Top Crypto Lawyer Warns Investors and Advocates, Says ...

Alleged Silk Road Founder Can't Be Guilty Of Money Laundering Since Bitcoin Isn't Money, Argues Lawyer

submitted by _jumpstoconclusions_ to news [link] [comments]

Alleged Silk Road Founder Can't Be Guilty Of Money Laundering Since Bitcoin Isn't Money, Argues Lawyer

Alleged Silk Road Founder Can't Be Guilty Of Money Laundering Since Bitcoin Isn't Money, Argues Lawyer submitted by awfml to Bitcoin [link] [comments]

Bitcoin Money Laundering: Charlie Shrem’s lawyer Marc Agnifilo, was engaged in discussions with federal prosecutors in a possible attempt to negotiate a plea bargain for his client.

Bitcoin Money Laundering: Charlie Shrem’s lawyer Marc Agnifilo, was engaged in discussions with federal prosecutors in a possible attempt to negotiate a plea bargain for his client. submitted by coolcityboy to Bitcoin [link] [comments]

Lawyers Want Bitcoin Money Laundering Charges Dropped on Technicality

Lawyers Want Bitcoin Money Laundering Charges Dropped on Technicality submitted by BTCNews to BTCNews [link] [comments]

Alleged Silk Road Founder Can't Be Guilty Of Money Laundering Since Bitcoin Isn't Money, Argues Lawyer

Alleged Silk Road Founder Can't Be Guilty Of Money Laundering Since Bitcoin Isn't Money, Argues Lawyer submitted by BTCNews to BTCNews [link] [comments]

Lawyers of Alleged Money Launderers in Florida Want Charges Dropped, Say Bitcoin Isn’t Money, As Defined By The IRS

Lawyers of Alleged Money Launderers in Florida Want Charges Dropped, Say Bitcoin Isn’t Money, As Defined By The IRS submitted by BTCNews to BTCNews [link] [comments]

What is the best online bank if I want to sell btc on paxful?

So I sold on paxful this week for the first time and ended up getting foreclosed by us bank. Apparently some of the people who bought my coin were using stolen funds. If I could do it over again I would've used another medium other than zelle, used a different bank, and vetted clients for identification.
My question is, going forward, what bank is best suited for selling bitcoin?
submitted by browniverson400 to Bitcoin [link] [comments]

Russia Proposes Harsh Penalties for Unreported Cryptocurrency Holdings

Russia’s Ministry of Finance has drafted a bill with harsh penalties for anyone who does not report their cryptocurrency holdings above a certain level. Penalties include jail terms and fines.
The Russian Ministry of Finance has sent out a new draft bill addressing the circulation of cryptocurrency in Russia to interested government departments, local news outlet Kommersant reported this week. The bill contains amendments to the Russian Criminal Code, the Criminal Procedure Code, the Administrative Code, the Tax Code, and the law on combating money laundering, the publication conveyed, claiming to be familiar with the bill.
The main changes from the previous bill concern the obligation of citizens to declare their cryptocurrency operations as well as the content of their cryptocurrency wallets. The ministry proposes requiring exchanges and users to inform the tax authority about cryptocurrency transactions.
Noting that the market views the previous draft law as posing significant restriction to the circulation of cryptocurrency in Russia, Kommersant reported that the new draft law is even more strict. “In particular, any person (natural or legal) who has received digital currency or digital rights of more than 100,000 rubles [$1,280] in a calendar year is obliged to inform the tax authority and submit an annual report on transactions with such assets and the balances of these assets.”
Bryan Cave Leighton Paisner (Russia) LLP’s senior tax lawyer Dmitry Kirillov explained that if the amendments are adopted, the first report will have to be submitted by April 30, 2021, for the 2020 tax filing year. He added:
" For failure to report to the tax authority, you can get a fine of 30% of crypto assets, but not less than 50,000 rubles."
Roman Yankovsky, a member of the commission on legal support of the digital economy of the Moscow branch of the Russian Lawyers’ Association, noted that foreign cryptocurrency businesses, including crypto exchanges and depositories, must send the tax authority quarterly information about their Russian cryptocurrency operations. While believing that “hardly anyone will take this rule seriously,” he elaborated:
"The liability is not limited to fines. Non-declaration of a crypto wallet if more than 1 million rubles [$12,796] have passed through it per year becomes a criminal offense of up to three years in prison. Also, forced labor can be used as a punishment."
Experts criticize the amendments are too harsh. Malta-based broker Exante co-founder Anatoly Knyazev, for example, believes that the penalties are disproportionate to the violations.
The Ministry of Finance also emphasized that recommendations by the Financial Action Task Force (FATF) are being considered, but noted that no final decision has been made on the regulation of cryptocurrencies in Russia.
The Ministry of Justice has confirmed that the proposed bill is under consideration for adoption in connection with the law on digital financial assets and digital currencies which will enter into force on Jan. 1, 2021.
Originally published by Kevin Helms | September 26, 2020 Bitcoin.com
submitted by kjonesatjaagnet to JAAGNet [link] [comments]

Stablecoins Are Not as Safe as You Think. How Your USDT, PAX, BUSD Get Frozen in a Moment

Stablecoins Are Not as Safe as You Think. How Your USDT, PAX, BUSD Get Frozen in a Moment
Being created on the basis of blockchain, stablecoins were considered to be a safe haven for investors… until recently. Why is their immunity elusive and how does the Financial Action Task Force (FATF) plan to control them?
Established in 1989 by the G7, the FATF inter-governmental organization develops policies to resist money laundering and financing of terrorism. It sets standards and implements legal and regulatory measures to combat illegal financial transactions.
They developed recommendations for the monitoring of money laundering and keep revising them regularly. In case of non-compliance, law enforcement is executed via regional financial organizations. As of 2019, there are 39 full members of FATF, including the USA, UK, Australia, most EU countries, Singapore, India and the Russian Federation.
Since 1st July, the FATF organization has been headed by Marcus Pleyer. During the last FATF meeting, the new president expressed his concerns about global stablecoins and organizations that issue them. Although the organization had already dealt with these cryptocurrencies, it highlighted that, “it is essential to continue closely monitoring the ML/TF risks of so-called stablecoins, including anonymous peer-to-peer transactions via unhosted wallets”.
Is it ever possible to control crypto wallets that are not hosted on online exchanges? – you’d ask. We’re used to the fact that cryptocurrencies are outside the reach of banks and governments. However, when it comes to stablecoins, things are different.

It’s in the code

What makes stablecoins special is that they are pegging to fiat currency, for example, 1 TUSD = $1 USD. This means that such assets should be backed up by real money stored in the bank accounts of the issuing organization. Consequently, stablecoin creators need to comply with the requirements of the SEC, FATF and other controlling agencies, if they are to operate in the cryptocurrency sphere and be authorised to sell stablecoins. Transparent reports are not the only requirement, stablecoins must also provide the possibility of account blocking.
Surprisingly, this feature is implemented in each stablecoin. The experts from QDAO DeFi are covering several stablecoin protocols that enable this function.

OMNI-based USDT

Issued by Tether Limited, USDT is a stablecoin that was originally created to be worth $1 with each token backed by a $1 real fiat reserve. The currency was successfully promoted and added to major cryptocurrency exchanges but stayed a controversial asset. Despite the claims of Tether Limited, they failed to provide any contractual right or other legal claims to guarantee that USDT can be swapped for dollars or be redeemed.
In April 2019, Tether’s lawyers explained that each USDT was backed by only $0.74 in cash or equivalent assets. No audit of dollar collateral was done. A month before that, it changed the backing to include loans to affiliate companies. The scandal also involved the Bitfinex exchange that was accused of using USDT funds to cover $850 million in funds lost since 2018. They were also accused of manipulating USDT to push the BTC price.
Tether is available on five blockchains: Omni, Ehereum, EOS, Tron and Liquid. Only the latter does not have a freezing feature. Omni was the first protocol for USDT. Blocking of users’ accounts is possible, thanks to the following piece of code:

https://preview.redd.it/uqho45l33om51.png?width=690&format=png&auto=webp&s=c0feebdae086b0deeccde05278eaf3cc760f9e2b
Apparently, it’s used to blacklist addresses and contracts.

PAX

The concerns about PAX were centered around the notorious MMM BSC Ponzi scheme. Before the widespread adoption of DeFi services, it was the second-largest gas consumer after Ethereum. Out of 25,000 daily transactions, 5,000 were performed by MMM BSC. It was reported to be a scam but none of the accounts were frozen. Does it mean PAX lacked the resources to regulate illicit activities?
Evidently, not. The protocol code has a LAW ENFORCEMENT FUNCTIONALITY function that allows for the freezing/unfreezing of contracts or burning assets on blacklisted accounts. It turns out, anyone risks having their PAX coins destroyed during an investigation process while their accounts stay blocked.

History of frozen accounts

In 2019, the ZCash Foundation and Eric Wall conducted research on the privacy of stablecoins and revealed several frozen addresses. It’s not clear why exactly they were blocked. Most probably, it happened shortly after the exchange withdrawal – users took this action after witnessing platforms being hacked.

https://preview.redd.it/pkbruqm83om51.png?width=838&format=png&auto=webp&s=b068c5b8c5e5439892eaf5feefa3fbc93c694c8c
USDT was implicated at least twice in scandals to do with freezing. In April 2019, about $850 million in Tether dollars sent by Crypto Capital Corp. were frozen by a New York court. Tether and Btfinex were accused of participating in a cover-up to hide about $850 million worth in clients’ funds. By July 2020, Tether had frozen 40 Ethereum addresses with millions of USDT (some of them are shown in the screenshot above).
The Centre Consortium was the next to follow their lead; about a month ago, it blacklisted an address with USDC worth $100,000. That was done in response to law enforcement.
Yet, it’s not only Europe and the USA imposing control over cryptocurrencies. Since June 2020, the Chinese government managed to block several thousands of users’ bank accounts. It was done to resist illicit activities, especially money laundering. On some of those accounts, no activity had been detected for several months. Meanwhile, prior to April 2020, Chinese residents moved over $50 billion worth of crypto outside the country borders – more than is officially allowed (a maximum of $50,000 per person).
The authorities claim that USDT and other stablecoins are often used in illegal activities. Together with the People’s Bank of China (PBOC), they are developing new ways of investigating digital crimes and money laundering operations involving exchanges and crypto wallets. Local financial bureaus and police are working tight-lipped about investigating startups and crypto exchanges. And they are succeeding at it.
In July 2020, Chinese authorities confiscated BTC, ETH and USDT worth $15 million from people who allegedly ran a fake cryptocurrency scheme.
By the way, not only corporate accounts are being closed. One investor claims his account had been frozen after using yuan to purchase crypto. Also, users who transfer illegally obtained money outside of the mainland in large amounts are under suspicion. Does it mean the Chinese government has started tightening the screws on cryptocurrency users?

DAI, USDT on Liquid and USDQ are the main options for stablecoin deposits

So, where can you store your crypto assets? USDT on Liquid and DAI are not the only solutions available. Consider making a deposit in USDQ, the stablecoin of the QDAO ecosystem. Like other stablecoins, it’s 1-to-1 pegged to USD. However, it cannot be frozen by a government, financial organization or anyone from the QDAO team. You can check it yourself by reading our Smart contract and USDQ Audit.
In QDAO, users’ accounts are never frozen by a single person – all account issues are solved by the entire QDAO community, with the help of a QDAO governance token.
In case of blocking (the chances of which are almost non-existent), you can address the QDAO community and get timely help.

Bottom Line

With FATF taking this new course of action, we might witness serious pressure on stablecoin providers. Some projects will resist it, but it’s still not safe to store your assets in popular stablecoins, especially USDT. Your account can be frozen by authorities for dozens of reasons without the possibility of retrieval.
Yet, there are a number of reliable alternatives and USDQ stablecoin is one of them. QDAO DeFi platform users feel free to manage their crypto reserves and make profitable deposits.
Want to be the first to hear QDAO DeFi news and updates? Visit our website and stay in touch with us on social media: Twitter, Facebook, Telegram and LINE (for the Japanese-speaking community).
submitted by QDAODeFi to u/QDAODeFi [link] [comments]

I've hit rock bottom financially, and have no idea how I will get through tomorrow.

Hello
I don't really know where to start. A while ago I made a mistake which cost me pretty heavy. I was already in a lot of debt but was actively working to climb out of it. Around that time I had maybe $1,600 (Before bills), and the mistake forced me to hire a lawyer ($1,000 down $5,000 total) and completely flipped my life around. I struggled for months paying bills late, only minimums, selling my belongings. This was all me trying to play bill catch up, getting hit with late payments and trying to climb back out of the hole.
It seemed like I'd get paid, and immediately it was gone, my two credit cards were already maxed ($5,000 total), so I took a small loan from upstart, which was granted surprisingly. The money helped but was just enough to almost bring me and my situation from unbearable to just under manageable, being able to pay off my lawyer in June. I managed to climb up slightly and had gotten to a point where I was still behind, but was learning about p2p crypto transactions. I thought it would be a good way to grind my way back to stability, and with the last $50 before payday, bought bitcoin and started flipping it at about %20 profit, essentially starting the dig deeper in my hole.
I managed to build my balance over a month and managed to get about $300 and put it towards bills and debts (Still receiving my normal employment check of 1500). I stopped p2p trading after doing more research and found that without certain licenses and legal steps, you could be shutdown for laundering and possible fraud. My financial situation last week was looking like I could make it. I get paid this Friday (1500) and had planned on paying mortgage (840 which was due July 1), utilities, water, both overdue credit card payments, and my upstart loan which is already late at $290, and hold my car payment of 380 until mid August payday (due on Aug 7th). I had about 45 dollars in my bank account until then and got an email on Friday about a dispute on the payment processing app "Square".
They told me that back in June I had made a transaction for $494, but now the buyer is disputing it saying that they have no recollection of this. This transaction was back when I was making P2P bitcoin sales, and had sold someone $350 worth of bitcoin for about $494 using a vanilla visa gift card. I luckily still had all the receipts from the transaction and all the required details saved, and handed it over to Square, which they then handed to the bank for further review. I thought of how unfortunate this is to have happened now, but was without a doubt that my evidence would be enough the combat a would be scammer.
I was wrong.
This morning square emailed me saying that $494 was withdrawn from my back as a "Hold" while the dispute is ongoing. I thought it was a joke, and checked my bank account statement to see $-500. I have no idea what to do. I get paid 1500 Friday, and will HAVE to pay mortgage, which will leave me with around 200 dollars due to the overdraft. I still have utilities due, water due, other credit payments due. I can't take any other loan, and I can't request a credit limit raise, no savings, no assets besides small furniture in my home and my bed, which I'm about to sell. I do have an iphone I can try and get rid of but it's in bad condition and I don't know if I would even get anything close enough to get me out of this.
I apologize if this is all over the place, I work a midshift and this news of the dispute has my mind going everywhere rapidly. I understand poor money management and my legal fees got me here, please believe I have been doing what I can to try and get out of this rut. I am posting here trying to get any piece of advice that maybe I overlooked, any solution, anything. I for the first time in my life have literally no clue what to do.

