Silk Road 3.0 - Reincarnation of the Bitcoin Deep Web ...

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Welcome to "the Omni-Market!" We strive to bring you the most reliable source of news, updates, and discussion of the Darknet scene.
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Bitcoin Deep Web Marketplace Silk Road 3.0 Is Back

Bitcoin Deep Web Marketplace Silk Road 3.0 Is Back submitted by fearofhellz to Bitcoin [link] [comments]

The price of Bitcoin will skyrocket up to $100,000 in 2020

Ross Ulbricht (the founder of now-defunct anonymous marketplace Silk Road) predicted that Bitcoin’s price will reach $100,000 in 2020. To forecast the highs and lows in financial market cycles, Ulbright identified extremes in investor psychology. In terms of Bitcoin, investors’ emotions purportedly play a more significant role as opposed to traditional market.
As such, Bitcoin price could be artificially increased by investor expectations combined with mass psychology and through a positive feedback loop of buyer optimism
submitted by Just_Douglass to u/Just_Douglass [link] [comments]

Europol Threatens to Come After People Using Bitcoin on Dark Net Marketplaces Like Silk Road 3.0

Europol Threatens to Come After People Using Bitcoin on Dark Net Marketplaces Like Silk Road 3.0 submitted by nybe to Bitcoin [link] [comments]

[Honest Question] How is local.bitcoin.com not another silk road?

Except for being on clearnet, how is local.bitcoin.com, not another silk road?
https://local.bitcoin.com/faq#how-does-the-escrow-script-work
o End-to-end message encryption
o Messaging forward secrecy
o Financial forward secrecy
Maybe it doesn't (and won't) have ads and categories for illicit items, but it seems, based on reading the FAQs, that it essentially facilitates buying and selling anything you want, anonymously. (I understand that local.bitcoin.com doesn't know what you are trading either, unless they are asked to resolve a dispute).
My gut feeling after reading this is to drop my remaining BCH like a sack of spuds. Am I reading into this the wrong way?
submitted by PaidSockPuppet to bitcoincashSV [link] [comments]

Bitcoin Deep Web Marketplace Silk Road 3.0 Is Back

Bitcoin Deep Web Marketplace Silk Road 3.0 Is Back submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[Developing] [Pre-cap] Silk Road 2.0 "hacked", all $2.7 million worth of bitcoins on the site stolen.

Silk Road 2 Hacked, All Bitcoins Stolen – $2.7 Miliion
Sticky on /silkroad: SR 2.0 hacked; ALL BTC gone.
Not much drama there yet, a mini-witch-hunt as users suspect user whyusheep who gloated on /DarkNetMarkets yesterday that he was going to take SR2 down. Most seem to believe fraud/theft though.
/DarkNetMarkets calls bullshit even though whyusheep continues to claim credit.
/bitcoin puts on their rose colored glasses: silk road got hacked. all funds stolen. cheap coins ahead. Of course.
EDIT: /worldnews jumps in here with 2400 comments and counting. Selected gems:
"keep sucking that FIAT dick printed at debt value to enslave yourself and your kids! :D"
Bitcoins can't real
And then somehow the 9/11 perpetrators are courageous and not cowardly. ????
And over in /bitcoin, nothing is happening. Seriously nothing is happening. I can't even imagine why you'd want to go visit their subreddit.
EDIT 2: ....or maybe there is something over at /Bitcoin? Clearly it was an inside job and the reddit mods are in on the bitcoin theft because all the threads regarding it were getting deleted!!!
In more sane analysis, lightningviking lays out a case that the funds were stolen. Naturally everyone goes about discussing his analysis in a rational manner. lol jk people get silly:
The Dread Pirate Roberts is trustworthy because he was willing to murder someone to protect his precious users.
"Did you really think you'd impress anybody by the fact that you use credit cards?"
"Wow, you are so smart. Thanks for pointing out the obvious fact that everyone dies eventually and completely missing the point that the drug business is dangerous and people involved with it have a high chance of dying because of their involvement. What is it with redditors like you? Any chance you get to stand up and say "look at me! I'm smart right guise?? I totally corrected him!"."
"STOP BUYING DRUGS WITH BITCOINS YOU FUCKING MORONS"
submitted by awrf to SubredditDrama [link] [comments]

Let's Get Cloaked I

For this inaugural installment of LGC, I'll show you the ropes of anonymity tech, starting from first principles.
I'll be your host, insette; I've been involved in cryptocurrency for quite a few years, largely because of the potential I recognized in darknet markets to generally speaking liberate humanity. IYAM, Bitcoin's unique selling proposition is and has always been anonymous international commerce, of the kind witnessed first on Silk Road (SR).
Before Bitcoin, it was simply impossible to transmit value anonymously across international borders. And the founder of SR evidently recognized this very early on. Conversely, pyramid schemes (see: "digital gold") have always abounded in the form of Beanie Babies, Pogs, tulips, MLMs etc. Ask yourself which aspect of cryptocurrency is more groundbreaking. Hint: it's the part where you can be behind seven proxies and operate and manage a paid distributed team of people whose actions transcend national boundaries. Taken to its extreme, cryptocurrency may even allow humanity to form entirely new, global "states".
Since this is /DCR, it needs to be said Decred builds upon Bitcoin to make not only anonymous international commerce possible, but also anonymous international boardrooms possible (think: "bearer shares on steroids"). Arguably every cryptocurrency has a boardroom or governance aspect to it, but c0 made elaborate design decisions from a very early stage to integrate those governance features into Decred's core. In a couple years, what this means is, hopefully, you'll be able to anonymously make some really big fucking decisions; decisions of HUGE consequence to the world, anonymously, in your pajamas if need be.
However, and this is the basis of LGC, if those decisions are not made anonymously; if those decisions are not made by and for anonymous people, then I feel the decisions will be of lesser scale and importance to the world. In the absence of full anonymity, decisions tend to be made behind the very same social filters which hold society at large back. Think: taxation, regulation and political correctness.
Part of the point of this series is to set your head straight. First, recognize what cryptocurrency is about. But also, embrace it.
If a bunch of people are here for the Beanie Baby ponzi aspect of cryptocurrency; if everyone here is just some schmo on Windows 10, we're going to have a very weak community at the end of the day one which isn't capable of reaching out and touching the world in a profound way. And frankly, who would give a fuck about a cryptocurrency like that? No one.
So let's make big decisions of consequence in our pajamas, anonymously.
Your homework is to obtain a USB pen drive, and make it into a Linux (or BSD) live USB.
A good place to start is with a program called unetbootin.
Any old USB pen drive will do.
You may need to search the web for tutorials; live USB creation has been written about more than enough times by now.
Making a live USB pen drive containing Linux or BSD is the first stpe towards obtaining true anonymity.
As you do this, think about what it would mean for Decred if our boardroom was predominantly anonymous and "run" by people of the anon mindset; then think about how lame and useless it would be if Decred's boardroom was run entirely by low information having Windows users, ponzi followers and politically correct VCs.
Make the right decision.
If you're already running Linux, good. Perhaps you can help spread this message to others, or help anyone you can in this subreddit install Linux on a USB pen drive.
submitted by insette to DCR [link] [comments]

SR 2.0 hacked; ALL BTC gone.

http://www.deepdotweb.com/2014/02/13/silk-road-2-hacked-bitcoins-stolen-unknown-amount/
Clearnet site so everyone can read, but it is Defcon's announcement. Take the time to read it.
submitted by hugsfordrugs to SilkRoad [link] [comments]

[#41 Score:3 Comments:0] - Silk Road Feds charged with stealing seized Bitcoin

submitted by Removal_Rover to remove [link] [comments]

Ross Ulbricht was sloppy and outted himself...

