What do you guys think about the post on bitcoin about tradehill not working with Internet archive CU any more just days after they announced the move. Also it sounds like they are also suspending the trading of bitcoins for now. How if at all will this effect the market?
4 lost bitcoin from 2011 help!! I have a trail but not a big enough brain to follow it. Reward if found.
I am an early miner (megahash days) using 2 GPUs. I mined for a while stacked up a few coins. I never given any away or bought anything with them but for some reason I transferred 4 BTC to an address that moved them around a lot in the coming days. Is there a way to track/sort out who I sent it to? I’m thinking it was my slushpool account or something. Maybe an exchange? I guess I want to know if it’s possible for me to figure out where I sent them or what exchange and I can recover an account. Thanks in advance, Update: I think I may have had a tradehill account. I have an email where I am asking their support to recover my bitcoins shortly after they stopped trading. Any news/word on tradehill? I can’t find anything.
Having reviewed both the indictment as well as the press release from the DoJ, there are several questions I think should be discussed. Some parts of the indictment make me believe that this whole action against BTC-e and Vinnik could lead to much more problems than most are aware at the moment. For example: In count 2 of the indictment, they write: "BTC-e was an international money laundering scheme [...]". They do not state that parts of BTC-e were used by the defendants as a money laundering scheme. BTC-e was, according to the DoJ, a money laundering scheme, thus all persons who ever deposed money or Bitcoin or any other cryptocurrency in BTC-e may be seen by the US as co-conspirators. I personally never used BTC-e, so I don't really care for me, but I know that people who were doing legit business also were using BTC-e. So does this mean that all of them potentially have to face a lawsuit against them in the US? Under count 6, they state: "Despite doing substantial business in the United States, BTC-e was not registered as a money services business... [...] as federal law requires." Now they also state that BTC-e was managed by a company in the Seychelles and had its web domains registered in countries like Singapore, British Vifgin Islands, France and New Zealand while BTC-e stated to be located in Bulgaria, operating under the laws of Cyprus. At the end of the day, under count 16, the indictment states that BTC-e - which, according to the indictment didn't ask its clients for identifiers, serverd "numerous customers in the United States and customers in the Northern District of California." Am I the only one who thinks this is weird? First the DoJ claims that BTC-e did not ask for any identifier, then the DoJ claims that there were a lot of - obviously identifiable - customers from the US? Well, at least two of them were identified: Two corrupt U.S. federal agents. Okay, then the indictment states that BTC-e used servers in the US. I guess they refer to Cloudflare. So using Cloudflare makes you potentially a subject to US law? Also, the indictment states that companies in California were used by BTC-e. But none of them is named nor its role. This looks a bit weird. The indictment also states that wire transfers from banks in the U.S. and made by U.S. citizens were accepted. So my interpretation of this: ANY Bitcoin exchange accepting wire transfers from the U.S. or accepting clients from the U.S. or using any internet service from the U.S. is potentially at risk of being prosecuted if they do not comply with U.S. laws. Later in the indictment, they list illegal transactions of about 18'000 Mt.Gox-Bitcoin to Tradehill in San Francisco. All of these transactions took place in January and February 2012, the last ones on February 12, 2012. The next day, Tradehill announced that it will shut down its operations. Tradehill was by then, if I understand it correctly, set up and operated by Jered Kenna. So would this make him a money launderer, too? To make one thing clear: I never used Mt.Gox nor BTC-e, nor do I support money laundering in any way. However, this case could become more important over the time for Bitcoin related businesses all over the world. It means: Accepting clients from the U.S. or using internet services in the U.S. potentially puts you in a situation where you have to act according to U.S. laws. I live in Europe, and I'm willing to live according my country's laws (as far as possible). However, I am not willing to form my business to comply with U.S. laws - which sometimes would make me violate domestic laws. In the long term, this could mean that Bitcoin companies should refuse to render their services to any US citizen and/or company.