TLDR; Hit a low financially, climbed up slightly over the past year, only to hit absolute rock bottom today with a Square dispute hold of $494, overdrafting my account $-500 with a plethora of bills coming up due.
submitted by lowestoflow2 to personalfinance [link] [comments]

Coinbase Complaint Number☎️ 1844-699-6794 ☎️||| Coinbase Contact US || YTUJHJHHGJ

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Coinbase support number 1844-699-6794 CEO Changpeng "CZ" Zhao really doesn't want to tell you where his firm's headquarters is located. #@$#@YUYIUO
To kick off ConsenSys' Ethereal Summit on Thursday, Unchained Podcast host Laura Shin held a cozy fireside chat with Zhao who, to mark the occasion, was wearing a personalized football shirt emblazoned with the Coinbase pro support number 1844-699-6794 brand.
Scheduled for 45 minutes, Zhao spent most of it explaining how libra and China's digital yuan were unlikely to be competitors to existing stablecoin providers; how Coinbase support number 1844-699-6794's smart chain wouldn't tread on Ethereum's toes – "that depends on the definition of competing," he said – and how Coinbase pro support number 1844-699-6794 had an incentive to keep its newly acquired CoinMarketCap independent from the exchange.
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There were only five minutes left on the clock. Zhao was looking confident; he had just batted away a thorny question about an ongoing lawsuit. It was looking like the home stretch.
Then it hit. Shin asked the one question Zhao really didn't want to have to answer, but many want to know: Where is Coinbase support number 1844-699-6794's headquarters?
This seemingly simple question is actually more complex. Until February, Coinbase support number 1844-699-6794 was considered to be based in Malta. That changed when the island European nation announced that, no, Coinbase support number 1844-699-6794 is not under its jurisdiction. Since then Coinbase support number 1844-699-6794 has not said just where, exactly, it is now headquartered.
Little wonder that when asked Zhao reddened; he stammered. He looked off-camera, possibly to an aide. "Well, I think what this is is the beauty of the blockchain, right, so you don't have to ... like where's the Bitcoin office, because Bitcoin doesn't have an office," he said.
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The line trailed off, then inspiration hit. "What kind of horse is a car?" Zhao asked. Coinbase support Service number 1844-699-6794 has loads of offices, he continued, with staff in 50 countries. It was a new type of organization that doesn't need registered bank accounts and postal addresses.
"Wherever I sit, is going to be the Coinbase support number 1844-699-6794 office. Wherever I need somebody, is going to be the Coinbase support number 1844-699-6794 office," he said.
Zhao may have been hoping the host would move onto something easier. But Shin wasn't finished: "But even to do things like to handle, you know, taxes for your employees, like, I think you need a registered business entity, so like why are you obfuscating it, why not just be open about it like, you know, the headquarters is registered in this place, why not just say that?"
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Coinbase Pro Helpline Number Zhao glanced away again, possibly at the person behind the camera. Their program had less than two minutes remaining. "It's not that we don't want to admit it, it's not that we want to obfuscate it or we want to kind of hide it. We're not hiding, we're in the open," he said.
Shin interjected: "What are you saying that you're already some kind of DAO [decentralized autonomous organization]? I mean what are you saying? Because it's not the old way [having a headquarters], it's actually the current way ... I actually don't know what you are or what you're claiming to be."
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Zhao said Coinbase support number 1844-699-6794 isn't a traditional company, more a large team of people "that works together for a common goal." He added: "To be honest, if we classified as a DAO, then there's going to be a lot of debate about why we're not a DAO. So I don't want to go there, either."
"I mean nobody would call you guys a DAO," Shin said, likely disappointed that this wasn't the interview where Zhao made his big reveal.
Time was up. For an easy question to close, Shin asked where Zhao was working from during the coronavirus pandemic.
"I'm in Asia," Zhao said. The blank white wall behind him didn't provide any clues about where in Asia he might be. Shin asked if he could say which country – after all, it's the Earth's largest continent.
"I prefer not to disclose that. I think that's my own privacy," he cut in, ending the interview.
It was a provocative way to start the biggest cryptocurrency and blockchain event of the year.
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Coinbase Pro Helpline Number In the opening session of Consensus: Distributed this week, Lawrence Summers was asked by my co-host Naomi Brockwell about protecting people’s privacy once currencies go digital. His answer: “I think the problems we have now with money involve too much privacy.”
President Clinton’s former Treasury secretary, now President Emeritus at Harvard, referenced the 500-euro note, which bore the nickname “The Bin Laden,” to argue the un-traceability of cash empowers wealthy criminals to finance themselves. “Of all the important freedoms,” he continued, “the ability to possess, transfer and do business with multi-million dollar sums of money anonymously seems to me to be one of the least important.” Summers ended the segment by saying that “if I have provoked others, I will have served my purpose.”
You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here.
That he did. Among the more than 20,000 registered for the weeklong virtual experience was a large contingent of libertarian-minded folks who see state-backed monitoring of their money as an affront to their property rights.
But with due respect to a man who has had prodigious influence on international economic policymaking, it’s not wealthy bitcoiners for whom privacy matters. It matters for all humanity and, most importantly, for the poor.
Now, as the world grapples with how to collect and disseminate public health information in a way that both saves lives and preserves civil liberties, the principle of privacy deserves to be elevated in importance.
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Just this week, the U.S. Senate voted to extend the 9/11-era Patriot Act and failed to pass a proposed amendment to prevent the Federal Bureau of Investigation from monitoring our online browsing without a warrant. Meanwhile, our heightened dependence on online social connections during COVID-19 isolation has further empowered a handful of internet platforms that are incorporating troves of our personal data into sophisticated predictive behavior models. This process of hidden control is happening right now, not in some future "Westworld"-like existence.
Digital currencies will only worsen this situation. If they are added to this comprehensive surveillance infrastructure, it could well spell the end of the civil liberties that underpin Western civilization.
Yes, freedom matters
Please don’t read this, Secretary Summers, as some privileged anti-taxation take or a self-interested what’s-mine-is-mine demand that “the government stay away from my money.”
Money is just the instrument here. What matters is whether our transactions, our exchanges of goods and services and the source of our economic and social value, should be monitored and manipulated by government and corporate owners of centralized databases. It’s why critics of China’s digital currency plans rightly worry about a “panopticon” and why, in the wake of the Cambridge Analytica scandal, there was an initial backlash against Facebook launching its libra currency.
Writers such as Shoshana Zuboff and Jared Lanier have passionately argued that our subservience to the hidden algorithms of what I like to call “GoogAzonBook” is diminishing our free will. Resisting that is important, not just to preserve the ideal of “the self” but also to protect the very functioning of society.
Markets, for one, are pointless without free will. In optimizing resource allocation, they presume autonomy among those who make up the market. Free will, which I’ll define as the ability to lawfully transact on my own terms without knowingly or unknowingly acting in someone else’s interests to my detriment, is a bedrock of market democracies. Without a sufficient right to privacy, it disintegrates – and in the digital age, that can happen very rapidly.
Also, as I’ve argued elsewhere, losing privacy undermines the fungibility of money. Each digital dollar should be substitutable for another. If our transactions carry a history and authorities can target specific notes or tokens for seizure because of their past involvement in illicit activity, then some dollars become less valuable than other dollars.
The excluded
But to fully comprehend the harm done by encroachments into financial privacy, look to the world’s poor.
An estimated 1.7 billion adults are denied a bank account because they can’t furnish the information that banks’ anti-money laundering (AML) officers need, either because their government’s identity infrastructure is untrusted or because of the danger to them of furnishing such information to kleptocratic regimes. Unable to let banks monitor them, they’re excluded from the global economy’s dominant payment and savings system – victims of a system that prioritizes surveillance over privacy.
Misplaced priorities also contribute to the “derisking” problem faced by Caribbean and Latin American countries, where investment inflows have slowed and financial costs have risen in the past decade. America’s gatekeeping correspondent banks, fearful of heavy fines like the one imposed on HSBC for its involvement in a money laundering scandal, have raised the bar on the kind of personal information that regional banks must obtain from their local clients.
And where’s the payoff? Despite this surveillance system, the U.N. Office on Drugs and Crime estimates that between $800 billion and $2 trillion, or 2%-5% of global gross domestic product, is laundered annually worldwide. The Panama Papers case shows how the rich and powerful easily use lawyers, shell companies, tax havens and transaction obfuscation to get around surveillance. The poor are just excluded from the system.
Caring about privacy
Solutions are coming that wouldn’t require abandoning law enforcement efforts. Self-sovereign identity models and zero-knowledge proofs, for example, grant control over data to the individuals who generate it, allowing them to provide sufficient proof of a clean record without revealing sensitive personal information. But such innovations aren’t getting nearly enough attention.
Few officials inside developed country regulatory agencies seem to acknowledge the cost of cutting off 1.7 billion poor from the financial system. Yet, their actions foster poverty and create fertile conditions for terrorism and drug-running, the very crimes they seek to contain. The reaction to evidence of persistent money laundering is nearly always to make bank secrecy laws even more demanding. Exhibit A: Europe’s new AML 5 directive.
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To be sure, in the Consensus discussion that followed the Summers interview, it was pleasing to hear another former U.S. official take a more accommodative view of privacy. Former Commodities and Futures Trading Commission Chairman Christopher Giancarlo said that “getting the privacy balance right” is a “design imperative” for the digital dollar concept he is actively promoting.
But to hold both governments and corporations to account on that design, we need an aware, informed public that recognizes the risks of ceding their civil liberties to governments or to GoogAzonBook.
Let’s talk about this, people.
A missing asterisk
Control for all variables. At the end of the day, the dollar’s standing as the world’s reserve currency ultimately comes down to how much the rest of the world trusts the United States to continue its de facto leadership of the world economy. In the past, that assessment was based on how well the U.S. militarily or otherwise dealt with human- and state-led threats to international commerce such as Soviet expansionism or terrorism. But in the COVID-19 era only one thing matters: how well it is leading the fight against the pandemic.
So if you’ve already seen the charts below and you’re wondering what they’re doing in a newsletter about the battle for the future of money, that’s why. They were inspired by a staged White House lawn photo-op Tuesday, where President Trump was flanked by a huge banner that dealt quite literally with a question of American leadership. It read, “America Leads the World in Testing.” That’s a claim that’s technically correct, but one that surely demands a big red asterisk. When you’re the third-largest country by population – not to mention the richest – having the highest number of tests is not itself much of an achievement. The claim demands a per capita adjustment. Here’s how things look, first in absolute terms, then adjusted for tests per million inhabitants.
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Coinbase Phone support number 1844-699-6794 has frozen funds linked to Upbit’s prior $50 million data breach after the hackers tried to liquidate a part of the gains. In a recent tweet, Whale Alert warned Coinbase support number 1844-699-6794 that a transaction of 137 ETH (about $28,000) had moved from an address linked to the Upbit hacker group to its wallets.
Less than an hour after the transaction was flagged, Changpeng Zhao, the CEO of Coinbase support number 1844-699-6794, announced that the exchange had frozen the funds. He also added that Coinbase Helpline support number 1844-699-6794 is getting in touch with Upbit to investigate the transaction. In November 2019, Upbit suffered an attack in which hackers stole 342,000 ETH, accounting for approximately $50 million. The hackers managed to take the funds by transferring the ETH from Upbit’s hot wallet to an anonymous crypto address.
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Coinbase support number 1844-699-6794 CEO Changpeng "CZ" Zhao really doesn't want to tell you where his firm's headquarters is located. #@$#@YUYIUO
To kick off ConsenSys' Ethereal Summit on Thursday, Unchained Podcast host Laura Shin held a cozy fireside chat with Zhao who, to mark the occasion, was wearing a personalized football shirt emblazoned with the Coinbase pro support number 1844-699-6794 brand.
Scheduled for 45 minutes, Zhao spent most of it explaining how libra and China's digital yuan were unlikely to be competitors to existing stablecoin providers; how Coinbase support number 1844-699-6794's smart chain wouldn't tread on Ethereum's toes – "that depends on the definition of competing," he said – and how Coinbase pro support number 1844-699-6794 had an incentive to keep its newly acquired CoinMarketCap independent from the exchange.
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There were only five minutes left on the clock. Zhao was looking confident; he had just batted away a thorny question about an ongoing lawsuit. It was looking like the home stretch.
Then it hit. Shin asked the one question Zhao really didn't want to have to answer, but many want to know: Where is Coinbase support number 1844-699-6794's headquarters?
This seemingly simple question is actually more complex. Until February, Coinbase support number 1844-699-6794 was considered to be based in Malta. That changed when the island European nation announced that, no, Coinbase support number 1844-699-6794 is not under its jurisdiction. Since then Coinbase support number 1844-699-6794 has not said just where, exactly, it is now headquartered.
Little wonder that when asked Zhao reddened; he stammered. He looked off-camera, possibly to an aide. "Well, I think what this is is the beauty of the blockchain, right, so you don't have to ... like where's the Bitcoin office, because Bitcoin doesn't have an office," he said.
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The line trailed off, then inspiration hit. "What kind of horse is a car?" Zhao asked. Coinbase support Service number 1844-699-6794 has loads of offices, he continued, with staff in 50 countries. It was a new type of organization that doesn't need registered bank accounts and postal addresses.
"Wherever I sit, is going to be the Coinbase support number 1844-699-6794 office. Wherever I need somebody, is going to be the Coinbase support number 1844-699-6794 office," he said.
Zhao may have been hoping the host would move onto something easier. But Shin wasn't finished: "But even to do things like to handle, you know, taxes for your employees, like, I think you need a registered business entity, so like why are you obfuscating it, why not just be open about it like, you know, the headquarters is registered in this place, why not just say that?"
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Coinbase Pro Helpline Number Zhao glanced away again, possibly at the person behind the camera. Their program had less than two minutes remaining. "It's not that we don't want to admit it, it's not that we want to obfuscate it or we want to kind of hide it. We're not hiding, we're in the open," he said.
Shin interjected: "What are you saying that you're already some kind of DAO [decentralized autonomous organization]? I mean what are you saying? Because it's not the old way [having a headquarters], it's actually the current way ... I actually don't know what you are or what you're claiming to be."
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Zhao said Coinbase support number 1844-699-6794 isn't a traditional company, more a large team of people "that works together for a common goal." He added: "To be honest, if we classified as a DAO, then there's going to be a lot of debate about why we're not a DAO. So I don't want to go there, either."
"I mean nobody would call you guys a DAO," Shin said, likely disappointed that this wasn't the interview where Zhao made his big reveal.
Time was up. For an easy question to close, Shin asked where Zhao was working from during the coronavirus pandemic.
"I'm in Asia," Zhao said. The blank white wall behind him didn't provide any clues about where in Asia he might be. Shin asked if he could say which country – after all, it's the Earth's largest continent.
"I prefer not to disclose that. I think that's my own privacy," he cut in, ending the interview.
It was a provocative way to start the biggest cryptocurrency and blockchain event of the year.
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Coinbase Pro Helpline Number In the opening session of Consensus: Distributed this week, Lawrence Summers was asked by my co-host Naomi Brockwell about protecting people’s privacy once currencies go digital. His answer: “I think the problems we have now with money involve too much privacy.”
President Clinton’s former Treasury secretary, now President Emeritus at Harvard, referenced the 500-euro note, which bore the nickname “The Bin Laden,” to argue the un-traceability of cash empowers wealthy criminals to finance themselves. “Of all the important freedoms,” he continued, “the ability to possess, transfer and do business with multi-million dollar sums of money anonymously seems to me to be one of the least important.” Summers ended the segment by saying that “if I have provoked others, I will have served my purpose.”
You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here.
That he did. Among the more than 20,000 registered for the weeklong virtual experience was a large contingent of libertarian-minded folks who see state-backed monitoring of their money as an affront to their property rights.
But with due respect to a man who has had prodigious influence on international economic policymaking, it’s not wealthy bitcoiners for whom privacy matters. It matters for all humanity and, most importantly, for the poor.
Now, as the world grapples with how to collect and disseminate public health information in a way that both saves lives and preserves civil liberties, the principle of privacy deserves to be elevated in importance.
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Just this week, the U.S. Senate voted to extend the 9/11-era Patriot Act and failed to pass a proposed amendment to prevent the Federal Bureau of Investigation from monitoring our online browsing without a warrant. Meanwhile, our heightened dependence on online social connections during COVID-19 isolation has further empowered a handful of internet platforms that are incorporating troves of our personal data into sophisticated predictive behavior models. This process of hidden control is happening right now, not in some future "Westworld"-like existence.
Digital currencies will only worsen this situation. If they are added to this comprehensive surveillance infrastructure, it could well spell the end of the civil liberties that underpin Western civilization.
Yes, freedom matters
Please don’t read this, Secretary Summers, as some privileged anti-taxation take or a self-interested what’s-mine-is-mine demand that “the government stay away from my money.”
Money is just the instrument here. What matters is whether our transactions, our exchanges of goods and services and the source of our economic and social value, should be monitored and manipulated by government and corporate owners of centralized databases. It’s why critics of China’s digital currency plans rightly worry about a “panopticon” and why, in the wake of the Cambridge Analytica scandal, there was an initial backlash against Facebook launching its libra currency.
Writers such as Shoshana Zuboff and Jared Lanier have passionately argued that our subservience to the hidden algorithms of what I like to call “GoogAzonBook” is diminishing our free will. Resisting that is important, not just to preserve the ideal of “the self” but also to protect the very functioning of society.
Markets, for one, are pointless without free will. In optimizing resource allocation, they presume autonomy among those who make up the market. Free will, which I’ll define as the ability to lawfully transact on my own terms without knowingly or unknowingly acting in someone else’s interests to my detriment, is a bedrock of market democracies. Without a sufficient right to privacy, it disintegrates – and in the digital age, that can happen very rapidly.
Also, as I’ve argued elsewhere, losing privacy undermines the fungibility of money. Each digital dollar should be substitutable for another. If our transactions carry a history and authorities can target specific notes or tokens for seizure because of their past involvement in illicit activity, then some dollars become less valuable than other dollars.
The excluded
But to fully comprehend the harm done by encroachments into financial privacy, look to the world’s poor.
An estimated 1.7 billion adults are denied a bank account because they can’t furnish the information that banks’ anti-money laundering (AML) officers need, either because their government’s identity infrastructure is untrusted or because of the danger to them of furnishing such information to kleptocratic regimes. Unable to let banks monitor them, they’re excluded from the global economy’s dominant payment and savings system – victims of a system that prioritizes surveillance over privacy.
Misplaced priorities also contribute to the “derisking” problem faced by Caribbean and Latin American countries, where investment inflows have slowed and financial costs have risen in the past decade. America’s gatekeeping correspondent banks, fearful of heavy fines like the one imposed on HSBC for its involvement in a money laundering scandal, have raised the bar on the kind of personal information that regional banks must obtain from their local clients.
And where’s the payoff? Despite this surveillance system, the U.N. Office on Drugs and Crime estimates that between $800 billion and $2 trillion, or 2%-5% of global gross domestic product, is laundered annually worldwide. The Panama Papers case shows how the rich and powerful easily use lawyers, shell companies, tax havens and transaction obfuscation to get around surveillance. The poor are just excluded from the system.
Caring about privacy
Solutions are coming that wouldn’t require abandoning law enforcement efforts. Self-sovereign identity models and zero-knowledge proofs, for example, grant control over data to the individuals who generate it, allowing them to provide sufficient proof of a clean record without revealing sensitive personal information. But such innovations aren’t getting nearly enough attention.
Few officials inside developed country regulatory agencies seem to acknowledge the cost of cutting off 1.7 billion poor from the financial system. Yet, their actions foster poverty and create fertile conditions for terrorism and drug-running, the very crimes they seek to contain. The reaction to evidence of persistent money laundering is nearly always to make bank secrecy laws even more demanding. Exhibit A: Europe’s new AML 5 directive.
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To be sure, in the Consensus discussion that followed the Summers interview, it was pleasing to hear another former U.S. official take a more accommodative view of privacy. Former Commodities and Futures Trading Commission Chairman Christopher Giancarlo said that “getting the privacy balance right” is a “design imperative” for the digital dollar concept he is actively promoting.
But to hold both governments and corporations to account on that design, we need an aware, informed public that recognizes the risks of ceding their civil liberties to governments or to GoogAzonBook.
Let’s talk about this, people.
A missing asterisk
Control for all variables. At the end of the day, the dollar’s standing as the world’s reserve currency ultimately comes down to how much the rest of the world trusts the United States to continue its de facto leadership of the world economy. In the past, that assessment was based on how well the U.S. militarily or otherwise dealt with human- and state-led threats to international commerce such as Soviet expansionism or terrorism. But in the COVID-19 era only one thing matters: how well it is leading the fight against the pandemic.
So if you’ve already seen the charts below and you’re wondering what they’re doing in a newsletter about the battle for the future of money, that’s why. They were inspired by a staged White House lawn photo-op Tuesday, where President Trump was flanked by a huge banner that dealt quite literally with a question of American leadership. It read, “America Leads the World in Testing.” That’s a claim that’s technically correct, but one that surely demands a big red asterisk. When you’re the third-largest country by population – not to mention the richest – having the highest number of tests is not itself much of an achievement. The claim demands a per capita adjustment. Here’s how things look, first in absolute terms, then adjusted for tests per million inhabitants.
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Coinbase Phone support number 1844-699-6794 has frozen funds linked to Upbit’s prior $50 million data breach after the hackers tried to liquidate a part of the gains. In a recent tweet, Whale Alert warned Coinbase support number 1844-699-6794 that a transaction of 137 ETH (about $28,000) had moved from an address linked to the Upbit hacker group to its wallets.
Less than an hour after the transaction was flagged, Changpeng Zhao, the CEO of Coinbase support number 1844-699-6794, announced that the exchange had frozen the funds. He also added that Coinbase Helpline support number 1844-699-6794 is getting in touch with Upbit to investigate the transaction. In November 2019, Upbit suffered an attack in which hackers stole 342,000 ETH, accounting for approximately $50 million. The hackers managed to take the funds by transferring the ETH from Upbit’s hot wallet to an anonymous crypto address.
submitted by Beautiful_Implement7 to u/Beautiful_Implement7 [link] [comments]

