Bitcoins

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WTF

Latham Green, Tuesday, 24 May 2011 18:36 (ten years ago) link

the next internet revolution??

http://www.weusecoins.com/

Latham Green, Wednesday, 25 May 2011 13:12 (ten years ago) link

I've heard a little about this, but don't know enough about the field to know if it's going to replace all known forms of currency or just crash and burn immediately. Anyone?

emil.y, Wednesday, 25 May 2011 13:31 (ten years ago) link

it seems like it could either be really big or end up some obscure little hobby. But still they do have potential for allot of illeagal use so I wonder if they will just be made illegal

Latham Green, Wednesday, 25 May 2011 13:34 (ten years ago) link

Seems like it could be a big target for hackers? The distributed nature of the system (there's no central server repository for bitcoins) could help or hinder when it comes to security.

got a whole lotta gloves (snoball), Wednesday, 25 May 2011 13:39 (ten years ago) link

I like this for the potential to melt the brains of libertarians. On the one hand, no centralising authority, on the other it is the ultimate "fiat currency"

American Fear of Pranksterism (Ed), Wednesday, 25 May 2011 13:55 (ten years ago) link

I guess if you consider the laws of math to be the fiat-inator

Latham Green, Wednesday, 25 May 2011 13:56 (ten years ago) link

I bet there is a thousand post developer forum thread somewhere on whether it should be backed by gold or not.

American Fear of Pranksterism (Ed), Wednesday, 25 May 2011 13:57 (ten years ago) link

Maybe not seeing it was started by Finns, but I'd like to think so.

American Fear of Pranksterism (Ed), Wednesday, 25 May 2011 13:58 (ten years ago) link

I think it is backed by World of Warcraft gold

Latham Green, Wednesday, 25 May 2011 13:58 (ten years ago) link

this is interesting

cop a cute abdomen (gbx), Wednesday, 25 May 2011 14:07 (ten years ago) link

I heard about this through the ~future of the internet~ thread. It is indeed interesting, but I still feel too unskooled in this matter to form an opinion about it.

I always think with things like this. If it can be invented, it can be hacked/messed about with. What makes this system so bulletproof?

...wow! (Le Bateau Ivre), Wednesday, 25 May 2011 14:09 (ten years ago) link

Each Bitcoin has a unique serial number that's encrypted. If someone can break that encryption, they'd be able to generate counterfeit Bitcoins and the whole system would go down. So although there's no single server to hack, there's still a single point of vulnerability.

got a whole lotta gloves (snoball), Wednesday, 25 May 2011 14:15 (ten years ago) link

I think the bulletproofness is the encryption - for example the Enigma machine would have worked and not been broken if the people who used it hadn't had sloppy practices. In thi scase there cannot be sloppy practices because the practitioners are computers

Latham Green, Wednesday, 25 May 2011 14:25 (ten years ago) link

Does anyone else imagine bitcoins looking like this?

http://cache.gawkerassets.com/assets/images/9/2010/12/mario_coins.jpg

I know they don't really have a physical form.

free inappropriate education (Abbbottt), Wednesday, 25 May 2011 14:50 (ten years ago) link

There's a not-bad overview of some potential problems here http://www.quora.com/Is-the-cryptocurrency-Bitcoin-a-good-idea

stet, Wednesday, 25 May 2011 14:53 (ten years ago) link

http://www.sonicgear.org/ArcadeMachines/ArcadeCoin.jpg

am0n, Wednesday, 25 May 2011 14:56 (ten years ago) link

yeah it seems like there are indeed million post forums on whether its a good idea or not but in the end time will tell. I have started mining some myself because its fun

Latham Green, Wednesday, 25 May 2011 14:59 (ten years ago) link

Are you using a decent set of graphics cards? Mining on yr PC is going to cost way more in power than you'll make.

stet, Wednesday, 25 May 2011 15:01 (ten years ago) link

oh I've got that all figured out! real genius...