Hey guys, I've been trying to locate my 10 bitcoins (purchased in 2011) and have thus far been unsuccesful. I recently located an old email that sent $100 thru Duwalla to Tradehill to purchase the bitcoin. Has anyone been successful in reaching Tradehill (or their new associates) to uncover lost bitcoin? I don't think I pulled anything into my wallet and am hoping the keys are on the old servers.... (long shot)
BTC-e indicted for laundering MtGox funds, fined $110 Million
This is the best tl;dr I could make, original reduced by 78%. (I'm a bot)
The U.S. Department of Justice recently announced the indictment of a Russian national named Alexander Vinnik and an organization he allegedly operated, the bitcoin exchange BTC-e, for operating an unlicensed money service business, money laundering, and related crimes. The indictment also alleges that Vinnik received funds from the Mt. Gox hack, and laundered these funds through various online exchanges, including BTC-e and the early bitcoin exchange Tradehill, which was based in San Francisco. Soon after the mainstream press broke the news of Vinnik's arrest on Wednesday, Kim Nilsson of the WizSec Bitcoin Security blog published a detailed blog post announcing that "Vinnik is our chief suspect for involvement in the MtGox theft." According to Nilsson's findings, the MtGox theft was initially performed in 2011, around the same time that BTC-E was founded. Proceeds from well-known hacks and thefts from bitcoin exchanges were allegedly routed through a BTC-e administrator account associated with Vinnik, the DOJ claims. FinCEN is seeking a $110 million civil money penalty against BTC-e "For willfully violating U.S. anti-money laundering laws." Additionally, Vinnik is being charged $12 million for his role in the violations.
Novice, Intermediate or Expert? A Quiz to Test Your Bitcoin Knowledge
Think you know the ins-and-outs of bitcoin? Test yourself with 30 questions that grill you on Bitcoin’s history, technology and politics. The 30 questions are split up into three segments ranging from novice to intermediate to expert, and cover a wide range of topics across the Bitcoin landscape. If you get stuck or want to check your answers along the way, an answer sheet has been added below the quiz. Of course, these questions cover only a few points about Bitcoin so far — with so many new developments taking place, there is always more to learn. Good luck! Novice Questions 1. Who created bitcoin? a. Vitalik Buterin b. Gavin Andresen c. Satoshi Nakamoto d. Charlie Lee e. Jackson Palmer 2. What is the original document that proposed Bitcoin, considered by many in the space to be a “must read”? a. The Bitcoin White Paper b. The Golden Proposal c. E-Money: Bitcoin and the Blockchain d. The Bitcoin Manifesto e. The Bitcoin Constitution 3. What is the name of the bitcoin exchange from Japan that famously collapsed in 2014 due to a devastating hack? a. Tradehill b. Bitstamp c. Mt. Gox d. Blockchain.info e. Bit Trade 4. How many bitcoin will ever be created? a. Unlimited b. 77,340,109 c. 3,500,000 d. 21,000,000 e. 18,650,000 5. What is the name of the off-chain scaling solution that is being developed to mitigate bitcoin’s fees and long transaction times? a. Instasend b. Second Layer Network c. Lightning Network d. Quick Net e. The Bitcoin Payment Network 6. Which of the following statements is NOT true about bitcoin wallets? a. Wallets can come in many forms, as long as they hold your private keys. b. Wallets have addresses that anyone can use to see the current number of unspent bitcoins in them. c. The only thing someone needs to access a wallet is the private key. d. It is possible to send bitcoin by signing the transaction offline and then broadcasting the transaction later. e. To open a wallet you must submit a request to the wallet provider. 7. What is the name of the technology underlying Bitcoin? a. Bitchain b. Blocklink c. Blockchain d. CoinLedger e. Satoshisquare 8. True or false? Bitcoin can be sent to an Ethereum address. a. True b. False 9. The first underground marketplace on the dark web which used bitcoin as its native currency and was created by Ross Ulbricht was called: a. Black Onion b. BTC Market c. East India Trading Company d. Silk Road e. Worldwide Drug Emporium 10. Bitcoins can be divisible down to the eighth decimal point. What is that unit called? a. Bit b. Satoshi c. Naki d. Shill e. Bitsat Intermediate Questions 11. Which traditional stock exchange was the first to list bitcoin futures contracts? a. The New York Stock Exchange (NYSE) b. The Intercontinental Exchange (ICE) c. The Chicago Mercantile Exchange (CME) d. The Chicago Board Options Exchange (CBOE) e. None of the above. Futures contracts are only available on cryptocurrency exchanges like BitMex and Bitfinex. 12. The computers that find new blocks are called: a. Accountants b. Miners c. Mitigators d. Associates e. Verifiers 13. Which of the following is NOT true about Bitcoin Cash, a fork from Bitcoin? a. Bitcoin Cash was created over an ongoing debate within the Bitcoin community over scaling and transaction speed. b. Roger Ver uses bitcoin.com to convince new investors that Bitcoin Cash is the original bitcoin. c. Bitcoin Cash is commonly referred to as “Bcash” because (some) bitcoin proponents don’t want to give the forked currency the brand recognition that Bitcoin has accumulated since 2009. d. Bitcoin Cash uses the SHA-256 hash function (the same as Bitcoin). e. Bitcoin Cash removed its block size limit completely. 