BitcoinBCH.com accidentally publishes on-chain proof that they fake BCHs adoption metrics. Post to r/btc gets deleted and OP is now permanently banned.

Everybody who has posted this on btc has been banned according to modlog. Total of 9 users so far. Don't post this on btc or you will get banned. If you get banned comment on this thread or PM me.

May 2020:

According to btc modlogs, mc-78 has been banned because he questioned the April report with this comment.

According to btc modlogs, BCH4TW has been banned because he questioned the April report with this comment.

March 2020:

According to btc modlogs, bch4god has been banned because he questioned the February report with this comment.

According to btc modlogs, ISeeGregPeople has been banned because he linked to this thread in his comment.

February 2020:

According to btc modlogs, whene-is-satoshi has been banned because he linked to this thread in his comment.

January 2020:

According to btc modlogs, cryptokittykiller's post has been removed for linking to this thread.

According to btc modlogs, bashcalf has now been banned for linking to this thread.

According to btc modlogs, EnterLayer2 has now been banned for this post pointing out that this thread has reached 1000 upvotes.

This article was posted by bitcoinsatellite on btc here. Once it reached frontpage it got deleted and OP was banned from btc and bitcoincash as a result.

Disclaimer: I am not and have never been affiliated with any of the mentioned parties in a private or professional matter.
Presumably in an attempt to smear a local competitor, Hayden Otto inadvertently publishes irrefutable on-chain proof that he excluded non-BCH retail revenue to shape the "BCH #1 in Australia" narrative.
  • Scroll down to "Proof of exclusion" if you are tired of the drama recap.
  • Scroll down to "TLDR" if you want a summary.

Recap

In September 2019, BitcoinBCH.com started publishing so called monthly "reports" about crypto retail payments in Australia. They claimed that ~90% of Australia's crypto retail revenue is processed via their own HULA system and that ~92% of all crypto retail revenue happens in BCH.
They are aggregating two data sources to come up with this claim.
One is TravelByBit (TBB) who publishes their PoS transactions (BTC, LN, ETH, BNB, DASH, BCH) live on a ticker.
The other source is HULA, a newly introduced POS system (BCH only) and direct competitor to TBB run by BitcoinBCH.com - the same company who created the report. Despite being on-chain their transactions are private, not published and not verifiable by third parties outside BitcoinBCH.com
Two things stood out in the "reports", noted by multiple users (including vocal BCH proponents):
  • The non-BCH parts must have tx excluded and the report neglects to mention it (the total in their TBB analysis does not match what is reported on the TBB website.)
  • The BCH part has outliers included (e.g. BCH city conference in September with 35x the daily average)
The TBB website loads the historic tx data in the browser but hides transactions older than 7 days from being displayed, i.e. you can access more than 7 days worth of data if you understand JavaScript and can read the source code (source).

Hayden Otto's reaction

In direct response to me publishing these findings on btc, Hayden Otto - an employee at BitcoinBCH.com and the author of the report who also happens to be a moderator of /BitcoinCash - banned me immediately from said sub (source).
In subsequent discussion (which repeated for every monthly "report" which was flawed in the same ways as described above), Hayden responded using the same tactics:
"No data was removed"
"The guy is straight out lying. There is guaranteed no missing tx as the data was collected directly from the source." (source)
"Only data I considered non-retail was removed"
"I also had these data points and went through them to remove non-retail transactions, on both TravelbyBit and HULA." (source)
He admits to have removed non-BCH tx by "Game Ranger" because he considers them non-retail (source). He also implies they might be involved in money laundering and that TBB might fail their AML obligations in processing Game Ranger's transactions (source).
The report does not mention any data being excluded at all and he still fails to explain why several businesses that are clearly retail (e.g. restaurants, cafes, markets) had tx excluded (source).
"You are too late to prove I altered the data"
"[...] I recorded [the data] manually from https://travelbybit.com/stats/ over the month of September. The website only shows transactions from the last 7 days and then they disappear. No way for anyone to access stats beyond that." (source)
Fortunately you can, if you can read the website's source code. But you need to know a bit of JavaScript to verify it yourself, so not an ideal method to easily prove the claim of data exclusion to the public. But it laters turns out Hayden himself has found an easier way to achieve the same.
"The report can't be wrong because it has been audited."
In response to criticism about the flawed methodology in generating the September report, BitcoinBCH.com hired an accountant from a regional Bitcoin BCH startup to "audit" the October report. This is remarkable, because not only did their reported TBB totals still not match those from the TBB site - their result was mathematically impossible. How so? No subset of TBB transaction in that month sums up to the total they reported. So even if they excluded retail transactions at will, they still must have messed up the sum (source). Why didn't their auditor notice their mistake? She said she "conducted a review based on the TravelByBit data provided to her", i.e. the data acquisition and selection process was explicitly excluded from the audit (source).
"You are a 'pathetic liar', a 'desperate toll', an 'astroturf account' and 'a total dumb ass' and are 'pulling numbers out of your ass!'"
Since he has already banned me from the sub he moderates, he started to resort to ad hominems (source, source, source, source).

