Friday, June 4, 2021

WATCH Bitcoin Miami 2021: Inside the 50,000+ attendee event | Blockchained.news Crypto News LIVE Media

https://www.blockchained.news/2021/06/watch-bitcoin-miami-2021-inside-50000.html

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Weekly news review

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#weeklynewsreview

🙌🏻Wish all of you a great Friday and most interesting news!

🇷🇺 Let’s start with the good news which brings back hope that the original idea of cryptocurrency as a means of payment can still be implemented.

Chairman of the State Duma Committee Pavel Krasheninnikov said that lawmakers intend to introduce cryptocurrencies in Article 128 of the Civil Code of the Russian Federation on objects of civil rights. This means that in the event of an inheritance distribution, divorce or bankruptcy, cryptocurrencies can be added to the rest of the property.

According to the Constitution of the Russian Federation, only the Russian ruble is considered a legal means of payment, but after amendments to the Civil Code of the Russian Federation, settlements in digital currencies can also be provided, if there are agreements.

🕰 Vitalik Buterin admitted that the creation of Ethereum took much longer than he expected — according to his first estimates, it should have taken about three months, and in the end stretched for eighteen months. Deploying the second version of the network will take even longer.

“We thought it would take one year to prepare for the transition to Proof-of-Stake, but in fact it will take six years. If you are creating a complex project, be prepared for the fact that you will spend much more time on it than you planned”, Buterin said.

☝🏽By the way, the DecimalChain team more than agrees with Vitaly and, of course, is initially ready to spend as much time as necessary to create a high-quality product.

💔And finally, Elon Musk does not stop playing with public opinion and a new tweet from the director of Tesla led to a fall in the BTC rate by 5%.

In his tweet, Musk jokes and quotes from songs but the main trigger for the panic of emotional investors was probably just two harmless emoticons: a broken heart and a Bitcoin icon.

☀️Have a great weekend, happy emoticons and good news!

Bitcoin Scam or Hacks

" Within the FIRST 48 HOURS of my bot going live, on Jun 19, a whopping 9.5 BTC was transferred into an address for which I had the private key. This was approximately worth $23,000 USD at the time. I was shocked.

This is the address: 12fcWddtXyxrnxUn6UdmqCbSaVsaYKvHQp

The private key is: KzfWTS3FvYWnSnWhncr6CwwfPmuHr1UFqgq6sFkGHf1zc49NirkC

whose raw bytes are derived from Sha256 of:

16SH69WgJCXYXWV58sxjTxonhgBh5HCZTt (which appears to be some random address previously used in the chain)

BUT… I had failed to test my program sufficiently and it failed to submit the transaction! The 9.5 BTC was sitting there for almost 15 minutes before being swept away by someone else. I honestly didn’t think the first amount to cross my radar would be so high. The other samples I found from past transactions were for tiny amounts. It is quite possible that whoever moved them later out of the poisoned address actually owned them. Maybe someone else’s sweeper bot only takes small amounts most of the time to avoid attention?

At this point, I was pretty confident I was on to something not yet discovered by anyone else. I could have taken those 9.5 BTC and if this was known to others. Also, if you look into the history of that account, 12 BTC was transferred into it (and out right away) only one month earlier. No one has claimed any theft (to my knowledge) involving that address.

I fixed my program (actually tested it properly this time) and let it run again. My program detected more transactions (2 within the next 48 hours). I coded my bot to ignore anything less than .1 BTC so I didn’t move them. I didn’t want to tip off the anyone that I knew what they were doing (if that was indeed the case).

Another 3-4 days passed and the next hit my bot detected was for roughly .03 BTC (~$95USD). For some reason, this was not transferred out immediately like the rest. By this time it was July 4th weekend. I let this one sit too and it took a full 7 days before it was moved (not by me). It may have been the legitimate owner or a bot. We’ll never know.

The destination address was: 1LUqqMzaigWJTzaP79oxsD6zKGifokrh7p The private key raw bytes were: c193edeeb4e7fb5c3e01c3aebd2ec5ac13f349a5a78ca4112ab6a4cbf8e35404

The plot thickens… ——————–

I didn’t realize it at the time but that last transfer was into an address for a private key not generated from another public address like the first one. Instead, this address was generated from a transaction id! I had forgotten that I seeded my database with private keys generated with transaction ids as part of one of my earlier experiments. I didn’t label them so I didn’t know which were from Sha256(pub address) and which were from transaction ids. I found some hits at the time but when I checked the balances for those accounts, they were all zero and I didn’t think anything of it. But now my database was detecting ongoing transfers into THOSE addresses (transacton id based) too!

Okay, someone was possibly using information from the blockchain itself to ensure private keys were discoverable for the addresses they were funelling bitcoin into. The interesting thing is I found a link between the 12fcWddtXyxrnxUn6UdmqCbSaVsaYKvHQp address (via sha of a public address) AND the 1LUqqMzaigWJTzaP79oxsD6zKGifokrh7p transfer (via the tx id as a key). In the history of both of these addresses, you can see the BTC eventually ended up into this address: 1JCuJXsP6PaVrGBk3uv7DecRC27GGkwFwE

Also, the transaction id was for the previous transaction to the one that put the BTC in the toxic (discoverable) address in the first place. Now it became even more clear. The malicious code sometimes used a recent transaction id as the private key for the doomed destination address. Follow the .03 BTC back and you will see what I mean, you eventually get to the txid = private key for that discoverable address.

The 1JCuJXsP6PaVrGBk3uv7DecRC27GGkwFwE address is ONE of the collection addresses. I have reason to believe there have been many over the years. This one only goes back to approximately March 2017. You can see in the history of this one address when they consolidated their ill-gotten gains into one transaction back to themselves.

I let my bot run longer. The next hit I got was for block hashes that were used as private keys (see Experiment #1). Sure enough, this address also had links to the 1JCuJXsP6PaVrGBk3uv7DecRC27GGkwFwE collection address!

And remember my merkle root experiment? I believe those were also part of this. However, I have not linked those to this one particular collection address yet. In the end, I found a total of four different ‘discoverable’ private key methods being used.

I made sure my database was filled with every block hash, merkle root, transaction id and Sha256(public address) for private keys and let my bot run. Transactions for all four types were showing up, again for tiny amounts which I ignored. By this time, I was watching BTC getting taken in small amounts regularly. Sometimes, I saw as many as 6 transactions fly by in one day.

How fitwear lost (and got back) 9 BTC ————————————-

On Nov 12, my program saw 9 BTC transferred into an address that my database had the private key for. I had searched for that address too to see if anyone was claiming ownership but I didn’t see anything. I decided to send a small amount to a well known puzzle address to give the transaction some public scrutiny in an anonymous way (1FLAMEN6, I’m still trying to solve this BTW). Shortly after, I became aware of fitwear’s reddit post claiming theft after someone noticed the prize amount had been topped off and linked the two events together.

I contacted fitwear privately and returned their coins minus the small amount I sent to the puzzle address. Blockchain.info’s original response to his support ticket, was that his system must have been compromised. However, if you read his post, he took every precaution including typing in the key for his paper wallet instead of copy/paste and using 2FA.

In his case, in Aug 2017, he imported the private key for his 1Ca15MELG5DzYpUgeXkkJ2Lt7iMa17SwAo paper wallet address into blockchain.info and submitted a test transaction. At some point between then and Nov 12, the compromised 15ZwrzrRj9x4XpnocEGbLuPakzsY2S4Mit got into his online wallet as an ‘imported’ address.

Together, we contacted blockchain.info and I relayed the information I just outlined above to them. Their security team investigated but found no evidence it was their system that was at fault. I suppose it’s possible his system was somehow compromised back in August and managed to import a key into blockchain.info without him knowing it. Or someone else logged into his account, imported the key, then waited. I feel the malware/login explanations are much less likely because it looks like code attempting to ‘hide in plain sight’ to me. You wouldn’t need to use Sha256(address) or block hash or txid or merkleroot if you were malware or an unauthorized login. You would at least salt or obscure the key with some bit of knowledge only you know so that only you could derive the private key (as mentioned earlier). The fact that information from the blockchain itself is being used indicates it may be some transaction processing logic. Also, fitwear took extreme precautions (you can read his reddit post for details). The origin of these poison destination addresses remains a mystery.

