ASDFnz (472824) writes "Satochi Nakamoto, much revered and currently missing inventor of bitcoin seems to have had his email address compromised by an unknown agent.
You may or not remember, Satochi exclusively used one email address when he was active in the bitcoin community, firstname.lastname@example.org. If you have a look at the original bitcoin whitepaper you will find it there at the top just under the title. He also usually signed his correspondence with his PGP signature.
Earlier today, the head administrator of Bitcointalk Theymos received an email from Satochi’s email address that appeared to originate form GMX’s servers and made a post on the bitcointalk forums saying that he had received an email from the address without Satochi's PGP Signature.
ASDFnz (472824) writes "We did not expect the US Marshals Service to release information about the auction of Silk Road bitcoin last week but in the absence of information speculation both on the markets and on the internet is building.
First Barry Silbert, Founder of SecondMarket and BitcoinTrust has tweeted that they were outbid on all blocks.
Since then Alex Walters (a former core Bitcoin developer and the then chief technology officer of Bitinstant) has posted on reddit saying “I Lost” in his $400 to $500 per coin. That post was closely followed by another reddit user saying that his bid of $451.13 per coin was also unsuccessful.
Routers is also now reporting that investment firm Pantera Capital has also been notified that their bids were also unsuccessful.
Meanwhile the actual price of bitcoins of the various exchanges has risen close to 15% from just under $600 a coin to close to $650.
In the end, we may never know who bought the confiscated coins or how much they bought them for but it does seem that it will be a pivotal point in bitcoins evolution.
ASDFnz (472824) writes "It has long been known that JavaScipt's Math Functions are not up to a good enough standard to be used in Cryptography. In particular the random function has many documented flaws easily available with a quick google search.
It appairs that someone has exploited the weaknesses and stolen bitcoins from people that used brainwallet.org to generate paper wallets.
In a post earlier today reddit user LostAllOfMyBtc said that "35 of my BTC gone. PC not compromised.". The user went on to explain that the bitcoins were stored in 18 different bitcoin addresses that were generated using brainwallet.org's random button.
ASDFnz (472824) writes "It has only been six months since Target Customers had their credit card details sold on rescator[dot]so and today we have news of another Credit Card breach at P.F. Chang’s with users details once again up for sale on the nefarious website.
While it cannot be denied bitcoin is still in it’s infancy, this is one of the (very many) problems that it aims to solve. It is becoming evident that Credit Card technology is very dated and is fundamentally flawed in our online aware civilization, in this case the magnetic strips are up for sale after P.F. Chang’s systems were compromised but in reality all that is needed is a very low tech pen and paper to “hack” your credit card.
If you wanted to use a bit of technology a Photocopier will get the job done.
In my opinion Bitcoin is nearly ready, in the five years since it’s inception all of the “component bit’s” have been put together. We now have Hardware Wallets, payment processors are now ready and eager (even PayPal is looking into it). Bitcoin ATM machines are popping up all over the map. Point Of Sale (POS) machines are availible.
The Bitcoin Network is now secured by a tremendous amount of hashpower, greater than any supercomputer! And it is growing every day.
The last component, the fundamental component behind bitcoin, the consensus and the will of the people is all that seems to be needed." Link to Original Source top
ASDFnz (472824) writes "It has been just over two months since the bitcoin block chain was rocked by a near disastrous fork causing the bitcoin price to crash.
The culprit of the crash was found to be a bug that prevented pre version 7.1 bitcoin clients accepting large blocks that could be generated by version 8 clients. A temporary fix was put into place by Bitcoin Project lead developer Gavin Andresen that forced version 8 clients to generate blocks that version 7.1 could understand." Link to Original Source top
ASDFnz writes "It has been an eventful few days in the bitcoin ASIC race and to be honest it would not surprise anyone if you where wondering where, when and even if bitcoin ASIC mining devices will start to make a dent on the bitcoin difficulty.
In order to attempt to clarify things, and to put the information all in one place with relevant links I have put together a few paragraphs detailing the progress of each of the four ASIC vendors so you can decide for yourself what might be happening.
ASICMiner(Bitfountain): After receiving their first batch of ASIC’s back on the 28th of December friedcat has been giving steady weekly updates in their official thread over at BitcoinTalk and they are progressing towards making their ASIC’s operational. In the latest update friedcat is still concerned that Chinese New Year (10th February) may interfere with their plans, but he remains hopeful.
