Bitcoin ATM Near Me - View the Locations on the Map

What do you look for in a Bitcoin ATM?

Started seeing some bitcoin ATMs in local stores. The machines were from different companies and had different fees. Which made me wonder what goes into people's decision on what machine to use.
Is mostly just how much the fee is? Also I was checking coinatmradar and most of the machines around me do not have the fees posted online so how do you know your getting a good fee?
Do you consider other things:
- Location (is it near me)
- Company (maybe one company is more trusted than another, better customer service)
- How much ID you need at the machine (upto $1000 with sms versus unto $1500)
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NEW Pay Depot Bitcoin ATMs at Home Town Market - NJ

NEW Pay Depot Bitcoin ATMs at Home Town Market - NJ
NEW Pay Depot Bitcoin ATMs at Home Town Market - NJ
Check out Home Town Market to get the lowest possible transaction fees when you buy or sell your cryptocurrency with Pay Depot.
Bitcoin ATMs at Home Town Market - NJ LOCATIONS:
1000 Route 70,Lakewood,NJ 08701
Google Map Link:https://www.google.com/maps/d/edit?mid=1L09DOXJsuTeF9QE5uU2VEBVsJndDzfg0&usp=sharing
https://i.redd.it/golhv103hdn51.gif
For Support, You can Email us [[email protected]](mailto:[email protected])
Price = Current market price
Limit = $800/$3000 Daily
ID: Required for Purchases over $800
-------------------------------------------------------------
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To Get the Latest Location and Promotional Event Newshttps://paydepot.com/map
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[ Bitcoin ] NEW 1 Pay Depot Bitcoin ATMs at Home Town Market - New Jersey

[ 🔴 DELETED 🔴 ] Topic originally posted in Bitcoin by PayDepot [link]
NEW Pay Depot Bitcoin ATMs at Home Town Market - New Jersey
Check out Home Town Market to get the lowest possible transaction fees when you buy or sell your cryptocurrency with Pay Depot.
Bitcoin ATMs at Home Town Market in New Jersey LOCATIONS LIST:
1000 Route 70, Lakewood, NJ 08701
Google Map Link: https://www.google.com/maps/d/edit?mid=1jYSOlrmndtbeOL43qGUzqJwoBcS27pYF&usp=sharing
https://i.redd.it/zuptew7gd7i51.gif
For Support, You can Email us [[email protected]](mailto:[email protected])
Price = Current market price
Limit = $800/$3000 Daily
ID: Required for Purchases over $800
-------------------------------------------------------------
FOLLOW US
https://twitter.com/ATM_Near_Me
or
https://www.facebook.com/ATM.Bitcoin
To Get the Latest Location and Promotional Event News https://paydepot.com
PayDepot your post has been copied because one or more comments in this topic have been removed. This copy will preserve unmoderated topic. If you would like to opt-out, please send a message using [this link].
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08-21 13:56 - 'NEW 1 Pay Depot Bitcoin ATMs at Home Town Market - New Jersey' (self.Bitcoin) by /u/PayDepot removed from /r/Bitcoin within 1141-1151min

'''
NEW Pay Depot Bitcoin ATMs at Home Town Market - New Jersey
Check out Home Town Market to get the lowest possible transaction fees when you buy or sell your cryptocurrency with Pay Depot.
Bitcoin ATMs at Home Town Market in New Jersey LOCATIONS LIST:
[1000 Route 70, Lakewood, NJ 08701]1
Google Map Link: [[link]7
[link]8
For Support, You can Email us [[email protected]]3
Price = Current market price
Limit = $800/$3000 Daily
ID: Required for Purchases over $800
-------------------------------------------------------------
FOLLOW US
[[link]9
or
[[link]10
To Get the Latest Location and Promotional Event News [[link]11
'''
NEW 1 Pay Depot Bitcoin ATMs at Home Town Market - New Jersey
Go1dfish undelete link
unreddit undelete link
Author: PayDepot
1: www.go*gl*.com/m*ps/d/*dit?mid***YSO****dtbeO*43q*UzqJwoBc**7*YF*amp;usp=*h*ri*g 2: *ww*g**gl*.com/*aps/d/ed*t?m*d*1jYSOlrmndtbe*L43*GUzqJwoBc*27***&*usp=s***i*g 3: mailto:[email protected] 4: t*itter*co*/A*M_*ear*Me 5: **w*facebook.com*A*M*Bitco*n 6: p*ydep*t.com* 7: *ww*goo**e.com/ma*s/d*e*it?*i*=1j*S*lrmnd**eOL4*qGU*qJwoBcS27*YF*amp*usp=sha*ing]**2 8: *.*edd*it/z*p*ew7gd7i5*.gi* 9: tw*tt**.com/AT*\*Near\_Me]^** 10: *ww.f*cebook.co*/ATM**i***in]^^5 11: *ay*e*ot.c*m]^^6
Unknown links are censored to prevent spreading illicit content.
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NEW Pay Depot Bitcoin ATMs at Home Town Market - NJ

NEW Pay Depot Bitcoin ATMs at Home Town Market - NJ
NEW Pay Depot Bitcoin ATMs at Home Town Market - New Jersey
Check out Home Town Market to get the lowest possible transaction fees when you buy or sell your cryptocurrency with Pay Depot.
Bitcoin ATMs at Home Town Market in New Jersey LOCATIONS LIST:
1000 Route 70, Lakewood, NJ 08701
Google Map Link: https://www.google.com/maps/d/edit?mid=1jYSOlrmndtbeOL43qGUzqJwoBcS27pYF&usp=sharing

https://reddit.com/link/ibjumf/video/lk3va913vlh51/player
For Support, You can Email us [[email protected]](mailto:[email protected])
Price = Current market price
Limit = $800/$3000 Daily
ID: Required for Purchases over $800
-------------------------------------------------------------
FOLLOW US
https://twitter.com/ATM_Near_Me
or
https://www.facebook.com/ATM.Bitcoin
To Get the Latest Location and Promotional Event News https://paydepot.com
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Don't make the same mistake I did!

Long time lurker, first time poster and understand that I will get scolded by some of you. Either way, from a series of unfortunate events, I happen to come across a little bit of cash so I decided to buy and hodl at least two BTC. Coinbase only allowed me to purchase $1000 a day and has a 20 day holding period before I could transfer into my wallet (I've read a few horror stories about people losing their BTC letting them sit in exchanges so I wanted it transferred immediately) and I didn't research as to how I could initiate a wire transfer. Filled with excitement, l looked for the closest BTC ATMs near me and just made my first deposit of $5000 at a Bitcoin Depot ATM with doing very little research regarding the fees associated with using a BTC ATM. Their exchange rate had a BTC priced at $7,629. I just gave away $1,300 from my impulse. Rant over. Let me hear it!
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WSB101 - THE BOOK OF YOLO: BEGINNERS GUIDE TO TRADING LIKE A DEGENERATE AND EVERYTHING WSB