14. Where is the Bitcoin processing server located? a. Washington, D.C., USA b. London, England c. Undisclosed location d. The United Nations votes on a new location every two years e. None of the above — Bitcoin has no processing server 15. What date was the Bitcoin network launched? a. November 5, 2008 b. May 1, 2010 c. January 3, 2009 d. December 31, 2008 e. April 23, 2010 16. When was Bitcoin’s all-time high exchange rate achieved (as of 9/11/18)? a. January 12, 2016 b. July 15, 2017 c. December 17, 2017 d. August 3, 2018 e. January 10, 2014 17. Which of the following statements is true? a. Bitcoin is owned by the NSA. b. By 2030, all bitcoins will have been mined. c. Bitcoin has smart contract capabilities. d. Before Satoshi created Bitcoin, he and a group of developers premined roughly 1 million coins. e. Only select people can mine bitcoins. 18. How often, on average, can we expect a new block be found by miners? a. > 1 second b. 2 minutes c. 10 minutes d. 60 minutes e. 6 hours 19. What is Bitcoin Pizza Day, May 22nd? a. A day every year where people who hold bitcoin pay forward a random pizza to a stranger b. The day when a computer programmer, Laszlo Hanyecz, paid 10,000 bitcoins for two pizzas in 2010 c. The day Satoshi announced his favorite food is pizza d. The day Vitalik compared bitcoin’s security to that of a soggy pizza e. A day sponsored by Pizza Hut where you can pay for pizza with bitcoin 20. How many new bitcoins should be created each day with the current block reward, on average? a. 2,200 except for February 29 on leap years b. 1,800 c. 5,000 d. 7,200 e. 150 Expert Questions 21. What is the difference between a soft fork and a hard fork? a. A soft fork happens when the code of a project is copied with permission of the original developers. A hard fork happens when the code of a project is copied without the permission of the original developers. b. A hard fork is a backwards-incompatible protocol change because it makes previously invalid blocks or transactions valid. A soft fork is a backwards-compatible protocol change because it makes previously valid blocks or transactions invalid. c. A hard fork occurs when miners in a mining pool cannot agree on how the block reward should be divided. A soft fork occurs when miners in a mining pool collectively decide to change how block rewards should be distributed. d. None of the above. 22. What does ASIC stand for? a. Applied Socioeconomic Investment Compository b. Application Specific Integrated Circuit c. Anonymous Spending Instrument for Cryptocurrencies d. Alternative Synthetic Interoperability Circuit e. Antiquated System for Implied Cryptography 23. What does an ASIC do for Bitcoin? a. Allows consumer access to high-level investment information, similar to a Bloomberg terminal b. Allows users to trade cryptocurrencies between different blockchains c. Anonymously allows users to send cryptocurrencies that aren’t entirely private d. Performs one specific task of solving a mathematical problem in order to find a new block e. Allows developers to cross reference current technology stacks with older languages 24. Is Bitcoin truly anonymous? a. Yes, people who use bitcoin cannot have their transactions traced by anyone. b. No, bitcoin addresses are derived from IP addresses. c. No, all transactions are recorded on a global transparent ledger that can be traced using analytical technologies. d. No, addresses openly show the name of the user. e. No, bitcoins can be linked to a user’s social security number. 25. What is SHA 256? a. A secure hashing algorithm used by Bitcoin, originally designed by the NSA b. A set of rules that miners and nodes must follow c. A scheme devised by Craig Wright to convince people he is Satoshi d. An annual conference in New York for blockchain enthusiasts e. The language Satoshi and early developers used to communicate behind closed doors 26. What is a nonce? a. An empty value in each block that is filled by the miner of that block b. Another name for a node c. A mining device faster than an ASIC d. A part inside a processing chip used in mining e. A name for a troll in Reddit forums 27. What is “difficulty” in relation to Bitcoin? a. A measure of how hard it is to explain what Bitcoin is b. A measure of how difficult it is to find a hash below the target c. A measure of long it takes to send bitcoin between addresses d. A measure of how difficult it is for bitcoin to move a certain number of basis points e. A measure of how hard it is for Bitcoin to recover to its all-time high 28. What is multi-sig verification? a. An older method of confirming bitcoin transactions now replaced by single-sig verification b. Verification that a user is allowed to hold bitcoins in a certain address by requiring multiple signatures from friends and family c. A form of verifying if someone is telling the truth by having multiple signatures from people monitoring the event taking place d. A process by which miners select which transaction to verify by having three other miners create a signature giving permission for the transaction to be verified e. A technology to verify wallets by requiring multiple signatures to process a single transaction with enhanced security 29. Bitcoin consumes roughly 1 percent of the world’s energy consumption. What does this mean about its security? a. A malicious actor doesn’t need to consider the total energy consumption in order to successfully execute a 51% attack. b. Bitcoin is secure to the point that it would require approximately 0 .0001% of the entire world’s energy consumption to attack the network. c. Bitcoin is secure to the point that it would require approximately 1% of the entire world’s energy consumption to attack the network. d. A malicious actor would need 10 times the amount of Bitcoin’s energy consumption in order to successfully attack the network. 30. What is a Merkle Root in Bitcoin? a. A hash of all transactions in a block that allows any specific transaction to be verified without downloading the entire blockchain b. A series of complex data that uniquely identifies the owner of an address c. A program designed by David Merkle that uncovers the largest inactive bitcoin wallets d. A cryptocurrency developed by the chancellor of Germany e. A part of a complex system of underground “roots” that power the Bitcoin blockchain How did you do? Answers:
c. Satoshi Nakamoto
a. The Bitcoin Whitepaper
c. Mt. Gox
c. Lightning Network
e. To open a wallet, you must submit a request to the wallet provider.
d. Silk Road
d. The Chicago Board Options Exchange (CBOE)
e. Bitcoin Cash removed its block size limit completely. (The limit is actually 32MB.)
e. None of the above — Bitcoin has no central server
c. January 3, 2009
c. December 17, 2017
c. Bitcoin has smart contract capabilities
c. 10 minutes
b. The day when a computer programmer, Lazlo Hanyecz, paid 10,000 bitcoins for two pizzas in 2010
b. A hard fork is a backwards incompatible protocol change because it makes previously invalid blocks or transactions valid. A soft fork is a backwards compatible protocol change because it makes previously valid blocks or transactions invalid.
b. Application Specific Integrated Circuit
d. Performs one specific task of solving a mathematical problem in order to find a new block
c. No, all transactions are recorded on a global transparent ledger that can be traced using analytical technologies
a. A secure hashing algorithm used by Bitcoin, originally designed by the NSA
a. An empty value in each block that is filled by the miner of that block
b. A measure of how difficult it is to find a hash below the target
e. A technology to verify wallets by requiring multiple signatures to process a single transaction with enhanced security
c. Bitcoin is secure to the point that it would require 1% of the entire world’s energy consumption to attack the network. (side note: bitcoin mining, while energy intensive, can be done in an eco-friendly, even carbon-neutral, manner. And it’s getting better all the time.)
a. A hash of all transactions in a block that allows any specific transaction to be verified without downloading the entire blockchain.
Please continue, I want dem cheap coins. Seriously though, let me tell you a story. Several years ago I read a news article about Bitcoin. It was super interesting so I did a whole bunch of Googling to learn more about it. I spent a couple of weeks lurking the bitcointalk forums and watching the price before I decided to buy myself some bitcoins. After getting myself set up on Mt Gox and TradeHill I exchanged 100 of my hard-earned Australian dollars for 12.5 bitcoins. I was in. I spent the next week or so watching the price, and as the contents of my modest wallet doubled in value, I decided I should buy some more of this magic internet money. I moved another $100 into my TradeHill account and this time received 5.5 bitcoins. I now had 18 whole bitcoins, and boy was I loving it. A whole lot of other people must have read the same article that I did, because the price continued to surge. About a week later they reached US$32 each. This was the highest the exchange rate had ever been at the time and I, along with many other people, was sure I was going to be rich. To the young man I was at the time, $570 was a lot of money, especially off a $200 investment. I considered cashing my bitcoins out for filthy government money but I was blinded by the gigantic dollar signs in my eyes and decided that I should hold on to them. Surely if I held on a little bit longer I'd be able to retire early. Apparently most of the bitcoin userbase at the time were less comfortable taking the gamble that I had resigned myself to, and cashed out. The price plummeted. As the hours passed my wallet became less and less valuable, and the $570 I could have made started to feel like a dream. The bubble that so many people had warned me about had burst and, sure that Bitcoin was dead, I cashed out completely. My bitcoins were only worth $10 each now. I took a $20 loss getting rid of them, but it was better than the $200 loss I was sure I was going to take if I didn't get out. I made the mistake of investing with my heart instead of my head. As I'm writing this, those 18 bitcoins I once held are worth more than $14,000. If I had've taken a step back and looked at the bigger picture, I would've made a lot of money. I got in on the ground floor and I screwed it up. I'll probably never have that opportunity again. You can make a decent profit off Bitcoin, but you have to be smart about it. Store your bitcoins offline. Check the price no more than once a day, and always keep it in the right perspective. Look at it in terms of how much it has grown in 6 months, not how much it has dropped in 2 days. If and when you decide it's time to cash out, do not press the big red button until you've had a chance to sleep on it. And most importantly, never invest more than you can afford to lose. TL;DR Don't sell your bitcoins, idiots. For anybody interested, I got back in at around the US$120 mark and sold some of my bitcoins at the very top of the spike last week. I'm using my profits to buy a new car. Other than that, I'm in it for the long haul now. I truly believe in Bitcoin but until the price stabilises it's an investment, not a currency. EDIT: Changed the "all-time high" price, some people pointed out my mistake. It all happened so fast, my memory is a little bit hazy about the whole thing. The moral of the story still holds up.