Latham Green, Wednesday, 25 May 2011 15:03 (ten years ago) link

anyone here buy any acid w/ bitcoins yet

http://www.wired.com/threatlevel/2011/06/silkroad/

puff puff post (uh oh I'm having a fantasy), Thursday, 2 June 2011 16:38 (ten years ago) link

who is going to be the first major musician who charges bitcoins for a legal download

puff puff post (uh oh I'm having a fantasy), Thursday, 2 June 2011 16:43 (ten years ago) link

rush?

iatee, Thursday, 2 June 2011 16:43 (ten years ago) link

I believe in bitcoins

puff puff post (uh oh I'm having a fantasy), Thursday, 2 June 2011 16:46 (ten years ago) link

At the moment bitcoin value/rarity is supressed by spare computing cycles, which I'd rather see searching for ETs, folding proteins, or predicting climate change impacts (all distributed screensaver applications).

If we're going to have a currency backed by electricity, I'd suggest international trade settlement backed by aluminum. Its a useful material, ubitquitous in industry, and as bauxite is abundant and the major production cost is electricity for electrolytic smelting, its as close to frozen electricity as exists.

In either case, no nation/currency union would need acquire enough to back the entire economy, only enough to settle external trade imbalances and deter covert taxation through inflation.

美国有很多丰富的傻瓜 (Sanpaku), Thursday, 2 June 2011 17:24 (ten years ago) link

I have almost generated a bit dime so far - its taking forever

Latham Green, Wednesday, 8 June 2011 13:17 (ten years ago) link

At the moment bitcoin value/rarity is supressed by spare computing cycles, which I'd rather see searching for ETs, folding proteins, or predicting climate change impacts (all distributed screensaver applications).

all those screensaver things are outreach tools rather than scientifically useful fwiw.

caek, Wednesday, 8 June 2011 13:17 (ten years ago) link

wow the value has gone way up lately - it was just 7$ a few weeks ago now like 28$!
at mtgox.com

bubble?

Latham Green, Wednesday, 8 June 2011 13:20 (ten years ago) link

(in response to Abbott's earlier post)

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:28 (ten years ago) link

(The answer being, yes they do look like that something from a Soviet era Russian Mario knock-off)

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:29 (ten years ago) link

little broken link icons?

Latham Green, Wednesday, 8 June 2011 13:29 (ten years ago) link

thinking this is going to be a HUGE deal for online gambling, since it's essentially non-taxable right?

frogbs, Wednesday, 8 June 2011 13:31 (ten years ago) link

little broken link icons?

That would be a Zelda knock-off...

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:34 (ten years ago) link

I think the consensus seems to be that they will be made illegal at some point- so git 'em now!

Latham Green, Wednesday, 8 June 2011 13:35 (ten years ago) link

1 - costs more electricity to generate than they're worth, which will only get worse because they're progressively halving Bitcoin production over time to top out at a maximum number of Bitcoins in 4 years.

2 - someone will crack this before then anyway (either by cracking the encryption method itself, or more likely by finding a weakness somewhere else in the system).

3 - banks will find a way to levy charges on turning Bitcoins back into real money.

4 - governments will find a way to tax this if it ever looks like being big.

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:40 (ten years ago) link

"Tell me boy, is that the Chattanooga choo-choo an overheating GPU?"
"Yes I've got twenty nine."
"Well give me a Bitcoin dime."

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:45 (ten years ago) link

Sometimes, when I see the price of a bitcoin today, I regret being broke as hell a month ago when I learned about them. But yeah, I probably agree with snoball in that this thing is bound to fail at some point. Also, I'm still having a hard time with this currency that can't buy anything (except drugs).
Also, is it just me or is it impossible to explain bitcoins to people without sounding kind of silly?

Jibe, Wednesday, 8 June 2011 13:48 (ten years ago) link

Seems that the only way to have made any money out of this was to be involved pretty much at the start.

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:51 (ten years ago) link

without sounding kind of silly?

There's a real 'Jack & The Beanstalk' 'magic beans' feel to the whole thing, even more so than 'real' money ('I promise to pay the bearer on demand the sum of £5').

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:56 (ten years ago) link

You could have made money by buying some when this thread was started, they were around 7-8$ iirc.