The Book of Yolo: COMPLETE GUIDE TO WSB
The goal of this is to actually create something that all of you WSB newbies can read - because we’re all tired of seeing the endless wave of uninformed and unavoidable stupidity from those who have never touched the stock market. CALLING ALL NEWFAGS AND NORMIES.
If you can’t read, GFY now.
Now that we will be on the popular section of reddit, this has become pertinent. WSB can't avoid newcomers, so we might as well explain how the clock ticks here. This one is for you all.
This is to serve as a reference what values we hold, what instruments we use, and as a general place to educated the uneducated.
First off, this is the LEAST helpful stock market-based community for newcomers. Sarcastic answers are the only thing of true value here. It isn't a place to learn, but a place to plan out where you will dock your yacht. Newcomers are usually berated upon asking the inevitable stupid questions that they could learn slowly from reading here, or just using a damn search engine. Instead of embarrassing yourself here, you now have the opportunity to read this and get what we’re all rambling about.
This will help you understand what to expect if you make the decision to undertake a WSB style trading career, so you can stay here and contribute to the yolo lifestyle or otherwise GFY.
I will edit in any suggestions that our frequenting users or mods want to add to this as well.
To begin: Here are our topics for WSB101
-Basics (Equities/Stocks)
;
-ETF's
;
-Options
;
-Futures Trading
;
-SubCulture
;
BASICS/EQUTIES Skip if you understand basic stock stuff
Okay, so what is an equity/stock? An equity is essentially what you’d think of as your “vanilla” trading tool. They move up or down depending on market forces, and can range from pennies to thousands of dollars per share. To explain how stocks work, let's define a few terms.
Volume: The number of shares of stock traded during a particular time period, normally measured in average daily trading volume.
Spread: The difference between the bid and the ask price
Bid Price: The current price in which someone wants to buy at
Ask Price:The current price in which someone wants to sell at
Volatility: The WSB favorite. Volatility is referring to the price movements of a stock as a whole. The higher the volatility, the more the stock is moving up or down. Highly volatile stocks are ones with extreme daily up and down movements and wide intraday trading ranges.
Margin: A margin account lets a person borrow money (take out a loan essentially) from a broker to purchase an investment. The difference between the amount of the loan, and the price of the securities, is called the margin. Margin is one of WSB’s popular instruments of wealth and destruction.
Dividend: This is a portion of a company’s earnings that is paid to shareholders, or people that own hat company’s stock, on a quarterly or annual basis. Not all companies do this.
PPS: Acronym for “Price per Share”
Moving Average: A stock’s average price-per-share during a specific period of time.
Bullish: Expecting the stock to go up
Bearish: Expecting the stock to go down
Any raised hands can redirect themselves to here:
http://www.investopedia.com/articles/investing/082614/how-stock-market-works.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186
Now that these terms are defined, let's move into the details of why this is even useful. Most people know what a stock is, but how and why stocks move is a different story. The stock market is essentially a big virtualization of supply and demand - meaning that usually high positive volume creates upwards movement in the PPS, where high negative volume does the opposite. This creates a trader’s opportunity; Generally, the most effective time to buy or sell is where the candlesticks (volume data) are thinning out. When you are ready to take an entry point or execute an exit point, waiting till the volatility (candlesticks) thin out is one method to give you best trade possible.
WSB FAVORITE EQUITIES: Of many equities, WSB favors the riskier ones - but avoiding penny stocks is a policy.
AMD - CEO Lisa Su, Next Gen Processors, chips, graphics. It’s the gamers gambit. Up roughly 1400% as of 2/7/2017 since WSB first mentioned it
NVDA - AMD’s sister? Mother? Daddy? Who knows. NVDA has been a sexy semiconductor leader. Is up 400% since gaining traction on WSB.
FNMA / pfds - Mnunchin, Trump, Big fat fannies. Get your self deep in the fannie. We all want it. WSB 10 bagger candidate for reforming the housing market. WSB holds a large cumulative position that can be seen below. Also a good read is the beginners guide to FNMA. Any post by u/NOVACPA is very often VERY informative on FMNA/pfds.
https://www.reddit.com/wallstreetbets/comments/5oissp/results_wsb_fnmafmcc_holdings
https://www.reddit.com/wallstreetbets/comments/5t7gba/beginngers_guide_to_fnma_fmcc_read_this_before/
ARRY - A biotech champion that prevailed after a lot of failures and huge losses in the biotech sector. Dark times for WSB. Up ~300% since getting traction on the subreddit.
TWTR - WSB likes to buy put option contracts on her. Exemplary of a social media platform that is unable to monetize itself.
TSLA - Maybe not unanimously a favorite, but loved for it’s sexy volatility, Elon Musk, and ridiculously expensive options.
GILD - A Shkreli pump and dump? The greatest large cap pharma recovery of all time? Who knows. Martin took the time to make a post on this reddit and it is up $5 dollars since.
ETF'S
Welcome to the world of investing made easy. Exchange traded funds (etfs) are devices that can be traded like stocks, but often track the value of many companies by investing in their listed assets accordingly. Specifically, An ETF, or exchange traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs experience price changes throughout the day as they are bought and sold. ETFs typically have higher daily liquidity and lower fees than mutual fund shares, making them an attractive alternative for individual investors.
ETF’s come in beautiful and delicious varieties, often with a BEAR form and a BULL form of each; but the most delicious to WSB are the 3x etf’s. A 3x ETF is one in which the underlying movement of the ETF is leveraged 3:1. Meaning for every movement within the underlying index or stocks, the 3x ETF moves well.... 3x as much..
WSB FAVORITE AND USEFUL ETF’S:
JNUG - 3x Gold Miner Bull - A hit or miss, has extreme intraday movements and essentially tracks GDX (gold miner’s index). Jnug will usually move with a pretty strong correlation to gold, which is affected by the mentioning of rate hikes (negatively), movement of the US dollar (inversely), uncertainty (positively), and supply and demand.
NUGT - Jnug with a different price tag
JDST - The inverse 3x etf of JNUG - or the bear etf. It does almost exactly the opposite movements of JNUG by the tick. Moves for the same reasons, but obviously opposite directions.
DUST - Jdst with a different price tag.
UGAZ - Natural Gas 3x Bull ETF - essentially tracks the price value of the commodity Natural Gas, but more specifically the S&P GSCI Natural Gas Index ER. The index comprises futures contracts on a single commodity and is calculated according to the methodology of the S&P GSCI Index. Natural gas is most affected by Weather temperature conditions (use your brain), petroleum prices, and broader economic conditions.
DGAZ - Inverse of UGAZ
UWT - Crude Oil Bull 3x ETF - extreme intraday movements, closely follows the price of oil. More specifically, it tracks futures. UWT seeks to replicate, net of expenses, three times of the S&P GSCI® Crude Oil Index ER. The index tracks a hypothetical position in the nearest-to-expiration NYMEX light sweet crude oil futures contract, which is rolled each month into the futures contract expiring in the next month. The value of the index fluctuates with changes in the price of the relevant NYMEX light sweet crude oil futures contracts.
DWT - Inverse of UWT
FAS - Financial Bull, specifically FAS seeks daily investment results, before fees and expenses, of 300% of the performance of the Russell 1000 ® Financial Services Index. The fund creates long positions by investing at least 80% of its assets in the securities that comprise the Russell 1000 ® Financial Services Index and/or financial instruments that provide leveraged and unleveraged exposure to the index. Can be used when bullish on US financial services - so banks, lenders, etc.
FAZ - Inverse of FAS
UPRO - S&P500 Bull 3x ETF, essentially tracks the S&P500 and multiplies it’s returns by 3x.
BRZU - Tracks Brazil (in its most basic form). It creates long positions in the MSCI Brazil 25/50 Index.
LABU - Tracks the Biotech sector, or specifically 300% of the performance of the S&P Biotechnology Select Industry Index ("index"). It should be noted that LABU has doubled since just before the election of Donald Trump.
LABD - Inverse of LABU
RUSL - roughly creates 300% of the performance of the MVIS Russia Index.
RUSS - Inverse of RUSL
SPY - Tracks the S&P500, but is not 3x.
OPTIONS:
Alright, so half you are going to understand this, and half of you are not. Pull up an options chain now on any stock (penny stocks and specific stocks do not have chains because of their market cap). Options are truly the ultimate way to achieve maximum risk/reward.
An option is a contract that gives the buyer the right to buy or sell 100 shares of a stock at a certain price, on a certain date. This concept makes options a commodity themselves.
KEY TERMS:
A CALL - is the right to buy. Buying calls is taking a bullish position in its most extreme form.
A PUT - is the right to sell.
The underlying - is the stock that the option is covering i.e. AAPL, GOOG, AMZN
Strike Price - the price at which a put or call option can be exercised.
ITM, In the money - In the money means that a call option's strike price is below the market price of the underlying asset or that the strike price of a put option is above the market price of the underlying asset. Being in the money does not mean you will profit, it just means the option is worth exercising.
OTM, Out of the money - a call option with a strike price that is higher than the market price of the underlying asset, or a put option with a strike price that is lower than the market price of the underlying asset.
ATM - At the money - Strike price at the same price as the underlying
Expiration - Expiries for options are every friday of every week usually, with exceptions such as every month, or every other day - depending on the underlying. SPY and SPX are great examples of very active option chains with expiries every other day. On the expiry date or any time before (with american options), an option can be, but doesn’t have to be exercised, meaning the holder of the option can use it to buy or sell shares of the underlying stock at the strike price. Most people on WSB do not exercise the contracts, but merely flip them for increases in value as the underlying moves.
For example, when AAPL was at 120 before its earnings report, Joe Shmoe Yolo buys 10 FEB 17th CALLS at strike 127 for .60 , each. Now .60 cents is really 60 dollars each, because the contract is multiplied by 100 (the right to 100 shares). In total, Joe Shmoe Yolo spends $600 dollars + commision on this trade. The next day, AAPL leaps to 130 upon great news. These same option contracts are now worth 3.50 each. $350 dollars per contract, times ten contracts is $3500 dollars. Joe Shmoe Yolo just turned $600 into $3500 dollars. MAGIC. Spoiler alert: Joe Shmoe Yolo was me.
That same Joe Shmoe later buys FEB 17th XOM calls at 90, hoping for similar results. However, XOM ends up never reaching anywhere close to the strike price, and the options expire worthless. Get it?
Now what determines the pricing of options?
OPTION PRICING:
Below is sourced from investopedia
Intrinsic Value: The intrinsic value is the actual value of a company or an asset based on an underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors. This value may or may not be the same as the current market value. Additionally, intrinsic value is primarily used in options pricing to indicate the amount an option is in the money.
Time Value: Time Value = Option Price - Intrinsic Value. The more time an option has until it expires, the greater the chance it will end up in the money. The time component of an option decays exponentially. The actual derivation of the time value of an option is a fairly complex equation. As a general rule, an option will lose one-third of its value during the first half of its life and two-thirds during the second half of its life. This is an important concept for securities investors because the closer you get to expiration, the more of a move in the underlying security is needed to impact the price of the option. Time value is basically the risk premium that the option seller requires to provide the option buyer the right to buy/sell the stock up to the date the option expires. It is like an insurance premium of the option; the higher the risk, the higher the cost to buy the option. Makes sense, right?
Time value is determined by the expiration date. An expiration date in derivatives is the last day that an options contract is valid. When investors buy options, the contracts gives them the right but not the obligation, to buy or sell the assets at a predetermined price, called a strike price, within a given time period, which is on or before the expiration date. If an investor chooses not to exercise that right, the option expires and becomes worthless, and the investor loses the money paid to buy it.
Volatility:
In an options pricing, you see IV. This stands for implied volatility. The higher that is, the higher the options will be priced Volatility is the extent to which the return of the underlying asset will fluctuate between now and the option's expiration. Volatility, as expressed as a percentage coefficient within option-pricing formulas, arises from daily trading activities. How volatility is measured will affect the value of the coefficient used.
Decaying Nature of Options:
Decay refers to derivative trading (i.e. options). When you sell or buy a call/put (using those two for simplicity purposes) you don't get an infinite time frame to make your dreams come true. Time is your enemy; the further out the expiration date, the less time decay there is. Time decay really hits the worst the week of expiration. Sound confusing? Say you're buying options of the stock WSB (I hope you're seeing what I did there) - and the option costs $1, the expiration is this Friday. Say today is Monday. You buy a call expecting WSB to take you to the moon and beyond. Each day the stock doesn't move closer to your strike price or remains stagnant/drops, you lose value on your option + the time decay. Meaning if it finishes closer to your strike price, your option could be worthless because of that time decay. Questions? Ask away.
A great example of these factors in action is TSLA.
TSLA’s options are among the most expensive for companies in its price range, why?
An in the money TSLA call expiring this week is worth around $1100 per contract. Insanely expensive. But for a reason. TSLA has extreme intraday movements and calls have an implied volatility of 40.92%. Which is fairly high. In addition to that, it holds high intrinsic value / price per share, and a week of time value.
-Futures 101 - The Ultimate YOLO Guide (thanks to u/IncendiaryGames)
Okay, a lot of you have been YOLOing on faggot delights on SPY options. How would you like to trade something with the same or more leverage, 1.0 delta, and no time premium costs? Have you considered futures? What are futures? Unlike options, futures is a contract where both the buyer and seller is obligated to perform the transaction by the expiration. Conversely, in options, only the seller is obligated to perform. That means you can lose more than your investment. Originally they were used by farmers to sell future crops early and guarantee some amount of sales. Since then futures have expanded not just to commodities but currency and equity indices like the S&P 500. Why the heck would I want to trade futures? Here are the advantages: Leverage $5k is the margin requirement for most contracts. For example with the E-mini S&P 500 with 5k you're trading $120k worth of stuff. 1 contract = 500 spy shares. Some brokers offer intraday daytrading margin rates too - TD Ameritrade is 25% of the overnight margin rate($1,250.) Some brokers go as low as $500 an /ES future. SPAN Margin If 24x overnight leverage and 240x day trade leverage didn't give you a hard on there is also SPAN margin, which is like portfolio margin on steroids. The beauty of SPAN margin is you don't need a $125k+ account to be eligible. SPAN will greatly reduce your margin requirements if you hold uncorrelated or inversely correlated positions (up to an 80% discount, here is a list of groups that give discounts) and if you hedge with options. Hedge with the right option or asset and now you have up to 500x day trading margin. 23/7 and day trading Ever get in and out of an equity only to have your broker yell at you to stop doing that or deposit $25k? There is no pattern day trading restrictions on futures. Feel free to day trade and blow up your account as often as you want! You can also trade 23 hours a day. Get trading on how the S&P 500 index will react to news from China right away. Taxes No matter how long or how short you hold you always get taxed under the 60/40 rule. 60% of your profit from futures will be taxed as a long term gain and 40% will be taxed as short term gain. No wash sales. Trade your hearts out. Just remember holding past Dec 31st will treat you as if you closed all your positions that day and you'll be taxed on unrealized gains. Long/Short No need to pay interest or borrow shares as being short a future contract is being a writer, just like an options writer. Options Of course there are options. What fun would it be without options? Unlike stock options each contract gives different number of future contracts. Research what you're trading.
Ok. I'm convinced. I want to strat trading futures! What are some good strategies?
YOLO Strategies
Swing trading Trying to guess/predict/ride sudden market momentum. A low volume average day in the S&P 500 (/ES) for one contract can swing +- $500. Get it right and you can see a huge appreciation of value. /ES is usually highly liquid during regular hours with average volume of 1 million trades and usually bid-ask spreads of one tick. One approach is to buy or short in your direction and put in a stop loss to an amount you're comfortable to lose (say $200.) Since it's so liquid you'll likely be filled at or near your stop loss during the day if your trade goes against you. If you can guess the direction 50% of the time and have trades like this: trade 1 - gain $800 trade 2 - lose $200 Then you may profit over the time period. If you have a 50% chance of being wrong and losing $200 or 50% chance of being right and gaining $800 then over time you'll gain more than you lose. Also, since the present value of your futures contract is included in your margin calculation then if it goes strongly in your favor your position can quickly grow to cover its own margin and you can let it ride for a while. You'll want to be sure you enter a combo buy/short order along with a stop loss order simultaneously, like this for Thinkorswim. Futures can move suddenly and a sudden movement can make you lose a ton of money. Exploiting outdated SPAN margin guidelines There are several out of date correlations between popular futures like oil and say things like wheat that SPAN gives you margin credits on. Take whatever position you want in oil (/cl) then take the opposite in something that doesn't move much day to day with less volatility such as /w (wheat)) and your /cl and /w positions will get a 75% credit, giving you 50% more buying power on crude oil. (2 positions * .25 = 0.5). Trade your heart out on the more volatile future then when you're done close your safer future pair. SPAN is constantly changing but such a complex system definitely has its exploits. Automated/algorithmic trading For you programmer geeks out there it's really hard to algorithmic trade on small accounts due to pattern day trading rules and economies of scale with broker fees. Futures is probably the best way to get your feet wet. Join us on /algotrading if you want to explore more!
Boring safer strategies
I'm including these for completeness but these belong on /investing. Scalping With high frequency trading scalping is less guaranteed. Basically scalping is using tiny momentum as usually there are small micro patterns in futures buying and selling activity where it will rise or fall a couple of ticks. Since the notional value of each tick is $12.5 it's profitable for retail investors and small accounts to act as a market maker after fees at the smallest bid-ask spread possible. Spreads Just like you can trade spreads in options, you can trade calendar spreads in futures. Futures have contracts with different expiration dates and the prices are different for each month of expiration based on the market's expectations. You can go long or short the near month expiration and the opposite for the far month. This will hedge out any sudden market moves as that would likely affect both months. Bull markets in general tend to increase the price of the near month faster than the far month. Basically with a spread trade you're making a long term bet on bull or bear for the underlying future. Pairs trading You can go long in one future say the dow jones (/ym) and short the S&P 500 index and profit off the relative growth. This is a hedged trade as any market ups or downs will likely affect both positions with the same % value. For the past 180 days /ym - /es has been really profitable. Even if you don't do a full perfect pairs trade it is still a great option to reduce the leverage too on whatever index future you're trading so you can stay in longer or overnight. Interest rate and optimal leverage plays Since the $5k investment is equal to $120k of the S&P 500 index currently then you'll likely beat out the market by buying one future contract and putting $115k in safe treasuries or bonds or uncorrelated assets. Some people choose to leverage their stock portfolio and you can get the exact leverage ratio of liquid investments to future ratios. In probability theory the max leverage you can gain is determined by the Kelly Criterion which modeling shows indicates the S&P 500 index to be leveraged to 1.40x. Yes, you could do the same with options but even on SPY deep in the money call leaps are illiquid and have a time premium. Even today they are so deep ITM that the options you would need to use have 0 open interest and a bid-ask spread of $5 per share (so $500 per contract.) You'd need ~5 contracts per 120k so you're already eating $2.5k/$120k - 2% interest rate a year for that leverage. SPX isn't better, it's bid ask is 22 so you'd be eating $2.2k/$120k - 1.83% interest rate. It's doubtful you won't get much past the ask as its only market makers providing liquidity and guess what the market maker will do if you buy/sell the option? They will hedge with the underlying futures until their minimum profit is the risk free interest rate. Hedging Going long and short in various non correlated or negatively correlated assets to seek out a high sharpe ratio and have a higher risk free return that is market neutral. Basic hedge fund stuff. The variety and price efficiency of futures makes things pretty attractive in this area.
SUBCULTURE
Wallstreetbets is a community that has become infamous for the most wild west, moon or cardboard box trades on the planet earth. WSB is a place where you can take out thousand dollar loans, refinance your homes, cash advance all of your credit cards only to put it all on JNUG, and we will still love you. Your mother won't. Your father will never understand your spectrum of autism, but we will always love you. It is a uniquely beautiful community focused on praising its biggest losers as much as its biggest winners. To begin on the subculture, we should define some key moments in the sub's history.
HISTORY: (As made by u/digadiga) + my additions
2012: Jartek [+1] creates /wallstreetbets, and word slowly starts to ooze out. 2013: americanpegasus discovers pennies. AP has seen the light, and is a penny stock evangelist. Jartek & AP have an epic options vs pennies battle - they both lose a couple of hundred bucks, but we are entertained, and WSB is officially born. AP blows up his retirement, swears off pennies and moves onto bitcoins. 2014: fscomeau [+3] discovers options. He repeatedly bets five figures on AAPL calls before earnings. FS claims a supernatural clairvoyance of AAPL. FS then posts about his chest pains and ER visits. He finally suffers an epic loss. Is he dead? Is he alive? Is he is mother? Is he banned? Who cares? 2015: Photos from the 3rd annual meetup are posted. Where a bunch of dudes hang out on the romantic beaches of Guerrero Mexico. In a completely unrelated event, the wsb banner is changed to thousands of ejaculating dicks. Modpocalypse occurs. Hundreds of random users are added as moderators for a few months. None of the new mods can change the CSS. The constant whining about how "wsb isn't what it used to be" continues. Someone attempts to show how selling covered calls is idiot proof, but gets lazy, bets all six figures on Apple, and suffers significant losses. Robinhood gets popular. Should you buy one share of AMZN or one share of GOOGL? Who gives a fuck. 2016: Everyone starts saying "go fuck yourself." Except me. Because I am what I am. And if you don't like it, you can all go fuck yourselves. u/World_Chaos performs one of the more impressive yolo's of the sub, starting with 900 dollars, and turning it into 55k. https://www.reddit.com/wallstreetbets/comments/414blh/yofuckinglo_900_to_55k_in_12_days/?ref=share&ref_source=link 2017: u/fscomeau preforms what he calls "The Final Yolo", a 300k trade against AAPL before earnings (that I, u/thor303456 inversed), supposedly supposed to net fscomeau 2.5 million or so, in which he will finally stop trading. FSC is featured on several market related articles and newspapers, showing up on yahoo, etc. Later we find proof during his livestream of AAPL earnings that he was paper trading. Even later, FSC writes a near 200 page book called "Wolfie Has Fallen" describing how he trolled the entire internet, some following him into that AAPL trade. Martin Shkreli visits the sub and proclaims that GILD pharma is worth over $100 a share and is deeply undervalued.
KEY FIGURES:
Donald J Trump - He is the Marmalade Manchurian, the Tangerine Tycoon, and our spray tan Stalin. Unbelievable night of election. WSB demographics show a primarily capitalist and right wing (or at least joking to be so) point of view, and thus we are generally pro trump. In actuality though, WSB is focused on pro-market, which Trump happens to be.
u/Jartek - Founder of the sub, original yoloer. Believe he has retired from reddit for the most part. Mostly inactive.
u/Fscomeau - The Canadian as some call him, and perhaps one of the most profound internet trolls of 2016-2017. A French-Canadian trader who deals with mostly options. The man has been called "The Great Inverse", and for a good reason. Nearly all of the trades or statements he made on WSB were completely wrong or mostly wrong. Truly the strongest technical indicator.
Martin Shkreli - An idol to many WSBers, Martin stands as the master of the biotech sector. A very debated character for very stupid reasons. Martin regularly tweets about the stock market, occasionally does a youtube channel, and livestreams fairly regularly.
u/theycallme1 - Educated trader, and mod of WSB. Roasts people often and roasts them good. Ask him the questions that aren't stupid. One of the most active mods.
u/world_chaos - some fucking college student with some real net worth. Sits on 100k or so (needs verification), and was an inspiring yoloer to all, with his 900 to 55k yolo with options.
Lingo, Terminology, and Nomenclature:
The Faggots Delights - Truly the most suicidal, yet clearest shot to the moon. This term is usually used to define either weekly, or daily option plays on the SPY/SPX. Some users trade them very profitably, such as u/MRPguy and many in the past.
Cuck - Truly the worst thing you could be. A cuck is a man who likes watching his wife/girlfriend fuck other guys. Weak, spineless, and a term often throw around here.
The YOLO - You only live once. This is something that is, and should be realized as undeniably true. Why are you sitting on a 5k emergency fund that is making you less interest in a year than what I just made in 10 minutes? Why haven't you used all of the credit on your 5 credit cards or used your testicles as collateral for a loan yet? YOLO or YOLOING is as much a psychological decision to embrace absurdism, and win with everything you have while risking it all. Yolo is what it means to be a WSB trader.
Bagholding or a Bagholder - When you're stuck with the most ass trade of your life, because you know it'll go back up. A bagholder is the 59 year old guy at the grocery store who won't quit his Job because he knows he only has to wait another year until he gets a return on his investment (of his life). Anyone holding SUNEQ is the definition of a bagholder.
Autists - Something we embrace, something we call each other, something we all are. Autism isn't used in an offensive way as much as it is a generally accepted term that defines us. The best traders have autism because of their distance from emotion. I bet you never made it to this part of the reading because you're such a damn autist.
Tendies - Tendies are what you get after you make a small amount of money. "I SOLD AMD TODAY FOR A $13 DOLLAR PROFIT, GOING TO MCD's TO GET MY TENDIES". Tendie money is usually shameful and insignificant, but at least it got you tendies. Chicken tenders at McDonalds are the least expensive for the most cholesterol.
I know some of the writing was half ass, full of errors, or otherwise not the best explanation. But I believe this will serve its purpose, and maybe help to promote new ideas from moderately educated traders. WSB has very strong traders, and the most uniquely risky trading styles on the planet. Hopefully this can serve to better the overall community.
You guys are all faggots, upvote this so we can get the noobs to stop trying to bite on our cocks.
Also I'd really appreciate input on anything to add to this overall. It took my over 3 hours to write up, so I eventually grew tired and probably have missing spots.
Enjoy your time here at WSB.
EDIT: Added a shit ton of stuff, fixed errors. THANKS FOR ALL OF YOUR INPUT, ACTUALLY MAKING WSB GREAT AGAIN
MODS: Can we make this editable by others mods or something? My fingers aren't enough. Seems like this could serve as a good "official" thing. Paging u/theycallme1 u/CHAINSAW_VASECTOMY etc
submitted by Thor303456 to wallstreetbets [link] [comments]