Using precious metal and coin dealers as local exchanges?
I feel that Bitcoin could use more local exchanges. Sending money through banks, while convenient, empowers the current system. Running most of your BTC or USD through MtGox or even Tradehill creates chokepoints, and encourages speculation. Now, I'm not knocking speculation, I've made a fair amount of money speculating in Bitcoin, but if it's to fulfill its promise, it needs to be more of a currency than a speculative tool. Rather than a top down exchange model, a local exchange model will be helpful. I've been working with local miners to buy directly off of them, but many are not selling. As an aside, look at the Italian citizens trying to smuggle money out of the country before new draconian taxes go into place. There have to be SOME miners in Italy willing to sell. If they only sell through the main exchanges, Italy could block transfers. They can't (easily) block people giving miners cash. Meeting in person sucks. An in-the-middle solution is to find a way for there to be permanent or semi-permanent meeting places staffed with people who can trade Bitcoin. Unfortunately, there's not enough business currently to justify those overhead costs. If only there was a type of business which sold things which a large percentage of people who want to get into Bitcoin would also be interested in and they already paid staff to be there so doing Bitcoin transactions wouldn't be much of an extra hassle. If only these types of businesses were all over the place allowing local trading to be viable. Oh wait... there totally is a business like that. Gold and coin shops! There are many such dealers located all over, they already have security for dealing with cash transactions, and it could be a way to get customers in their door. As a bonus, the people who are looking to get into Bitcoins demographically overlap appreciably with people who don't have much faith in state currencies and these people might also be interested in precious metals. To the last point, on the flip side, there are many people who are already interested in gold and silver that might be amenable to putting a small amount of money into Bitcoin. Now, there has been a lot of animosity between gold bugs toward Bitcoin. "What backs it?" Well, what backs gold? Nothing has intrinsic value. If they can get over the fact that a Bitcoin isn't something shiny and heavy and are willing to take people's money, then it seems like this could be a good vector through which to spread Bitcoin.
[uncensored-r/Bitcoin] Before we go any further, I'd like to say one thing: $10,000 is the moon.
The following post by badr is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7a4wy5 The original post's content was as follows:
Do you know how far away $10,000 looked? It's easy to forget. I got into Bitcoin in 2011. I started the San Francisco Bitcoin Meetup. The first meeting was six of us at a bar, not sure how crazy we were. The price that year went from $1 to $30 — wow! And then it crashed to $3, and many people wondered if it would continue on to zero. The whole time, at that first meeting and later ones, the main line of thought, as far as price goes, was: "Bitcoins are probably worth nothing. But if this does become a thing, they'll be worth a lot." And $10,000, specifically that number, was as high as anybody dared to dream. That was the number where you'd propose it with a laugh, and then everyone would look away, embarrassed but dreamy-eyed. So please let me tell you, $10,000 is the moon. When I started the meetup, I just wanted to meet anyone who had even heard of Bitcoin. Of course there were online discussions, but I was so profoundly excited about this thing, and no one I knew in real life had heard of it (except my friends who I was relentlessly badgering). That's a weird place to be. Especially since today, almost everyone has heard of Bitcoin. So I meet up with these guys and I got to experience that shared excitement in person. I understood how members of an esoteric cult must feel. We strongly believed something — that Bitcoin might be part of the future — that almost nobody outside of that room believed. I was only pretty sure we weren't crazy. The second meetup was already bigger, and incredibly inspiring. My hope going in was that some people would get together to start a new project because of the meetup, but it became clear that that wasn't going to happen — everyone was already working on something. Besides talking about our projects, there was debate about the usual subjects: what's next for Bitcoin? What's it most useful for? What'll it look like in a year? No one was out to prove anything, everyone was hoping to discover something. Many people came through those first few meetings: the original founder of MtGox, the ExchB founders (remember?), the TradeHill founders, the future founder of Coinbase, a bitcoinj author, and more. I say this only with the hopes that it gives me some scrap of authority, not as a leader, but simply as someone who was there, who was present for the early narrative. No one was imagining past $10,000. So, to me, $10,000 is the moon. And ok, there's a technical question of whether we mean $10,000/BTC, or $10,000 when you add BTC + BCH and whatever other forks. I say the former. If we're going to add up all the forks, there's an asterisk on the party, and we have to explain the details. We don't want details, we want headlines. We want the moon. So if it hits $10,000 per BTC, we should celebrate! $10,000 is the moon. There's always the stars.
