the movement had energy and passion. Now it has energy, passion, and money. A whole lot of money. And that means these passionate believers can drive their goals faster and further then ever before.

“Now you can poach talent from anyone in the world. Anyone.” The goal? Accelerate the revolution towards something new from within the existing infrastructure and leverage the world’s best talent to do it.

If the existing financial institutions are the Roman Empire, the crypto-entrepreneurs are the tribes on the periphery. For a while, they did not have their act together, but they are beginning to organize. Soon, they will have world-class marketing, Apple-level user experiences, and security that makes Equifax-level abuses impossible. And with the aid of all of this money, they have penetrated the outer defenses of the existing financial world order.

To mix metaphors, the dominoes have started to fall.

We are witnessing the migration of power and influence from systems based on trust in people to systems based on trust in math. The Satoshi Roundtable motto reads, “No leaders. No rulers. In code we trust.”
crypto  inspiration  Bitcoin  millionaires  power  future  together  change  world 
february 2018 by dandv
Long Island Iced Tea Soars After Changing Its Name to Long Blockchain - Bloomberg
[[The shares surged to as high as $9.49 before closing at $6.91 in New York trading, compared with $2.44 Wednesday. More 15 million shares changed hands, compared with average daily volume of about 170,00 shares over the prior three months.

Long Island Iced Tea Corp. shares rose as much as 289 percent after the unprofitable Hicksville, New York-based company rebranded itself Long Blockchain Corp. It’s the latest in a near-daily phenomenon sweeping the stock market, where obscure microcap companies reorient to focus on some aspect of the mania sparked by bitcoin’s 1,500 percent rally this year.

Long Blockchain, whose business has been selling non-alcoholic beverages, says it will now seek to partner with or invest in companies that develop the decentralized ledgers known as blockchain, the technology that underpins bitcoin.

The re-named firm joins the ranks of recently christened crypto companies -- a list that includes former makers of juice, sports bras and sofas -- whose share prices have all rocketed after their respective announcements. Some are likening the mania to the dot-com boom, and ultimate bust, two decades ago.]]
stupid  Bitcoin  bubble  mania  buzz  rebranding 
january 2018 by dandv
Searching for Bitcoins in GitHub repositories with Google BigQuery - YouTube
Fun with coding - hacking together a Google BigQuery to look for Bitcoin private keys accidentally uploaded to GitHub repos, then running the addresses to see how much money they have.

Turns out nothing of value was found, and the processing of that amount of data cost more than the tiny amounts he found.
Google  BigQuery  Bitcoin  leak  hack  fun  video 
december 2017 by dandv
Massive Bitcoin ownership research
Unrevealed Bitcoin billionaires. Look for "The list of most active entities in Bitcoin, which have either maximal incoming BTC’s". There are at least 20 non-identified entities with over 300,000 BTC as of 2012.

"hundreds of transactions which move more than 50,000 bitcoins. We analyzed all these large transactions by following in detail the way these sums were accumulated and the way they were dispersed, and realized that almost all these large transactions were descendants of a single transaction which was carried out in November 2010. Finally, we noted that the subgraph which contains these large transactions along with their neighborhood has many strange looking structures which could be an attempt to conceal the existence and relationship between these transactions, but such an attempt can be foiled by following the money trail in a sufficiently persistent way."
Bitcoin  whales  study 
december 2017 by dandv
What Will Bitcoin Look Like in Twenty Years? – Hacker Noon
People suck at predicting the future because
* they spend very little time thinking about it
* it's counter-intuitive
* it challenges their position of power
* they mistake their opinions for reality
* they lack patience (velcro took 25 years from idea to profit)

"It’s nearly impossible to know what form those solutions will take, but we can figure out what traits the solution will have so we can recognize it when it gets here.

Solutions start by pointing out what’s wrong, asking the right questions about how to fix it and correctly defining what properties we would need to have a better experience.

in ten or twenty years expect very strong government cryptocurrencies to come to power and dominate the flow of money for many, if not most, people around the world.