Proposed method to email crypto-coins directly.

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

FAST BITCOIN

Daily settlement between corporations, instant settlement on trading or funded shopping channels, physical bitcoin possession for investors .
Each platform which offers FAST BITCOIN will purchase a large amount of DA BOMB to power their digital envelope re-sale network. All networks will be compatible and fungible assets composed of.
When a customer places an order for DA BOMB I load a certain amount of BTC in various denominations onto a selection of bitcoin wallets, which are then manufactured as physical bitcoin.
This amount of BTC is the amount this customer can spend on the FAST BITCOIN network.
The Bitcoin the customer spends never moves on the BTC Blockchain.
The envelope containing the customer’s BTC is credited or debited a certain combination of addresses that contain a known amount of BTC, adding up to the exact amount of the transaction.
Transactions can only be made in ROUND NUMBERS of a certain resolution, such as 0.0001 BTC , and the resolution will be finer at a later date to account for the rise of value of BTC in the future.
The contents of a customer’s envelope will be maintained to allow for making change and to account for his spending or funding of his account.
The main issuer of FAST BITCOIN will be Satoshi Bitcoin Incorporated, with other platforms buying enough DA BOMB to issue their own FAST BITCOIN on their own shopping platforms.
Customers can always write to the platform and request that their remaining envelope balance be mailed to their physical address.
The envelope contents are tracked on a separate blockchain, the FAST BITCOIN blockchain.
Customers can use their physical bitcoin like paper money, or break the hologram seal and view the private key to use as regular bitcoin on the bitcoin blockchain.
Only TRUSTED NODES are on the FAST BITCOIN Blockchain. The Network is composed of the corporate members who offer FAST BITCOIN shopping at their websites, and join by invitation only. Large networks can fuel their own branded shopping tokens with FAST BITCOIN after paying a co-branding fee, or simply use FAST BITCOIN without re-branding to their own token name.
Software can equate all prices at a website to the token value of choice on the platform, so that the shopper may make purchases via FAST BITCOIN while referring to prices in stable fiat equivalent tokens, or re-branded token values.
The customer’s purchasing power varies with the price of Bitcoin, but the visible prices remain stable.
The customer may buy a StableCoin (not Tethers) to fund all or part of their account, or switch from BTC to StableCoin at will; or let the system do this for him. BTC going up, funding remains in BTC, BTC going down, Funding switches too StableCoin.
A purely electronic version of FAST BITCOIN will rely on a hardware device to store the private keys offline and always in encrypted form when connected to the internet.
There is object “A” : the FAST BITCOIN Wallet
There is object “B” : the individual private keys
The system works with a combination of Master System Key Encryption and Asymmetrical Key Encryption.
The Hardware device is called a SPLIT WALLET. It is a combination of a HOT WALLET and a COLD WALLET. The two halves of the split wallet can only communicate with each other when the device is unplugged from the device being used to access the Internet.
The Master System Key resides on the Cold Wallet and can’t be viewed without destroying the function of the Hardware Wallet.
To send bitcoin to a person on the network, the hardware wallet takes the addresses needed to add up to the desired amount and encrypts them with the PUBLIC KEY of the receiving device.
The BITCOIN CASH BLOCKCHAIN is used as a KEY SERVER to store the PUBLIC KEY of every device manufactured, linked to its registration number and owner identity. The OWNER IDENTITY is an EMAIL ADDRESS which is [[email protected]_BITCOIN.COM](mailto:[email protected]_bitcoin.com) .
The addresses are encrypted by the SYSTEM MASTER KEY , then by the RECIPIENT PUBLIC KEY and emailed to the above email address.
The whole network is sustained by a peer-to-peer email remailer network. Software on the machine used by the hardware device to connect to the INTERNET is designed to run a peer-to-peer email remailer node.
As well as sending the recipient an email via the re-mailer network, an entry is made on the BITCOIN CASH BLOCKCHAIN containing the double encrypted bitcoin private keys, recipient email address, and transaction identifier . This also contains the device registration number as part of the owner email address.
Thus even if the domain is blocked from sending email the information needed to use the bitcoin is available from the data stored on the BITCOIN CASH BLOCKCHAIN.
The value of Bitcoin Cash does not impact the cost of sending bitcoin, since the transaction sizes to record data on its blockchain are very small.

When FAST BITCOIN is sent to a recipient, he must plug his hardware device into a laptop, phone, or other internet device to download the keys to the device. At this time while the hardware device is still connected to the internet the just received FAST BITCOIN will not yet be available to spend. It will show on the device as STILL ENCRYPTED. The user unplugs the device from the internet and then transfers the amount from the COLD SIDE to the HOT SIDE of his wallet while offline. If he wishes he may leave this amount on the COLD SIDE or transfer up to the entire contents of the SPLIT WALLET to the HOT SIDE to enable immediate spending as soon as connected to the internet.
The COLD SIDE contains the SYSTEM MASTER KEY and decrypts the PRIVATE BITCOIN KEYS in order to enable spending.
The hardware device checks the bitcoin blockchain to verify the amount of bitcoin held by each bitcoin private key, and also checks that the private keys it contains map properly to the public bitcoin keys used to view the balance on the device when it is connected to the internet.

DA Bomb

Directly Available Bitcoin On Metal Banknote (Da Bomb)
Bitcoin Metal Wallet Cold Storage on BTC Blockchain. A Crypto-Currency version of money, which may be exchanged for fiat currency.
Other major cryptos such as Ethereum , LiteCoin, and Bitcoin Cash may be substituted for bitcoin without affecting the usefulness of this offering. These versions will come out later, using the same physical format. (hopefully patented)
The design of the card should be modified enough from any existing patents to be patentable itself. The manufacturing, loading and documenting of the card should be done by proprietary and open-source software. This process should be patented as well or be part of the same patent.
These are physical BTC coins, in the form of a metal card the size and shape of a credit card. The Bitcoin Wallet is composed of two sets of engraved alpha-numeric and QR codes highlighted by black ink. One set is public and is on the outside of the card. A pull-tab almost exactly like the kind on a soup can is removed from the front of the card to reveal the inner contents . This is the engraving of the private key which is required to spend the BTC. Viewing it or detecting the exact nature of this code is equivalent to ownership of the associated BTC.
The public key on the outside of the card is used to deposit to or send to the card. In normal operations the card would come loaded with a certain amount of BTC.
The cards will be protected by security features and the quality control process during their manufacture.
The cards will be dipped in a coating of compounds to indicate a unique identity for each card, with short lengths of coloured fibres and paint floating on the surface of the clear lacquer compound and creating a unique visual identity. Each card is photographed and the image file uploaded to a database with the blockchain address and item id from manufacture all associated together.
A label is created and affixed to the outside of the card. On it are the blockchain address, photo of the untampered card, and amount of BTC deposited to card.
The private keys are not retained in file form at the manufacturer’s facility, or recorded in any way.
Before the key is deleted from memory and fully erased from all data storage devices, the photo of the engraving of it is compared to the key via character recognition software. When photo verifies as true then key is deleted from memory. Now the card is tracked by my own “in-house” item id, linked in the database to the blockchain address which displays the public key, and the photo file of the card. The card is photographed twice, the photo of the private key is deleted just after verifying the engraving matches the private key. The photo of the exterior of the card showing the paint lines and fibre positions on the card is kept on file. The offline computer takes the photo of the private key, the online computer takes the photo of the card after dipping.
The card is meant to circumvent the horribly high fees associated with using BTC as a payment method. Possession of the card is deemed to be legally equivalent to the ability to spend the associated BTC available via the private key. The nature of the tamper proof and hack proof aspects of the card manufacture lends credence to the continued value of the card as it is passed through consecutive transactions. The fees which would have been normally paid to enable these transactions on the Blockchain, will now have been saved by the people utilizing the physical Bitcoin cards. The Bitcoin transactions on the Blockchain are enabled by paying fees to “bitcoin miners”, who use large amounts of energy and computing power to solve complicated mathematical problems in order to process transactions and also to earn newly created bitcoins, of which there will only ever be 21,000,000. The fees for bitcoin transactions have become so high that paying for an item with bitcoin wouldn’t make sense for anything under $280 or so; and you had better be rich enough not to care about the $30 to $75 fee to buy just about any size purchase.
Instead of this, cold wallets containing small denominations of BTC can be exchanged via strong encryption and sending password and wallet via different delivery modes; or by physical bitcoin wallets.
At any time one may pull the tab on the metal card and reveal the private key, in order to obtain control of the BTC for use in a different cold wallet, or an online wallet. You will now have to pay transaction fees as per your new wallet details.
There is an instant financial advantage as soon as a group of people trust the value of physical bitcoin in transactions. All the miner fees for each transaction done with physical bitcoin are saved by the group. These transactions are valued in BTC, worth real dollars if exchanged for dollars; but with the dollar value always changing.
Volatility is a fact of life with Bitcoin (BTC), but the market has always trended upwards if you wait long enough. And the value has often nose-dived as well, in an unpredictable manner. A lot of people are holding (or “hodling”) BTC as a very risky and speculative investment, hoping the price will go up.
There is a great demand for bitcoin and that demand is going to increase in the near future.
How will I pay to load the BTC on to the cards? The cards will be loaded on an “on-demand” order process. The cards can be made up to a certain stage, where they have been dipped in tamper-proofing but not yet labeled. Up to this point they can be any denomination (amount) of BTC. When the payment for the order is taken at the online website then the card is loaded, labeled and shipped to the customer.
Besides the metal coin wallets denominated in various amounts of BTC; there will be “piggy-bank” versions of the card available. The BTC is loaded onto the card via the visible wallet public key engraved on the front of the card. The card owner can be paid debts owed to him via the public key. The card owner can send any amount of BTC to this receive address and it will become associated via the blockchain with the private key hidden inside the card. To spend the BTC loaded onto the card he will have to view the private key and send it to the hot wallet he uses online. Technical advice about fees, security, hacking and safety will be available at the company website, as well as many other helpful resources.
The denominated versions of the card are identical to the piggy-bank versions except for the label. The label covers the “receive” address on the denominated versions, as no further deposits to the blockchain are needed. The label on the piggy-bank version doesn’t cover the public key address, has a photo of the card and the manufacturer’s ID number. It also has a link to the Blockchain.info webpage associated with the public key address. Anyone with this address can see how much BTC is associated with the Public Key shown here.
Thus the intact tamper-proof BTC Card can be used with confidence, as the public key can be viewed on the Blockchain by anyone. As long as the amount on the card label matches the amount shown on the Blockchain.info webpage then the card’s private key can be trusted. This renders the card a form of “trust-less” currency equivalent to legal tender in value and usefulness .
The card format and manufacturing process is tested to obtain a hack proof product. The private key is not detectable by examination or any technical means without opening the pull-tab. This is essential to prevent theft and fraud. The card can not be opened, viewed , and sealed again.
A card without a label would be suspect, a card which had been opened and re-sealed obvious. Checking the blockchain address reveals the status of the BTC in question in any event.
The manufacturing process is outlined below:

The engraving is deep enough to be permanent but still not detected while wallet card is in closed position. The alpha-numeric and QR code versions of the keys are engraved and inked.
After the engraving, the private key is deleted from memory of the engraving controlling computer. This computer is never connected to the internet. Only verified software is used on this computer.
A separate computer controls the camera, label maker, and database connection to the internet.