Jibe, Wednesday, 8 June 2011 13:58 (ten years ago) link

I think the question is 'how many people who would be immediately interested in buying some of these upon learning that they exist have already learned that they exist?'

iatee, Wednesday, 8 June 2011 14:04 (ten years ago) link

like yeah on the one hand obv it's a bubble but crazy libertarian types don't have that many facebook friends, so I dunno, I'd buy some and keep em for a week

iatee, Wednesday, 8 June 2011 14:06 (ten years ago) link

(if it were simple and I had money)

iatee, Wednesday, 8 June 2011 14:07 (ten years ago) link

Aaand it's crossed the 30$ barrier on MtGox. Dammit, why didn't I even have 20 bucks to invest in this shit ^^

Jibe, Wednesday, 8 June 2011 14:13 (ten years ago) link

can you short bitcoins

☂ (max), Wednesday, 8 June 2011 14:14 (ten years ago) link

lol

caek, Wednesday, 8 June 2011 14:14 (ten years ago) link

http://forum.bitcoin.org/index.php?board=1.0

this is gonna be the place to be during the crash

iatee, Wednesday, 8 June 2011 14:17 (ten years ago) link

since this thread was started I have got .07 btc - I can already see though that its getting harder to generate the coins

Latham Green, Wednesday, 8 June 2011 14:37 (ten years ago) link

catering to people who have enough money to fool around with bitcoin investing seems like a way to rake in some of their MSM (Main Stream Money).

A is for (Aimless), Wednesday, 18 March 2020 23:48 (one year ago) link

I bought a bitcoin back when they were cheap but I'm not even sure how to sell it or if my paper wallet still works. I probably should have tried to sell it a long time ago.

The fillyjonk who believed in pandemics (Lily Dale), Thursday, 19 March 2020 01:26 (one year ago) link

two months pass...

more on my good friend, noted philanthropist gerald cotten

The Quadriga cryptocurrency exchange that saw millions of dollars disappear just as its founder died was a "fraud" and Ponzi scheme, according to the Ontario Securities Commission.

The regulator said Thursday that Vancouver-based Quadriga's late founder Gerald Cotten committed fraud by opening accounts under aliases and crediting himself with fictitious currency and crypto asset balances, which he traded with unsuspecting clients.

Cotten, the OSC said in a new report, ran into a shortfall in assets available to satisfy client withdrawals when the price of the crypto assets changed. He started running a Ponzi scheme that covered the shortfall with other clients' deposits, the agency determined.

https://www.cbc.ca/news/business/osc-quadriga-gerald-cotten-1.5607990

k*r*n koltrane (Simon H.), Friday, 12 June 2020 16:29 (one year ago) link

nine months pass...

are you ready for an imaginary stock market for celebrities that trades in character-specific cryptocurrency that is (and i cannot stress this enough) totally not a scam?
https://bitclout.com/

What can happen when you give people the ability to speculate on a person’s reputation? We can’t know for sure, but one of the features that has emerged is what we call “buy and retweet.” Ordinarily, retweeting someone gives you nothing. If that person becomes a superstar because you boosted them, you’ll be lucky if they even remember your name in a few years. In contrast, with BitClout you can buy someone’s coin and then retweet them,
which makes it so that you’re not only along for the ride financially if they blow up, but you also get bragging rights. Imagine the difference between being able to say “I retweeted her early on” vs being able to say “I bought her coin when it was $0.50 and now it’s $500-- and by the way I’ve done this hundreds of times, and I can prove it because my track record is on the blockchain.” The latter is clearly a very different game. Moreover, it’s not just a famous person’s game. If you know someone with a lot of clout, or if you know someone who knows someone, you can buy a coin and send it to someone else so that they can buy and retweet them. And thus the incentives go many layers deep. The interesting thing about this mechanic is that it wasn’t even something consciously designed into the product. It exists as an “emergent” phenomenon off of the core creator coin mechanic. What other dynamics could exist that we haven’t yet thought of?

really makes you think and by think i mean hemorrhage blood

G.A.G.S. (Gophers Against Getting Stuffed) (forksclovetofu), Wednesday, 7 April 2021 18:01 (three months ago) link

