bitcoin - Historical Depth Data MtGox with higher ...

TRUE historical data on yearly lows (correcting repetitive historical false information spread on reddit and twitter)

Recently, wrong historical data on the alleged Bitcoin yearly lows could be repetitively read in ill-researched or "blindly copy-pasted" posts and tweets, e.g. falsely claiming a yearly low for 2013 of $65, where $13 is the correct value (wrong by a factor of 5)!
Here is the correct data:
TRUE yearly lows (first historically recorded trade occurred at MtGox exchange on 17th July 2010; bitstamp exchange started operation on 13 Sep 2011*):
*not included: Bitcoin prices of around $0.003 on Bitcoin USD markets recorded since 25th April 2010, consistent with famous two Bitcoin pizzas from 22nd May 2010 worth $30 for 10,000 BTC.
Yearly absolute lows (just omitting obvious implausible data flaws) - not recommended because short outliers of very low trade volumes can bias the view of the real market situation:
Yearly lows of daily weighted averages - more useful because short outliers with very low volumes are not biasing the statistics:
  • 2010: $0.05 (MtGox, 17th & 24th & 25th & 26th July)
  • 2011: $0.29 (MtGox, 4th January)
  • 2011: $2.24 (bitstamp, 21st October)
  • 2012: $4.33 (bitstamp, 19th February)
  • 2013: $13.01 (bitstamp, 1st January)
  • 2014: $305.81 (bitstamp, 5th October)
  • 2015: $189.84 (bitstamp, 14th January)
  • 2016: $370.21 (bitstamp, 3rd February)
  • 2017: $783.46 (bitstamp, 12th January)
  • 2018: $3171.72 (bitstamp, 15th December)
  • 2019: $3365.06 (bitstamp, 7th February)
  • 2020: <= $7030.21 (bitstamp, 2nd January)
Change rates:
  • 2011: x 5.8 (+480%)
  • 2012: x 14.9 (+1390%)
  • 2013: x 3.0 (+200%)
  • 2014: x 23.5 (+2250%)
  • 2015: x 0.6 (-40%)
  • 2016: x 2.0 (+100%)
  • 2017: x 2.1 (+110%)
  • 2018: x 4.0 (+300%)
  • 2019: x 1.1 (+10%)
  • 2020: <= x 2.1 (<= +110%)
How to do this yourself:
Example for 2013:
https://bitcoincharts.com/charts/bitstampUSD#rg60zczsg2013-01-01zeg2013-12-31ztgSzm1g10zm2g25zv
Click on "Load raw data" below the chart, copy-paste to spreadsheet like Libre Calc or MS Excel or Google documents, apply "min" function on the column of daily lows or daily weighted averages.
For year 2013 on bitstamp, the yearly low was reached on 1st January 2013: - Daily absolute low = $12.77 - Daily weighted average = $13.01
submitted by Amichateur to Bitcoin [link] [comments]

Is there a way to determine how much Bitcoin was worth at a certain point in time?

For example:
Is there a way for me to determine how much Bitcoin was worth on September 4th, 2012, 4:00 PM GMT?
Random example, nothing significant about the date... but I was just wondering if its even possible to determine this kind of thing. I have been around Bitcoin for about a year and a half now, but I have never thought about whether this possible to achieve until now.
submitted by bricksquid to Bitcoin [link] [comments]

Core/Blockstream is *not* Bitcoin. In many ways, Core/Blockstream is actually similar to MtGox. Trusted & centralized... until they were totally exposed as incompetent & corrupt - and Bitcoin routed around the damage which they had caused.

