Why will the switching to TkeyNet take place this year, and not later, as planned?
Let’s look at the project history. The TKEY concept dates back to October 2017, and it was in the fourth quarter of 2017 that the distributed infrastructure concept was approved. In early 2018, the formation of the TkeyNet architecture began. To make the whole course of events clear, we highlighted the main points and commented on them: The projected development period for TkeyNet is 2.5–3 years.
This forecast was made in 2018 when the development of TkeyNet began.
The course of events that was part of our strategy
Core 1.0 launch and exchange The company planned to launch a Protocol based on Core 1.0 and conduct a subsequent listing of the asset on the exchange in late 2018-in the first half of 2019. Depending on the completion of work on Core 1.0. Why launch Core 1.0? There is a fixed practice in the market when a project starts on a ready-made blockchain, and then switches to its own, for example, EOS. This project was launched based on the Ethereum blockchain, and later the transition to its Protocol was made. Our main task was to launch a Protocol with non-standard technical solutions for the market and enter the auction to expand the project audience and obtain liquidity for the asset. With an increase in the asset price, the company would be able to increase its financial resources and reinvest them in the development of the project. Thus, the launch of a blockchain-based on Core 1.0 fully met these tasks.
In Core 1.0, new transaction models introduced and multi-blockchain support implemented. The first version of the Protocol supported the inclusion of 10 separate chains. The mechanics allowed you to change the number of parallel chains in the blockchain. To increase throughput, the team implemented PostgreSQL support, instead of the typical key-value database that is present in most cryptocurrencies.
Switching to Core 2.0 during trading and then switching to TkeyNet Next, the plan was to upgrade the network to Core 2.0 and continuously modify it. The modification means the gradual implementation of functionality and standards from TkeyNet so that it is easy to make the transition from Core 2.0 to the new TkeyNet Protocol during trading on the exchange. https://preview.redd.it/zcf5vnsgg2f51.png?width=1191&format=png&auto=webp&s=d5d5e41551ccc95f8a8a401f8fd2d081f1068939 In 2019, a Core 1.0 — based system launched. The year was simultaneously busy: the first presentation of TkeyNet at APA-2019, presence at IFC-2019, work on draft laws, and at the same time, the year was quite difficult for our company, which affected the timing shifts for products and all project plans in General. The listing did not take place. Reasons for switching to TkeyNet There is a silver lining. In the period from April to May, there was positive news from developers: work on TkeyNet will be completed much earlier than planned. By the end of June, we were preparing to launch a test network based on TkeyNet, to start the final testing of all functions.
On June 22, 2020, the core 1.0 network suspended. For more information,see the link.
Shortly, we will be able to switch to TkeyNet and list the TKEY asset to crypto exchange.
Upon completion of the launch of TkeyNet, the official date of listing of TKEY on the trading platform will publish at the link:tkeycoin.com/start/;
What is TkeyNet?
We have already talked about TkeyNet in the previous article: TkeyNet-release date, a brief analysis of the system, further plans, gave examples of how the use of technology, told what products can be created based on TkeyNet, all this covered in General terms. https://preview.redd.it/olp8lviig2f51.png?width=7418&format=png&auto=webp&s=9403b97e8bd2080fb8678530dbb418053db317c3 In this publication, we share some theses so that you will gradually develop an objective picture of the new TkeyNet system and its capabilities, which many of you will be able to apply in the future in business or everyday life. From the very beginning of development, — TkeyNet was intended to improve the existing financial system, not to replace it. From a technical point of view, the system and its functionality entirely based on blockchain technology. However, this is not a classic variation, as, for example, with bitcoin, but the new implementation of It — more secure, more suitable for global use, more perfect. In simple words, our developers took the best from Bitcoin, Ethereum, Litecoin, and other market leaders, combined their pros, eliminated their cons, and modified existing solutions on the market, resulting in new technology with new features. For the user, TkeyNet is a fast payment network that allows you to store, use, and move various assets in the payment network, such as currencies, shares, real estate, and precious metals, etc. Businesses will be able to legally conduct international transfers in seconds and significantly save on transactions. For developers and startups, this means best practices, infrastructure, liquidity, and access to ready-made solutions that can complete in their products. Among competitors, TkeyNet is much faster than its predecessors, more profitable, and cheaper in terms of transactions. For businesses and financial institutions, it is an infrastructure that will significantly improve existing financial processes, from payment routing to multi-level exchange and clearing operations. If we compare the giants of the financial industry-banks, and the new paradigm — distributed payment systems, we will notice a significant difference. The total market capitalization of cryptocurrencies estimated at ≈340 billion US dollars and the capitalization of 10 world banks is 2 trillion dollars. A significant difference, don’t you agree? http://www.outsourcingportal.eu/en/bitcoin-would-rank-as-8th-largest-bank-globally-with-169-billion-in-market-capitalization You can’t argue with the numbers, and we must understand that banks remain vital objects of the financial system. Banks help us send funds within the country and abroad, and provide a lot of services, such as loans, deposits, and a lot of other services. Anyway, using cryptocurrency, users actively exchange it for Fiat currencies to pay for any formed needs. Therefore, TkeyNet will serve as a bridge between fiat and digital currencies, providing its users with best practices and tools through which we will all have access to various digital and cash at any time and anywhere in the world. The Asian Parliamentary Assembly actively raised the issue of trust and the development of financial products in underdeveloped countries. The problem in such countries is total state control of property registers. Citizens prefer to dispose of their funds in informal settings because they do not consider state systems reliable.
According to the World Bank alone, about 1.7–1.8 billion people do not have accounts in any financial institution, and about 47% of them located in developing countries. The problem of interaction between a person and a financial institution consists of three main reasons: poverty, trust issues, and geographical difficulties. With systems such as TkeyNet, it is possible to connect people and financial institutions with a single source of trust. With the use of such systems, a person does not need anything other than access to the Internet. https://www.statista.com/chart/18497/countries-with-the-highest-share-of-adults-without-a-bank-account-in-2017/
The investments that bring us all together
On the other hand, the audience of the TKEY project is quite diverse: our investors represent a variety of professions, a variety of cities, and a variety of age groups. However, one thing, nevertheless, unites us all — this thing is an investment. And therefore, some of the users may not be interested in technical details or the difference between 1.0, 2.0, or TkeyNet. But at least the thesis, the main message, must be understood by absolutely everyone.
The more popular the company’s products are on the market, the stronger it is and the development. Due to the reliability of the company, the prices of its assets grow.
From 22 to 24 July, the test network TkeyNet was successfully launched. Our team is currently actively testing the entire network and conducting a security audit. Developers are testing the network with different scenarios: security, reliability of the full system, as well as individual modules and functions. Given the different number of similar-looking formulations, but at the same time completely different from each other, some users wondered what is the difference between such concepts: Mainnet, Testnet, and TkeyNet. Testnet should consider as a demonstration network for testing, testing concepts, new features, experiments, and debugging without the risk of losing any data. Testnet is a polygon for the development team that used to improve the system and introduce new features. Mainnet (Main Network) this is a complete product, ready to use. TkeyNet is the name of the infrastructure, the entire system that we are developing, and Testnet and Mainnet are technical concepts within this system. After testing the system is complete, TkeyNet will launch. We will issue instructions on how to upgrade to the new Protocol and new software, respectively.
Testing takes place without any excesses, and the launch of TkeyNet is just around the corner.
Thank you for being with us! Follow the project news to stay up to date. If you missed the latest news, you read the notification on the site: https://tkeycoin.com/en/news/.
Was Epstein behind an anonymous team that created Satoshi Nakamoto?
"The behavior of termites, together with ants and bees, is a precursor to trust because they have an extraordinary ability to form relationships and sophisticated social structures based on mutual altruism even though individually they are fundamentally dumb. Money itself is a derivative of trust. If we can figure out how termites come together, then we may be able to better understand the underlying principles of market behavior -- and make big money." —Jeffrey Epstein, Letter to Martin Nowak (evolutionary game theory scientist), 2002. https://nymag.com/nymetro/news/people/n_7912/index.html ——————————————————— “I have this idea of a future with virtual peer to peer banking. A kind of decentralized and secured system. Gone would be the times that governments and banks can track and interfere with our money transfers. Or even interfere with the total amount of money on earth. My envisioned sytem would have a fixed total amount of money. But each money unit (say virtual coin) is divisable indefinitely. So a kind of deflation would replace inflation. The total value of the money in the world would be a fixed number. It poses no problem for liquidity, because the currency can be divided anytime. However maybe people will not spend their money much, because it's value will increase often. Other problems raise in the areas of security, malicious use, and how to come towards such system from current systems? These are just ideas, I like to hear comments or about net resources on this subject.” —X, UK finance forum, 2002. https://archive.ph/T7ZBD ——————————————————— “My studies are not complete as I am working on the intersection between evolutionary dynamics, social statistical mechanics, game theory, computational biology and synthetic biology in an attempt to discover the mathematical underpinnings of competition verses cooperation. Included in this is an attempt to formularize the efficiencies of social prosthetic systems. First attempts have been to analogize it to heat and energy transfers across variable resistance nodal networks. I'm further attempting to find a derivation of “power” (Why does everybody want it?) in an ecological social system that would include variables for reputation, trust or awe and the inherent strategically diverse tactics of deception.” —Jeffrey Epstein, application to secure Visiting Fellowship position at Harvard. 2006. https://assets.documentcloud.org/documents/6880926/HarvardEpsteinReport.pdf ——————————————————— “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone. Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non- reversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party.” —Satoshi Nakamoto, Bitcoin Whitepaper, 2008. https://bitcoin.org/bitcoin.pdf —————————other relevant links: 2017: Epstein publicly endorsed Bitcoin as a store of value, publically funded many bitcoin “maximalist” projects HODLr since when? 2013: Links and instructions on accessing Cheese Pizza embedded on the bitcoin blockchain on blk00052 Ultimate deadman’s switch? 2013: Death of Dave Kleinman, PALM BEACH COUNTY POLICE Computer Forensics Expert and reputed encrypter of Satoshi’s 1 million Bitcoin Investigating said deadman’s switch or Epstein’s encrypted CP/blackmail confiscated by Palm Beach County police? 2003-2008: Paul Calder LeRoux “Solotsi”, #1 Bitcoin programmer candidate sets up dozens of shell companies for money laundering, drug trafficking, weapons trafficking, mining/logging enterprises, paying off assassinations. He is the founder of E4M/TrueCrypt—only encryption unbreakable by NSA according to Snowden. He is also proported to be the bastard grandson of a US senator. He lobbied Mugabe with the help of Ari Ben-Menashe of Israeli intelligence once. He came under satoshi speculation after being mentioned in a footnote of redacted Wright vs Kleinman Estate case, coincidentally being litigated by Virginia Guiffry’s law firm. August 2019: Computer-Generated Deep Fake AI Satoshi Nakamoto? No further confirmation of this guy has appeared, either as a real person or as further proof he is Satoshi. Seems to be hiding behind mysterious shell company. *my post got removed from bitcoin for being off-topic and deleted from Epstein probably for mentioning pizzagate, can it find a home here? Edit: added Jeffrey’s Visiting Fellowship statement from the Harvard Report
Was Epstein behind an anonymous team that created Satoshi Nakamoto?
Was Epstein behind an anonymous team that created Satoshi Nakamoto? "The behavior of termites, together with ants and bees, is a precursor to trust because they have an extraordinary ability to form relationships and sophisticated social structures based on mutual altruism even though individually they are fundamentally dumb. Money itself is a derivative of trust. If we can figure out how termites come together, then we may be able to better understand the underlying principles of market behavior -- and make big money." —Jeffrey Epstein, Letter to Martin Nowak (evolutionary game theory scientist), 2002. https://nymag.com/nymetro/news/people/n_7912/index.html ——————————————————— “I have this idea of a future with virtual peer to peer banking. A kind of decentralized and secured system. Gone would be the times that governments and banks can track and interfere with our money transfers. Or even interfere with the total amount of money on earth. My envisioned sytem would have a fixed total amount of money. But each money unit (say virtual coin) is divisable indefinitely. So a kind of deflation would replace inflation. The total value of the money in the world would be a fixed number. It poses no problem for liquidity, because the currency can be divided anytime. However maybe people will not spend their money much, because it's value will increase often. Other problems raise in the areas of security, malicious use, and how to come towards such system from current systems? These are just ideas, I like to hear comments or about net resources on this subject.” —X, UK finance forum, 2002. https://archive.ph/T7ZBD ——————————————————— “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone. Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non- reversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party.” —Satoshi Nakamoto, Bitcoin Whitepaper, 2008. https://bitcoin.org/bitcoin.pdf —————————other relevant links: 2017: Epstein publicly endorsed Bitcoin as a store of value, publically funded many bitcoin “maximalist” projects HODLr since when? 2013: Links and instructions on accessing Cheese Pizza embedded on the bitcoin blockchain on blk00052 Ultimate deadman’s switch? 2013: Death of Dave Kleinman, PALM BEACH COUNTY POLICE Computer Forensics Expert and reputed encrypter of Satoshi’s 1 million Bitcoin Investigating said deadman’s switch or Epstein’s encrypted CP confiscated by police? 2003-2008: Paul Calder LeRoux “Solotsi”, #1 Bitcoin programmer candidate sets up DOZENS OF SHELL COMPANIES for money laundering, drug trafficking, weapons trafficking, mining/logging enterprises, paying off assassinations. He is the founder of E4M/TrueCrypt—only encryption unbreakable by NSA according to Snowden. He is also proported to be the bastard grandson of a US senator. He lobbied Mugabe with the help of Ari Ben-Menashe of Israeli intelligence once. He came under satoshi speculation after being mentioned in a footnote of redacted Wright vs Kleinman Estate case, coincidentally being litigated by Virginia Guiffry’s law firm. August 2019: Computer-Generated Deep Fake AI Satoshi Nakamoto? No further confirmation of this guy has appeared, either as a real person or as further proof he is Satoshi. Seems to be hiding behind mysterious shell company. *my post got removed from bitcoin for being off-topic and deleted from Epstein probably for mentioning pizzagate, can it find a home here?