One thing I've never really understood about bitcoin mining: what are these "complex hashing puzzles" that are all ostensibly unique and how are they derived in order to ultimately be solved by the mining process? Does the solving of these puzzles have some sort of ancillary benefit beyond creating unique tokens... (e.g. mathematicians/scientists)? Is there a difference between the type of puzzles that are solved by various bitcoin marketplaces? Is an Ethereum puzzle the same sort of hash problem as a Dogecoin puzzle or whatever? Or are they all competing for the same resource of difficult hash puzzles? What prevents one vendor from tokenizing the result of the same puzzle another has solved?

reggae mike love (polyphonic), Wednesday, 7 April 2021 18:15 (three months ago) link

I don't know the other currencies, but at least for bitcoin, it's not really a variety of puzzles. It's just the same puzzle over and over again with different inputs, and increasing level of difficulty. The inputs to the puzzle are the new transactions that people wish to transact and the history of previous transactions. So the puzzle is kind of an inexhaustible resource. The solutions to these puzzles are of no interest to anyone outside the realm of bitcoin.

o. nate, Thursday, 8 April 2021 00:33 (three months ago) link

sigh

the “world” is going to have a layer of speculation over everything soon, right? A value on absolutely everything? This feels like an onslaught, completely unregulated

Zach_TBD (Karl Malone), Saturday, 10 April 2021 13:48 (three months ago) link

one month passes...

Thank you, President Xi.

Joe Bombin (milo z), Monday, 24 May 2021 20:09 (two months ago) link

I saw a Tesla with LOVE BTC vanity plates yesterday, bet it’s been a rough fortnight for them.

Joe Bombin (milo z), Monday, 24 May 2021 20:09 (two months ago) link

Happy 10th anniversary, this thread.

Mr. Snrub, Monday, 24 May 2021 20:12 (two months ago) link

Heh, good catch.

pomenitul, Monday, 24 May 2021 20:13 (two months ago) link

Opening post is still otm.

pomenitul, Monday, 24 May 2021 20:13 (two months ago) link

watching the crypto market collapse in real time is literally so joyous https://t.co/vlX9tXo3fe

— red instead redemption (@khatange) May 22, 2021

chihuahuau, Monday, 24 May 2021 22:45 (two months ago) link

Schadenfreude tempered by the fact that everyone in on Bitcoin before September of last year or so is still making out like a bandit.

Joe Bombin (milo z), Monday, 24 May 2021 23:32 (two months ago) link

i have to admit that i would love to see bitcoin be a tremendous success in 2014 and all these seemingly deluded nerds walk away with massive payouts and all the internet intelligentsia forced to admit how wrong and cynical they were
"it was a gold rush and we missed it... why couldn't i just BELIEVE"
― this harmless group of nerds and the women that love them (forksclovetofu), Thursday, January 9, 2014

it would be so fun
― this harmless group of nerds and the women that love them (forksclovetofu), Thursday, January 9, 2014


i would like to apologize, turns out that this was not fun at all

Draymond is "Mr Dumpy" (forksclovetofu), Tuesday, 25 May 2021 03:00 (two months ago) link

Sucks to think about the value of the bitcoins I spent on DMT/assorted psychedelics.

Joe Bombin (milo z), Tuesday, 25 May 2021 04:29 (two months ago) link

I could buy a house. Not a great house but a house.

Joe Bombin (milo z), Tuesday, 25 May 2021 04:29 (two months ago) link

actually I guess that would have been true ten days ago, now I could buy most of a bad condo.

Joe Bombin (milo z), Tuesday, 25 May 2021 04:30 (two months ago) link

On another thread I told the tragic story of how I thought I had a bitcoin all saved up and found out only this year, when I went to sell it, that the friend who bought it for me accidentally spent it back in 2014. Wouldn't have been enough to buy a house, but it could have covered my next year of living expenses now that I've been laid off.

Lily Dale, Tuesday, 25 May 2021 04:40 (two months ago) link

Ooof. That’s brutal.

