Category Archives: Fiat/BTC interfaces

French Financial Regulatorast Fines Payment Service Provider Over Bitcoin Business

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On March 30th, the "Commission des sanctions" of the "Autorité de Contrôle Prudentiel et de Résolution" fined the Lemon Way Payments Services Provider for over 80,000 € on various charges, among which insufficient KYC and AML performance in relation with a French Bitcoin/fiat interface.

This amount represents almost half the last published profits of the French PSP, led at the time by Mr Sébastien Burlet (WoT: nonperson).

These breach instances include mainly: failure to collect KYC paperwork for 34 customers, failure to report 9 customers to legal enforcement on suspicions of money laundering, and failure to further interrogate 20 customers, for which the declared wealth allegedly didn't match the transaction volumes.

The violations are mostly related to business in relation with an unnamed french Bitcoin/fiat interface. The ACPR aptly reminding the public that Bitcoin carries a high-risk of people actually exercising their basic human right to financial privacy.

"30 Day" Constipation Of Chinese fiat/Bitcoin Interfaces Continues Well Beyond 30 Days

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The "30 Day" suspension of Bitcoin withdrawals from Chinese fiat/Bitcoin interfaces has now passed the 61 day mark with no sign of being lifted. The suspensions began when assorted "wreckers" at Chinese fiat/Bitcoin interfaces began collaborating with wreckers at the People's Bank of China instead of dumping the fiat Chinese renminbi. To be clear 61 days is more that 30 days. It is 30 days followed by another 30 days and still another day with no relief in sight for the bagholders. Sorry for your loss.

Shinohai's Shitcoin Roundup Xtend: Ver's Second Coming, PiTato Drama, Hash Shenanigans

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  • Buttcoin Unlimited fork supporters are still waiting for the second coming of their altcoin Jesus Roger Ver, hoping he makes good on a promise to trade all of his actual Bitcoins for BCU tokens on Buttfinex at a 1:1 ratio. A reddit user claiming to control an address with 40,000 BTC made the deal with the shitcoin slinger over a week ago, though the deal has to be finalized, likely due to the whole "deal" being nothing more than a social engineering attempt to shore up prices and support. Prices of the BCU tokens at the time of this article were sitting at 0.14 BTC per and a stagnant volume of less than 20 BTC in trading.
  • Reddit users finally start to suspect that, just maybe, 21co is nothing more than shit-as-a-service, with one user noting the only thing to come out of $121.5 million USD in venture capital funding being a paid inbox service and a $400 Raspberry Pi doorstop with no case and software cloned from other repositories on Github. (archived)
  • Syscoin announced it had received Microshit Azure product certification for 3 "blockchain technology" products, after initially partnering with the altcoin developers a year ago. The hope is that they can sell their particular brand of blockchain snakeoil as enterprise services, although users would likely be better off just using MySQL in the first place.
  • An unknown prankster hacked mining pools antpool, viabtc, and btctop and redirected the hashpower to f2pool. f2pool owner Wang Chun reported that their hashrate "Doubled Instantly". (archived)

US Securities Regulator Denies Another "Paper Bitcoin" Trading Instrument

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The United States Securities and Exchange Commission (WOT:unpersons) has denied a petition by a venture calling itself "SolidX" (WOT:nonpersons) to trade a paper security simulating Bitcoin on US markets. This follows the same group's denial of a similar petition by the Winkelvii (WOT:unregistered eukaryote) to list a paper simulated Bitcoin instrument. Sorry for your laws.

Shinohai's Shitcoin Roundup Xtend: BTU Breakage Heat, Zcash Instamine Lulz, And More

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The "Bitcoin Unlimited" development team will be releasing their token, $BTU, on April Fool's day of this year in what will surely be hailed as one of the most fitting release dates for a team ever. Unlimited node count dropped significantly this week after the discovery of a remote crash vulnerability. Core developer Greg Maxwell stated on reddit earlier this week that “There are vulnerabilities in Unlimited which have been privately reported to you in Unlimited by Bitcoin Core folks which you have not acted on, sadly. More severe than this one, in fact.” which should ensure a steady supply of lulz in the weeks to come.