ILPT: In depth guide on how you can make a lot of money anonymously (Bitcoin)
So you've all heard of the old e-whoring and DNA scams by now, but people and corporations are already starting to crack down on them. So what do you do when these techniques become obsolete? Today I present to you: Cryptoconning! (As in cryptocurrency and con). So what is cryptoconning you may ask? Well it's a quick way to make a lot of bitcoins without them being traced back to you. I have only seen this technique used once and it *almost* got me, and I usually have a good eye for scams and the like. Cryptoconning is very easy to set up, even more so than e-whoring, as it requires no external downloads apart from a social media app/IM and a cryptowallet, although most people already have these anyway (and if you don't have a wallet set up you probably shouldn't be doing this scam anyway lol). Alright so let me explain the general idea of this scam. It relies on some small mind tricks. You know how online games always have some kind of in game currency, or a premium currency? Well the reason they work so well is because it breaks the association between money-product and adds a barrier between them (money-currency-product). Would you rather spend 5 dollars on a cosmetic item for your character, or spend 6 dollars on 600 gems, then spend 500 of them on the item and have 100 left over to spend on other purchases. Pretty self-explanatory. So now that we have the basis of the scam out of the way, let me show you how this is gonna work. You're going to offer someone 0.06 btc if they pay you 0.006 btc. Yeah, that's it. Well sort of, let me explain further. For those of you aren't into cryptocurrency, 0.006 btc is roughly 40 dollars as of right now, and 0.06 is 400. Now you are probably thinking I'm crazy, that people would actually fall for this type of scam, but it actually works. Going back to the mind trick idea, what do you think sounds less sketchier: "hey bro i can turn 40 dollars into 400 rn just paypal me the money" or "hey bro i can turn 0.006 btc into 0.06 rn just send the btc to my address". Mathematically, the difference between 0.06 and 0.006 sounds much smaller than 40 and 400 to us, even to those who understand cryptocurrencies, that's how this scam works. So you get your victim, give them this offer (change the prices if you want), hope they go through with it and boom, free 40 dollars. That easy. So now that you get the gist of it, I'll write a more in depth instruction guide below, starting with a checklist for what you'll need to pull off this devious scam: - Some kind of social media app/instant messaging app. It's better to use the more popular ones, such as Instagram and Snapchat, but you can use Kik or Skype (who?) if you want. - Fake profile. Doesn't need to be in depth like with e-whoring, just make a simple page for your bitcoin entrepreneur with a fake name, PFP etc. Your profile doesn't even need a real person, you can go for the good old Xx_bitcoinguy69_xX if you want. - YouTube account. You'll need this to "vouch" for yourself. You can just use your main if you want or make a quick Google account as this one doesn't even need any content. - Crytowallet. There are plenty of good wallets out there. I use Blockchain on my phone for easy access, and it requires no ID verification. Aaaand that's all. No extra downloads required, no "[FREE]  Cryptoconning pack | Over 1200 bitcoins included!!!!!" needed! So now that everything is set up let's get to work. The first thing you are gonna want to do is promote yourself. *Don't* promote yourself as yourself, that's just stupid. That's why we use your YouTube account to vouch for yourself in the comments of bitcoin videos. Now you may be asking, what type of video should I be looking for? And the answer is any. Really, just type bitcoin in the search box and sort by upload date. For the best results however, I would look for videos titled "how to get free bitcoins" and the like, as the type of people who will be watching those videos will be pretty desperate for money. In the comments just type something along the lines of "this is a good technique but my friend has access to a crazy mining rig. he can get you 0.06 btc in a few days message him on [social media] his name is [username].". If you want to increase your percieved authenticity, try and relate your comment to the video in some way. Yes this is more time consuming but it makes you stand out from all the bots in the comments. For example, instead of leaving the comment previously mentioned, start it like "this app is pretty cool i got 0.0002 btc in a few days. will definitely take some time but my friend already started me off etc etc etc.". Now your first victims have begun messaging you, what next? Well the next part is similar to e-whoring, so if you are experienced in that this will be a breeze. The less questions they ask, the better. This is also a good way of seeing how desperate they are, so if you feel like you can take advantage of someone, increase the prices and the "profit". Just don't go too high, and keep the difference between the price and profit low. If they start asking questions just bullshit your way through them. "Where does the money come from?" "I have access to a mining rig in Texas", "How can you get it so fast?" "We have over 350 mining rigs, with Radeon RX 460s", "How do you make a profit out of this?" "It's not my mining rig", etc etc. When they finally ask for the money, that's when you tell them about the fee. You need a good reason for this, and by far the best one is to say that you need the money to pay for the mining rig's services. This one works like a charm. So by now you should have been able to see what kind of person they are. Friendly? Go semi high with the price and if they hesitate offer to lower it a bit. Straight forward? Go somewhere in the middle-high. Asks lots of questions? Go middle and offer to lower it a bit just for them. When you've finally got them on board all you need to do is give them your wallet address and they will send the bitcoins over. Sometimes this can take a few hours or sometimes it goes through immediately, but you should recieve it the same day. And just like that, you've made yourself a quick 30-80 dollars! Now you don't your victim to get suspicious right away, so if the transaction hasn't gone through, tell them that it hasn't, and that you will get back to them as soon as it has. If you get it immediately, say "thanks got it" and that you've started the mining rig and it will take a couple days (be specific, don't just say "a few days", say "about 74 hours") and bid your farewell to them. At this point you can just block them but if you don't risk getting reported and your account taken down you can take it further. There's a chance that your victim will ask for progress on your mining so just give them a fake amount of bitcoins according to how long it's been since you "started it". So if you said it will take 74 hours and it's been 2 days since you scammed them, say you have mined 0.0454379 btc out of the 0.06 you agreed on. After the time period is finished come up with some excuse such as you're not allowed to use the mining rig anymore, or the owners took the bitcoins. Say you're sorry and that you returned the bitcoins they sent you and that it will probably take a few hours to send. You can even fake a screenshot of the confirmed transaction if you want, just in case they ask for proof, but at this point it's safe enough to block them. And that's how you make 100s of dollars in bitcoins per day, completely anonymous, less hassle than other methods and less risk involved! I hope you found this useful because it took me forever to write this. Below I made a pros and cons list for a quick summary. Happy scamming! :) Pros of cryptoconning: - Completely anonymous, can't be traced back to you, especially if you launder it through Monero - No downloads needed (except wallet and social media, but if you're on this sub you should probably already have those!) - Faster than other methods, both setting up and actually executing; victims are more straight forward and willing to pay - No need to maintain relationships with victims (also a con) - Less risk than other money making methods (DNA is being cracked down on) - Doesn't take up your time unlike e-whoring - Less saturated than e-whoring Cons of cryptoconning: - Requires you to trade bitcoins for IRL currencies if you want to move it to PayPal/bank accounts - Requires more promotion than other methods, can't just stick a profile on kikfriender.com and let it do it's thing lol - Victims are one time use, unlike e-whoring - Bigger risk of account being banned
04-03 12:33 - 'Paul Le Roux' (self.Bitcoin) by /u/financeoptimum removed from /r/Bitcoin within 191-201min
''' Paul Le Roux is a fascinating character, whose story entails drugs, gold, arms dealing, North Koreans, Iranians, elite-level encryption, Somali pirates, women...and more women. Let's get into it... Part 1/5 - The Early Years Paul Le Roux was born on Christmas Eve, 1972, in Bulawayo, the second-largest city in what was then called—by the white minority that governed it, at least— Rhodesia. In 1980, Robert Mugabe became prime minister of what would now be called Zimbabwe, ending minority white rule in the country. Four years later, when Le Roux was 12, the family relocated to South Africa. Not long after the move, in exchange for washing his father’s car, Le Roux was given his first computer. After that, a relation of Le Roux states that he became "completely anti-social.” When Le Roux was 15 or 16, in the late 1980s, the local police raided the family home and arrested Paul for selling pornography. After that, Le Roux turned even more inward. Although he was an excellent student, he despised the idea of learning Afrikaans, which was compulsory in South African schools, describing it as "a dead language" that he "didn't want to learn." At 16, he dropped out of high school and decided to follow his interest in computers, taking a local programming course. Family lore has it that after he spent one class explaining some technical fact to the teacher, he got a letter saying he no longer needed to attend. He then completed a year’s worth of material in eight weeks! Accounts of Le Roux do indicate that he was exceptionally gifted, and people who worked with him described him as a genius. After returning from a family holiday to Disneyland in the US, 17-year-old Le Roux decided to leave South Africa, and departed for the UK eight months later to work as a programmer. He then moved from the UK to the US, where he lived in Virginia Beach. After six months in the US, he followed his then-girlfriend Michelle to Australia in 1995. The couple married and Le Roux acquired Australian citizenship. Le Roux frequented message boards and enjoyed trolling Australians. A typical post read: "All of Australia could disappear into the Pacific and the only difference it would make to the World is the Americans would have one less pussy country to protect." His posts caused outrage on the board - someone even changed their handle to fuck @ you.paul Le Roux would later declare that his correspondents had fallen for his ploy: "Australians are east to provoke and your postings (including 2 death threats, numerous flames, and one guy who swears he has my address & phone number) have provided me with hours of amusement." Of course, Le Roux did more than just troll Australian message boards in this period... Le Roux had started building E4M - Encryption for the Masses - in 1997, releasing it at the end of 1998. Part 2/5 - The Turning Point E4M allowed users to encrypt entire hard drives, and to conceal the existence of encrypted files (such that prying eyes wouldn't even know they were there). According to Le Roux, the software was written from scratch, with thousands of hours going into its development and testing. As well as this, in the [Politics section of the E4M website]1 , Le Roux published a sort of Manifesto, describing how "governments are increasingly relying on electronic data gathering" and how "Strong Encryption is the mechanism with which to combat these intrusions, preserve your rights, and guarantee your freedoms into the information age and beyond." In the spirit of the open-source software movement in the late 90s, Le Roux released E4M for free and made the code available for other people to improve. Therefore, with no income from his two years of labor, he was struggling financially. His marriage fell apart violently and the couple got divorced in 1999. Le Roux first relocated to Hong Kong, then to Rotterdam in the Netherlands. He married a Dutch citizen named Lilian, and they had a child shortly after. In 2000, in order to monetize E4M, Le Roux launched [SW Professionals]2 in 2000. Based in South Africa, the company offered offshore programming, including E4M customization. One of Le Roux's clients was an Italian telecoms engineer called Wilfried Hafner, who had corresponded with Le Roux for several years about E4M. Hafner had founded a company to create a commercial encryption product that would combine some of the elements of E4M with another piece of software, Scramdisk. The new company would be called SecurStar, and its product would be called DriveCrypt. Hafner hired Le Roux to build DriveCrypt's underlying engine. At the time, Le Roux was desperate for money - he drove a beat up car and worked out of a Rotterdam apartment small enough that, on the phone, Hafner could often hear a baby crying in the background. Hafner on the other hand was living in the South of France, and Le Roux openly coveted the kind of success that he imagined led to such a home. He told Hafner: "I am ambitious, I want to have all this." However, in the middle of the development work for DriveCrypt, Hafner discovered that Le Roux was still working on E4M and had incorporated some of his work for SecurStar into his personal project. As a result, Hafner terminated Le Roux's contract. By October 2002, SW Professionals was now defunct and Le Roux was openly soliciting for work on the alt.security.scramdisk forum. It was around this time that Le Roux received some news that "shattered his whole world." In 2002, he travelled to Zimbabwe to retrieve a copy of his birth certificate. On the trip, his aunt and uncle pulled him aside to tell him the truth, and it was then that Le Roux found out he was adopted. Although many family members had known for years, Le Roux’s parents had elected to keep him in the dark about it. It was the "unknown" part that hurt him the most. Shortly after, Le Roux appeared on an another set of message boards - he seemed to be launching some kind of moneymaking scheme that required opening a company based in the U.S. In 2004, a group of anonymous developers did exactly what Hafner had feared: they released a new and powerful, free file-encryption program, called TrueCrypt, built on the code for E4M. TrueCrypt combined security and convenience, giving users the ability to strongly encrypt files or entire disk drives while continuing to work with those files as they would a regular file on their computer. Hafner and his SecurStar colleagues suspected that Le Roux was part of the TrueCrypt collective but couldn't prove it. As we'll explore in Part 5, TrueCrypt is an interesting part of this story... Part 3/5 - Money and Power After Le Roux's departure from the encryption world, at least under his own name, he entered the Internet-pharmacy business. What Le Roux did next was combine two of America's favourite past times, popping pills and online shopping, and the results were sensational. He turned over around $300MM in 4 years. In 2007, Le Roux moved his family to Manila, where he would base his operations. He also had call centres in Israel. This was a brilliant move by Le Roux, as the authorities were not looking at Tel Aviv and Jerusalem as hot-spots for a large-scale organised crime operation... Le Roux was moving serious volume during this time - his operation was once one of FedEx's largest customers. A relative of Le Roux pointed to 2008 or 2009 as the point at which Le Roux snapped. "I think the money got to him. I personally saw $100 million in