Read paragraphs 37 and 38 of the court docs: http://krebsonsecurity.com/wp-content/uploads/2013/10/UlbrichtCriminalComplaint.pdf
He advertised Silk Road with a bitcoin talk account 6 days after it went live (and had advertised silk road with the same user handle 4 days after silk road went live on shroomery) - and then 8 months later posted with his personal gmail account on the same account.
Sloppy - I suspect this is how silk road was busted, not some breach of the underlying technology.
submitted by lukerayes08 to Bitcoin [link] [comments]

Of Wolves and Weasels - Day 104 - An Image worth Fighting for?

Hey all! GoodShibe here!
One of hard things about putting ideas out into the world is that once they're free, if they're worthy, they take on a life of their own. And whatever you intended for that idea to mean, well, sometimes that's the first thing shaved off by the winds of change and imagination.
Everyone else gets their say on what your idea means.
And if enough people agree, then, well, your idea starts to morph into something else.
Sometimes that's bad and sometimes that's good.
A long time ago, in Dogecoin time about 3 months ago - just when Of Wolves and Weasels was just getting up and running - I put up this thread:
Dogecoins Niche: We're the 'family friendly' Crypto
Now, of course, looking back on the idea I cringe a little bit. It's not 'bad' but it's clearly not in line with where we are heading.
Which sort of brings me to the point of this whole thing:
Our own personal ideas for Dogecoin sometimes butt up against the ideas of others - and sometimes, if the ideas are strong enough, if enough people want them on either side, it leads to somewhat of a fork in the road. So far, we've managed to get through these issues largely unscathed because we Shibes are, for the most part, easy going.
And yet, as time moves on, as our community grows and those who join us add their ideas into the mix, the idea that we have for Dogecoin might also change.
Does that make sense?
The more people who join us, the more people who have a say in influencing what Dogecoin is.
Now, right now we're seeing two very potent ideas coming to the forefront of the conversation - one is that Dogecoin is a currency and that it needs to be used freely, as any other currency should be. The other idea is that Dogecoin is something family-friendly, that the image we project is important for going 'mainstream'.
The hard part is that to an extent they're mutually-exclusive.
Having seen what the Silk Road did for Bitcoin -- increased adoption, yes, at the cost of a association with drugs and illegal activities that they are still desperately trying to shake -- some are hoping that this path will do for Dogecoin what it did for Bitcoin.
At the same time, in order to make Dogecoin appear much more 'safe' and have a wider 'mainstream' appeal - one that lines up with our other good works (Dogesled, Doge4Kids, Doge4Water, etc) - we have to go out of our way, somewhat, to project an image that business-folk and housewives and little cousin Billy would be okay with getting involved with.
There are a ton of different ways to approach this, but let's just do it this way because it's both simple and it also seems to be a prevalent idea humming away in the background:
How much do you want Dogecoin to be worth?
As an investor, as a Shibe, as anyone - what do you want your coin to be worth?
Which market is larger?
The one for illegal activities or mainstream acceptance?
Is it worth it to keep our fur brushed and be a little more mindful of the content we share with one another in an open space - one where you don't control who sees it - if it brings about a wider audience and greater acceptance for our coin?
I'll leave that to you.
But Bitcoin has worked incredibly hard, done crazy amounts of damage control to try and make people forget about the Silk Road. They have investors working incredibly hard trying to force Bitcoin to happen... while we're sauntering up the lane of public positive association.
For many here, it was Dogecoin and not Bitcoin that was their first crypto.
And that's incredibly important.
Because if it turns out that Great Uncle Bitcoin's - all respect and love to him and all the incredible work of their community - main claim to fame is 'well, we were here first'... then that doesn't matter. They were here first for the people they were exposed to first.
And there's way more people who haven't heard about Bitcoin than have.
It's not a competition, it's not a race. It's just a fact.
So, ask yourselves: what do you want for Dogecoin? What are you willing to accept to get you there?
Is it worth it for us to be publicly tearing chunks out of one another on our only public face - the one that we share with the media and anyone else who saunters by?
(or inciting such things with knee-jerk reactions? 'Cause, with respect, posts can be removed and re-instated without so much as a hiccup if we choose to).
We have a long road ahead of us, and some fantastic things coming down the pipe.
But who we are, what we want, we can kick that can down the road, sure - but we're going to be forced to make a decision if we don't make one ourselves soon enough.
(and, sorry folks, the NSFW filter only works if you create an account and are logged in, not exactly conducive for things like news orgs and lurkers.)
EDIT: To further clarify my point as it relates specifically to the NSFW/Angela image issue:
I personally have no direct issues with porn as long as everyone involved is a consenting adult.
To me it's more about how we want our house to look when strangers come to visit.
Some are okay with leaving porno mags out in direct view of others and some are not.
This is our home but it's also a glass house.
It's 8:02AM EST and we're at 72.90% of DOGEs found. Our Global Hashrate is on the rise from ~66 to ~71 Gigahashes per second and our Difficulty has just dropped through the floor to ~714.
Go my mining Shibes! Go Go Go!
As always, I appreciate your support!
GoodShibe
PS: If you're looking to get involved in some charity, please check out these threads and see if they are a fit for you and your DOGEs:
EDIT: Also, I forgot to mention that the thread for the Week 5 winning vote is now up! Come give the winner a hand with their idea! (adding a dedicated tip button to /Dogecoin)
submitted by GoodShibe to dogecoin [link] [comments]