If it’s the case that some wallet generation code is doing this, then it may be the case that we’re seeing ‘change’ transactions. When you create a wallet, there maybe 20 addresses generated. They are all supposed to be random keys. If this rogue code creates one of them in this manner (based on the public address string of an earlier one), then at some point, your ‘change’ will get put back into it as the wallet ’round-robins’ through the list.

fitwear’s 15Z address sat unused until Nov 12 when fitwear transferred his 9 BTC into it using blockchain.info.

To see the connection, take a look at this:

echo -n “1Ca15MELG5DzYpUgeXkkJ2Lt7iMa17SwAo” | sha256sum 9e027d0086bdb83372f6040765442bbedd35b96e1c861acce5e22e1c4987cd60

That hex number is the private key for 15ZwrzrRj9x4XpnocEGbLuPakzsY2S4Mit !!!

fitwear insists he did not import the key for that address. Did Blockchain.info generate it or was it added by mallicious browser code? We may never know.

See below for the complete list of other Sha256 based addresses that suffer from the same issue. I believe this is happening for others. It’s likely, that the small amounts usually taken are going unnoticed by the owners.

What does this mean for bitcoin? Nothing probably. I believe the bitcoin network itself to be secure. However, as long as humans are involved in the services that surround it (mining pools, exchanges, online/mobile wallets) there is always a chance for fraud or error. The bitcoin network itself may be ‘trustless’, but anything humans touch around its peripheries is certainly not. And you need to use those services to get in/out of the network. So even with bitcoin, it still boils down to trust.

To be fair to blockchain.info, only Sha256(public address) (one in particular) was found to be present in one of their wallets. The other 3 methods I described above could be completely unrelated. And they could all possibly be a (really weird) software bug.

Here are 100+ addresses that received bitcoins whose private keys are the bytes resulting from Sha256 of another public address. Most of these came from a scan I did of old transactions, not while my bot was running. Blockchain.info told me they do not appear to have been generated by their system.

Also, the list of addresses I”m providing are only the subset that have already had some BTC transacted through them. There are likely hundreds more lying dormant inside people’s wallets that have not been used yet.

Here is the list:

1G2rM4DVncEPJZwz1ubkX6hMzg5dQYxw7b Sha256(1PoHkMExsXDDBxpAwWhzkrM8fabmcPt6f4) 1Kap8hRf8G71kmnE9WKSBp5cJehvTEMVvD Sha256(1LdgEzW8WhkvBxDBQHdvNtbbvdVYbBB2F1) 1LsFFH9yPMgzSzar23Z1XM2ETHyVDGoqd5 Sha256(1FDWY63R3M87KkW2CBWrdDa4h8cZCiov9p) 13eYNM5EpdJS7EeuDefQZmqaokw21re4Ci Sha256(1E7kRki9kJUMYGaNjpvP7FvCmTcQSih7ii) 1CcSiLzGxXopBeXpoNSchagheK9XR61Daz Sha256(191XapdsjZJjReJUbQiWAH3ZVyLcxtcc1Y) 1J9Gtk5i6xHM5XZxQsBn9qdpogznNDhqQD Sha256(16fawJbgd3hgn1vbCb66o8Hx4rn8fWzFfG) 1A17F9NjArUGhkkiATyq4p8hVVEh2GrVah Sha256(1Je3tz5caVsqyjmGgGQV1D59qsCcQYFxAW) 1GGFXUL1GoHcEfVmmQ97getLvnv6eF98Uu Sha256(1DCfq8siEF698EngecE69GxaCqDmQ2dqvq) 14XxBoGgaJd1RcV3TP8M4qeKKFL9yUcef1 Sha256(1Frj1ADstynCYGethjKhDpgjFoKGFsm5w5) 18VZKyyjNR8pZCsdshgto2F1XWCznxs86P Sha256(1FEwM9bq3BnmPLWw5vn162aBKjoYYBfyyi) 12fcWddtXyxrnxUn6UdmqCbSaVsaYKvHQp Sha256(16SH69WgJCXYXWV58sxjTxonhgBh5HCZTt) 19T6HNnmMqEcnSZBVb1BNA6PrAKd5P2qZg Sha256(1Frj1ADstynCYGethjKhDpgjFoKGFsm5w5) 1MWBsFxWJrNtK2cN2Vt7j3a9r5ubfn41nx Sha256(16era4SgYEcbZD1pu6oCBXGXjK2wSrePe8) 1Ns55SngRhshA8kEnyuQ9ELZZPN7ubYfQJ Sha256(1NiNja1bUmhSoTXozBRBEtR8LeF9TGbZBN) 13CnacdjvuuTJkCWrZf33yMrQh5aVX5B14 Sha256(1KPDwnrzJAfD2V4oiPf55WBTAi6UJDvMjN) 1MG1dTqtWVNqq3Qht88Jrie7SXp2ZVkQit Sha256(1UvM3rBJ8Sa1anQ8Du1mj5QZapFmWF7vH) 1DBXjdbMWXmgt81E1W7AYRANVPiq12LsGd Sha256(1Poi5SE42WVR2GKPrwp9U3wYqEBLN6ZV1c) 1GUgTVeSFd2L5zQvpYdQNhPBJPi8cN3i4u Sha256(1EjWVhiTyCdpTa29JJxAVLq27wP4qbtTVY) 1JQ2shEPzkd3ZL3ZQx7gmmxFLvyhSg14cb Sha256(1KEkEmadjTYHCiqhSfourDXavUxaiwoX7f) 125PcPD4QXzgDwNPForSFji8PPZVDr2xkp Sha256(1GRdTKgSq5sY3B4PiALPjKTXSXPXs6Ak7X) 1kN83e7WRtsXD7nHn51fwdEAi51qk5dEe Sha256(1JcsBzKio1curbu9AtxTySxddvT4MKT3Da) 1L5pzdXL4hhtMHNxFXHjjdhhSidY9kJVRk Sha256(1V8tWZw4J3G5kBgafGsfoVSNQEgkxDmeA) 1cQH5XCsezkKt9zpwjHizz8YJZudDSwri Sha256(1AYKSUqCtDX1E34q4YoFnjwWSj41huWgGG) 1DHWP6UjSKBBUR8WzTviWAGNgLfDc6V6iL Sha256(1MbzspFCdXjtqAUx3t6A11vzrk5c847mvE) 1EqSvLnMhbRoqZkYBPapYmUjMS9954wZNR Sha256(1XAeTJCaYJgoBDwqC1rhPhu3oXiKuMs9C) 1MJKz1M7dEQCHPdV5zrLSQPa4BGFAuNJyP Sha256(1BxzenHnSuKwqANALE5THeTCSRZkv3ReRP) 18VZG5Dr8bYJWadHUgh7kC4RPS1VsvH4Ks Sha256(1qA59Na3WysruJbCPoomryDRCtJ4f4aLu) 1CoyRECWJ4LHNiZAgAz9719chFkrDJuNMC Sha256(19o4Yjrd74qnZ3z87C67BShbbF4fSNHy8W) 1ERKXYeaCy97KPdJTRbWjJDVzMbStJYqCm Sha256(1DMwZeQJXfWToRRHr5uRiKeucwDWkWLvkm) 1mbcQaPzsaBoaYP4V6uwCA74BRPhroK3r Sha256(1KzSULbG3fRVjWrpVNLpoB6J62xYL42AdN) 1gHad7cKWDcVKFeKcLRW4FhFAyw2R7FQZ Sha256(1LFCEek8FobJRXb5YrzWJ6M2y8Tx2Xg3NB) 1DvtF6X5b9cBrMZa4Yff9tARCLqP5ZyB47 Sha256(14nuZCWe76kWigUKAjFxyJLFHQyLTsKXYk) 1LzGrd5QX1rG5fk7143ps9isUTEwGyzRJE Sha256(19cMyj9KqVq78yZe32CNhgpyuGLMwM9X8S) 153jMRXn251WyxT9nmJW2XDsFUJ648jyY5 Sha256(1PF2gQPPAwQDfTrSuNX6t8J381D7s3bGFu) 1EFBsAdysTf81k72v9Zqsj3NMuo6KoWD2r Sha256(1BBBvd9G5YThYVVMSGSxJzQvQiQm3WxJC2) 14mRxKmeEw9DCBbpR596FYmfZVdBD8MJxh Sha256(1PLpQDyqDUcpK6fWpRhkkFVBw4tSK4sHkS) 1Hg9pi75XWAT9pB3faXQFKKZbh98cbM5m Sha256(1JoshVWQDa7DzXqN3wQ9dbig5WEfaAzHcM) 1PcExYX3mUJ1rwa4aTLNJUpxqRLU8MxPXm Sha256(1LTZ9kaxRHBZH43eSmZ2KoGLHHUBV3P2S5) 1J9SzdYMZFsLqunQfPAswzogLNBitbREMD Sha256(1A7grBEjor6Sapj8KRbEGj2UrbnNt1Usxo) 1FNF3xfTE53LVLQMvH6qteVqrNzwn2g2H8 Sha256(1H21ndKEuMqZbeMMCqrYArCdV8WeicGehB) 1Q2a1ytfujskCEoXBsjVi1FqKWHegfFKwD Sha256(1LzGrd5QX1rG5fk7143ps9isUTEwGyzRJE) 1PfcpvjYUGu4yvpkEHmAKgDXtsLfSNyzvV Sha256(153jMRXn251WyxT9nmJW2XDsFUJ648jyY5) 1M2uEGihcwUPiRGETE7vF8kUiS2Z4rtV2Q Sha256(1HqQBiqgFK6ChJ2Vq7kbWRCbc73cjyNXv5) 1Kka5bgXvpHTNDsPmhLPHae2qcK9mLS2qS Sha256(1E3D7NabEX971uV2gXT47rWQwPm3zbmvd8) 17hMEK4i8Nsi56huBU4i9N4Gjiw5G6X5iG Sha256(1Nk6a8ZfN86gaHJifcF8iGahx4scCKkwF5) 1DT4Q4ocUFgekXvBqBM6kFmvQYB6Y4PnHo Sha256(19aNbfFfZEWwstuy97C1GsHHELNCxZSEYV) 1CSMVivJfFynvbZRrLFHVGnehpXLUjdGRc Sha256(1p4gsrzTc3mFAgJKYqMzhm6UsJzhgy1KX) 17SaWquajZZBRF5qz6HuXMRt6gvnrDyoqE Sha256(1C1KjGATUXP6L6nnGTAh4LQcnSyLt13XyB) 16eePivj1nTVvLpBGkmFoeGxNyMU7NLbtW Sha256(1K79KaFs4D6wqz1wjP1QoYiY18fw8N3bZo) 1PF2gQPPAwQDfTrSuNX6t8J381D7s3bGFu Sha256(1J9Gtk5i6xHM5XZxQsBn9qdpogznNDhqQD) 1GSkK6KBVSycEU57iK6fRvSXYJ4dgkkuNt Sha256(1JZwnSQz64N3F9D3E24oS4oGhSxMWDsXYM) 12eGusvkCcJb2GWqFvvE1BLDJ8pVX49fQv Sha256(197HxXUSehthdqXM6aEnA1ScDSCR7tQmP3) 134Kia3XhZV6oXE4EUvjc1ES8S8CY7NioU Sha256(1PVn2gxgYB8EcjkpJshJHfDoBoG8BntZWM) 1HMGSkDB9ZhRoUbSEEG6xR7rs9iPT2Ns5B Sha256(1E4yLggKcgHcpSKX336stXWgheNU2serVz) 13qsbkaJM7TkA5F2dsvHeGVQ7kCo74eGxh Sha256(1FAv42GaDuQixSzEzSbx6aP1Kf4WVWpQUY) 1Jsz6mahqVMJn2ayWzN6TfeWTti9tqfbSM Sha256(18AsiEQoLLKaF4Co1z4rxHyzJu9oqTVbFE) 1BwjscJC3P47uW5GXR7tjeHkdXQk6CuAFb Sha256(1JuP7JXhHabGLVAqp9TJj5N171qLVHrcVq) 17kYPYbELyVfMSYihD4YETJSZq5yCs3diM Sha256(1HzJPqLEpbeXiYhyoA8M8cuuds3FEAnw3B) 1C9HtVz7H8NArfV613wQNHs4PrK2oLZEYh Sha256(1EGeEk4YUrXyDL4zNXpWdqJopoVxs2vExJ) 16bEBNuc7JQ4QzyoFAkmxdVvW4wJqicjVN Sha256(12GvGqEQuQTW4Rr8dZ1o397KAYCMGWPYkq) 141V8fK9Kuofit8AXh9SLV9N9bLTfftETA Sha256(15nXjzf8EXy8Lji3czM1HAVw14mEKoEiTw) 19cMyj9KqVq78yZe32CNhgpyuGLMwM9X8S Sha256(17FaMY613bKfwhrdTv5PHnucSGTJBcw3k5) 1CRq6nj3a7vXdJJN2YSWdW6fVwydr6kqWs Sha256(1J1ZPHbbEwgcwniH3F7AgBeFZxQXJoKCGf) 1BVNt39u32LLkxMvBeBHXXNaTJqWe1Xcu5 Sha256(17iLALAyra1W5KSUjjkGN5LeUsWdeoQQx3) 1Mpw88XWQzLTZnq1eNs5SegZYGJu5Epky8 