his office in Makati. Cash, bud. It was fucking ridiculous. It was in wicker baskets lined up on the side of the wall in his office." Le Roux's appetite only grew, and not just in the literal sense (he was known as the "Fat Man" in the Philippines): he wanted to be a different kind of businessman, a lord of the real underworld, not just the virtual one. An Israeli associate of Le Roux tells how "Le Roux wanted to make more money, fast. Le Roux wanted to diversify, to be bigger. The only way to do that was illegal. He was living inside a movie, you could almost say." As well as this, Le Roux was notorious for his sexual exploits - he once wrote to his cousin, "15-20 a week, sometimes 3 per night." A former call centre employee tells how Le Roux approached him with an assignment, which at first he thought was collecting women for Le Roux to open a bar. However, that was not the reason, as Le Roux explained: "I'm going to impregnate them, and build an army of kids." Le Roux asked him to make a spreadsheet to track the women: their names, dress size, age, medical checkups. The operation was given top priority by Le Roux, who even sent his emissary to China to try to find women there. It is rumoured that Le Roux has at least 11 children to 7 different women! Le Roux's businesses expanded into logging, precious metals mining, gold smuggling, land deals, cocaine shipping, and arms dealing. These activities were spread across dozens of shell companies registered all over the world. Of course, he needed to launder the money. Le Roux used paid muscle in Hong Kong to swap cash for gold bars, and then proceeded to stash the gold in warehouses in Hong Kong (this totalled around $50MM). Speaking of paid muscle, Le Roux had plenty: ex-soldiers and mercenaries made sure any problems were dealt with force if necessary. Le Roux was closest to ex-British soldier Dave Smith, who would act as the leader of the mercenaries and allow Le Roux to insulate himself and not have to deal with people. In fact, Le Roux once told Smith "I live vicariously through you." However, things took a turn for the worse, at least from Dave Smith's perspective, as Smith stole $5MM worth of Gold from Le Roux. Le Roux was furious. He then summoned Smith to his place in the country, and asked him to dig a hole as they needed to stash some gold. However, when he arrived, he was greeted by a South African hit-man. After the hit-man had finished shooting Smith, Le Roux then grabbed the gun and fired into Smith's corpse. Le Roux then set about building an arms base in Somalia. To achieve this, Le Roux called upon an ex-soldier from Europe, code-named 'Jack' to work for him on the ground in Somalia. At sea, Jack had to bribe Somali pirates. It was actually this activity in Somalia that landed Le Roux on the radar of the DEA, as he popped up in a UN Report on security in Somalia. The DEA were now on his tail. Of course, his encryption skills came in handy - Le Roux's thick layers of encryption meant that the DEA needed someone on the inside... Part 4/5 - "Well played gentlemen, well played" Le Roux was getting more and more paranoid about people in his organisation stealing from him. Without justification, he suspected that his self proclaimed 'Golden Boy' Jack was stealing from him - so he ordered a hit on Jack. This was a huge mistake on Le Roux's part, as Jack then called a CIA hotline and went on the run. It was 18 months later that a DEA investigating Le Roux found Jack's message to the CIA. The DEA agent then called Jack. Scared for his life, Jack agreed to turn informant. In the meantime, Le Roux then had a change of heart and apologised to Jack for ordering the hit on him. The DEA then asked Le Roux to go back to work for Le Roux - they now had someone on the inside. To tempt Le Roux, the DEA devised a sting operation. They knew that Le Roux wanted novelty and excitement. So they fabricated the scenario that Jack had made contact with a high profile Colombian trafficker, and the Colombians wanted to bypass the Mexicans for their meth supply in the US. Le Roux was hooked. However, the DEA needed to lure Le Roux out of Manila, as his network of corrupt officials would ensure he will never be arrested. Jack needed to get Le Roux to Liberia (where the DEA had a trusted ally in Fombah Sirleaf, Head of Liberia's National Security Agency). Jack achieved this by saying that they needed to meet a cartel representative to finalise the deal. It worked, and Le Roux was arrested. Initially, Le Roux went into passive resistance - he was a big unit (hence the nickname "Fat Man") - and it took around 10 agents to get him on the plane to fly back to the US. Well he settled on the plane, the first thing Le Roux said to the DEA agents was: "Well played gentlemen, well played." He then said: "If you're looking at me, then clearly you're looking at bigger things..." The DEA agents were intrigued: "No Paul, you're the prize - what could possibly be bigger than you?" Le Roux responded: "Nation states gentlemen, nation states." He then started to spew out extremely valuable information on North Korea and Iran. Of course, this wasn't the only leverage Le Roux had... The enforcers who were once on Le Roux's payroll needed to be held accountable for their numerous murders, and the DEA were desperate to get them behind bars. Le Roux was key in their eventual capture. But that's not all: a crucial piece to this story is Part 5... Part 5/5 - TrueCrypt As we discussed previously, Le Roux was rumoured to be a member of the TrueCrypt collective. In November 2012, a man with the online handle Cincinnatus decided to throw a party in Hawaii. The idea arose out of an email exchange with Runa Sandvik, a developer and expert on the online software Tor, which allows its users to mask the physical location of their computers on the Internet. After she gave a Tor tutorial on Reddit, Cincinnatus sent Sandvik an encrypted message. Cincinnatus told Sandvik that he lived in Hawaii. Sandvik mentioned that she would be there on vacation the following month and could give a talk on Tor. Cincinnatus suggested they host a “cryptoparty,” a phenomenon that had arisen around that time among technology- and privacy-conscious activists. The date was set for December 11. Unbeknownst to Sandvik, her fellow party planner was hatching a much more elaborate education scheme. Four days after he contacted Sandvik, Cincinnatus sent an email to the journalist Glenn Greenwald. “The security of people’s communications is very important to me,” he wrote. In a series of emails, he suggested that Greenwald set up an encrypted means by which sources could contact him. Cincinnatus organized the cryptoparty at a hacker space called HiCapacity, located in the back of a furniture store in Honolulu. When Sandvik arrived around 6 p.m., Cincinnatus introduced himself as Ed and told her that he worked at the computer-hardware company Dell. Ed kicked off the evening by welcoming the attendees, then invited Sandvik to give her presentation on Tor. When she was finished, Ed pulled out his laptop, plugged it into the projector, and began his own instructional talk about TrueCrypt. In Ed’s presentation, Sandvik later wrote, he “pointed out that while the only known name associated with TrueCrypt is someone in the Czech Republic, TrueCrypt is one of the best open-source solutions available.” Six months later, in June 2013, Greenwald and filmmaker Laura Poitras published the first of a series of articles that grew out of their contact with Cincinnatus. In time they revealed that his full name was Edward Snowden, that he had worked in various capacities at the National Security Agency, and that he had downloaded and handed over a trove of documents from the NSA in an effort to blow the whistle on what he believed were egregious privacy encroachments by the U.S. government. Among them was a document revealing that TrueCrypt was one of a small number of encryption programs that had withstood the NSA’s efforts to crack it. What Snowden and the rest of the world wouldn’t know for another two years was that Paul Le Roux, the man whose code formed the foundation of True Crypt, was at that very moment in the custody of the U.S. government. Le Roux was in a bind, facing the full force of a U.S. federal prosecution for any number of his extraordinary array of crimes. The only way out was to spill his secrets... [[link]4 ''' Paul Le Roux Go1dfish undelete link unreddit undelete link Author: financeoptimum 1: e4m.net/**l*ht*l 2: e4m*net* 3: www.yout*be.co*/watc**v=z**aMoJ**k* 4: www.youtube.com/watc*?v*z*Za*o***kc**^* Unknown links are censored to prevent spreading illicit content.
If you are planning to place assets into cryptographic types of cash like Bitcoin or Ether, in any case, you do not understand where to start, this Gemini exchange review will help you with choosing. Gemini Bitcoin Exchange Review 2020 You need yourself to be a productive advanced cash intermediary. By what technique will you become? To help you here's an exchange review, which will give every one of you the low down information required for a powerful enthusiasm for one of the most trusted in stages the Gemini Exchange. We should find all the more right currently review Gemini Review : About Gemini Exchange Twin kin developed Gemini Winklevoss in the year 2014. The Gemini exchange is arranged in New York. The Gemini crypto exchange is open in essentially all US states, similarly as UK, Canada, Puerto Rico, Singapore, South Korea, and Hong Kong. In 2016, Gemini transformed into the world's recently approved Ether exchange. It positions 82th greatest exchange on earth as showed by 24-hour volume on Coinmarketcap. While Gemini Bitcoin and Gemini Ethereum trading volumes are high, the exchange is endeavoring with all undertakings to fight with those stages offering a predominant piece of the cryptographic types of cash, for instance, Binance. Reinforced Currencies Gemini offers crypto to fiat portions and a BTC/ETH grandstand, which makes it a quick contender to any similarity to Coinbase, Bitstamp, and Kraken. At present, it is one of the most respected and ensure about exchanges open. This is in light of the fact that it has more features to help secure customers against developers. Also, it is one exchange for the CBOE Bitcoin future settlement. Gemini Mobile application is directly available, which is amazingly basic and versatile to use. How to use Gemini? https://preview.redd.it/qnowl19fwaj41.jpg?width=720&format=pjpg&auto=webp&s=1819eeac9d4c44681c0afe616d387b60a78f7c8e 1) Go to the official site and snap the "Register" tab on the upper right corner. Enter your name, email address, and mystery word for your own record. While affirming your email address, it is critical to : Affirm your email address and enter both your region and phone number, by then you can set up 2-Factor Authentication (2FA) which will be an additional layer of security to your record. Incorporate your monetary equalization. Starting at now, Gemini recognizes simply bank moves and wires, as a methodology for putting away holds. To check your record, move your organization ID proof. This will help you with executing and trade US Dollars. Moreover, it will help Gemini with as per the Bank Secrecy Act (BSA) and Anti Money Laundering (AML) rules. The affirmation time may run from a couple to a couple of days. Subsequent to completing of all the above strategies, you can use your record for financing. gemini crypto exchange 2) Deposit Currency In the Menu, click Transfer Funds, by then find a good pace Bank Transfer and Exchange. Enter the whole you have to store here. Moreover, note $500 consistently is the most extraordinary most extreme for Bank moves. 3) Trading Bitcoin and Ethereum As you store by methods for bank move, they are quickly available for trading. you can purchase by encountering the menu and picking your supported trading pair. For example, for Bitcoin BTC/USD similarly as Ethereum ETH/USD. In the wake of embeddings the expense and sum it will process your buy demand. There is another choice to trade by methods for the business community which has exhibit orders gave by various customers. After the fulfillment of your purchase, your record will be acknowledged with your Ethereum just as Bitcoin purchases. You can sell your computerized cash on the Gemini crypto exchange. Regardless of the way that you can't make a withdrawal until your bank move has been completely arranged. gemini sponsor organization 4)Trading Limits By and by, For most trade strategies, there are no limitations on trades. In any case, Automated Clearing House (ACH) moves have the greatest store most remote purpose of $500 day and $15,000 consistently for singular record holders. Associations have a state of restriction for making ACH stores of $10,000 consistently or $300,000 consistently. Gemini Marketplace There is a Gemini business focus that runs 24*7. Here, you can have indistinguishable number of solicitations from you wish to have, with a variety of trading choices. These include: Market Orders – With the present best open worth, the solicitations here starting dealing with quickly against resting orders. Purpose of repression Orders – The sum is filled at or better than a given expense. The sum which isn't dispatched lays on the solicitation book diligently until it is filled or dropped. Brief or Cancel (IOC) Limit Orders – The sum is filled at or better than a given expense. The sum which isn't filled rapidly is dropped and doesn't lay on the perpetual solicitation book. Maker or Cancel (MOC) Limit Orders – The sum lays on the solicitation book continually at a foreordained expense. Furthermore, the entire solicitation is dropped if there is any sum that can be filled immediately. All solicitations made on this stage are totally sponsored and fill in as a full hold exchange. In any case, there is no edge trading Gemini. Despite that, reliably the customer's record equality should have more balance than the exceptional excitement on demand books. Also, all open solicitations decline your available leveling until they are fulfilled or dropped Gemini Fees In the event that there ought to be an event of moves, Gemini crypto exchange has a low cost technique and stage customers can store Bitcoin, Ether, at freed from charges for both bank and wire moves. In any case, banks will charge a cost for the customers to wire money to their Gemini account. Withdrawals on the stage are free and all customers will have 30 free withdrawals for each calendar month. Any withdrawals more than this total will pull in costs comparable to the mining charges payable on either sort out. The costs are around 0.001 BTC or 100,000 Satoshi per trade on the Bitcoin Network and 0 GWei or 0 ETH per trade on the Ethereum Network. MakeTaker charges 0.25% is the trading costs for both sellers(makers) and buyers(takers). If it shows up at certain trade volumes, charges will be reduced. The maker charge is 0% for 30-day trading volumes that outperform 5,000 Bitcoin or 100,000 Ether. For a comparable trading entirety, the taker run after will bubble to 0.10%. Gemini uses dynamic maker and taker charge or reimbursement timetable, and sellers can get reimbursement on liquidity-creation trades. The particular entireties depend upon net trading volumes and the buy and sell extent over a multi day time allotment. The data are adjusted as expected and more information on charges can be found here. https://preview.redd.it/exgucn9gwaj41.png?width=225&format=png&auto=webp&s=34fc66d46df40444abcc9ac61308106b2e3f57c0 charges Concerning purchases, the base purchase whole for Bitcoin is 0.00001 BTC, or 1000 satoshis, for Ether, the base sum is 0 .001 ETH Security-at-Gemini Bitcoin Gemini Reviews, is a strong exchange that has a better than average reputation in everyone. The exchange goes about as a way into the universe of cryptographic cash trading. This may be in light of the fact that various customers first quit concerning purchasing Bitcoin and Ethereum. In comprehension to Coinbase, Gemini has a near space. Wherein it allows its customers to make trade clearly to and from their records. Gemini is a not too bad choice, for people looking to securely trade either