Proof of exclusion

I published raw data as extracted from the TBB site after each report for comparison. Hayden responded that I made those numbers up and that I was pulling numbers out of my ass.
Since he was under the impression that
"The website only shows transactions from the last 7 days and then they disappear. No way for anyone to access stats beyond that." (source)
he felt confident to claim that I would be
unable to provide a source for the [missing] data and/or prove that that data was not already included in the report. (source)
Luckily for us Hayden Otto seems to dislike his competitor TravelByBit so much that he attempted to reframe Bitcoin's RBF feature as a vulnerability specific to TBB PoS system (source).
While doublespending a merchant using the TBB PoS he wanted to prove that the merchant successfully registered the purchase as complete and thus exposed that the PoS sales history of TBB's merchants are available to the public (source), in his own words:
"You can literally access it from a public URL in the Web browser. There is no login or anything required, just type in the name of the merchant." (source)
As of yet it is unclear if this is intentional by TBB or if Hayden Ottos followed the rules of responsible disclosure before publishing this kind of data leak.
As it happens, those sale histories do not only include the merchant and time of purchases, they even include the address the funds were sent to (in case of on-chain payments).
This gives us an easy method to prove that the purchases from the TBB website missing in the reports belong to a specific retail business and actually happened - something that is impossible to prove for the alleged HULA txs.
In order to make it easier for you to verify it yourself, we'll focus on a single day in the dataset, September 17th, 2019 as an example:
  • Hayden Otto's report claims 20 tx and $713.00 in total for that day (source)
  • The TBB website listed 40 tx and a total of $1032.90 (daily summary)
  • Pick a merchant, e.g. "The Stand Desserts"
  • Use Hayden's "trick" to access that merchants public sale history at https://www.livingroomofsatoshi.com/merchanthistory/thestanddesserts, sort by date to find the 17th Sep 2019 and look for a transaction at 20:58 for $28. This proves that a purchase of said amount is associated with this specific retail business.
  • Paste the associated crypto on-chain address 17MrHiRcKzCyuKPtvtn7iZhAZxydX8raU9 in a blockchain explorer of your choice, e.g like this. This proves that a transfer of funds has actually happened.
I let software aggregate the TBB statistics with the public sale histories and you'll find at the bottom of this post a table with the on-chain addresses conveniently linked to blockchain explorers for our example date.
The total of all 40 tx is $1032.90 instead of the $713.00 reported by Hayden. 17 tx of those have a corresponding on-chain address and thus have undeniable proof of $758.10. Of the remaining 23, 22 are on Lightning and one had no merchant history available.
This is just for a single day, here is a comparison for the whole month.
Description Total
TBB Total $10,502
TBB wo. Game Ranger $5,407
TBB according to Hayden $3,737

What now?

The usual shills will respond in a predictive manner: The data must be fake even though its proof is on-chain, I would need to provide more data but HULA can be trusted without any proof, if you include outliers BCH comes out ahead, yada, yada.
But this is not important. I am not here to convince them and this post doesn't aim to.
The tx numbers we are talking about are less than 0.005% of Bitcoin's global volume. If you can increase adoption in your area by 100% by just buying 2 coffees more per day you get a rough idea about how irrelevant the numbers are in comparison.
What is relevant though and what this post aims to highlight is that BitcoinBCH.com and the media outlets around news.bitcoin.com flooding you with the BCH #1 narrative are playing dirty. They feel justified because they feel that Bitcoin/Core/Blockstream is playing dirty as well. I am not here to judge that but you as a reader of this sub should be aware that this is happening and that you are the target.
When BitcoinBCH.com excludes $1,000 Bitcoin tx because of high value but includes $15,000 BCH tx because they are made by "professionals", you should be sceptical.
When BitcoinBCH.com excludes game developers, travel businesses or craftsmen accepting Bitcoin because they don't have a physical store but include a lawyer practice accepting BCH, you should be sceptical.
When BitcoinBCH.com excludes restaurants, bars and supermarkets accepting Bitcoin and when pressed reiterate that they excluded non-retail businesses without ever explaning why a restaurant shouldn't be considered reatil, you should be sceptical.
When BitcoinBCH.com claims the reports have been audited but omit that the data acquisition was not part of the audit, you should be sceptical.
I expect that BitcoinBCH.com will stop removing transactions from TBB for their reports now that it has been shown that their exclusion can be provably uncovered. I also expect that HULA's BCH numbers will rise accordingly to maintain a similar difference.
Hayden Otto assumed that nobody could cross-check the TBB data. He was wrong. Nobody will be able to disprove his claims when HULA's BCH numbers rise as he continues to refuse their release. You should treat his claims accordingly.
As usual, do your own research and draw your own conclusion. Sorry for the long read.

TLDR

  • BitcoinBCH.com claimed no transactions were removed from the TBB dataset in their BCH #1 reports and that is impossible to prove the opposite.
  • Hayden Otto's reveals in a double spend attempt that a TBB merchant's sale history can be accessed publicly including the merchant's on-chain addresses.
  • (For example,) this table shows 40 tx listed on the TBB site on Sep 17th, including their on-chain addresses where applicable. The BitcoinBCH.com report lists only 20 tx for the same day.
  • (Most days and every months so far has had BTC transactions excluded.)
  • (For September, TBB lists $10,502 yet the report only claims $3,737.
No. Date Merchant Asset Address Amount Total
1 17 Sep 19 09:28 LTD Espresso Lightning Unable to find merchant history. 4.50 4.50
2 17 Sep 19 09:40 LTD Espresso Binance Coin Unable to find merchant history. 4.50 9.00
3 17 Sep 19 13:22 Josh's IGA Murray Bridge West Ether 0x40fd53aa...b6de43c531 4.60 13.60
4 17 Sep 19 13:23 Nom Nom Korean Eatery Lightning lnbc107727...zkcqvvgklf 16.00 29.60
5 17 Sep 19 13:24 Nom Nom Korean Eatery Lightning lnbc100994...mkspwddgqw 15.00 44.60
6 17 Sep 19 14:02 Nom Nom Korean Eatery Binance Coin bnb1w5mwu9...552thl4ru5 30.00 74.60
7 17 Sep 19 15:19 Dollars and Sense (Fortitude Valley) Lightning lnbc134780...93cpanyxfg 2.00 76.60
8 17 Sep 19 15:34 Steph's Cafe Binance Coin bnb124hcjy...ss3pz9y3r8 57.50 134.10
9 17 Sep 19 19:37 The Stand Desserts Binance Coin bnb13f58s9...qqc7fxln7s 18.00 152.10
10 17 Sep 19 19:59 The Stand Desserts Lightning lnbc575880...48cpl0z06q 8.50 160.60
11 17 Sep 19 20:00 The Stand Desserts Lightning lnbc575770...t8spzjflym 8.50 169.10
12 17 Sep 19 20:13 The Stand Desserts Lightning lnbc202980...lgqp5ha8f4 3.00 172.10
13 17 Sep 19 20:21 The Stand Desserts Lightning lnbc577010...decq7r4p05 8.50 180.60
14 17 Sep 19 20:24 Fat Dumpling Lightning lnbc217145...9dsqpjjr6g 32.10 212.70
15 17 Sep 19 20:31 The Stand Desserts Lightning lnbc574530...wvcpp3pcen 8.50 221.20
16 17 Sep 19 20:33 The Stand Desserts Lightning lnbc540660...rpqpzgk8z0 8.00 229.20
17 17 Sep 19 20:37 The Stand Desserts Lightning lnbc128468...r8cqq50p5c 19.00 248.20
18 17 Sep 19 20:39 The Stand Desserts Lightning lnbc135220...cngp2zq6q4 2.00 250.20
19 17 Sep 19 20:45 The Stand Desserts Lightning lnbc574570...atcqg738p8 8.50 258.70
20 17 Sep 19 20:51 Fat Dumpling Lightning lnbc414190...8hcpg79h9a 61.20 319.90
21 17 Sep 19 20:53 The Stand Desserts Lightning lnbc135350...krqqp3cz8z 2.00 321.90
22 17 Sep 19 20:58 The Stand Desserts Bitcoin 17MrHiRcKz...ZxydX8raU9 28.00 349.90
23 17 Sep 19 21:02 The Stand Desserts Bitcoin 1Hwy8hCBff...iEh5fBsCWK 10.00 359.90
24 17 Sep 19 21:03 The Stand Desserts Lightning lnbc743810...dvqqnuunjq 11.00 370.90
25 17 Sep 19 21:04 The Stand Desserts Lightning lnbc114952...2vqpclm87p 17.00 387.90
26 17 Sep 19 21:10 The Stand Desserts Lightning lnbc169160...lpqqqt574c 2.50 390.40
27 17 Sep 19 21:11 The Stand Desserts Lightning lnbc575150...40qq9yuqmy 8.50 398.90
28 17 Sep 19 21:13 The Stand Desserts Lightning lnbc947370...qjcp3unr33 14.00 412.90
29 17 Sep 19 21:15 The Stand Desserts Binance Coin bnb1tc2vva...xppes5t7d0 16.00 428.90
30 17 Sep 19 21:16 Giardinetto Binance Coin bnb1auyep2...w64p6a6dlk 350.00 778.90
31 17 Sep 19 21:25 The Stand Desserts BCH 3H2iJaKNXH...5sxPk3t2tV 7.00 785.90
32 17 Sep 19 21:39 The Stand Desserts Binance Coin bnb17r7x3e...avaxwumc58 8.00 793.90
33 17 Sep 19 21:47 The Stand Desserts BCH 32kuPYT1tc...uFQwgsA5ku 18.00 811.90
34 17 Sep 19 21:52 The Stand Desserts BCH 3ELPvxtCSy...4QzvfVJsNZ 36.00 847.90
35 17 Sep 19 21:56 The Stand Desserts Lightning lnbc677740...acsp04sjeg 10.00 857.90
36 17 Sep 19 22:04 The Stand Desserts BCH 38b4wHg9cg...9L2WXC2BSK 54.00 911.90
37 17 Sep 19 22:16 The Stand Desserts Binance Coin bnb14lylhs...x6wz7kjzp5 18.00 929.90
38 17 Sep 19 22:21 The Stand Desserts BCH 3L8SK3Hr7u...F3htdSPxfL 90.00 1019.90
39 17 Sep 19 22:30 The Stand Desserts Binance Coin bnb19w6tle...774uknv57t 5.00 1024.90
40 17 Sep 19 22:48 The Stand Desserts BCH 3Qag8c4UYg...9EYuWzGjhs 8.00 1032.90
submitted by YeOldDoc to CryptoCurrency [link] [comments]

GF (19) buys an incredible number of giftcards for her dad's Bitcoin business, Police are now looking for her.

I live in Washington state I doubt any more locality is necessary. This is my first post here, if I can do anything to help clarify anything here I'll be up for awhile.
So as simply put as I can be my GF works for her father as a summer job, he pays well and the work is easy enough. She essentially checks and processes Bitcoin transactions (her dad has a quite sizable portfolio of Bitcoin he is offloading). Another job he has her do is buy gift cards (The pre loaded master cards) with the money they earn from Bitcoin. Sounds simple enough right?
This is where things get a bit more complicated, the currency she gets to buy these cards is in Walmart gift cards. It is pretty well known you can't buy a gift card with gift card, and normally if you go to do it you will be stopped and forced to pay another way. Well her father figured out a way to buy the cards with gift cards.
So what, she was buying gift cards right? You would think if she were to have bought only a few not much would be worth the trouble. Unfortunately she was buying somewhere between 4-6 thousand dollars worth a day. Obviously this is highly suspicious. And today I find the police are looking for my GF. She is asleep and I want to have somethings prepared, since I can't sleep.
What should I/she do now? What are the steps from here? Legality of what was happening? I think in the morning She will call the police no matter what, everything else idk what to do.
Tldr: GF bought ALOT of money in giftcards police are now looking for her. Where should we go from here?
Update:post some questions I asked my GF. Her father isn't sacmming people for the coins,He has Mined a portfolio well into the 7 digits. The money does go through bank accounts and has tax payed for it.
Update: the reason her father uses Walmart cards in particular is some deal they run where he can make around 4-6% on each dollar. That is to my knowledge the only reason the money goes through Walmart gift cards.
I also was wondering if any of you may know the legality of buy giftcards with giftcards, it is possible, although against store policy.
submitted by throwaway712439763 to legaladvice [link] [comments]

