Let's Talk Bitcoin! #319 Barnacles of Consensus

09-07 10:15 - 'The wrapped bitcoin (WBTC) can be seen on the Bitcoin blockchain here: [[link]] and you can use [[link]] to get in/out.' by /u/Desperate-Barnacle-4 removed from /r/Bitcoin within 62-72min

The wrapped bitcoin (WBTC) can be seen on the Bitcoin blockchain here: [[link]3 and you can use [[link]4 to get in/out.
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Author: Desperate-Barnacle-4
1: wbtc.ne*wo*k*d*s*bo*rd/*udit 2: *btc.ca*e/ 3: wbtc.n*t*or*/*as*boar**a*dit]^^1 4: wb*c.c**e/]^^*
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03-26 12:04 - 'Introducing Decipher: Beautiful DeFi App Bringing Stablecoin Lending to the Masses' (decipher.financial) by /u/Character-Barnacle removed from /r/Bitcoin within 479-489min

Introducing Decipher: Beautiful DeFi App Bringing Stablecoin Lending to the Masses
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Author: Character-Barnacle
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02-26 06:54 - 'We are a team of graduate students conducting research on the pain points of crypto investing. Please help us by filling out this 1 minute survey!' (self.Bitcoin) by /u/Character-Barnacle removed from /r/Bitcoin within 92-102min

If you've ever conducted research, you know how helpful it is when the community chips in. We are a team of graduate students conducting research on the pain points of crypto investing.
The survey is five questions and should take less than a minute to complete:
Thank you!
We are a team of graduate students conducting research on the pain points of crypto investing. Please help us by filling out this 1 minute survey!
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Author: Character-Barnacle
1: *orms.g*e/*EujjW*Pw*JFq*R*9 2: forms.**e/F*u*jW*Pw*J*qFR*9]^^1
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The hailstorm, the low tide, and the sinking ship (a darknet parable)

Arrrr me mateys! Splice the main-brace! It's saturday night and I've had a tot of rum or two in the local taverns. This old sea dog be a land lubber now, I'm going to tell you a sea shanty from the pirate days of old.
"There once sailed a big ship called HMS Empress. She was a sturdy liner with rich passengers and many fine shops on board. Then one day a violent hailstorm blew in, but the captain thought she had enough coal to weather the storm. But the storm blew on, and on, and the waves were high. Her passengers gradually took to the nearest life raft (a ramshackle Greek-flagged tug called the Apollo, formerly the Olympian) and the shops began to close and the coal grew low. The crew were too busy manning the buckets to serve the passengers."
"Every low tide the Empress struggled to avoid the rocks. The hailstorm blew on. The captain knew the next low tide would sink her, so the great ship was scuttled"
Don't ask me what it means, I don't know. I'm just a barnacle-hulled old sea-salt. Pay no mind to my crazed ramblings.
Anyway, on a completely unrelated note I'd like to tell you about some things I've learned on reddit today and a phenomenon called THE "SILK ROAD TIDE"
Lets take a look at a graph showing the number of confirmed bitcoin transactions on the blockchain per day, over the last year. https://www.blockchain.com/en/charts/n-transactions?timespan=1year
Spikey! But the spikes have a certain regularity to them, don't they? That's the tide going in and out, exactly once a week. But what causes it?
It's caused by drug consumption on Friday night and the lack of postal service on Sunday. People think that bitcoin has gone mainstream, that it's all corporate investors now. But that transaction dip in March coinciding with Dream and Hansa marketplaces closing would suggest otherwise. Bitcoin is still very much drug-driven, causing those 52 weekly "double-sawtooth" spikes. "The Silkroad tide" is a phenomenon first seen in 2011.
It's bitcoin flowing into markets on Monday and out again on Saturday
Drug buyers purchase bitcoin from an exchange on Monday/Tuesday, order their drugs to arrive by Friday, and vendors launder it back to the same exchanges at the weekend ready for it's next exchange/DNM cycle. The bitcoin goes round and round.
What does this mean for a darknet marketplace owner?
Markets fill with bitcoin at the start of the week, but are virtually empty at the weekend. If, say, your marketplace is enduring a hailstorm of DDOS and you have to invest in a new load balancer and mirrors whilst your business is shrinking by the day, those vendor withdrawals at the weekend would bring you close to financial collapse. You try to keep going but those pesky vendors want their earnings. The less they trust you the more they want to get their bitcoin the hell away from your pretend wallets, on Saturday. You try to put them off until Monday by having "downtime" at the weekend, or (like today) you just ignore withdrawal requests altogether.
If YOU were the captain of a marketplace that was getting DDOS'ed back to the stone age, you would give everybody their bitcoin back and close (like Agora and Dream did) so you can make the necessary design changes, wouldn't you? But Dream was only able to give everybody their bitcoin back because it wasn't technically bancrupt. Do you see what I'm getting at?
There have been a few posts today complaining about vendors on Empire cancelling orders. That's because vendors sometimes want to give the appearance of still being open, but they only accept orders if they think a marketplace will survive long enough for them to get paid. They've seen it all before, again and again. We always blame law enforcement, but sometimes darknet marketplaces get put to the sword by their own vendors hint hint
As Cypress Hill said, when the ship goes down you'd better be ready.
To keep this Saturday night party atmosphere going, I'm only answering questions using oblique alagory and the medium of song. Lets have a tune to get us started! Closing-down sale wooooooooo! https://www.youtube.com/watch?v=PKrxnvRp2as
submitted by Vendor_BBMC to darknet [link] [comments]