Bitcoin or Ethereum. The exchange is a potential decision for new competitors to the market similarly as logically settled sellers who like to make trades by methods for their monetary adjusts. Latest News Dec 17, 2019: Well realized cash related pro association State Street picked Gemini exchange for the new propelled asset pilot adventure. Nov 19, 2019: Gemini exchange wanders into NFT's and acquired Nifty Gateway Solution, a phase to buy Non-Fungible Tokens. Nov 14, 2019: The exchange added Stop-Limit to the solicitations being executed on the stage. Sep 11, 2019: Gemini dispatches Gemini Custody with 18 cryptographic types of cash Sep 5, 2019: Gemini Clearing™, a totally electronic clearing and settlement answer for off-exchange exhibited by the stage Aud 27, 2019: Gemini Joins the Silvergate Exchange Network Aug 22, 2019: Gemini loosens up and reaches to Australia April 15, 2019: Gemini wallet support Segwit Gemini Bitcoin Exchange Review Rundown: How to Buy Bitcoins by means of Gemini Register a record at Gemini and check email code sent to you. Set up two-factor validation (2FA). Give checked ID as a major aspect of the confirmation procedure. Include ledger. Store cash by clicking "Move Funds", "Store into Exchange" and afterward picking the sort of bank move. Snap "Purchase" catch and round out the buy structure to get BTC. Is Gemini Safe? Gemini is extremely worried about its clients' wellbeing, in this manner it utilize three arrangements of security... MORE Gemini Comparison with Other Exchanget To exchange bitcoins you have to initially peruse and think about various BTC trades... MORE In Which Countries Is Gemini Available? You can arrange bitcoins through Gemini nearly in any nation, yet discover where you can't... MORE Guide: Buying BTCs at Gemini It is anything but difficult to purchase bitcoins on Gemini trade, knowing the essential standards and prerequisites... MORE FAQ Discover to what extent the exchange takes, how to pull back BTCs and what strategies for... MORE Practically equivalent to Bitcoin Exchanges We have arranged a rundown of trades, notwithstanding Gemini, that can assist you with requesting bitcoins... MORE With developing worth and system, bitcoin is ready to turn into the main online resource in the realm of ventures. Gemini bitcoin trade survey This article is worried about one of the most well known trades with regards to BTC exchange, Gemini. What Is Gemini? Gemini is one of the realized digital money trades that offer an assortment of exchange apparatuses for speculators that have some involvement with the business. The organization that claims the stage is enrolled as LLC in New York State, USA, offering USD to BTC and USD to ETH exchange trade. Purchase BTC at Gemini Propelled in 2015, Gemini offers two unmistakable commercial centers, them being: customary trade administrations; bitcoin barters. Upon its appearance, the stage offered its administrations in the US just, bit by bit including different nations all the while. The organization is possessed by the Winklevoss twins, who guarantee that they are have about 1% of the complete BTC volume. Winklevoss siblings are Gemini's proprietors Gemini Security With regards to the wellbeing of your assets, Gemini applies three arrangements of safety efforts that should be referenced. To start with, the stage applies advanced money safety efforts by offering hot and cold stockpiling wallets, where cold wallets have multisig capacities to forestall hacking endeavors at your equalizations. Gemini security The subsequent measure is identified with the exchange where the entirety of the exchanges at Gemini are led through pre-financed accounts, implying that merchants and purchasers can't post orders on the off chance that they don't have adequate BTC or fiat monetary forms in their parities. Finally, the site security comprises of two-factor verification (2FA) and HTTP encryption of all data in regards to merchants and stage's exchanges from outsiders. Accessible Payment Methods As of now, Gemini acknowledges stores communicated distinctly in ACH (for US dealers) and wire moves (for every other person) communicated in USD. Credit or check cards, money stores, PayPal and numerous different alternatives are wanted to be remembered for the future however are not accessible at the present time. Buy bitcoin by means of wire move You ought to buy in to the Gemini news source since the organization will promote the new store strategy through that channel of correspondence. Shouldn't something be said about Fees? While saving or pulling back your assets communicated in fiat or computerized monetary forms, dealers would find that the administrations are done totally free. Then again, Gemini charges exchange expenses are charged dependent on a month to month net exchange volume. Taker charges can extend from 0.15% to 0.25% while creator expenses from 0% to 0.25%. Expenses at the trade Does Gemini Have Limits? Cryptographic money and wire stores and withdrawals don't have any constraints forced on dealers, implying that in the event that you utilize the said administrations, you can buy, sell and pull back bitcoins with no deterrents. Singular American financial specialists utilizing ACH move, then again, have $500 every day and $15.000 month to month while institutional individuals have $10.000 day by day and $300.000 month to month store limits. No restrictions for purchasing bitcoin Gemini Comparison When thinking about exchanging at any trade, you should hope to analyze the administrations, expenses and impediments with other comparative stages. In this manner, we have assembled an examination investigation where we benchmarked Gemini against two other well known decisions with regards to BTC buy: Kraken and Coinbase. Gemini versus Kraken Kraken, much the same as Gemini, acknowledges bank moves just, with the significant contrast being that Kraken permits 5 fiat cash stores. Notwithstanding bitcoin, there are 14 more altcoins that you can exchange with at Kraken while the two trades force check on their customers as they are both controlled organizations. Gemini versus Kraken Kraken is fundamentally the same as Gemini as far as expenses, as creatotaker charges go somewhere in the range of 0% and 0.26%. Bank moves do accompany little expenses at Kraken while Gemini acknowledges stores for nothing. In conclusion, while Gemini exchanges two or three nations in particular, Kraken is all around accessible. Coinbase versus Gemini Coinbase is viewed as one of the biggest bitcoin suppliers on the planet, offering its administrations in 32 nations, USA notwithstanding. The installment strategies at Coinbase are PayPal, bank moves and credit/check cards, two more than Gemini. Request bitcoins by means of Coinbase trade Confirmation is an absolute necessity have at Coinbase, much like in Gemini while expenses are a ton lower at Gemini, as you pay between 1.49% to 3.49% from exchange's an incentive at Coinbase. The two trades offer BTC vaults and wallet administrations while Coinbase additionally exchanges with Litecoin which are inaccessible at Gemini. Gemini BTC Exchange in Different Countries Gemini's administrations are accessible in a bunch of nations around the globe, them being the US (5 states not upheld), Canada, Japan, South Korea, Hong Kong, Singapore and the United Kingdom. The five US expresses that are not bolstered are Alaska, Arizona, Hawaii, Oregon and Wisconsin. Gemini trade in various nations Is It Legal? Gemini is an American LLC that adheres to New York Banking Law guidelines, actualizing BSA (Bank Secrecy Act) and AML (Anti-Money Laundry Compliance Program) arrangements, implying that customary reviews of the BSA/AML programs are being executed. Moreover, the firm requires all merchants to have reserves pre-saved before the exchange. Bitcoin Gemini Price, is legitimate Another significant factor of the stage's lawfulness is the way that since its beginning, Gemini has promptly accessible money related report dating 7 years back. Does Gemini Support Its Customers? Concerning the client service, Gemini has a thorough FAQ page where a large portion of the exchanging questions have been replied. Notwithstanding the FAQ, you can likewise top off a shape and present a solicitation to the Gemini group with respect to any issue that you may look on the stage. Gemini client service Because of the regular upkeep of the site's administrations, Gemini has a "Status" page where financial specialists can see which administrations and API instruments are working right now and which are definitely not. Manual for Buy Bitcoins from Gemini When you have gotten the cash at your Gemini account, click "Purchase" button on the dashboard page. Buy page for bitcoins at Gemini Presently, round out the structure on the right, giving request type, volume or estimation of BTC you wish to get and click "Purchase" to get bitcoins in your record immediately. Try to check the BTC cost at the upper left piece of the "Purchase" page to ensure it has not changed at the time you have begun the buy procedure. Enrollment It is totally allowed to enroll a record at Gemini bitcoin trade and the procedure begins once you click "Register" button at the upper right corner of the site. Give your complete name, email address and secret key in subsequent stage and snap "Make My Account". Make account at Gemini You will get an email code which you should duplicate glue into the Gemini's check page. Contribution of enactment code on Bitcoin Gemini Registration The accompanying advances will open up for you to finish, in this way you have to arrangement your 2FA security apparatus, include a financial balance and give checked ID to finish the enrollment methodology. To what extent Should I Wait for Verification? Check stage can take between an hour and a day, contingent upon various enlistment applications Gemini has right now you have begun the procedure. You ought to set up every single essential report before you start and arm yourself with persistence as a stage would set aside effort to process your data. Confirmation process at Gemini Would you be able to Get Bitcoins Without Verification? At the enlistment page, you are required to check your personality and frog your financial balance. When you have presented the records, you can't enter the stage's exchange page until the help affirms your subtleties. In this way, it is unimaginable to expect to buy supply of bitcoins without confirmation. Obligatory confirmation before purchasing BTCs at Gemini How to Add Money to Account? When you have finished the enrollment and confirmation of your record, click button "Move Funds", situated in the top segment of your dashboard page. In following stage, click "Store Into Exchange" and pick either USD or Wire alternative, contingent upon what financial balance you have included at enrollment stage. Add assets to Gemini account You can likewise store bitcoins in your Gemini wallet too. Store BTCs in the Gemini wallet At the last phase of wire move subsidizing process, you have to give bank's wiring data, for example, your record number and other significant data that can be found by clicking "Bank Settings". Give bank's wiring data When data has been given, basically click "Store" button which will show up at the base of the page. Secure Your Account Keep the entirety of your record and wallet passwords out of the programmer's compass by continually evolving them. Monitor the new secret key by keeping in touch with them down on a bit of paper as to not overlook them meanwhile. Record with 2FA on trade You as of now have 2FA from the enlistment stage and don't give your private data to some other dealer on the stage. FAQ To what extent Does It Take to Make Transaction? It takes 4 to 5 days to store assets in your Gemini account while exchanges themselves are done following you the exchange started. Diverse request types have distinctive length, contingent upon what dealer wishes to accomplish. Sitting tight for exchanges on the trade Would i be able to Buy Bitcoin with PayPal at Gemini? Now, brokers can't utilize PayPal as store technique at Gemini. You ought to buy in to the trade's news channel as to get warnings if the strategy opens up to store alternative later on. Does Gemini Have a BTC Wallet? The stage offers two kinds of wallet administrations, one being "hot" wallet and another being vault stockpiling. Both are based just, with the principle contrast being that vault stockpiling gives extra security keys that are utilized while moving bitcoins all through the wallet. Along these lines, vault administrations are esteemed as more secure than the standard BTC wallet. Gemini wallet Pulling back Your Bitcoins from Gemini At the dashboard page, click "Move Funds" and afterward "Pull back From Exchange" to begin the procedure. Pick bitcoins to continue towards the withdrawal structure. Determine the measure of BTC you with to escape the trade and give your wallet address. Snap "Survey Withdrawal" and check the data. When you are fulfilled, click "Affirm" to end the procedure. Your coins will show up inside 24 hours to your ideal area. Pull back BTC from Gemini Instructions to Order BTC with Credit/Debit Card at Gemini As with PayPal, it is preposterous to expect to buy bitcoins with the assistance of credit or charge cards at Gemini, since the choice isn't accessible right now. Stay aware of trade's news and declarations as the CC/DC choice may open up later on. Gemini Mobile App Portable stages are yet to be created by Gemini, implying that exchange is accessible on perusing stage as it were. Watch out for the declaration, as the organization may make the push towards telephone exchange not so distant future. Purchase BTC just on Gemini perusing stage Gemini Analogs Aside from Gemini, we at BitcoinBestBuy have checked on numerous different stages that can assist you with getting bitcoins effectively and securely. They all change regarding local accessibility, expenses, buy strategies and confirmation necessities, so make a point to check different articles also. Get BTC at digital money stages Coinbase Exchange Review Being one of the biggest BTC exchanging stages the world, we made a survey of their charges, store choices and other important data with respect to the trade. We have likewise given bit by bit controls on the best way to buy and pull back assets and coins from Coinbase. Coinbase survey Full Review Coinbase Bitcoin Gemini Exchange Find out About Kraken Kraken is another trade that offers bitcoins through bank moves and its administrations are all inclusive accessible. We made a survey of Kraken's advantages and disadvantages, giving our customers a diagram of the trade as far as expenses the organization charges, check prerequisites and buy procedures of the stage. https://www.cryptoerapro.com/bitcoin-gemini/ http://www.cryptoerapro.com/ https://twitter.com/cryptoerapro https://www.instagram.com/cryptoerapro/ https://www.pinterest.co.uk/cryptoerapro/ https://www.facebook.com/cryptoerapro https://www.facebook.com/pg/bitcoingeminibot https://www.facebook.com/events/282310836080639/
