Thursday, October 31, 2019

Bitcoin

Bitcoin Enhanced project is very promising, interesting and necessary for society. The company should bring enough benefits to the world. I want to be a part of this event, I would like more people to know and join it.

#BitcoinEnhanced #investing #Phi #SMIs #CBE #XBE https://bitcoinenhanced.io/)


Miners Talk Bitcoin Halving 2020. Some think that it might cause miners’ revenues to crash, others think prices will quickly rise to compensate for the diminished rewards, all agree it will be a pivotal event for the industry.

https://www.coinfi.com/news/710825/video-will-bitcoin-crash-or-double-in-price-after-the-halving-miners-have-their-say

[Daily Discussion] Friday, November 01, 2019

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[Altcoin Discussion] Friday, November 01, 2019

Thread topics include, but are not limited to:

  • Discussion related to recent events
  • Technical analysis, trading ideas & strategies
  • General questions about altcoins

Thread guidelines:

  • Be excellent to each other.
  • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
  • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
  • No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

Other ways to interact:


How to buy Bitcoin (BTC) with a credit card

Bitcoin wallet is the most searched term today in the global boom of Bitcoin. During Bitcoin trading you need to have Bitcoin wallet to be able to execute the transaction. Today I will guide you how to create and open simple Bitcoin wallets by Atomic.

How to buy Bitcoin (BTC) with a credit card

https://www.youtube.com/watch?time_continue=1&v=V9Igzp9K37k



[Offer] Sign up on abra app and deposit $5 (us only) - get $25 from them and 10$ FROM ME - (Confirmed payout) (super easy)

Make an account, deposit $5 After sign up and the bonus comes in after about a week, send me your paypal/venmo/square to get paid

Must follow my link: https://invite.abra.com/SuYkFhp03Z

Terms: https://www.abra.com/referral-terms-of-use/

Terms pasted:

These are the Terms and Conditions of the Referral Program operated by Plutus Financial, Inc. d/b/a Abra, which is referred to in these Terms as “Abra”, “we” or “us”.

Eligibility and Agreement. If you use our Referral Program, these Terms apply. If you do not agree to these Terms, you must not use our Referral Program. If you use our Referral Program, you agree to do so in compliance with these Terms and with applicable laws and regulations.

Changes to These Terms. We may make changes to these Terms, including when there are changes in our Referral Program, technology, regulation or for other reasons. If we do, we will provide you with notice of such changes by posting the updated Terms on our website and changing the “Last Updated” date above. Any amended Terms will become effective no earlier than 5 days after they are posted and apply prospectively to use of the Referral Program after such changes become effective, except that changes addressing new functions of the Referral Program or changes made for legal reasons will be effective immediately. Your continued use of the Referral Program following the effective date of such changes will constitute your acceptance of such changes. If you do not agree to any amended Terms, you must discontinue using the Services.

You must be 18 years of age and older. Employees of Booking Holdings Inc. and its affiliates, as well as participants (including their representatives and staff members) in the Abra Affiliate Partner Program, are excluded from participation. All Referrers must be natural persons.

You agree that Abra, in its sole discretion, may suspend or terminate your participation in the Referral Program if Abra believes that you have violated or acted inconsistently with the letter or spirit of these terms. Any suspected fraudulent, abusive or illegal activity may be grounds for termination of your participation in the Referral Program. Abra may also in its sole discretion and at any time discontinue providing the Referral Program, or any part thereof, with or without notice.

Referral Fee

Unless otherwise agreed upon, by us, in writing, you will be entitled to earn a referral fee payable in USD or Bitcoin, [as determined by Abra in our sole discretion] for each new user wallet registered through your referral link that either (i) links their Abra wallet to an approved bank account and deposits a certain minimum in funds within 90 days, as communicated by Abra to you on a campaign-by-campaign basis; (ii) deposits a certain minimum in Bitcoin (or other currency) into their Abra wallet within 90 days as communicated by Abra to you on a campaign-by-campaign basis,; or (iii) otherwise meets the conditions communicated by Abra to you on a campaign-by-campaign basis. The amount of the referral fee will be communicated to you on a campaign-by-campaign basis by Abra. Abra shall pay the referral fee to you within seven (10) business days after the occurrence of either (i) or (ii).

You are limited to twenty (20) referrals in any one calendar year. We may impose additional restrictions on the number of referrals for which you can earn a referral fee. Any such restrictions will be communicated to you on a campaign-by-campaign basis. You may not create additional wallets for purposes of earning additional referral fees.

Display of Referral Links

You will not share or publish your referral link in a manner that would be in violation of applicable anti-spam laws or where there is no reasonable basis for believing that recipients would be interested in joining the Abra platform. You will indemnify and hold Abra, its directors, officers, employees, shareholders, agents and successors harmless, from and against any claims that may arise from any unlawful forwarding or sharing of the referral link.

Additional Restrictions

You agree that you will not directly or indirectly do any of the following in connection with your participation in the Referral Program:

Infringe on our intellectual property, publicity, privacy or other rights. Violate any law, rule or regulation. Post any content that is threatening, harassing, defamatory, obscene, harmful to minors, or contains nudity, pornography or sexually explicit materials. Transmit any viruses, Trojan horses, worms, time bombs, cancelbots, or other computer programming routines that are intended to damage, interfere with, surreptitiously intercept or expropriate any system, data, or personal information. Create multiple wallets for purposes of earning Referral Fees. Advertising & Publicity

We reserve the right to review and request changes to any materials that make reference to our Referral Program in our sole discretion. In the event we request any changes, you will cooperate and fulfill any such requests in a prompt manner. If you intend to promote our Referral Program via e-mail campaigns, you must adhere to the following:

E-mails must first be submitted to us for approval prior to being sent or we must be sent a copy of the e-mail. E-mail must be sent on your behalf and must not imply that the e-mail is being sent on behalf of Abra. Abide by the CAN-SPAM Act of 2003 (Public Law No. 108-187) with respect to our Referral Program. E-mails must first be submitted to us for approval prior to being sent or we must be sent a copy of the e-mail. Social Media

Promotion on Facebook, Twitter, and other social media platforms is permitted following these general guidelines:

You ARE allowed to promote Abra to your own lists; more specifically, you are welcome to use your referral links on your own Facebook, Twitter, etc. pages. You ARE PROHIBITED from posting your referral links on Abra’s Facebook, Twitter, Pinterest, etc. company pages in an attempt to turn those links into referral fees. You ARE PROHIBITED from running paid ads with Abra’s trademarks. You ARE PROHIBITED from creating a social media account that includes Abra’s trademarks in the page name and/or username. FTC Disclosure Requirements

You must include a disclosure statement within any and all pages, blog/posts, or social media posts where referral links for our Referral Program are posted as an endorsement or review, and where it is not clear that the link is a paid advertisement. This disclosure statement should be clear and concise, stating that we are compensating you for your review or endorsement.

For more information about FTC disclosure requirements, please review the FTC’s “Dot Com Disclosures” Guidelines at http://www.ftc.gov/os/2013/03/130312dotcomdisclosures.pdf (example 21) and the FTC’s Endorsement Guidelines at http://business.ftc.gov/advertising-and-marketing/endorsements

Indemnity

You shall defend, indemnify and hold Abra harmless from all claims, damages, and expenses (including, without limitation, reasonable attorneys’ fees) relating to: (i) your acts or omissions in connection with your participation in the Referral Program; or (ii) breach of this Agreement.

