Category Archives: Fiat/BTC interfaces

Shinohai's Shitcoin Roundup Xtend: Bitfinex's Token Addiction, Transaction "Acceleration", and itBit Rounding Bug

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Bitfinex, hoping to offer it's userbase more scam tokens to choose from, added cryptocurrency Dash back to it's roster against USD and BTC trading pairs. Bitfinex added the coin in 2014, only to remove it in August of the following year due to low trade volumes. Dash rose to the #3 spot on coinmarketcap.com with a nearly $300 million USD market cap, though price was down -9.04% in the past 24 hours of trading.

BTC.com mining pool, advocates of the Bitcoin Unlimited fork, started offering a new service that allows users to "accelerate" their transactions on the network by paying a fee using a credit card. Pools mining with the Unlimited software claim that blocks are "full" and that an unsafe hard fork is necessary while consistently mining empty blocks.

A hacker known as 4lemon discovered a flaw on itBit exchange that allowed users to send funds that didn't exist from one account to another due to a rounding bug. The user demonstrated he could send 0.000000005 XBT (Less than the trade minimum of 0.00000001) without triggering any sort of error in itBit's trade engine, resulting in SFYL.

Bitcoin Network Mining Difficulty Up Yet Again To 460769358090.71423340 For New All Time High

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The Bitcoin network mining difficulty has risen to 460769358090.71423340 from 440779902286.58917236 in a change of ~4.535 percent. This is in line with last period's rise of ~4.4 percent. Meanwhile fiat/Bitcoin interfaces continue to steadily report record malaise on the fiat side. Reported prices continue to be near or below the 2013 MtGox record low for the US dollar.

Fiat Currencies Appear To Enter Period Of Sustained Malaise

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The thrashing that fiat currencies have taken at fiat/Bitcoin interfaces so far in 2017 continues. The US dollar and the endangered Euro continue trading under 1/1000th of a Bitcoin on fiat emphasized interfaces. Further strong signal from the fiat side bearish to itself is possible after March 11th when the US Securities and Exchange Commission is likely to approve, either by action or inaction, a new "paper"1 Bitcoin linked trading vehicle.

  1. i.e. not actually Bitcoin  ↩

Haoles At Coinbase Bail On Hawaii

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The Haoles at Coinbase announced earlier today that they will be suspending operations in the state of Hawaii indefinitely. An email sent to customers in the Aloha state informed them that "The Hawaii Division of Financial Institutions has recently communicated regulatory policies which will render continued Coinbase operations in Hawaii impractical. " Customers are being given the usual 30 day period to either transfer "their" Bitcoin to another address, or sell for fiat using the company's exchange. No word was available if or when services would resume there in the future. Sorry for your laws

US President Trump Hosts Press Conference And Reviews Action Packed First Month

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United States President Donald Trump held his first solo press conference on the job and offered a comprehensive review of his action packed first month in office. Trump promised further action in the coming weeks as he celebrated a busy first month in spite of the fake news media, hostile career bureaucrats, and a slate of department secretaries delayed by an obstructionist legislature. A transcript of the press conference is presented below: Continue reading →

Coindesk: Bitcoin Price Malaise! (As US Dollar Continues To Trade Under 0.001 BTC)

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Coindesk1 today gave the exciting title

"Crypto Traders Flock to Altcoins Amid Bitcoin Price Malaise"

to a mundane piece whose only actual mentions of fiat/Bitcoin interface reported price concerns continued price stability. With the value of the United States dollar continuing to be reported under 0.001 BTC for much of this young year, all malaise seems to be accumulating on the fiat side.

  1. A fake news operation funded by Barry Silbert  ↩

Internet Transit Provider Cogent Communications Blocking Pirate Sites

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United States based Internet "backbone" provider Cogent Communications is blocking traffic to ip addresses associated with "pirate" websites according to a report by TorrentFreak (archived). This block is keeping subscribers of numerous internet service providers that peer with Cogent from accessing these sites.

PBOC Coordinates Action Among Chinese fiat/Bitcoin Interfaces Again: Anti-Money Laundering Being Pushed

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The People's Bank of China has again coordinated with a number of Chinese fiat/Bitcoin interfaces to implement new regulatory requirements. This time anti-money laundering suggestions have lead to 30 day suspensions of Bitcoin withdrawals at Huboi and OKCoin while they explore their compliance. Withdrawals of legacy fiat currency and deposits remain available at these interfaces. Other measure being implemented across Chinese fiat/Bitcoin interfaces involve an end to zero fee trading.

The continued interest by the People's Republic's central bank towards Bitcoin this year along with the surprise emergence of Chinese monophone pool operators from nowhere with allegiance to ongoing network coup attempts demonstrates an increasing amount of statal aggression by China towards Bitcoin.

Socialist Seek To Replace Socialist Zuckerberg On Facebook Board For Insufficient Socialism

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A minority group of Facebook shareholders are organizing an effort to replace socialist Mark Zuckerberg (WOT:nonperson) as Chairman of the board at the firm. The coup organized by "consumer watchdog" SumOfUs claims that an "independent" chair would:

"oversee the executives of the company, improve corporate governance, and set a more accountable, pro-shareholder agenda."

SumOfUs describes itself as an organization:

"Fighting for people over profits"

Which raises the serious question of what they imagine a "pro-shareholder" agenda to be.

This goes to show that even a sworn friend of socialism like Mark Zuckerberg who presides over one of their favorite cesspools is in reality far less protected from the activists than those who deny the leftists their support, sympathy, and proximity. This coup seems unlikely to forcefully unseat Zuckerberg from the Facebook chairmanship unless he chooses to step down, but it highlights the fact that when dealing with leftists, you can not possibly pay your enemy enough to love you. So long as you have and they have not, you will always be their enemy.

Police One Forum Hacked In 2015, Users Notified Now

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Police One, a forum frequented by members of US Federal and State "Law Enforcement" agencies, confirmed today that 715,000 of member accounts have gone up for sale on the deep web after a breach that occurred in 2015. The database contains usernames, password hashed with every hacker's favorite md5, email addresses, dates of birth, and other miscellaneous data for the bargain sum of 0.4 BTC. Forum officials said they were notifying members of the hack so they could reset passwords, although this will do little to prevent dedicated attackers from future attacks.