The same file is used to generate the labels.
Addresses are checked for BTC before coin Cards are offered for sale. A second stamp is placed on label when transaction confirms.
Coin is offered for sale at Amazon.com if allowed.
Coins can be exchanged as if fiat currency, with full confidence in BTC amount displayed on seal.
Sale price on Amazon will reflect BTC amount cost when loaded- possibly a great deal if BTC has gone up since loading, or actual cost of production plus 2%, plus miner fee and distribution fee.
Savings could be significant if BTC surges in value after coins are minted. coins are bought at time of minting by purchases of BTC at market price.
“Would you like to buy some free money?”
Demand for product is assured, as the value once for sale at Amazon increases over time. You will not be able to find cheaper bitcoin anywhere, sometimes. A small portion of my stock at Amazon will remain on sale at a very low price when the Bitcoin price rises. I plan on adjusting the price of my stock to reflect the current price of Bitcoin at the time; but not all of it, and not immediately. Every time the price of BTC increases by 10%, I will reset the price of my cards to initial values.
The initial values are the current price of BTC plus 2% , miner fees and distribution costs. As the market price increases after loading the cards, they are more and more of a deal for the customer.
This forms the basis of a great promotional value to sell the metal card coin wallets.
The profit.
Profit is calculated to be 2% of the BTC value when minted. Values from 0.001 BTC to 1 BTC are minted. This generates from $0.18 Cad to $180 CAD per card depending on value. I will focus on minting in the 0.01 to 0.11 BTC range, with profits of $1.80 to $19.80 a card.
customer pays: Cost of BTC when minted
miner fees, distribution fees, 2% over cost fee, Cost of manufacture. I estimate all costs not BTC or profit to be about $11 Cad per card.
Price of card is: BTC cost + 2% + $11.00 .
After purchase the card can be traded for cash, items or value of services. Miner fees are saved by every person after the initial purchaser of the card.
I want to mint around 1000 cards a day. This averages out to $18,000 profit per day.
The plan is to produce only lower value coin wallets until cash reserves are big enough to pay for larger denominations.
Customers can order from the lower denominations in stock or special order cards of any amount that they pay for at the time, shipped after production on demand.
This involves simply loading the customer’s purchase of BTC onto the card address and attaching the label.
As the price of BTC rises then stock available and loaded previously will be a special discount offer until the price resets after a ten percent increase in the BTC market value.
When selling the BTC coin metal cards at Amazon.com :

Card is dipped in clear sealer with paint filaments floating in dip tank. Also small lengths of coloured fibre are floating in the resin coating. The unique pattern formed is photographed and printed on label stored in database with item number. Private key is not stored.
Sell in vending machines in Japan, Airports,New York Subway System, Pizza Hut, etc.
On the Directly Available Bitcoin On Metal Banknote (Da Bomb), the blockchain webpage address of the public key is displayed. To check that BTC are in the account, just go to that page. Unless tampered with, BTC amount will match that shown on label.
Full label is artwork, denomination in BTC, photo and blockchain.info webpage address associated with public key.
This idea is patentable due to the unique packaging of the cold bitcoin wallet in a pull-tab metal card. In this writing read “coin” as “card” as well. The card is evolved out of a sardine can with a pull tab lid closure, with very short sides and pressed flat all around the edge.
The goal is to have a design where the pull tab can easily be removed by an adult. It should be hard for a child to open without being shown how. The card should be only slightly thicker than a regular credit card, and not open while in a leather wallet’s card holder.The pull tab should not open accidentally while being carried in a wallet. The pull tab will be manufactured so that it must be rotated by 180 degrees before opening. A small screwdriver, nail file or fingernail must be placed into a small slot to twist the pull tab into the correct position to open, before this it is restrained by a shallow metal lip on the top of the card.
Research and development are required for this idea to be a success. The manufacturing process, security features and bitcoin loading and labeling must all be tested and verified as hack and tamper-proof. The customer must never receive a hacked or empty or unloaded card after purchase and delivery.
Attempts at fraud by the customer will be obvious. Only Intact cards will be accepted for refund. Product must always ship in perfect condition, as customer can only return intact card for full refund, no opened, missing or tampered with cards will be credited to customer for refund, and this will be part of the agreement with the customer at time of purchase. Before refund the balance of the card must match the denomination on the label.
Notes on manufacturing process:



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

thank-you
submitted by bubbleHead3 to emailcoin [link] [comments]

A plea to help me bring justice in this damn world. Got scammed, need to track/identify Bitcoin address.

A plea to help me bring justice in this damn world. Got scammed, need to track/identify Bitcoin address.
Calling all superheroes on Reddit,
I just got scammed out of $1000 by an Airbnb rental, which turned out to be an elaborate scam. I made a huge mistake always trusting everyone too easily and I will learn from this. I know I would probably never see my money again and I have accepted that. Although I am going to be homeless, I don't care, I will find a way to survive. If I can get justice in this crazy world, I will be satisfied.
I am looking for anyone who might have the technical expertise or skill set to help me get to the bottom of this and in turn, help protect other people from getting scammed in the future as well. While we may not be able to identify the person, but I just want to get as much information as possible (i.e. name of the bitcoin exchange or company, tracking any other address(es) that the scammer might have used after this transaction, etc.) I am sick (and I am sure others are too) of scammers being able to just get away with everything. Again, I have accepted that I cannot get the money back and I know it is probably near impossible to track the identity of a Bitcoin address, but even if there is a 1% chance, I am sure that there are real superheroes in this damn world who have the means or know how to.
It's 2019. We're past the times where we don't have the technical capabilities and advanced technology to make a difference. Justice needs to be served and if the authorities cannot help, then it's up to us the people to expose them and help prevent future injustices.
Here is the Bitcoin address: 35vxzdpZT25cQtVeMTCxPQzXy1MSQyVNGX
So it was an elaborate scam. It worked like this:
  1. He suggested that since he worked on an oil rig and couldn't come back until March 15, we can use Airbnb or Homeshare as the third party platform to facilitate the payment of $1,000 security deposit.
  2. I Google'd him up, his name was David Brown (I know..lol) and oil rig and what I found was a David Brown who was an I.A.D.C. Certified Engineer, an independent contractor who worked inspecting oil rigs. I was hesitant, but thought it could be possible from my search. I even found a resume from 2012 (probably planted, I realize this after the fact) (https://www.ndt.org/resume.asp?ObjectID=28110). I also found a previous attendance list for an oil rig convention and found his name there as well.
  3. The email that he was using to talk with me was [[email protected]](mailto:[email protected]) (now defunct) and even had the confidentiality notice on the bottom which stated "This communication may contain material protected by the I.A.D.C. - International Association of Drilling Contractors. This communication and any documents or files transmitted with it are confidential and are intended solely for the use of the I.A.D.C. - International Association of Drilling Contractors and the individual or entity to which it is addressed. Any use, dissemination, forwarding, printing or copying of this communication is strictly prohibited."
  4. I received an email that looked exactly like Airbnb to have me go to fake Airbnb website (which actually looked legit) and you can actually click to the description of the host "David Brown" with ratings and everything. The reviews on the website for the rental property seemed legit. There were 11 reviews from saying "fast communication with host" "My uncle used to work as an oil rig, which was unconventional, but he was able to respond fast." I should have screenshotted them but unfortunately, I didn't and now the website is down obviously lol
  5. I clicked booked and received a confirmation email saying that I need to pay for the security deposit and there were various ways to pay. He emailed me saying that he chose the non-monetary Bitcoin way where I can send it via Bitcoin ATM with the QR code, which the instructions were on the itinerary. The bitcoin address was 35vxzdpZT25cQtVeMTCxPQzXy1MSQyVNGX
  6. After sending it, I received another confirmation from “Airbnb”, saying that my security deposit has been confirmed. Then he ghosted me and when I checked the link to the website again, there was an error. Attached are the screenshots of everything for your references.

https://preview.redd.it/9en4oau08ne21.png?width=1776&format=png&auto=webp&s=c67559110a0b1f4fe34d77c9814dd67f349d5100

https://preview.redd.it/axu4om828ne21.png?width=2064&format=png&auto=webp&s=92c0d01dbef20e0bd669e559bcbf4da613a0c1f4

https://preview.redd.it/zf13tab38ne21.png?width=2076&format=png&auto=webp&s=a9ca0b8b2135badfad1c411b453ece95bea1b60f

https://preview.redd.it/dlhjqqb58ne21.png?width=1168&format=png&auto=webp&s=798ed3cead1f982fd43fb75e4eca1851c4897395

https://preview.redd.it/3oembue68ne21.png?width=1168&format=png&auto=webp&s=02eeb43e330be02d0e19137af86395fb35ef5770

https://preview.redd.it/rxbfw5h78ne21.png?width=1262&format=png&auto=webp&s=5c5397008ed5c322b2def2bc250d7f3ffac22e7d

https://preview.redd.it/vc7ghfe88ne21.png?width=1186&format=png&auto=webp&s=612558fd32f1001abfcc111d50fbfa3de7736f15

https://preview.redd.it/yozt4qt98ne21.png?width=1194&format=png&auto=webp&s=2246337b1790490cc2aad96044421ce1eb438ef5

https://preview.redd.it/7ylij2fa8ne21.png?width=1164&format=png&auto=webp&s=cb3f72659349b332d1f28fa12c877d7d53413b17

https://preview.redd.it/vk2q6d5b8ne21.png?width=2052&format=png&auto=webp&s=f8463ef48499ff5e18cda19caf3b37c5f5f755d2
submitted by roruang to Bitcoin [link] [comments]

[CPCAC Conference 02 Session] The Status Quo and Expectation of Construction of CPChain Multilingual Community

[CPCAC Conference 02 Session] The Status Quo and Expectation of Construction of CPChain Multilingual Community
At 21:00 on September 28th, Beijing time, CPCAC held the CPCAC Conference 02 Session at zoom.
CPCAC Conference 02 Session held successfully, opening a new chapter of the construction of CPChain multilingual community.

Conference Post
Meeting Process:
-The Speech Session of CPChain Global Community Managers
-The Speech Session of CPChain Co-founder and COO, Shi Qingwei
-Free discussion

Zoom Meeting
01 The Speech Session of CPChain Global Community Managers
  1. Korea Community Administrator, Kim YoungA

Kim YoungA
Hello everyone, I am CPChain Korea Community Administrator Kim YoungA. CPChain Korean KaKao community was established in early September. After the establishment of the community, we have organized online AMA and community airdrop activities, and we have received positive responses from our community users. Now, the KaKao community has more than one thousand members.
KaKao is a Korean social software that is currently used in more than 200 countries and it supports 12 languages. The KaKao community users are very diversified and the users are also very active. In the following three months, we will promote our CPChain community through various publicity channels to make CPChain Korea community stronger. We hope that the number of community members will be 2 or 3 times more than it is now.
According to the statistics, there are more than 4.5 millions Korean people who are crypto-currency holders. One in ten Koreans has been exposed to crypto currency and there are more than 72% among them are young people. Meanwhile, the fourth Industrial Revolutionary Committee of Korea has mentioned blockchain in the report: In the next Internet development wave, blockchain technology is closely related to national security, and it is necessary to strive to develop the Korean blockchain industry.
Therefore, CPChain community promotion in Korea has great potential of development. The Korean community prefers off-site communication. In the future, we will organize off-site meet up event according to the time of CPChain listing in Korean mainstream exchanges and we will also cooperate with the mainstream media channels and Korean blockchain authorities and experts to discuss cooperation and to promote CPChain in order to expand CPChain’s popularity in the Korean market. In addition, we will learn from other projects in Korea to develop CPChain Korean KaKao community through multi-channels and in various forms.
Thank you!
  1. Africa Community Manager, Hola

Hola
Hello. My name is Hola, I am the African CPChain community manager and I'm from Nigeria. First of all, I am very grateful for CPChain team for giving African community a good opportunity. The community development is really fast and there are many crypto currency enthusiast, investors and partners who have joined the Africa community.
Currently we have 630 members in the CPChain Africa community and we will expand CPChain community in other Africa regions in the future. African countries are no strangers to the use of digital solutions as a way to transfer money, nor to the rapid implementations of blockchain technologies. Blockchain technology adoption has been increased in Africa, for example, some countries in Africa already have Bitcoin ATM machines, like South Africa, Kenya, Ghana and other countries.
CPChain is going to organize an event in Nigeria, we are looking forward to this event. Our prospective partners and investors are very pleased with the solution we proposed. I am quite confident that they will adopt and understand it easily. Again, I am very grateful that CPChain team has expanded their products to Africa. I believe that Africa companies and related organizations will welcome this technology.
Thank you very much!
  1. Turkish Community Manager, Refik Yilmaz

Refik Yilmaz
I am Refik Yılmaz and I am the Turkish community manager. Being a part of the CPChain team makes me feel happy. If we analyze the general network traffic of crypto currency, we can see clearly that Turkey plays a major role in creating these traffics. At the same time, there is a Turkey exchange which has become a sponsor of a local football team and there is also a sport token which has established partnership with a local football team.
All these facts have given us a clear insight about the enthusiasm of Turkish people to crypto currency and Turkey people see it as a visionary project. CPChain has seen the enthusiasm of these people thus we create a community to provide information and support to them using local language. The efforts that CPChain has made to enter Turkey market has indicates that CPChain is a long-lasting trustworthy project.
Regarding to the community, instead of pumping it with passive members, we has made it an active group which is now expanding steadily with the growth of active users. We are confident to say that we are doing a good job.
In addition, there are many users who have helped us voluntarily to develop the CPChain community in Turkey, such as voting for binance dex or doing promotion activities on twitter. There are members who have joined CPChain for nearly one and a half year. Of course, there are still many other things that we can do for CPChain. So we will continue brainstorming with community members and we are open to collaborate with people from local society as well as the other communities. CPChain with its recent updates (CPCAC conference, partnerships and its IOT vision) has shown us that it is a promising project.
Thank you!
02 The Speech Session of CPChain Co-founder and COO, Shi Qingwei