Thank you for being a part of the ColossusXT Reddit AMA! Below we will summarize the questions and answers. The team responded to 78 questions! If you question was not included, it may have been answered in a previous question. The ColossusXT team will do a Reddit AMA at the end of every quarter. The winner of the Q2 AMA Contest is: Shenbatu Q: Why does your blockchain exist and what makes it unique? A: ColossusXT exists to provide an energy efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through Obfuscation Zerocoin Protocol, and I2P and these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid. Q: What is the Colossus Grid? A: ColossusXT is an anonymous blockchain through obfuscation, Zerocoin Protocol, along with utilization of I2P. These features will protect end user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist. Q: When will zerocoin be fully integrated? A: Beta has been released for community testing on Test-Net. As soon as all the developers consider the code ready for Main-Net, it will be released. Testing of the code on a larger test network network will ensure a smooth transition. Q: Is the end goal for the Colossus Grid to act as a decentralized cloud service, a resource pool for COLX users, or something else? A: Colossus Grid will act as a grid computing resource pool for any user running a COLX node. How and why we apply the grid to solve world problems will be an ever evolving story. Q: What do you think the marketing role in colx.? When ll be the inwallet shared nodes available...i know its been stated in roadmap but as u dont follow roadmap and offer everything in advance...i hope shared MN's to be avilable soon. A: The ColossusXT (COLX) roadmap is a fluid design philosophy. As the project evolves, and our community grows. Our goal is to deliver a working product to the market while at the same time adding useful features for the community to thrive on, perhaps the Colossus Grid and Shared Masternodes will be available both by the end of Q4 2018. Q: When will your github be open to the public? A: The GitHub has been open to the public for a few months now. You can view the GitHub here: https://github.com/ColossusCoinXT The latest commits here: https://github.com/ColossusCoinXT/ColossusCoinXT/commits/master Q: Why should I use COLX instead of Monero? A: ColossusXT offers Proof of Stake and Masternodes both which contribute layers in protection from 51% attacks often attributed with Proof of Work consensus, and in being Proof of Work(Monero) ColossusXT is environmentally friendly compared to Proof of Work (Monero). You can generate passive income from Proof of Stake, and Masternodes. Along with helping secure the network.What really sets ColossusXT apart from Monero, and many other privacy projects being worked on right now, is the Colossus Grid. Once plugged into the Colossus Grid, a desktop machine will draw computational horsepower from all the other computers on the grid. Blockchain, was built on the core value of decentralization and ColossusXT adhere to these standards with end-user privacy in mind in the technology sector. Q: With so many coins out with little to no purpose let alone a definitive use case, how will COLX distinguish itself from the crowd? A: You are right, there are thousands of other coins. Many have no purpose, and we will see others “pumping” from day to day. It is the nature of markets, and crypto as groups move from coin to coin to make a quick profit. As blockchain regulations and information is made more easily digestible projects like ColossusXT will rise. Our goal is to produce a quality product that will be used globally to solve technical problems, in doing so grid computing on the ColossusXT network could create markets of its own within utilizing Super-computing resources. ColossusXT is more than just a currency, and our steadfast approach to producing technical accomplishments will not go unnoticed. Q: Tell the crowd something about the I2P integration plan in the roadmap? 🙂 A: ColossusXT will be moving up the I2P network layer in the roadmap to meet a quicker development pace of the Colossus Grid. The I2P layer will serve as an abstraction layer further obfuscating the users of ColossusXT (COLX) nodes. Abstraction layer allows two parties to communicate in an anonymous manner. This network is optimised for anonymous file-sharing. Q: What kind of protocols, if any, are being considered to prevent or punish misuse of Colossus Grid resources by bad actors, such as participation in a botnet/denial of service attack or the storage of stolen information across the Grid? A: What defines bad actors? ColossusXT plans on marketing to governments and cyber security companies globally. Entities and individuals who will certainly want their privacy protected. There is a grey area between good and bad, and that is something we can certainly explore as a community. Did you have any ideas to contribute to this evolving variable?What we mean when we say marketing towards security companies and governments is being utilized for some of the projects and innovating new ways of grid computing. Security: https://wiki.ncsa.illinois.edu/display/cybersec/Projects+and+Software Governments: https://www.techwalla.com/articles/what-are-the-uses-of-a-supercomputer Q: The Colossus Grid is well defined but I don't feel easily digestible. Has their been any talk of developing an easier to understand marketing plan to help broaden the investoadoptor base? A: As we get closer to the release of the Colossus Grid marketing increase for the Colossus Grid. It will have a user friendly UI, and we will provide Guides and FAQ’s with the release that any user intending to share computing power will be able to comprehend. Q: Can you compare CollossusXT and Golem? A: Yes. The Colosssus Grid is similar to other grid computing projects. The difference is that ColossusXT is on it’s own blockchain, and does not rely on the speed or congestion of a 3rd party blockchain. The Colossus Grid has a privacy focus and will market to companies, and individuals who would like to be more discreet when buying or selling resources by offering multiple levels of privacy protections. Q: How do you guys want to achieve to be one of the leaders as a privacy coin? A: Being a privacy coin leader is not our end game. Privacy features are just a small portion of our framework. The Colossus Grid will include privacy features, but a decentralized Supercomputer is what will set us apart and we intend to be leading this industry in the coming years as our vision, and development continue to grow and scale with technology. Q: With multiple coins within this space, data storage and privacy, how do you plan to differentiate COLX from the rest? Any further partnerships planned? A: The Colossus Grid will differentiate ColossusXT from coins within the privacy space. The ColossusXT blockchain will differentiate us from the DATA storage space. Combining these two features with the ability to buy and sell computing power to complete different computational tasks through a decentralized marketplace. We intend to involve more businesses and individuals within the community and will invite many companies to join in connecting the grid to utilize shared resources and reduce energy waste globally when the BETA is available. Q: Has colossus grid had the best come up out of all crypto coins? A: Possibly. ColossusXT will continue to “come up” as we approach the launch of the Colossus Grid network. Q: How far have Colossus gone in the ATM integration A: ColossusXT intends to and will play an important role in the mass adoption of cryptocurrencies. We already have an ongoing partnership with PolisPay which will enable use of COLX via master debit cards. Along with this established relationship, ColossusXT team is in touch with possible companies to use colx widely where these can only be disclosed upon mutual agreement. Q: How does COLX intend to disrupt the computing industry through Grid Computing? A: Using the Colossus Grid on the ColossusXT blockchain, strengthens the network. Computers sit idly by for huge portions of the day. Connecting to the Colossus Grid and contributing those idle resources can make use of all the computing power going to waste, and assist in advancing multiple technology sectors and solving issues. Reducing costs, waste, and increased speed in technology sectors such as scientific research, machine learning, cyber security, and making it possible for anyone with a desktop PC to contribute resources to the Colossus Grid and earn passive income. Q: What kind of partnerships do you have planned and can you share any of them? :) A: The ColossusXT team will announce partnerships when they are available. It’s important to finalize all information and create strong avenues of communication between partners ColossusXT works with in the future. We are currently speaking with many different exchanges, merchants, and discussing options within our technology sector for utilizing the Colossus Grid. Q: Will shared Masternodes be offered by the COLX team? Or will there be any partnerships with something like StakingLab, StakeUnited, or SimplePosPool? StakingLab allows investors of any size to join their shared Masternodes, so any investor of any size can join. Is this a possibility in the future? A: ColossusXT has already partnered with StakingLab. We also plan to implement shared Masternodes in the desktop wallet. Q: How innovative is the Colossus Grid in the privacy coin space? A: Most privacy coins are focused on being just a currency / form of payment. No other project is attempting to do what we are doing with a focus on user privacy. Q: Hey guys do you think to integrated with some other plataforms like Bancor? I would like it! A: ColossusXT is in touch with many exchange platforms, however, due to non disclosure agreements details cannot be shared until it is mutually decided with the partners. We will always be looking for new platforms to spread the use of colx in different parts of the world and crypto space. Q: What is the reward system for the master node owners? A: From block 388.800 onwards, block reward is 1200 colx and this is split based on masternode ownestaker ratio. This split is based on see-saw algorithm. With an increasing number of masternodes the see-saw algorithm disincentivizes the establishment of even more masternodes because it lowers their profitability. To be precise, as soon as more than 41.5% of the total COLX coin supply is locked in masternodes, more than 50% of the block reward will be distributed to regular staking nodes. As long as the amount of locked collateral funds is below the threshold of 41.5%, the see-saw algorithm ensure that running a masternode is financially more attractive than running a simple staking node, to compensate for the additional effort that a masternode requires in comparison to a simple staking node.Please refer to our whitepaper for more information. Q: What other marketplaces has the COLX team been in contact with? Thanks guys! Love the coin and staff A: ColossusXT gets in touch for different platforms based on community request and also based on partnership requests received upon ColossusXT business team’s mutual agreement. Unfortunately, these possibilities cannot be shared until they are mutually agreed between the partners and ColossusXT team due to non disclosure agreements. Q:What do you think about the new rules that will soon govern crypto interactions in the EU?they are against anonymous payments A: Blockchain technology is just now starting to become clear to different governments. ColossusXT's privacy features protect the end-user from oversharing personal information. As you are probably aware from the multiple emails you've received recently from many websites. Privacy policies are always being updated and expanded upon. The use of privacy features with utility coins like ColossusXT should be a regular norm throughout blockchain. This movement is part is about decentralization as much as it is about improving technology. While this news may have a role to play. I don't think it is THE role that will continuously be played as blockchain technology is implemented throughout the world. Q: Any hints on the next big feature implementation you guys are working on? According to road map - really excited to hear more about the Shared MN and the scale of the marketplace! A: Current work is focused on the privacy layer of Colossus Grid and completing the updated wallet interface. Q: Why choose COLX, or should I say why should we believe in COLX becoming what you promise in the roadmap. What are you different from all the other privacy coins with block chain establishment already in effect? A: ColossusXT is an environmentally friendly Proof of Stake, with Masternode technology that provide dual layers of protection from 51% attacks. It includes privacy features that protect the user while the utilize resources from the Colossus Grid. Some of the previous questions within this AMA may also answer this question. Q: What tradeoffs do you have using the Colossus Grid versus the more typical distribution? A: The advantage of supercomputers is that since data can move between processors rapidly, all of the processors can work together on the same tasks. Supercomputers are suited for highly-complex, real-time applications and simulations. However, supercomputers are very expensive to build and maintain, as they consist of a large array of top-of-the-line processors, fast memory, custom hardware, and expensive cooling systems. They also do not scale well, since their complexity makes it difficult to easily add more processors to such a precisely designed and finely tuned system.By contrast, the advantage of distributed systems (Like Colossus Grid) is that relative to supercomputers they are much less expensive. Many distributed systems make use of cheap, off-the-shelf computers for processors and memory, which only require minimal cooling costs. In addition, they are simpler to scale, as adding an additional processor to the system often consists of little more than connecting it to the network. However, unlike supercomputers, which send data short distances via sophisticated and highly optimized connections, distributed systems must move data from processor to processor over slower networks making them unsuitable for many real-time applications. Q: Why should I choose Colossus instead of another 100,000 altcoins? A: Many of these alt-coins are all very different projects. ColossusXT is the only Grid computing project with a focus on user privacy. We have instant transactions, and zero-fee transactions and ColossusXT is one of the very few coins to offer live support. Check out our Whitepaper! Q: Will there be an option (in the future) to choose between an anonymous or public transaction? A: Zerocoin is an evolution of the current coin mixing feature. Both allow an individual to decide how they would like to send their transactions. Q: What exchange has highest volume for ColossusXT, and are there any plans for top exchanges soon ? A: Currently Cryptopia carries the majority of ColossusXT volume. We are speaking with many different exchanges, and preparing requested documentation for different exchanges. ColossusXT intends to be traded on every major exchange globally. Q: What is the TPS speed that colx blockchain achieves? A: ColossusXT achieves between 65-67 TPS depending on network conditions currently. Q: Plans on expanding the dev team? A: As development funds allow it, the team will be expanded. Development costs are high for a unique product like ColossusXT, and a good majority of our budget is allocated to it. Q: Can you explain what is and what are the full porpose of the COLOSSUSXT GRID PROJECT ? A: Colossus Grid is explained in the whitepaper. The uses for grid computing and storage are vast, and we are only starting to scratch the surface on what this type of computing power can do. There is also a description within the formatting context within the AMA of the Colossus Grid. Q: Is there mobile wallet for Android and iOS? If not, is there a roadmap? A: There Android wallet is out of beta and on the Google PlayStore: iOS wallet is planned for development. The roadmap can be found here: https://colossusxt.io/roadmap/ Q: Is ColossusXT planning on partnering up with other cryptocurrency projects? Such as: Bread and EQUAL. A: ColossusXT plans on partnering with other crypto projects that make sense. We look for projects that can help alleviate some of our development work / provide quality of life upgrades to our investors so that we can focus on Colossus Grid development. When absolutely love it when the community comes to us with great projects to explore. Q: Did you ever considered a coinburn? Don't you think a coin burn will increase COLX price and sustain mass adoption? Do you plan on keeping the price of COLX in a range so the potential big investors can invest in a not so much volatile project? A**:** There are no plans to do a coinburn at this time. Please check out our section in the whitepaper about the supply. Q: what is the next big exchange for colx to be listed ? A: There are several exchanges that will be listing ColossusXT soon. Stay tuned for updates within the community as some have already been announced and future announcements.