Joe Bombin (milo z), Tuesday, 25 May 2021 04:46 (two months ago) link

I’ve decided that I’m going to join @deeznutscoin_ and what they stand for and I’m going ALL in on DeezNuts! pic.twitter.com/KXBcWoioYi

— AB (@AB84) June 2, 2021

Draymond is "Mr Dumpy" (forksclovetofu), Wednesday, 2 June 2021 18:48 (two months ago) link

I never regret not buying any crypto, and I was certainly in a position to buy lots of it when it was a whole lot cheaper

intern at pelican brief consulting (Simon H.), Wednesday, 2 June 2021 19:06 (two months ago) link

there's a bit in Feels Good Man where a guy buys a picture of homer simpson that's been mspainted over for $60000. he later flipped it for a profit.

wasdnuos (abanana), Wednesday, 2 June 2021 19:49 (two months ago) link

please don't ask why but I just watched Ron Paul speak at a Bitcoin conference and it was one of the weirdest, most rambling speeches I've ever seen. dude sounded like he pregamed with two pints of gravel and went 20 minutes over his slot rambling about "cultural marxism" and why we need to be compassionate but also punish anyone who fucks up in life and also seemed to advocate for bringing back prohibition? everyone was buried in their phones and the only applause line he got was when he said the Coronavirus was "made for entertainment purposes". coincidentally not a single masked person in the crowd

frogbs, Friday, 4 June 2021 14:29 (one month ago) link

OK, so I don't know much about this bullshit, just enough to stay away, but I just saw some CNN story that claimed

US investigators have recovered millions of dollars in cryptocurrency paid in ransom to hackers whose attack prompted the shutdown of the key East Coast pipeline last month, according to people briefed on the matter.
Not just tracked down, but recovered. I thought the whole point of this bullshit was to be untraceable or under the table shit like that, but not only did the pipeline people apparently follow some sort of secret instructions that lead the FBI to a bitcoin wallet (I assume it looks like a kangaroo pouch, right?), but then *got most of the money back.* Like, how?

Josh in Chicago, Monday, 7 June 2021 19:26 (one month ago) link

Bitcoin is pretty traceable IIRC - there was a separate system for laundering Bitcoin when buying drugs on the darknet markets when they were advertising openly on Reddit.

Joe Bombin (milo z), Monday, 7 June 2021 19:29 (one month ago) link

right in a sense it's actually the *most* traceable currency out there, every single transaction is public. still, I'm very curious what exactly "recovered" means here

frogbs, Monday, 7 June 2021 19:30 (one month ago) link

havent read the story but probably they found some of the private keys at some point over the course of the investigation

intern at pelican brief consulting (Simon H.), Monday, 7 June 2021 19:31 (one month ago) link

US investigators have recovered millions of dollars in cryptocurrency paid in ransom to hackers whose attack prompted the shutdown of the key East Coast pipeline last month, according to people briefed on the matter.

The Justice Department on Monday is expected to announce details of the operation led by the FBI with the cooperation of the Colonial Pipeline operator, the people briefed on the matter said.
The ransom recovery is a rare outcome for a company that has fallen victim to a debilitating cyberattack in the booming criminal business of ransomware.

Colonial Pipeline Co. CEO Joseph Blount told The Wall Street Journal In an interview published last month that the company complied with the $4.4 million ransom demand because officials didn't know the extent of the intrusion by hackers and how long it would take to restore operations.

But behind the scenes, the company had taken early steps to notify the FBI and followed instructions that helped investigators track the payment to a cryptocurrency wallet used by the hackers, believed to be based in Russia. US officials have linked the Colonial attack to a criminal hacking group known as Darkside that is said to share its malware tools with other criminal hackers. A spokesman for the Justice Department declined to comment, and CNN has reached out to the Colonial Pipeline operator.

CNN previously reported that US officials were looking for any possible holes in the hackers' operational or personal security in an effort to identify the actors responsible -- specifically monitoring for any leads that might emerge out of the way they move their money, one of the sources familiar with the effort said.

The Biden administration has zeroed in on the less regulated architecture of cryptocurrency payments which allows for greater anonymity as it ramps up its efforts to disrupt the growing and increasingly destructive ransomware attacks, following two major incidents on critical infrastructure.

"The misuse of cryptocurrency is a massive enabler here," Deputy National Security Advisor Anne Neuberger told CNN. "That's the way folks get the money out of it. On the rise of anonymity and enhancing cryptocurrencies, the rise of mixer services that essentially launder funds."