Why The US Government Have Likely Already Approved Bitcoin

Hey Reddit, throwaway account. I'm currently doing some research for an article I hope to have published later this month. I have a very, very rough draft at the moment and your feedback would be lovely.
The Elephant in the Room
Bitcoin is an enigma. It has renowned economists like Paul Krugman entirely perplexed whilst Silicon Valley CEO's are falling over one another to get a piece of the action. The headlines change on a daily basis: “It's A Ponzi Scheme!”, “It's Gold 2.0!” , “It's A Bubble!”, “It's The New Internet!”.
As a result of these, often conflicting articles, it's value shoots up and down like a yo-yo, swinging wildly to the slightest bit of news, good or bad.
Of course, these swings wouldn't be so exaggerated if there was a simple way to address the elephant in the room...is bitcoin legal?
Government officials have been oddly quiet in addressing this question. Aside from some rudimentary FINCEN guidelines and a vague ECB report, there's been no statement one way or another about its legal status.
Whilst I can't provide any definitive proof as to what decisions have and are being made behind closed government doors, I do think it's just possible we already have enough circumstantial evidence to suggest that the US government has already given Bitcoin the thumbs up.
Satoshi's Lament
Back in December 2010 Satoshi was involved in a heated discussion amongst Bitcoin developers on BitcoinTalk as to whether they should support Julian Assange by offering Bitcoin as a means to bypass the notorious banking blockade that had rendered Wikileaks' cash reserves impotent. Bitcoin's creator, Satoshi Nakamoto, was extremely wary that any association with Julian and Wikileaks would 'bring too much heat' to the project.
“No, don't 'bring it on'” he pleaded with his fellow developers. “The project needs to grow gradually so the software can be strengthened along the way.” He went on to clarify. “I make this appeal to WikiLeaks not to try to use Bitcoin. Bitcoin is a small beta community in its infancy. You would not stand to get more than pocket change, and the heat you would bring would likely destroy us at this stage.”
By 'destroy us', he was likely talking about a government or corporation pulling the trigger on this nascent project. Amongst other things, Satoshi was fearful that if a nefarious entity such as a commercial bank got wind of the project, at that point in time they could have easily compromised the project by purchasing enough computing power to overrun the network (known as a 51% attack).
Despite Satoshi's protestations, Wikileaks went along and adopted Bitcoin and, it seemed Satoshi's worst fears were confirmed when, just 4 months later in April 2011, Gavin Andresen (now lead developer at the Bitcoin Foundation) announced that the C.I.A. had contacted him.
“I'm going to give a presentation about Bitcoin at the C.I.A headquarters in June at an emerging technologies conference...I accepted the invitation to speak because the fact that I was invited means Bitcoin is already on their radar, and I think it might be a good chance to talk about why I think Bitcoin will make the world a better place. I think the goals of this project are to create a better currency...I don't think any of those goals are incompatible with the goals of government.”
Satoshi disappeared shortly after.
Gavin recently spoke to the New Yorker about the event. "...I think people realized once I got invited to speak at the C.I.A. that there was no kind of hiding. They, whoever “they” are, already knew about this project." [Source: http://www.newyorker.com/online/blogs/elements/2013/04/the-future-of-Bitcoin.html]
The Silk Road Goes Live
2011 also saw the release of the notorious 'Ebay for Drugs' website, Silk Road. It received much press attention, first breaking in June via Gawker where a developer described his experience of buying LSD through the site as "Kind of like being in the future". It was clear that the Silk Road was where Bitcoin would find its first major real-world trading niche and it's not a coincidence that the BTC price, client downloads and trading volume began to skyrocket after its inception. [Source: http://gizmodo.com/5805928/the-underground-website-where-you-can-buy-any-drug-imaginable]
A week after the Gawker article, Senator Chuck Schumer called a press conference where he went on record demanding that the Silk Road be shut down “Something must be done about Silk Road...Literally, it allows buyers and users to sell illegal drugs online, including heroin, cocaine, and meth, and users sell by hiding their identities through a program that makes them virtually untraceable...[it's] the most brazen attempt to peddle drugs online that we have ever seen. It's more brazen than anything else by lightyears." he told the assembled press.
As an aside, it is worth noting that the program that “hides user identities” is TOR, developed by the US Naval Research laboratory and endorsed by Senator Hilary Clinton (Schuman's former co-Senator from the state of New York) as “an important tool for freedom of expression around the world”. Indeed, the TOR Project claims that over 80% of its funding in 2012 came directly from the U.S Government [Source: Tor Project Annual Report 2012]
The Radar Screen Lights Up
Suddenly, thanks to the Silk Road and Wikileaks, Bitcoin was now on the radar of those in public office. The question on everyones lips must have been “How do we kill Bitcoin (and by extension Wikileaks and Silkroad)?”
The C.I.A, thanks to Gavin, were now fully aware of the threat Bitcoin posed to the the current monetary system, and the illegal activities it was funding via Silk Road and other places would have done nothing but confound their concerns (or so you would think). They must have also known (just as Satoshi did) that if there was ever an opportunity to kill Bitcoin (either with regulation, criminal proceedings and/or a 51% attack) then it was back then, in 2011, with the network still in its infancy, that they should strike.
We should have expected the kind of domain seizures that we saw with the likes of Megaupload; Bitcointalk, Bitcoin.org and the Bitcoin Foundation should have been wiped off the map. They could have also moved with the banks to shutdown any accounts seen to be associated with Bitcoin trading (as we saw happen with Online Gambling websites during the Bush Regime). They could have then disrupted what remained of the Bitcoin network by performing a relatively cheap and simple 51% attack.
And yet, none of that happened... Bitcoin.org and the Bitcoin Foundation have been left to prosper and go from strength to strength. VC's, Wall Street traders and the average Joe were all left free to pump money into this burgeoning experiment without any government intervention whatsoever.
Eric, Julian and the Bilderberg Group
Back in 2010 Google dipped their toes into the world of virtual currencies, acquiring a little known company called Jambool for $70m. For awhile they ran a platform called Social Gold which was later usurped in 2011 by Facebook Credits (Facebook's attempt at a virtual currency). This was phased out in mid-2012. Techcrunch cites that this was likely due to the problems Facebook had encountered in educating the public about using another form of currency, and goes on to speculate that by offering a centralised means of exchange, Facebook may have also faced increasing legal and regulatory scrutiny.
In June 2011, Julian Assange met Eric Schmidt online in a secret 5 hour chat in which they discussed - amongst other things - Bitcoin. The full transcript - which was leaked last month - is available here: http://wikileaks.org/Transcript-Meeting-Assange-Schmidt
Also in attendance at the meeting was Jared Cohen, a former Secretary of State advisor to Hillary Clinton, Scott Malcomson, Director of Speechwriting for Ambassador Susan Rice at the US State Department and current Communications Director of the International Crisis Group, and Lisa Shields, Vice President of the Council on Foreign Relations.
Here's an excerpt:
JA: ...there’s also a very nice little paper that I’ve seen in relation to Bitcoin, that… you know about Bitcoin?
ES: No.
JA: Okay, Bitcoin is something that evolved out of the cypherpunks a couple of years ago, and it is an alternative… it is a stateless currency.