The process of recovering and re-organising their shareholder registry after the collapse of GLBSE also appears to be progressing with many users reporting that they have received confirmation of their shares.
Avalon ASIC: BitSyncom recently upgraded their speed estimate for Avalons ASIC devices from 60 GH/s to 66 GH/s bringing their cost per GH/s down to $19.68 and as their countdown shows, they are still expecting to ship next week with their first batch of 300 units.
That is a total of 19,800 GH/s (close to 20 TH/s) to added to the bitcoin network and that has the potential to double the network hash rate to 40 TH/s brining the network difficulty to 6 million within the next month, possably before anyone else even ships.
BTCFPGA: After requesting that everyone puts in refund requests (or does a credit card charge back) buzzdave over at the BTCFPGA official forums still seems to think that some deal may be reached to bring bASIC devices to a desktop near you sometime in March.
While March is still a long way off the way that delivery dates have been constantly pushed back by most vendors in the race for bitcion ASIC devices miracles do happen and they still may be the first to market (I do doubt this very much though, it seems that it will be a miracle if they ship at all).
Butterfly Labs: BFL_Josh has published a comprehensive plan that ends in the week of February the 10th with the start of their 1/3 shipping plan where one third of available stock will be shipped to new orders (first order number in, first ASIC out), the second third will be shipped to people who have upgraded their existing Butterfly Labs FPGA units (and sent them back in the week of Febuary the 3rd) and the final third will be randomly picked from both upgrades and pre-orders.
Butterfly Labs does not have the best reputation when it comes to meeting shipping dates though, the original date was closer to the middle of last year than February this year." Link to Original Source top
ASDFnz writes "3 years ago today (or 6:15 pm on the 3rd of January, 2009 UTC/GMT) Satoshi Nakamoto’s computer generated the fist ever bitcoin block. Weighing in at just under.3 of a Kilobyte it is a testament to the old adage ”good things come in small packages”.
While the future of bitcoin and crypto currencies in general is still far from certain, can you imagine what Satoshi was thinking when he got the notification that the first block was found? It seems unlikely we will ever know (After all, Satoshi Nakamoto is a pseudonym) but we can say for certain, he did not know this;-
Bitcoins Lost 35,608.36304319
Bitcoins Stolen 261,666.05847975
Bitcoins Scammed 535,350.05786728
I have been conservative with my figures, but that is a total of 832,624.47939022 or 7.8% of of the current bitcoins in circulation that have been scammed, stolen or destroyed. If you consider that there will only ever be 21,000,000 bitcoins (unless the blockchain is altered) that works out to be 3.964% of bitcoins ever to be created." Link to Original Source top
ASICMiner the dark horse in the bitcoin ASIC race may have just come in first
ASDFnz writes "he ODP (Open Directory Project) or dmoz.org is one of the true grandfathers of the Internet. Started in 1998 it had a simple but very ambitious goal, to organise and categorise the Internet.
Fast forward 14 years to today the ODP contains just under 5 million unique websites and is still growing but there is, and always has been an issue with the ODP and it also happens to be its greatest advantage. Every single listing is reviewed and maintained by a small crew of volunteer editors, and compared to the amount of listings the number of editors are truly microscopic.
This can lead to delays of months (or even years in some cases) to get your site listed or updated as an editor finds the time to review your site manually and ensure that it fits into a strict set of rules and guides. Once you were listed though you could expect higher priorities from search engines and more hits.
Well, things are about to change in the bitcoin category. After going through the application process quite some time ago I yesterday received a notification that I had become an ODP editor for the bitcoin category (on christmas day no less). Suffice to say, I am stoked and I promice to get submissions dealt with in a quick and timely manor (and be fair and impartial as I can)." Link to Original Source top
ASDFnz writes "As early as last September there has been talk in the bitcoin community about concerns with BitMarket.eu. BitMarket was one of the very first exchanges in the European Union and began operating on February 25th, 2011, just under two years ago.
There have been a few issues with BitMarket account details being stolen (along with the bitcoins in those accounts) and yet other accounts being mysteriously frozen without explanation or response from support.
It now appears that those concerns were justified, in a thread on BitcoinTalk the user M4v3R who is the Owner/Operator of BitMarket made a post announcing "Right now there are 1786 BTC pending withdrawal, which I can't honor..."