Core/Blockstream can't/won't grow any more.
Bitcoin is growing - and the only way it can continue to grow is for Core/Blockstream to get out of the way.
Core/Blockstream doesn't have any solutions for the graphs below - but that's their problem, not Bitcoin's:
https://blockchain.info/charts/n-transactions?showDataPoints=false×pan=all&show_header=true&daysAverageString=7&scale=0&address=
https://tradeblock.com/bitcoin/historical/1w-f-txval_per_tot-01071-blksize_per_avg-01071
Just click on these historical blocksize graphs - all trending dangerously close to the 1 MB (1000KB) artificial limit. And then ask yourself: Would you hire a CTO / team whose Capacity Planning Roadmap from December 2015 officially stated: "The current capacity situation is no emergency" ?
https://np.reddit.com/btc/comments/3ynswc/just_click_on_these_historical_blocksize_graphs/
Core/Blockstream has no solutions to these problems - because they don't want to solve them:
Lesser known reasons why Core developers want to keep block size small, in their own words
https://np.reddit.com/btc/comments/473i0h/lesser_known_reasons_why_core_developers_want_to/
https://medium.com/@elliotolds/lesser-known-reasons-to-keep-blocks-small-in-the-words-of-bitcoin-core-developers-44861968185e
But Bitcoin does have solutions right now. For example, one solution is already installed and running on over a thousand nodes:
Be patient about Classic. It's already a "success" - in the sense that it has been tested, released, and deployed, with 1/6 nodes already accepting 2MB+ blocks. Now it can quietly wait in the wings, ready to be called into action on a moment's notice. And it probably will be - in 2016 (or 2017).
https://np.reddit.com/btc/comments/44y8ut/be_patient_about_classic_its_already_a_success_in/?ref=search_posts
So, remember to be precise in your phrasing and your thinking:
"Bitcoin" isn't dying.
"Core/Blockstream" is dying.
That's all that's happening here.
Yes it could get ugly for a while.
The death of Core/Blockstream could get as ugly as the death of MtGox.
In both cases, people trusted a centralized institution which thought that it could control Bitcoin forever.
And then that centralized institution was revealed to everybody as incompetent and corrupt and rotten to the core.
People who had placed their trust in that centralized institution got hurt bad - but the people who hadn't trusted that institution, came out fine.
If you're part of the crowd that's been complaining about Core/Blockstream for these many months - that's the same as being part of the crowd that was complaining about about MtGox for many months.
Consider yourself one of the informed. Just like the people who didn't trust MtGox, the people who don't trust Core/Blockstream will emerge unscathed after this crisis is past.
But people who trust Core/Blockstream are gonna get hurt:
The Nine Miners of China: "Core is a red herring. Miners have alternative code they can run today that will solve the problem. Choosing not to run it is their fault, and could leave them with warehouses full of expensive heating units and income paid in worthless coins." – tsontar
https://np.reddit.com/btc/comments/3xhejm/the_nine_miners_of_china_core_is_a_red_herring/
As long as people continue to trust Core/Blockstream, the network will start to get clogged, and the price could crash - or just stay flat, as Bitcoin's expected price rise due to the halving, collapsing fiat financial markets, NIRP (negative interest rate policy from governments and banks) etc. gets cancelled out by Core/Blockstream's stalling and incompetence.
3 months performance of Dow Jones, NASDAQ, S&P500, FTSE 100 (UK), DAX (Germany), Nikkei (Japan), Shangai Composite (China), Gold, and Bitcoin (cross-post from /BitcoinMarkets - original post by brg444)
https://np.reddit.com/btc/comments/45u8cf/3_months_performance_of_dow_jones_nasdaq_sp500/
Once Core/Blockstream's failure/refusal to scale causes enough damage to make the majority of people understand that Core/Blockstream is not Bitcoin - then people will wake up and reject Core/Blockstream's failure/refusal to scale.
And remember, scaling for the next few years is easy: just change a 1 to a 2 in the code. Or set it to some average or median based on the previous blocks.
BitPay's Adaptive Block Size Limit is my favorite proposal. It's easy to explain, makes it easy for the miners to see that they have ultimate control over the size (as they always have), and takes control away from the developers. – Gavin Andresen
https://np.reddit.com/btc/comments/40kmny/bitpays_adaptive_block_size_limit_is_my_favorite/
There are plenty of simple scaling solutions solutions like this available (Classic, BitPay's Adaptive Block Size Limit).
Core/Blockstream thinks it can dominate Bitcoin by throwing around money and lies while they ignore users' needs - and certain people appear to be gullible enough to actually trust them (e.g. Chinese miners signing meaningless loyalty statements at 3 AM at some roundtable in Hong Kong).
But Satoshi carefully designed the incentives of Bitcoin so that it will always route around that kind of centralization and corruption.
As an investor, you're the one in control. The miners only provide a commodity (timestamping of transactions), and the devs only provide code (which is open-source, so it can easily be modified to suit our needs).
Forkology 301: The Three Tiers of Investor Control over Bitcoin
https://np.reddit.com/btc/comments/3t4kbk/forkology_301_the_three_tiers_of_investor_control/
https://duckduckgo.com/?q=site%3Abitco.in%2Fforum+spinoff
You still have X bitcoins on the Blockchain and there isn't a damn thing Core/Blockstream or the Chinese miners can do to change that.
submitted by ydtm to btc [link] [comments]