The average person has zero understanding of just about anything that actually matters and they absolutely don’t see a need for privacy and security until it’s physically ripped away from them under extreme circumstances like a war. When soldiers invade your house and take everything you own suddenly the need for privacy becomes very real to people. People will adopt government cryptos like good little sheep without a second thought.

instead of distributing power, governments will look to concentrate even more power, by giving themselves the ability to track every single citizen’s spending with impunity and automatically collect taxes from wages and sales of goods and services. That’s why authoritarian governments are racing to build official state cryptos. They can’t wait to have panopticon money in your pocket as soon as possible."

Governments will outlaw physical cash under the guise of stopping money laundering/terrorism/crime and "if you trot out any or all of the above reasons you can easily get half the population to do whatever you want and even better they’ll believe it with all their hearts".

Decentralized cryptos will survive because the world's government won't be able to agree on a centralized crypto.

"to remain relevant, decentralized cryptos need to move fast. They need a killer app. Right now they’re vulnerable to attack. To really take root they need that killer app to spread virally across the globe. It’s got to be something so indispensable that people can’t imagine their lives without it. "

Only 4 types of coins:
* Deflationary Saver Coin
* Inflationary Spender Coin
* Action Token
* Reward Token

"As artificial intelligence tracks statistics in real time around the globe we’ll be able to see the real effects of a steel tariff enacted in one country as prices shoot up for building in another country dependent on that steel. We’ll track global production and manufacturing with unbelievable precision and what we learn will very much surprise us in so many wonderful ways."

"People from the World War II generation had one or two jobs their whole life.
Today we have five or six.

Tomorrow’s people will have five or six at the same time.
Half of those income streams will be automated and passive, likely some kind of crypto UBI. We will also see the rise of AI job matching services. The machines will know your capabilities and skill sets and match short term gigs to you so you don’t even have to look for a job.
Imagine a software project that requires an insane amount of code, something like ten trillion lines. Software projects are only getting more complicated and will continue to grow. AI’s will write and test half of it but people will write the other half."

"Bitcoin has first mover advantage. It’s the absolute first of its kind and still dominates the global market share but it also suffers from a number of major flaws that could kill it.

Basically, it’s the Model T of the blockchain revolution.
How many Model T’s do you see on the street today?"
future  crypto  Bitcoin  speculation  fiction 
november 2017 by dandv
US Government Files Stern Response to Ongoing IRS-Coinbase Case – The Merkle
"The US government admits targeting Coinbase because of its popularity and growth. One IRS senior revenue agent claims the company was offering buy and sell trading functionality in dozens of countries, maintaining nearly 5 million wallets and offering wallet services in 190 countries. All of this information was taken from the website of Coinbase, which has always been rather transparent about the growth of the business. It appears this public information caused the IRS’s decision to investigate the company and its customers."
Coinbase  Bitcoin  taxes  IRS 
september 2017 by dandv
bitcoinbook/bitcoinbook: Mastering Bitcoin 2nd Edition - Programming the Open Blockchain
Mastering Bitcoin is a book for developers, but the first two chapters cover bitcoin at a level that is approachable to non-programmers. Anyone with a basic understanding of technology can read the first two chapters and get a great understanding of bitcoin.
book  reference  bitcoin 
august 2017 by dandv
How Bitcoin helped fuel an explosion in ransomware attacks | ZDNet
"Ultimately, it could be said that the internet itself has been a huge gift for criminals, who are now using it not only for ransomware, but also malware, Trojans, hacking, and all manner of illegal activities on the dark web. In that case, Bitcoin is just the latest in a long line of technologies that have brought benefits to the wider world while unfortunately boosting the criminal underground."
against  Bitcoin  bashing  fraud 
april 2017 by dandv
Bitcoin service ordered to hand over three years of user records to IRS - The Verge
[[The order has also drawn significant criticism from many in the Bitcoin community. “Americans would be shocked if the IRS asked a financial institution in good regulatory standing to turn over the names, addresses and shopping histories of millions of customers just because the IRS thought there might be some tax cheats among them”]]
IRS  Bitcoin  tax  fraud  allegation  Coinbase  records  privacy 
december 2016 by dandv
The IRS Believes All Bitcoin Users are Tax Cheats | Cato @ Liberty
IRS wants from Coinbase:

"All records of account/wallet/vault activity including transaction logs or other records identifying the date, amount, and type of transaction (purchase/sale/exchange), the post transaction balance, the names or other identifiers of counterparties to the transaction; requests or instructions to send or receive bitcoin; and, where counterparties transact through their own Coinbase accounts/wallets/vaults, all available information identifying the users of such accounts and their contact information."

This based on one dickhead suspected of tax evasion: "Equally shocking is the weak foundation for making this demand. In a declaration submitted to the court, an IRS agent recounts having learned of tax evasion on the part of one Bitcoin user and two companies. On this basis, he and the IRS claim “a reasonable basis for believing” that all U.S. Coinbase users “may fail or may have failed to comply” with the internal revenue laws."

Court declaration: http://www.plainsite.org/dockets/download.html?id=240290871&a=4&z=f474e618

Reddit: https://www.reddit.com/r/Bitcoin/comments/5dm4jr/irs_requesting_info_from_coinbase_on_users/
Coinbase  against  IRS  Bitcoin  privacy  USA 
november 2016 by dandv
Slur - Bitcoin marketplace for secret information
Banks on psychopaths selling secrets, and companies bidding to suppress the information: stolen databases, exploits, industrial designs etc. But what stops the seller from selling again underground after the company did pay to suppress the embarrassing information?
Bitcoin  marketplace  leaks  whistleblowing  secrets  information 
december 2014 by dandv
Accept Bitcoin donations today!
Print version. Everything is generated in the browser. No wallet necessary.
accept  Bitcoin  donation  print  offline 
december 2014 by dandv
Bitcoin and Litecoin Donation Button
No modal, no live fiat conversion, no image
Bitcoin  donate  button 
december 2014 by dandv
Coinwall.co
"zero-friction" Bitcoin paywall
Bitcoin  payment  system  paywall 
july 2014 by dandv
‘Dark Wallet’ Is About to Make Bitcoin Money Laundering Easier Than Ever | Business | WIRED
The important thing is that when someone pastes your stealth address into [blockchain search tool] blockchain.info, absolutely nothing shows up,”
Bitcoin  anonymity  anonymous  payment 
may 2014 by dandv
security - How long would it take a large computer to crack a private key? - Bitcoin Stack Exchange
If Moore's law continues, then 60 years, by which time the algorithm protecting the keys will have changed many times. Otherwise, 0.65 billion billion years.
bitcoin  security  crack  private  key  time  estimate 
november 2013 by dandv
Bitcoin's role in the future of micropayments - CoinDesk
"Small businesses in the US like to require that customers make at least a $10 transaction on a credit or debit card. That’s because some processors charge more for smaller transactions in order to make money on every purchase."
bitcoin  advantage  micropayments 
november 2013 by dandv
My bank account's got robbed by European Commission. Over 700k is lost.
"The most of circulating assets on our business Current Account are blocked.
Over 700k of expropriated money will be used to repay country's debt. Probably we will get back about 20% of this amount in 6-7 years.

I'm not Russian oligarch, but just European medium size IT business. Thousands of other companies around Cyprus have the same situation.