Shi Qingwei
Hello everyone, I am glad to join the community governance conference again. I am Shi Qingwei, the co-founder and the COO of CPChain. First of all, I would like to thank Node Pacific for the well-organized preparation. The second Community Governance Conference has been proceeded as scheduled. After listening to the speeches of our Turkish, Africa and Korea community managers, I am quite touched.
People say that consensus is a key part of blockchain. But what kinds of consensus is it? On the one hand, it is a technical consensus which is the basic for the decentralization of blockchain; on the other hand, it is an ecology consensus which shows community members’ understanding and recognition to the mission and vision of CPChain and it has become an important indicator for the construction of ecological viscosity and user loyalty.
Three community managers have shared with us respectively what their ideal local community is like, how to plan and organize activities and how to maximize positive brand exposure in local community. You can really feel their belief and passion for the project from their talks. I think it is from their recognition to the value and concept of CPChian. We are very appreciated of that. We will start to plan the next Market Entry strategy with these local communities after the National Day.
With today’s opportunity, I would like to talk with you guys about the next step of the Foundation in global community construction. Most of you have seen that many localized communities of CPChain have been built gradually. There are hundreds of fans in both Africa and Turkish communities and there are more than 1000 fans in Korea community. Although these are not large in scale, they are very active communities and they use their own languages.
It is an attempt by us to build up global communities. It is low-cost, more user-friendly and the communication cost is reduced because of the use of local languages. Currently, these communities have achieved pure organic growth in principle. Considering the present market environment, we haven’t planned much promotion activities to boost the user growth. We are glad to see high-quality communication activities in these communities.
In the view of the successful launch of Korea, Turkish and Africa communities, the Foundation hopes to accelerate the construction of other CPChain localized communities. Therefore, we would like to take this chance to invite CPChain eco users to join the global community development project with us. We will send the official mission victory link to the public after the National Day which is around the corner.
By the time you can tell us what kinds of community you can do and what resources you have. The Foundation will make assessment to the proposals accordingly. Once we have decided which markets we are going to enter, we will cooperate with the proposers and give them appropriate rewards. We are now considering to build Arabic and Russia communities. But of course you are welcome to share your ideas with us.
03 Free discussion
Q1: What will the official team do to support the construction of overseas communities?
CPChain Wayne: I would like to emphasize that we see CPChain as a participant of the construction of global community rather than the director. CPChain community is a decentralized community. Everyone is welcome to make contribution and everyone is also a part of the decision makers. We will give financial support to the overseas communities, such as bounty and candy rewards. We will launch our global community construction plan after the National Day. Proposers can show us what resources, what language and what kinds of promotion plan you are able to do in the proposal. We will invite qualified proposers to help building the community and to increase the popularity of CPChain in the local society. After the implementation of the CPChain Global Community Construction Plan, we will offer help and support to the community contributors. We are open to all kinds of ideas and we will select the good advice from them.
Q2 : What kinds of rewards CPChain will offer to the community contributors, such as proposer, resource provider?
CPChain Wayne: We will have online and offline rewards. For most of the overseas community builders, we will deliver online rewards at the very beginning, such as airdrop and candy rewards. Let me take Africa Community as an example, the Africa community has experienced an organic growth during the past three weeks and it has more than 600 members at the moment. When the scale of the community has reached to a certain level like Africa communiyu, we think it is a good timing for us to launch offline rewards, such as meetup activity. Everyone who has made contribution to the community, for example, people who share resources, introduce partners or make good translation, is qualified to be awarded. They deserve it. We wouldn’t be hesitant to give them rewards.
Q3 : What is the next step for the Africa community future development?
Hola: We are now planing to promote our community through social media, such as Lindedin, Twitter, Telegram and so on. We also plan to organize events to attract investors and partners. The Africa community is growing fast every day and it is an active community. I believe that the Africa community will have a solid development. We will have an event which is scheduled to held in December or January with the aim of increasing people knowledge of Blockchain and CPChain project.
Q4 : When will CPChain be listed on Binance? Or what exchanges CPChain is going to be listed?
CPChain Wayne: Currently, we are applying to be listed on the exchanges. Binance is one of our applications. We are also applying for two top-tier exchanges but we couldn’t tell their names yet. We hope we can have some good news after the National Day. Huobi and OKcoin are two excellent exchanges but CPChain is not ready to be listed on these two exchanges since it will cost a lot. We will put them in our backup choices. We hope to be listed on big exchanges like Binance through DEX.
Q5 : What are your motivations to start CPChain project?
CPChain Wayne: First of all, I want to clarify that I am not the founder of CPChain project. I am not qualified to take the credits. The founder of CPChain is Dr. Long who has great vision about it. He believes that Blockchain is the chosen technology and it can solve the problems caused by the centralized system. He started CPChain in 2018 when the Bitcoin is worth of $ 20,000. And it is also the peak moment of the development of Blockchain technology. People are passionate about it and regard it as the game-changing technology. After the ups and downs of the blockchain market, the power that keeps pushing us forward is our belief in the CPChain. One of the good things of our team is that we constantly learn from our mistakes. We have never neglected the power of our community and we really hope that we can rely on our community to do the ecology construction. Thank you!
More questions and details can be found in the video.
Video Link:
https://pan.baidu.com/s/1bd7FcN21Wnk4hRCCJ3OV2A
COde: 4111
Node Pacific is the worldwide largest developer of the Staas public chaiN API, operating crowd-sourcing platform and Node operator.
submitted by nodepacific to u/nodepacific [link] [comments]

I think my gf has been involved in some sort of Bit Coin ATM scam. Please HELP!

Ok. So. My girlfriend recently received an email for a job offer from a company claiming to be "Fannie Mae". Her job description basically said she'd be working from home and receiving a commission for doing international transfers for the company to avoid them paying international fees or something along those lines. My gf said she was given a contract and had to give her bank details, passport, ID, registration details, address etc. which seems extremely sketchy and a most recent photo of herself as well. She had to create a skype account to get in contact with her "Manager" who would never call her only use the messaging system, to receive details about the job and what she would be doing exactly.
For my gf's first "assignment" she received an email she was told to print off which was a Money Order from Australia Post of $535.00 AUD. Her manager told her she needed to take the printed document (the money order) to the post office and get the $535.00 in cash. My gf printed the money order, went to the nearest Post Office, had to show ID and all that.. they scanned the money order document, and gave her the $535.00 in cash. My gf then received a QR code via Skype chat, to use at a BitCoin ATM. She apparently was told to use the QR code at the ATM to deposit and transfer $500 too some "client". She only needed to enter a phone number into the ATM and it allowed her to scan the code, deposit $500 cash and transfer it. She was told to keep the $35 for herself. This sounds so bad already but it gets worse ..
For her second assignment she was told to do the exact same thing, but it was nearly $1000 AUD this time. Long story short when my gf went to the Post office to cash in the second money order, the lady at the counter told her it flagged when she scanned it through, I'm guessing as fraudulent or something .. and that she had been told to confiscate the documents and any paperwork.. At this point my girlfriend had kinda clued onto what was going on and realised she'd fucked up .. The lady at the post office was of no help when my girlfriend asked what was going on and if she was doing something wrong, she was extremely confused and a bit uneducated on this stuff as am I.. if anyone can give any information on what we should do or what the backlash might be here.. any feedback would be appreciated. Thank you!
submitted by Zachxry to Scams [link] [comments]

Getting Started With the Tipbot FAST - A Guide for Non-Techy New Users!

Hello, and welcome to IOTA. *insert futuristic music here
 
You're probably here because you just received a tip. Congratulations. You must have done something wonderful. The tip you've received is a special type of crypto currency called 'IOTA.' IOTA was first created in 2015 when our founders realized that to really bring crypto to the masses (human and machine!) you need a way to safely send someone value or data without paying a fee, because even small fees can add up, and that fails to mimic real currency.
 
Enter IOTA.
 
The tip you received lives on reddit servers and is indexed and generated automatically using your username. You can withdraw this tip at anytime to your own private wallet. For a complete guide to the tipbot you can click here. Otherwise, let's continue.
 
If you'd like to tip someone on reddit. Format your tip inside of a comment like this:
 
+1000 iota iotatipbot
 
An 'Iota' is the lowest unit. If you really want to spend big you can give 1 million iota's (aka 'mega' iota) like this:
 
+1 miota iotatipbot
 
The tipbot will also reference the dollar value of your tip.
 
When you properly tip someone or receive a tip yourself you are given a list of links (these links can also be referenced on the sidebar of /iotatipbot). When you click those links it messages the bot to do that action. Just refresh your browser and then check your messages!
 
Ok let's cut to the chase. You're probably wondering. "How much money do I have!?"
 
Currently,
**1 miota is worth
$.55
$1.10
$3.85
if someone tipped you 10 miota you now have in your possession
$5.55
$11
$38.50
worth of IOTA. Play around with different amounts of IOTA and there values here. Did someone tip you 100 or a 1000 'iota'? Sorry, you have less that 1 penny.
 
So, there's a lot you can do with this new found wealth.
 
1.You can leave it in the bot and tip other users. If you tip less then $.01 in value the bot will send them the tip privately so out of courtesy we don't spam message threads.
 
2.You can withdraw your iota. This will require you to install a mobile/web/or desktop wallet. Since IOTA uses a different system then bitcoin the wallet will be a little different then a BTC wallet. Follow instructions carefully.
 
3.You can deposit to your reddit username wallet using the 'deposit' link. This is a little more complicated, especially if you don't own any crypto. You'll need to buy some ETH or BTC on an exchange with a bank transfer then send the ETH or BTC to one of our two participating exchanges Bitfinex and Binance. Hopefully in the near future we will have more ways to buy IOTA!
 
A few of you might be thinking:
 
"HEY BUDDY. I don't want to deal with any of this crap! I just want some cold hard cash!"
 
Ok, got it, no need to yell! Let's say someone tipped you a good amount and you want cash as quickly as possible. The best way to do that at this time is to open a Binance account, withdraw your IOTA directly to it, sell it for BTC, send the BTC to a mobile wallet and locate a BTC ATM near you. Finally, sell your BTC for cash at that ATM. You can also find real people to sell BTC to at meetups and localbitcoins.com. No ATM? Some exchanges allow bank transfers but this may be slower.
 
In the future we hope to have an Android/IOS wallet that you can convert your IOTA on the fly to BTC while you're driving to an ATM! Although, you might want to think twice about selling your IOTA, it may grow in value exponentially! Track it here.
 
Hope all this helped! If you're looking for more detailed help on how to set up a wallet, how to use exchanges, blockchain vs DAG, total supply, market cap, machines using IOTA (m2m) or the complete vision of IOTA. Check out the sidebar and stickied links on /iota.
 
Once again WELCOME!
 
edit 1: removed 'glorious'
 
edit 2: Bot is now private below $.01 value threshold.
 
edit 3: We also have a second tip bot functioning called 'tanglepayTipBot'
discussion thread
wiki
tip like this
tanglepay +$.05
 
Edit 4. Are you VERY new to crypto?
 
These three videos are helpful
 
L2 - The Innovation Is the Blockchain
L2 - A Primer on Crypto Currencies
Tangle vs Blockchain
submitted by JackGetsIt to Iota [link] [comments]