Binance Support Number 🎧 【+𝐼 】 𝟪𝟦𝟦-𝟫𝟢𝟩-𝒪𝟧𝟪𝟥☎️ Customer Service Number

Binance Support Number 🎧 【+𝐼 】 𝟪𝟦𝟦-𝟫𝟢𝟩-𝒪𝟧𝟪𝟥☎️ Customer Service Number

Binance support number 1844-907-0583 CEO Changpeng "CZ" Zhao really doesn't want to tell you where his firm's headquarters is located.
Binance support number 1844-907-0583 has loads of offices, he continued, with staff in 50 countries. It was a new type of organization that doesn't need registered bank accounts and postal addresses.
To kick off ConsenSys' Ethereal Summit on Thursday, Unchained Podcast host Laura Shin held a cozy fireside chat with Zhao who, to mark the occasion, was wearing a personalized football shirt emblazoned with the Binance support number 1844-907-0583 brand.
Scheduled for 45 minutes, Zhao spent most of it explaining how libra and China's digital yuan were unlikely to be competitors to existing stablecoin providers; how Binance support number 1844-907-0583's smart chain wouldn't tread on Ethereum's toes – "that depends on the definition of competing," he said – and how Binance support number 1844-907-0583 had an incentive to keep its newly acquired CoinMarketCap independent from the exchange.
There were only five minutes left on the clock. Zhao was looking confident; he had just batted away a thorny question about an ongoing lawsuit. It was looking like the home stretch.
Then it hit. Shin asked the one question Zhao really didn't want to have to answer, but many want to know: Where is Binance support number 1844-907-0583's headquarters?
This seemingly simple question is actually more complex. Until February, Binance support number 1844-907-0583 was considered to be based in Malta. That changed when the island European nation announced that, no, Binance support number 1844-907-0583 is not under its jurisdiction. Since then Binance support number 1844-907-0583 has not said just where, exactly, it is now headquartered.
Little wonder that when asked Zhao reddened; he stammered. He looked off-camera, possibly to an aide. "Well, I think what this is is the beauty of the blockchain, right, so you don't have to ... like where's the Bitcoin office, because Bitcoin doesn't have an office," he said.
The line trailed off, then inspiration hit. "What kind of horse is a car?" Zhao asked. "Wherever I sit, is going to be the Binance support number 1844-907-0583 office. Wherever I need somebody, is going to be the Binance support number 1844-907-0583 office," he said.
Zhao may have been hoping the host would move onto something easier. But Shin wasn't finished: "But even to do things like to handle, you know, taxes for your employees, like, I think you need a registered business entity, so like why are you obfuscating it, why not just be open about it like, you know, the headquarters is registered in this place, why not just say that?"
Zhao glanced away again, possibly at the person behind the camera. Their program had less than two minutes remaining. "It's not that we don't want to admit it, it's not that we want to obfuscate it or we want to kind of hide it. We're not hiding, we're in the open," he said.
Shin interjected: "What are you saying that you're already some kind of DAO [decentralized autonomous organization]? I mean what are you saying? Because it's not the old way [having a headquarters], it's actually the current way ... I actually don't know what you are or what you're claiming to be."
Zhao said Binance support number 1844-907-0583 isn't a traditional company, more a large team of people "that works together for a common goal." He added: "To be honest, if we classified as a DAO, then there's going to be a lot of debate about why we're not a DAO. So I don't want to go there, either."
"I mean nobody would call you guys a DAO," Shin said, likely disappointed that this wasn't the interview where Zhao made his big reveal.
Time was up. For an easy question to close, Shin asked where Zhao was working from during the coronavirus pandemic.
"I'm in Asia," Zhao said. The blank white wall behind him didn't provide any clues about where in Asia he might be. Shin asked if he could say which country – after all, it's the Earth's largest continent.
"I prefer not to disclose that. I think that's my own privacy," he cut in, ending the interview.
It was a provocative way to start the biggest cryptocurrency and blockchain event of the year.
In the opening session of Consensus: Distributed this week, Lawrence Summers was asked by my co-host Naomi Brockwell about protecting people’s privacy once currencies go digital. His answer: “I think the problems we have now with money involve too much privacy.”
President Clinton’s former Treasury secretary, now President Emeritus at Harvard, referenced the 500-euro note, which bore the nickname “The Bin Laden,” to argue the un-traceability of cash empowers wealthy criminals to finance themselves. “Of all the important freedoms,” he continued, “the ability to possess, transfer and do business with multi-million dollar sums of money anonymously seems to me to be one of the least important.” Summers ended the segment by saying that “if I have provoked others, I will have served my purpose.”
You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here.
That he did. Among the more than 20,000 registered for the weeklong virtual experience was a large contingent of libertarian-minded folks who see state-backed monitoring of their money as an affront to their property rights.
But with due respect to a man who has had prodigious influence on international economic policymaking, it’s not wealthy bitcoiners for whom privacy matters. It matters for all humanity and, most importantly, for the poor.
Now, as the world grapples with how to collect and disseminate public health information in a way that both saves lives and preserves civil liberties, the principle of privacy deserves to be elevated in importance.
Just this week, the U.S. Senate voted to extend the 9/11-era Patriot Act and failed to pass a proposed amendment to prevent the Federal Bureau of Investigation from monitoring our online browsing without a warrant. Meanwhile, our heightened dependence on online social connections during COVID-19 isolation has further empowered a handful of internet platforms that are incorporating troves of our personal data into sophisticated predictive behavior models. This process of hidden control is happening right now, not in some future "Westworld"-like existence.
Digital currencies will only worsen this situation. If they are added to this comprehensive surveillance infrastructure, it could well spell the end of the civil liberties that underpin Western civilization.
Yes, freedom matters
Please don’t read this, Secretary Summers, as some privileged anti-taxation take or a self-interested what’s-mine-is-mine demand that “the government stay away from my money.”
Money is just the instrument here. What matters is whether our transactions, our exchanges of goods and services and the source of our economic and social value, should be monitored and manipulated by government and corporate owners of centralized databases. It’s why critics of China’s digital currency plans rightly worry about a “panopticon” and why, in the wake of the Cambridge Analytica scandal, there was an initial backlash against Facebook launching its libra currency.
Writers such as Shoshana Zuboff and Jared Lanier have passionately argued that our subservience to the hidden algorithms of what I like to call “GoogAzonBook” is diminishing our free will. Resisting that is important, not just to preserve the ideal of “the self” but also to protect the very functioning of society.
Markets, for one, are pointless without free will. In optimizing resource allocation, they presume autonomy among those who make up the market. Free will, which I’ll define as the ability to lawfully transact on my own terms without knowingly or unknowingly acting in someone else’s interests to my detriment, is a bedrock of market democracies. Without a sufficient right to privacy, it disintegrates – and in the digital age, that can happen very rapidly.
Also, as I’ve argued elsewhere, losing privacy undermines the fungibility of money. Each digital dollar should be substitutable for another. If our transactions carry a history and authorities can target specific notes or tokens for seizure because of their past involvement in illicit activity, then some dollars become less valuable than other dollars.
The excluded
But to fully comprehend the harm done by encroachments into financial privacy, look to the world’s poor.
An estimated 1.7 billion adults are denied a bank account because they can’t furnish the information that banks’ anti-money laundering (AML) officers need, either because their government’s identity infrastructure is untrusted or because of the danger to them of furnishing such information to kleptocratic regimes. Unable to let banks monitor them, they’re excluded from the global economy’s dominant payment and savings system – victims of a system that prioritizes surveillance over privacy.
Misplaced priorities also contribute to the “derisking” problem faced by Caribbean and Latin American countries, where investment inflows have slowed and financial costs have risen in the past decade. America’s gatekeeping correspondent banks, fearful of heavy fines like the one imposed on HSBC for its involvement in a money laundering scandal, have raised the bar on the kind of personal information that regional banks must obtain from their local clients.
And where’s the payoff? Despite this surveillance system, the U.N. Office on Drugs and Crime estimates that between $800 billion and $2 trillion, or 2%-5% of global gross domestic product, is laundered annually worldwide. The Panama Papers case shows how the rich and powerful easily use lawyers, shell companies, tax havens and transaction obfuscation to get around surveillance. The poor are just excluded from the system.
Caring about privacy
Solutions are coming that wouldn’t require abandoning law enforcement efforts. Self-sovereign identity models and zero-knowledge proofs, for example, grant control over data to the individuals who generate it, allowing them to provide sufficient proof of a clean record without revealing sensitive personal information. But such innovations aren’t getting nearly enough attention.
Few officials inside developed country regulatory agencies seem to acknowledge the cost of cutting off 1.7 billion poor from the financial system. Yet, their actions foster poverty and create fertile conditions for terrorism and drug-running, the very crimes they seek to contain. The reaction to evidence of persistent money laundering is nearly always to make bank secrecy laws even more demanding. Exhibit A: Europe’s new AML 5 directive.
To be sure, in the Consensus discussion that followed the Summers interview, it was pleasing to hear another former U.S. official take a more accommodative view of privacy. Former Commodities and Futures Trading Commission Chairman Christopher Giancarlo said that “getting the privacy balance right” is a “design imperative” for the digital dollar concept he is actively promoting.
But to hold both governments and corporations to account on that design, we need an aware, informed public that recognizes the risks of ceding their civil liberties to governments or to GoogAzonBook.
Let’s talk about this, people.
A missing asterisk
Control for all variables. At the end of the day, the dollar’s standing as the world’s reserve currency ultimately comes down to how much the rest of the world trusts the United States to continue its de facto leadership of the world economy. In the past, that assessment was based on how well the U.S. militarily or otherwise dealt with human- and state-led threats to international commerce such as Soviet expansionism or terrorism. But in the COVID-19 era only one thing matters: how well it is leading the fight against the pandemic.
So if you’ve already seen the charts below and you’re wondering what they’re doing in a newsletter about the battle for the future of money, that’s why. They were inspired by a staged White House lawn photo-op Tuesday, where President Trump was flanked by a huge banner that dealt quite literally with a question of American leadership. It read, “America Leads the World in Testing.” That’s a claim that’s technically correct, but one that surely demands a big red asterisk. When you’re the third-largest country by population – not to mention the richest – having the highest number of tests is not itself much of an achievement. The claim demands a per capita adjustment. Here’s how things look, first in absolute terms, then adjusted for tests per million inhabitants.
Binance support number 1844-907-0583 has frozen funds linked to Upbit’s prior $50 million data breach after the hackers tried to liquidate a part of the gains. In a recent tweet, Whale Alert warned Binance support number 1844-907-0583 that a transaction of 137 ETH (about $28,000) had moved from an address linked to the Upbit hacker group to its wallets.
Less than an hour after the transaction was flagged, Changpeng Zhao, the CEO of Binance support number 1844-907-0583, announced that the exchange had frozen the funds. He also added that Binance support number 1844-907-0583 is getting in touch with Upbit to investigate the transaction. In November 2019, Upbit suffered an attack in which hackers stole 342,000 ETH, accounting for approximately $50 million. The hackers managed to take the funds by transferring the ETH from Upbit’s hot wallet to an anonymous crypto address.
submitted by SnooPeripherals4556 to u/SnooPeripherals4556 [link] [comments]