The business is definitely ruined, all Cypriot workers to be fired.
We are moving to small Caribbean country where authorities have more respect to people's assets. Also we are thinking about using Bitcoin to pay wages and for payments between our partners."
Bitcoin  pro  Cyprus  bank  account  frozen 
november 2013 by dandv
Bitcoin: What are the best legal ways for a U.S. startup to accept investments directly in Bitcoin? - Quora
1. Set up an account with a Bitcoin exchange like Coinbase or Tradehill. That will requires sending ID.
2. Ask the investor to send to your wallet address 10% more BTC than the USD value of their investment. This takes care of fluctuations until you convert to fiat.
3. Convert the BTC to fiat. This is slightly more involved on TradeHill vs., say, Coinbase, because you need to place orders, either public or in the dark pool.
4. Once all orders have filled, reimburse the remaining BTC to the investor.
5. Request a wire from Tradehill into your startup's bank account.
6. After the USD has been wired, mark that date as the "investment date" and produce the investor documents, e.g. the convertible note purchase agreement. No need to mention anything about BTC in the documents. The investment amount will be in USD.
Dascalescu  Bitcoin  Quora  investment  startup 
september 2013 by dandv
▶ Bitcoin 2012 London: Mike Hearn - YouTube
There's a lot more to Bitcoin than just digital cash.

Video on the advanced dormant properties of Bitcoin that can enable really cool things like smart property, escrow transactions, third-party arbitration (even automated), multi-party signature etc.
Bitcoin  video  Mike  Hearn  UK  smart  property  advanced  features  contracts 
august 2013 by dandv
Bitcoin not taxed yet by the IRS (May 2013)
From the Government Accountability Office: "IRS made a reasoned decision not to implement a compliance approach specific to virtual economies and currencies."

[[IRS has not assessed the tax compliance risks of open-flow virtual currencies developed and used outside of virtual economies. These types of currencies, generally, were introduced after IRS's last review of compliance related to virtual economy transactions. According to IRS compliance officials, IRS would learn about tax compliance issues related to virtual currencies as it would any other tax compliance issue, such as IRS examiners identifying compliance problems during examinations or taxpayers requesting guidance on how to comply with certain tax requirements. To date, these processes have not resulted in IRS identifying virtual currencies used outside of virtual economies as a compliance risk that warrants specific attention.

Likewise, IRS has not issued guidance specific to virtual currencies used outside of virtual economies due to competing priorities and resource constraints, and because the use of virtual currencies is a relatively recent development that requires further consideration before guidance can be issued, according to IRS's Office of Chief Counsel and compliance officials. ]]
Bitcoin  virtual  currency  digital  online  tax  taxation  USA  IRS  GAO 
july 2013 by dandv
Battle Over Bitcoin: China Backs US Startup Coinbase And US Falls Behind In Virtual Currencies
China's downloads of the Bitcoin client have overtaken those in the US; they're very familiar with virtual currencies like the Q coin from QQ; have mining power; and (the article doesn't mention this) China wants to dethrone the USD as the international currency and has already made direct swap deals for oil with Australia and other countries.
Bitcoin  China 
june 2013 by dandv
MITM attacks on Bitcoin are trivial
MITM is an acronym for “Man In The Middle”. This attack involves an attacker who can monitor and/or alter a conversation between two people.

A relative example of this is when you use a Bitcoin shortening service to easily relay an otherwise long, cumbersome Bitcoin address. The service controls the storage of your short URL and your Bitcoin address – therefore, it is plausible that they may replace your Bitcoin address with their own to steal your coins. This may occur subtly to avoid detection and you’re especially vulnerable if you are not expecting “tips” or payment.