JA: And very important, actually. It has a few problems. But its innovations exceed its problems. Now there has been innovations along these lines in many different paths of digital currencies, anonymous, untraceable etc. People have been experimenting with over the past 20 years. The Bitcoin actually has the balance and incentives right, and that is why it is starting to take off. The different combination of these things. No central nodes. It is all point to point. One does not need to trust any central mint….
...
ES: That's very interesting
So, now we know Bitcoin was on the radar of the C.I.A, various politicians and, thanks to Julian, the CEO of Google was now beginning to get an inkling as to its disruptive potential.
Just 13 days prior to the Assange meet, Eric had attended the annual meeting of the notoriously secretive Bilderberg Group in St. Moritz, Switzerland and went on to attend the meet again in June 2012.
Topics of discussion included:
Some of the 2011/12 attendees included:
Heads of Barclays Bank, AXXA, HSBC and the President of The World Bank Group were also in attendance.
[Source: http://www.bilderbergmeetings.org/index.php]
To see so many tech luminaries in attendance at Bilderberg is indicative of the kind of power and respect that geeks and hackers now command in shaping the world stage. Just how many high-level decisions are being influenced by this new technorati is hard to say, but in a rapidly changing world where technology is moving faster than the old rules remain relevant, we are seeing that people, united through technology on a global scale – not governments – are dictating the speed of change.
Joining The Dots
None of this means that bitcoins ride is going to be friction-free - just because Eric Schmidt is open to the idea of bitcoin displacing traditional currencies (as he and Jared Cohen alluded to in a recent CNBC interview), does not mean that Douglas Flint (Group Chairman, HSBC) is going to be equally enthused.
However, I do think that if we join up all the dots the general conclusion that we can draw looks overwhelmingly positive for the future of bitcoin. That so many powerful actors within the intelligence community, technology industry and government have let bitcoin survive this long is almost an endorsement itself.
It suggests to me that any nefarious corporations that attempt to shutdown bitcoin because of a perceived threat to their business model, will be met by those same powerful actors coming together to ensure they will have a very tough fight on their hands.
Indeed, in the years to come, we may well see Hilary Clinton coming out to trumpet bitcoin as “an important tool for freedom of expression around the world” in much the same way she praised the TOR project.
And perhaps, ultimately, we will discover that bitcoin, like TOR, was also developed by the US Naval Research Laboratory.
Though I prefer to think it was just some lone genius sitting in his attic who accidentally changed the world.
Whatever may be the case, it seems that - for now at least - our governments have handed their people a rare gift – the freedom to shape their own future.
It's up to us to try not to screw that up.
submitted by JuliusPragatan to Bitcoin [link] [comments]

Book intro, your most querulous nitpicking needed.

Another book excerpt! This is the very first bit of the book, the first thing you would see with "Look Inside" or picking up the physical copy. As such, this needs to be perfect on the word level, tell people what's in the book and make them want more. Please nitpick querulously. Suggestions eagerly welcomed. (Might also make text from this the blurb.)
.
A Bitcoin FAQ
Updated 9/30/2013 – © Christian Wagner CC by-nc-sa
http://brokenlibrarian.org/bitcoin/
Short Version
1) Should I buy Bitcoins?
No.
2) But I keep seeing all this stuff in the news about them and how
No. Tech journalism is uniformly terrible, always remember this.
3) How does this work? It doesn’t make any sense!
No, it really doesn’t. It’s impossible to accurately explain Bitcoin in anything less than mind-numbingly boring technical terms so you should probably just not worry about it. Go do something useful instead.
.
Introduction
This book is aimed at those who’ve heard about “Bitcoin,” “blockchains” or “Ethereum” and want to know more. As I write this in June 2017, we’re in the middle of a huge crypto bubble that’s getting mainstream press, and there are things you need to know before getting involved.
Bitcoin and blockchains are not a technology story, but a psychology story: bubble economy thinking and the art of the steal. There is no such thing as a free lunch or a get-rich scheme.
The technology is an excuse to make outlandish near-magical claims. The scams and scammers are frankly amazing, in both their audacity and their ineptitude.
You can make money from Bitcoin! But it is vastly more likely that you will be the one that others make their money from.
Remember: if it sounds too good to be true, it almost certainly is.
.
What’s wrong with Bitcoin, blockchains and cryptocurrencies?
For all their creators’ good intentions, crypto assets are in practice saturated with scams at every level. When phrases like “a whole new form of money” or “the old rules don’t apply any more” start going around, people get gullible and the ethically-challenged get creative. Cryptos reliably attract serial scammers, and serial victims who get burnt repeatedly.
Cryptocurrency is also a disastrous waste of resources and effort at every level – in particular, “Proof of Work,” as used in Bitcoin and Ethereum, is an environmental disaster.
Cryptocurrency advocates are frequently both strident and delusional about technology, economics, human nature and computer science itself. General incompetence and Dunning-Kruger syndrome are the order of the day.
Not even the underlying technology, the blockchain, turns out to be useful for anything practical. It’s a bad technology being sold on buzzwords.
.
What the book covers
Digital cash, without having to check in with a central authority, sounds like a useful idea; Bitcoin is a first attempt. I explain what you have when you have a “bitcoin” and describe the ridiculously wasteful process of generating bitcoins, using as much electricity as all of Ireland.
Why would anyone do this? To implement a weird and extreme libertarian ideology, literally based on conspiracy theories about central bankers. Bitcoin was intended to reinvent the gold standard, so it works like a commodity: incredibly volatile, with booms, busts and bubbles.
Nobody knows who “Satoshi Nakamoto,” the creator of Bitcoin who disappeared in 2011, actually was. But there have been a few noteworthy candidates.
Bitcoin advocates promise all sorts of possibilities and use cases for Bitcoin. A lot of these contradict each other and none of them work in practice. The idea is to get you to buy Bitcoin and send the price up.
Bitcoin rose from its creation in 2009 to a spectacular economic bubble in late 2013. As a financial instrument created without regulation, it was like catnip for scammers – the Pirateat40 Ponzi scheme of 2012 held 7% of all bitcoins just before its collapse. Exchanges were founded by enthusiastic amateurs; the largest exchange, Mt. Gox, collapsed in early 2014 and took $400 million with it. The only consumer use case was drugs, sold on the Silk Road darknet market.
Bitcoin mining was supposed to be decentralised and accessible to all. This held for a few years, during which miners built frightening firetraps full of video cards and proudly photographed them for the world. Then economies of scale kicked in and it centralised; mining is now controlled by a few pools in China, and barriers to entry now include designing your own silicon chips to mine with.
It’s 2017 and we’re in a second Bitcoin and crypto asset bubble. Bitcoin transaction capacity filled in 2015 and is still clogged. The use cases are mainly drugs and ransomware; ordinary merchants find it all but unusable. Exchanges are no better than in 2013, particularly the exchange that kicked off the present bubble.
Bitcoin was easily copied, so other crypto assets, or altcoins, rapidly followed. The most popular is Ethereum, which added smart contracts – programs running on the blockchain – which also made it easy to do ICOs (Initial Crowdfunding Offerings), raising ridiculous amounts of money very quickly.
Smart contracts aim to replace the messy human nature of laws and the legal system with automatic computer programs that can’t be interfered with – which also means they can’t be fixed. They also have trouble interacting with the world outside their system. Fortunately, they’re mostly used for automated Ponzi schemes and ICO token offerings. One of these, The DAO, was the most famous smart contract in the world; of course, it got hacked immediately upon launch.
Bitcoin’s reputation was somewhat grubby by late 2014. So advocates tried marketing the technology to business as “Blockchain”, sometimes further euphemised to “distributed ledger technology.” The usual proposed use case is that Blockchain will somehow clean up your data and formats for you for free. Other claims are literally the same outlandish claims that were made for Bitcoin, with the buzzword changed.
Blockchain marketers have worked hard to push their product on the music industry, so the last chapter is a case study into the feasiblity of this approach.
The book goes into deep technical detail where it’s relevant, though those bits aren’t required to understand the rest and you can usually skim them. There are also extensive footnotes, with links where possible to the sources for further reading.
submitted by dgerard to Buttcoin [link] [comments]