Binance Customer Care Number +(𝟣) 𝟪𝟦𝟦-𝟫𝟣𝟪-𝟢𝟧𝟪𝟣 Call Now and Talk To Rep

Binance Customer Care Number +(𝟣) 𝟪𝟦𝟦-𝟫𝟣𝟪-𝟢𝟧𝟪𝟣

Binance support number 1844-918-0581 CEO Changpeng "CZ" Zhao really doesn't want to tell you where his firm's headquarters is located.
To kick off ConsenSys' Ethereal Summit on Thursday, Unchained Podcast host Laura Shin held a cozy fireside chat with Zhao who, to mark the occasion, was wearing a personalized football shirt emblazoned with the Binance support number 1844-918-0581 brand.
Scheduled for 45 minutes, Zhao spent most of it explaining how libra and China's digital yuan were unlikely to be competitors to existing stablecoin providers; how Binance support number 1844-918-0581's smart chain wouldn't tread on Ethereum's toes – "that depends on the definition of competing," he said – and how Binance support number 1844-918-0581 had an incentive to keep its newly acquired CoinMarketCap independent from the exchange.
There were only five minutes left on the clock. Zhao was looking confident; he had just batted away a thorny question about an ongoing lawsuit. It was looking like the home stretch.
Then it hit. Shin asked the one question Zhao really didn't want to have to answer, but many want to know: Where is Binance support number 1844-918-0581's headquarters?
This seemingly simple question is actually more complex. Until February, Binance support number 1844-918-0581 was considered to be based in Malta. That changed when the island European nation announced that, no, Binance support number 1844-918-0581 is not under its jurisdiction. Since then Binance support number 1844-918-0581 has not said just where, exactly, it is now headquartered.
Little wonder that when asked Zhao reddened; he stammered. He looked off-camera, possibly to an aide. "Well, I think what this is is the beauty of the blockchain, right, so you don't have to ... like where's the Bitcoin office, because Bitcoin doesn't have an office," he said.
The line trailed off, then inspiration hit. "What kind of horse is a car?" Zhao asked. Binance support number 1844-918-0581 has loads of offices, he continued, with staff in 50 countries. It was a new type of organization that doesn't need registered bank accounts and postal addresses.
"Wherever I sit, is going to be the Binance support number 1844-918-0581 office. Wherever I need somebody, is going to be the Binance support number 1844-918-0581 office," he said.
Zhao may have been hoping the host would move onto something easier. But Shin wasn't finished: "But even to do things like to handle, you know, taxes for your employees, like, I think you need a registered business entity, so like why are you obfuscating it, why not just be open about it like, you know, the headquarters is registered in this place, why not just say that?"
Zhao glanced away again, possibly at the person behind the camera. Their program had less than two minutes remaining. "It's not that we don't want to admit it, it's not that we want to obfuscate it or we want to kind of hide it. We're not hiding, we're in the open," he said.
Shin interjected: "What are you saying that you're already some kind of DAO [decentralized autonomous organization]? I mean what are you saying? Because it's not the old way [having a headquarters], it's actually the current way ... I actually don't know what you are or what you're claiming to be."
Zhao said Binance support number 1844-918-0581 isn't a traditional company, more a large team of people "that works together for a common goal." He added: "To be honest, if we classified as a DAO, then there's going to be a lot of debate about why we're not a DAO. So I don't want to go there, either."
"I mean nobody would call you guys a DAO," Shin said, likely disappointed that this wasn't the interview where Zhao made his big reveal.
Time was up. For an easy question to close, Shin asked where Zhao was working from during the coronavirus pandemic.
"I'm in Asia," Zhao said. The blank white wall behind him didn't provide any clues about where in Asia he might be. Shin asked if he could say which country – after all, it's the Earth's largest continent.
"I prefer not to disclose that. I think that's my own privacy," he cut in, ending the interview.
It was a provocative way to start the biggest cryptocurrency and blockchain event of the year.
In the opening session of Consensus: Distributed this week, Lawrence Summers was asked by my co-host Naomi Brockwell about protecting people’s privacy once currencies go digital. His answer: “I think the problems we have now with money involve too much privacy.”
President Clinton’s former Treasury secretary, now President Emeritus at Harvard, referenced the 500-euro note, which bore the nickname “The Bin Laden,” to argue the un-traceability of cash empowers wealthy criminals to finance themselves. “Of all the important freedoms,” he continued, “the ability to possess, transfer and do business with multi-million dollar sums of money anonymously seems to me to be one of the least important.” Summers ended the segment by saying that “if I have provoked others, I will have served my purpose.”
You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here.
That he did. Among the more than 20,000 registered for the weeklong virtual experience was a large contingent of libertarian-minded folks who see state-backed monitoring of their money as an affront to their property rights.
But with due respect to a man who has had prodigious influence on international economic policymaking, it’s not wealthy bitcoiners for whom privacy matters. It matters for all humanity and, most importantly, for the poor.
Now, as the world grapples with how to collect and disseminate public health information in a way that both saves lives and preserves civil liberties, the principle of privacy deserves to be elevated in importance.
Just this week, the U.S. Senate voted to extend the 9/11-era Patriot Act and failed to pass a proposed amendment to prevent the Federal Bureau of Investigation from monitoring our online browsing without a warrant. Meanwhile, our heightened dependence on online social connections during COVID-19 isolation has further empowered a handful of internet platforms that are incorporating troves of our personal data into sophisticated predictive behavior models. This process of hidden control is happening right now, not in some future "Westworld"-like existence.
Digital currencies will only worsen this situation. If they are added to this comprehensive surveillance infrastructure, it could well spell the end of the civil liberties that underpin Western civilization.
Yes, freedom matters
Please don’t read this, Secretary Summers, as some privileged anti-taxation take or a self-interested what’s-mine-is-mine demand that “the government stay away from my money.”
Money is just the instrument here. What matters is whether our transactions, our exchanges of goods and services and the source of our economic and social value, should be monitored and manipulated by government and corporate owners of centralized databases. It’s why critics of China’s digital currency plans rightly worry about a “panopticon” and why, in the wake of the Cambridge Analytica scandal, there was an initial backlash against Facebook launching its libra currency.
Writers such as Shoshana Zuboff and Jared Lanier have passionately argued that our subservience to the hidden algorithms of what I like to call “GoogAzonBook” is diminishing our free will. Resisting that is important, not just to preserve the ideal of “the self” but also to protect the very functioning of society.
Markets, for one, are pointless without free will. In optimizing resource allocation, they presume autonomy among those who make up the market. Free will, which I’ll define as the ability to lawfully transact on my own terms without knowingly or unknowingly acting in someone else’s interests to my detriment, is a bedrock of market democracies. Without a sufficient right to privacy, it disintegrates – and in the digital age, that can happen very rapidly.
Also, as I’ve argued elsewhere, losing privacy undermines the fungibility of money. Each digital dollar should be substitutable for another. If our transactions carry a history and authorities can target specific notes or tokens for seizure because of their past involvement in illicit activity, then some dollars become less valuable than other dollars.
The excluded
But to fully comprehend the harm done by encroachments into financial privacy, look to the world’s poor.
An estimated 1.7 billion adults are denied a bank account because they can’t furnish the information that banks’ anti-money laundering (AML) officers need, either because their government’s identity infrastructure is untrusted or because of the danger to them of furnishing such information to kleptocratic regimes. Unable to let banks monitor them, they’re excluded from the global economy’s dominant payment and savings system – victims of a system that prioritizes surveillance over privacy.
Misplaced priorities also contribute to the “derisking” problem faced by Caribbean and Latin American countries, where investment inflows have slowed and financial costs have risen in the past decade. America’s gatekeeping correspondent banks, fearful of heavy fines like the one imposed on HSBC for its involvement in a money laundering scandal, have raised the bar on the kind of personal information that regional banks must obtain from their local clients.
And where’s the payoff? Despite this surveillance system, the U.N. Office on Drugs and Crime estimates that between $800 billion and $2 trillion, or 2%-5% of global gross domestic product, is laundered annually worldwide. The Panama Papers case shows how the rich and powerful easily use lawyers, shell companies, tax havens and transaction obfuscation to get around surveillance. The poor are just excluded from the system.
Caring about privacy
Solutions are coming that wouldn’t require abandoning law enforcement efforts. Self-sovereign identity models and zero-knowledge proofs, for example, grant control over data to the individuals who generate it, allowing them to provide sufficient proof of a clean record without revealing sensitive personal information. But such innovations aren’t getting nearly enough attention.
Few officials inside developed country regulatory agencies seem to acknowledge the cost of cutting off 1.7 billion poor from the financial system. Yet, their actions foster poverty and create fertile conditions for terrorism and drug-running, the very crimes they seek to contain. The reaction to evidence of persistent money laundering is nearly always to make bank secrecy laws even more demanding. Exhibit A: Europe’s new AML 5 directive.
To be sure, in the Consensus discussion that followed the Summers interview, it was pleasing to hear another former U.S. official take a more accommodative view of privacy. Former Commodities and Futures Trading Commission Chairman Christopher Giancarlo said that “getting the privacy balance right” is a “design imperative” for the digital dollar concept he is actively promoting.
But to hold both governments and corporations to account on that design, we need an aware, informed public that recognizes the risks of ceding their civil liberties to governments or to GoogAzonBook.
Let’s talk about this, people.
A missing asterisk
Control for all variables. At the end of the day, the dollar’s standing as the world’s reserve currency ultimately comes down to how much the rest of the world trusts the United States to continue its de facto leadership of the world economy. In the past, that assessment was based on how well the U.S. militarily or otherwise dealt with human- and state-led threats to international commerce such as Soviet expansionism or terrorism. But in the COVID-19 era only one thing matters: how well it is leading the fight against the pandemic.
So if you’ve already seen the charts below and you’re wondering what they’re doing in a newsletter about the battle for the future of money, that’s why. They were inspired by a staged White House lawn photo-op Tuesday, where President Trump was flanked by a huge banner that dealt quite literally with a question of American leadership. It read, “America Leads the World in Testing.” That’s a claim that’s technically correct, but one that surely demands a big red asterisk. When you’re the third-largest country by population – not to mention the richest – having the highest number of tests is not itself much of an achievement. The claim demands a per capita adjustment. Here’s how things look, first in absolute terms, then adjusted for tests per million inhabitants.
Binance support number 1844-918-0581 has frozen funds linked to Upbit’s prior $50 million data breach after the hackers tried to liquidate a part of the gains. In a recent tweet, Whale Alert warned Binance support number 1844-918-0581 that a transaction of 137 ETH (about $28,000) had moved from an address linked to the Upbit hacker group to its wallets.
Less than an hour after the transaction was flagged, Changpeng Zhao, the CEO of Binance support number 1844-918-0581, announced that the exchange had frozen the funds. He also added that Binance support number 1844-918-0581 is getting in touch with Upbit to investigate the transaction. In November 2019, Upbit suffered an attack in which hackers stole 342,000 ETH, accounting for approximately $50 million. The hackers managed to take the funds by transferring the ETH from Upbit’s hot wallet to an anonymous crypto address.
submitted by Witty-Sound to u/Witty-Sound [link] [comments]

Emergent Coding/Codevalley Investigation, part2: How does CodeValley company work.

Here is Part 2 of my investigation on CodeValley and Emergent Coding.
Part1 + Addendum was an analysis of how Emergent Coding works
Part2 is an analysis of how CodeValley company could possibly work.
Part3 will be an analysis of potential attack scenarios, their potential seriousness and how to mitigate them if they actually happen.
TL;DR
I hereby present all the evidence concerning CodeValley company collected by me during the course of my investigation.
EVIDENCE: Almost neutral behaviors (Almost acceptable, not condemning, not suspicious or only slightly suspicious, like a relatively "normal" company would do):
A1) CodeValley is not interested in getting any funding, apparently. The CEO himself has stated that they are interested only in developers [Archive]. This is not actually bad itself, it may be a strategy to get developers interested in the project first so they popularize it and get the funds later after the tech is popular already
A2) They are trying to get as many [paying] people as possible involved, without actually telling these people what they will be involved in. This is moderately dishonest.
A3) CodeValley is "Anchor Tenant" at Australia's Bitcoin Tech park. Whatever that means - because there is no documentation or information of how this is supposed to work. Will CodeValley have decision power of whether other companies can or cannot occupy the tech park and on what kind of conditions & terms? If they do have some kind of decision power or veto power, they could easily use this to influence or even force other companies into their highly secretive and proprietary technology.
A4) The company is extremely secretive about anything that would explain how the product is supposed to work. It takes solid PR-beating with a club until bleeding starts for the company to share any details whatsoever about the product they have.
A5) Instead of just explaining how the product works and allowing developers to become amazed with the beauty of the mechanism that makes it go, they chose to keep everything opaque and hide as much as they can about the product. It's like they are convinced that if they reveal too much, everyone will run away. It does not necessarily yet signify a bad actor, it could be just a bad business decision
EVIDENCE: Somewhat suspicious behaviors
B1) Despite being 11 years in the field,
  • CodeValley's product is not available as an actual software at all
  • They cannot disclose list of their patents, even though their Intellectual Property is being obviously well-protected
  • Almost nobody known in the world uses any of their product, they have no big "success stories"
B2) The company does not even want to reveal its business plan. Maybe it doesn't have any? But how did it get $50M in funding without a business plan? So the logical conclusions are, they
  • Either do have a business plan and are ashamed to show it for some reason OR
  • They don't have any business plan, in which case other factors are at play - most probably insidious or dodgy factors
B3) Noticed all the posts of CodeValley CEO have an automatic +3 upvotes in most topics their CEO answers. This is a little suspicious, but to be fair - in today's social media-soaked times it may be normal for any company to engage in honest and a little less honest PR damage control.
B4) The whitepaper and the presentation of their product is deliberately extremely vague and contains no concrete information. Deliberately, because it takes serious mental gymnastics to write so much text without actually giving any concrete information about a product which has actually a pretty simple premise of binary software fragment market. And such mental gymnastics can only be done on purpose. This reeks of dishonesty.
B5) Since I started the investigation, CodeValley CEO and a shill which appeared later tried to use multiple different psychological attacks on me. Specifically:
  • "Symphatizing" with my (supposed) hardships that had led me to this investigation, my hard childhood or whatever, and showing understanding (attacks details: make yourself closer to the person by symphatizing, thus provoking softer, less agressive responses, pretending to care and positioning yourself as a friend)
  • Praising me despite knowing actually nothing about me (attack details: make the attacked feel good about himself, pretend to be a friend, which changes that state of mind of attacked to more relaxed and makes him become susceptible to more manipulation tactics)
  • Inviting me to a "workshop" in Austalia, paying for hotels, plane and expenses, despite not knowing me (attacks: 1. Bribe using free services, 2. use more psycho-manipulation tricks in person, the way they are more effective)
B6) Failure to answer what is the source of funds for my supposed travel to australia, how will it be booked in their spending financial sheets, how it will be "raised". Just dropping the topic, like it never existed.
B7) CodeValley's funding sources are extremely shady. The big fund that brings unknown percentage of money to the table [Archive] is completely opaque and CodeValley does not want to share any information whatsoever about it
EVIDENCE: Highly suspicious or nearly condemning behaviors
C1) Despite being 11 years in the field, CodeValley does not give internal(binary & download) access to anybody, even their current business partners [Archive]
C2) After weeks of the investigation, once people steering CodeValley saw that I cannot be easily swayed, bought or discarded as an obvious troll, their shills start begging me to "not connect the dots" in part3 and consult them first before writing anything [Archive]. And all this while still claiming not being an obvious shill. Also another manipulation tactics by praise. This is pure gold (or rather: pure malice).
C3) Emergent Coding shills are bothering me in a similar way to CSW Shills - meaningly they spam PMs/comments in my direction specifically after telling them to leave me alone and after I add them to RES ignore list. Normal reddit users and even Core Shills never do that, so I conclude that they must have similar mindset to CSW/Calvin/nChain Shills, which will, most probably, mean being dishonest with their intentions.
C4) The company does not even talk about WHY it doesn't want to reveal its business plan. It would be almost okay if they said "we cannot reveal the plan due to contract with company XYZ or the Government". But they don't. This is extremely suspiciuous and signifies something nefarious.
C5) The company does not even talk about WHY it doesn't want to reveal its patents. One explanation like "listen, we cannot do it, we have NDAs or contracts with other entities" would be something. But no. Instead, once questions about patents start, they go completely silent - except only their shills immediately show up [Archive] and start explaining "possible reasons why". Also highly nefarious behavior typical for people ulterior agendas.
I will also now present theories of possible models that could explain occurence of company similar to CodeValley in nature:
MODEL 1. A normal honest company: Having incompetent owners, victims to the [sunk cost fallacy], developing product that will never work and pointlessly hoping for their dreams to come true while also trying to pull as many people in as possible, for some psychologically peculiar reason (something akin to group suicide).
MODEL 2. A normal dishonest company: A normal company with dishonest and manipulative owners that understand perfectly that the product they are selling is pointless and will never work as advertised. But they try to pull as many developers as they can into their system, make them sign contracts and NDAs, so money can be milked from them in a hopefully steady manner. There is a danger this type of company can morph into Placeholder company(3), pure evil-type company(7) or patent troll company(6).
MODEL 3. A "Placeholder" company: A shell company positioned in some specific place by a very wealthy and influential person or organization. It is a sleeper company, that remains dormant for a long time until it accomplishes enough and gains enough foothold in the specific industry that the actual owner can use it to influence the industry and earn huge money or achieve certain goals in politics. Example: nChain.
MODEL 4. A "Phantom Placeholder" company: The same as placeholder company, except it (owner, ceo and employees) does not actually know that it is a placeholder company. The biggest investor (the actual owner) has "other plans" for the company, which he will reveal in appropriate time and make the company do whatever he wants.
MODEL 5. Dirty money company: Company created for laundering dirty money (from prostitution, drugs, illegal gambling, human trafficking or illegal arms). Mostly harmless, will just produce junk and pretend it is doing something until the money run out. Or if they won't run out, it will produce junk indefinitely.
MODEL 6. A patent troll: A company that deliberately created or used very complex technology in order to pull as many companies as they can into their system in order to sue them and then milk them continuously through trials and lawyers.
MODEL 7. A "pure-evil" company. Company that is deliberately working in order to destroy or cripple a technology or an industry for political gain while pretending to be saints and pretending to make progress in the field/industry. Examples: Blockstream, GAZPROM(russian company).
I estimate the probability of CodeValley being one of models 2-7 at 97% and being a model 1 at 3%.
submitted by ShadowOfHarbringer to btc [link] [comments]