In the same context, any time you transmit a Bitcoin address over a non cryptographic connection like HTTP or Email, every service provider who can see that transfer has the ability to change your Bitcoin address to theirs. Storing your Bitcoin address in a forum signature is vulnerable to being changed by anyone with sufficient privileges over that server or application.
Bitcoin  security  attack  MITM  man  in  the  middle 
june 2013 by dandv
Bitcoin and Unbreakable Law | Let A Thousand Nations Bloom
Auditing and enforcing promises made in the traditional financial system requires tremendous resources, employing hundreds of thousands of people and costing billions of dollars a year. There are middlemen that guarantee transactions against fraud, regulators that ensure that those middlemen remain solvent and comply with banking regulations, police men and lawyers that prosecute fraudsters, intelligence agents that monitor transactions for illegal purchasers, banks to keep your money safe, and many other specialties. All of that overhead is obsoleted by bitcoin because promises cannot be forged or broken.
Bitcoin  unbreakable  promise  law  against  fraud  philosophy 
june 2013 by dandv
The Genesis Block | The Time For A Stateless Global Reserve Currency Is Fast Approaching - The Genesis Block
The dollar is approaching its end as a global currency. The future will be long to an inexpensive non-political currency.
Bitcoin  global  currency 
june 2013 by dandv
How Bitcoin Can Bring Down The United States Of America - Falkvinge on Infopolicy
Prediction on the US economic dominance ending due to Bitcoin. Hinges on other nations having to exchange their currency to dollars before buying products from other economies, particularly China. Bitcoin can fulfill the role of dollars much better.
Bitcoin  prediction  Falkvinge  USA  downfall  currency  USD  against 
june 2013 by dandv
Bitcoin Doesn't Have a Deflation Problem - Forbes
Thought experiment: if some omniscient entity declared that Bitcoin will be worth $1000 5 years from now, its price would jump to ~1000 right away.

"if market participants become convinced that “the price of a bitcoin is on a steady upward trajectory”, they’re not going to hoard their Bitcoins for weeks or months waiting for the price to rise. They’ll bid the price up right away."

[NB: But they're NOT convinced, so not everyone hoards] - Tim implies but doesn't mention this

"In equilibrium everyone who thinks Bitcoin is under-valued already has all the bitcoins he or she is willing to pay for."

In short, the Efficient Market Hypothesis suggests that the price of Bitcoin is right, given the uncertainty; and it is the uncertainty that prevents hoarding.
against  Bitcoin  deflation  thought  experiment  hoarding 
june 2013 by dandv
Why isn't Bitcoin totally worthless?
About 15 reasons why Bitcoin is great.
Bitcoin  cool  why  uses 
june 2013 by dandv
Calculating The Long-Term Value Of A Bitcoin | TechCrunch
JavaScript interactive calculator for Bitcoin's value in 2017, taking as input market share as store of value, black market, and global currency.
bitcoin  value  valuation  calculator 
june 2013 by dandv
Fincen Chief Q&A: What We Expect from Digital Currency Firms - American Banker Article
FinCEN doesn't intend to go after digital currencies, their Director Jennifer Shasky Calvery says. No specific mention of Bitcoin. They didn't ask for comments before issuing the March 2013 guidance, and stand by it.

"exchange providers that comply with the law have nothing to fear from Treasury."

"just because we went after Liberty Reserve, it doesn't mean we are going after all digital currencies"
FinCEN  Bitcoin  USA  law  regulation  legal 
june 2013 by dandv
Bitcoin: What are bitcoins? - YouTube
Bitcoin animation explainer video pitching SpendBitcoins after 2:53. Theme is a dodo bird. Captions explaining the actual situation with anonymity and fees.
Bitcoin  explainer  video  animation  SpendBitcoin 
june 2013 by dandv
What is Bitcoin? - YouTube
A more detailed Bitcoin explainer video than the official one from weusecoins.com, https://www.youtube.com/watch?v=Um63OQz3bjo.

A bit slow. More technical than the SpendBitcoins ones.

