How To Use Bitcoin – The Most Important Creation In The History Of Man

Discussion in 'General Discussion' started by Anonymous, Jun 1, 2011.

  1. The Wrong Guy Member

    Bitcoin promoter pleads guilty to unlicensed use of currency | Reuters

    A man who helped to promote bitcoin wants to remain in the business despite pleading guilty Thursday to indirectly helping send more than $1 million in the digital currency to users of the illicit online marketplace Silk Road, his lawyer said.

    Charlie Shrem, 24, pleaded guilty at a hearing in New York federal court to one count of aiding and abetting an unlicensed money transmitting business.

    A co-conspirator, Robert Faiella, 54, separately pleaded guilty to operating such a business. Both men face up to five years in prison when they appear again in court in January.

    "I knew that much of the business on Silk Road involved the buying and selling of narcotics," Shrem said in court. "I knew that what I was doing was wrong."

    His lawyer, Marc Agnifilo, said that what Shrem did was an aberration and that Shrem plans to continue working in the bitcoin world if possible. Agnifilo emphasized that his client was not involved in directly supplying bitcoin to Silk Road users.

    "We believe he is at least one step more removed from the heartland of illegal conduct, which is really Silk Road," the lawyer said.

    The two pleaded guilty as part of a deal struck with prosecutors from the office of Manhattan U.S. Attorney Preet Bharara. They had been scheduled to go on trial Sept. 22.

    U.S. authorities shut down Silk Road last year, though a new version bearing the same name was launched soon thereafter. The man accused of creating and operating Silk Road using the alias "Dread Pirate Roberts," Ross William Ulbricht, is facing separate charges and is scheduled for trial in November.

    Shrem stepped down from his post as vice chairman of the Bitcoin Foundation, a trade group, soon after his arrest in January. He was previously the chief executive of BitInstant, a bitcoin exchange company.

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  2. The Internet Member

    Cryonics. Promising dead people you are going to keep their bodies at -196 degrees indefinitely. That is like selling someone a Bridge to Total Freedom. I mean, looks like a scam from miles away.

    Maybe if you could sniff all the dead people to see if any of them have freezer burn, maybe then it might be kinda legit. Like people are making a sincere effort to do something useless and probably impossible.
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  3. DeathHamster Member

    The hope/scam is that maybe there will be cure for freezer burn in the future.
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  4. tinfoilhatter Member

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  5. DeathHamster Member

    Then dead people stay dead.
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  6. The Wrong Guy Member

    Someone’s Threatening to Expose Bitcoin Founder Satoshi Nakamoto | WIRED

    Someone has taken over the email account belonging to Bitcoin’s secretive creator, Satoshi Nakamoto, and says he will sell his secrets for money.

    The hacker, who told WIRED his name is “Jeffrey” claims to have also obtained information on Nakamoto that could be used to unmask his identity. Jeffrey didn’t tell us much, but when we asked him how he managed to take control over the email address that Nakamoto had used for some of his correspondence, he wrote, “The fool used a primary gmx under his full name and had aliases set up underneath it. He’s also alive.”

    In a Pastebin post, Jeffrey said he will release Satoshi’s secrets if someone pays 25 bitcoins — about $12,000 to his bitcoin address. He says he has email messages dating back to 2011.

    Jeffrey wouldn’t say how he took over Nakamoto’s account and he didn’t respond to many of our questions. But it looks like he leveraged the address to take over other Nakamoto accounts. One was used Monday to post a message to the P2P Foundation website. Another to deface an old bitcoin developer page on the Sourceforge open-source coding site.

    In his P2P Foundation message, Jeffrey claimed that information about Nakamoto was already being sold online. “Apparently you didn’t configure Tor properly and your IP leaked when you used your email account sometime in 2010. You are not safe. You need to get out of where you are as soon as possible before these people harm you.”

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  7. The Wrong Guy Member

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  8. The Wrong Guy Member

    FBI arrests Blake “Defcon” Benthall, alleged operator of Silk Road 2.0 | Ars Technica

    The FBI announced that yesterday it arrested Blake Benthall, aka "Defcon," the alleged owner and operator of Silk Road 2.0. Benthall was apprehended in San Francisco and will be presented today in a federal court in SF before Magistrate Judge Jaqueline Scott Corley.

    “As alleged, Blake Benthall attempted to resurrect Silk Road, a secret website that law enforcement seized last year, by running Silk Road 2.0, a nearly identical criminal enterprise," Manhattan US Attorney Preet Bharara said in a statement. "Let’s be clear — this Silk Road, in whatever form, is the road to prison. Those looking to follow in the footsteps of alleged cybercriminals should understand that we will return as many times as necessary to shut down noxious online criminal bazaars. We don’t get tired.”