Q: How will Colx compete with other privacy coins which claim to be better like Privacy? A: ColossusXT is not competing with other privacy coins. ColossusXT will evolve into the Colossus Grid, which is built on the backbone of a privacy blockchain. In our vision, all these other privacy coins are competing for relevancy with ColossusXT. There are also similar responses to question that may hit on specifics. Q: Does COLX have a finite number of coins like bitcoin? A: No, ColossusXT is Proof of Stake. https://en.wikipedia.org/wiki/Proof-of-stake Q: What are the advantages of COLX over other competitor coins (eg. ECA)? A: The only similarities between ColossusXT and Electra is that we are both privacy blockchains. ColossusXT is very much an entirely different project that any other privacy coin in the blockchain world today. The Colossus Grid will be a huge advantage over any other privacy coin. Offering the ability for a desktop machine to rent power from others contributing to the Colossus Grid and perform and compute high level tasks. Q: How do you feel about some countries frowning upon privacy coins and how do you plan to change their minds (and what do you plan to do about it?) A: The ColossusXT team tries to view opinions from multiple perspectives so that we can understand each line of thinking. As blockchain technology becomes more widely adopted, so will the understanding of the importance of the privacy features within ColossusXT. Privacy is freedom. Q: How do you see COLX in disrupting cloud gaming services such as PlayStation Now? A: Cloud gaming services have not been discussed. Initial marketing of our private grid computing framework will be targeted at homes users, governments, and cyber security firms who may require more discretion / anonymity in their work. Q: Since colx is a privacy coin and is known for its privacy in the transactions due to which lot of money laundering and scams could take place, would colx and its community be affected due to it? And if does then how could we try to prevent it? A: ColossusXT intends to be known for the Colossus Grid. The Colossus Grid development will be moved up from Q1 2019 to Q3 2018 to reflect this message and prevent further miscommunication about what privacy means for the future of ColossusXT. Previous answers within this AMA may further elaborate on this question. Q: When do you plan to list your coin on other "bigger" exchanges? A: ColossusXT is speaking with many different exchanges. These things have many different factors. Exchanges decide on listing dates and we expect to see ColossusXT listed on larger exchanges as we approach the Colossus Grid Beta. The governance system can further assist in funding. Q: What was the rationale behind naming your coin ColossusXT? A:Colossus was a set of computers developed by British codebreakers in the years 1943–1945. XT symbolises ‘extended’ as the coin was forked from the original Cv2 coin. Q: Can you give any details about the E Commerce Marketplace, and its progress? A: The Ecommerce Marketplace is a project that will receive attention after our development pass on important privacy features for the grid. In general, our roadmap will be changing to put an emphasis on grid development. Q: How will someone access the grid, and how will you monetize using the grid? Will there be an interface that charges COLX for time on the grid or data usage? A: The Colossus Grid will be integrated within the ColossusXT wallet. Buying & Selling resources will happen within the wallet interface. You won't be able to charge for "time" on the grid, and have access to unlimited resources. The goal is to have users input what resources they need, and the price they are willing to pay. The Colossus Grid will then look for people selling resources at a value the buyer is willing to pay. Time may come into play based on which resources you are specifically asking for. Q: Are there any plans to launch an official YouTube channel with instructional videos about basic use of the wallets and features of COLX? Most people are visually set and learn much faster about wallets when actually seeing it happen before they try themselves. This might attract people to ColossusXT and also teach people about basic use of blockchain and cryptocurrency wallets. I ask this because I see a lot of users on Discord and Telegram that are still learning and are asking a lot of real basic questions. A: ColossusXT has an official YT account with instructional videos: https://www.youtube.com/channel/UCCmMLUSK4YoxKvrLoKJnzng Q: What are the usp's of colx in comparing to other privacy coins? A: Privacy coins are a dime a dozen. ColossusXT has different end goals than most privacy coins, and this cannot be stated enough. Our goal is not just to be another currency, but to build a sophisticated computing resource sharing architecture on top of the privacy blockchain. Q: A new exchange will probably gain more liquidity for our coin. If you might choose 3 exchanges to get COLX listed, what would be your top 3? A: ColossusXT intends to be listed on all major exchanges globally. :) Q: What is the future of privacy coins? What will be the future colx userbase (beyond the first adopters and enthusiasts)? A: The future of privacy is the same it has always been. Privacy is something each and everyone person owns, until they give it away to someone else. Who is in control of your privacy? You or another person or entity?The future of the ColossusXT user base will comprise of early adopters, enthusiast, computer science professionals, artificial intelligence, and computational linguistics professionals for which these users can utilize the Colossus Grid a wide range of needs. Q: Will ColossusXT join more exchanges soon?? A: Yes. :) Q: So when will Colossus put out lots of advertisement to the various social media sites to get better known? Like Youtube videos etc. A: As we get closer to a product launch of the Colossus Grid, you’ll begin to see more advertisements, YouTubers, and interviews. We’re looking to also provide some presentations at blockchain conferences in 2018, and 2019. Q: In your opinion, what are some of the issues holding COLX back from wider adoption? In that vein, what are some of the steps the team is considering to help address those issues? A: One of the main issues that is holding ColossusXT back from a wider adoption is our endgame is very different from other privacy coins. The Colossus Grid. In order to address this issue, the ColossusXT team intends to have a Colossus Grid Beta out by the end of Q4 and we will move development of the Colossus Grid from Q1 2019 to Q3 2018. Q: Or to see it from another perspective - what are some of the biggest issues with crypto-currency and how does COLX address those issues? A: Biggest issue is that cryptocurrency is seen as a means to make quick money, what project is going to get the biggest “pump” of the week, and there is not enough focus on building blockchain technologies that solve problems or creating legitimate business use cases. For the most part we believe the base of ColossusXT supporters see our end-game, and are willing to provide us with the time and support to complete our vision. The ColossusXT team keeps its head down and keeps pushing forward. Q: I know it's still early in the development phase but can you give a little insight into what to look forward to regarding In-wallet voting and proposals system for the community? How much power will the community have regarding the direction COLX development takes in the future? A: The budget and proposal system is detailed in the whitepaper. Masternode owners vote on and guide the development of ColossusXT by voting on proposals put forth by the community and business partners. Our goal is to make this process as easy and accessible as possible to our community. Q: Will there be an article explaining the significance of each partnership formed thus far? A: Yes, the ColossusXT team will announce partners on social media, and community outlets. A detailed article of what partnerships mean will be available on our Medium page: https://medium.com/@colossusxt Q: What potential output from the Grid is expected and what would it's use be? For example, x teraflops which could process y solutions to protein folding in z time. A: There are many uses for grid computing. A crypto enthusiast mining crypto, a cyber security professional cracking a password using brute force, or a scientist producing climate prediction models. The resources available to put towards grid projects will be determined by the number of nodes sharing resources, and the amount of resources an individual is willing to purchase with COLX. All individuals will not have access to infinite grid resources. Q: Is there a paper wallet available? A: Yes, see https://mycolxwallet.org Q: Is there a possibility of implementing quantum computer measures in the future? A: This is a great idea for potentially another project in the future. Currently this is not possible with the Colossus Grid. Instead of bits, which conventional computers use, a quantum computer uses quantum bits—known as qubits. In classical computing, a bit is a single piece of information that can exist in two states – 1 or 0. Quantum computing uses quantum bits, or 'qubits' instead. These are quantum systems with two states. However, unlike a usual bit, they can store much more information than just 1 or 0, because they can exist in any superposition of these values. Q: Do you plan to do a coin burn? A: No future coin burns are planned. Anything like this would go through a governance proposal and Masternode owners would vote on this. This is not anything we’ve seen within the community being discussed. Q: Can I check the exact number of current COLX master node and COLX staking node? A: Yes. You can view the Masternodes and the amount of ColossusXT (COLX) being staked by viewing the block explorer. Block explorer: https://chainz.cryptoid.info/colx/#!extraction Q: What incentive could we give a youtuber to do the BEST video of ColossusXT (COLX)? A: We've been approached by several YouTubers. The best thing a YouTuber can do is understand what ColossusXT is, join the community, ask questions if there is something they don't understand. The problem with many YouTubers is that some of them are just trying to get paid, they don't really care to provide context or research a project. Disclaimer: This is not all YouTubers, but many. Q: In which ways is the ColossusGrid different from other supercomputer / distributed computing projects out there. Golem comes to mind. Thanks! A: The main difference is that we are focused on the end users privacy, and the types of users that we will be targeting will be those that need more discretion / anonymity in their work. We are building framework that will continue to push the boundaries of user privacy as it relates to grid computing. Q: Can we please complete our roadmap ahead of schedule? I find most other coins that do this actually excell in terms of price and community members. Keep on top of the game :) A: The Colossus XT roadmap is a very fluid document, and it is always evolving. Some items are moved up in priority, and others are moved back. The roadmap should not be thought of something that is set in stone. Q: Does COLX have master nodes? A: Yes. ColossusXT has masternodes. Q: Have thought about providing a method to insert a form of payment in colx in any page that wants to use cryptocurrencies in a fast and simple way in order to masive adoption???? A: There is already this option.https://mycryptocheckout.com/coins/ Q: What do you think your community progress till now? A: The community has grown greatly in the last 3 months. We’re very excited to go from 13 to 100 questions in our quarterly AMA. Discord, Telegram, and Twitter are growing everyday. Q: I noticed on Roadmap: Coinomi and ahapeshift wallet integration. Can you tell me more about this? I am new in crypto and new ColX investor so I don't know much about this. Thanks and keep a good work. A: Coinomi is a universal wallet. ColossusXT will have multiple wallet platforms available to it. Shapeshift allows you to switch one crypto directly for another without the use of a coupler (BTC). Q: Is "A general-purpose decentralized marketplace" written in the whitepaper the same as "E-COMMERCE MARKETPLACE" written on the roadmap? Please tell me about "A general-purpose decentralized marketplace" or "E-COMMERCE MARKETPLACE" in detail. A: Details will be posted as we get closer to the marketplace. It will be similar to other marketplaces within blockchain. Stay tuned for more information by following us on Twitter. Q: History has shown that feature-based technologies always get replaced by technologies with platforms that incorporate those features; what is colossius big picture? A: The Colossus Grid. Which has been explained within this AMA in a few different ways. Q: What are the main objectives for COLX team this year? Provide me 5 reason why COLX will survive in a long term perspective? Do you consider masternodes working in a private easy to setup wallet on a DEX network? Already big fan, have a nice day! A: Getting into Q3 our main object is to get a working product of the Colossus Grid by the end of Q4.
Community - Our community is growing everyday as knowledge about what we’re building grows. When the Colossus Grid is online we expect expansion to grow at a rapid pace as users connect to share resources.
Team - The ColossusXT team will continue to grow. We are stewards of a great community and an amazing project. Providing a level of support currently unseen in many other projects through Discord. The team cohesion and activity within the community is a standard we intend to set within the blockchain communities.
Features - ColossusXT and The Colossus Grid will have user friendly AI. We understand the difficulties when users first enter blockchain products. The confusion between keys, sending/receiving addresses, and understanding available features within. Guides will always be published for Windows/Mac/Linux with updates so that these features can be easily understood.
Colossus Grid - The Colossus Grid answers real world problems, and provides multiple solutions while also reducing energy consumption.
Use Case - Many of the 1000+ other coins on the market don’t have the current use-case that ColossusXT has, let alone the expansion of utility use-cases in multiple sectors.