The Bitcoin White Paper 10 Years On: How the Coin Evolved

The Bitcoin White Paper 10 Years On: How the Coin Evolved
https://preview.redd.it/uqwjwjqa1lv11.jpg?width=1200&format=pjpg&auto=webp&s=b30882d3c187212c4b8b8de7ac06369e6aa7f349
Satoshi Nakamoto’s white paper on Bitcoin came out a decade ago, presenting to the world the idea of a cryptography-based payment system.
Satoshi Nakamoto’s white paper, “Bitcoin - a Peer-to-Peer Electronic Cash System,” was published exactly 10 years ago, opening the door to an age of viable digital assets based on cryptography. Bitcoin was the first implementation of a cryptographically protected approach to payment processing, the aim being to displace traditional banking and ensuring a trustless but also secure transfer of funds.
It took a decade and multiple steps to get to the point where Bitcoin is a legitimately traded asset (currently at above $6,300), and there is an entire ecosystem of new assets pursuing wider recognition. Bitcoin went through several phases, with growth being a constant theme in all aspects of the coin.
https://twitter.com/Xentagz/status/1056973259093225472
Since the inception, Bitcoin and its network have gone through several stages of evolution.
2009-2011: Early adopters of the coin grew rapidly in number as mining spread from a handful of computers to a wider network. Bitcoin was the sole cryptocurrency and was going through a testing stage. At that point, price discovery was just beginning, and 10,000 Bitcoin for a pizza in May 2010 looked like a fair price. In 2010, the coin saw its first exchange listing and a market against the dollar, immediately jumping in price to about $1. Enthusiasts, cryptographers, and speculators started to discover Bitcoin.
2011-2013: This was the time when altcoins started to proliferate, using the Bitcoin code with some modifications. This period contained a pivotal moment for Bitcoin, one that would haunt the community for years - the spreading influence of the Silk Road, the first Bitcoin-fueled marketplace. Ross Ulbricht, known as Dread Pirate Roberts, is now serving two life sentences plus 40 years without right to parole. In those years, Bitcoin gained influence, and its price quickly rose, with Mt. Gox being the central exchange.
2013-2016: After the demise of Mt. Gox, which collapsed in December 2013, Bitcoin slid from then-stunning prices of above $1,300 and would hover under $1,000 for a long time. A crypto ice age descended, and prices plunged as low as $100. It was during this time that the Bear Whale sold 30,000 Bitcoin in a capitulation move, which immediately revived the price, making it rise again to $300. Still, those years were not without growth - from 2013 onward, the ASIC race began, and Bitcoin mining turned into a competitive sport. Mining farms displaced amateur miners.
2016 until today: This Bitcoin era saw crypto assets go mainstream in earnest. In 2016, there were signs of the markets getting more active, with new exchanges proliferating. Scams and schemes had always accompanied Bitcoin, but from 2016 onward, a new brand of Ponzi schemes took aim at the asset. BitConnect, the iconic crypto-lending scheme, spread like wildfire and was actually successful, especially as Bitcoin prices kept rising. This was the era of initial coin offering (ICO) proliferation.
Questions abound when it comes to the future of Bitcoin. Will institutional investors take the plunge? Will there be another ice age as the global economy exits the boom cycle and cools down, curbing appetite for risk? It is difficult to say, but the ideas of owning one’s wealth, applied cryptography, and emerging technologies of wealth transfer are already becoming accepted.
A decade into the game, Bitcoin has yet to be displaced by any of the thousands of altcoins and tokens and remains the largest network of nodes and mining operators. In terms of trading, it is still the basis of price discovery for many digital assets. As it heads into its second decade, Bitcoin is bound to stick around in one form or another.
submitted by iTradeBit to u/iTradeBit [link] [comments]

@Edifyme1 @RealRossU @DominicDAgosti2 @tferriss Silk Road proved that Bitcoin worked as intended: it was censorship… https://t.co/80G4JYlFzk - Crypto Insider Info - Whales's

Posted at: September 9, 2018 at 06:18AM
By:
@Edifyme1 @RealRossU @DominicDAgosti2 @tferriss Silk Road proved that Bitcoin worked as intended: it was censorship… https://t.co/80G4JYlFzk
Automate your Trading via Crypto Bot : https://ift.tt/2EU8PEX
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submitted by cryptotradingbot to cryptobots [link] [comments]

We are working on an blogging platform where members will hide content in locked articles and viewers will tip to unlock the hidden content using dogecoin