    The arrest comes roughly a year after the feds arrested Ross Ulbricht, the alleged original "Dread Pirate Roberts" and operator of Silk Road 1.0. According to the FBI, Benthall is being charged with "one count of conspiring to commit narcotics trafficking, which carries a maximum sentence of life in prison and a mandatory minimum sentence of 10 years in prison; one count of conspiring to commit computer hacking, which carries a maximum sentence of five years in prison; one count of conspiring to traffic in fraudulent identification documents, which carries a maximum sentence of 15 years in prison; and one count of money laundering conspiracy, which carries a maximum sentence of 20 years in prison."

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  9. The Wrong Guy Member

    Huge raid to shut down 400-plus dark net sites | BBC News

    Silk Road 2.0 and 400 other sites believed to be selling illegal items including drugs and weapons have been shut down. The sites operated on the Tor network - a part of the internet unreachable via traditional search engines.

    The joint operation between 16 European countries and the US saw 17 arrests, including Blake Benthall who is said to be behind Silk Road 2.0. Experts believe the shutdown represents a breakthrough for fighting cybercrime.

    Six Britons were also arrested, including a 20-year-old man from Liverpool, a 19-year-old man from New Waltham, a 30 year-old-man from Cleethorpes and a man and woman, both aged 58, from Aberdovey, Wales. All were interviewed and bailed according to the National Crime Agency.

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  10. The Wrong Guy Member

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  11. The Wrong Guy Member

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  12. Anonymous Member

    An interesting article but a shame that the author doesn't realize that the plural of alley is "alleys" not "allies."

    People also value their safety and freedom. So, when the state declares its “War on Drugs,” pushing the market for these substances into dark allies and crime ridden areas, demand wins out. The demand for safety and freedom of choice coupled with the internet, laid the groundwork for a mutually beneficial black market-based solution.

    Now that these more peaceful channels of exchange have been taken down by the state, demand will certainly not go away. The supply chain will simply shift back into the dark allies, thus proliferating and sustaining the criminal aspect of the black market.
  13. Hugh Bris Member

    that's your criticism? He mispelled (hehehe) a word? I'm as big a grammar nazi as they get, yet I find that somewhat petty...why not just drop him a line and let him know. He may appreciate the correction.

    Now, what about what he said. Do you agree that drugs laws are destructive?
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  14. Anonymous Member

    I regard the article as conceptually very sound and thoughtful with an interesting perspective. And yes, the legislation making drug-use unlawful is appalling.

    The homophone fail startled me, in such an otherwise well-crafted article.

    I did search for a way to make direct contact with the author, but found nothing that I was willing to use.
  15. Hugh Bris Member

    I'm wondering if it was the Cupertino Effect
  16. muldrake Member

    "Allies" has been used correctly as a plural for alley, although it has fallen out of vogue this century. I think it's particularly bad here, though, because it would be very easy to confuse it for the plural of "ally" given the context.
  17. Anonymous Member

    That is precisely the reason that the spelling bothered me.

    However, I did find a way to make contact with the Author, Matt Agorist and mention the spelling.

    Matt thanked me for the advice, and made the corrections.
  18. Anonymous Member

    Could be.

    The author made this comment when I pointed to the spelling mistakes:

    "Much appreciate the tip. Spell-check can be a son of a fun sometimes."
  19. The Wrong Guy Member

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  20. The Wrong Guy Member

    Bitcoin slump belied by Circle’s hire of JP Morgan alum

    Bitcoin is passé to many in the tech world these days, but Circle didn’t get the memo: the virtual currency firm is plowing ahead with its outsize ambitions to integrate virtual currency into the global banking system.

    On Thursday, Circle announced the hiring of Paul Camp, a big name in finance circles to be its Chief Financial Officer. The move is significant since Camp’s resume includes building out the world’s biggest euro settlement platform at Deutsche Bank and, until July, running JP Morgan’s $3.4 billion transactions services shop, which provides payment infrastructure to banks and corporations.

    The upshot is that a global finance bigwig thinks that bitcoin is ready for primetime — or, perhaps, that Circle paid him enough to make him believe that he does.

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  21. The Wrong Guy Member

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  22. The Wrong Guy Member

    Hackers Steal $5 Million in Bitcoin

    Bitstamp announced the breach of a European Bitcoin exchange on Monday and temporarily shut down services to investigate the attack. Around 19,000 Bitcoin ($5.1 million) was stolen by the hackers, but Bitstamp CEO Nejc Kodric assured users that most Bitstamp data is in “cold files” or offline data.
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  23. The Wrong Guy Member

    'Silk Road Reloaded' Just Launched on a Network More Secret than Tor | Motherboard

    A new anonymous online drug market has emerged, but instead of using the now infamous Tor network, it uses the little known "I2P" alternative.