Disclaimers

We make no express or implied warranties or representations with request to the Referral Program or any Abra products and services (including, without limitation, WARRANTIES OF FITNESS, MERCHANTIABILITY, NON-INFRINGEMENT, OR ANY IMPLIED WARRANTIES ARISING OUT OF COURSE OF PERFORMANCE, DEALING, OR TRADE USAGE). In addition, we make no representative that the operation of our website will be uninterrupted or error free, and we will not be liable for the consequences of any interruptions or errors, including the tracking of information concerning referred users during any period of interruption.


Bitcoin might see Price Rally in Nov Six month before BTC Halving Event

https://tokenhell.com/bitcoin-might-see-price-rally-in-nov-six-month-before-btc-halving-event/

Weekly /r/Iowa Events Thread for the week of October 31, 2019

This thread is for any events going on in Iowa this week! What events will you be attending? What events do you want to attend? What events do you want to promote? Whats new around that state this week? Add a comment below. Anything from music to politics to a house party.

If you have any recurring events, specials, or other suggestions for this weekly thread, please send us a modmail or post it here and ping /u/annarchist - else it will likely be focused on shit Im interested in.

Please provide the following when posting new events: Time, Date, Location, Cost and some sort of description of the event.

New threads start every week, and will be stickied at the top of the subreddit. I am still working on the formatting, so if it sucks or you want changes, please provide feedback.

Here are some places to find things to do - if you see something that looks cool feel free to discuss it here because I'm sure some of us will miss it: Cityviews Calendar - Juice Calendar - Des Moines Register Event Page - Catch Des Moines Calendar - Travel Iowa Event Search

Outdoors: Trout Stocking Schedule | Iowa Biking Maps | Outdoors Things to Do | Hunting Regulations | Fishing Regulations Note -Annual Iowa hunting and fishing licenses expire on Jan. 10.

Sports: Iowa Cubs Schedule | Cedar Rapids Kernal Schedule | Hawkeye Football Schedule | Hawkeye Basketball Schedule | Iowa State Football Schedule | Iowa State Basketball Schedule | Drake Basketball | UNI Football | UNI Basketball | Barnstormer Schedule | Waterloo Blackhawks

Music: Bands in Town - Des Moines | Bands in Town - Cedar Falls | Bands in Town - Iowa City | Nitefall on the River

Local Message Boards: UrbanDSM|IowaOutdoors515Crew Election|Dates :--|:-- General Election|November 6, 2018. City Primary|October 8, 2019 Regular City & Regular School|November 5, 2019 City Runoff|December 3, 2019 Primary|June 2, 2020 General|November 3, 2020

Des Moines Reoccurring Events:
*Third Friday of Every Month is Mixology at the Science Center in Des Moines * Blues Jam Band every Tuesday at Carl's Place, $3 tallboys * Area515 1731 Grand Avenue, Des Moines - Electronics Club 2nd Wednesdays at 7pm - 3D Printing Club 3rd Mondays at 7pm - Ham Radio Night 4th Mondays at 7pm * Young Professionals Connection Calendar * Des Moines Bitcoin and Blockchain MeetUp at Gravitate in West Des Moines - 4th Thursday of the month - 7:00pm * D&D at Mistress Brewery in Ankeny Sundays 3:30pm-7:30pm.

Quad Cities Reoccuring events: * Every other Wednesday (July 25th): Eat the Streets (downtown Davenport) * relevant sub thread

Cedar Falls Reoccurring Events: * Every Tuesday night there are rides that leave at singlespeed in CF. 5:30 is the 22mph average ride. 6:00 is the 18mph average ride and women's ride. * Every Wednesday is the the CvC WOW ride that meets at 6 pm at 4th and Main St in CF. Several types of rides for all types of riders.

Council Bluffs Reoccurring Events: * Every Thursday night in council bluffs is the Taco Ride from CB to mineola Iowa

Central Iowa Bar Map - If you know who created this or want to download the XML and expand on it, please do so! If you create an updated one including your regions bar, Ill replace this one.

Note this is going to start likely central Iowa Centric as I am using that as the baseline the creation of this.

Tag/ping /u/AnnArchist if you post in here with like something added on a weekly basis. I also included the tag here so I remember to check this.

Iowa Discord Server


Bitcoin might see Price Rally in Nov Six month before BTC Halving Event

https://tokenhell.com/bitcoin-might-see-price-rally-in-nov-six-month-before-btc-halving-event/

Proposed method to email crypto-coins directly.

Below are some ideas I have been working on to allow direct off-blockchain transfer of Bitcoin Private Keys while preventing Double-Spend and Counterfeiting . There is a reference to tamper-proof Physical Bitcoin as DA BOMB- Directly Available Bitcoin On Metal Banknotes. These Physical Bitcoins and their digitally encrypted representations are the basis for off-blockchain exchange of value. Off-Blockchain exchanges are completely private and as fast as sending an email.

FAST BITCOIN

  • DA BOMB bitcoin pools
  • Bitcoin Cash blockchain data storage

Daily settlement between corporations, instant settlement on trading or funded shopping channels, physical bitcoin possession for investors .

Each platform which offers FAST BITCOIN will purchase a large amount of DA BOMB to power their digital envelope re-sale network. All networks will be compatible and fungible assets composed of.

When a customer places an order for DA BOMB I load a certain amount of BTC in various denominations onto a selection of bitcoin wallets, which are then manufactured as physical bitcoin.

This amount of BTC is the amount this customer can spend on the FAST BITCOIN network.

The Bitcoin the customer spends never moves on the BTC Blockchain.

The envelope containing the customer’s BTC is credited or debited a certain combination of addresses that contain a known amount of BTC, adding up to the exact amount of the transaction.

Transactions can only be made in ROUND NUMBERS of a certain resolution, such as 0.0001 BTC , and the resolution will be finer at a later date to account for the rise of value of BTC in the future.

The contents of a customer’s envelope will be maintained to allow for making change and to account for his spending or funding of his account.

The main issuer of FAST BITCOIN will be Satoshi Bitcoin Incorporated, with other platforms buying enough DA BOMB to issue their own FAST BITCOIN on their own shopping platforms.

Customers can always write to the platform and request that their remaining envelope balance be mailed to their physical address.

The envelope contents are tracked on a separate blockchain, the FAST BITCOIN blockchain.

Customers can use their physical bitcoin like paper money, or break the hologram seal and view the private key to use as regular bitcoin on the bitcoin blockchain.

Only TRUSTED NODES are on the FAST BITCOIN Blockchain. The Network is composed of the corporate members who offer FAST BITCOIN shopping at their websites, and join by invitation only. Large networks can fuel their own branded shopping tokens with FAST BITCOIN after paying a co-branding fee, or simply use FAST BITCOIN without re-branding to their own token name.

Software can equate all prices at a website to the token value of choice on the platform, so that the shopper may make purchases via FAST BITCOIN while referring to prices in stable fiat equivalent tokens, or re-branded token values.

The customer’s purchasing power varies with the price of Bitcoin, but the visible prices remain stable.

The customer may buy a StableCoin (not Tethers) to fund all or part of their account, or switch from BTC to StableCoin at will; or let the system do this for him. BTC going up, funding remains in BTC, BTC going down, Funding switches too StableCoin.

A purely electronic version of FAST BITCOIN will rely on a hardware device to store the private keys offline and always in encrypted form when connected to the internet.