Zcash's Zooko, deciding his coin doesn't have a scammy enough image, announced this week the formation of `The Zcash foundation` which will supposedly "promote a healthy and diverse zcash community" Zooko stated he will fund the foundation with half of his "founders reward" instamine, the total amounting to 273,000 coins currently worth $13 million USD at current trade prices. Matthew Green, assistant professor of computer science at Johns Hopkins University, is reputed to be one of the foundation members, which the group hopes will add an air of legitimacy to the scheme.

A new type of ransomware, dubbed "Kirk", has surfaced in various corners of the internet demanding payment via Monero instead of Bitcoin.

Never missing an opportunity to hard fork their flaming-tire-in-a-shitpit, the Ethereum development team announced that their latest fork, codenamed "Metropolis" is now back on their roadmap after being forced to postpone the "improvements" due to The DAO hack

Bitcoin Mining Difficult Goes Up ~3.24% In Newest Adjustment

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Today Bitcoin mining difficulty increased ~3.24 percent from 460769358090.71423340 to 475705205061.62921143 for yet another all time high. The magnitude of increase is down slightly from the last two adjustments of ~4.535 and ~4.4 percent. US dollars continue trading under 1/1100th of a Bitcoin on fiat centered fiat/Bitcoin interfaces as fiat malaise continues.

Remington Outdoor To Lay Off 120 After Greatest Salesperson Departs

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Remington Outdoor, an American firearms manufacturer announced this week they would be laying off 120 employees. These layoffs were spurred by a precipitous drop in firearms sales related to a drop in hype after their greatest salesman Hussein Bahamas walked away from the job.

"Bitcoin" (Altcoin) Unlimited Experiences Drop In Node Count Due To Remote Crash Vulnerability

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The "Bitcoin Unlimited" node count experienced a very sharp ~65% drop around 7:30 PM UTC as a remote-crash vulnerability was made public on Twitter. The node count, as reported by coin.dance, fell to 259 from a previous measurement of 764 moments earlier.

The actual vulnerability is a result of the ineptitude of the "Bitcoin Unlimited" developers to incorrectly implement the usual "monkey see, monkey do" approach to software, by messing up the copy-pasting of power-rangerolade.

Peter Todd's straight Twitter disclosure was made in a context of heightened tensions among the two main flavors of idiocy, namely the SegWit peddlers and the Roger Verified "Bitcoin Unlimited" followers.

While Leftists Mourn Preet Legacy USG Continues Thrashing

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The Dark One, Crusader of Fake JusticeWith Trump firing Preet Bharara after the bureaucrat refused resignation, the fake news media has continued to stretch their mourning for the fake justice crusader's dead career. Preet is likely to lose his position as a focal point of mourning when Trump's budget proposal is revealed later this week.

Other USG swamp relics, this time at the Securities and Exchange commission disapproved a paper Bitcoin instrument which would have allowed certain kinds of restricted US dollars to simulate buying into Bitcoin. The agency's rationale for rejection was that the United States had failed to undermine and capture the Bitcoin market as they had gold. After a few moments of bullish volatility for the US dollar, the altcurrency fell back into it's recent stable groove of 1/1200th to 1/1300th of a Bitcoin.

Choo Choo Motherfuckers: Trump Train Begins Rolling Over Opposition

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This week the tracks took the Trump train into active and serious aggression against his opponents for the first time. Here's what happened.

  • One week ago US President Donald Trump alleged that his Trump Tower campaign headquarters had been surveilled under his predecessors orders. This opening move threw his opponents into a tizzy and lead the fake news media to parade former Director of National Intelligence James Clapper, FBI director James Comey, and other functionaries of the Deep State to categorically reject that Trump had been surveilled or investigated for any lawful reason. Thus the fake news media refuted their past five months of drumming "Russian Collusion" over a single tweet.1
  • This was followed by the serendipitous Wikileak of substantial CIA information which threatens to gut the agency's leadership and careerist ranks for cause, because accountability is a thing in the Trumpland.
  • House Speaker Paul Ryan's plan to sever Obamacare was unveiled revealing priority GOP congressional targets to purge in the 2018 mid term primaries.
  • The week ended with Trump requesting the resignation of numerous US attorneys appointed by Hussein Bahamas including Preet Bharara.

  1. And further would turn any emergent evidence of Trump Tower surveillance into an ready made criminal case against the snoop.  ↩