[Monday, March 5 2018] North Korea made as much as $200 million from Bitcoin; study confirmed world’s last breeding population of leopards in Cambodia is at immediate risk of extinction; A sun-like star 150 light-years away has 6 gas giants orbiting it, with 2 in the habitable zone





    Shaquem Griffin was born with amniotic band syndrome affecting his left hand. At age four, his mother found him in the kitchen, attempting to use a butcher's knife to self-amputate his fingers due to the pain. He is currently breaking records at the NFL combine.
    Comments || Link


  • mvea
    [Title Post] Cambodia’s Last Leopards on Brink of Extinction - A new study has confirmed that the world’s last breeding population of leopards in Cambodia is at immediate risk of extinction, having declined 72% during a five-year period. The population represents the last remaining leopards in eastern Indochina.
    Comments || Link



  • mvea
    SpaceX confirms plan to activate South Texas launch site in late 2018
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  • mvea
    Nanobots kill off cancerous tumours as fiction becomes reality - Researchers inject tiny devices into the bloodstream to deliver drugs with precision
    Comments || Link


  • mmm_toasty
    Why do grapefruits and grapefruit juice interact so much with so many types of medications?


  • theukmoody
    What profession was once highly respected, but is now a complete joke?


  • Travisto888
    I'm a dad who quit his job 3 years ago to make board games. My wife and I have now made over $1 million in revenue. AMA!


  • RaymondLamar10
    TIL Before he was a famous musician Johnny Cash was a military code breaker for the US Air Force. He worked as a as a Morse Intercept Operator in Germany, handling the hardest jobs, intercepting Russian intelligence & deciphering code transmissions. He copied the 1st news of Stalin’s death.
    Comments || Link
  • Randamvaravu
    TIL Jim Becker, a Packers fan hall-of-famer, routinely sold his blood to buy season tickets, which inadvertently saved his life when he was found to have Hemochromatosis, a genetic disorder that leads to toxic iron deposition in the body, and an early death. The only treatment is bloodletting.
    Comments || Link
  • Hdalby33
    TIL in 2016 a group of hackers almost stole $1 billion from the New York Federal Reserve, but were discovered when they spelled “foundation” as “fandation” in money request transcripts. They still managed to get away with $81 million.
    Comments || Link



  • thebigsexy1
    High School heavyweight Gable Steveson celebrates his 4th Minnesota state wrestling championship with some amazing acrobatics for a 260 pound athlete
    Comments || Link












  • emeksv
    This is my favorite shot I've ever taken in Glacier National Park. [OC][2560*1707]
    Comments || Link




  • Phunkstar
    Norwegian Elkhound pupper tired of pulling while cross country skiing. "U pull me now."
    Comments || Link

Something New

Everyday we’ll feature a selected small subreddit and its top content. It's a fun way to include and celebrate smaller subreddits.

Today's subreddit is...


Its top 3 all time posts
submitted by kaunis to tldr [link] [comments]

Dank Irony

You fucking imbecile piece of human scum, you live like a fucking barnacle leaching from the bottom of society, filth like you should not be allowed to exist. I am using an extremely intellectual form of humor known as "Dank Irony", birthed from the womb of Albert Einstein, perfected in the hands of Mahatma Gandhi; only those with an intellect far beyond that of the average man can understand a sentiment made from the workings of such a superior form of comedy. You dare mock me you fucking pig, I’ll have you put down like the dog you are. I have 20 Bitcoins and I’m not afraid to hire a fucking hitman you little bitch.
submitted by runner3600 to copypasta [link] [comments]

HSBC limits some deposit withdrawals due to anti-money laundering legislation. Worldnews interprets it differently.