There is object “A” : the FAST BITCOIN Wallet

There is object “B” : the individual private keys

The system works with a combination of Master System Key Encryption and Asymmetrical Key Encryption.

The Hardware device is called a SPLIT WALLET. It is a combination of a HOT WALLET and a COLD WALLET. The two halves of the split wallet can only communicate with each other when the device is unplugged from the device being used to access the Internet.

The Master System Key resides on the Cold Wallet and can’t be viewed without destroying the function of the Hardware Wallet.

To send bitcoin to a person on the network, the hardware wallet takes the addresses needed to add up to the desired amount and encrypts them with the PUBLIC KEY of the receiving device.

The BITCOIN CASH BLOCKCHAIN is used as a KEY SERVER to store the PUBLIC KEY of every device manufactured, linked to its registration number and owner identity. The OWNER IDENTITY is an EMAIL ADDRESS which is [REGISTRATION_NUMBER@FAST_BITCOIN.COM](mailto:REGISTRATION_NUMBER@fast_bitcoin.com) .

The addresses are encrypted by the SYSTEM MASTER KEY , then by the RECIPIENT PUBLIC KEY and emailed to the above email address.

The whole network is sustained by a peer-to-peer email remailer network. Software on the machine used by the hardware device to connect to the INTERNET is designed to run a peer-to-peer email remailer node.

As well as sending the recipient an email via the re-mailer network, an entry is made on the BITCOIN CASH BLOCKCHAIN containing the double encrypted bitcoin private keys, recipient email address, and transaction identifier . This also contains the device registration number as part of the owner email address.

Thus even if the domain is blocked from sending email the information needed to use the bitcoin is available from the data stored on the BITCOIN CASH BLOCKCHAIN.

The value of Bitcoin Cash does not impact the cost of sending bitcoin, since the transaction sizes to record data on its blockchain are very small.

When FAST BITCOIN is sent to a recipient, he must plug his hardware device into a laptop, phone, or other internet device to download the keys to the device. At this time while the hardware device is still connected to the internet the just received FAST BITCOIN will not yet be available to spend. It will show on the device as STILL ENCRYPTED. The user unplugs the device from the internet and then transfers the amount from the COLD SIDE to the HOT SIDE of his wallet while offline. If he wishes he may leave this amount on the COLD SIDE or transfer up to the entire contents of the SPLIT WALLET to the HOT SIDE to enable immediate spending as soon as connected to the internet.

The COLD SIDE contains the SYSTEM MASTER KEY and decrypts the PRIVATE BITCOIN KEYS in order to enable spending.

The hardware device checks the bitcoin blockchain to verify the amount of bitcoin held by each bitcoin private key, and also checks that the private keys it contains map properly to the public bitcoin keys used to view the balance on the device when it is connected to the internet.

DA Bomb

Directly Available Bitcoin On Metal Banknote (Da Bomb)

Bitcoin Metal Wallet Cold Storage on BTC Blockchain. A Crypto-Currency version of money, which may be exchanged for fiat currency.

Other major cryptos such as Ethereum , LiteCoin, and Bitcoin Cash may be substituted for bitcoin without affecting the usefulness of this offering. These versions will come out later, using the same physical format. (hopefully patented)

The design of the card should be modified enough from any existing patents to be patentable itself. The manufacturing, loading and documenting of the card should be done by proprietary and open-source software. This process should be patented as well or be part of the same patent.

These are physical BTC coins, in the form of a metal card the size and shape of a credit card. The Bitcoin Wallet is composed of two sets of engraved alpha-numeric and QR codes highlighted by black ink. One set is public and is on the outside of the card. A pull-tab almost exactly like the kind on a soup can is removed from the front of the card to reveal the inner contents . This is the engraving of the private key which is required to spend the BTC. Viewing it or detecting the exact nature of this code is equivalent to ownership of the associated BTC.

The public key on the outside of the card is used to deposit to or send to the card. In normal operations the card would come loaded with a certain amount of BTC.

The cards will be protected by security features and the quality control process during their manufacture.

The cards will be dipped in a coating of compounds to indicate a unique identity for each card, with short lengths of coloured fibres and paint floating on the surface of the clear lacquer compound and creating a unique visual identity. Each card is photographed and the image file uploaded to a database with the blockchain address and item id from manufacture all associated together.

A label is created and affixed to the outside of the card. On it are the blockchain address, photo of the untampered card, and amount of BTC deposited to card.

The private keys are not retained in file form at the manufacturer’s facility, or recorded in any way.

Before the key is deleted from memory and fully erased from all data storage devices, the photo of the engraving of it is compared to the key via character recognition software. When photo verifies as true then key is deleted from memory. Now the card is tracked by my own “in-house” item id, linked in the database to the blockchain address which displays the public key, and the photo file of the card. The card is photographed twice, the photo of the private key is deleted just after verifying the engraving matches the private key. The photo of the exterior of the card showing the paint lines and fibre positions on the card is kept on file. The offline computer takes the photo of the private key, the online computer takes the photo of the card after dipping.

The card is meant to circumvent the horribly high fees associated with using BTC as a payment method. Possession of the card is deemed to be legally equivalent to the ability to spend the associated BTC available via the private key. The nature of the tamper proof and hack proof aspects of the card manufacture lends credence to the continued value of the card as it is passed through consecutive transactions. The fees which would have been normally paid to enable these transactions on the Blockchain, will now have been saved by the people utilizing the physical Bitcoin cards. The Bitcoin transactions on the Blockchain are enabled by paying fees to “bitcoin miners”, who use large amounts of energy and computing power to solve complicated mathematical problems in order to process transactions and also to earn newly created bitcoins, of which there will only ever be 21,000,000. The fees for bitcoin transactions have become so high that paying for an item with bitcoin wouldn’t make sense for anything under $280 or so; and you had better be rich enough not to care about the $30 to $75 fee to buy just about any size purchase.

Instead of this, cold wallets containing small denominations of BTC can be exchanged via strong encryption and sending password and wallet via different delivery modes; or by physical bitcoin wallets.

At any time one may pull the tab on the metal card and reveal the private key, in order to obtain control of the BTC for use in a different cold wallet, or an online wallet. You will now have to pay transaction fees as per your new wallet details.

There is an instant financial advantage as soon as a group of people trust the value of physical bitcoin in transactions. All the miner fees for each transaction done with physical bitcoin are saved by the group. These transactions are valued in BTC, worth real dollars if exchanged for dollars; but with the dollar value always changing.

Volatility is a fact of life with Bitcoin (BTC), but the market has always trended upwards if you wait long enough. And the value has often nose-dived as well, in an unpredictable manner. A lot of people are holding (or “hodling”) BTC as a very risky and speculative investment, hoping the price will go up.

There is a great demand for bitcoin and that demand is going to increase in the near future.

How will I pay to load the BTC on to the cards? The cards will be loaded on an “on-demand” order process. The cards can be made up to a certain stage, where they have been dipped in tamper-proofing but not yet labeled. Up to this point they can be any denomination (amount) of BTC. When the payment for the order is taken at the online website then the card is loaded, labeled and shipped to the customer.