Sha256(1LeuaozTUT5UJX6DD4Q1VJsHh6aHpZ3YRU) 1LkwU9xbVroLkH9EvxDfmMnsCikQzaUv9S Sha256(16bEpxSc1FDyQDXR7ZYKbyyDDxzyaaCnNS) 1D97u8Pet8YmNwKaCPUXLyi4zk1HnLF5RQ Sha256(137XrofaWZhaZW2uB7eDsPjcwCNMTXVLot) 1KyUNmmJu3JjauVEZQUYLUEBg48GXXS1ii Sha256(17S3XjtEFXQoGdXnUjJJtGB1D7PTa9SsLZ) 1HwxL1vutUc42ikh3RBnM4v2dVRHPTrTve Sha256(1FfmbHfnpaZjKFvyi1okTjJJusN455paPH) 137XrofaWZhaZW2uB7eDsPjcwCNMTXVLot Sha256(1JvaK7jYWFNbDsJZLarXnq1iVicFW4UBv5) 1FXi6kEJjnZUBqpwjVJKPsgVHKag86k6qq Sha256(1FEYXtchFFJft6myWc6PyxLCzgdd8EHVUK) 1Gj2uRnxDztM7dTDQEUQGfJg4z5RtAhECh Sha256(1ESkNMa9Z37of4QdJmncvibrXxZ7suPjYm) 1JhWnRjRm7AhbvSBtEifcFL8DkEKQiWRZw Sha256(13Q8rTtdGUUt8Q8ywcEffj4oiNrY6ui3cu) 131XQfvE7E1NzdRQnE8XFmtkxWVRXTsb9q Sha256(1FLeb3zCVG63NYAMBiUoqKYgW1tUwgMMfF) 167dyxowdWwBdofck3WuAwvUpVfn2ewx8Q Sha256(1FFAdm2BWoCfTkTwFLJ4o3b5xG7cuRxbWb) 1CVunYyUpeCFcGAYdHrDNrXcQFBVU8gyo9 Sha256(1BEYFim8uoJ7FAZG6m1E1hqLwKjfVwnWU1) 14XAGCAeUxieSzvGK3TX915PJLvX54n2Pd Sha256(17XQfW1R66aRBNYyJMwzn7zLf3D6sZgda3) 1M5jhEDKQCYbMCXHgcRUmaxwqYmcbrEfGD Sha256(1AixDffKCd1cV1tz1sp8fwJQDEAYCWzQcR) 1HPnYqbMvV4bGRcpSP28mMyekhjKiudcFY Sha256(1C91NNyzXE1dBC4dDKjx6y5VnhihifrpCY) 15XWgB1biKGd1JyuYecobfFtfBcVt6Jnok Sha256(1268xJ8iYUdRxK2vArkyoa5es6bR99hjhR) 1NHvPBaxKFuDec27mWcyCf7szUUvNnfimK Sha256(1LdgEzW8WhkvBxDBQHdvNtbbvdVYbBB2F1) 1AoocdeZC64PaQ15Gbv1kXyYYnN8FWXAST Sha256(1Et9zapAxsBLJ3bvY7LDTuHif5cH7mZiBE) 1NWCqz8nr8ZRZt1zEKidyWcZDyNtK3THps Sha256(17Xok12pBFkXxNcE8J4gTSm3YKkatyX4ad) 1Lv6T9RegiNHpES1DHu6AasDcUqp2SeqLb Sha256(1LDqitspsYaiLH6AMW5EzJYuZG5vTGzRNg) 16FKGvEtu5KPMZqiTK4yjmsSZsJLyxz9fr Sha256(1CRWfJdgVrfKLRS4G3vTMRhEQrCZZyHNMo) 14JpZ9Bogo4p83xt6cKS1Fh1rLSFRat8PN Sha256(1FBxoyGYaC9GEKLokfyrHUbZyoZmmm1ptJ) 1BEYFim8uoJ7FAZG6m1E1hqLwKjfVwnWU1 Sha256(1PfcpvjYUGu4yvpkEHmAKgDXtsLfSNyzvV) 1P9ZZGDG1npYd4d7jiCfPya6LQGkF5sFm7 Sha256(1LFGKkDZ21FZVsBh1A1S5Xr6aXuV3x9N4k) 1JvaK7jYWFNbDsJZLarXnq1iVicFW4UBv5 Sha256(1LdkWzq9DxopPkY1hCmQ3DezenP5PQLNC3) 15RjQKt6D4HBn87QqgbyvhKFNDDjXncp8Y Sha256(1PhmMsdwamJA6soKw5mNMXxzGomHEHWY5P) 1G7B5eVnAQgeuGrKxcRnrmEqPLsjRkgnVF Sha256(1D97u8Pet8YmNwKaCPUXLyi4zk1HnLF5RQ) 192qwAD31JB9jHiAwaTDkd6teb2hLAkY3b Sha256(1PhqA75qNM23aH9zV3uWvUhDbdwcab6q5L) 13mbvCyxCYvATNzranCkQdpCT19VGpMFZa Sha256(1F3sAm6ZtwLAUnj7d38pGFxtP3RVEvtsbV) 1HJx3CqdaHAX6ZYRBHDvM5skg2Vh7GeZBD Sha256(1KrutzZZ7rth6D9wasfGz2oy9R6k1RCL9n) 1HBsFJ9VngvMjaKZjbFhNRaegkjF9NBEe Sha256(1CVunYyUpeCFcGAYdHrDNrXcQFBVU8gyo9) 1KiGdZ9TUeWyJ3DyHj7LQLZgjvMHd6j2DZ Sha256(18SV4DVmytRDYB5JBAFkewUbVAp6FRpi5c) 13FzEhD3WpX682G7b446NFZV6TXHH7BaQv Sha256(1E1rSGgugyNYF3TTr12pedv4UHoWxv5CeD) 1LVRWmpfKKcRZcKvi5ZGWGx5wU1HCNEdZZ Sha256(1CVPe9A5xFoQBEYhFP46nRrzf9wCS4KLFm) 1HhNZhMm4YFPSFvUXE6wLYPx63BF7MRJCJ Sha256(145Sph2eiNGp5WVAkdJKg9Z2PMhTGSS9iT) 1G6qfGz7eVDBGDJEy6Jw6Gkg8zaoWku8W5 Sha256(18EF7uwoJnKx7YAg72DUv4Xqbyd4a32P9f) 1MNhKuKbpPjELGJA5BRrJ4qw8RajGESLz6 Sha256(15WLziyvhPu1qVKkQ62ooEnCEu8vpyuTR5) 18XAotZvJNoaDKY7dkfNHuTrAzguazetHE Sha256(15SP99eiBZ43SMuzzCc9AaccuTxF5AQaat) 1HamTvNJfggDioTbPgnC2ujQpCj4BEJqu Sha256(14nuZCWe76kWigUKAjFxyJLFHQyLTsKXYk) 17iqGkzW5Y7miJjd5B2gP5Eztx8kcCDwRM Sha256(1MB3L1eTnHo1nQSN7Lmgepb7iipWqFjhYX) 15M7QfReFDY2SZssyBALDQTFVV1VDdVBLA Sha256(16bjY7SynPYKrTQULjHy8on3WENxCmK4ix) 1LgwKwv9kt8BwVvn6bVWj8KcqpP9JSP1Mh Sha256(1Q81rAHbNebKiNH7HD9Mh2xtH6jgzbAxoF) 1pmZwNDZjpuAqW3LjYYQCEjbQYBtSxzWc Sha256(13PctMqzyBKi5CpZnbastHQURrSRrow4yj) 1qA59Na3WysruJbCPoomryDRCtJ4f4aLu Sha256(1HBsFJ9VngvMjaKZjbFhNRaegkjF9NBEe) 19QBydCuMiY7aRTbkP2tb3KQJUWkTrr5Xi Sha256(1JwSSubhmg6iPtRjtyqhUYYH7bZg3Lfy1T) 11EuerTwe9rxtT3T56ykX5K7J3AksPzU3 Sha256(14PnZgX8ZDABJZ8RnatkK7DQzdpkwRRPX2) 13JNB8GtymAPaqAoxRZrN2EgmzZLCkbPsh Sha256(1LGUyTbp7nbqp8NQy2tkc3QEjy7CWwdAJj) 1Ads6ZWgRbjSCZ37FUqcmk82gvup1gQurB Sha256(1NbBTJQ5azGEA1yhGnLh39fE8YoEbePpCm) 1LWU4SbnqnfctAMbtivp2L98i8hSSCm7u7 Sha256(1MVqDAJo8kbqKfTJWnbuzvfmiUXXBAmX3y) 12B1bUocw8rQefDcYNdckfSLJ6BsUwhRjT Sha256(1Pjg628vjMLBvADrPHsthtzKiryM2y46DG) 12GZz1D1kdX3Fj7M87RFvqubam8iGrK77R Sha256(1Lu49ZKmGoYmW1ji3SEqCGVyYfEw7occ86) 13wY5CtwQhd7LYprEpFpkt1g9R7ErMkAwT Sha256(1NPSWKXdnHa17NWTU3J6nVkyogZjmAh7N6) 1Kc324Y6UUMffeYdtuXgzVC28Kx3U8cqQk Sha256(1HAQB99WfrV2ttRjttUPMzRi4R1uC2ftMy) 1Gwz14Cty45h3hZ4nCEno6jSdxtQn5bc7h Sha256(1PDgY5PkpBNCZVWKKAq3cbGyqvwwN91z4g) 1L2a5n9ar7e2v3Wz6NDFnxisigvR6urGaY Sha256(1KxUVU9DKfdaTLMnXBLS5BZRf56cFnRosk) 1KwUfu3gGk7n8Wz969tAztvvM4Mp4ZY57s Sha256(12XuaKzEheWbFJBno9QiV6kPCWrnWpUYTK) 13JNB8GtymAPaqAoxRZrN2EgmzZLCkbPsh Sha256(1LGUyTbp7nbqp8NQy2tkc3QEjy7CWwdAJj) 12fcWddtXyxrnxUn6UdmqCbSaVsaYKvHQp Sha256(16SH69WgJCXYXWV58sxjTxonhgBh5HCZTt) 1MkaTR3642ofrstePom5bbwGHbuQJmrnGD Sha256(1BynBc2YUAoNcvZLWi24URzMvsk7CUe2rc) 114LdauSAu2FTaR2ChPsPTRRhjYD9PZzn2 Sha256(144BV4Y7tgnetk5tDKAYTGS4mjprA75zJz) 1NzWscae8v3sKmTVJYwq8yhkizK8hUS5qP Sha256(1ENCBKFsqxJVCqR2TS1WfDV3rDi6zA8J6Y) 1FjEL7TBazaJN7WyND4uwq9wiaWDzfizkP Sha256(1PeCGFsJgqz8CcjGugGq5bPBiRDXUZHLUH) 1FP8j4zUPoJkpKwYpd8zYGHVaKygRHzx3d Sha256(1ERdvKTCxP1gZvdNndLKtYotW7qpR3xhuQ) 16nXouTPm5gVedr4Betb8KRWLSBtmXGUbD Sha256(16oTV1jZPJ5wm3QLhN96xVF7DchihmpL1k) 15ZwrzrRj9x4XpnocEGbLuPakzsY2S4Mit Sha256(1Ca15MELG5DzYpUgeXkkJ2Lt7iMa17SwAo)