"Individual companies feel under pressure - particularly if they haven't done the cybersecurity work -- to pay off the ransom and move on," Neuberger added. "But in the long-term, that's what drives the ongoing ransom (attacks). The more folks get paid the more it drives bigger and bigger ransoms and more and more potential disruption."

While the Biden administration has made clear it needs help from private companies to stem the recent wave of ransomware attacks, federal agencies are adept at tracing currency used to pay ransomware groups, CNN previously reported.

But the government's ability to effectively do so in response to a ransomware attack is very "situationally dependent," two sources said last week.

One of the sources noted that helping recover money paid to ransomware actors is certainly an area where the US government can provide assistance but noted that success varies dramatically and largely depends on whether there are holes in the attackers' system that can be identified and exploited.

In some cases, US officials can find the ransomware operators and "own" their network within hours of an attack, one of the sources explained, noting that allows relevant agencies to monitor the actor's communications and potentially identify additional key players in the group responsible.

When ransomware actors are more careful with their operational security, including in how they move money, disrupting their networks or tracing the currency becomes more complicated, the sources added.
"It's really a mixed bag," they told CNN, referring to the varying degrees of sophistication demonstrated by groups involved in these attacks.

One of the sources also cautioned against putting too much stock in US government actions, telling CNN that the unique circumstances around each attack and level of detail needed to effectively take action against these groups is part of the reason there is "no silver bullet" when it comes to countering ransomware attacks.

"It will take improved defenses, breaking up the profitability of ransomware and directed action on the attackers to make this stop," the source added, making clear that disrupting and tracing cryptocurrency payments is only one part of the equation.

That sentiment has been echoed by cybersecurity experts who agree that ransomware actors use cryptocurrency to launder their transactions.
"In the Bitcoin era, laundering money is something that any nerd can do. You don't need a big organized crime apparatus anymore," according to Alex Stamos, former Facebook chief security officer, co-founder Krebs Stamos Group.

"The only way we're going to be able to strike back against that as an entire society is by making it illegal ... I do think we have to outlaw payments," he added. "That is going to be really tough. The first companies to get hit once it's illegal to pay, they're going to be in a very tough spot. And we're going to see a lot of pain and suffering."

Josh in Chicago, Monday, 7 June 2021 19:40 (one month ago) link

yeah that's pretty vague idk

intern at pelican brief consulting (Simon H.), Monday, 7 June 2021 19:47 (one month ago) link

If you negotiate with terrorists the government should keep any money recovered.

Joe Bombin (milo z), Monday, 7 June 2021 19:50 (one month ago) link

Sounds like they hacked the hackers and stole their private keys.

o. nate, Monday, 7 June 2021 19:57 (one month ago) link

U.S. law enforcement seized almost all of the Bitcoin paid to hackers In the Colonial Pipeline attack, but because the value of Bitcoin crashed so much in past weeks, it now only represents about half what the company originally paid for it https://t.co/YeXaCtc6Tm

— Christopher Mims (@mims) June 7, 2021

o. nate, Monday, 7 June 2021 19:58 (one month ago) link

More on the topic of trying to make all that computing power do something useful:

https://spectrum.ieee.org/energywise/computing/networks/making-blockchain-bitcoin-computing-more-useful

o. nate, Wednesday, 9 June 2021 19:07 (one month ago) link

More on law enforcement unleashing sting operations on unsuspecting crime rings:

https://www.washingtonpost.com/world/2021/06/08/fbi-app-arrests-australia-crime/

Law enforcement officials — some of whom Tuesday could barely contain their glee — announced they had arrested more than 800 people and gained an unprecedented understanding into the functioning of modern criminal networks that would keep fueling investigations long past the coordinated international raids that took place in recent days.

The effort was “one of the largest and most sophisticated law enforcement operations to date in the fight against encrypted criminal activities,” Jean-Philippe Lecouffe, the deputy executive director for operations of Europol, the agency that coordinates police activity among the 27 European Union countries, said in a news conference in The Hague.

For nearly three years, law enforcement officials have been virtually sitting in the back pocket of some of the world’s top alleged crime figures. Custom cellphones, bought on the black market and installed with the FBI-controlled platform, called Anom, circulated and grew in popularity among criminals as high-profile crime entities vouched for its integrity.