Besides the metal coin wallets denominated in various amounts of BTC; there will be “piggy-bank” versions of the card available. The BTC is loaded onto the card via the visible wallet public key engraved on the front of the card. The card owner can be paid debts owed to him via the public key. The card owner can send any amount of BTC to this receive address and it will become associated via the blockchain with the private key hidden inside the card. To spend the BTC loaded onto the card he will have to view the private key and send it to the hot wallet he uses online. Technical advice about fees, security, hacking and safety will be available at the company website, as well as many other helpful resources.

The denominated versions of the card are identical to the piggy-bank versions except for the label. The label covers the “receive” address on the denominated versions, as no further deposits to the blockchain are needed. The label on the piggy-bank version doesn’t cover the public key address, has a photo of the card and the manufacturer’s ID number. It also has a link to the Blockchain.info webpage associated with the public key address. Anyone with this address can see how much BTC is associated with the Public Key shown here.

Thus the intact tamper-proof BTC Card can be used with confidence, as the public key can be viewed on the Blockchain by anyone. As long as the amount on the card label matches the amount shown on the Blockchain.info webpage then the card’s private key can be trusted. This renders the card a form of “trust-less” currency equivalent to legal tender in value and usefulness .

The card format and manufacturing process is tested to obtain a hack proof product. The private key is not detectable by examination or any technical means without opening the pull-tab. This is essential to prevent theft and fraud. The card can not be opened, viewed , and sealed again.

A card without a label would be suspect, a card which had been opened and re-sealed obvious. Checking the blockchain address reveals the status of the BTC in question in any event.

The manufacturing process is outlined below:

  • A small computer runs software offline to generate unique Blockchain Key Pairs (bitcoin addresses). It is used to control a CNC router which engraves the keys onto thick enough metal strip to prevent x-ray detection after folding.
  • a press folds the strip over and makes the pull tab closure
  • a shear cuts the strip at end
  • robot welder heats perimeter of cut strip to weld shut
  • wallet has been hacked if it is bent or split open in any way
  • wallet is dipped in lacquer , photographed, BTC loaded and labeled.
  • BTC metal card is shipped to customer
  • during the “load” process a computer reads the “receive” address with a camera and automatically adds a transaction amount to send to that address , generating a cue of transactions from a wallet with miner fees adjusted to be very low, just barely confirming after paying the least amount possible. Transactions confirm in one or two days.
  • For loading customer requested bitcoin card wallets the option to pay higher fees is presented to the customer last time of purchase. This speeds up the loading and delivery process.
  • a machine prints the label and places it on strip over address.

The engraving is deep enough to be permanent but still not detected while wallet card is in closed position. The alpha-numeric and QR code versions of the keys are engraved and inked.

After the engraving, the private key is deleted from memory of the engraving controlling computer. This computer is never connected to the internet. Only verified software is used on this computer.

A separate computer controls the camera, label maker, and database connection to the internet.

  • The private key is replaced by an item number linked to the receive address.
  • a computer program makes a file which goes onto a new thumb drive
  • this thumb drive is loaded on the offline computer
  • thumb drive is passed to online computer hosting desktop wallet, set to low miner fees.
  • file is used to send BTC to wallet addresses

The same file is used to generate the labels.

Addresses are checked for BTC before coin Cards are offered for sale. A second stamp is placed on label when transaction confirms.

Coin is offered for sale at Amazon.com if allowed.

Coins can be exchanged as if fiat currency, with full confidence in BTC amount displayed on seal.

Sale price on Amazon will reflect BTC amount cost when loaded- possibly a great deal if BTC has gone up since loading, or actual cost of production plus 2%, plus miner fee and distribution fee.

Savings could be significant if BTC surges in value after coins are minted. coins are bought at time of minting by purchases of BTC at market price.

“Would you like to buy some free money?”

Demand for product is assured, as the value once for sale at Amazon increases over time. You will not be able to find cheaper bitcoin anywhere, sometimes. A small portion of my stock at Amazon will remain on sale at a very low price when the Bitcoin price rises. I plan on adjusting the price of my stock to reflect the current price of Bitcoin at the time; but not all of it, and not immediately. Every time the price of BTC increases by 10%, I will reset the price of my cards to initial values.

The initial values are the current price of BTC plus 2% , miner fees and distribution costs. As the market price increases after loading the cards, they are more and more of a deal for the customer.

This forms the basis of a great promotional value to sell the metal card coin wallets.

The profit.

Profit is calculated to be 2% of the BTC value when minted. Values from 0.001 BTC to 1 BTC are minted. This generates from $0.18 Cad to $180 CAD per card depending on value. I will focus on minting in the 0.01 to 0.11 BTC range, with profits of $1.80 to $19.80 a card.

customer pays: Cost of BTC when minted

miner fees, distribution fees, 2% over cost fee, Cost of manufacture. I estimate all costs not BTC or profit to be about $11 Cad per card.

Price of card is: BTC cost + 2% + $11.00 .

After purchase the card can be traded for cash, items or value of services. Miner fees are saved by every person after the initial purchaser of the card.

I want to mint around 1000 cards a day. This averages out to $18,000 profit per day.

The plan is to produce only lower value coin wallets until cash reserves are big enough to pay for larger denominations.

Customers can order from the lower denominations in stock or special order cards of any amount that they pay for at the time, shipped after production on demand.

This involves simply loading the customer’s purchase of BTC onto the card address and attaching the label.

As the price of BTC rises then stock available and loaded previously will be a special discount offer until the price resets after a ten percent increase in the BTC market value.

When selling the BTC coin metal cards at Amazon.com :

  • customer satisfaction assured
  • charge-back possible upon return unopened and intact, blockchain must show BTC available , BTC must be recovered to separate address
  • product legitimate and not forged or hacked
  • sell BTC coins from private website as well
  • website certified by CA
  • credit cards accepted
  • product return possible
  • Build reliable reputation
  • sell coins at vending machines
  • accept coins for cash at vending machines
  • make coins cheaper and better than BTC ATMs or Localbitcoin.com dealer purchases.
  • encourage retailers to accept physical coins, to avoid the transaction fees
  • Physical coins can be checked for valid BTC amounts on Blockchain before being accepted for purchase
  • Merchant can scan private key to cash conversion Bitcoin wallet “receive” address at a bitcoin exchange to obtain the current value of the BTC in cash without having to worry about the coin being hacked already or of losing money should the price of BTC fall immediately after payment.

Card is dipped in clear sealer with paint filaments floating in dip tank. Also small lengths of coloured fibre are floating in the resin coating. The unique pattern formed is photographed and printed on label stored in database with item number. Private key is not stored.

Sell in vending machines in Japan, Airports,New York Subway System, Pizza Hut, etc.

On the Directly Available Bitcoin On Metal Banknote (Da Bomb), the blockchain webpage address of the public key is displayed. To check that BTC are in the account, just go to that page. Unless tampered with, BTC amount will match that shown on label.

Full label is artwork, denomination in BTC, photo and blockchain.info webpage address associated with public key.

This idea is patentable due to the unique packaging of the cold bitcoin wallet in a pull-tab metal card. In this writing read “coin” as “card” as well. The card is evolved out of a sardine can with a pull tab lid closure, with very short sides and pressed flat all around the edge.

The goal is to have a design where the pull tab can easily be removed by an adult. It should be hard for a child to open without being shown how. The card should be only slightly thicker than a regular credit card, and not open while in a leather wallet’s card holder.The pull tab should not open accidentally while being carried in a wallet. The pull tab will be manufactured so that it must be rotated by 180 degrees before opening. A small screwdriver, nail file or fingernail must be placed into a small slot to twist the pull tab into the correct position to open, before this it is restrained by a shallow metal lip on the top of the card.