My bot moved coins from the last two addresses only. (No one has claimed ownership from 16nX). All other transfers were the result of other people who either figured this out or are the ones who planted the bad addresses themselves (since 2014).

And these are some recent examples of private keys that are based on other information from the blockchain itself (as stated, may be completely unrelated but still happening on a regular basis).

1LUqqMzaigWJTzaP79oxsD6zKGifokrh7p c193edeeb4e7fb5c3e01c3aebd2ec5ac13f349a5a78ca4112ab6a4cbf8e35404 txid 1FQ9AneLGfhFf9JT5m5sg5FaYFeJrGmJhS 00000000000000000045fa3492aee311171af6da7d05a76c6eaadab572dc1db9 Block Hash 1DhcPvYWBGwPFEsAJhXgdKtXX7FFGGeFVS 00000000839a8e6886ab5951d76f411475428afc90947ee320161bbf18eb6048 Block Hash 198MRUHD2cvgUTBKcnroqmoTSs4b8xyLH9 7dac2c5666815c17a3b36427de37bb9d2e2c5ccec3f8633eb91a4205cb4c10ff Markel Root 19FHVnoNYTmFAdC2VC7Az8TbCgrSWSP1ip 000000000000000000db717b4c076da2d1b9ff8ddbc94132e3a8d008a0fb62b9 Block Hash 1Lr2yEny7HYJkXdFgJ2D8zHyNH1uHMi4w4 2bedfd92a6136566bb858b2f0d223744a41a987c468356d069acc86f45bf68ac txid 1QBbjKxRk1jP36WYpFkJjgzhvVSDBMWjy2 f1599a1ced833d95a54aa38a1a64113d5f0a4db3cb613ef761180cab57155699 txid 1BFYNokepXjbb9Han2AGfSTNKNNU9vgAAn 533da7e41bd99550f63f152ef1e613f1a78e3bed12788664d536c6ec42b5e0aa txid 1MJtsgDNrrFWS3qxtrPr6BnQUdp1qPjyEm 216fb568589629b115b0ed8fc41fdf3219d9ab804c6ce5e53fbc581a88427c3f txid 14syDBvpGXS6PtWytkDJF2QACvSggEZ277 a7f4def1c7ff07d17b5dd58fc92f18ee2dbee6dc7654fd30a8653bd9d848f0a0 txid 1QBbjKxRk1jP36WYpFkJjgzhvVSDBMWjy2 f1599a1ced833d95a54aa38a1a64113d5f0a4db3cb613ef761180cab57155699 txid 1BkHAUcfrZLRLyXHiBn6XRoppPqSzuf8hE 805cd74ca322633372b9bfb857f3be41db0b8de43a3c44353b238c0acff9d523 txid 1CNgVFjAwHT7kc6uw7DGk42CXf1WbX4JQm 53d348ca871dc1205e778f4d8e66cfdadbd105782dba6688e9a0b4bdee4763e4 txid 1HjDAJiuJ8dda919xwKBqphhEwBVGfzMGt 0aad1b00a5227d9b03d33329a5a11af75c75c878a064c69b276063cbea677514 txid 1PDnrPSCw9eWTtJss4DhYoLTk4WUmZQdBi f87b08218888f97388218d3e2489962403f7eece98dd8b4733671edeb9ad1a7c txid 1MJp4z3ig498hNATfgHBAnLFhwoZpvw118 000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f Block Hash

I think this information should be made public about discoverable bitcoin private keys so that other backend systems plugged into crypto networks can guard against this sort of ‘hide in plain sight’ attack. As stated earlier, I honestly set out to look for buried treasure and stumbled upon someone else’s exploit. Thanks to yt_coinartist’s assistance in making this public. "

Source : Anynomus . If you find it useful You can reward me on :-

1Lvt6C5ke4hyoWoNHdMdzBcfNrLFkBYzxh

.............................................................................................

"Committed to the Original Intention for the Past Five Years' Journey of Dream Pursuit": ViaBTC Celebrates Its Fifth Anniversary with Five Major Surprises for You

Great waves sweeping away sand, the real gold then emerges

Since the birth of digital mining, mining enthusiasm has grown year by year, and the hashrate of the entire network has kept rising. Individual miners can no longer manage it as a scalable, specialized, and globalized mining industry has become the norm. In the past few years after the Bitcoin halving and the volatile ups and downs of the crypto market, the mining pool industry has also gone through the test of time, eliminating countless weak market players. Those having survived have basically developed in a scalable, specialized way.

https://preview.redd.it/3v176jlpn7371.png?width=830&format=png&auto=webp&s=a982452c340b21095e01a5cff3072f6b425944a8

Since its establishment on June 5, 2016, ViaBTC has grown into a world-renowned mining pool. During the past five years, committed to providing the best services for miners, ViaBTC has been improving its products, making itself the preferred choice among the majority of miners. It is such original intention, commitment, and great technical strength that turn this five-year-old company into a global comprehensive crypto mining pool which remains one of the top five mining pools by BTC hashrate and one of the top three by BCH and LTC hashrates.

Committed to the original intention during the five years of dream pursuit

For the past five years, besides providing stable technical support, ViaBTC has always placed miners’ interest on the top of its list of priorities, and kept rolling out new services to safeguard their income. For example, it provided multiple income settlement methods such as PPS/PPLNS, so that miners can gain better income by the most appropriate means. At the same time, they can automatically withdraw their mining yields and have the cryptocurrencies mined swapped into USDT or BTC, thus securing a stable source of income even amid volatile fluctuations.

ViaBTC also seizes the first-mover advantage in financial innovation by introducing “hedging” and “staking”. The “hedging” service provides a way of hedging against risks arising from crypto price fluctuations based on a prejudgment of market dynamics, and “staking” offers miners working capital in a short time so that they won’t suffer forced liquidation. Both services draw on the logic of mature financial instruments to maximize miners’ yields.

Behind its good reputation among global miners are ViaBTC’s commitment to high-quality services, profound technology accumulation, and continuous efforts to innovate products for the past five years. On June 1, ViaBTC officially kicked off the “Give Me Five” event with consideration rewards to celebrate its fifth anniversary. During the warm-up period for this event from June 1 to June 4, you can answer questions in the Eggs and win rewards on the event page anytime.

https://preview.redd.it/0xodqahxn7371.jpg?width=800&format=pjpg&auto=webp&s=0f88bde9e52199c8ea279568bfaff67550b66625

Five Eggs with $2,000 worth of BTC

After the warm-up events, the fifth-anniversary celebration will officially start on June 5, and everyone can get their hands on all the five Eggs containing considerable BTC/ETH/DOGE rewards and rate coupons for the transaction of multiple cryptocurrencies.

https://preview.redd.it/87648yhpo7371.png?width=1025&format=png&auto=webp&s=a10a23b721298432f0eb92bd73671adf8f42b31f

All ViaBTC users are welcomed to this fifth-anniversary celebration event. During the event, you can get rewards in the corresponding Egg upon completing any one of the following five tasks:

Answer all the 8 questions in the “Questions with Rewards”;
Turn on automatic swap (for any cryptocurrency);
View the exclusive referral code;
Withdraw assets to CoinEx for the first time (or turn on hedging);
The hashrate of any mining pool> 0;

https://preview.redd.it/8qr2e40yo7371.png?width=746&format=png&auto=webp&s=2650eef4840c47117b26e942bf29c81377c18207

We appreciate current miners’ continued trust and support for the past five years and welcome more new miners to join in our fifth-anniversary celebration to share the benefits of digital mining!

Cardano Rumor Rundown JUN 04 2021

Hey Everyone!

Let's go...