Blockchain Wallets

Hello! My name is Inna Halahuz, I am a sales manager at Platinum, the largest listing service provider for the STO and ICO projects. We know all about the best and most useful STO and ICO marketing services.
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What a Blockchain Wallet is? What is its purpose?
Find the answer after reading this article.
Public/Private Key
The public key is the digital code you give to someone that wants to transfer ownership of a unit of cryptocurrency to you; and a private key is what you need to be able to unlock your own wallet to transfer a unit of a cryptocurrency to someone else. The encoding of information within a wallet is done by the private and public keys. That is the main component of the encryption that maintains the security of the wallet. Both keys function in simultaneous encryption systems called symmetric and asymmetric encryption. The former, alternatively known as private key encryption, makes use of the same key for encryption and decryption. The latter, asymmetric encryption, utilizes two keys, the public and private key, wherein a message-sender encrypts the message with the public key, and the recipient decodes it with their private key. The public key uses asymmetric algorithms that convert messages into an unreadable format. A person who possesses a public key can encrypt the message for a specific receiver.
Accessing wallets
Methods of wallet access vary depending on the type of wallet being used. Various types of currency wallets on an exchange will normally be accessed via the exchange’s entrance portal, normally involving a combination of a username/password and optionally, 2FA (Two factor authentication, which we explain in more detail later). Whereas hardware wallets need to be connected to an internet enabled device, and then have a pin code entered manually by the user in possession of the hardware wallet in order for access to be gained. Phone wallets are accessed through the device on which the wallet application has been downloaded. Ordinarily, a passcode and/or security pattern must be entered before entry is granted, in addition to 2FA for withdrawals.
Satoshi Nakamoto built the Satoshi client which evolved into Bitcoin in 2009. This software allowed users to create wallets and send money to other addresses. However, it proved to be a nightmarish user experience, with many transactions being sent to incorrect addresses and private keys being lost. The MtGox (Magic the Gathering Online exchange, named after the original intended use of the exchange) incident, which will be covered in greater detail later, serves as a reminder of the dangers present in the cryptosphere regarding security, and the need to constantly upgrade your defenses against all potential hacks. The resulting loss of 850k BTC is a still unresolved problem, weighing heavily on the victims and the markets at large. This caused a huge push for a constantly evolving and improving focus on security. Exchanges that developed later, and are thus considered more legitimate and secure, such as Gemini and Coinbase, put a much greater emphasis on vigilance as a direct result of the MtGox hacking incident. We also saw the evolution of wallet security into the physical realm with the creation of hardware wallets, most notable among them the Ledger and Trezor wallets.
Types of Wallets & Storage Methods
The simplest way to sift through the dozens of cryptocurrency storage methods available today, is to divide them up into digital and non-digital, software and hardware wallets. There are also less commonly used methods of storage of private keys, like paper wallets and brain wallets. We will examine them all at least briefly, because in the course of your interaction with cryptocurrencies and Blockchain technology, it is essential to master all the different types of hardware and software wallets. Another distinction must be made between hot wallets and cold wallets. A hot wallet is one that is connected to the internet, and a cold wallet is one that is not. Fun fact: The level below cold storage, deep cold storage has just recently been implemented by the Regal RA DMCC, a subsidiary of an internationally renowned gold trading company licensed in the Middle East. After having been granted a crypto trading license, Regal RA launched their “deep cold” storage solution for traders and investors, which offers the ability to store crypto assets in vaults deep below the Almas Tower in Dubai. This storage method is so secure that at no point is the vault connected to a network or the internet; meaning the owners of the assets can be sure that the private keys are known only to the rightful owners.