World History Timeline of Events Leading up to Bitcoin - In the Making

A (live/editable) timeline of historical events directly or indirectly related to the creation of Bitcoin and Cryptocurrencies
*still workin' on this so check back later and more will be added, if you have any suggested dates/events feel free to lemme know...
This timeline includes dates pertaining to:
Ancient Bartering – first recorded in Egypt (resources, services...) – doesn’t scale
Tally sticks were used, making notches in bones or wood, as a form of money of account
9000-6000 BC Livestock considered the first form of currency
c3200 BC Clay tablets used in Uruk (Iraq) for accounting (believed to be the earliest form of writing)
3000 BC Grain is used as a currency, measured out in Shekels
3000 BC Banking developed in Mesopotamia
3000 BC? Punches used to stamp symbols on coins were a precursor to the printing press and modern coins
? BC Since ancient Persia and all the way up until the invention and expansion of the telegraph Homing Pigeons were used to carry messages
2000 BC Merchants in Assyria, India and Sumeria lent grain to farmers and traders as a precursor to banks
1700 BC In Babylon at the time of Hammurabi, in the 18th century BC, there are records of loans made by the priests of the temple.
1200 BC Shell money first used in China
1000-600 BC Crude metal coins first appear in China
640 BC Precious metal coins – Gold & Silver first used in ancient Lydia and coastal Greek cities featuring face to face heads of a bull and a lion – first official minted currency made from electrum, a mixture of gold and silver
600-500 BC Atbash Cipher
A substitution Cipher used by ancient Hebrew scholars mapping the alphabet in reverse, for example, in English an A would be a Z, B a Y etc.
400 BC Skytale used by Sparta
474 BC Hundreds of gold coins from this era were discovered in Rome in 2018
350 BC Greek hydraulic semaphore system, an optical communication system developed by Aeneas Tacticus.
c200 BC Polybius Square
??? Wealthy stored coins in temples, where priests also lent them out
??? Rome was the first to create banking institutions apart from temples
118 BC First banknote in the form of 1 foot sq pieces of white deerskin
100-1 AD Caesar Cipher
193 Aureus, a gold coin of ancient Rome, minted by Septimius Severus
324 Solidus, pure gold coin, minted under Constantine’s rule, lasted until the late 8th century
600s Paper currency first developed in Tang Dynasty China during the 7th century, although true paper money did not appear until the 11th century, during the Song Dynasty, 960–1279
c757–796 Silver pennies based on the Roman denarius became the staple coin of Mercia in Great Britain around the time of King Offa
806 First paper banknotes used in China but isn’t widely accepted in China until 960
1024 The first series of standard government notes were issued in 1024 with denominations like 1 guàn (貫, or 700 wén), 1 mín (緡, or 1000 wén), up to 10 guàn. In 1039 only banknotes of 5 guàn and 10 guàn were issued, and in 1068 a denomination of 1 guàn was introduced which became forty percent of all circulating Jiaozi banknotes.
1040 The first movable type printer was invented in China and made of porcelain
? Some of the earliest forms of long distance communication were drums used by Native Africans and smoke signals used by Native Americans and Chinese
1088 Movable type in Song Dynasty China
1120 By the 1120s the central government officially stepped in and produced their own state-issued paper money (using woodblock printing)
1150 The Knights Templar issued bank notes to pilgrims. Pilgrims deposited their valuables with a local Templar preceptory before embarking, received a document indicating the value of their deposit, then used that document upon arrival in the Holy Land to retrieve their funds in an amount of treasure of equal value.
1200s-1300s During the 13th century bankers from north Italy, collectively known as Lombards, gradually replace the Jews in their traditional role as money-lenders to the rich and powerful. – Florence, Venice and Genoa - The Bardi and Peruzzi Families dominated banking in 14th century Florence, establishing branches in many other parts of Europe
1200 By the time Marco Polo visited China they’d move from coins to paper money, who introduced the concept to Europe. An inscription warned, "All counterfeiters will be decapitated." Before the use of paper, the Chinese used coins that were circular, with a rectangular hole in the middle. Several coins could be strung together on a rope. Merchants in China, if they became rich enough, found that their strings of coins were too heavy to carry around easily. To solve this problem, coins were often left with a trustworthy person, and the merchant was given a slip of paper recording how much money they had with that person. Marco Polo's account of paper money during the Yuan Dynasty is the subject of a chapter of his book, The Travels of Marco Polo, titled "How the Great Kaan Causeth the Bark of Trees, Made Into Something Like Paper, to Pass for Money All Over his Country."
1252 Florin minted in Florence, becomes the hard currency of its day helping Florence thrive economically
1340 Double-entry bookkeeping - The clerk keeping the accounts for the Genoese firm of Massari painstakingly fills in the ledger for the year 1340.
1397 Medici Bank established
1450 Johannes Gutenberg builds the printing press – printed words no longer just for the rich
1455 Paper money disappears from China
1466 Polyalphabetic Cipher
1466 Rotating cipher disks – Vatican – greatest crypto invention in 1000 yrs – the first system to challenge frequency analysis
1466 First known mechanical cipher machine
1472 The oldest bank still in existence founded, Banca Monte dei Paschi di Siena, headquartered in Siena, Italy
1494 Double-entry bookkeeping system codified by Luca Pacioli
1535 Wampum, a form of currency used by Native Americans, a string of beads made from clamshells, is first document.
1553 Vigenere Cipher
1557 Phillip II of Spain managed to burden his kingdom with so much debt (as the result of several pointless wars) that he caused the world's first national bankruptcy — as well as the world's second, third and fourth, in rapid succession.
1577 Newspaper in Korea
1586 The Babington Plot
1590 Cabinet Noir was established in France. Its mission was to open, read and reseal letters, and great expertise was developed in the restoration of broken seals. In the knowledge that mail was being opened, correspondents began to develop systems to encrypt and decrypt their letters. The breaking of these codes gave birth to modern systematic scientific code breaking.
1600s Promissory banknotes began in London
1600s By the early 17th century banking begins also to exist in its modern sense - as a commercial service for customers rather than kings. – Late 17th century we see cheques slowly gains acceptance
The total of the money left on deposit by a bank's customers is a large sum, only a fraction of which is usually required for withdrawals. A proportion of the rest can be lent out at interest, bringing profit to the bank. When the customers later come to realize this hidden value of their unused funds, the bank's profit becomes the difference between the rates of interest paid to depositors and demanded from debtors.
The transformation from moneylenders into private banks is a gradual one during the 17th and 18th centuries. In England it is achieved by various families of goldsmiths who early in the period accept money on deposit purely for safe-keeping. Then they begin to lend some of it out. Finally, by the 18th century, they make banking their business in place of their original craft as goldsmiths.
1605 Newspaper in Straussburg
c1627 Great Cipher
1637 Wampum is declared as legal tender in the U.S. (where we got the slang word “clams” for money)
1656 Johan Palmstruch establishes the Stockholm Banco
1661 Paper Currency reappears in Europe, soon became common - The goldsmith-bankers of London began to give out the receipts as payable to the bearer of the document rather than the original depositor
1661 Palmstruch issues credit notes which can be exchanged, on presentation to his bank, for a stated number of silver coins
1666 Stockholms Banco, the predecessor to the Central Bank of Sweden issues the first paper money in Europe. Soon went bankrupt for printing too much money.
1667 He issues more notes than his bank can afford to redeem with silver and winds up in disgrace, facing a death penalty (commuted to imprisonment) for fraud.
1668 Bank of Sweden – today the 2nd oldest surviving bank
1694 First Central Bank established in the UK was the first bank to initiate the permanent issue of banknotes
Served as model for most modern central banks.
The modern banknote rests on the assumption that money is determined by a social and legal consensus. A gold coin's value is simply a reflection of the supply and demand mechanism of a society exchanging goods in a free market, as opposed to stemming from any intrinsic property of the metal. By the late 17th century, this new conceptual outlook helped to stimulate the issue of banknotes.
1700s Throughout the commercially energetic 18th century there are frequent further experiments with bank notes - deriving from a recognized need to expand the currency supply beyond the availability of precious metals.
1710 Physiocracy
1712 First commercial steam engine
1717 Master of the Royal Mint Sir Isaac Newton established a new mint ratio between silver and gold that had the effect of driving silver out of circulation (bimetalism) and putting Britain on a gold standard.
1735 Classical Economics – markets regulate themselves when free of intervention
1744 Mayer Amschel Rothschild, Founder of the Rothschild Banking Empire, is Born in Frankfurt, Germany
Mayer Amschel Rothschild extended his banking empire across Europe by carefully placing his five sons in key positions. They set up banks in Frankfurt, Vienna, London, Naples, and Paris. By the mid 1800’s they dominated the banking industry, lending to governments around the world and people such as the Vanderbilts, Carnegies, and Cecil Rhodes.
1745 There was a gradual move toward the issuance of fixed denomination notes in England standardized printed notes ranging from £20 to £1,000 were being printed.
1748 First recorded use of the word buck for a dollar, stemming from the Colonial period in America when buck skins were commonly traded
1757 Colonial Scrip Issued in US
1760s Mayer Amschel Rothschild establishes his banking business
1769 First steam powered car
1775-1938 US Diplomatic Codes & Ciphers by Ralph E Weber used – problems were security and distribution
1776 American Independence
1776 Adam Smith’s Invisible Hand theory helped bankers and money-lenders limit government interference in the banking sector
1781 The Bank of North America was a private bank first adopted created the US Nation's first de facto central bank. When shares in the bank were sold to the public, the Bank of North America became the country's first initial public offering. It lasted less than ten years.
1783 First steamboat
1791 Congress Creates the First US Bank – A Private Company, Partly Owned by Foreigners – to Handle the Financial Needs of the New Central Government. First Bank of the United States, a National bank, chartered for a term of twenty years, it was not renewed in 1811.
Previously, the 13 states had their own banks, currencies and financial institutions, which had an average lifespan of about 5 years.
1792 First optical telegraph invented where towers with telescopes were dispersed across France 12-25 km apart, relaying signals according to positions of arms extended from the top of the towers.
1795 Thomas Jefferson invents the Jefferson Disk Cipher or Wheel Cipher
1797 to 1821 Restriction Period by England of trading banknotes for silver during Napoleonic Wars
1797 Currency Crisis
Although the Bank was originally a private institution, by the end of the 18th century it was increasingly being regarded as a public authority with civic responsibility toward the upkeep of a healthy financial system.
1799 First paper machine
1800 Banque de France – France’s central bank opens to try to improve financing of the war
1800 Invention of the battery
1801 Rotchschild Dynasty begins in Frankfurt, Holy Roman Empire – established international banking family through his 5 sons who established themselves in London, Paris, Frankfurt, Vienna, and Naples
1804 Steam locomotive
1807 Internal combustion engine and automobile
1807 Robert Fulton expands water transportation and trade with the workable steamboat.
1809 Telegraphy
1811 First powered printing press, also first to use a cylinder
1816 The Privately Owned Second Bank of the US was Chartered – It Served as the Main Depository for Government Revenue, Making it a Highly Profitable Bank – charter not renewed in 1836
1816 The first working telegraph was built using static electricity
1816 Gold becomes the official standard of value in England
1820 Industrial Revolution
c1820 Neoclassical Economics
1821 British gov introduces the gold standard - With governments issuing the bank notes, the inherent danger is no longer bankruptcy but inflation.
1822 Charles Babbage, considered the "father of the computer", begins building the first programmable mechanical computer.
1832 Andrew Jackson Campaigns Against the 2nd Bank of the US and Vetoes Bank Charter Renewal
Andrew Jackson was skeptical of the central banking system and believed it gave too few men too much power and caused inflation. He was also a proponent of gold and silver and an outspoken opponent of the 2nd National Bank. The Charter expired in 1836.
1833 President Jackson Issues Executive Order to Stop Depositing Government Funds Into Bank of US
By September 1833, government funds were being deposited into state chartered banks.
1833-1837 Manufactured “boom” created by central bankers – money supply Increases 84%, Spurred by the 2nd Bank of the US
The total money supply rose from $150 million to $267 million
1835 Jackson Escapes Assassination. Assassin misfired twice.
1837-1862 The “Free Banking Era” there was no formal central bank in the US, and banks issued their own notes again
1838 First Telegram sent using Morse Code across 3 km, in 1844 he sent a message across 71 km from Washington DC to Baltimore.
1843 Ada Lovelace published the first algorithm for computing
1844 Modern central bank of England established - meaning only the central bank of England could issue banknotes – prior to that commercial banks could issue their own and were the primary form of currency throughout England
the Bank of England was restricted to issue new banknotes only if they were 100% backed by gold or up to £14 million in government debt.
1848 Communist Manifesto
1850 The first undersea telegraphic communications cable connected France in England after latex produced from the sap of the Palaquium gutta tree in 1845 was proposed as insulation for the underwater cables.
1852 Many countries in Europe build telegram networks, however post remained the primary means of communication to distant countries.
1855 In England fully printed notes that did not require the name of the payee and the cashier's signature first appeared
1855 The printing telegraph made it possible for a machine with 26 alphabetic keys to print the messages automatically and was soon adopted worldwide.
1856 Belgian engineer Charles Bourseul proposed telephony
1856 The Atlantic Telegraph company was formed in London to stretch a commercial telegraph cable across the Atlantic Ocean, completed in 1866.
1860 The Pony Express was founded, able to deliver mail of wealthy individuals or government officials from coast to coast in 10 days.
1861 The East coast was connected to the West when Western Union completed the transcontinental telegraph line, putting an end to unprofitable The Pony Express.
1862-1863 First US banknotes - Lincoln Over Rules Debt-Based Money and Issues Greenbacks to Fund Civil War
Bankers would only lend the government money under certain conditions and at high interest rates, so Lincoln issued his own currency – “greenbacks” – through the US Treasury, and made them legal tender. His soldiers went on to win the war, followed by great economic expansion.
1863 to 1932 “National Banking Era” Commercial banks in the United States had legally issued banknotes before there was a national currency; however, these became subject to government authorization from 1863 to 1932
1864 Friedrich Wilhelm Raiffeisen founded the first rural credit union in Heddesdorf (now part of Neuwied) in Germany. By the time of Raiffeisen's death in 1888, credit unions had spread to Italy, France, the Netherlands, England, Austria, and other nations
1870 Long-distance telegraph lines connected Britain and India.
c1871 Marginalism - The doctrines of marginalism and the Marginal Revolution are often interpreted as a response to the rise of the worker's movement, Marxian economics and the earlier (Ricardian) socialist theories of the exploitation of labour.
1871 Carl Menger’s Principles of Economics – Austrian School
1872 Marx’s Das Capital
1872 Australia becomes the first nation to be connected to the rest of the world via submarine telegraph cables.
1876 Alexander Graham Bell patented the telephone, first called the electric speech machine – revolutionized communication
1877 Thomas Edison – Phonograph
1878 Western Union, the leading telegraph provider of the U.S., begins to lose out to the telephone technology of the National Bell Telephone Company.
1881 President James Garfield, Staunch Proponent of “Honest Money” Backed by Gold and Silver, was Assassinated
Garfield opposed fiat currency (money that was not backed by any physical object). He had the second shortest Presidency in history.
1882 First description of the one-time pad
1886 First gas powered car
1888 Ballpoint pen
1892 Cinematograph
1895 System of wireless communication using radio waves
1896 First successful intercontinental telegram
1898 Polyethylene
1899 Nickel-cadmium battery
1907 Banking Panic of 1907
The New York Stock Exchange dropped dramatically as everyone tried to get their money out of the banks at the same time across the nation. This banking panic spurred debate for banking reform. JP Morgan and others gathered to create an image of concern and stability in the face of the panic, which eventually led to the formation of the Federal Reserve. The founders of the Federal Reserve pretended like the bankers were opposed to the idea of its formation in order to mislead the public into believing that the Federal Reserve would help to regulate bankers when in fact it really gave even more power to private bankers, but in a less transparent way.
1908 St Mary’s Bank – first credit union in US
1908 JP Morgan Associate and Rockefeller Relative Nelson Aldrich Heads New National Monetary Commission
Senate Republican leader, Nelson Aldrich, heads the new National Monetary Commission that was created to study the cause of the banking panic. Aldrich had close ties with J.P. Morgan and his daughter married John D. Rockefeller.
