Today revelations by a whistle blower within the US National Oceanographic and Atmospheric Administration demonstrated that a key paper produced by the agency under the Hussein Bahamas administration which served as "motivation" during recent negotiations in Paris was plagued by fraudulent manipulation of facts (archived). The bogeyman of "climate change" has been held up by socialists of all flavors as a scourge demanding statal control of energy production and expenditures as an only supposed remedy.
Category Archives: Fiat/BTC interfaces
Death Cult Propagates Among Some Chinese Miners
As mentioned in Shinohai's latest shitcoin Roundup, a few single language Chinese miners have taken to expressing an unjustified degree of loyalty to yet another doomed anti-Bitcoin forking effort. In the same week the fork effort's defective client unintentionally fell out of consensus due to its inherent slop, Andrew Quentson (WOT:nonperson) published a purported "cosmetically corrected" interview with Jiang Zhuoer (WOT:nonperson) where among other things Zhuoer confesses to "SPV mining" while asserting to have 100 million dollars1 committed to destroying any actual Bitcoin network which remains after splitting his favored altcoin from Bitcoin.
If Zhuoer's intent actually corresponds to what the words printed in English mean,2 it represents a paltry counter to the deterrent presented by Mircea Popescu and other lords of the Most Serene Republic, which has thus far damped off earlier social engineering attempts to fork Bitcoin into something else before they could root.
Continued imprudence among mining pool operators suggests that a solution to the mining bug3 in order to disabuse certain activist factions of their imagined participation in Bitcoin. Importantly, recent efforts by the People's Bank of China to bring sanity to their local fiat/Bitcoin interfaces does not preclude future statal attempts to attack Bitcoin via the mining vector from the People's Republic of China. Sorry for your loss.
A mere 10,000 Bitcoins today, less tomorrow ↩
Such is the least of the curses handicapping the monophone single language speaker. ↩
Some solutions have been proposed to constrain the impact of the bug ↩
Shinohai's Saturday Shitcoin Roundup: "100 Million US dollars" And More!
Certain factions within the Chinese mining cartels threaten to spend $100 million USD1 to kill off any competition to Bitcoin Unlimited. The announcement was made by a previously unknown pool known as "BTC.TOP" which alleges to have 6.8% of global hashrate at time of this article.
Buttfinex users were elated that their "Hacker credit" token rose to a roughly 76 cent high, leaving some with hopes they might not get totally scammed after all. A twitter user by the name of "Bitcoin Nemesis" released an open letter on pastebin in which he claims to be the only person able to recover the missing funds, in addition promising the prosecution of the scammers running the show. The shadowy user further threatens to dump a list of "Bitcoin people" on the 15th "to law enforcement, intelligence agencies, to tax authorities."
Users of the scammer paradise btcjam reported withdraw errors on the platform earlier this week, leading redditards to speculate Mt. Gox 2.0 is imminent.
Venezuelan Fiat/Bitcoin interface SurBitcoin advised users to withdraw their balances after the company had it's account with Banesco shuttered for unknown reasons. No reason for the sudden halt in operations was given, though officials said they hoped to resume operations in roughly 2 weeks. Users were encouraged to use localbitcoins in the interim, which has been a popular platform in the South American communist haven to facilitate p2p trades.
The SEC published a notice “to solicit comments on the proposed rule change from interested persons” regarding Barry Shillbert's "Bitcoin Investment Trust (BIT)" fund, which he hopes to trade on the NYSE.
A figure notably denominated in the wrong kind of unit ↩
US University Endowments Net Loss In 2016
Universities in the United States experienced an average endowment return of negative 1.9 percent over 2016. Harvard University enjoyed a very bright and special negative 2 percent return. Across US universities the 10 year average annual return fell from 6.3% to 5% and the 5 year figure went from 9.8% to 5.4% compared to 2015 figures. Continued dismal energy and mining sector performance along with the activist led divestment fad likely contributed to the suffering of these fiat institutions. In the inflationary fiat monetary system exemplified by the US dollar, a positive ~7.4% growth rate is typically cited as a target for endowment growth to outrun the inflationary loss in purchasing power. Sorry for your loss.