    "Silk Road Reload​ed" launched today, and is only accessible by downloading the special I2P software, or by configuring your computer in a certain way to connect to I2P web pages, called 'eepsites', and which end in the suffix .i2p.
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  24. The Wrong Guy Member

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  25. The Wrong Guy Member

    Undercover Agent Reveals How He Helped The FBI Trap Silk Road's Ross Ulbricht | WIRED

    By Andy Greenberg

    Nothing about the identification and arrest of Ross Ulbricht in the science fiction section of a San Franciso public library in October of 2013 was left to chance. When the FBI grabbed his laptop and put him in cuffs, the prosecution in Ulbricht’s case has said he was chatting online with an undercover agent who had infiltrated the staff of Silk Road, the massive online drug market Ulbricht is accused of creating. Now that undercover agent has told his story for the first time. And he’s revealed that just before his fateful conversation with Silk Road’s kingpin, he had been watching Ulbricht from less than a block away.

    Here's the author on Twitter:
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  26. The Wrong Guy Member

    Defense bombshell in Silk Road trial: Mt. Gox owner “set up” Ulbricht | Ars Technica

    After the lunch break Thursday in the Silk Road trial, defendant Ross Ulbricht took off his jacket. Minutes later, his lawyer Joshua Dratel took off the gloves.

    In just over an hour of staccato cross-examination, Dratel's strategy became clear: he was going to pursue a line of questioning suggesting that the man who really controlled Silk Road wasn't his young client, but Mark Karpeles, the wealthy former owner of the Mt. Gox Bitcoin exchange.

    If Karpeles could use Silk Road, a free-wheeling drug market, to jack up the price of bitcoin, he could become incredibly rich. It was a currency he had more invested in than anyone else. Until it was shut down, the great majority of bitcoin trades went through his Mt. Gox currency exchange.

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  27. The Wrong Guy Member

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  28. The Wrong Guy Member

    Coinbase Opens First Licensed Bitcoin Exchange in the US | WIRED

    San Francisco bitcoin startup Coinbase has opened what it calls the country’s first licensed bitcoin exchange.

    “With this launch,” reads a blog post from the company, “our goal is to bring increased stability to the bitcoin ecosystem.”

    Coinbase already offered what amounted to an online bitcoin exchange, a service that let you trade the digital currency for dollars and other fiat currencies. But the new Coinbase Exchange represents a much wider effort to bring added legitimacy to bitcoin, a system that has often operated outside of government regulations. Last week, Cameron and Tyler Winklevoss announced a regulated exchange in New York called Gemini.

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  29. The Wrong Guy Member

    Investigators Used a Simple Google Search to Link Ross Ulbricht to Silk Road | VICE News

    Last week, prosecutors outlined in painstaking detail a collection of chat logs, journals, and expense reports found on Ross Ulbricht's laptop that allegedly prove he was the mastermind behind the dark web site Silk Road. But jurors in the case still had no idea how federal investigators came to suspect Ulbricht in the first place.

    On Monday, the court found out: The feds used Google.

    After nearly two years of federal investigations into the site — which prosecutors allege facilitated $1.2 billion in sales, mostly of illicit drugs — IRS special agent Gary Alford decided to try finding early traces of it on the open web.

    Alford testified Monday that in June 2013 he was "looking for the first mentions of the Silk Road website on the internet," dated prior to its launch in February 2011. Someone "would have to tell you about it," and "where to go on the hidden internet," Alford reasoned.

    The agent entered "'silk road' .onion" into Google, using the site extension for the Tor network that Silk Road utilized, along with bitcoin, to maintain user anonymity. One result caught his eye — a post on that quoted a since-deleted message dated January 29, 2011, written by a user called "Altoid."

    "Has anyone seen the Silk Road yet?" Altoid asked, linking to a web page on that explained how to access the marketplace via Tor. "It's kind of an anonymous I don't think they have heroin on there, but they are selling other stuff," the user wrote.

    Alford clicked on Altoid's profile and found more posts. In October 2011, the user posted a job listing on the cryptocurrency-focused forum. "I'm looking for the best and brightest IT pro in the bitcoin community to be the lead developer in a venture-backed bitcoin startup company," the message said.

    "If interested, please send your answers to the following questions to rossulbricht at gmail dot com."

    With three clicks, Alford had his man.