1910 Bankers Meet Secretly on Jekyll Island to Draft Federal Reserve Banking Legislation
Over the course of a week, some of the nation’s most powerful bankers met secretly off the coast of Georgia, drafting a proposal for a private Central Banking system.
1913 Federal Reserve Act Passed
Two days before Christmas, while many members of Congress were away on vacation, the Federal Reserve Act was passed, creating the Central banking system we have today, originally with gold backed Federal Reserve Notes. It was based on the Aldrich plan drafted on Jekyll Island and gave private bankers supreme authority over the economy. They are now able to create money out of nothing (and loan it out at interest), make decisions without government approval, and control the amount of money in circulation.
1913 Income tax established -16th Amendment Ratified
Taxes ensured that citizens would cover the payment of debt due to the Central Bank, the Federal Reserve, which was also created in 1913.The 16th Amendment stated: “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”
1914 November, Federal Reserve Banks Open
JP Morgan and Co. Profits from Financing both sides of War and Purchasing Weapons
J.P. Morgan and Co. made a deal with the Bank of England to give them a monopoly on underwriting war bonds for the UK and France. They also invested in the suppliers of war equipment to Britain and France.
1914 WWI
1917 Teletype cipher
1917 The one-time pad
1917 Zimmerman Telegram intercepted and decoded by Room 40, the cryptanalysis department of the British Military during WWI.
1918 GB returns to gold standard post-war but it didn’t work out
1919 First rotor machine, an electro-mechanical stream ciphering and decrypting machine.
1919 Founding of The Cipher Bureau, Poland’s intelligence and cryptography agency.
1919-1929 The Black Chamber, a forerunner of the NSA, was the first U.S. cryptanalytic organization. Worked with the telegraph company Western Union to illegally acquire foreign communications of foreign embassies and representatives. It was shut down in 1929 as funding was removed after it was deemed unethical to intercept private domestic radio signals.
1920s Department stores, hotel chains and service staions begin offering customers charge cards
1921-1929 The “Roaring 20’s” – The Federal Reserve Floods the Economy with Cash and Credit
From 1921 to 1929 the Federal Reserve increased the money supply by $28 billion, almost a 62% increase over an eight-year period.[3] This artificially created another “boom”.
1927 Quartz clock
1928 First experimental Television broadcast in the US.
1929 Federal Reserve Contracts the Money Supply
In 1929, the Federal Reserve began to pull money out of circulation as loans were paid back. They created a “bust” which was inevitable after issuing so much credit in the years before. The Federal Reserve’s actions triggered the banking crisis, which led to the Great Depression.
1929 October 24, “Black Thursday”, Stock Market Crash
The most devastating stock market crash in history. Billions of dollars in value were consolidated into the private banker’s hands at the expense of everyone else.
1930s The Great Depression marked the end of the gold standard
1931 German Enigma machines attained and reconstructed.
1932 Turbo jet engine patented
1933 SEC founded - passed the Glass–Steagall Act, which separated investment banking and commercial banking. This was to avoid more risky investment banking activities from ever again causing commercial bank failures.
1933 FM Radio
1933 Germany begins Telex, a network of teleprinters sending and receiving text based messages. Post WWII Telex networks began to spread around the world.
1936 Austrian engineer Paul Eisler invented Printed circuit board
1936 Beginning of the Keynesian Revolution
1937 Typex, British encryption machines which were upgraded versions of Enigma machines.
1906 Teletypewriters
1927 Founding of highly secret and unofficial Signal Intelligence Service, SIS, the U.S. Army’s codebreaking division.
1937 Made illegal for Americans to own gold
1938 Z1 built by Konrad Zuse is the first freely programmable computer in the world.
1939 WWII – decline of the gold standard which greatly restricted policy making
1939-45 Codetalkers - The Navajo code is the only spoken military code never to have been deciphered - "Were it not for the Navajos, the Marines would never have taken Iwo Jima."—Howard Connor
1940 Modems
1942 Deciphering Japanese coded messages leads to a turning point victory for the U.S. in WWII.
1943 At Bletchley Park, Alan Turing and team build a specialized cipher-breaking machine called Heath Robinson.
1943 Colossus computer built in London to crack the German Lorenz cipher.
1944 Bretton Woods – convenient after the US had most of the gold
1945 Manhattan Project – Atom Bomb
1945 Transatlantic telephone cable
1945 Claude E. Shannon published "A mathematical theory of cryptography", commonly accepted as the starting point for development of modern cryptography.
C1946 Crypto Wars begin and last to this day
1946 Charg-it card created by John C Biggins
1948 Atomic clock
1948 Claude Shannon writes a paper that establishes the mathematical basis of information theory
1949 Info theorist Claude Shannon asks “What does an ideal cipher look like?” – one time pad – what if the keys are not truly random
1950 First credit card released by the Diners Club, able to be used in 20 restaurants in NYC
1951 NSA, National Security Agency founded and creates the KL-7, an off-line rotor encryption machine
1952 First thermonuclear weapon
1953 First videotape recorder
1953 Term “Hash” first used meaning to “chop” or “make a mess” out of something
1954 Atomic Energy Act (no mention of crypto)
1957 The NSA begins producing ROMOLUS encryption machines, soon to be used by NATO
1957 First PC – IBM
1957 First Satellite – Sputnik 1
1958 Western Union begins building a nationwide Telex network in the U.S.
1960s Machine readable codes were added to the bottom of cheques in MICR format, which speeded up the clearing and sorting process
1960s Financial organizations were beginning to require strong commercial encryption on the rapidly growing field of wired money transfer.
1961 Electronic clock
1963 June 4, Kennedy Issued an Executive Order (11110) that Authorized the US Treasury to Issue Silver Certificates, Threatening the Federal Reserve’s Monopoly on Money
This government issued currency would bypass the governments need to borrow from bankers at interest.
1963 Electronic calculator
1963 Nov. 22, Kennedy Assassinated
1963 Johnson Reverses Kennedy’s Banking Rule and Restores Power to the Federal Reserve
1964 8-Track
1964 LAN, Local Area Networks adapters
1965 Moore’s Law by CEO of Intel Gordon Moore observes that the number of components per integrated circuit doubles every year, and projected this rate of growth would continue for at least another decade. In 1975 he revised it to every two years.
1967 First ATM installed at Barclay’s Bank in London
1968 Cassette Player introduced
1969 First connections of ARPANET, predecessor of the internet, are made. started – SF, SB, UCLA, Utah (now Darpa) – made to stay ahead of the Soviets – there were other networks being built around the world but it was very hard to connect them – CERN in Europe
1970s Stagflation – unemployment + inflation, which Keynesian theory could not explain
1970s Business/commercial applications for Crypto emerge – prior to this time it was militarily used – ATMs 1st got people thinking about commercial applications of cryptography – data being sent over telephone lines
1970s The public developments of the 1970s broke the near monopoly on high quality cryptography held by government organizations.
Use of checks increased in 70s – bringing about ACH
One way functions...
A few companies began selling access to private networks – but weren’t allowed to connect to the internet – business and universities using Arpanet had no commercial traffic – internet was used for research, not for commerce or advertising
1970 Railroads threatened by the growing popularity of air travel. Penn Central Railroad declares bankruptcy resulting in a $3.2 billion bailout
1970 Conjugate coding used in an attempt to design “money physically impossible to counterfeit”
1971 The US officially removes the gold standard
1971 Email invented
1971 Email
1971 First microcomputer on a chip
1971 Lockheed Bailout - $1.4 billion – Lockheed was a major government defense contractor
1972 First programmable word processor
1972 First video game console
1973 SWIFT established
1973 Ethernet invented, standardized in ‘83
1973 Mobile phone
1973 First commercial GUI – Xerox Alto
1973 First touchscreen
1973 Emails made up more than ¾ of ARPANET’s packets – people had to keep a map of the network by their desk – so DNS was created
1974 A protocol for packet network intercommunication – TCP/IP – Cerf and Kahn
1974 Franklin National Bank Bailout - $1.5 billion (valued at that time) - At the time, it was the largest bank failure in US history
1975 New York City Bailout - $9.4 billion – NYC was overextended
1975 W DES - meant that commercial uses of high quality encryption would become common, and serious problems of export control began to arise.
1975 DES, Data Encryption Standard developed at IBM, seeking to develop secure electronic communications for banks and large financial organizations. DES was the first publicly accessible cipher to be 'blessed' by a national agency such as the NSA. Its release stimulated an explosion of public and academic interest in cryptography.
1975 Digital camera
1975 Altair 8800 sparks the microprocessor revolution
1976 Bretton Woods ratified (lasted 30 years) – by 80’s all nations were using floating currencies
1976 New Directions in Cryptography published by Diffie & Hellman – this terrified Fort Meade – previously this technique was classified, now it’s public
1976 Apple I Computer – Steve Wozniak
1976 Asymmetric key cryptosystem published by Whitfield Diffie and Martin Hellman.
1976 Hellman and Diffie publish New Directions in Cryptography, introducing a radically new method of distributing cryptographic keys, contributing much to solving key distribution one of the fundamental problems of cryptography. It brought about the almost immediate public development of asymmetric key algorithms. - where people can have 2 sets of keys, public and private
1977 Diffie & Hellman receive letter from NSA employee JA Meyer that they’re violating Federal Laws comparable to arms export – this raises the question, “Can the gov prevent academics from publishing on crypto?
1977 DES considered insecure
1977 First handheld electronic game
1977 RSA public key encryption invented
1978 McEliece Cryptosystem invented, first asymmetric encryption algorithm to use randomization in the encryption process
1980s Large data centers began being built to store files and give users a better faster experience – companies rented space from them - Data centers would not only store data but scour it to show people what they might want to see and in some cases, sell data
1980s Reaganomics and Thatcherism
1980 A decade of intense bank failures begins; the FDIC reports that 1,600 were either closed or received financial assistance from 1980 to 1994
1980 Chrysler Bailout – lost over $1 billion due to major hubris on the part of its executives - $1.5 billion one of the largest payouts ever made to a single corporation.
1980 Protocols for public key cryptosystems – Ralph Merkle
1980 Flash memory invented – public in ‘84
1981 “Untraceable Electronic Mail, Return Addresses and Digital Pseudonumns” – Chaum
1981 EFTPOS, Electronic funds transfer at point of sale is created
1981 IBM Personal Computer
1982 “The Ethics of Liberty” Murray Rothbard
1982 Commodore 64
1982 CD
1983 Satellite TV
1983 First built in hard drive
1983 C++
1983 Stereolithography
1983 Blind signatures for untraceable payments
Mid 1980s Use of ATMs becomes more widespread
1984 Continental Illinois National Bank and Trust bailed out due to overly aggressive lending styles and - the bank’s downfall could be directly traced to risk taking and a lack of due diligence on the part of bank officers - $9.5 billion in 2008 money
1984 Macintosh Computer - the first mass-market personal computer that featured a graphical user interface, built-in screen and mouse
1984 CD Rom
1985 Zero-Knowledge Proofs first proposed
1985 300,000 simultaneous telephone conversations over single optical fiber
1985 Elliptic Curve Cryptography
1987 ARPANET had connected over 20k guarded computers by this time
1988 First private networks email servers connected to NSFNET
1988 The Crypto Anarchists Manifesto – Timothy C May
1988 ISDN, Integrated Services Digital Network
1989 Savings & Loan Bailout - After the widespread failure of savings and loan institutions, President George H. W. Bush signed and Congress enacted the Financial Institutions Reform Recovery and Enforcement Act - This was a taxpayer bailout of about $200 billion
1989 First commercial emails sent
1989 Digicash - Chaum
1989 Tim Berners-Lee and Robert Cailliau built the prototype system which became the World Wide Web, WWW
1989 First ISPs – companies with no network of their own which connected people to a local network and to the internet - To connect to a network your computer placed a phone call through a modem which translated analog signals to digital signals – dial-up was used to connect computers as phone lines already had an extensive network across the U.S. – but phone lines weren’t designed for high pitched sounds that could change fast to transmit large amounts of data
1990s Cryptowars really heat up...
1990s Some countries started to change their laws to allow "truncation"
1990s Encryption export controls became a matter of public concern with the introduction of the personal computer. Phil Zimmermann's PGP cryptosystem and its distribution on the Internet in 1991 was the first major 'individual level' challenge to controls on export of cryptography. The growth of electronic commerce in the 1990s created additional pressure for reduced restrictions.[3] Shortly afterward, Netscape's SSL technology was widely adopted as a method for protecting credit card transactions using public key cryptography.
1990 NSFNET replaced Arpanet as backbone of the internet with more than 500k users
Early 90s Dial up provided through AOL and Compuserve
People were leery to use credit cards on the internet
1991 How to time-stamp a digital doc - Stornetta
1991 Phil Zimmermann releases the public key encryption program Pretty Good Privacy (PGP) along with its source code, which quickly appears on the Internet. He distributed a freeware version of PGP when he felt threatened by legislation then under consideration by the US Government that would require backdoors to be included in all cryptographic products developed within the US. Expanded the market to include anyone wanting to use cryptography on a personal computer (before only military, governments, large corporations)
1991 WWW (Tim Berners Lee) – made public in ‘93 – flatten the “tree” structure of the internet using hypertext – reason for HTTP//:WWW – LATER HTTPS for more security
1992 Erwise – first Internet Browser w a graphical Interface
1992 Congress passed a law allowing for commercial traffic on NSFNET
1992 Cpherpunks, Eric Hughes, Tim C May and John Gilmore – online privacy and safety from gov – cypherpunks write code so it can be spread and not shut down (in my earlier chapter)
1993 Mosaic – popularized surfing the web ‘til Netscape Navigator in ’94 – whose code was later used in Firefox
1993 A Cypherpunks Manifesto – Eric Hughes
1994 World’s first online cyberbank, First Virtual, opened for business
1994 Bluetooth
1994 First DVD player
1994 Stanford Federal Credit Union becomes the first financial institution to offer online internet banking services to all of its members in October 1994
1994 Internet only used by a few
1994 Cybercash
1994 Secure Sockets Layer (SSL) encryption protocol released by Netscape. Making financial transactions possible.
1994 One of the first online purchases was made, a Pizza Hut pepperoni pizza with mushrooms and extra cheese
1994 Cyphernomicon published – social implication where gov can’t do anything about it
1994-1999 Social Networking – GeoCities (combining creators and users) – had 19M users by ’99 – 3rd most popular after AOL and Yahoo – GeoCities purchased by Yahoo for $3.6B but took a hit after dotcom bubble popped and never recovered – GC shut down in ‘99
1995-2000 Dotcom bubble – Google, Amazon, Facebook: get over 600M visitors/year
1995 DVD
1995 MP3 term coined for MP3 files, the earlier development of which stretches back into the ‘70s, where MP files themselves where developed throughout the ‘90s
1995 NSFNET shut down and handed everything over to the ISPs
1995 NSA publishes the SHA1 hash algorithm as part of its Digital Signature Standard.
1996, 2000 President Bill Clinton signing the Executive order 13026 transferring the commercial encryption from the Munition List to the Commerce Control List. This order permitted the United States Department of Commerce to implement rules that greatly simplified the export of proprietary and open source software containing cryptography, which they did in 2000 - The successful cracking of DES likely helped gather both political and technical support for more advanced encryption in the hands of ordinary citizens - NSA considers AES strong enough to protect information classified at the Top Secret level
1996 e-gold
1997 WAP, Wireless Access Point
1997 NSA researchers published how to mint e cash
1997 Adam Back – HashCash – used PoW – coins could only be used once
1997 Nick Szabo – smart contracts “Formalizing and Securing Relationships on Public Networks”
1998 OSS, Open-source software Initiative Founded
1998 Wei Dai – B-money – decentralized database to record txs
1998 Bitgold
1998 First backdoor created by hackers from Cult of the Dead Cow
1998 Musk and Thiel founded PayPal
1998 Nick Szabo says crypto can protect land titles even if thugs take it by force – said it could be done with a timestamped database
1999 Much of the Glass-Steagal Act repealed - this saw US retail banks embark on big rounds of mergers and acquisitions and also engage in investment banking activities.
1999 Milton Friedman says, “I think that the Internet is going to be one of the major forces for reducing the role of government. The one thing that's missing, but that will soon be developed, is a reliable e-cash - a method whereby on the Internet you can transfer funds from A to B without A knowing B or B knowing A.”
1999 European banks began offering mobile banking with the first smartphones
1999 The Financial Services Modernization Act Allows Banks to Grow Even Larger
Many economists and politicians have recognized that this legislation played a key part in the subprime mortgage crisis of 2007.
1999-2001 Napster, P2P file sharing – was one of the fastest growing businesses in history – bankrupt for paying musicians for copyright infringement