Bitcoin Mixers Play a Vital Role in Keeping Bitcoin 100% Anonymous
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NEO & BEE: THE FULL PICTURE This is a reconstruction of the events that took place from the 17th of March up to the 18th of April 2014, surrounding the collapse of Neo & Bee (N&B). Within one month N&B, initially believed by many to be a promising bitcoin start up, vanished from the surface of the earth with its CEO still being on the hide with an arrest warrant issued for him for serious criminal charges. The timeline is derived from press reports, N&B announcements, Cypriotic police announcements, posts of Danny Brewster on Reddit and Bitcointalk, the post of N&B management team on Reddit and the subsequent AMA session, tweets by Brewster, tweets and posts on Reddit by Tuur Demeester and Andreas Antonopoulos, and other publicly available sources. September 2013 - February 2014: Brewster raises, through an IPVO in 3 exchanges, approximately 9,400 BTC for LMB Holdings, a UK “virtual entity”. September 2013 - March 2014: Brewster spends around 4,400 BTC in setting up N&B in Cyprus amidst one of the most aggressive marketing campaigns ever launched by a bitcoin company, with the motto "Who is Neo?”. On the 24th of February 2014 N&B opens its first branch in Nicosia Cyprus amidst a lot of enthusiasm, with the share price at Havelock almost doubling the IPVO price. 17th March: 6 months have passed since the publication of the original LMB Prospectus (September 2013) and even though investors were promised quarterly financial statements (copy from prospectus: “Quarterly financial statements will be published across all supported platforms where LMB Holdings shares are available to be purchased”), the company has not published a single financial statement. Investors that inquire about this in Reddit and Bitcointalk as early as December 2013, are always reassured by Brewster (“Cryptocyprus”) that the financial information “will be out very soon”. On March 17th, Brewster tweets that all financial information, projections and appendices "will be released later this week". 18th March: Brewster publishes an Updated LMB Prospectus of LMB (v.2.0) against the advice of his management team because, according to a later statement of them, "a lot of content was incorrect". To the surprise of many, the Updated Prospectus does NOT include any historic financial statements for the first 6 months of operations, nor any financial information or projections. Actually it does not include any “accounting or finance items” whatsoever. In spite of the absence of any finance and accounting numbers, on the same day, Tuur Demeester tweets: “The Neo & Bee prospectus is teaching us about the future of finance, so important reading!”. Apart from the "incorrect content", the prospectus includes misrepresentations such as the presentation of PricewaterhouseCoopers as the auditors of the company – copy from Prospectus: “We are also subjecting ourselves to external auditors for added transparency, we are working with Price Waterhouse Coopers (PwC)”. The Prospectus refers to an “advisory board” whose only member is Antonopoulos. The sole member of the Board of Directors is Danny Brewster as no other board members are revealed. 18th March: Brewster tells a member of the management team "we have 5,000 BTC left". As from March 18th, Brewster, an active user of social media with daily presence for months, goes completely silent and absent from Reddit, Bitcointalk, Facebook and Twitter. 19th March: The next day Brewster shocks the management team by telling them that the 5,000 BTC have…..overnight become only 140! "Actually I thought we had 5,000, but I have checked the wallet and the coins are not there, I spent them somewhere but I don't remember on what.......we have only 140 coins left. I am going to the UK to find investors. I will send you the 140 coins left and also sell my Mercedes and Bentley and will send you the money to pay the March salaries and the creditors". 20th March: Brewster goes to N&B offices for 1 hour. Management team tells Brewster that they want him to step down from CEO. Brewster agrees to step down after transferring control of the company to “investors”, without these investors being identified. 21st March: Brewster goes to N&B offices for 1 hour and then disappears and remains out of contact with anybody from the management team. 21st - 27th March: The Mercedes is reported sold but the funds from the sale and the 140 N&B coins "travel" together with Brewster to the UK, instead of being sent to the management to cover salaries and creditors as promised. The Bentley is reported to be in a car dealership in Nicosia with changed plates, it is unknown whether it has been sold as well with proceeds being taken by Brewster, or whether it is up for sale. Rumors start spreading on Reddit and Bitcointalk that N&B collapsed and that Brewster ran away with the investors’ coins, leaving behind unpaid employees and around €1M unpaid creditors. Many members of the bitcoin community, investors etc., reach out to Brewster on social media asking for clarifications. Brewster is nowhere to be found. Members of the community post on Reddit and Bitcointalk and tweet Demeester, Antonopoulos and N&B asking what the hell is going on. None of them has a clue and no official announcement is made. Some persons visit the branch and find it closed. Other persons call the company and the reply is “leave your details and we will call you back”. 27th March: With Brewster into the hide the management notes "abnormal trading" on the shares of the company on Havelock and the N&B Compliance Officer sends recommendation to Havelock to stop trading of the shares. 28th March: TAT (ThickAsThieves) terminates his contract as pass-through manager for NeoBee shares on Havelock. Havelock suspends trading of NeoBee shares. Brewster finally makes a contact with the management and says he received a threat for his daughter on the 26th. However, he cannot explain why he disappeared from all social media since the 18th and from the company since the 21st (!). Also strange is the fact that although he claims that the “threat” was for his daughter, he decides that the best course of action is to leave her in Cyprus and him to go into the hide in the UK (!). Brewster says the threats "have been reported to the relevant authorities". 29th March: Management team contacts Cypriotic Police asking about the threats against Brewster. Police says this is the first time they heard about it and no reporting of any threats has been made. 31st March: With Brewster into the hide, the management sends him a demand letter requesting he returns and give explanations regarding his absence in the face of dire problems with the company 2nd April: Brewster posts on Bitcointalk saying staff might be responsible for the threats and that's why he is out of contact with them. A new shocking assertion comes to light. Even though Brewster publicly and proudly claimed in the last weeks that he did not lose any coins on Mt.Cox as "the signs were there", in his post on Reddit he now claims that he lost coins on Mt.Cox. He also claims that "all bitcoins (raised in the IPVO) are accounted for". Furthermore, he claims that he doesn’t hold any funds/bitcoins that belong to customers: He writes: "I would like to reiterate that ZERO customer funds are under my control" (“capital letters” in ZERO being his emphasis) 4th April Trading of NeoBee shares on Havelock restarts without an explanation whether this was done by Havelock deciding on their own or under instructions from Brewster. 2nd - 15th April: Brewster’s disappearance continues, all employees resign, the offices and the branch close down, and the N&B brand becomes a joke in Cyprus with the media making derisive and derogatory comments "Where is Neo?" (paraphrasing the motto of the marketing campaign "Who is Neo?"). Brewster remains on the hide until news break out that an arrest warrant has been issued by the Cypriotic Police. Police says that Brewster is wanted for criminal charges including theft, forgery, counterfeiting and money laundering and for taking customers' and employees' coins and running away 15th April: Brewster posts for the second time on Reddit saying that although there is an arrest warrant for serious criminal charges he doesn't plan to return to Cyprus soon because he has to...attend a funeral in the UK (!), and that he can clear out all criminal charges whilst being in the UK. Also, in his post on Reddit, he instructs the Cypriotic Police to...pick up their phones and ....open their emails because he calls and emails them for days, and nobody cares to answer him (!). He also hints that “The manner in which the investigations are being carried out are concerning”, implying that the police might have set him up. He admits publicly that even though a threat was made against his daughter, he actually left her in Cyprus and he went into hiding in the UK. Even though on his posting on Bitcointalk on 2 April he reiterated that “ZERO customer funds are under my control", he now admits that he does, in fact, hold the coins of several customers and instructs the customers via the posting on Reddit “to provide me with their addresses so I can arrange for the bitcoins to be sent to them”. In this post a new shocking assertion is now made by Brewster, as he now presents a new excuse for the "lost coins". He now claims that he had sold all company coins that were at his disposal on the date Silk Road was busted (2 October 2013) at low prices and that's why he is now insolvent! 16th April: Official Spokesman of Cypriotic Police says the investigations against Brewster are "in an advanced stage" and does not rule out the issuance of a European or even an International arrest warrant. 18th April: Ex-senior N&B management team posts a detailed statement on Reddit saying "it is appropriate and justified to make the following statement regarding the mistruths and outright lies being fed by Brewster to investors, creditors and the public". Team says that there was never any accountability by Brewster about the money raised in the IPVO, in spite of repeated attempts by CFO and Compliance Officer to extract information from him. Even though Brewster claimed that "every coin can be accounted for", the CFO and the management team say that several thousands of coins "cannot be accounted for". CFO hasn't got a clue about what happened and around 5,000 coins are missing. Brewster said he had them on the 18th but “were lost” on the 19th of March. Later he claimed that they were all sold on 2 October 2013. Management also reveals that there have never been any financial reports or financial statements that were promised on several occasions by Brewster to the investors (in the original prospectus, in the updated prospectus and in social media). Management also reveals that in the prospectus issued on March 18th by Brewster against their advice, "a lot of content was incorrect" and included misrepresentations such as presenting PricewaterhouseCoopers as the auditors of the company. Management also reveals that Brewster took away with him customers' as well as employees' coins, even though Brewster claimed that "ZERO customer funds are under my control". Tuur Demeester posts on Reddit admitting that “things have taken a dramatic turn for investors and employees with N&B. The gist of it is that CEO Danny Brewster has disappeared, and with him apparently thousands of bitcoins from investors”. Andreas Antonopoulos posts on Reddit stating that “I was as surprised and bewildered by these events…dismayed that another bitcoin company had imploded amidst allegations of fraud and leaving many investors, creditors and employees with serious losses…all of whom betrayed by Danny”. N&B has collapsed, with thousands of coins missing and unaccounted for. It is revealed that after 6-7 months of operations the company didn’t manage to come up with any product, had zero revenue, and never produced any type of financial statements. The CEO is still in the hide and wanted by the Cypriotic Police.
A SIMPLE GUIDE TO MIXING BITCOINS AND MAKING THEM UNTRACEABLE
A SIMPLE GUIDE TO SAFELY AND EFFECTIVELY TUMBLING (MIXING) BITCOINS
THE CYPHERNOMICON: Monero Edition (heavily abridged and annotated by AmericanPegasus)
As you may know, I didn't exactly roll a natural 18 under the Arithmatic stat: https://np.reddit.com/Bitcoin/comments/3fgrk5/how_long_would_we_have_to_use_bitcoin_before_we/ctomj9y However, I have other talents, very analog ones. Among my tomb-raiding today, I found an old link to a massive document about cryptography created in 1994. This was a time when the brightest minds on the planet trying to figure out how to implement cryptography into every day life. It was also the year before the infamous "Violence @ NBC" video where the hilarious inept Today Show hosts didn't even understand an email address - much less the greater internet (https://youtu.be/95-yZ-31j9A). So these were the Internet Middle Ages; bronze and steel had been invented, but we were still learning how to shape it into useful things. Now imagine my shock to find an incredible amount of prophecy written in this document about not just the eventual emergence of Bitcoin, but also Monero as well. Along with some other zany Nostradamous-level call outs, there are the occasional claims that "digital coins may be impossible" which we can only look back 20 years and smile on, knowing that the future solves all problems. In fact, I hope the author of this document is still around today: perhaps his 1994 self would be both horrified and relieved to know that true digital cashiseventually invented; it just takes two decades for it to happen. I'm only going to cover a few highly relevant sections here. Currently this entire piece of history is available in full over on https://cpunks.wordpress.com/cypherpunks-faq/
The Heavily-Abridged Cyphernomicon:
5.4.4 + Digital Cash - focus: privacy in transactions, purchases - unlinkable credentials - blinded notes - "digital coins" may not be possible 5.5.9 + can a "digital coin" be made? - this is formally similar to the idea of an active agent that is unforgeable, in the sense that the agent or coin is "standalone" + bits can always be duplicated (unless tied to hardware, as with TRMs), so must look elsewhere + could tie the bits to a specific location, so that duplication would be obvious or useless - the idea is vaguely that an agent could be placed in some location...duplications would be both detectable and irrelevant (same bits, same behavior, unmodifiable because of digital signature)
This fills me with happiness that back then we were wondering if the idea of a digital coin were even possible... and yet here we are. We did it... humanity achieved the impossible.
10.8.5. "Why might digital cash and related techologies take hold early in illegal markets? That is, will the Mob be an early adopter?" - untraceability needed - and reputations matter to them - they've shown in the past that they will try new approaches, a la the money movements of the drug cartels, novel methods for security, etc.
Basically exactly what happened. As with all new technology, the criminals quickly latched onto it.
10.8.6. "Electronic cash...will it have to comply with laws, and how?" - Concerns will be raised about the anonymity aspects, the usefulness for evading taxes and reporting requirements, etc. - a messy issue, sure to be debated and legislated about for many years + split the cash into many pieces...is this "structuring"? is it legal? - some rules indicate the structuring per se is not illegal, only tax evasion or currency control evasion - what then of systems which _automatically_, as a basic feature, split the cash up into multiple pieces and move them?
We know the answer now. The key to anonymity is to mix the coins together automatically on a protocol level, "splitting" the amounts up. The secret to creating the first true digital coin was to stop thinking of them as 'coins' at all: if a bit can be copied freely, then don't resist that - embrace it to the maximal limit. If everyone has a copy, then no one has a copy
10.8.7. Currency controls, flight capital regulations, boycotts, asset seizures, etc. - all are pressures to find alternate ways for capital to flow - all add to the lack of confidence, which, paradoxically to lawmakers, makes capital flight all the more likely 10.8.8. "Will banking regulators allow digital cash?" - Not easily, that's for sure. The maze of regulations, restrictions, tax laws, and legal rulings is daunting. Eric Hughes spent a lot of time reading up on the laws regarding banks, commercial paper, taxes, etc., and concluded much the same. I'm not saying it's impossible--indeed, I believe it will someday happen, in some form--but the obstacles are formidable. + Some issues: + Will such an operation be allowed to be centered or based in the U.S.? - What states? What laws? Bank vs. Savings and Loan vs. Credit Union vs. Securities Broker vs. something else? + Will customers be able to access such entities offshore, outside the U.S.? - strong crypto makes communication possible, but it may be difficult, not part of the business fabric, etc. (and hence not so useful--if one has to send PGP- encrypted instructions to one's banker, and can't use the clearing infrastructure....) + Tax collection, money-laundering laws, disclosure laws, "know your customer" laws....all are areas where a "digital bank" could be shut down forthwith. Any bank not filling out the proper forms (including mandatory reporting of transactions of certain amounts and types, and the Social Security/Taxpayer Number of customers) faces huge fines, penalties, and regulatory sanctions. - and the existing players in the banking and securities business will not sit idly by while newcomers enter their market; they will seek to force newcomers to jump through the same hoops they had to (studies indicate large corporations actually _like_ red tape, as it helps them relative to smaller companies)
Basically describes NY's BitLicense and other nonsense to a tee. Yes, in order to make crypto "play nice" with the relics of the past there is a shit ton of regulation to wade through first.
- Concluson: Digital banks will not be "launched" without a *lot* of work by lawyers, accountants, tax experts, lobbyists, etc. "Lemonade stand digital banks" (TM) will not survive for long. Kids, don't try this at home!
Blink and you'll miss it. This hombre just issued a warning to Mark Karples and Mt. Gox a decade and a half before it even existed!!!
- (Many new industries we are familiar with--software, microcomputers--had very little regulation, rightly so. But the effect is that many of us are unprepared to understand the massive amount of red tape which businesses in other areas, notably banking, face.) 10.8.9. Legal obstacles to digital money. If governments don't want anonymous cash, they can make things tough. + As both Perry Metzger and Eric Hughes have said many times, regulations can make life very difficult. Compliance with laws is a major cost of doing business. - ~"The cost of compliance in a typical USA bank is 14% of operating costs."~ [Eric Hughes, citing an "American Banker" article, 1994-08-30] + The maze of regulations is navigable by larger institutions, with staffs of lawyers, accountants, tax specialists, etc., but is essentially beyond the capabilities of very small institutions, at least in the U.S. - this may or may not remain the case, as computers proliferate. A "bank-in-a-box" program might help. My suspicion is that a certain size of staff is needed just to handle the face-to-face meetings and hoop-jumping.
As is discussed later, too much regulation early on can be absolutely fatal. We are almost past that danger zone though (bitcoin is well past it), and I think once the under-the-hood work is complete and the GUI is out next year we will finally move past that precipice.
+ "New World Order" - U.S. urging other countries to "play ball" on banking secrecy, on tax evasion extradition, on immigration, etc. - this is closing off the former loopholes and escape hatches that allowed people to escape repressive taxation...the implications for digital money banks are unclear, but worrisome.
This is the safety blanket for those who are afraid of the United States losing its dominance in an eventual crypto dominated world. If one world government is inevitable, far better to usher in its creation and own a major slice of it rather than resist it and find ourselves as the new North Korea. This way we can control who participates vs. being spectators. For example, the internet was always going to exist; it was only a question of who created it first.