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  30. The Wrong Guy Member

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  31. The Wrong Guy Member

    Accused Silk Road operator never abandoned website, U.S. tells jury | Reuters

    A U.S. prosecutor sought on Tuesday to dissuade jurors from believing that the man who created the underground website Silk Road and is facing drug trafficking charges abandoned the venture long before it was shut down.

    Ross Ulbricht, who is on trial in Manhattan federal court, has acknowledged creating Silk Road, where drugs and other goods could be bought with bitcoins. But his lawyer said he sold the website and was the victim of a set-up by its actual operator.

    During closing arguments, a prosecutor called that claim "absurd" in light of the "mountain of evidence" seized from Silk Road servers and Ulbricht's laptop showing he ran the website from start to finish, using the alias Dread Pirate Roberts.

    "He built it, he grew it, he operated it from start to bottom until the end, when he was arrested logged into the website as its mastermind," said the prosecutor, Serrin Turner.

    But Joshua Dratel, Ulbricht's lawyer, said files linking the defendant to the website were planted through hacking by the real Dread Pirate Roberts, who lured him back in at the end.

    "It was easy to reconstruct this in a way that would frame Mr. Ulbricht," Dratel said.

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    Silk Road trial updates from Ars Technica can be found here:
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  32. The Wrong Guy Member

    Ross Ulbricht Didn't Create Silk Road's Dread Pirate Roberts. This Guy Did | WIRED

    More than 14 months after his arrest, Ross Ulbricht has been convicted of being the Dread Pirate Roberts, the masked figure who ran the Silk Road’s unprecedented online supermarket for drugs. But the man who first created that mask—and in many ways served as Silk Road’s mastermind just as much as Ulbricht—remains a mysterious figure, and one who by all appearances walked away unscathed from his involvement in the Silk Road’s billion-dollar drug operation.

    As Ulbricht’s trial unfolded over the last month, one character appeared again and again in the chat logs prosecutors pulled from the laptop seized from Ulbricht at the time of his arrest: a man calling himself Variety Jones, and later, Cimon.
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  33. rof Member
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  34. The Wrong Guy Member

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  35. rof Member

  36. The Wrong Guy Member

    Darknet "Evolution Market" Goes Down, Admins Steal All Funds | Animal New York

    Evolution Market, the darknet black market site that sold everything from stolen credit cards to hard drugs, is gone. The site won’t load, and all the bitcoins are gone as well. Evolution staff members announced the pseudonymous administrators “Kimble” and “Verto” have taken all the bitcoins and run. Many merchants and buyers are despairing, and the merchants are reckoning that there were 12 million USD worth of bitcoins stolen.

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    Deep Web Drug Market Disappeared suddenly Overnight, $12 Million in Bitcoin Missing | Hacker News

    The largest Deep Web drugs marketplace disappeared suddenly overnight from the Internet. But unlike Silk Road, there is no indication that the law enforcement took down the Evolution marketplace.

    The Darknet’s most popular markets for drugs and bespoke carjacking services is mysteriously offline Wednesday with rumours circulating over the Internet that its own administrators may have just scammed its huge user base and stole $12 Millions in Bitcoin.

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    Drug Dealers and Drug Users Just Got Swindled Out of £8m by the Internet's Biggest Illegal Marketplace | Vice UK

    The Dark Web's Top Drug Market, Evolution, Just Vanished | Wired

    One of the Darknet’s Biggest Markets May Have Just Stolen All Its Users' Bitcoin | Motherboard

    Darknet Market Evolution Unreachable, Funds Stolen | CryptoCoinsNews
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  37. Kilia Member

    Sorry guys, but I would NEVER use Bitcoin.
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  38. The Wrong Guy Member

    First bitcoin-based security starts trading on Nasdaq Stockholm | RT Business

    Bitcoin Tracker One (BTO), the first tracker certificate that uses the bitcoin digital currency as the underlying asset, started trading at Nasdaq Stockholm Monday. This gives the opportunity to invest in bitcoin without holding the coins themselves. It will also be a way to get access to the returns of the underlying asset, US dollar per bitcoin, with less investor fees.

    BTO is the world’s first “bitcoin tracker” to be traded on a regulated exchange.The bitcoin’s underlying blockchain technology will be used by the Nasdaq OMX group to facilitate the trading of shares on its US stock market.

    The security was launched by XBT Provider AB in April and will be traded in Swedish krona (SEK). The provider is the part of the KNC Group, the global technology leader in the bitcoin space.

    The launch of BTO trading could be a head start on other exchanges around the world using similar bitcoin-based securities, said financial experts in Sweden.

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  39. The Wrong Guy Member

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  40. The Wrong Guy Member

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