The FBI in the past has dismantled encrypted platforms used by criminals to communicate, and infiltrated others. This time, it decided to market an encrypted app of its own to target organized crime, drug trafficking and money laundering activities across the globe. The FBI effort was aided by a paid collaborator who had previously marketed other encrypted devices to members of the global criminal underworld.

A breakthrough came after Australian police met with the FBI in 2018 over a couple of beers, according to officials. The Australians then built a technical capability to access, decrypt and read communications on the FBI’s platform.

The users believed their Anom devices were secured by encryption. They were — but every message was also fed directly to law enforcement agents.

“Essentially, they have handcuffed each other by endorsing and trusting Anom and openly communicating on it — not knowing we were watching the entire time,” Australian Federal Police Commissioner Reece Kershaw said.

...

Officials said raids in those countries in recent days had impounded more than eight tons of cocaine, 22 tons of marijuana and hashish, two tons of methamphetamine and amphetamine, 250 firearms, 55 luxury vehicles and more than $48 million in cash and cryptocurrencies.

Josh in Chicago, Wednesday, 9 June 2021 19:31 (one month ago) link

a buddy of mine who's just launched public sale of his startup's "native token," and a trading platform/app.

https://www.morningstar.com/news/globe-newswire/8255815/anatha-announces-its-accessible-equitable-public-token-sale-accepting-fiat-and-crypto

i posted these links in the silicon valley optimism thread (as the project's goals are peak tech optimism), but i'd like to open discussion about it here to any ilxors interested, since i can't find any good threads elsewhere online.

one question i have is about the value proposition. their model is that "value generated by people’s activity on our network flows back to them," but what are the value-generating activities? i couldn't find a good explanation on their website and i'm not well versed enough in this side of the crypto business to know based on the available info.

https://anatha.io/blog/token-sale

davey, Thursday, 17 June 2021 22:05 (one month ago) link

three weeks pass...

looking forward to ten years in the future where the presumption that cryptocurrency is totally legit is a base presumption with everyone under the age of thirty but no one over the age of fifty

nah

longtime caller, first time listener (man alive), Thursday, 8 July 2021 18:57 (three weeks ago) link

see you in ten years

Yours in Sorrow, A Schoolboy: (forksclovetofu), Friday, 9 July 2021 13:41 (three weeks ago) link

see you in ten years

fun things to say to the cashier instead of "have a good one"

Z_TBD (Karl Malone), Friday, 9 July 2021 16:42 (three weeks ago) link

PROTIP: maintain eye contact

Yours in Sorrow, A Schoolboy: (forksclovetofu), Saturday, 10 July 2021 02:32 (three weeks ago) link

lol

well of course you have to maintain eye contact when you make decadal predictions

Z_TBD (Karl Malone), Saturday, 10 July 2021 03:16 (three weeks ago) link

it is considered very poor form to look at your feet as you describe what will happen 20 years hence. you have to stare directly at the cashier so they can't tell if it's your fault or if you're supposed to fix it or what

Z_TBD (Karl Malone), Saturday, 10 July 2021 03:18 (three weeks ago) link

I wonder if the natural ponzi scheme can last another ten years.

Van Horn Street, Saturday, 10 July 2021 03:39 (three weeks ago) link

Only if we perfect nuclear fusion in that timeframe.

I’ve been wondering if anyone has done a prediction on when the energy cost becomes higher than the value of the work done, because at that point the wheels fall off instantly.

American Fear of Scampos (Ed), Saturday, 10 July 2021 03:44 (three weeks ago) link

that's just mortal kombat

Z_TBD (Karl Malone), Saturday, 10 July 2021 04:36 (three weeks ago) link

or the matrix. probably a kombo of the two

Z_TBD (Karl Malone), Saturday, 10 July 2021 04:36 (three weeks ago) link

😳

NEW: First look at Spike Lee's Bitcoin commercial

“Old money is not going to pick us up – it pushes us down, exploits, and systematically oppresses. The digital rebellion is here. Old money is OUT, new money is IN." pic.twitter.com/eD1nCenXBX

— Yano (@JasonYanowitz) July 14, 2021

, Friday, 16 July 2021 22:01 (two weeks ago) link


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