Vessenes Gox Drama Continues
Peter Vessenes (WOT:nonperson) of the failed Vessenes' Phoundation and failed start up Coinlab continues to stir the drama pot as he holds out hope that a court just might award him a portion of the insolvent Gox's corpse. Such a move would naturally represent the first, last, and best revenue received by Vessenes venture which promised much and delivered nothing.
Under Pressure Domestic Margin Trading At Chinese fiat/Bitcoin Interfaces Folding
Following pressure from the "People's" Bank of China, the major Chinese fiat/Bitcoin interfaces have brought an end to margin trading for domestic Chinese customers. Further fiat side interference with fiat/Bitcoin interfaces is expected to continue or accelerate over 2017.
fiat/Bitcoin Interfaces Continue Reporting Upwards Volatility, March to Magenta Continues
So far 2017 is continuing the recent upwards trend in prices reported by fiat/Bitcoin interfaces passing a number of milestones today:
While fiat/Bitcoin interface insolvency remains a reality and connections to reality on the fiat end generally seem to be loose, much has changed since this price level was reported. Perhaps most notably in the mind of buyers, concerted social engineering efforts to undermine Bitcoin variously named XTCoin, ClassicCoin, Unlimited, and Segregated Witness have all failed, laughably so.3
Still, tomorrow any or all of these fiat emphasized fiat/Bitcoin interfaces could offer nothing for your Bitcoins while demanding you deliver the entire whole and undivided transcendental idea of the color magenta4 to them.
"volume weighted" price, strong lead by China and over 1050 Euros across the board ↩
Similar situation, above 1100 dollars with the exception of BTC-E ↩
As opposed to seriously so. They never made it that far against entrenched resistance because Bitcoin is a hard thing. ↩
In the only way that matters, that impossible way which would deny everyone else both magenta and the idea of magenta. ↩
Shinohai's 2016 End Of The Year Shitcoin Roundup Xtend (TM)(R)
Bitfinex ends the year by a plague of bugs that cause balances to display improperly in their UI, possibly the result of using tokens to make users believe they actually own Bitcoin.
Coinbase has reportedly suffered a number of payment failures due to their use of Gavin Andresen's BIP70 implementation. The security researcher who discovered the bug presented a complicated workaround which could be avoided by ignoring Coinbase altogether and paying merchants from Bitcoin wallets one controls the private keys to.
La Superintendencia de Sociedades, a regulatory agency in Columbia, has declared Bitcoin illegal and says that the peso remains the only valid currency for any transaction. The Banco de la República has also stated that they are the only institution that can issue any form of currency.
A Scottish altcoiner named David Low, oblivious to the failure of Auroracoin, is certain his invention of Scotcoin will bring about independence from their Limey overlords. Mr Low, who plans on offering his altcorn to the Scottish government, has said new users can claim 1000 coins for free after which they may purchase more at the low, low price of £1.65 per thousand.
BTC38 Does Buterin Inspired "Rollback" After API Keys Compromised
Chinese altcoin exchange BTC38 has reportedly suffered an attack that resulted in a 1.5 million RMB (Appx. $220,000 USD) Sorry For Your Loss.
A post on 8btc.com stated:
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”The hack comes on the heels of an attack earlier this year, in which BTC38's API keys were compromised, resulting in the exchange taking a lesson from the Vitalik Buterin playbook and "rolling back" trades. A security review was announced at that time time which apparently did little to prevent the latest breach. The exchange assures users that this time, however, the loss of hot wallet funds would not impact any customer balances.
Chinese Altcoin Exchange BTC38 Serves 1.5 Million RMB Of Your Loss
Chinese altcoin exchange BTC38 has reportedly suffered an attack that resulted in a 1.5 million RMB (Appx. $220,000 USD) Sorry For Your Loss.
A post on 8btc.com stated:
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
The hack comes on the heels of an attack earlier this year, in which BTC38's API keys were compromised, resulting in the exchange taking a lesson from the Vitalik Buterin playbook and "rolling back" trades. A security review was announced at that time time which apparently did little to prevent the latest breach. The exchange assures users that this time, however, the loss of hot wallet funds would not impact any customer balances.