10.9. Legality of Digital Banks and Digital Cash? 10.9.1. In terms of banking laws, cash reporting regulations, money laundering statutes, and the welter of laws connected with financial transactions of all sorts, the Cypherpunks themes and ideas are basically _illegal_. Illegal in the sense that anyone trying to set up his own bank, or alternative currency system, or the like would be shut down quickly. As an informal, unnoticed _experiment_, such things are reasonably safe...until they get noticed. 10.9.2. The operative word here is "launch," in my opinion. The "launch" of the BankAmericard (now VISA) in the 1960s was not done lightly or casually...it required armies of lawyers, accountants, and other bureacrats to make the launch both legal and successful. The mere 'idea" of a credit card was not enough...that was essentially the easiest part of it all. (Anyone contemplating the launch of a digital cash system would do well to study BankAmericard as an example...and several other examples also.) 10.9.3. The same will be true of any digital cash or similar system which intends to operate more or less openly, to interface with existing financial institutions, and which is not explicity intended to be a Cypherpunkish underground activity.
This perfectly encapsulates the themes of the successful cryptocurrencies that we have seen. Start small, and slowly build. Don't draw too much attention to yourself too quickly, and for fuck's sake keep a low profile. Once things seem to be going well, take a small risk to grow. Keep taking these risks and look for key opportune moments to strike at rivals and decimate them completely, absorbing their.... hey, wait. Are we talking about cryptocurrency or a successful agar.io strategy? ;) :D The universe is full of so many delicious coincidences.
12.3.8. "Can a "digital coin" be made?" - The answer appears to be "no" + Software is infinitely copyable, which means a software representation of digital money could be replicated many times - this is not to say it could be _spent_ many times, depending on the clearing process...but then this is not a "coin" in the sense we mean - Software is trivially replicable, unlike gold or silver coins, or even paper currency. If and when paper currency becomes trivially replicable (and color copiers have almost gotten there), expect changes in the nature of cash. (Speculation: cash will be replaced by smart cards, probably not of the anonymous sort we favor.) + bits can always be duplicated (unless tied to hardware, as with TRMs), so must look elsewhere + could tie the bits to a specific location, so that duplication would be obvious or useless - the idea is vaguely that an agent could be placed in some location...duplications would be both detectable and irrelevant (same bits, same behavior, unmodifiable because of digital signature) - (this is formally similar to the idea of an active agent that is unforgeable, in the sense that the agent or coin is "standalone")
Again, the answer was always to stop thinking about it as a coin and think about it as a ledger. When forces in life challenge you and your desires, it is far better to properly direct their energies vs. struggling against them. You will find that many eastern philosophers discovered this tennant long ago and used it to great success for thousands of years. When the nature of digital information resists being made precious - do the exact opposite: make a successful digital cash system with the information as ubiquitous. When AmericanPegasus won't shut the fuck up about whatever-he's-posting today, don't continue to fight a losing battle: at least direct his efforts towards something worthwhile. :)
12.3.9. "What is the 'granularity' of digital cash?" + fine granularity, e.g., sub-cent amounts - useful for many online transactions - inside computers - add-on fees by interemediaries - very small purchases + medium granularity - a few cents, up to a dollar (for example) - also useful for many small purchases - close equivalent to "loose change" or small bills, and probably useful for the same purposes - tolls, fees, etc. - This is roughly the level many DigiCash protocols are aimed at + large granularity - multiple dollars - more like a "conventional" online transaction - the transaction costs are crucial; online vs. offline clearing - Digital Silk Road is a proposal by Dean Tribble and Norm Hardy to reduce transaction costs
Nigga what. It wasn't mentioned in the vein of an online illegal market place, but this is still the earliest mention of a 'Silk Road' that I can find on the internet in relation to digital currency.
12.7.2. "What are some motivations for anonymous digital cash?" + Payments that are unlinkable to identity, especially for things like highway tolls, bridge tolls, etc. - where linkablity would imply position tracking - (Why not use coins? This idea is for "smart card"-type payment systems, involving wireless communication. Singapore planned (and perhaps has implemented) such a system, except there were no privacy considerations.) + Pay for things while using pseudonyms - no point in having a pseudonym if the payment system reveals one's identity + Tax avoidance - this is the one the digicash proponents don't like to talk about too loudly, but it's obviously a time-honored concern of all taxpayers + Because there is no compelling reason why money should be linked to personal identity - a general point, subsuming others
We can see resistance to Bitcoin's pseudo-anonymous "solutions" even now. As I always have said, Bitcoin was the first true digital decentralized collectible but it was not true e-cash. Privacy and fungibility go hand in hand.
12.8.4. Nick Szabo: - "Internet commercialization in itself is a _huge_ issue full of pitfall and opportunity: Mom & Pop BBS's, commercial MUDs, data banks, for-profit pirate and porn boards, etc. are springing up everywhere like weeds, opening a vast array of both needs of privacy and ways to abuse privacy. Remailers, digital cash, etc. won't become part of this Internet commerce way of life unless they are deployed soon, theoretical flaws and all, instead of waiting until The Perfect System comes along. Crypto- anarchy in the real world will be messy, "nature red in tooth and claw", not all nice and clean like it says in the math books. Most of thedebugging will be done not in any ivory tower, but by the bankruptcy of businesses who violate their customer's privacy, the confiscation of BBS operators who stray outside the laws of some jurisdication and screw up their privacy arrangements, etc. Anybody who thinks they can flesh out a protocol in secret and then deploy it, full-blown and working, is in for a world of hurt. For those who get their Pretty Good systems out there and used, there is vast potential for business growth -- think of the $trillions confiscated every year by governments around the world, for example." [Nick Szabo, 1993-8-23]
15.8.2. Absent laws which ban strong crypto (and such laws are themselves nearly unenforceable), it will be essentially impossible to stop anonymous transactions and purely reputation-based systems. - For example, Pr0duct Cypher and Sue D. Nym will be able to use private channels of their own choosing (possibly using anonymous pools, etc.) to communicate and arrange deals. If some form of digital cash exists, they will even be able to transfer this cash. (If not, barter of informations, whatever.) - So, the issues raised by Hal Finney and others, expressing doubts about the adequacy of reputation capital as a building block (and good concerns they are, by the way), become moot. Society cannot stop willing participants from using reputation and anonymity. This is a major theme of crypto anarchy: the bypassing of convention by willing participants. + If Alice and Bob don't care that their physical identies are unknown to each other, why should we care? That is, why should society step in and try to ban this arrangement? - they won't be using "our" court systems, so that's not an issue (and longer term, PPLs will take the place of courts, many of us feel) - only if Alice and Bob are counting on society, on third parties to the transaction, to do certain things, can society make a claim to be involved - (A main reason to try to ban anonymity will be to stop "bad" activities, which is a separate issue; banning of "bad" activity is usually pointless, and leads to repressive states. But I digress.) 15.8.3. Part of the "phase change": people opt out of the permission- slip society via strong crypto, making their own decisions on who to trust, who to deal with, who to make financial arrangements with + example: credit rating agencies that are not traceable, not prosecutable in any court...people deal with them only if they think they are getting value for their money - no silly rules that credit rating data can "only" go back some arbitrary number of years (7, in U.S.)...no silly rules about how certain bankruptcies "can't" be considered, how one's record is to be "cleared" if conditions are met, etc. - rather, all data are considered....customer decides how to weight the data...(if a customer is too persnickety about past lapsed bills, or a bad debt many years in the past, he'll find himself never lending any money, so the "invisible hand" of the free market will tend to correct such overzealousnesses)
Got to get that Hal Finney SHOUT OUT. While NWA was in Detroit causing fans to rush the stage, Hal Finney was straight outta Coalinga changing the world in other ways. Also, in this section pay attention to the text, it's important because it gives us insight into what's next, in the 2020's after the rise of digital money, Cryptography based reputation systems are gonna, rise up, like this bottle of Berry Ciroc, left from the Halloween videos so let's wrap it up.
16.16.3. Doug Cutrell summarized the concerns of many when he wrote: - "...the availability of truly secure anonymity, strong encryption, and untraceable digital cash could allow contract killing to be an openly conducted business. For example, an anonymous news post announces a public key which is to be used to encode a contract kill order, along with a digital cash payment. The person placing the contract need only anonymously place the encrypted message in alt.test. Perhaps it is even possible to make it impossible to tell that the message was encrypted with the contract killer's public key (the killer would have to attempt decryption of all similarly encoded messages on alt.test, but that might be quite feasible). Thus it could be completely risk free for anyone to place a contract on anyone else." [Doug Cutrell, 1994-09-09] 16.16.4. Abhorrent markets - contract killings - can collect money anonymously to have someone whacked...nearly anyone who is controversial can generate enough "contributions" - kidnapping, extortion 16.16.5. Dealing with Such Things: + never link physical ID with pseudonyms! (they won't kill you if they don't know who you are) - and even if one pseudonym is linked, make sure your financial records are not linkable - trust no one - increased physical security...make the effort of killing much more potentially dangerous - flooding attacks..tell extortionists to "get in line" behind all the other extortionists + announce to world that one does not pay extortionists...set up protocol to ensure this - yes, some will die as a result of this - console yourself with the fact that though some may die, fewer are dying as a result of state-sponsored wars and terrorism (historically a bigger killer than contract killings!)
.....or not. In the scariest part of this entire article we find the truly horrifying ramifications of what anonymous communications and anonymous currency will do. Don't resist it, because it will happen whether we want it to or not. So what to do? Prepare for it and anticipate. Law enforcement should be ready to catch an entirely new class of criminal in the future, and we should all be prepared to protect ourselves (especially non-anon dumbasses like me - but I'll tell y'all what, I don't/won't negotiate with bad guys because it only encourages them, and as soon as this shit gets 'real' imma hire some 'real' security)
16.29.3. "What is the "crypto phase change"?" - I'm normally skeptical of claims that a "singularity" is coming (nanotechnology being the usual place this is claimed, a la Vinge), but "phase changes" are more plausible. The effect of cheap printing was one such phase change, altering the connectivity of society and the dispersion of knowledge in a way that can best be described as a phase change. The effects of strong crypto, and the related ideas of digital cash, anonymous markets, etc., are likely to be similar. - transition - tipping factors, disgust by populace, runaway taxation + "leverage effect" - what Kelly called "the fax effect" - crypto use spreads, made more popular by common use - can nucleate in a small group...doesn't need mass acceptance 16.29.4. "Can crypto anarchy be stopped?" + A goal is to get crypto widely enough deployed that it cannot then be stopped - to the point of no return, where the cost of withdrawing or banning a technology is simply too high (not always a guaranteee)
Yes, a phase change is coming. In it, we are going to see borders reduced and a 'world currency' standard established. It's going to be absolutely epic.... in both good and bad ways. Some will opt out, but those will quickly find themselves stuck in the stone age as more and more of the first world opts-in. Eventually, nations that try to wall themselves off from the coming phase shift will end up as the next North Korea's.... laughing stock wastelands. I think the United States and most of Europe is smart enough not to let this happen. My only worry is for Russia and I hope they find the light soon enough that they don't become a third world country.
17.3.1. "Why have most of the things Cypherpunks talk about *not* happened?" + Except for remailers and basic crypto, few of the main ideas talked about for so long have actually seen any kind of realization. There are many reasons: A. Difficult to achieve. Both Karl Kleinpaste and Eric Hughes implemented simple first-generation remailers in a matter of _days_, but "digital cash" and "aptical foddering," for example, are not quite so straightforward. (I am of course not taking anything away from Kleinpaste, Hughes, Helsingius, Finney, etc., just noting that redirecting mail messages--and even implementing PGP and things like delay, batching, etc., into remailers--is a lot easier conceptually than DC-Nets and the like.
...It took a long, long time to make it.... through the hard times and the good....
17.13.4. "When will it all happen? When will strong crypto really begin to have a major effect on the economy?" + Stages: - The Prehistoric Era. Prior to 1975. NSA and other intelligence agencies controlled most crypto work. Cryptography seen as a hobby. DES just starting to be deployed by banks and financial institutions. - The Research Era. 1975-1992. Intense interest in public key discovery, in various protocols. Start of several "Crypto" conferences. Work on digital money, DC-Nets, timestamping, etc. - The Activism Era. 1992--?? (probably 1998). PGP 2.0 released. Cypherpunks formed. Clipper announced--meets firestorm of protest. EFF, CPSR, EPIC, other groups. "Wired" starts publication. Digital Telelphony, other bills. Several attempts to start crypto businesses are made...most founder. - The Transition Era. After about 1999. Businesses start. Digital cash needed for Net transactions. Networks and computers fast enough to allow more robust protocols. Tax havens flourish. "New Underworld Order" (credit to Claire Sterling) flourishes.
Then I wonder what they would call us in our era? The Age of Enlightenment? No, that comes next. First is the great shift.... where the greatest wealth transfer in the history of mankind takes place.
After reading through this document I can see that not only was cryptocurrency not a random mistake, but even Monero was a dream long sought after by the greatest minds on the planet. What does that mean? It means to get ready, because this thing is slowly coming together in a big way. And Monero is no alt-coin. This is the first valid implementation of Cryptonote, and from everything I can see will eventually serve as the private ledger for our entire fucking planet. I'm not talking $2,000 Moneros.... I'm talking $300,000 Moneros by 2030. And the more I ponder how it will happen, the more I realize that we are somewhere on an S-curve of adoption. And perhaps no one really knows where that vertical part of that S-curve is, but when it hits, you'll know. You will see Monero users go from 10 million to 1 billion very, very quickly. The price will skyrocket and we will see the vast majority of humanity's wealth transfer into it. At least, that's what this bottle of Ciroc is telling me will happen. But then again, you shouldn't believe anything I say: I sometimes have trouble with even simple math. ;) Have a good weekend everyone.
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