Newly covered today:

Sundaeswap ISO delayed due to regulatory concerns. This brings up interesting questions for the whole space about requesting regulatory permission vs. possibly being forced to ask for forgiveness. https://www.sundaeswap.finance/posts/iso-update
Tim Harrison has announced that the transition to Alonzo Blue was successful. https://twitter.com/timbharrison/status/1400481879883649034

Previously Covered but still interesting:

The Essential Cardano List is published by IOHK. (credit to /u/cascading_disruption for pointing this out) https://twitter.com/InputOutputHK/status/1390728385945550848
Cryptodoggies.org NFTs are now available. The website says 50% will go to a community voted animal charity. https://www.cryptodoggies.org/
For those learning Haskell, Check out this new video on Type Theory. https://www.youtube.com/watch?v=Y7blCeETJo8
Also, Lars puts out a new Plutus Pioneers video on Native tokens. https://www.youtube.com/watch?v=6VbhY162GQA
ADA is the most crypto of all cryptos. George of CryptosRUs pointed out in a recent video that he couldn’t find any trace of a VC firm owning Cardano in its portfolio in his search of the categories section on CMC. This makes sense if you know Cardano. Would freedom and decentralization loving Satoshi not throw up a little in his mouth to find out that VC ownership of cryptos was a metric people would care about in 2021? The lack of VC stake in the very decentralized and freedom loving Cardano only adds to our already iron-clad claim on the mantle of the most crypto of all crypto projects. Our ecosystem never sought to attract VC money that would only centralize ownership in a smaller number of hands. This doesn’t even address the current extreme centralization of block validation in BTC and ETH. https://coinmarketcap.com/cryptocurrency-category/ https://etherscan.io/stat/miner?range=7&blocktype=blocks https://www.blockchain.com/charts/pools
IOHK has dropped a new article on the status of KEVM and IELE. Grigori Rosu of Runtime Verification says a proof-of-concept of IELE should be ready in six months. This is a key component in how we get to the ocean of all developers as we grow beyond the pond. https://iohk.io/en/blog/posts/2021/05/10/runtime-verification-iele-from-interoperability-to-universality/
Cardano saw a new challenger enter the scene with Internet Computer (ICP) debuting very high on the CoinMarketCap charts. However, a look into ICP makes one question whether they are really in the Gen. 3 Blockchain race at all given that available information indicates the blockchain runs via datacenters hosting standardized hardware and that those datacenters can only join the network with the permission of the “Network Nervous System”. You could say that the winner of the Gen. 3 Blockchain race needs to solve the blockchain trilemma of decentralization, security, and scalability. If that’s true, then it’s arguable that ICP is not even competing in the decentralization leg of the race. https://youtu.be/zHl-oVPoX88?t=97
The new venture of Sebastien, Nico, and Robert Kornacki is announced: https://twitter.com/dcspark_io. That’s a hell of a team!!!!
The Cardano Subreddit hit 400k users! https://www.reddit.com/r/cardano/
Alonzo Testnet Updates. https://cardanoupdates.com/ https://twitter.com/InputOutputHK/status/1392457888636022789
IOHK drops a blog entry on the strategic partners in the Plutus rollout! https://iohk.io/en/blog/posts/2021/05/12/developers-add-muscle-to-plutus-smart-contracts-on-cardano-for-defi/
Does Elon’s move away from BTC (ostensibly for environmental reasons) hold promise for ADA? https://twitter.com/elonmusk/status/1392602041025843203
The case for Cardano to replace BTC with Tesla and beyond is building. https://twitter.com/CardanoStiftung/status/1392806669810339851 https://twitter.com/elonmusk/status/1392950720979030019
Charles makes the case for collaboration with Starlink in Africa. https://twitter.com/IOHK_Charles/status/1392916783854616577
People are starting to realize what the real value of NFTs will be. It’s not in collectibles. https://twitter.com/RaoulGMI/status/1392939118355783682
The Cardano Development Update for this week is out. https://roadmap.cardano.org/en/status-updates/update/2021-05-14/
The Cardano 360 team also dropped a video with specific mid-month Alonzo testnet updates. At the timestamp in the link below the vid lays out the various test groups and when they will participate. https://twitter.com/InputOutputHK/status/1393258090703826944 https://youtu.be/5mPC4uLMdEw?t=532
We are seeing some small pools retiring. We’ll obviously see more and more of this as time marches on. But, here’s a salute to the small pools that gave it a go! This SPO also brought us poolpeek.com which we have covered here before. https://twitter.com/CardanoBudz/status/1393252321845465088 www.poolpeek.com
John O’Connor on CNBCAfrica! He gave a really good explanation of how Africa with it’s already very high adoption of mobile payment wallets can leapfrog the legacy payment systems currently in use in more developed countries. He also reiterated that Cardano will expand to five countries this year and 20 next year! https://youtu.be/RET8hIQQLUA
This tweet by u/TheADAApe pretty much sums it all up. When people ask me how I knew, I’m going to point them to this post. https://twitter.com/ArmySpies/status/1393606491110662146
To hear about something truly good happening in the Cardano ecosystem check out this interview with Mickey Watkins, CEO of World Mobile, on the Hotel Cardano podcast. Really good details on World Mobile's connecting the unconnected in sub-Saharan Africa! https://youtu.be/L15bn_b2moA
What if these two got to talking about what Atala Prism could bring to the table for students in the city of Miami? https://twitter.com/IOHK_Charles/status/1393574632305868805
The saga of BTC maximalists being angry at Elon continues with Elon implying that Tesla could sell its BTC while Cardano continues just doing its thing like normal. https://twitter.com/elonmusk/with_replies
Likewise, Marc Cuban tried to FUD real world use of Cardano only to be confronted with a giant infographic of use cases and partnerships along with an explanatory video just for him. https://twitter.com/mcuban/status/1393646131708665858 https://twitter.com/IOHK_Charles/status/1393689887648272384
Initial Stakepool Offerings (“ISOs”) are here. Crypto is no stranger to novel means of capital formation and now the Cardano ecosystem is getting in on the action. Here is SundaeSwap’s explanation of how ISOs will work. https://sundaeswap-finance.medium.com/iso-sundae-with-the-works-c5c335101ef5
ICYMI, Manuel Chakravarty reminds us all that his Cardano Summit 2020 talk is publicly available for questions on native assets. Really interesting discussion of the asset identifier just being a hash of the policy script and how that helps create a super lightweight easy to use system. https://twitter.com/TacticalGrace/status/1394263629088923649
Elon confirms that Tesla has not sold any BTC. https://twitter.com/BTC_Archive/status/1394051036462071808
Charles makes a whole video about how to fix Doge. https://youtu.be/iQd9XjEm8EE
The Ecosystem is getting even bigger every day we inch closer to Alonzo! https://twitter.com/TyIsDigital/status/1394345977952284676
The Cardano Foundation is out to do something incredible with supply chains as described in the fireside chat! In his previous Cardano Live appearance, Frederik Gregaard, CF CEO, also expressed a very healthy and sustainable perspective on what DeFi should become. He compared the current state of DeFi to just moving funds from your left pocket to your right pocket and taking profit. https://youtu.be/d8uPMZplfeM https://youtu.be/xbMSQUA1lss
The ISO model entering the capital formation toolbox in Cardano is going to make the stake pool game extremely interesting with SPOs scrambling to find the right balance between rewarding ADA and giving their delegators other things like tokens. Some stake pools could even become like portfolio funds with relationships with many different projects the tokens of which are given to delegators. Babel Fees could also play a role here for smart SPOs as they may allow access to a wide variety of tokens in the ecosystem that could be used to reward delegators with a sort of index fund exposure to a wide variety of Cardano projects.
May Cardano 360 coming one week from today (always the last Thursday of the month). https://twitter.com/InputOutputHK/status/1395117067960045569
New delegations from IOHK are out. Congrats to the selected SPOs. https://twitter.com/InputOutputHK/status/1395087751746310156
The Cardano Foundation has released the full video of the Fireside Chat with Eva and Fred. Lots of questions answered on a variety of fronts. Very interesting remarks including that in discussions with financial institutions, Fred has found they are interested in exposure to the alpha provided by the asset class in general, tokenization of assets, and the yield provided by staking rewards. Fred counters that they SHOULD be far more interested in the Cardano standard including the concepts of reference accounts, programmability of money, and transaction metadata. https://youtu.be/JW6s9Jkyazg
In a video press release yesterday, the Fed finally admitted that it’s moving toward a central bank digital currency (just like every other central bank). This will eventually be impactful on Cardano and every other crypto ecosystem. https://youtu.be/WOAQxpG79Ag
The Treasury is trying to figure out how to get cryptocurrency regulation in a headlock. This will probably go hand-in-hand with the Fed’s March toward a CBDC. Afterall, what good is all the tracking and monitoring afforded by a CBDC if it’s easier for everyone to just use a non-central bank digital currency? Tax evasion in crypto is also obviously a target problem since we know only about 800 people a year paid taxes on crypto in 2013-2015. https://www.cnbc.com/2021/05/20/us-treasury-calls-for-stricter-cryptocurrency-compliance-with-irs.html https://home.treasury.gov/system/files/136/The-American-Families-Plan-Tax-Compliance-Agenda.pdf https://www.businessinsider.com/bitcoin-taxes-overview
The Cardano Foundation has released the full video of the Fireside Chat with Eva and Fred. Lots of questions answered on a variety of fronts. Very interesting remarks including that in discussions with financial institutions, Fred has found they are interested in exposure to the alpha provided by the asset class in general, tokenization of assets, and the yield provided by staking rewards. Fred counters that they SHOULD be far more interested in the Cardano standard including the concepts of reference accounts, programmability of money, and transaction metadata. https://youtu.be/JW6s9Jkyazg
In a video press release yesterday, the Fed finally admitted that it’s moving toward a central bank digital currency (just like every other central bank). This will eventually be impactful on Cardano and every other crypto ecosystem. https://youtu.be/WOAQxpG79Ag
The Treasury is trying to figure out how to get cryptocurrency regulation in a headlock. This will probably go hand-in-hand with the Fed’s March toward a CBDC. Afterall, what good is all the tracking and monitoring afforded by a CBDC if it’s easier for everyone to just use a non-central bank digital currency? Tax evasion in crypto is also obviously a target problem since we know only about 800 people a year paid taxes on crypto in 2013-2015. https://www.cnbc.com/2021/05/20/us-treasury-calls-for-stricter-cryptocurrency-compliance-with-irs.html https://home.treasury.gov/system/files/136/The-American-Families-Plan-Tax-Compliance-Agenda.pdf https://www.businessinsider.com/bitcoin-taxes-overview
Charles has now added the Jack Dorsey edition to his series of “Let’s Educate Crypto Adjacent Celebrities” videos. https://youtu.be/lMZ1xQzWtl4
...and still...KINGS OF THE GITHUB! May our reign never end. https://twitter.com/ProofofGitHub/status/1395771379929255945
Some banks still won’t allow customers to buy crypto with their accounts. In 2021, this is still a thing. https://twitter.com/CryptoCardano_/status/1395933037192437763
Even the Pope is condemning Proof-of-Work? At least, that’s how the crypto community took a recent tweet. https://twitter.com/Pontifex/status/1394993742226939905
Apparently, you can now have your own Stakepool run for you for $122/month in a Stakepool-as-a-Service arrangement. https://twitter.com/ChrisGraff/status/1396169061487333380
If you want to see how the Cardano NFT space has been heating up, you can check out CNFT resale listings at Lovelace Marketplace. https://lovelacemarketplace.io/all-categories/