I am new to bitcoin (just installed the bitcoin software today) and even after doing a lot of reading and watching a lot of videos, I am having issues turning my money into bitcoins. I have registered with a lot of services (Tradehill, Bitmarket, Intersango) and I cannot seem to make it far enough to actually trade money for bitcoins. Tradehill wants me to first deposit 100 dollars, which I am uncomfortable doing as a beginner. Bitmarket wants me to verify my account, which I can't do because I have no bitcoin history. Intersango seemed like a dream come true until they only accepted deposits via dwolla, which requires a phone number to register (and tradehill wants one to contact me), but I do not have a phone. Is there any sort of service that can let me buy bitcoins with dollars without making me jump through a bunch of hoops and giving moar information than some banking information? I was really into bitcoin a few hours ago, but now it seems like its just a real pain to get anything done. I would really appreciate any help. tl;dr I need a fast way to turn my dollars into bitcoins without Dwolla, Paypal, or a phone number.
Bitcoin Documentary - Soon to release! - "The Rise and Rise of Bitcoin"
Hello Reddit! The new documentary "The Rise and Rise of Bitcoin" is in the final stages of editing, and is slated for release at the beginning of next year! With inside coverage of MtGox in Japan, BitInstant in NY, Coinapult in Panama, Tradehill in San Francisco, Mike "Casascius" Caldwell in Utah, the Bitcoin 2013 conference, BitPay in Atlanta, Butterfly Labs in Kansas City, FinCEN in Washington DC, The Winklevoss twins, and much much more! The documentary started about a year and a half ago and continued filming through this incredible year in Bitcoin's history. Check out the working trailer at http://www.BitcoinDoc.com/ and please donate what you can! Post-Production is very expensive, and the release of this documentary will spread awareness and knowledge about Bitcoin to an extremely diverse audience. Helping us all! Please support! It's going to be amazing!
Regulations or positions of some countries about cryptoworld Because governments can sometimes be a bit touchy about attempts to create alternatives to the legal tender they enjoy a monopoly on printing, a wise investor might wonder about the legal status of cryptocurrencies. Indeed, the disruptive potential of these technologies has made governments around the world nervous, as they have struggled to devise appropriate regulations for the cryptocurrency realm without stifling innovation. Most potential investors have nothing to worry about from a legal standpoint, but it pays to do one’s homework. Regulations or positions of some countries about cryptoworld Some countries have banned or ruled unconstitutional the use of cryptocurrencies within their borders, while others have embraced them or even announced plans to issue their own. Of course, due to the inherently decentralized nature of cryptocurrencies, enforcement has proven difficult. Taxes levied on profits made trading cryptocurrencies vary based on their legal classification. Check the laws in your country, and make sure you abide by them when investing. Questions of legality in major markets have caused temporary dips in cryptocurrency prices over the years, but they have always recovered. Keep reading for a brief history of legal rulings and government announcements related to bitcoin that have helped shape the current ecosystem. February 2012 Payments services firms Paxum and Tradehill temporarily cease bitcoin exchange activities due to legal concerns raised by Canadian regulators. 28 March 2013 Cypriot investors drive up bitcoin prices seeking a refuge for savings when a government bailout program threatens to tap bank deposits. 14 May 2013 The United States Department of Homeland Security seizes almost $3 million from a subsidiary of the Mt. Gox exchange, claiming that the business is illegally engaged in money transmission without a license. 30 August 2013 Tradehill stops exchanging bitcoin, again due to regulatory uncertainty, indicating a growing need for government clarification on the legal status of cryptocurrency. October 2013 The U.S. Federal Bureau of Investigation arrests operator of Silk Road dark web marketplace Ross Ulbricht, alias “Dread Pirate Roberts,” charges him with computer hacking, money laundering, drug trafficking and attempted murder, shuts down the site and seizes over 170,000 bitcoins. In the wake of the shutdown, numerous other illicit marketplaces emerge, but are prone to exit scams in which operators abscond with bitcoins held in escrow. 