Research and development are required for this idea to be a success. The manufacturing process, security features and bitcoin loading and labeling must all be tested and verified as hack and tamper-proof. The customer must never receive a hacked or empty or unloaded card after purchase and delivery.

Attempts at fraud by the customer will be obvious. Only Intact cards will be accepted for refund. Product must always ship in perfect condition, as customer can only return intact card for full refund, no opened, missing or tampered with cards will be credited to customer for refund, and this will be part of the agreement with the customer at time of purchase. Before refund the balance of the card must match the denomination on the label.

Notes on manufacturing process:

  • I want to use a modified can forming machine to make the cards. They range in price from $25,000 to $400,000 .

  • there is a need to research the pull tab forming process.

  • the card “lid” must come off easy enough so that the tab will never break off first
  • the card must be made of very thin metal, but must not have sharp edges, be bent easily, or be readable on the inside while closed and sealed.
  • the goal is a card that is the same size and shape as any other bank card. The card should not be much thicker than 2mm at the most.
  • the patent development should focus on the card itself, the way the pull tab is tucked under the top before being twisted into position before pulling open, and second on the loading BTC process.
  • the process of generating the Private/Public alpha-numeric key pair, conversion to QR codes, engraving ,photographing and verifying codes; must be established in such a way as to prevent errors, fraud and unsaleable cards. no one should ever have the ability or opportunity to obtain the private keys or interfere with the engraving or photo process.
  • note that in photos of mock-up below: QR code and alpha-numeric public key versions would be covered by the label indicating the amount, and if a “piggy-bank” version no amount would appear on label. Only the public and private keys are engraved on the metal, the label has all the other information on it. Some artwork is engraved inside the card. If card design is not impervious to examination, lead or gold foil layers could be incorporated.

In the above I refer to not recording the private keys and deleting the server records as soon as the cards have been manufactured and checked for accuracy. please note that the recording of the private key for a certain amount of DA BOMB is required to power the FAST BITCOIN encrypted private key network.

thank-you


Bitcoin might see Price Rally in Nov Six month before BTC Halving Event

https://www.reddit.com/r/Crypto_Currency_News/comments/dpovot/bitcoin_might_see_price_rally_in_nov_six_month/?utm_source=ifttt

Monthly Nano News: October 2019


Halloween is the time to win!

The deex rocket is gradually gaining momentum and preparing for a real tothemoon. In just a few days, the token rate rised to the sky, so we decided to celebrate this event. Especially since it almost coincided with the Halloween. It means that you’ll find a double portion of gifts.

https://deex.blog/en/news/halloween-is-the-time-to-win/

#crypto #blockchain #hodl #trader #cryptocurrency #bitcoin #altcoins #deex #coinmarketcap #markets #cryptocoin #coin #coins #trading #криптовалюты #блокчейн #ieo #tothemoon #биткоин #tron #tron888 #halloween #хеллоуин


It`s been 11 years since the first bitcoin white paper was published

October 31, 2008, had begun the story of a radically new form of money when a person or group of people under the pseudonym Satoshi Nakamoto published white paper bitcoin - the first peer-to-peer payment system in history.

https://preview.redd.it/09f8yiy6zvv31.png?width=770&format=png&auto=webp&s=95f0d5a3146b096716a98f4f560b20b45f075f33

On the eve of this momentous event, the total value of the paid transaction fees in the network reached $1 billion.

Today, after 11 years, Bitcoin is one of the most secure computer networks in the world - its computing power is 91.2 EH/s.

This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).


CoinDeal Airdrop Free 100 CDL and Bitcoin

CoinDeal Airdrop is worth 100 CDL tokens for all participants and 0,0013 BTC for 10 lucky users randomly selected. Share your referral link to earn 0,000020 BTC coins for every referral. Also, there is a Referral Contest: 1st place: 0,0067 BTC, 2nd & 3rd place: 0,0034 BTC & 4th-10th 0,0013 BTC. The event will end on 12 November 2019.

About CoinDeal

CoinDeal is determined to be in the vanguard of efficient innovators and disruptors and becoming the first to set the new course for cryptocurrency exchanges that are globally licensed, compliant, and offer the highest possible number of legitimate pairs of crypto-to-crypto, as well as, Crypto to Fiat. CoinDeal’s focus is to become a key player that is able to maintain the current vision of cryptocurrencies while bridging the established world of banking.

The CDL is an internal exchange token that was created to create additional functionality within the cryptocurrency exchange platform that is CoinDeal. The token will allow for lower fees, more crypto and fiat pairings, as well as staking the token via CoinDeal to i.e. lower your market maker fee to even 0.0000%. CoinDeal is rated 4.4/5 on ICO Bench and has become the Global Partner of the Premier League. CoinDeal is already listed on CoinMarketCap. The Market starts on 12 November 2019.

Claim your free CDL & BTC on AirdropAlert: https://airdropalert.com/coindeal-bitcoin-airdrop


Step by Step Guide to Bitcoin Investment

Well, as with almost every other thing in life -if not all-, you have to buy it before you can invest in it. Investing in Bitcoin can be very challenging, and that is if you don't have the step laid down before you.

First you need to know that Bitcoin is a type of cryptocurrency, one of the very first digital currencies, that was invented, designed and developed by Satoshi Nakamoto, and it was released to the public in 2009.

And from thence, bitcoin invest updates as well as improvements have been made by a network of very experienced developers and the platform has been partially funded by the Bitcoin Foundation.

As bitcoin has become a hot topic of interest and a lot of people are investing in it, there is no harm if you too get some digital wealth. Interesting to note, back in 2012, Bitcoin firms were only able to raise $2.2 Million.

Despite the price decline this year, the cryptocurrency continues to experience growth in both users and merchants that accept it as payment.

So how can you be part of the action? Investing in Bitcoin for the average Joe can be simple is he just outrightly buys some.

Buying it today has been made simple, with many firms in the Unites States and all over involved in the buying and selling business.

For US investors, the easiest solution is Coin Base, which is a company that sells BTC to people at a markup that is usually around 1% over the current market price.

If you want traditional exchange, Bit Stamp may be a better option because users you will not only be trading with the company, but with users.

The company only acts as a middleman. Liquidity is higher and you can almost always find another person to take the other side of your trade.

The fees start at 0.5% and go all the way down to 0.2% if you have traded over $150,000 in the past 30 days. All these are already in their own ways, investments mediums, because the more you purchase BTC, the more profit you will be accumulating if you choose to store it or resell it to other traditional buyers at a higher price than the one you bought with the real companies.

You can also buy bitcoins another way other from exchanging. One of the most popular routes for so offline is the Local Bitcoins, which is a website that pairs you up with potential buyers and sellers. When buying, the coins are locked from the seller in the escrow, from where it can be released only to buyers.

But buying bitcoins offline should be done with some extra precautions, which are always usual, as you would when meeting a stranger. Meet during the daytime at a public place and if possible, bring a friend.

Bitcoin is about the hottest thing online right now. Investors and venture capital firms bet that it is here to stay. For the average Joe, many ways exist to get into investing and buying of Bitcoin.

In the U.S., the most popular avenues are Coin Base, Bit Stamp and Local Bitcoins. Each has their advantages and disadvantages, so do your research to find the best fit for you.