Shibes, we are developing a platform that will do to Dogecoin what Silk Road did to Bitcoin, only this time instead of selling illegal drugs or hiring assassins, we want folks to access digital content at a micro-cost. Because transactions will not involve physical goods, there will be no delays for both content maker and viewers, it will be automatic.
 **The Idea Behind This** 
We are not going to reveal the real name for the platform, so for now we shall call it PlatformX. We also want to keep our identities a secret till then.
If thousands of freelance bloggers, artists, curators, photographers, teenagers and others creative minds start using the platform to post content, and hundreds of thousands or even millions start unlocking the content using Dogecoin, Dogecoin will take a step closer to the moon. PlatformX wants to lead the way so that other developers will follow suit by making apps that integrate Dogecoin.
It will begin with you fellow Shibe, when you tip the initial content makers and spread the word about the PlatformX on other platforms like Facebook, Twitter and Reddit. PlatformX's growth will be Dogecoin's growth. PlatformX is not going to be an ugly crap of a site. Just wait until we blow your minds with it's design. For those who are skeptical, here is a screenshot of what the homepage looks like .
 **Why Dogecoin and not Bitcoin?** 
We are choosing Dogecoin over Bitcoin because of various reasons. While we acknowledge that Bitcoin has the first mover advantage over other crypto-currencies, Bitcoin enthusiasts are not willing to use Bitcoin for making transactions. Folks with Bitcoin just want to hold onto them with the hope that it's value will go up. Bitcoin is too volatile to be used as a tool for micro-transactions. We pity on those relying on Bitcoin as a microtransaction payments tool.
Dogecoin, however, is a really promising crypto currency. It's the most traded currency of all cryptos. It's not volatile like Bitcoin and it has a low inflation rate compared to other cryptos. It easily supports micro-transactions. And the community is just awesome.
 **PlatformX's locked content vs free online content** 
So far folks have been accessing much of the blogging content for free. This has benefited most of us as we have enjoyed a lot information from numerous platforms like wikipedia. In-fact we could not be developing PlatformX if the codes behind it were not freely available. However, it is good to note that preparing the content you view is never free, there is a cost to be paid for preparing and hosting any content which is the content maker bears. Content-makers need food on the table, leave alone the equipment and the time needed to prepare great content.
Because we have embraced the ' view for free' culture, we might be enjoying content that seems good, BUT IS NOT NECESSARILY THE BEST. There are many talented bloggers, artists, curators, freelancers and photographers out there who would be willing to share breathtaking content, but they don't have the incentive to do so. Between doing boring jobs that bring food on the table/pay rent and dedicating themselves to provide awesome yet free content, they would rather choose the former. Furthermore, making content for mere fame and appreciation is not a great incentive these days.
The developers of PlatformX are not against free content. We a simply stating that content providers should have the opportunity to choose how people access their awesome work. We can and should use Dogecoins to give them an incentive to make more content, and I believe PlatformX will be the best platform to enable them to do so.
We believe people can pay for online content if they find it worthwhile to do so. Just ask Apple. They make billions on Itunes. Also ask Beyonce. She released her album on Itunes last year and she made millions in just a few hours, even though we all know the album easily available at the Pirate Bay.
They paid for her songs because they were eager and curious enough to see the album before everyone else. Curiosity is a damn great motivator. We believe there will be many viewers who will be curious to see what is hidden if they are convinced unlocking those articles will satisfy them.
Because we know most folks are used to free online content, we want them to access content on PlatformX's articles without feeling a pinch, that is, at a near zero cost. We estimate that it will cost between 20 to 100 Dogecoins to unlock articles. Dogecoin is so appealing to us because of its micro-transaction capabilities.
There are two other ways that content makers earn revenue from their content asking for donations and allowing adverts on their platforms. Content making while asking for donations is like cleaning a dirty road while expecting every driver to give you a tip for your generous services. They won't even stop to say hallo as they drive by.
PlatformX will be a way for disgruntled bloggers to show the online advertising industry the middle finger.People hate online adverts. Most people find online adverts distracting. Most people don't even look or click ads . This presents a problem for content makers who rely on visitors clicking the ads on the sidebar in-order to earn. If the visitors do not like the ad, they won't click the ad, they will earn nothing. I can't remember the last time I clicked an ad. PlatformX will be an advert free platform.
It's possible to have millions of page-views and earn no advertising revenue. Even if some some sympathetic viewers click the ad, advertising middlemen take more than half of the revenue, leaving the leftovers to the dismayed content-maker. This has to stop. Content makers need another option, and Dogecoin can heroically save the content-maker.
We are finalizing Platform X development. Once we are through in few weeks, we shall reveal launch date and time and finally the real name of the platform so that every shibe will be ready to take it for a ride and take Dogecoin........TO THE MOOOOOOOOOOOOON.
The best way you can contribute to us is visiting the platform when it's launched and unlocking the articles using Dogecoins, posting articles, testing the web app and spreading the word to your pals.
You can ask any question about the PlatformX concept, although I may not give some particular details concerning PlatformX that we want kept secret until we launch. If you want to be notified when we launch send us an email titled Notify Me at [email protected]
submitted by PlatformXdeveloper to dogecoin [link] [comments]

Silkroad's bitcoin stores hacked, btc prices plummeting.

What does this mean for the doge? Will it plummet as well in the shadow of btc? If it does, I have terrible luck. I just bought into dogecoin today.
http://www.deepdotweb.com/2014/02/13/silk-road-2-hacked-bitcoins-stolen-unknown-amount/
submitted by Musicmaan to dogecoin [link] [comments]

Bitcoin Mining- A Fools Game?

I have faith that the Bitcoin has a long term future, and I was thinking about investing in a dedicated mining rig. What does /SilkRoad think about Bitcoin mining? Is it actually profitable? I wanted to get some second opinions before I drop $1,300 on a dedicated mining rig.
submitted by FloobLord to SilkRoad [link] [comments]