Why elites and statists are at war against Bitcoin

We are at war
I know this is going to be a long war: States vs individuals. Statists will fight fiercely to control of the income, activity and ,left unchecked, basically all aspects of the life of individuals. The result of this war is still uncertain but history is on our side.
There are many aspects of this war, but here we focus on the economic part. Nation states took the responsibility of regulating the economic cycle to avoid recessions and in the name of that sacred mission they created narratives that allow them to do almost anything, it worked pretty well for a number of years, but now populist leaders are popping up everywhere and out of control of the elites, it is very hard to curb spending for a populist government so for them it's either debasing/debt or increase taxes.
Debasing
It all started with voluntary debt and as the states have money printing machines this seemed a sure bet for people measuring their wealth in fiat. Of course the balance sheet looks different if measured against something like land (fixed) or global GDP (expanding but way less than monetary base).
Debasing/debt is just a way to extract money from the suckers that think they will retire with fiat-related savings and pension funds. Suckers think on their wealth in dollars and think inflation will be under control for the rest of their life. Elites accumulate in assets and consider fiat just a means not an end, Of course they also play the casino game very well so they are OK with Bonds, QE or even MMT. They will sell the part of their wealth still in fiat way before the suckers and their pension funds when/if things start to collapse.
Stocks are a different beast because some of them will survive inflation episodes. Picking the right ones and choosing a good timing to buy seems hard though.
What we are seeing now is that statists are out of control debasing the currencies, the money flows and quickly settles in static low rent pockets and that is why we are not seeing inflation: it is not triggering economic activity anymore as most of it is saved for the future. The existence of negative interest rates bonds is very telling: There is no escape to the fiat system. Real estate is too risky for the reasons I will explain on the tax section.
Crypto, in particular Bitcoin, appears as an option for this lack of freedom. If crypto wins the war the states will not be able to debase their fiat currency anymore as every penny printed will create inflation.
Income Tax and crypto
Elites hate taxes on wealth and prefer taxes on income/spending as they are already rich. They lobbied for centuries to design the tax system for their convenience. They still need nation states but they don't want to pay for them. In addition taxing income/spending is way harder than taxing property/assets so the tax code ended up being extremely complex: they have the best lawyers / accountants to find loopholes and pay even less than their share on that.
The statists think they can get away with just taxing income and they are closing all the gaps by creating global entities to control money laundering and tax havens and ultimately they will try to eliminate cash.
Crypto poses a risk to this goal as society will be able to hide complete layers of economic activity from the eyes of the tax collectors. If crypto succeeds and becomes commonplace all the personal services (contractors, gardeners, plumbers, maids, accountants, lawyers) will prefer to be paid in crypto. Corporations will be better off outsourcing work to smaller companies that would be more able to dodge the taxman more efficiently, the trend will continue upwards taking over more and more layers.
Taxing wealth will also be a challenge also as the states will not be able to size the crypto-wealth of individuals or corporations. At least they will be able to size real estate and other assets, and that leads us to:
The endgame: Georgism and a better planet
If crypto wins this war, statists will find it hard to fund the nation states services using debasing or taxing income so they will resort to something different, and if you think a little bit, very fair : Tax natural resources.
Natural resources such as land, water, air, minerals, energy, radio frequency permits, shoreline usage, sea/river ports, roads, pollution permits, killing animals permits and I'm sure statists will find others. All these taxes are almost trivial to collect compared to the declarative income tax.
I know they are taxing them now, but now think on really high taxes to support the dwindling income tax.
Of course, corporations will pass these taxes to the consumer so if you drink Coke you will pay for the taxes on land usage of the Coca Cola plant, the water usage, the waste management, and so on. In the end the price structure of all goods and services will reflect the usage of natural resources.
There will be entire categories of things that will become more expensive due to their usage of natural resources that now are "subsidized" (cough, cough oil...) . On the other hand all personal services will become cheaper from the consumer point since the service-performers will not pay income tax.
People will not be able to accumulate real state as investment, this will create selling pressure and cheaper land, all land will be used for something.
It will be almost impossible to evade taxes under this schema although the elites will lobby to influence in the tax rates for the different categories. Everybody and their mothers will access tax havens (i.e. crypto wallets)
This scenario gives me hope for the planet
submitted by descartablet to Bitcoin [link] [comments]

‘Baby Al Capone’ Ellis Pinsky pulled off a $23.8 million crypto heist

In January 2018, a team of some half-dozen computer hackers — scattered across Europe and the United States — scammed their way into Michael Terpin’s cryptocurrency account, fleeced it and laundered the funds: some $23.8 million, according to a bombshell lawsuit.
Allegedly at the center of the heist was Westchester teen Ellis Pinsky. According to papers filed May 7 in Manhattan federal court, Pinsky is “an evil mastermind.” The suit asks for $71.4 million.
The wildest part? Ellis was just 15 years old at the time of the theft.
To neighbors and classmates at Irvington HS, he was an ordinary 10th-grader who ran track, played soccer, loved cool sneakers and got good grades. Ellis’ bedroom in the $1.3 million home he shared with his family, including his NYU Langone-physician mother, had three computer monitors for playing his favorite games, Counter-Strike and Call of Duty.
But according to an insider, there was at least one unusual thing about Ellis. As related in the complaint, he once allegedly wrote to an acquaintance, “I could buy you and all your family. I have 100 million dollars.” The complaint also alleges that an accomplice saw, in December 2017, “records indicating that Ellis had $70 million.”
Ellis and friends partying with champagne at Up&Down nightclub on 14th street.
Pals outside the heist apparently viewed Ellis as a virtual-money wunderkind. “His best friend thought he was making money through trading Bitcoin and stock,” the ­insider said.
But the complaint alleges that Ellis was the apparent ringleader in the scheme against Terpin, who is a pioneer in the world of cryptocurrency: “In his early teens, [Ellis] began hacking computers with the mission of accessing his victims’ private accounts where they store their cryptocurrency holdings or private information.”
Ellis’ attorney, Noam Biale, told The Post: “Ellis was a child at the time of the alleged conduct . . . It is deeply unfortunate that Mr. Terpin has chosen to bring [a] lawsuit, full of smears and baseless allegations, for no imaginable purpose other than spite.”
Video games were allegedly the teen’s gateway to crime. “Ellis is a gamer. That was his primary interest,” the insider said, adding that private video-game chatrooms — where Ellis was allegedly a regular — on platforms such as Discord and Skype are often full of people bragging about hacks. “From there he got interested in stealing cool usernames.”
Using a technique known as SIM-swapping, hackers remotely transfer a victim’s digital identity from the SIM card that controls the victim’s phone to a blank SIM card in one of the hackers’ phones. Sometimes this is done to steal a victim’s social-media identity, as “OG handles” — such as @A or @evil — can be sold for big bucks.
Ellis also allegedly used SIM-swapping to steal cryptocurrency. Going from nicking names to pulling off multimillion-dollar heists is not that much of a leap, the insider insists: “Once you are in somebody’s phone, stealing valuable names, taking their Bitcoin seems obvious. Plus, stealing crypto is impersonal. For kids who spend their whole lives staring at screens and playing games, it feels natural.”
According to Terpin’s attorney Pierce O’Donnell, Ellis and his crowd were always on the lookout for vulnerable marks. As alleged in the complaint, one of the teen’s collaborators, Nick Truglia, specialized in that task. Four years older than Ellis and a onetime finance/economics major at Baruch College, Truglia’s “assignments included . . . obtaining [a victim’s] cellphone and passcode numbers, conning the mobile-phone carrier into giving him or another imposter a new SIM card and then handing the scam off to [Ellis] to execute the hack,” the complaint states. Last year, Truglia was arrested and charged with another hack. He is currently out on bail. In a civil case, a default judgment was issued against him for the Terpin robbery and he was slapped by a California court with a record-setting $75.8 million judgment.
Nick Truglia (left) was found guilty on civil charges of stealing cryptocurrency from Michael Terpin (right) — a scheme allegedly led by Ellis Pinsky.
The case against Ellis alleges that the teen oversaw the hijacking of Terpin’s BlackBerry — which led to his digital vault, called a “native wallet,” where the $23.8 million was stashed. Forty-eight hours later, said Terpin, the thieves had laundered his virtual cash.
“Your phone goes dead and theirs is alive,” he told The Post last year. “Then they own you.”
As the alleged ringleader, Ellis apparently had a knack for organizing and bullying. “He would tell everyone what to do [during heists],” said the insider. “He bragged about [the Terpin robbery] being his job. He’s a very smart guy and a control freak. If you pissed him off, he would start texting you from weird numbers and threaten you. He’d call your parents and say weird things.”
One such alleged victim was a chat-room pal who lived nearby. According to a 2018 report that the 16-year-old pal filed with Eastchester, NY, police, Ellis “made threats to me about having me or my mom killed” after he accidentally let strangers into their chatroom.
Things apparently escalated when the pal was allegedly enlisted by Ellis to help launder the Terpin money and lost some $700,000 after he sent funds to the wrong person. Crypto being what it is, the funds could not be retrieved.
After the money went missing, the pal told police, “[Ellis] asked me to start getting him some money through selling drugs, shoes or in any way possible. He requested $3,000 to $4,000 a week.” It is unclear what, if any, action was taken by authorities.
**I could buy you and all your family. I have 100 million dollars.
– Ellis Pinsky, allegedly threatening an acquaintance**
It seems that Ellis was spending his money — converted from cryptocurrency to cash — to live a high life. As per a JetSmarter ­order form provided to The Post by a source who asked not to be named, Pinsky maintained an account with the private-air service. Additionally, according to the insider, he drove an Audi R8, scored great Rangers hockey seats and dressed in splashy Louis Vuitton and ­Supreme streetwear.
How a kid explains such conspicuous consumption to his parents remains something of a mystery. Said the insider: “I think he told his parents that he made Bitcoin online through video games and got lucky.”
The complaint maintains, “Whether [Ellis’] parents were recklessly negligent or worse in failing to monitor and control their wayward son remains to be seen.”
Ellis’ fly style helped the teen fit in when carousing with fellow hacker Truglia. A photo viewed by The Post shows ­Ellis at the nightclub Up & Down, brandishing an open bottle of Dom Pérignon while flanked by slinky young women. Still, the insider said, “He showed little interest in being at the club. After posing for pictures with bottles, he’d go outside.”
Even while he was spending, the insider added, Ellis kept an eye on his money.
“He had a designer wallet packed with $100 bills but he never liked to pay for anything,” the insider said. “He was an extreme miser. He anticipated retiring from crime after the Terpin heist.”
Apparently, he didn’t anticipate getting busted by his alleged victim. After Truglia’s 2019 arrest, Ellis allegedly text­ed a mutual friend: “[Truglia] is a dumbass . . . and got caught.”
##How Ellis Pinsky allegedly spent his stolen loot: ##
Things appear to have unraveled for Ellis during an investigation of the missing crypto. As Terpin attorney O’Donnell listened to recordings between collaborators in the crime, the teen’s name came up as a key participant. O’Donnell told The Post that he contacted Ellis’ mother at her office, and a lawyer returned the attorney’s call. Although Ellis did not admit to anything, he allegedly took unusual action.
Soon after, according to the complaint, “Pinsky . . . sent cryptocurrency, cash and a watch to [Terpin] without any condition . . . There was no other reason to repatriate these items — worth nearly $2 million at the time — other than to make a partial repayment of what he had stolen from Terpin.”
According to O’Donnell, among the items was a “Patek Philippe Nautilus [watch], worth over $100,000.”
As the civil suit hangs — O’Donnell and Terpin anticipate a response from Ellis’ attorney within the next 60 days or so — no criminal charges have been filed against the teen.
“I want to know why [prosecutors] have not indicted this kid,” said O’Donnell. “He is caught dead to rights.”
A Department of Justice spokesman would only say that “Ellis Pinsky has not been charged by this office.”
Terpin admitted to The Post that he waited until Ellis’ 18th birthday earlier this year to file suit against the teen as an adult. That way, Terpin said, “It will be easier to sue him [than it would be if he was a minor] and we’re intending to get treble damages” — repayment of three times the sum stolen. “These are crypto gangsters. My nickname . . . for [Ellis] is Baby Al Capone.’”
Ellis, apparently, is still living at his mother’s Irvington home, as a Post photographer spotted him there last week.
“Look at Ellis’ life and there is no reason for him to do what he did,” the insider said. “He’s a standout kid with a dark side.”
Source: https://thedailyblockchain.news/2020/05/24/baby-al-capone-ellis-pinsky-pulled-off-a-23-8-million-crypto-heist/
submitted by iMakeWebsites4u to daily_blockchain_news [link] [comments]

Emergent Coding/Codevalley Investigation, part3: Attack scenarios and how to mitigate them.

Here is Part 3 of my investigation on CodeValley and Emergent Coding: Analysis of potential attack scenarios, their potential seriousness and how to mitigate them if they actually happen.
Part2 was an analysis of how CodeValley company could possibly work.
Part1 + Addendum was an analysis of how Emergent Coding works
POSSIBLE ATTACK SCENARIOS:
SCENARIO 1) A normal dishonest company or a money Laundering company [MODEL-2 or MODEL-5] selling bad product:
The company will try to earn money by selling their failure product by convincing developers to use their product first, which developers will later convince their managers & CEOs to buy mass licenses for the tech. Because this kind of attack is not targeted at Bitcoin Cash and its Open Source ecosystem, it may appeal to multiple companies of various business models compatibile with closed source software. If CodeValley is just a money laundering company [MODEL-5], then they will not exert large pressure to sell a lot of products. If this kind of company pulls some BCH/Cryptocurrency startups into its patented technology, there could be limited damage to the whole Bitcoin Cash ecosystem. This is not their goal though, which is the main reason for the insignificant danger.
  • Possible timespan of attack: Unlimited.
  • Worst-case-scenario danger and damage to Bitcoin Cash if successful: Very Low to Low
  • Probability of (limited) success: Medium to High
SCENARIO 2) A placeholder company or pure-evil-type company [MODEL-3, MODEL-4 or MODEL-7] trying to acquire control and establish position in Bitcoin Cash market:
Once the company gains enough foothold in the Peer-To-Peer Cash industry, its owner will try to influence the industry to achieve its goals, whatever the goals may be.
EDIT (Courtesy of jessquit): If their goal is to destroy or harm Bitcoin Cash ecosystem, it is enough for them to bootstrap a VC fund using the $50M they received and pull developers into their closed software ecosystem in order to divert them from Peer-To-Peer Cash to occupations "less threatening" for banks, governments or whoever is controlling CodeValley.
Because the CodeValley's ultra-closed SaaS software is not compatibile at all with the open source nature of CryptoCurrencies, they will have it very hard to gain foothold in this industry or convince anybody from BCH ecosystem to go completely closed source.
Also, because I have already vaccinated the ecosystem against this attack method before it even happened, it makes it even more difficult to mount against us. However, if successful - as unlikely as that sounds - consequences of the attack could turn out pretty severe, similarly to nChain/Calvin/Craig Wright's attack on Bitcoin Cash.
  • Timespan of attack: 2 to 3 years.
  • Worst-case-scenario damage to Bitcoin Cash ecosystem if hostile & successful: Low to Medium
  • Probability of success: Low
SCENARIO 3) A patent troll company [MODEL-6] trying to pull startups & corporations into using their patented technology, in order to sue them later and earn money from court battles. This kind of attack may or not be targeted at Bitcoin Cash specifically, but it may cause low amount of damage to Bitcoin Cash ecosystem, as some startups will waste a lot of money on lawyers and could end up frozen because of legal shenanigans. It will, however, not cause almost any damage to existing ecosystem participants - meaning open source projects and companies. With high probability, only new startups will be affected.
  • Timespan of attack: 3 to 20 years.
  • Worst-case-scenario damage to Bitcoin Cash ecosystem if hostile & successful: Low
  • Probability of success: Low to Medium
DEFENDING BITCOIN CASH ECOSYSTEM AGAINST ALL THE ATTACKS:

1) If you have a Bitcoin Cash - related startup or are a developer considering taking part in the "BCH Tech Park", be extremely wary and careful of various clauses/provisions in the tenancy agreement. Especially dangerous conditions are the ones that
  • Allow CodeValley to break the contract in case you didn't do what they want or didn't buy some of their products
  • Allow CodeValley to break the contract in case you didn't use their patented technology
  • Give you the usage of CodeValley's patented technologies "for free", if you agree to the their tenancy contract
  • Forcefully budle the usage of CodeValley's patented technologies in one bag together with the tenancy contract (tenancy + technology together)
  • Allow CodeValley to break tenancy contract immediately, without giving any reason whatsoever
If you do not know how to read "lawyer-english" and are not good at reading complex contracts, GET A LAWYER to read it for you.
Obviously Do NOT sign (any) contract without reading it slowly & thoroughly at least one time, but 2-3 times is much safer. Best to take it home and read it when you are relaxed, not at CodeValley's office.