This IS the Bitcoin Explained Book you should be sharing with people who KNOW NOTHING about Bitcoin and tech

Being someone who has been investing and heavily building services on Bitcoin, Ethereum and alike public blockchains for the last few years, I often get asked about the Bitcoin by friends and family. And while I do enjoy talking about it over and over, it did occur to me at some point that the lack of understanding of the technology IS one of the reason (if not the main reason) for what seems to be a fairly slow pace of adoption. It's been over 10 years now and still most of the action is in trading space :( We have crypto exchanges exceeding billion USD daily in turnover and yet not a single widely known online retailer accepting crypto!

So, after two years of being in the building part of the ecosystem, I decided to put some time aside and work on that "adoption issue", starting with my friends and family. Unfortunately, nearly all current onboarding guides on the subject are still way too complicated for the mainstream. The mainstream audience knows nothing about the technical aspects of the blockchain and the originating concepts like UTXOs, proof of work, hashing, mining, private keys and the list goes on and on. Combine that with the fact that most people don't really understand traditional financial systems they are left somewhat clueless not only about WHAT Bitcoin is but also WHY it was created in the first place.
So, long story short, I decided to write a guide that both my friends and relatives would be able to grasp without compromising on some essential elements of the Bitcoin blockchain.

This is my first onboarding guide for someone with zero-knowledge in the field.
https://github.com/horizontalsystems/Bitcoin-Explained-Guide/blob/master/Bitcoin-Explained-Simple-Terms.pdf

Enjoy!



Taking Control of Forex Trading Stress

Stochastic and Relative Strength index are two of the most popular Bitcoin Revolution 2 Review momentum indicators. These indicators will serve as a guide for determining levels at which to enter and exit. It pays to use momentum indicators if you really want to make it big in forex trading.Stay away from predicting price movement to protect your forex capital. Base your trading decision on sound logic and analysis to succeed in forex trading.

There are many claims that developers make about their Forex trading programs. Some claim that their robots can make you money within your first day of trading. Some also claim their software is so easy to install, you can start trading within minutes of downloading the program. Some even claim that their robots are the single most effective and reliable means of trading on the Forex market.

By this point, you've probably already swallowed these claims hook, line and sinker, or you've convinced yourself that all robots everywhere are scams designed to rob you blind.The truth is somewhere in between, as you'll find if you do your research. Searching the Internet will turn up a myriad of assorted Forex programs all claiming that they'll make you money on the Forex market, guaranteed.

Like snowflakes, every one is unique. And like snow itself, it's a bad thing to rush into without the proper preparation. There are some truly reliable and trustworthy robots out there that can make you money without any human input whatsoever, but there are also ones that will eat your investment and give you nothing in return. Whether you're a beginner or a seasoned veteran of the Forex market, a Forex robot is a valuable tool to have, but you should make sure that you're buying one that can actually back up its developers' lofty promises. Here are some questions you should ask.

https://americansreviews.com/why-you-should-know-if-prices-in-forex-are-random/



$5 A MONTH OR $14.50 FOR 3 MONTHS OR $25 FOR 6MONTHS OR $40 FOR A YEAR "END OF MONTH HALLOWEEN SPECIAL" FOR NEW SUBS OR EXTENTIONS.OFFER RUNS OUT AT 0.00AM AND 1SECOND PAST THE HOUR GMT ON THE 1-11-2019

END OF MONTH HALLOWEEN SPECIAL FOR NEW SUBS OR EXTENTIONS $5 A MONTH OR $14.50 FOR 3 MONTHS OR $25 FOR 6MONTHS OR $40 FOR A YEAR.RUNS OUT AT 0.00AM AND 1SECOND PAST THE HOUR GMT ON THE 1-11-2019

NORMAL PRICES BELOW

IF YOU ARE SICK OF ALL THE BULL AND LIES AND WANT RELIABLE,TRUE AND A NO BULL IPTV THEN JOIN US ,WE WONT LIE OR RUN ,WE STAY AND SORT,YES CHANNELS GO DOWN BUT ITS HOW THEY GET SORTED THATS IMPORTANT.THATS WHY WE HAVE 4 CHANNELS OF EACH OF SKY AND BT AND MORE OF EACH OF BEIN,FROM MORE THAN ONE SOURCE PLUS MANY OTHER SOURCES FOR YOUR SPORT.SO GET ON BOARD WITH THE ORIGINAL WORKING IPTV AND NOT THE WANNABE COPIES THAT WILL BE GONE AS SOON AS THERE IS A KNOCK AT THE DOOR

WORKING COUNTRY LIST BELOW,RESELLER PANELS ARE AVAILABLE.WE WAS HERE BEFORE AND AFTER THE XC BUST,GET A TEST OR EVEN A MONTH SUB,TALK TO MEMBERS IN THE DISCORD GROUP,TRY IT AND SEE WHY WE ARE ONE OF THE MOST RELIABLE & BIGGEST & MOST STABLE AROUND & 10,000+ CHANNELS https://discordapp.com/invite/3YNHEPs

NEW CATEGORIES ADDED AND MORE TO COME,AUSTRALIA SPORTS,UK ENTERTAINMENT,UK REGIONAL,SKY SPORTS,BT SPORTS,UK SPORTS,PPV CHANNELS,SUPERSPORTS 1-12/NBC GOLD 1-10 ,MOTO GP/F1 CHANNELS,PREMIER LEAGUE CHANNELS,3PM KICK OFFS ,UFC/MMA/WWE,CRICKET CHANNELS,IRELAND,BEIN SPORTS 1-13,UK/USA MOVIE CHANNELS,UK/USA DOCUMENTARY STYLE CHANNELS,UK/USA NEWS CHANNELS,KIDS CHANNELS,24/7 CHANNELS,MUSIC CHANNELS,USA REGIONALS,USA ENTERTAINMENT,USA SPORT,NHL/NBA/NFL,MLB CHANNELS,ESPN PLUS 1-20 ,AND MORE ADDED EVERY DAY ,UNTIL COMPLETE ALSO HAVE THE FOLLOWING COUNTRY CATEGORIES https://i.redd.it/36qbayjaewu31.png

AUSTRALIA,USA,UNITED.KINGDOM,IRELAND,CANADA,SWEDEN,NETHERLANDS,NORWAY,DENMARK,GREECE,FINLAND,ICELAND,BEIN,FRANCE,SPAIN,GERMANY,iTALY,MALTA,PORTUGAL,TURKEY,BELGIUM,ZA AFRICA,AFRICA SUPERSPORTS 1-12(IN ENGLISH),POLAND,SLOVENIA,ALBANIA,EX-YU,INDIA,PAKISTAN,BANGLADESH,IRAN,AFGHANISTAN,AL MAJD MEDIA,ARABIC,MACEDONIA,CAUCASUS,BALTIC,CZECH,SLOVAKIA,RUSSIA,UA-BY,BRAZIL,INDONESIA,PHILIPPINES,CHINA,TAIWAN ,KOREA,JAPAN,SINGAPORE,THAILAND,SWITZERLAND,HUNGARY,BULGARIA,ROMANIA,LATINO,OSN & 24/7 CHANNELS ARE WORKING AS ARE SOME OTHER COUNTRIES BUT I HAVNT CHECKED THEM TODAY YET

