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phillipbbg

CRYPTO CURRENCIES

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This thread is meant to be a continuous feed on events surrounding crypto ... a GENERAL everything crypto thread if that makes sense

 

I will start the thread with an amusing look at just how much misunderstanding regulators actually have and how they don't even realise they are advising to buy

 

 

US Senate, SEC, and CFTC don't understand Crypto = buy signal.

 

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Coinbase is mistakenly draining customers' bank accounts, and people are freaked

Feb. 15, 2018             Jack Morse

"All your money is gone. Whoops! Sorry for your loss. 

The world of cryptocurrency trading is notoriously risky, but it wasn't supposed to be like this. Some Coinbase account holders are losing their shit today as they look to their bank statements to find that the exchange has withdrawn excessive amounts of money from their accounts.

 Like, a lot of money. And no, there wasn't just another huge cryptocurrency crash that caught a bunch of margin traders flat footed. Instead, it seems that Coinbase has been mistakenly draining the non-cryptocurrency bank accounts of its customers.

Panicked individuals have taken over the Coinbase subreddit with stories about the exchange double and triple charging them — leaving them flat broke. 

"You drained my bank account and now I have nothing," reads one post from this morning.  

"Welp officially broke," reads another, "charged 17x1000$ on my account."

"FREAKING OUT," posts another user. "Coinbase drained my bank account. Took 5x the amount I authorized from debit. I am now broke, cannot afford rent, food, gas, bills."

snip

https://mashable.com/2018/02/15/coinbase-drains-bank-accounts/?utm_cid=a-rr-science#mwKU6L7pTqqn

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Child abuse imagery found within bitcoin's blockchain

Samuel Gibbs     March 20, 2018

"Researchers discover illegal content within the distributed ledger, making possession of it potentially unlawful in many countries

German researchers have discovered unknown persons are using bitcoin’s blockchain to store and link to child abuse imagery, potentially putting the cryptocurrency in jeopardy.

The blockchain is the open-source, distributed ledger that records every bitcoin transaction, but can also store small bits of non-financial data. This data is typically notes about the trade of bitcoin, recording what it was for or other metadata. But it can also be used to store links and files.

Researchers from the RWTH Aachen University, Germany found that around 1,600 files were currently stored in bitcoin’s blockchain. Of the files least eight were of sexual content, including one thought to be an image of child abuse and two that contain 274 links to child abuse content, 142 of which link to dark web services.

“Our analysis shows that certain content, eg, illegal pornography, can render the mere possession of a blockchain illegal,” . “Although court rulings do not yet exist, legislative texts from countries such as Germany, the UK, or the USA suggest that illegal content such as [child abuse imagery] can make the blockchain illegal to possess for all users.”

“This especially endangers the multi-billion dollar markets powering cryptocurrencies such as bitcoin.”

snip

https://www.theguardian.com/technology/2018/mar/20/child-abuse-imagery-bitcoin-blockchain-illegal-content

We'll see where this goes.

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Interesting given Australia has just snuck in Bail In legislation whilst people were distracted with other 'news'.

Reader: There Was A Major Reset Of Gold, But Nobody Is Talking About It: Lynette Zang

Posted By: RumorMail [Send E-Mail]
Date: Sunday, 25-Mar-2018 12:35:49

 

From Reader Kyle.

***************

https://youtu.be/9eF_joJWpqE

Source http://www.rumormillnews.com/cgi-bin/forum.cgi?read=96117

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These two videos were given to me by Neocharm, who is into this, so I'm going to post them for info.

REALIST NEWS - Tutorial - How to use ForkDelta to buy and sell ETH Tokens

 

 

How To Buy & Sell CRYPTOCURRENCY In 2018! (Full Investing Guide)

 

I hope they answer questions if you are interested in crypto currencies.

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Bitcoin price plunges after cryptocurrency exchange is hacked

June 11, 2018      Julia Kollewe

"There has been a sharp drop in the price of bitcoin and other virtual currencies after South Korean cryptocurrency exchange Coinrail was hacked over the weekend.

A tweet from Coinrail confirming the cyber-attack sent the price of bitcoin tumbling 10% on Sunday to two-month lows.

The world’s best-known cryptocurrency lost $500 (£372) in an hour, dropping to $6,627 on the Luxembourg exchange Bitstamp, while most other digital currencies also recorded large losses.

The latest attack highlights the lack of security and weak regulation of global cryptocurrency markets.

Coinrail later said in a statement on its website that its system was hit by “cyber intrusion” on Sunday, causing a loss for about 30% of the coins traded on the exchange. It did not quantify the value, but the local Yonhap news agency estimated that about 40bn won (£27.8m) worth of virtual coins was stolen.

Coinrail said: “Seventy percent of total coin and token reserves have been confirmed to be safely stored and moved to a cold wallet [not connected to the internet]. Two-thirds of stolen cryptocurrencies were withdrawn or frozen in partnership with related exchanges and coin companies. For the rest, we are looking into it with an investigative agency, related exchanges and coin developers.”

Police have begun an investigation, according to the Korea Herald, which cited a spokesperson as saying: “We secured the access history of Coinrail servers and we are in the process of analysing them.”

snip

https://www.theguardian.com/technology/2018/jun/11/bitcoin-price-cryptocurrency-hacked-south-korea-coincheck

 

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For people who are interested in how Crypto-currencies work, we had a talk by Herman Schoenfeld on "PascalCoin" - an open-source project... Even in the short time available to him, Herman gave a fantastic talk, and explained a lot, about Bitcoin and Etherium and their problems, and how he and others have come up with a lot of the answers...

 

As from Herman's email later....

Hi Kim & All,

The material can be downloaded here: 

Presentation @ Melbourne:
https://mega.nz/#!AJQjxJqB!Rvlse3C4LxRvdOd2Pu7c6CLSHqrJC_O4mgbnaHFYEAw <https://mega.nz/#!AJQjxJqB!Rvlse3C4LxRvdOd2Pu7c6CLSHqrJC_O4mgbnaHFYEAw>

PIP-0009: RandomHash: GPU & ASIC Resistant Hash Algorithm
https://github.com/PascalCoin/PascalCoin/blob/master/PIP/PIP-0009.md <https://github.com/PascalCoin/PascalCoin/blob/master/PIP/PIP-0009.md>

PIP-0011: 20% Developer Reward
https://github.com/PascalCoin/PascalCoin/blob/master/PIP/PIP-0011.md <https://github.com/PascalCoin/PascalCoin/blob/master/PIP/PIP-0011.md>

PIP-0015: Fast Block Propagation
https://github.com/PascalCoin/PascalCoin/blob/master/PIP/PIP-0015.md <https://github.com/PascalCoin/PascalCoin/blob/master/PIP/PIP-0015.md>

Sphere 10’s Pascal Library I walked through in presentation (VisualGrid, etc)
https://github.com/Sphere10/PascalFramework/tree/master/src/Sphere10 <https://github.com/Sphere10/PascalFramework/tree/master/src/Sphere10>

Also we are working hard to establish the PascalCoin Foundation for a July debut. At this point, we will have substantial funding to support a sustained and focused development effort in PascalCoin as well as the broader FOSS Pascal-work (via NewPascal and Lazarus bounties).

Thanks again for the privilege of speaking at your conference. 

 

There is even the source code for the project - in Lazarus (Free Pascal) and Delphi.

 

 

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