Pitches Daily Reckoning after 2:50.
explain  Bitcoin  explainer  video  animation  Daily  Reckoning 
may 2013 by dandv
Bitcoin exchanges need to grow up fast - CoinDesk
Senate investigators found the bank had failed to monitor $60 trillion in transactions for money laundering and had a backlog of 17,000 dodgy account alerts which it failed to investigate. Which dwarfs LibertyReserve’s alleged laundering of $6 billion.
HSBC shipped $7 billion in actual paper dollars from Mexico back to the US during 2007 and 2008. Because of controls on big cash deposits at US banks, the money had been smuggled into Mexico so HSBC could ship it back to the US.

http://www.bloomberg.com/news/2012-12-12/hsbc-mexican-branches-said-to-be-traffickers-favorites.html

HSBC sent dollars to Saudi and Bangladeshi accounts with known links to al Qaeda - http://www.hsgac.senate.gov/subcommittees/investigations/hearings/us-vulnerabilities-to-money-laundering-drugs-and-terrorist-financing-hsbc-case-history

It also sent $19.4 billion to accounts linked to Iran … in breach of the Trading with the Enemy Act.

Most of this wasn’t even secret: regulators knew about it and were gently pushing HSBC to clean up its act. The Senate Committee criticized regulators for doing so little:
“yet during the six-year period from 2004 to 2010, OCC officials did not take any formal or informal enforcement action to compel HBUS (HSBC’s US arm) to strengthen its AML (anti-money laundering) program, essentially allowing its AML problems to fester.”
HSBC was deemed “too big to fail” so a deal was done. It paid a relatively small fine — $1.9bn — and promised, again, to improve its processes.
Bitcoin  big  bank  USA  corruption  finance  financial  crime  against  HSBC 
may 2013 by dandv
Let's Cut Through the Bitcoin Hype: A Hacker-Entrepreneur's Take | Wired Opinion | Wired.com
Balanced and well-informed Bitcoin article (not a primer, but introductory) by security researcher Dan Kaminsky.
bitcoin  opinion  Kaminsky 
may 2013 by dandv
US regulator: Bitcoin exchanges must comply with money-laundering laws | Ars Technica
Bitcoin users are fine, miners need to register if they make a business out of selling BTC for cash. Bitcoin is targeted only implicitly, and never explicitly named.
Bitcoin  FinCEN  USA  regulation  legal 
april 2013 by dandv
[ANN] Fast blockchain C++ parser w/ source code
Code at https://github.com/znort987/blockparser

In June 2012, parsed the whole blockchain in 30 seconds.

Features:
. Compute simple blockchain stats (full chain parse in < 1 second)
. Extract all known transactions for a list of addresses (full chain parse in < 70 second)
. Compute the list of addresses that provably belong to the same person
. Compute and print the balance for all keys ever used since the beginning of time
. Compute all "pristine" blocks (mined but never spent).
. Compute the "taint" from a set of source transactions into *all* transactions
. Dump the whole block chain to a MySQL database (in ~ 10mn)
. Dump all the block rewards and all mining fees found in the block chain.
. Dump one or many transactions in much detail (including complete script decompilation)
. You can quite easily add your own data extraction code
. It also supports litecoin
Bitcoin  blockchain  parser 
april 2013 by dandv
Hacked Linode & bitcoins stolen
Linode's Manager was hacked, they admitted it, but didn't mention anything about how it happened or how they'll prevent the incident from reoccurring.

"Linode knows about bitcoin because we spoke to an employee from there about witcoin months ago. They had asked us to take down a particular post about their policy of shutting down a site for content they didnt agree with. They are fully aware of it. I hate to say it but "rogue employee" comes to mind. Boycott unless they fix it." - https://bitcointalk.org/index.php?topic=66916.msg778099#msg778099

Likely what happened: inside job by Linode employee.
-- https://bitcointalk.org/index.php?topic=66916.msg779140#msg779140

6 months later, "Linode "compensated" me by providing one year of VPS server "for free". I sent them official snail mail letter asking for some compensation, I contacted them by email, no response.