18 November 2013 U.S. Senate holds hearing titled “Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies.” Members express reservations about the potential illicit applications of cryptocurrencies so vividly illustrated by Silk Road, frustration at the difficulty of regulating something so difficult to understand, but ultimately hope that government will be able to create a system in which decent people have a “chance to try and play by the rules.” 22 November 2013 China’s central bank issues an equivocal statement on bitcoin that nonetheless greenlights Chinese participation in cryptocurrency exchange and investment, prompting huge price gains over subsequent weeks. 05 December 2013 Backpedaling somewhat in response to the widespread use of bitcoin to circumvent limits on capital outflows, China bans banks and other financial institutions from dealing with or offering services relating to bitcoin, ruling that it is not a currency. 25 March 2014 The U.S. Internal Revenue Service issues its first guidelines for bitcoin, ruling that it is to be taxed as property, not treated as currency. 10 April 2014 Under government pressure, Chinese banks begin to shut down accounts belonging to bitcoin exchanges. Prices drop 10%, but many exchanges exploit loopholes and offshore parts of their businesses to continue operating. July 2014 The state of New York announces plans to develop licensing requirements for businesses dealing in bitcoin or related services, which proves extremely unpopular with cryptocurrency advocates. 06 November 2014 Trendon Shavers, alias “pirateat40,” arrested for defrauding bitcoin investors in Ponzi scheme in 2012. 19 December 2014 Bitcoin entrepreneur and proponent Charlie Shrem sentenced to two years in prison for illegal money transmission charges related to the Silk Road marketplace. 25 January 2015 Coinbase navigates regulatory frameworks to win approval to operate a fully-fledged bitcoin exchange in 25 U.S. states and sets sights on further expansion. 25 March 2015 Hong Kong officials warn against potential fraud on exchanges, but indicate they will take a light hand regulating cryptocurrencies, classifying them not as legal tender but as “virtual commodities.” 29 May 2015 Ross Ulbricht receives sentence: life in prison without parole. Judge Katherine Forrest explicitly seeks to make an example of him and thereby discourage others from using cryptocurrency and the relative anonymity of the Internet to flout the law. 01 August 2015 Mark Karpeles, former Mt. Gox CEO, arrested in Japan and charged with falsification of records relating to the solvency of the exchange during its collapse. 10 August 2015 Deadline hits for compliance with New York regulators’ “BitLicense” rules, leading many exchanges to stop serving customers in the State. 22 October 2015 Crypto advocates hail a European court ruling that VAT does not apply to bitcoin and other cryptocurrency transactions, thereby classifying them as currency, not property. 10 November 2016 The state of North Carolina creates legislation to address bitcoin and money transmission, which regards businesses dealing in virtual currencies as subject to the same set of rules and licensing requirements that govern transmission 10 March 2017 The U.S. Securities and Exchange Commission denies Cameron and Tyler Winklevoss authorization to create a bitcoin-based ETF, citing inadequate regulation of cryptocurrency exchanges. 28 March 2017 The SEC denies the Winklevoss brothers’ second request for authorization of a bitcoin ETF, again citing concerns about the lack of regulation and potential for fraud on the exchanges. 01 April 2017 Japan recognizes bitcoin and other cryptocurrencies as legal tender and lays the groundwork for supportive regulations intended to permit legitimate investment while discouraging money laundering and terrorist financing. 04 September 2017 China prohibits fundraising via initial coin offerings, which it considers illegal. 07 September 2017 The European Central Bank rules out the possibility of Estonia launching its own national cryptocurrency, reaffirms the privileged status of the Euro as legal tender, and cites concerns that national cryptocurrencies would undermine financial regulations. 06 December 2017 Softening its initial stance, Russian regulators indicate that new rules may allow the purchase of cryptocurrencies, but forbid or heavily restrict mining activities. 07 December 2017 Regulators in South Korea ban trading in bitcoin futures as well as initial coin offerings(ICO), but will permit cryptocurrency exchanges to continue operations.