OP: Bank refuses to give customers their money, unless they tell it why they want it.
So the story is HSBC, a bank, imposed restrictions on "some" customers from withdrawing large amounts of cash unless they could provide reasons for why they were doing it. This is part of a preannounced scheme to improve their know your customer programme after some money laundering breaches in the past. There is a lot of anti-money laundering legislation (Proceeds of Crime Act 2002, Terrorism Act 2000, Money Laundering Regulations 2007 and Counter Terrorism Act 2008 - I recently had an exam on all of these, so appreciate how much there is) and so HSBC tightening their policies is no surprise. Nonetheless, these rules shouldn't really affect retail customers withdrawing relatively small amounts, and HSBC soon put out a statement adjusting their rules, as the article highlights.
However, following feedback, we are immediately updating guidance to our customer facing staff to reiterate that it is not mandatory for customers to provide documentary evidence for large cash withdrawals, and on its own, failure to show evidence is not a reason to refuse a withdrawal.
So a bank tightens up their anti-money laundering policy, makes it too strict which affects a few UK customers which it quickly corrects. Fairly mild in the scheme of things.
But this explanation is far too simple for /worldnews! Instead we get a 4000+ reply thread on redditors own views of the story.
Too bad you can't call the cops when a bank is stealing from you.
So straight in with one of top rated comments right there, and straight into the arrest the banksters jerk.
If a bank refused to give me my money I would first make sure there were plenty of people in the lobby, then I would call the police, and if that didn't work I would call the local news.
If this situation happened to brave redditors, they wouldn't comply and give a reason for their deposit, but rather call the police and local news!
This is the bank hit with a 2 billion$ "fine" for money laundering. I wish every one of their customers would close their accounts and sink those bastards.
Wishing on a bank run, because those work out so well for the financial system and the global economy.
Fucking. Seriously.
Stop supporting banks who support drug cartels and terrorism.
I bet the drug cartels didn't get asked what their withdrawals were for.
Of course, we have to ask regular, law abiding customers what they're doing with their money to "protect" them.
Fucking ludicrous.
So true HSBC missed some money laundering in the past and got caught out on it, but this isn't = actively supporting drug cartels and terrorism.
True story: A friend of mine started an e-cigarette business in the UK right in the early days of e-cigs. He started small but was making huge sums of money very quickly. Amounts like 100,000 GBP a week at one stage. HSBC froze his account, alerted the money laundering authorities and would not tell him why they had frozen his account.
Anecdotal evidence time. A friend's business makes £100,000 a week (i.e. over £5m a year) from selling cigarettes. Given this is exactly the mechanism through which money is typically laundered, it's not really a surprise that HSBC caught on to it and the legislation makes it illegal to tell someone they're under investigation (unless you want up to 5 years jail time). Redditors are not impressed however:
That said, using a personal account like that for a business is a stupid idea. Banks are required to check for dodgy things (why they got fucked for money laundering), if they think you're still doing X job and you suddenly pulling in £100,000/week they're going to be curious.
First the exception, logic! +68, so a few upvotes, but this is nothing compared to:
Thank you, UK, for making the USA seem slightly less fucked up, relatively speaking, of course.
This is seriously fucked-up. It's like something out of a dystopian sci-fi novel. The banks not only use my money after I deposit it with them, but now are acting like they own it, and I'll need to explain myself to them like a child asking mummy for pocket-money before they fork it over. What in the name of fuck is wrong with this world? These people need to be removed from the equation.
Obligatory 1984/dystopia/"these people need to be removed from the equation" comment. +629.
How. The fuck. Is this not a change of the terms and conditions under which your customers have an account? You literally added a condition that has to be met to withdraw money. What the cunting barnacles constitutes a change in the terms and conditions then?!
Obviously this redditor is a legal expert, calls out those "cunting barnacles". Negates the fact that all this was probably in your terms and agreements when you opened an account.
Yea... time to take all of your money out while you still can. They could simply refuse to give out peoples entire life savings. Scary.
Another 'get all your money out while you can' comment. Buy bitcoins instead, obviously.
the nerve !!
I really hope in the future bitcoin or some other cryptocoin takes over
And on that note!
And this is why alt currencies like bitcoin are gaining in popularity
And these are the very guys that can't see how a cryptocurrency such as bitcoin would ever work.
Time to put your money into Bitcoin and Litecoin!
Remember that time Bitcoin wouldn't let people move their money... Oh wait... Never happened!
So there we have it. This is my first post in this subreddit, but I thought from a relatively vague article that talks about a 'some' customers in the UK being affected by legislation that has been place for years, the amount of jerking is unbelievable. Very few people call this out, there are more mentions of 'bitcoin' than 'money laundering', and there were about 100 comments that varied on 'I'm closing my account'. Sensationalism? /worldnews people.
submitted by Polymatheia to circlebroke [link] [comments]

I've read the Getting started and I'm still completely lost; I don't know what guides to trust from YouTube and I just want to try mining.

I have an HD 7950, which I use in my gaming computer and I just want to test bitcoin mining to see whether it would be of any benefit to me.
I've read everything on the Getting Started page but there's really not any information on it, I've flicked through some YouTube videos but none of them look very reliable - the only one I know to be reliable is Barnacles', but it's a bit old now and the reason my interest was even roused was because of 'Ethereum' mining, which I understand is some sort of algorithm which has made GPUs competitive in bitcoin mining again, which is against what his whole video was about.
I just want a straightforward guide which is trustworthy and tells me how I can make some bitcoins and store them on my computer and then how to sell them. I used the Bitcoin profit calculator and it said I wouldn't make money, but I understand that that is based on the idea I'd be doing it solo without a mining pool.
I just need guidance, there is so little useful information out there.
submitted by Pyroven to Bitcoin [link] [comments]

What do you need to get started with bitcoin mining?

Hay guys! I have always thought the idea of bitcoin mining is cool(Ever since I watched a YouTube named Barnacles Nerdgasum start it)
I would really like to start mining and I am willing to invest some money into it, but I am not really sure where to start. Like what all do I need to do it?
Like I said, I am willing to invest some money in buying equipment, but I do want to make sure I make a return / profit from this as well.
submitted by MrMonteCristo to BitcoinMining [link] [comments]

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