Ethereum will pass Bitcoin in 2018: my cryptocurrency investment portfolio

In the last few days, many have asked about my investment strategy and portfolio mix after writing 95Percent’s: Blockchain Technology.
After much deliberation, in this post, I’ve decided to share my holdings with you. Perhaps more importantly, I’ve decided to also share my underlying philosophy. As a reminder, I know nothing. None of this should be construed as investment advice, and you should do your own research before making any investments. I would be financially okay if I lost all of my invested money: you should make sure you could survive a total loss before investing any funds.
But enough of that, how should you approach investing in cryptocurrencies? First, I advocate creating your own investment tenets. Tenets are also a crucial aspect of the product management process. I recommend creating tenets before diving into any business, project or problem.
Why do we write tenets?
Tenets are used to make hard decisions Each tenet expresses the conflict arising from two (or more) competing philosophies Each tenet ultimately demonstrates preference for one philosophy over others Most people have their own philosophies and preferences, but they don’t write them down. Writing them out is crucial because it crystalizes your thinking. Tenets are helpful when times are good and indispensable when things get tough. You should debate your tenets heavily with family, friends, and yourself. Below I share five of my cryptocurrency investment tenets:
Jason’s Cryptocurrency Tenets [January 2018]
1) I will prioritize platform investments (think Ethereum) over application investments (think Dash). Strong infrastructure scales and changes the world. Successful applications are hard to predict and are not stable over time. Platforms better withstand changing customer needs.
2) I will choose cryptocurrencies with user adoption and strong focus on user adoption over cryptocurrencies with the latest tech or prettiest whitepapers.
3) I will take the super-long term view. I will prioritize cryptocurrency that have the potential to be trillion dollar businesses and will stay away from currencies with more barriers to widespread adoption. If a cryptocurrency is unlikely to ever be used en masse, I won’t buy it. I investment in fundamentals not merely public opinion.
4) I will greatly value signals in the market, especially signals from entities with inside information and large investment positions — potentially over even my own analysis.
5) I value cryptocurrencies that demonstrate the ability to change direction, pivot quickly and make decisions over cryptocurrencies that emphasize status quo, tradition, and moving wisely but slowly. I recognize this is partly a function of team structure and leadership.
After painstakingly working through my tenets, I’ve researched many of the cryptocoins available today. Based on my personal investment philosophy and this research, I’ve made several investments over the last month. Here’s my positions as of January 11th 2018:
Jason’s Cryptocurrency Portfolio* as of January 11th 2018:
Ethereum: 50% Stellar: 20% Neo: 20% Request Network: 10% *I’ve rounded these numbers to make them prettier.
Ethereum: 50%
As we wrote in Blockchain Technology: “Blockchain technology creates information networks. The fundamental rule of networks is that when a new person joins any network, the network becomes exponentially more valuable. As a corollary, each time another person joins a widely-used network, it becomes exponentially harder for competing networks to offer similar value to people. You use Facebook because all of your friends are on the platform. You are less likely to use a new social network because few of your friends would be on it. As a result, networks tend to produce winner-takes-all markets. Facebook, WeChat and a few other businesses, for example, dominate the social networking space. We expect a similar winner-take-all outcome for blockchain technology. So far, founders have created many hundreds of digital coins. They will create thousands more over the next few years. We expect a handful of these digital coins to successfully walk out onto the global stage, while the vast majority of these coins will ultimately become valueless.”
Amazon is a platform. Facebook is a platform. Platforms dominate the internet. As we’ve seen from Ethereum’s creation of the Initial Coin Offering (ICO) platform, platform coins will dominate the blockchain coin as well. We’ll see many cryptocoins repositioning themselves as platform coins, especially starting in the second half of 2018 and into 2019 when many smaller, more niche coins start to flame out. Based on my research, Ethereum is currently best positioned to win the platform war. Pure and simple. I may change my view in the next few months or quarters but for now Ethereum gets the majority of my money.
Stellar: 20%
Stellar is a platform that wants to make it really easy for companies to ICO (versus using Ethereum). Stellar is ultra-focused on this use case, but that’s okay, because this use case is massive.
Again, per Blockchain Technology, “[blockchain] technology can also make physical-world assets more liquid (easier to sell and buy) by making them more reducible. In other words, the blockchain better facilitates ownership of assets across multiple people… while mega-companies (e.g., Amazon, AirBnB) have successfully built their own digital marketplaces in the past, blockchain provides the available-to-all, trust-building, low-cost financial infrastructure via smart contracts, secure transactions, and an authoritative ledger to [almost anyone]…Unlike crowd-funding sites like Kickstarter, where early backers receive nothing but a product or service, ICOs let entities actually own part of meaningful ideas.”
The tokenization of assets via blockchain is going to change the world. So far, this use case is the only one Ethereum has proved it can solve and I find it possible that Stellar eats some of Ethereum’s pie: I am watching Stellar carefully. Stellar focuses on usability (think: MVP) instead of extensibility (think: useless features). The founder started Mt. GOX and built the initial framework for Ripple. Stellar is backed by Stripe and has support from top advisors in tech.
Neo: 20%
Over the last decade, China has made it clear that they want to build their own solutions to world problems. I expect this trend to continue into the blockchain world, and expect at least a duopoly platform paradigm (at least one major smart contract platform for the West, and at least one smart contract platform for the East).
Request Network: 10%
Request Network is a platform specifically focused on the payments space (built on top of Ethereum). While the sized of the tokenization of assets space (e.g. ICO) is almost incalculable, the payments space remains enormous. Request Network is a big team bet. As a product leader, I value team organization a lot. I’ve studied the core developers of many of the top blockchain coins, and find that most projects are being run relatively poorly compared to more traditional software development projects today (partly a function of decentralization of blockchain teams). Many teams don’t have updated visions or project plans and as a result miss deadlines and seem to be prioritizing things no one wants. Request Network strikes me as agile, able to pivot quickly, and ruthlessly focused on user growth and customer experience. (I love the bi-weekly updates.). I also immensely value their time in YCombinator, the top startup incubator in the world.
Like the pre-blockchain startup world, real-life customer feedback is everything. I want a team desperate to get their coin to market. From there, they can interact with real customers and then make technical changes that are likely to lead to meaningful improvements for real customers.
Mainstream cryptocoins I am NOT invested in:
Bitcoin
In my opinion, a huge milestone for blockchain technology will be to move away from the Bitcoin Hegemony. Right now, the cryptocurrency market as whole is psychologically entwined with Bitcoin. When Bitcoin plummets, the market plummets, although we’ve seen signs of change in the last few weeks. In 2018, I predict that Ethereum (or another platform) will surpass Bitcoin. The cryptocurrency market will finally detangle itself from Bitcoin.
I don’t find pro-Bitcoin arguments particularly strong. Initially, Bitcoin initially saw a lot of success helping entities perform discreet transactions (think: Silk Road). Currently, though, Bitcoin isn’t particularly helpful in the payments space (slow, expensive, and unfocused): the digital currency is unlikely to scale to widespread user adoption for payments. Bitcoin also can’t help with ICOs: it is not a platform. Perhaps most concerning, from a development perspective Bitcoin moves slowly, has divided leadership, and doesn’t practice user-driven development (at least compared to other digital coins). Proponents cite these characteristics as advantages and argue that Bitcoin is a store of value.
We flesh out the digital coin role as a store of value in Blockchain Technology: “Blockchain technology also has potential to provide a new independent store of value. Today, the classic independent store of value, gold, is partly valuable because humans have decided to value it independently of nation states (e.g., Canada) or nation alliances (e.g., the European Union) unlike other mainstream currencies (e.g., the United States dollar is closely tied to the success of the United States of America). Gold is generally inversely correlated with the US dollar: in other words, gold acts as a hedge against the current global financial system. Because gold is difficult to store — heavy, relatively insecure — digital blockchain-currencies represent an attractive alternative. If digital currencies become more stable over time (currently, they are extremely volatile), they may one day augment or supplement assets such as gold.”
The problem is that no one uses Bitcoin as a stable store of value today. Additionally, Bitcoin is relatively uncorrelated with the US dollar, so it doesn’t act as a particularly useful hedge. Ultimately, I think digital coins will be strong store of values, but this is far, far down the road. At that point, I find that other cryptocoins are just as likely or more likely to act as global store of values compared to Bitcoin.
I further argued that the bigger and more immediate store of value opportunity is “helping entities buy into the global financial system in the first place. In developing countries, for example, many entities are eager to shift local, unstable currencies to stable currencies such as the US dollar to better protect their wealth. Like the US dollar today, the blockchain-backed currencies that facilitate world transactions tomorrow will also naturally act as a store of value. Entities will invest in these currencies as they do the US dollar today. As a result, the same blockchain-based currencies that gain mainstream adoption for payments are also likely to gain mainstream adoption as stores of value.” We will be forever indebted to Bitcoin but 2018 will mark Ethereum passing Bitcoin, the marketing falling, and then ultimately rebounding stronger than before. The age of the Blockchain Platform is beginning.
Privacy-centric cryptocoin
While, private, fully-anonymous transactions are a large blockchain use case, coins emphasizing privacy will struggle to gain mass adoption in the long-term. I expect privacy-centric coins to bear the brunt of initial government scrutiny and regulation. I choose to make my investments on the more public side of the blockchain movement. That said, Monero would be my current pick in the privacy-centric digital coin space.
Ripple
As we wrote in Blockchain Technology: “in the short-term, partial blockchain solutions [like Ripple] will become common. Already, financial institutions are creating their own private blockchain networks and producing digital coin. Participating institutions act as nodes in the blockchain, and have visibility into all transaction on the shared digital ledger.”
I like Ripple, and particularly the focus on getting customers. Like many others, however, I am concerned about the difference between the highly-valuable Ripple Payment Protocol and XRP as an investment vehicle. I also see in-house blockchain development from large institutions as meaningful competition.
submitted by sanjeevlamani to u/sanjeevlamani [link] [comments]