Since a lot of people will be switching over to Trade Hill, I figured it was probably worth trying to revive the referral chain from 2 weeks ago. I just created an account using the original poster's. If you're creating an account you can use mine TH-R15979 and then post yours for the next user. For those that don't know: Base commission: 0.6% Commission with referral: 0.54% Additionally, anybody you refer makes a trade you will receive a small part of the revenue.
Help us optimize market making bots: 50 btcs bounty
Hi fellow redditors, I'm looking for a hand here. I have been developing a web bot platform and I have chosen to get it started by proposing open-sourced market making bots targeting several bitcoin exchanges, and by offering a free hosted version of the platform, with currently about 50 user bots running. I'm not a financial expert, so the best I could do was making sure the platform and bots are easily extensible and the current implementation gives each user access to a comprehensive set of parameters to control most aspects of the trading strategy. Now it's all about finding out an optimal set of parameters. In order to do so, I have set up a 50 bounty in the form of a trading competition. Unfortunately, I wasn't too successful in getting participants so far. Could some of you guys consider being part of it? All you have to do is to register a dedicated MtGox or TradeHill account with a couple of bitcoins, register your bot on our hosted platform, tweak the parameters until you're satisfied with the resulting behavior, and post to the competition thread with your username. Even if it's not for the 50 btcs bounty, there are good chances that you can get away with a net profit by the end of the competition, and hopefully we can then all benefit from an optimized strategy while providing liquidity to the btc market. I'm happy to get you started if you need help, and I'm really looking for bitcoin enthusiasts to look at the financial matter while I can concentrate on what I'm best at, i.e improving the bot platform. Edit: I'm sorry I had to cancel the contest. We had quite a few new user bots registered on our website, but with a single participant registered to the contest so far, and since the competition start was already postponed by one week, I come to the conclusion that the contest was probably not the right formula. Anyway, I'm reporting the prize to another bounty with the same goal to improve the trading material, this time by a direct involvement to the source code project. Up to writing the announcement in the bitcointalk forum, and I'll post the link here. Edit 2: Here's the link to the new bounty: https://bitcointalk.org/index.php?topic=51092.0
Great news: Tradehill has relaunched as an institutional platform, but..... Anybody else still out Bitcoins from their February 2012 shutdown? I had over 200 coins in my account and they never refunded them to me. Anybody else in this boat? I might sue.
Tradehill initially launched in June 2011 and functioned as the second largest Bitcoin exchange in the world until temporarily shutting down in January 2012. When Jered Kenna, CEO, met Ryan Singer, Tradehill President and COO, at the Future of Money and Technology Conference in San Francisco, and they decided to team up to create the world's enterprise class virtual currency exchange. Tradehill's CEO confirms the bitcoin exchange platform has suspended trading due to issues with its bank, the Internet Archive Federal Credit Union (IAFCU). Bitcoin experienced a rough night on Monday as TradeHill, the second-largest Bitcoin exchange, announced that it was closing its doors. In a statement, CEO Jered Kenna cited regulatory problems ... We have seen this event almost unnoticed, because Tradehill is better known in the United States. It is a prominent player in the cryptocurrency market in the us market, it is paid attention to large news agencies such as Bloomberg. Tradehill was one of the first exchanges to start trading Bitcoin. In 2011, it became one of the largest trading ... Following the breach, attackers aimed their sights on eight Bitcoin businesses, such as Tradehill, Bitcoinica, and Bitcoin.cx. An estimated total of 46,653 BTC were stolen at the time. The biggest ...
The Bitcoin Show Episode 002 Jered Kenna, Tradehill.com
Bitcoin Worldwide Exclusive: New Competitor to MtGox: http://TradeHill.com Use Referral Code: TH-R141 for a 10% DISCOUNT FOR LIFE! Bitcoin Report Volume 10 - (An Idea Whose Time Has Come) Tradehill https://www.tradehill.com/ Victor Hugo http://recoveringfed.com/2010/05/18/there-is-nothin... Video interview with Jered Kenna, TradeHill and Bitcoin.com, CEO & Charlie Shrem, CEO BitInstant.com @ Future of Money & Technology Conference. April 25, 2012 For further info check out https ... Money & Tech's Jered Kenna sat down with his old friend and former Tradehill colleague Adam Stradling, who is now Founder and CEO of Coin4ce, a fixed-rate exchange based in Chile driven to to ... Bitcoin Worldwide Exclusive: New Competitor to MtGox: Use Referral Code: TH-R141 for a 10% DISCOUNT FOR LIFE! Guest: Jered Kenna TradeHill.com 2-Factor Authentication TradeHill rolls out the new 2 ...