M4v3R goes on to explain that he considers the problem with the 1786 BTC pending withdrawal (approximately $24,111 USD at today's rates) is his own fault and explains that the difficulties began when he decided to provide a hedge fund service using his previous trading experience and yet another bitcoin service, Bitcoinica.
When Bitcoinia went offline and subsequently into liquidation on August 1st, 2012 19,980 of BitMarket's clients bitcoins went with it. BitMarket did not decide to inform its users it seems.
M4v3R is asking for donations to be sent to 1Km5GFMat1DXcbvMTeH9ZvLGKvFCLBA9dM and is now looking for investors to bail BitMarket out." Link to Original Source top
World ending? Take your money with you using a Bitcoin Brainwallet!
ASDFnz writes "The end of the world is nigh! With traditional currencies there is a saying “you cannot take it with you” but believe it or not with Bitcoin you can.
It occurred to me that when the world ends in the upcoming apocalypse tomorrow on the 21st 2012 you can use a BrainWallet to take your fortune to [fill in your appropriate afterlife location] with you. Once there you can connect up to the local blockchain and you are ready to go, complete with your earthly wealth." Link to Original Source top
ASDFnz writes "With the recent press activity surrounding Bitcoin ASIC miners I thought it time for an article explaining what they were and what might soon to be available. I say might because as so far as I can tell even the supposed suppliers of these ASIC devices have not seen a single “retail ready” unit.
First, a word about ASIC. ASIC stands for Application-Specific Integrated Circuit. I realise that’s quite a mouthful to say and sounds quite exotic but they are more common than you might think, chances are that from where you are sitting you can touch two or three devices containing ASIC’s. In fact if you look under your right hand right now (or left if you are a lefty) your mouse almost certainly contains one or more.
ASCI’s are chips designed to do one thing and one thing only, but they do that particular task very well. When it come to talking about bitcoin up until now (or more precisely shortly from now) people have mined with general purpose processors designed to do other tasks such as the CPU and GPU in your computer, while they can mine for bitcoins that is not what they were designed to do. FPGA devices, or Field Programmable Gate Array devices have also been used to mine bitcoins and while they are far superior to CPU’s and GPU’s they are still general purpose devices that have had the bitcoin mining software “programmed” into them.
ASCI’s bitcoin miners on the other hand are built ground up and fully optimised to do those complicated SHA256 computations at rates that totally obsoletes any mining technology seen to date at a fraction of the running cost.
While the cost for each individual ASIC is also quite low, sometimes even measured in cents for large orders of hundreds of thousands of individual units the cost to design, prototype and manufacture a single ASIC is measured in the millions so while the cost to the manufacturer for an individual unit may be low they still need to recoup those millions" Link to Original Source top
Butterfly Labs push back bitcoin ASIC delivery (Again)
ASDFnz writes "In a not totally unexpected move Butterfly Labs have pushed back the delivery date of their next generation ASIC bitcoin mining products. In a statement on the Butterfly Labs Forums dated the 10th of December BFL_Josh writes “After talking with our liaison tonight and still having not received a final confirmation date, we were as tired of this as everyone else is, so we continued to push for a date and they gave us 30 days from today”.
While he also says in the same statement “it may very well be that things will wrap up sooner than that” with receiving, repacking and outward shipping it seems that the 9th of January is going to be the very earliest anyone is going to have an ASIC device on their desk." Link to Original Source top
Want to destroy bitcoin? I am going to tell you how.
ASDFnz writes "For every person that advocates bitcoin it seem there is at least one person who will tell you that it is a colossal waste of electricity, effort and time as well as being some sort of scam. If you are one of those people, this article is for you.
There is a badly kept secret with bitcoin, it is vulnerable to attack. The attack itself is technically quite easy to execute and would result in the total paralysis of bitcoin. Properly executed you would be in control of the entire bitcoin network and you would be able to bring the entire thing to a screaming halt destroying bitcoin once and for all (or at least as long as you can keep the attack going)." Link to Original Source top
Bitcoin-Central begins operating as a Bank (Sort of)
ASDFnz writes "In an announcement on BitcoinTalk earlier today Bitcoin-Central reviled that they have partnered with Aqoba and Credit Mutuel to begin operations as Payments Service Provider (or a PSP). While not quite exactly the same as a bank a PSP falls under all the regulatory restrictions and requirements as a bank except they are not able to issue credit.
They will fall under the European Union regulatory body but they are open to international clients so no matter where you live you can now open the equivalent of a European bank account (assuming your government allows it).