VOD MOVIES & TV SERIES AND CATCHUP ALSO AVAILABLE ALONG WITH OVER 300 24/7 CHANNELS

AUSTRALIAN / AUSSIE FOX SPORTS 501-507,AUSSIE BEIN SPORTS 1,2 & 3,AUSSIE ESPN SPORTS 1 & 2

BT SPORTS ,SKY SPORTS,MOTO GP,F1,AFL,NRL,NBA,NHL,PREMIERSHIP,PPV,UFC,MMA,NOVA SPORTS,COSMOTE SPORTS,FOX FOOTY,FOX LEAGUE,ALL 3PM GAMES,NBC GOLD & SUPERSPORTS CHANNELS & SEPERATE ADULT M3U GIVEN TO ADD AS A SEPERATE IPTV

www.phuketiptv.com (ALL REQUESTS THROUGH HERE)

r/phuketiptv

CHANNEL LIST = https://pastebin.com/TXNMhV3x

$6 A MONTH OR $16.50 FOR 3 MONTHS OR $29 FOR 6MONTHS , OR ONLY $45 FOR A YEAR

M3U`S STILL GIVEN AS WELL AS MAC ID ACTIVATION AND XTREAM LOGINS

PLEASE CHECK JUNK MAIL FOLDERS OF PAYPAL EMAIL OR OTHER EMAILS YOU USED TO CONTACT ME AS SOME PEOPLE SUB DETAILS ARE GOING THERE UNTIL YOU ACCEPT MY EMAIL ID AS NOT JUNK

NO IP LOCK & ALSO EPG GUIDE COVERING MOST OF THE COUNTRIES

$6 A MONTH OR $16.50 FOR 3 MONTHS OR $29 FOR 6MONTHS,OR ONLY $45 FOR A YEAR

$1 FOR A 36HR TEST If TESTING FROM FRI-SUNDAY & MON-THURS ARE FREE

PAYMENTS BY PAYPAL FRIENDS AND FAMILY ONLY & SEND FOR ME TO RECEIVE THE EXACT AMOUNT,IF YOU SEND AS BUSINESS IT WILL BE RETURNED TO YOU AND YOU WILL NEED TO DO AGAIN. PAYPAL ID [jayandlak@hotmail.co.uk](mailto:jayandlak@hotmail.co.uk) (SEND ME MESSAGE WITH THE PAYPAL EMAIL USED TO SEND MONIES SO YOU GET YOUR LOGIN IN DETAILS QUICKER AND CHECK JUNK EMAIL FOLDER AS WELL FOR DETAILS)

PLEASE LET ME KNOW IN CONFIRMATION EMAIL IF YOU NEED M3U,MAC ID ACTIVATING,XTREAM LOGIN,ENIGMA 2.0 OR 1.6,DREAMBOX,WEBTV,OCTAGON,ARIVA,SPARK,SIMPLE LIST, GIGABLEU,FORTEC999,PRIFIX9400,STARSPORTS LOGINS OR SCRIPTS AS THIS MAKE IT EASIER FOR ALL OF US

PAY BY PAYPAL TO THE FOLLOWING ID [jayandlak@hotmail.co.uk](mailto:jayandlak@hotmail.co.uk)

PAY BY BITCOIN TO THE FOLLOWING ADDRESS 3QpwrCCKJ5pRjdLk5Gdj8ek43pkkPMBY2X

PAY BY SKRILL (https://www.skrill.com/en/) TO THE FOLLOWING ADDRESS [jayandlak@hotmail.co.uk](mailto:jayandlak@hotmail.co.uk)

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NOOBS GUIDE - How not to get your bitcoin stolen on Empire Market and verify any empire site

Empire Market v3 DDOS protected Mirrors

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Empire Market Mirrors

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READ THE SECURITY ADVICE BELOW TO MAKE SURE YOU DON'T GET PHISHED

PHISHERS ARE EVERYWHERE, EVEN IN PMs, be VERY careful.

DO NOT DEPOSIT MONEY UNLESS YOU SEE YOUR LOGIN PHRASE ON THE HOMEPAGE. you had the option of making a login phrase when you signed up. If you don't have a login passphrase or you don't recognise it you should create a new account that has one. When you see your own phrase on the homepage it is safe to deposit money into your account.

Also, Empire market never ask you for your PIN & Mnemonic. Bitcoin deposit address always starts with 3. Look for your login phrase on the homepage to ensure you are not on a phishing sit

comment 100% Upvoted

(verified)



[uncensored-r/BitcoinMarkets] [Daily Discussion] Thursday, October 31, 2019

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Happy Halloween! Audit Statuses of Canadian Cryptocurrency Exchanges

Halloween is a wonderful time of year!

Businesses and consumers alike dress up, children go door to door naively asking strangers for candy, and everyone parties celebrating things like death and evil.

In the spirit of Halloween storytelling, let me tell you a scary story.

There once was a Canadian cryptocurrency exchange. It had one of the simplest user interfaces, the CEO was well known in person and trusted throughout the country for over half a decade, and it had several deposit and withdrawal methods. It was the first to register as a money services business and for much of its history, it was one of the most legally compliant exchanges. It even looked to be headed for public listing on the TSX. The exchange operated for 6 years, assuring users that all funds “are stored in cold storage, using some of the most secure cryptographic procedures possible.” Unfortunately, while we celebrate Halloween by dressing up and wearing masks once a year, the wonderful people who brought us this exchange played “dress up” for over half a decade and time will only tell if there are any more “masks” to come off in this story.

There’s no better or more fitting time to explore one of the darkest realities of the Canadian cryptocurrency space - exactly what is backing any of the cryptocurrency on Canadian exchanges. It’s easy to lose sight that there are real people behind these funds. Most people spend most waking hours working for their money. It literally is their lives. Impacts to victims are not just financial, but psychological and social as well. Victims of exchange fraud go through depression, anxiety, and trauma. They lose their trust and faith in humanity. They withdraw from friends and family in shame and humility.

In the spirit of exploring dark and evil things, let’s examine exactly what evidence there is that any of your crypto is backed on any Canadian exchange. This is a continuation of research I’ve been working on since May/June. I hope it will be enlightening and help you better protect your funds that you worked hard for.

I’ve done a detailed analysis of all Canadian exchanges I could find that handle any sort of custody of funds, and grouped them into 3 categories:

  • Not Audited. The only assurance I was able to find that any crypto on the exchange is backed are their words. I was unable to locate any public audit or report of an audit.
  • Audited. This means that at some point in the past, the exchange invited someone with a reasonable level of credibility, who they showed the wallets to. This person/group, at that point, was sufficiently convinced that funds were actually held by the exchange.
  • Proof of Reserves. An advanced real time public audit algorithm. It shows that funds exist right on the blockchain, validates access to those funds, and uses a hash tree to enable any customer to verify that their balance is included in the total.

Non-Audited Exchanges (“trust us, we haven't spent your money, we promise")

Bitvo - The service “utilizes a proprietary cold storage solution”. Proprietary, as in, definitely better than established non-proprietary solutions. If you can’t withdraw, they “will credit your account for [their] withdrawal fee”. They’re not an MSB that I could find, nor are they audited.

Coinfield - MSB. No audit. Luckily it’s the "most secure trading platform in Canada" - though apparently not the other 150+ countries, including Estonia where they’re based. No matter which country you pick, the “Security” page still says "most secure trading platform in Canada".