Ethiopia awards new Telecom license as promised. The winner, a consortium including Vodafone, Safaricom, and Sumitomo; will invest $8 billion in their network in Ethiopia in the next 10 years and will cover the country in 4G. https://www.bloomberg.com/news/articles/2021-05-22/ethiopia-awards-new-telecoms-license-to-vodafone-consortium https://twitter.com/AbiyAhmedAli/status/1396060475184533505
Check out this new infographic explaining how World Mobile Works! https://blog.worldmobile.io/post/how-world-mobile-is-connecting-the-unconnected-infographic/
Cardano hits 1MM wallets! https://twitter.com/Cardano/status/1396331888093061121
Set your calendars! The May Cardano 360 is this Thursday! https://twitter.com/Cardano/status/1396331908632653830
Charles releases a 90 Day Countdown to Alonzo video. https://youtu.be/u6negi1yAQQ
Institutional inflows into Cardano get some coverage by the crypto press. https://cointelegraph.com/news/cardano-sees-largest-weekly-inflows-from-institutional-managers-coinshares
Charles and Kim Dotcom have a conversation about PoW miners possibly fleeing China with all of their hardware. https://twitter.com/KimDotcom/status/1396964996693708801
Cardano gets a little coverage on NBC for it’s energy efficiency. https://www.nbcnews.com/tech/tech-news/cryptocurrency-goes-green-proof-stake-offer-solution-energy-concerns-rcna1030
Plutus Pioneers Lecture #7 is out. https://youtu.be/_EDJt55vOB0
Yesterday was ADA Payday with the end of Epoch 267. I hope everyone made lots of sweet delicious staking rewards! https://adapools.org/epochs
Paypal moving away from the “walled garden” model. This is decentralization teaching the legacy institutions a lesson. https://www.coindesk.com/paypal-will-let-customers-withdraw-crypto-exec-says
Charles is interviewed on Yahoo Finance where he explained: 1) how the lack of an obvious decentralized governance system in ETH and BTC will cripple their efforts as they attempt to scale and the founders/core developers start losing prominence, 2) the ADA EUTXO system is vastly more scaleable with it’s local state being so much more amenable to sharding than ETH’s global state system, 3) Cardano has a high willingness to bring on users in hypergrowth areas like Africa where ETH seems to have little interest, and 4) ETH does not seem to be as highly concerned with interoperability which might become highly valuable in the future. https://twitter.com/YahooFinance/status/1397593275826151424
Cardano 360 is tomorrow. Don’t miss it if you want to hear about all the awesome things happening with Alonzo (smart contracts), Hydra (scalability), and everything else! https://twitter.com/InputOutputHK/status/1397549347592675338
The May Cardano 360 was yesterday and we had lots of updates including the Color Coding for the different stages of the testnet! https://www.youtube.com/watch?v=SS33gRj9JYE
Alonzo “Blue” Era Testnet (through mid June; <50 user cohort) will include the basic functionality of the system for testing basic contracts . Initially the SPOs will be included, then some of the Plutus Pioneers will be allowed in, then a few of the outside development firms (Plutus Partners). The Plutus Partners will be working on specific areas including oracles, DEXs, stablecoins, NFTs, and DeFi. This will produce code and documentation that will be publicly available.
Alonzo “White” Era Testnet (mid June to mid July; <500 user cohort) will add more Plutus Pioneers and more functionality. They will develop various dApps and there will be interaction on the user side of these dApps. They will do some benchmarking at this stage.
The Alonzo Hard Fork Combinator Event requires a lot of different pieces come together at the same time. But, this is not their first rodeo and they have a lot of experience with this from the ITN, Shelley, and etc.
Alonzo “Purple” Era Tesnet (mid July to mid August; fully public) will involve a full public network with all of the Plutus pioneers, the Rosetta Api to the exchanges, Daedalus, hardware wallets, graphQL, and full functionality. The purpose of this phase will be optimization.
Alonzo “Red” Era Tesnet (August; a very short phase) will involve a new network where they can test scalability and stability.
Alonzo “Black” Era Tesnet (August; a very short phase) will be the final public testnet where they will ensure they have their candidate mainnet releases ready to launch on the mainnet.
They are committed to making sure there is a very large group of people who are familiar with using the Alonzo testnet by the time the mainnet launches.
Alonzo Mainnet (August-September). It’s looking like Alonzo mainnet launch was positioned in very late August through September in the infographics. That makes me assume there is a chance of August, much better chance of September, and also some chance of October or later. This is blockchain development after all. Also, we’ve waited years. Why care about a few weeks?
There will be another Plutus Pioneers Cohort later this summer.
Marlowe Run will be a browser product that can run on mobile or desktop. It can be linked to your wallet and be used to run Cardano smart contracts simultaneously on a distributed basis across multiple user browsers. The user interface is light years ahead of anything we saw in Marlowe Meadow or the Marlowe Playground simulations. It will include a library of off-the-shelf contracts.
There will be a Marlowe Webinar on June 3. Register here: https://webinar.marlowe-finance.io/
The ERC-20 converter was looking very intuitive and seamless in the new demo. It should be on the testnet in June.
Manuel Chakravarty gave a big update on Hydra (layer 2 scaling). Hydra will not require that the base layer be modified since it will be implemented via Plutus smart contracts. Hydra is actually a collection of protocols including Hydra Head and Hydra Tail. Hydra Head is a symmetric protocol where multiple participants will be online simultaneously for the whole period of the head exchanging messages. Hydra Tail is an asymmetric protocol involving a high performance server and many clients that may be mobile and could be offline for large portions of the tail’s existence. There will also be “inter head & tail networking” which will allow for a network of heads and tails. They have a published research paper on Hydra Head. They are currently writing the Hydra Tail paper.
Hydra is distinguished from other layer 2 protocols by its isomorphic properties. This means you will be able to run any smart contract that works on the base layer in a Hydra Head! This is very special. We won’t need special purpose contracts built out just for layer 2. There are some big implications to this. Since a Hydra Head is essentially just a Plutus smart contract, this means you can run a Hydra Head inside another Hydra Head. It’s turtles all the way down, guys. It sounds like they can do this iteratively as much as they want.
Aggelos also gave a good presentation on the importance of “skin in the game” in resource based consensus protocols (both proof-of-work and proof-of-stake) and its effect on promotion or discouragement of centralization. He explained how Ouroboros has built-in safeguards to prevent centralization including the K parameter (currently at 500) which caps total rewards per pool and the alpha parameter (currently at 0.3) which splits rewards into a 77% piece and a 23% piece. A pool can take its share of the 77% piece based on the pool’s total stake and its share of the 23% piece based on the pledge of the SPO. A higher alpha parameter makes it less attractive for individual SPOs to proliferate multiple pools since they can’t be as leveraged on their available pledge and still get as big a share of the 23% piece. This also discourages Sybil Attacks. As Cardano on-chain governance progresses, these parameters will be controlled by the community.
There will be a Cardano Goguen Summit in September. It will be hybrid digital/in-person.
Charles is helping to bring the cryptographer who broke SHA-1 to the University of Wyoming. The Cardano funded blockchain lab there could be on the road to be a powerhouse. https://twitter.com/CaitlinLong_/status/1398290866419105802 https://en.wikipedia.org/wiki/Yiqun_Lisa_Yin
We don’t often get to hear from the engineers behind Yoroi over at Emurgo. But, here’s a podcast with Vicente Almonacid from Emurgo. Check out 12:50 where he mentions the dApp Connector (Cardano’s Metamask Equivalent). https://twitter.com/vacuumlabs/status/1397847633696280576
Check out this great article from Cardanians.io on the work being done at the University of Wyoming on a physical chip for transfer of private keys in day-to-day cashlike transactions. https://cardanians.io/en/cardano-can-give-crypto-a-cash-like-experience-58
Professor Aggelos Kiayias recently dropped a video explaining exactly how Mithril (apparently neckbeard dungeon master talk for elf armor) is going to allow for Perfect Cardano (ADA) wallets that combine the ease of use and convenience of light wallets with the trustlessness of full node wallets. We also learned exactly how Mithril is going to work. https://youtu.be/LhepJFCyWRk
In proof-of-work, bootstrapping can be done with blockheaders. This won’t do in proof-of-stake since we need information about stakeholder distribution to confirm block validity.
Mithril fixes this by being a cryptographic construction that enables a population of stakeholders to issue a signature consistent with certain constraints.
For Mithril to work in proof-of-stake, it needs three crucial properties: 1) it needs to enforce a threshold ratio of stakeholders before the signature is issued; 2) the pre-signature fragments must be independently verified and subject to public aggregation; and 3) it must be efficient in the sense that the final signature is of constant size and is logarithmically dependent on the # of stakeholders.
Stakeholders will issue special Mithril keys along with the normal cryptographic key material. Then at regular intervals, full nodes will test whether they can produce a pre-signature fragment. Only a random subset of stakeholders will be eligible to produce a pre-signature fragment. When a sufficient # of pre-signature fragments have been issued by eligible stakeholders then it will be possible to aggregate the fragments into a final signature.
This will be a checkpoint that will be verifiable with respect to previous check points all the way back to the genesis block. Such checkpoints will be cryptographic commitments of the relevant UTXOs.
Since the checkpoints will be trustless, a light client (i.e. wallet) will only need to verify the sequence of checkpoints up to the current time to trustlessly bootstrap.
The ecosystem is growing so fast, it’s hard to keep up with all the projects without these infographics at this point. https://twitter.com/Dr_shwetaPHD/status/1398783893638103040
The Cardano subreddit is at 487k users. Half a million isn’t far away. https://www.reddit.com/r/cardano/
Epoch 268 is a wrap as of yesterday with 22.83 billion ADA staked. https://adapools.org/epochs
Check out the telegram AMA tomorrow with the CEO of World Mobile! https://twitter.com/ZwijBerg/status/1399377659105320962
A very interesting stat on Cardano user growth. https://twitter.com/cex_io/status/1398959088684445699
Don’t forget, the Marlowe webinar is this Thursday! https://twitter.com/InputOutputHK/status/1399444331556225027
More and more people in the youtube sphere are jumping on the Cardano train. https://twitter.com/techleadhd/status/1399398373384351744
Reuters reports on an EU digital identity wallet project. https://www.reuters.com/business/finance/eu-step-up-digital-push-with-digital-identity-wallet-2021-06-01/?taid=60b6e171efd84f0001b64ae1&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter
The U.S. Currently has Issued Sanctions on Ethiopia, but they are not all-encompassing economic sanctions as with rogue nations, they have just barred entry into the U.S. for certain government personnel. https://www.nytimes.com/2021/05/24/world/africa/ethiopia-us-sanctions-tigray.html
Vitalik is saying it’s highly unlikely we see ETH 2.0 before late 2022. I’m guessing that means mid 2023 which will be after two years of Cardano slaughtering the entire ETH user base. Things are looking so bad that Vitalik says he doesn’t even like using the ETH 2.0 label anymore since he knows the changes will be more incremental. This is what early capitulation sounds like guys. https://cointelegraph.com/news/even-vitalik-buterin-is-surprised-at-just-how-long-eth2-is-taking
Cardano-Nervos cross-chain bridge to be built. This would be at least the second cross-chain bridge after the Cardano-AGI bridge. https://www.coindesk.com/cardano-nervos-force-bridge-network-first