If you look at the story on BitcoinTalk you will find quite a few advantages to this move but a short list of advantages to this are;-
* Non bitcoin Deposits stored in individual Credit Mutuel accounts. * An IBAN Number will be issued within the next few months. * Non bitcoin deposits 100% guaranteed by the French Government. * You will soon be able to get a Debit Card issued. * You will be able to use your BTC with your Bitcoin-Central Debit Card.
As with any new service there are downsides, the one that I can see most bitcoin users borking at is to take full advantage of the service you must positively identify yourself with a scan of a government-issued photographic identification document (Passport, National ID Card, Driver’s License etc..). While this is not an issue for most bitcoiners quite a few value their anonymity and it also opens a new avenue for Identity Theft.
ASDFnz writes "As the bitcoin Reddit users will tell us, Reddit has taken the plunge into the bitcoin world with its new feature, the bitcointip bot.
After last months post from Reddit CEO Yishan Wong saying that “So – no promises, but we’re looking into it.”. The expectation was that if anything was going to happen it would be months away, but no, it seems that they have had something cooking all along.
I wont go into the specifics of how to use the bitcointip bot, Reddit already has it well documented. I will say that this seems to be large step forward for the general acceptance of bitcoin. According to Alexa who track global internet traffic, Reddit is the 131st most visited website in the world and 66th in the US.
The idea is that you can use bitcointip bot to reward Reddit authors for comments and posts you particularly enjoy. While I cannot see anyone actually earning a living out of this (I have been wrong before though) it seems a nice way to give people the thumbs up." Link to Original Source top
ASDFnz writes "One of the predictions that I posted might happen when the mining reward dropped from 50 BTC to 25 is that GPU Miners will get switched off because the price in electricity to run them would far outweigh the bitcoin reward they generate, I proposed that this would lead to a drop in the bitcoin network computation speed.
Well, I was wrong.
If you have a look at the graph provided by the great team over at http://bitcoin.sipa.be/ you will see that today, the 3rd of December 2012 a full 4 days after the reward drop the network computation speed is actually growing." Link to Original Source top
ASDFnz writes "The chatter is a buzz in the bitcion community, the 210,000th bitcoin block has been mined, there are now 10,499,925 bitcoins and the reward miners receive from solving a block has dropped from 50 to 25 bitcoins. At precisely 2012-11-28 15:24:55 UTC a miner called Laughingbear submitted the successful hash to Slush’s mining pool (https://mining.bitcoin.cz).
This is a pivotal step for bitcoin but lets forget about economics or technical stuff for the moment, lets look at the actual block itself. For those that want to collect a bit of history you can download the block data here (http://mineforeman.com/wp-content/uploads/2012/11/210000.txt). For those of you who cannot read JSON here a few facts about the block;-
* The Hash was 000000000000048b95347e83192f69cf0366076336c639f9b7228e9ba171342e. * The Merkle root was 3cdd40a60823b1c7356d0987078e9426724c5b3ab439c2d80ad2bdd620e603d8. * The Nonce was 4069828196. * The Difficulty was 3,438,908.96. * There are 10,499,925 bitcoins in circulation ($127,784,087.25 USD). * There 1,049,992,500,000,000 satoshis (individual bitcoin units). * The block was solved in 23 minutes and 2 seconds. * A single high-end CPU (Intel Core i7 3930k) would have had a 50% chance to have solved the block in just over 7 years. * There were 457 individual transactions contained in the block. * The Mt.Gox average trade price for 1 BTC was $12.17 USD at the time. * There were 25,421.70093021 BTC worth of transactions in the block ($313,000 USD). * The Reward was 25 BTC ($300 USD). * The transaction fees, also collected by the mining pool were 13.56295554 BTC ($160 USD). * The 25 BTC were deposited into the address 1NEU779yvLaFk39k4Q3QdLjwpWTdWCbzqL.
Laughingbear, the miner who generated the new block later appeared on BitcoinTalk (https://bitcointalk.org/index.php?topic=128221.0) and posted;-
"I am very new to mining, and have been at it less than a week. This was the first block I have ever found. I decided to become involved in Bitcoins, because I feel that it could be the answer to all the evils of government controlled currency. This isn’t a “get rich quick scheme” for me. I believe that what we are doing can change the world. I am incredibly honored to be a part of Crypto-Currency history.