Coinsmart - MSB. Not sure what "[i]ndustry leading cold storage" is, but luckily they’re so "accountable to [their] clients, community and to each other" and "committed to being open and honest" that they don’t need any audit.

Coinsquare - MSB. No audit. You can tell they live up to being "[t]he most secure trading platform" when everything is "100% proprietary". I’m sure the team at Coinsquare is smarter than established security standards by experts all around the world at protecting your funds.

Coinut - MSB. Also "the most secure cryptocurrency exchange platform". In addition to not using multi-sig and "not us[ing] USB drives, as the online computer may be infected with virus", they also don’t use audits.

Einstein - You can get “your money deposited and withdrawn faster than any other exchange”. As one customer said "With so many hacks and exit scams, it gives me confidence knowing Einstein is backed by hard-working people just like me." Just check the user experience on their subreddit from their "220,000+ satisfied customers".

EZ-BTC - As they said, “All your coins are kept in cold storage. They’re safe.” They have “strong security”. The supposed presence of physical ATMs was one of the strategies to build customer confidence and they promised 9% annual return on stored funds.

NDAX - MSB. Luckily also “Canada’s most secure trading platform” with "fast withdrawals". I couldn’t find any audit but at least there’s a full page risk disclosure and disclaimer. You can sleep peacefully knowing that they’re legally protected.

Netcoins - MSB. The best assurance I could find of solvency is that they “can process large transactions”. Although they don’t waste time with audits or links at the bottom of their website, apparently “[a]ll transactions happen quickly and securely” “within the same day”.

Newton - MSB. “No-fees”! Your funds are stored in the "professional custody" of Balance, which doesn’t appear to be a registered MSB. I couldn't find any audit of the funds but they "audit [their] policies and controls". They "publish the reports", but I couldn't find any reports. Simply storing funds somewhere else doesn’t give any assurance they cover customer balances.

QuadrigaCX - Operated since 2013, with “vast cryptocurrency reserves” right up to the end. "Bitcoins that are funded in QuadrigaCX are stored in cold storage, using some of the most secure cryptographic procedures possible." Their "cryptographic" procedures are so secure that nobody can access any funds, even now!

Shakepay - MSB. Many will trust the raccoon mascot promising “commission-free” trading. No audit found but the “majority of all digital assets on Shakepay are stored securely offline”. Whatever this means, it’s good to know that up to half might not be.

Audited Exchanges ("so and so swears we didn't spend your money, you can trust them, we showed them once before")

Bitbuy - MSB

  • “So and so” is Cipherblade, a security consultant group founded by a guy named Richard Sanders.
  • The audit was conducted on March 18th and 19th of 2019 and the full report is here.
  • Overall assessment: Bitbuy has a long history of buying/selling bitcoin without custody, and is likely too new to offering custody to have been hacked yet. The fact they have taken proactive steps shows promise.

Coinberry - MSB

  • According to the site, they "undergo annual 3rd party financial statement audits", but don’t mention by whom. According to “Newswire”, it’s a firm called MNP LLP.
  • I was unable to find any published report on the audit, which was completed prior to January 17th, 2019.
  • Overall assessment: It’s hard not to be a fan of Medium articles describing proactive steps that a company is taking, however without an actual report it can be difficult to assess the integrity of the reserves.

Kraken - Not a registered MSB in Canada (that I could find)

  • “So and so” is Stephan Thomas, CTO of Ripple.
  • The page literally says the audit was done "over the past several weeks", and since the page doesn’t have any date you might assume it’s recent. But look closely at the screenshot and you’ll see a date in 2014! Yes, that’s 5 years ago!
  • Overall assessment: While it certainly feels good to know an audit was done, the opinion of one individual from 5 years ago doesn’t say much about the state of anything today and they openly admit all kinds of limitations.

Proof of Reserves ("here's your money, right here right now on the blockchain, and here's a proof that we included your balance in that total")

Rather than depend on outdated audits (or lack thereof), it’s actually possible to use the blockchain and cryptography to enable a public real-time audit. This can give assurance to every customer that their balances are fully backed. Giving everyone the ability to check the integrity of balances will keep us all safer. It immediately exposes any fraud, and in most major hacking cases there was advanced hacking that went unnoticed ranging from months (Bitgrail), or years (Mt. Gox). Having an aware public reduces the number of people trading on fraudulent exchanges, and can pressure the exchange to shut down trading or resolve the hack faster, so less funds are permanently lost.

To help explain exactly what this is and how it works, I’ve started a detailed tutorial. I did not come up with this algorithm - it was created in 2014 by a guy named Gregory Maxwell. Sometimes cryptography can be hard to understand. Hopefully this tutorial is simple:

< < Take Our Proof of Reserves Tutorial > >

Given what can often be at stake, I had hoped that maybe one of the “audited” exchanges might embrace Proof of Reserves. Sadly I haven’t had any such luck.

Bitbuy:

  • Actually they reached out to me in response to one of my posts on Reddit July 14th, asking for detailed feedback on their services.
  • I provided an extensive summary of my research (I’d just put together descriptions of every exchange for a business plan.)
  • As of today, that response, which included Proof of Reserves among a multitude of other suggestions, is still unanswered.

Coinberry:

  • On the 4th of July I actually got a response from them to a casual mention where I was recommending their exchange (based on the Medium articles).
  • Their response, which didn’t address the Proof of Reserves, included the statement “All coins on our platform are 100% secured offline in cold storage“. On their site, Coinberry shows 15 minute withdrawal times in one of the screenshots. Perhaps they have a team standing around “offline” and ready to service withdrawals 24/7.
  • My subsequent response to them was not answered.

Kraken:

  • On their website they expressly give reasons why they don’t want "public knowledge of exchanges’ or wallet providers’ bitcoin wallets and total holdings".
  • They claim it has an effect on security, however public keys do not enable any access to funds - only private keys can. One would hope that their security of funds doesn’t depend on not knowing which wallets they own, since the blockchain is pretty public.
  • They also claim an effect on user privacy, which is important. Nobody should have any illusion that transactions to or from an exchange are secret in any way. I would highly recommend using privacy coins and setting up new wallets regularly, given that transactions are completely public on the blockchain already.
  • I was unable to get any clarification, either in live chat or multiple Reddit posts. Understandable, given the size of their operation.
  • Given that this was their stance after Mt. Gox, it seems unlikely to change based on recent events half a decade later affecting a much smaller exchange.

As such, the bottom line is that present exchanges don’t want to share public keys and offer the kind of transparency which is necessary to enable customers to know their funds are backed. Attempting to get answers doesn’t reveal them, and I’m left with an unnerving silence not unlike the end of Halloween night, like I’m asking questions nobody should ask.

Having spent the last 8 months of my life watching and being part of a large group of people suffer through a grueling bankruptcy, where we’ll be “lucky” to only lose 90% of our funds, I want this fixed. I don’t want to live in a reality where fraud can happen just buying/selling on the largest and most trusted exchanges. Especially now that I’ve learned blockchain provides the capability for even greater transparency and a level of public audit far beyond even what's possible with fiat.

If you feel the same way, I invite you to join Quadriga Initiative, where we are fighting for a Proof of Reserves future and also enabling businesses to help Quadriga victims with an innovative token recovery project. Every sign-up helps us reach our goal and launch the project!

If any information in this post is incorrect, please let me know so I can fix it! Thanks! I’m happy to update the audit status of any exchange given reasonable evidence, or provide a review of any other custodial exchange I might have missed.