~Army of Spies

The black swans of crypto

If you haven’t read Taleb’s book “The black swan” you are missing out on life and investing education. The most powerful concept of this book is how people underestimate highly improbable events and they don’t take them into account when modeling risk. As we have pointed out in the article about Defi Risk people think only in terms of yield. Well, news to all:

There can be no GAIN without PAIN as there can be no PROFIT without RISK

Potential black swans (improbable catastrophic events)

I want to list here a list of events that most don’t think about. This is a list for Bitcoin and Ethereum that are those that can bring the whole market down. If another smaller altcoin dies it’s not such a big deal since you have a diversified portfolio (right?!)

Bugs

Unforeseen bugs (yes even after so many years). Who remembers that Bitcoin actually had to hard fork to fix a very early bug that was catastrophic and made the supply skyrocket? Or when that recent time when Blockstream’s Luke-jr talked about a bug fix that was known in insiders but not outsiders? In Taleb’s book there is a very good example with a turkey that doesn’t know it is being raised in a slaughterhouse. That’s what insider and outsider difference in understanding does. This has not happened only in Bitcoin. The whole Ethereum network dodged a bullet according to the core developer team. This bug was known in developer circles for a long time until the public found out. So let me repeat this:

While you think the networks are running safely and your “investment” or “currency” or “digital gold” or whatever feels safe, there are many people that know that the whole system is hanging from a rotten cloth.

Cryptographic breakthrough

This is possible either with just a breakthrough discovery in current cryptography (advanced mathematics) or by a Quantum computer breaking all SHA-256 and RSA algorithms. We are not very far from that. A breakthrough is almost like a Black Swan, nobody sees it coming until the day a researcher declares “stuff is broken”. This could be much bigger of course because if the blockchain algorithm breaks it means also that SSL breaks and that is also a major event for the internet as a whole.

Hard forks

Every hard fork brings on bug fixes and new features. The latter increase complexity. Increased complexity is more difficult to model for risk. Nobody knows if the next Ethereum hard fork that will bring us closer to PoS will also bring a catastrophic bug. Systems get hardened only by trial and error and hacks. Imagine like there is a new airplane flying for its maiden flight. Would you go on that plane? If not, then don’t hold all your family money in an instrument like that.

Global Regulation

It’s always a scare card in crypto but to date there has been no regulation, only China banning Bitcoin mining and exchange (but not the actual ownership). It can be a major issue though. As we are going through a turbulent meta-pandemic time with a potential hyper-inflation coming according to some the governments maybe will not be very accommodating. If the US Dollar starts to spin downwards from its status as a global currency don’t be mistaken and think the most powerful government in the world will sit and watch a huge wealth transfer into cryptocurrencies. And if you didn’t know they control the FATF global task force for money regulation and KYC. Another fun trivia is that at some point in the history of USA gold was banned in an era similar to ours.

Conclusion

It’s more risky than you think. Everything is. The point is not to avoid investments and risk-taking but to understand the risk you are taking. If you are taking a risk without knowing it you are being the turkey as per Taleb, ready to get slaughtered. If you know the risks, you are the butcher.

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P.S2 removed all the links as the automod keeps deleting the post