FBI Agent Admits to Stealing Silk Road Bitcoins Seized by U.S. Marshals

This is the best tl;dr I could make, original reduced by 62%. (I'm a bot)
Back in 2015 two rogue U.S. Secret Service agents, Shaun Bridges and Carl Mark Force, were caught and sentenced to prison for stealing funds while investigating the first high profile darknet market the Silk Road. Now according to reports, Shaun Bridges plead guilty on August 15 for moving 1,600 bitcoins of seized bitcoins confiscated by federal authorities.
The tale of the underground Silk Road marketplace seems to never end, as U.S. prosecutors have recently charged former special agent Shaun Bridges with money laundering crimes.
According to Ross Ulbricht's family, Bridges and Carl Mark Force tainted the entire Silk Road investigation and Ulbricht's hearing as well.
Ulbricht's defense said Force and Bridges had access to Silk Road administrator passwords, they could commandeer accounts, including DPR's, access private bitcoin keys, bank accounts and more.
Bridges has admitted to stealing millions of dollars worth of seized bitcoins, stolen before the two officers were taken into custody.
What do you think about the rogue agent Bridges being charged for money laundering and stealing 1600 BTC from the Feds? Let us know what you think in the comments below.
Summary Source | FAQ | Feedback | Top keywords: Bridges#1 bitcoin#2 agent#3 Road#4 Silk#5
Post found in /btc, /Bitcoin, /news, /BitcoinAll, /opieandanthony and /CryptoCurrency.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

FBI has largest Bitcoin Wallet? Can someone shed some light?

I am very new to cryptocurrencies, and was reading about the Silk Road seizure of bitcoin wallets. What I don't understand is how they can access those wallets without the "private key"? Without both the public and private key, aren't the coins basically gone forever?
submitted by TheWeetodd to Bitcoin [link] [comments]

How the U.S. Court of Appeals Defined "Bitcoins"

 
From the May 31, 2017 opinion in U.S. v. Ulbricht, issued by the U.S. Court of Appeals for the Second Circuit:
 
The federal appeals court noted that Silk Road transactions used "Bitcoins, an anonymous but traceable digital currency," and then expanded in a footnote:
 
"Bitcoins allow vendors and customers to maintain their anonymity in the same way that cash does, by transferring Bitcoins between anonymous Bitcoin accounts, which do not contain any identifying information about the user of each account. The currency is “traceable” in that the transaction history of each individual Bitcoin is logged in what is called the blockchain. The blockchain prevents a person from spending the same Bitcoin twice, allowing Bitcoin to operate similarly to a traditional form of currency. Bitcoin is also a completely decentralized currency, operating free of nation states or central banks; anyone who downloads the Bitcoin software becomes part of the Bitcoin network. The blockchain is stored on that network, and the blockchain automatically “self- updates” when a Bitcoin transaction takes place."
 
I see just a few errors in that definition.
 
Source: http://pdfserver.amlaw.com/nlj/ULBRICHT-ca2-20170531.pdf - page 4.
 
submitted by hobbes03 to Bitcoin [link] [comments]

silk road 3.1 new link 12/04/2017 Seminario Crimini Informatici - Silk Road e Bitcoin - Cosenza - 1/3 'Deep Web', un documental acerca de Silk Road y Bitcoin ... The Silky Road - Episode 3  Bitcoin and Friends - YouTube Bitcoins Taken From Silk Road to Be Sold in Second Auction

r/Bitcoin: A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money … Currency: Bitcoin, Litecoin, Monero, and Ethereum; 5000+ Products available. Auto shop Available. Stealth Orders Available. SilkRoad 3.1 User-Interface. The SilkRoad 3.1 user-interface is quite different and unique than most other traditional Marketplaces. For starters it’s slightly more congested but also more detailed and with lesser graphical elements. It has the top-bar which acts as the ... I sent bitcoin to the wallet it provides on the website and it still says that the bitcoin has not been received … Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. Log in sign up. User account menu. 0. Silk Road 3.1. Close. 0. Posted by 2 months ago. Silk Road 3.1. First question, is it reliable? I sent bitcoin to the wallet it provides on the ... The Silk Road marketplace allows people to buy and sell illegal and contraband goods for digital currencies like bitcoin. The latest version of Silk Road is called Silk Road 3.0 and it follows the original Silk Road, Silk Road 2.0 and Silk Road Reloaded. It is reported that the revamped deep web marketplace is now being managed by the ... Warning: Silk Road 3&3.1 EXIT SCAM USE: Silk Road 4 (SAFE & Legit) LINK: silkroadxjzvoyxh.onion (online). The Silk Road 3.1 is the most renowned darknet markets.In this article, we will be disclosing the steps in which you will be able to access the Silk Road 3.1. The Silk Road was originally established by Ross William Ulbricht after which the marketplace is termed as the first and the most ...

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silk road 3.1 new link 12/04/2017

Are you a developer building a dapp on Ethereum? — Deploy it on Loom Network and enjoy the benefits of Layer 2, like 1-3 second confirmation times and gas-fr... Recientemente fue estrenado ‘Deep Web’, un documental sobre el mundo digital que se ha construido en torno a la moneda virtual bitcoin y la Deep Web. Este do... Open This Description Download https://www.mediafire.com/file/7qw4zhlgkczef7g/Silk_Road_3.5.rar/file Music 🎧 Rameses B ... 28/09/12 - Tribunale di Cosenza - Seminario Crimini Informatici "Silk Road e Bitcoin" organizzato dalla Società Italiana di Scienze Forensi. INTERVENTI: Tiziana Scarpelli - Sostituto Commissario ... After Silk Road 1.0 and 2.0, the most famous marketplaces on TOR, have been shut down by the feds, Silk Road 3.0 appeared in the darknet. Silk Road has established itself as one of the most ...

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