submitted by crypto_jedi_ninja to Bitcoin [link] [comments]

Auscoin ICO is an underwhelming fraud

Auscoin ICO review I want to give my fact based review on a upcoming Australian ICO https://www.auscoin.io/ Abstract: AUSCOIN plans to introduce 1200 atm's into the market over 12 months and release a cryptocurrency token that rewards holders of the token with cheaper ATM fees, with supplementary plans to roll this out to over 1000 merchants for POS use in a 12 month period. This ATM rollout has been widely touted in social media and the press as costing $15,000,000. They plan to fund this rollout by selling 50,000,000 tokens at $1 each.
The Auscoin token: I cannot justify a legitimate valid use for the token at this time. The Whitepaper focusses on the ATM business and virtually skips over the token and its uses. Notwithstanding a very underwhelming description of possible merchant adoption, token use is not mentioned at all in the latest whitepaper. The token creation seems to be a secondary effect of funding the ATM roll out, given almost all of the literature focusses on this side of the business. In addition, even though the ICO will fund the ATM businesses, this is a wholly separate business entity and the success of AUSCOIN ATM PTY. LTD. does not translate to the success of AUSCOIN the token. Even if AUSCOIN were to influence over 1000 retail businesses to adopt AUSCOIN merchant facilities, this represents a miniscule fraction of Australian retail businesses. This represents no significant gain over any other token in the market and we are worried about the security implications of using a token as a significant means of means of retail exchange. Further to this point retail statistics show retail spending is slumping to new lows and adoption of any new technology will be a hard sell in the current atmosphere.
Sub conclusion: With the significant capital raised ($50million) there enough budget to create a standalone block chain that could combine PoW and PoS. This would provide holders and miners significant rewards to secure the network. A coin with its own network would represent a sizable improvement on economics, security and fundamental use to both holders and retailers equally over AUSCOIN’s current choice of erc20 token.
Token Benefits: Reference for this section - Auscoin whitepaper(a) and Video explanation of token benefits(b)
a. https://www.auscoin.io/static/assets/documentation/AUSCOIN-Whitepaper.pdf
b. https://www.facebook.com/auscoinico/videos/240235636516652/
1. Merchant/Retail use: As formerly discussed I find this underwhelming. Lest we can begin to reach a level of adoption unheard of in the rest of the developed world, the AUSCOIN token will be useable in 1 in 10,000 stores at best. Until AUSCOIN can reach a level of adoption nearing 10%, it will remain a underutilized or unused asset for retail. Sections 2 through 4 reference(b) the AUSCOIN token video. This revolves around the claim 1% of all transactions will be put back into the AUSCOIN network.
2. “50% is put straight back into AUSCOIN and kept in an AUSCOIN secure wallet” This assertion is purposely misleading. There is no explanation if this is to purchase AUSCOIN tokens or to be kept in a wallet owned by AUSCOIN. If it is to purchase AUSCOIN tokens, this makes AUSCOIN a security and will not pass the tests put forward by ASIC. If it is to be kept in a bitcoin or other crypto wallet (non AUSCOIN network) than this is purposely misleading and deceiving advertising. https://www.accc.gov.au/consumers/misleading-claims-advertising/false-or-misleading-claims
3. HODL Club: 25% goes to fee reduction. To access rewards in the HODL club you need to hold a minimum of 10,000 tokens ($10,000 at ICO price). There is no specification on how much you will save, this is not documented anywhere nor has this question ever been answered by the team to our knowledge. There is estimated 7-8% of hidden fees attached to each transaction with wildly varying spot rates. We find the cost of AUSCOIN ATM BTC to not come close to major exchanges and the spreads to unfairly disadvantage sellers. There is no details of how much you will save and with a minimum $10,000 outlay to enter this club, the price of entry would greatly outweigh the savings over a year of buying for almost all users in the network.
4. 25% is reserved for gateway users and will be distributed among the users of the gateway. This is not described in the whitepaper. We have no idea what the gateway will actually enable due to the lack of any documentation, but if this rewards users tokens then again constitutes a security.
Tokenomics: Of the 100,000,000 Tokens generated by AUSCOIN, 50,000,000 are reserved for the ICO / seed rounds and 50,000,000 are locked up for 3 years to be used by AUSCOIN. The reservation of 50% of all tokens by the AUSCOIN ICO is outrageous. I find this very unfair to investors, but I also find this is poorly planned. To lock up 50% of all tokens for company use in 3 years and spare no tokens to be used for the network in the mean time AUSCOIN may find themselves in a untenable position in regards to supply. The HODL club seems to be the only real reward to the system where AUSCOIN owners need to hold a minimum of 10,000 tokens to benefit. With all of the tokens available for the first 3 years being sold to raise money, this gives AUSCOIN no method to reward businesses to use the token without dipping into their cash flow liquidity provided by the ATM network, in addition it gives them no headroom for error or allocation of AUSCOIN for any purpose without purchase until the future fund is unlocked. With a vast amount locked into HODL club members wallets permanently this will create a low circulating supply and extreme liquidity issues. This shows a lack of business strategy by the team and a lack of understanding of the metrics of distribution. Whether by greed or poor planning this is a massive red flag that cannot be addressed without breaking their contractual obligations laid out in the whitepaper if they succeed in selling all 50,000,000 tokens during the ICO phase.
Security: There is absolutely no mention of security in the latest whitepaper, this is disconcerting for the average person to not be given even a small amount of detail on the issue. The token is secured by the Ethereum network but I do not deem a token to be categorically secure enough for POS and retail exchange. This is more suitably the job for a purpose built coin & blockchain.
The AUSCOIN ATM Network: The majority of the business plan laid out in the whitepaper revolves around the ATM business that the ICO funds. It is an underwhelming amount of information and draw conclusions of scaled data from insufficient sources. Two ATM’s were used in the collection of AUSCOIN’s data, each of these were placed in owners of AUSCOIN’s businesses. First we can not be sure this data is reliable, but at the very least this is vastly insufficient to be able to scale the numbers out from 2 to 1200. Data sourced from the internet shows just how little demand there is right now for bitcoin ATM’s.
1.There are only 2,008 Bitcoin ATMs as of January 2018 globally. https://www.statista.com/statistics/343127/number-bitcoin-atms/ AUSCOIN plan on rolling out 1200 ATM's Australia wide within the year, while demand is growing, I find it hard to make a business case that Australia could have, based on the current numbers, the equivalent of 60% of all current Bitcoin ATM's in the world at this point in time by the end of 2018.
2. Extrapolating the data from two ATM’s that may have been tampered with given the access from owners is not a sound collection of data. The reports of 84 million dollars transacted on the network per week is inaccurate at best.
3. Having spoken to other ATM operators one major cost is the transport of currency to and from machines. There is a strong business case to provide a more expensive ATM machine that would require much less deliveries and pickup of currency. Some machines hold 3-5 times the amount of currency, which is a saving on cash provision of 300-500% https://bitcoinatm.com/
4. Fees are hidden, but they are comparing themselves only to to Coinspot which is the most expensive exchange in Australia. We would like some clarity on fees but from what we can find they are around 7-8%. AUSCOIN make most their money on the spread they offer.
5. What is AUSCOIN’s ability to maintain the ATM's liquidity during sharp corrections. Early reports relayed from the community insinuate the ATM in Chadstone has been out of service each time the market corrects. At 1200 ATM's, maintaining liquidity in a volatile market will be hard. If you can buy below market rate you need to buy bulk to service all the ATM's. What methods will AUSCOIN employ to keep their ATM’s in service during corrections. What business systems will AUSCOIN employ to protect their liquidity and reserves from corrections. These are all questions that should be answered in the whitepaper if the token really centers on the ATM network.
Team: The team itself is underwhelming, there seems to be only a single qualified developer on staff. Unfortunately we cannot follow up his qualifications as there is no Linkedin links for any staff or team members found anywhere online or within the whitepaper. The main team members seemed to not completely grasp the fundamentals of how a blockchain works even recently in their talks and AMA's. They had no idea their original concept of producing a token did not allow them to mine these tokens as demonstrated in version #1 of the whitepaper. There is multiple allegations of fraud and illegal behaviour with members of the team, while these require more evidence than I have currently been given access to, they are relevant to my reporting on the teams foundation. Some crypto community members have claimed team members and people associated with the team have threatened them for speaking out or asking questions.
Sam Karagiozis: Sam has no experience in blockchain at a greater level than purchasing and selling though localbitcoins. Sam runs a Souvlaki shop, this is to our understanding his only experience in business management. Sam claims to have been involved in bitcoin since 2012 but he has shown himself to be completely hopeless at understanding the complexities of Bitcoin, blockchain and cryptocurrencies. https://www.youtube.com/watch?v=nh91eftBZbU Sam mistakes bitcoin market cap with total supply and claims all bitcoins will be mined by mid 2020 when it is widely regarded to be around 2040. Sam is generally the face of AUSCOIN but conducts himself like a preschooler on social media. There is rumors circulating that he is alleged to run illegal investment funds, but they are unsubstantiated without more evidence.
Michael Slogget: Michael runs a successful group Crypto Calls Australia with over 30,000 members. Michaels past business experience is with Worldventures, a pyramid scheme to sell travel packages http://www.news.com.au/finance/business/travel/worldventures-multilevel-marketing-business-claims-to-have-10000-australian-members/news-story/139decd1762d3cfbdfc4114e696b049a. There is rumours circulating that he is alleged to run illegal investment funds, but they are unsubstantiated without more evidence.
Sean Harris: Sean is the only accomplished person on the team as far as the whitepaper resume goes, what he has accomplished is anybody's guess as we cannot research him without a Linkedin profile. I would like to see detail on his management qualifications as extensive searches of google cannot find anything.
Without links to actually search anybody else on the team we refuse to comment on the lacklustre team they have put together. There is not one mention of an actual project or company anybody has worked for. It is my assumption that the team either have no qualifications or very poor ones. AUSCOIN remarks on their Facebook page on Feb. 7th that the development team was finalized in November. The team seems in constant flux and the original developers parted ways in January. The team has scrubbed developers from the project as late as a few weeks ago after it was made public they had no prior experience aside from pushing trolleys. https://www.facebook.com/auscoinico/photos/a.220326521840897.1073741828.210692739470942/242907232916159/?type=3&theater
Funding: With the aim to raise close to $50,000,000 there is only $15,000,000 accounted for in the roll out of the ATM network. There is no public disclosure of where the rest of the funds are spent. We have plenty of questions regarding this. 1. How much is going towards the teams payroll. 2. How much is for upkeep of the business. 3. How much is going to be spent on marketing. 4. What is your level of contingency. 5. How much is set aside for AUSCOIN and how much is for the AUSCOIN ATM business. 6. How much has actually been accounted for in the business plan.
I have nothing but apprehension for the future of the money raised by investors and the AUSCOIN network. With the way the company structure is set out, this gives AUSCOIN ICO PTY. LTD the ability to pay and transfer assets to AUSCOIN GROUP PTY. LTD. or AUSCOIN ATM PTY. LTD. and limit the liability if the AUSCOIN token fails, retaining the ATM businesses and shareholders money.
Conclusion: 1 out of 5 * A Risky investment that will be almost certainly fail to provide a useful product in AUSCOIN. I hope they prove me wrong. The ATM business is an exciting venture that can only be good for Australian adoption, but there is probably a better way to fund this without potentially defrauding amateur investors. I find the ATM network an exciting venture but the planning to be a underwhelming endeavor. For a whitepaper that focuses mainly on Bitcoin ATM’s, there is very little detailed information on crypto ATM usage, no competitor analysis, or a SWOT analysis on the ATM business. The team is underwhelming, there is not a single allstar team member or anybody involved in the project that has verifiable experience in the ATM or Blockchain industry. The scope of the project and token has changed dramatically from version one of the whitepaper to version five, initial seed investors were originally promised an exchange and many other things to come in the near future. This does not fill me full of optimism when it comes to their ability to deliver on promises and business goals if the scope has changed so dramatically since the initial seed round. Further to this they did not offer these seed funders a refund based on the scopes drastic change and the initial promises they were sold before investing. While they are not legally obligated to do this, I find this to be extremely questionable behaviour.
submitted by CryptoKittyKiller to Auscoin [link] [comments]

Never use Bitcoin ATMs! Video review - YouTube Bitcoin ATM Near Me - YouTube How To Find Bitcoin ATM Nearby You How withdrawal Bitcoin at ATM How to Buy Bitcoin with Cash through a Bitcoin ATM ...

Most ATM machines have deposit and withdrawal limits between $1000-$10,000. It’s still very few compared to over 3 million fiat ATMs dotted around the globe. How To Find A Bitcoin ATM Near You . As of writing, there are over 3940 Bitcoin ATMs scattered across the globe, an exponential rise from just 2 years back when the number hovered around 1000. And more than half of the ATMs are located ... Bitcoin ATM installations were, unsurprisingly, higher in developed economies, such as the United States, Canada, and the United Kingdom. However, developing markets and regions with volatile currencies, such as Venezuela, are also seeing an uptick in the number of Bitcoin ATMs installed as citizens lose their faith in their fiat currencies, the report said. According to a blogpost by CoinATMRadar, in the first 3.5 years since their inception, there were 1,000 Bitcoin ATMs installed globally; over the next 3.5 years, more than 9,000 came online. Crypto ATM Installation Growth – CoinATMRadar You can find bitcoin near your location on this page by searching by address or geo coordinates. Producers. Genesis Coin (4080) General Bytes (3361) BitAccess (1105) Coinsource (731) Lamassu (543) All producers; Countries. United States (9175) Canada (920) United Kingdom (286) Austria (148) Spain (104) All countries; More. Find bitcoin ATM near me; Submit new ATM; Submit business to host ATM ... Bitcoin ATMs installations exceeded 10’000 locations across the globe. It took industry roughly 7 years to reach this point since the first permanent bitcoin ATM installation in the end of 2013 (there is still a bitcoin ATM at this location in Vancouver at Waves Coffee House).Looking back at traditional bank ATMs, it took banks 9 years to install 10’000 ATMs, so the pace of bitcoin ATM ...

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Never use Bitcoin ATMs! Video review - YouTube

This tutorial will show you how to buy bitcoin instantly at trusted stores and ATMs near you, right inside of your edge wallet using LibertyX. I tried out a Bitcoin ATM for the first time. Unfortunately, it will also be the last time. The Bitcoin being sold was marked up an additional $2000 above th... ↪How to find Bitcoin ATM nearby you in your country? ↪How to check details for a particular ATM nearby you such as fees, limits, opening hours & location? Do share this video with your friends ... How withdrawal Bitcoin at ATM. Now can withdraw Bitcoin to cash in ATM. visit my site to get to know bitcoin. www.smart-millionaire.blogspot.com start your b... How To Cash In $1000 In BitCoin For Less Than Average ATM Fee - Duration: 23:49. Gary Gilgen 37,286 views. 23:49 . How to Detect Scams When Buying Bitcoins on Paxful - Duration: 2:43. Paxful ...

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