I received around 30BTC on donations from many people and I'm really glad for that support. Still, I had to covered the rest of stolen 3094 BTC from my pocket..."
-- https://bitcointalk.org/index.php?topic=66916.msg1320926#msg1320926

A month later, Linode hardened the Manager against brute-force attacks:
http://blog.linode.com/2012/04/05/linode-manager-brute-force-protection/

No further information from Linode: http://forum.linode.com/viewtopic.php?f=20&t=8509&start=60. Until page 16 (May 2012), the thread is full of flaming, arguing and nonsense, with no useful insight into the Linode incident.

The hack was covered in large sources,
http://www.theregister.co.uk/2012/03/02/linode_bitcoin_heist/
http://arstechnica.com/business/2012/03/bitcoins-worth-228000-stolen-from-customers-of-hacked-webhost/
against  Linode  VPS  hacked  transparency  Bitcoin 
april 2013 by dandv
Dan Kaminsky Highlights Flaws Bitcoin - Business Insider
[[By all extant metrics in security system review, this system should have failed instantaneously, at every possible layer.

But the core technology actually works, and has continued to work, to a degree not everyone predicted. Time to enjoy being wrong. What the heck is going on here?

First of all, yes. Money changes things.

A lot of the slop that permeates most software is much less likely to be present when the developer is aware that, yes, a single misplaced character really could End The World. The reality of most software development is that the consequences of failure are simply nonexistent. Software tends not to kill people and so we accept incredibly fast innovation loops because the consequences are tolerable and the results are astonishing.

BitCoin was simply developed under a different reality.
The stakes weren’t obscured, and the problem wasn’t someone else’s.
They didn’t ignore the engineering reality, they absorbed it and innovated ridiculously.

The cost of regulating any network actually goes up exponentially with the number of nodes that must be monitored.

[...] possession of stolen property is and will forever be a criminal offense, and nothing is more provably stolen than the cryptographic taint of a transaction with money from a stolen account.]]
bitcoin  security  against  government  regulation  cool 
april 2013 by dandv
An Analysis of Anonymity in the Bitcoin System: Bitcoin is not Anonymous
Research tracking Bitcoin transactions between an alleged victim and the thief. No association with IP addresses; the point is to show that anonymity is not part of the Bitcoin design.

From one of the authors: "Tor ensures anonymity at the TCP/IP level. If you use Tor exclusively then mappings between Bitcoin addresses and IP addresses are essentially useless. However, in many cases, it is still possible to establish that two or more public-keys (identities within the Bitcoin system) are actually controlled by a single user. So, yes, even if you use several different Bitcoin public-keys and use Tor intermittently, it may be possible to link transactions performed while using Tor to transactions performed while not using Tor.

[I]n the paper we describe an ancillary network that maps multiple
public-keys to individual users. We do this using a a property of transactions with multiple inputs. Basically, if you control, say, three separate public-keys, PK_A, PK_B and PK_C, and (inadvertently?) use all three to sign a transaction in order to send Bitcoins to another public-key, you have revealed that one user controls all three. This information can be applied retrospectively -- a transaction you may perform in the future may reveal information about transactions you performed in the past."

Mirrors:
http://www.webcitation.org/6FsoxjocD
http://archive.is/7IPTk
Bitcoin  anonymity  privacy  trace  follow  transactions  security  research 
april 2013 by dandv
Bitcoinity charts
Bid, ask and latest trades for Mt. Gox, BTC-E, Bitstamp, Bitcoin-24 and Bitfloor. USD, EUR etc. where supported.

Also http://s2.bitcoinity.org/markets
Bitcoin  chart  exchange  market  data  graph 
april 2013 by dandv
All the (technical) statistics you'd want about Bitcoin
Market cap, bitcoins in circulation, # of transactions, miners revenue and operating margin etc.
bitcoin  statistics  circulation  market  cap 
march 2013 by dandv
Bitcoin rises (13 Mar 2013) - Opinion - Al Jazeera English
Excellent article on Bitcoin's state of the art as of March 2013
Bitcoin  article  2011  2013  Halving  Day 
march 2013 by dandv
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