2) Also be wary of multiple popular socio-technical tricks they use (they tried to use them on me, so I know). They may signify dishonesty and will to use more manipulation techniques in person:
  • Symphatizing with your problems, while not knowing them
  • Praising you with no logical reason, without knowing your achievements
  • Inviting you to their workshops and conferences - while paying expenses - with seemingly no valid reason at all

ENDING NOTES:

I have succeeded in my basic function as an immune mechanism: The CodeValley/Emergent Coding investigation took long enough for most developers to notice it, it has drawn a lot of attention, so awareness of the threat has been raised by many levels and antibodies have been produced before the infection has spread.
In my opinion, the Bitcoin Cash ecosystem now has all it needs to defend from the possible attack and similar attacks in the future.
I also generally do not view CodeValley company as as serious danger to the Bitcoin Cash ecosystem, because their business model(ultra closed source SaaS) is inherently totally incompatibile with CryptoCurrencies' software model (open source). They will have it very hard to convince anyone here to use their patented technology. Even if they do convince some companies, because of their products are also not compatibile with existing software and operating systems, the possible damage to BCH ecosystem in case of successful attack should be relatively small.
Still, we should always be vigilant and it is better to avoid any damage to Peer-To-Peer Cash, even if insignificant in size.
submitted by ShadowOfHarbringer to btc [link] [comments]

~ Awareness of a HUGE Vulnerability for All of Us ~


Just looked-up Alexander Vinnik on wiki. Regardless of the charges, I don't know how to feel, why does the US have the right or ability to size a domain name or site ? Doesn't that expose a HUGE vulnerability to all of us and the very few sites we depend upon to interact with cryptocurrency and our funds?
From wiki;
On 28 July 2017, US authorities seized the BTC-e.com domain name and 38% of all customer funds. To repay its customers BTC-e created WEX tokens, which were used to represent customers' seized equity. The WEX tokens represented $1 and were issued to account for the value of customers cryptocurrencies at the time of the theft.
Alexander Vinnik
On 25 July 2017, suspected BTC-e operator Alexander Vinnik was arrested at the behest of the United States Justice Department while vacationing with his family in Greece. Wanted for money laundering by both France and Russia, in addition to the US. Vinnik agreed to be returned to Russia, where he was charged only with fraud. In October 2017 the extradition request by Russia was approved by one Greek court, but the request by the United States was approved by another. The decision to extradite Vinnik to the United States was upheld by the Greek Supreme Court on December 13, 2017. However, in July 2018 Greece agreed to extradite Vinnik to France instead, giving precedent to the European warrant. A final ruling is scheduled for September 19, though Vinnik's lawyer claims that "the decision on Vinnik's extradition to Russia has been made".
A plot to murder Vinnik in prison was uncovered in early 2018. In September 2018, Bloomberg News reported on a potential link between Vinnik and Russian hacking group and intelligence service Fancy Bear. An Elliptic) blockchain analysis of a bitcoin transaction linked Vinnik's former employer, BTC-e to the group and this strengthened the American interest of extradition. Vinnik maintains his innocence of any wrongdoing, but has chosen to cooperate from Greece.
Also, here is a Max Kaiser video that kind of relates to this exact question; Not Your Settlement Layer - Not Your Bitcoin
submitted by riddeledwitholes to CryptoCurrency [link] [comments]

A Few Things You Should Know About Getting a BitLicense

The NYDFS rejected Seattle-based cryptocurrency exchange Bittrex’s BitLicense application, and the resulting rejection letter serves as a blueprint for anyone looking to do crypto business in the Empire State.
For securities lawyer Jason Seibert, who has served on several landmark crypto cases, the crux of Bittrex’s rejection letter is on Page 4 in Paragraph D. He says it offers the 10,000-foot view of what it takes to operate a crypto exchange.
“…Bittrex has failed to demonstrate responsibility, financial and business experience, or the character and fitness to warrant the belief that its business will be conducted honestly, fairly, equitably and carefully,” reads the NYDFS rejection letter of Bittrex, which requested that the exchange provide within two weeks of the rejection written confirmation that it had stopped operating in New York State and doing business with its residents.
What’s clear is that anyone looking to operate as an exchange in New York State must abide by the Five Pillars of KYC and AML:
“For instance, you have to be able to know if there’s somebody that’s on a sanctions list or an OFAC list,” explains Mr. Seibert, referencing the Office of Foreign Assets Control. “So, it becomes an issue if an exchange doesn’t even know who their customers are due to the ability for users to create a false name or an alias account.”
Seibert points out that no one is going to win points with the regulator when they allow Elvis Presley to trade, as was the case with Bittrex.
“An exchange must see some form of ID, some sort of registration, some sort of link between an actual person and an account,” explains Seibert. “You can run an actual ID against a database like OFAC to make sure that it isn’t a sanctioned Russian who’s not supposed to be doing business in the United States or someone laundering money through a cryptocurrency exchange because they’ve created a false account. That’s the issue with these anonymous accounts. When you’re looking to be a government regulated entity, you have to follow all the rules. You can’t allow anonymity anymore.”

But, anonymity is the lifeblood of cryptocurrency. And that goal to be able to do things anonymously, to have your money, spend your money, trade your money, and do anything you want without the government knowing, doesn’t fly with regulators.
“The goal for a lot of people in this space is to be able to do things anonymously,” says Seibert. “So, when certain people started finding out that you were going to have to have a verified account with your real name like Poloniex did, a lot of people close their accounts. They go someplace where they can be anonymous.” A lot of exchanges, in addition, were not designed to have AML and KYC control.
“They didn’t know the policy, didn’t do the training, and quite frankly, I don’t think they really wanted to do that because it was contrary to whatever their internal beliefs were,” said Seibert. “In their minds, they’re not there to be the world’s police, and to prevent illegal transactions, money laundering and sanctioned money from traveling internationally. An exchange cannot list tokens without the required due diligence to know if they were security or not, what was being offered, and who was offering them.”
Seibert evokes the Petro cryptocurrency from Venezuela, for instance. “Absolutely sanctioned,” he says. “Nobody in the United States is allowed to buy it or should be allowed to buy it because it’s viewed as getting around sanctions on human rights violations. You’re not supposed to buy Venezuelan oil.”
So, for any exchange, listing the Petro token would be a violation. Same goes for an unknown token with unknown issuers and uses.
“You could start avoiding sanctions by having this anonymous token created that certain parties may be trading back and forth in order to launder money,” explains Seibert.
What’s more, all employees at an exchange must be trained on AML and KYC policies and procedures. In the case of Bittrex, NYDFS said people were not trained and policies and procedures were inadequate. Bittrex said their framework had been approved by outside counsel, but it’s unclear who the outside counsel was and if their compliance framework ran the prescribed way.
“You can have a fully approved and creative plan and you put it on your desk, but then not execute it,” says Seibert. “If they did have an approved framework by competent outside counsel, then how is it that DFS found that their compliance was insufficient?”
Inspiring confidence in regulators about your ability to serve the public in a regulated manner, moreover, is crucial when it comes to getting a license to operate.
“It’s important to demonstrate responsibility, financial and business experience where the character and fitness to warrant the belief that business will be conducted honestly, fairly and equitably,” said Seibert. “Your internal policies need to ensure you’re not going to be laundering money or allowing money from foreign suspected terrorists, countries or organizations that are on the sanctions list. You don’t want to do any business with those people. There’s a duty to basically say who’s behind this? What are they doing? Who’s selling the token?”
In opinion letters that Seibert has written for projects looking to be listed on exchanges, he details the complete background on the company, including who the players are, whether they’re on a sanctions list or not, and more.
Seibert also highlights the importance of a competent compliance officer and the risks of not having one.
“Perhaps, you have a compliance officer, but they didn’t do anything,” he says. “Perhaps there is a lack of training. Every person in the staff who is at minimum operating and working with a transmission of money needs to know what the policies are and what the rules are for filing suspicious activity reports. Every employee, including the CEO, needs to have extensive AML, KYC and BSA training, and everyone needs to be empowered to raise a red flag and file a SAR. Everyone.”
It’s just the nature of the business, he notes. “Employees must be trained and empowered to file this stuff,” says Seibert. “There needs to be an AML, KYC folder on your desk. That’s your training folder. And it’s got all the requirements and statutes in it. You need to have absolute compliance with the law to demonstrate that you’re a reliable and trustworthy person who knows how to run a business. In the case of Bittrex, NYDFS is not saying they didn’t have a program, it’s just saying that it was completely deficient.”
Not only must an exchange have an AML and KYC policy in place, but that policy must also be audited by an independent party. When Bittrex was rejected by the NYDFS, it was demonstrated in the rejection letter that, while Bittrex claimed to have done this, they failed to inform NYDFS who the independent auditor was.
“An exchange’s AML and KYC policy has to be audited and examined by an independent third party,” says Seibert. “In the case of Bittrex, they say they’ve retained an external firm. The department is saying that it would have loved to have seen the engagement letter of who Bittrex’s auditor was.”
He uses the SEC denial of the Bitcoin ETF as an example for entrepreneurs to look at and learn from.
“If I wanted to operate an exchange in New York, then I would be paying attention to what the SEC is saying about exchanges,” said Seibert. “I’m paying attention to what has happened to other exchanges and I want to be the gold star. The Gemini exchange has shown a way forward when it comes to compliance. Running a regulated exchange is not that hard. It’s not like have to create a framework from whole cloth. There are examples already, you just have to execute that.”
He adds: “The SEC declined the Bitcoin ETF because the regulator felt that the bitcoin ecosystem, including its exchanges, were not well-regulated, supervised or had sufficient controls with the ability for regulatory oversight of those exchanges to be able to say that the activity inside of them wasn’t fraudulent.”

site: https://cryptographicasset.com/a-few-things-you-should-know-about-getting-a-bitlicense/
submitted by LosDodgersDodgers to Bitcoin [link] [comments]

BANKS ARE GUILTY OF MONEY LAUNDERING BUT THE GOVERNMENT ... Money laundering 38,250 Bitcoin for MicroStrategy, Jim Cramer talks the 1% ... $4 Billion 💰 Bitcoin Money Laundering Operation Revealed ... Why don’t corrupt officials use Bitcoin for money ...

OneCoin's lawyer, Mark S. Scott was found guilty of helping Co-Founder, Ruja Ignatova who remains at large, launder $400 million. As for his cut of the pie, news outlet, Coin Telegraph disclosed Keywords: money laundering, bitcoin, digital currency, cybercrime, money laundering, computer hacking, transnational crime As almost every aspect of our lives is becoming more and more dependent on technology, it comes as little surprise that the emergence and increased popularity of digital currencies has received a widespread of publicity over the past few years. Bitcoin has seen a big rise in popularity among criminal organizations operating in China. It is now the coin of the realm for Chinese criminal organizations using trade-based money laundering ... OneCoin scam lawyer sent down for money laundering and bank fraud. According to the official press release from the Southern District of New York on 21st November 2019, a former partner at Locke Lord LLP and the attorney under trial, Mark Scott, has been charged on two counts, conspiracy to commit money laundering and conspiracy to commit bank fraud. He is further sentenced for a hearing on ... Bitcoin laundering is a practical and cost-effective option for cyber criminals to launder proceeds of crime, and is therefore highly likely to be utilised in money laundering schemes now and into the future. While the low 15% commission makes it a cost-effective option, some services may block transactions that exceed a certain threshold, for example $5,000 or $10,000. It is therefore not ...

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BANKS ARE GUILTY OF MONEY LAUNDERING BUT THE GOVERNMENT ...

Rick McDonell, Executive Director, Association of Certified Anti-Money Laundering Specialists (ACAMS), Paris. / For the premium version, please visit http://... **On today's episode of The Cryptoverse:** We’ll check in on the progress to Segwit lock in. And the MtGox case has been cracked wide open thanks to new repo... If asked right now, can you explain what money laundering is? More importantly, did you know that money laundering is the reason for pizza in USA? In this vi... The digital currency Bitcoin has been making headlines this week after a huge increase in value, but ministers are to introduce tighter regulations on the vi... $4 Billion 💰 Bitcoin Money Laundering Operation Revealed Involving Alexander Vinnik and BTC-E - Duration: 12:41. The Cryptoverse 12,440 views. 12:41. Jim Rogers ...

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