Lets take a quick look at specific features and functionality of varieties of crypto wallets. Software wallets: wallet applications installed on a laptop, desktop, phone or tablet. Web Wallets: A hot wallet by definition. Web Wallets are accessible through the web browser on your phone or computer. The most important feature to recognize about any kind of web wallet, is that the private keys are held and managed by a trusted third party. MyEtherWallet is the most commonly used non-exchange web wallet, but it can only be used to store Ethereum and ERC-20 tokens.
Though the avenue of access to MEW is through the web, it is not strictly speaking a web wallet, though this label will suffice for the time being. The MEW site gives you the ability to create a new wallet so you can store your ETH yourself. All the data is created and stored on your CPU rather than their servers. This makes MEW a hybrid kind of web wallet and desktop wallet. Exchange Wallets: A form of Web Wallet contained within an exchange. An exchange will hold a wallet for each individual variety of cryptocurrency you hold on that exchange. Desktop Wallets: A software program downloaded onto your computer or tablet hard drive that usually holds only one kind of cryptocurrency. The Nano Wallet (Formerly Raiwallet) and Neon wallet for storage of NEO and NEP-5 tokens are notable examples of desktop wallets Phone Wallets: These are apps downloaded onto a mobile phone that function in the same manner as a desktop wallet, but actually can hold many different kinds of cryptocurrency. The Eidoo Wallet for storing Ethereum and its associated tokens and Blockchain Wallet which currently is configured to hold BTC, ETH and Bitcoin Cash, are some of the most widely used examples.
Hardware wallets — LedgeTrezoAlternatives
Hardware wallets are basically physical pathways and keys to the unique location of your crypto assets on the Blockchain. These are thought to be more secure than any variety of web wallet because the private key is stored within your own hard wallet, an actual physical device. This forcibly removes the risk your online wallet, or your exchange counter party, might be hacked in the same manner as MtGox. In hardware wallet transactions, the wallet’s API creates the transaction when a user requests a payment. An API is a set of functions that facilitates the creation of applications that interact and access features or data of an operating system. The hardware then signs the transaction, and produces a public key, which is given to the network. This means the signing keys never leave the hardware wallet. The user must both enter a personal identification number and physically press buttons on the hardware wallet in order to gain access to their Blockchain wallet address through this method, and do the same to initiate transfers.
Paper Wallets
Possibly the safest form of cryptocurrency storage in terms of avoiding hacking, Paper Wallets are an offline form of crypto storage that is free to set up, and probably the most secure way for users, from beginners to experts, to hold on to their crypto assets. To say it simply, paper wallets are an offline cold storage method of storing cryptocurrency. This includes actually printing out your public and private keys on a piece of paper, which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions. The reason why it is so safe is that it gives complete control to you, the user. You do not need to worry about the security or condition of a piece of hardware, nor do you have to worry about hackers on the net, or any other piece of malware. You just need to take care of one piece of paper!
Real World Historical Examples of Different Wallet Types
Web Wallet: Blockchain.info Brief mechanism & Security Blockchain.info is both a cryptocurrency wallet, supporting Bitcoin, Ethereum and Bitcoin cash, and also a block explorer service. The wallet service provided by blockchain.info has both a Web Wallet, and mobile phone application wallet, both of which involve signing up with an email address, and both have downloadable private keys. Two Factor Authentication is enabled for transfers from the web and mobile wallets, as well as email confirmation (as with most withdrawals from exchanges). Phone Wallet: Eidoo The Eidoo wallet is a multi-currency mobile phone app wallet for storage of Ethereum and ERC-20 tokens. The security level is the standard phone wallet level of email registration, confirmation, password login, and 2 factor authentication used in all transfers out. You may find small volumes of different varieties of cryptocurrencies randomly turning up in your Eidoo wallet address. Certain projects have deals with individual wallets to allow for “airdrops” to take place of a particular token into the wallet, without the consent of the wallet holder. There is no need to be alarmed, and the security of the wallet is not in any way compromised by these airdrops.
Neon Wallet
The NEON wallet sets the standard for web wallets in terms of security and user-friendly functionality. This wallet is only designed for storing NEO, Gas, and NEP-5 tokens (Ontology, Deep Brain Chain, RPX etc.). As with all single-currency wallets, be forewarned, if you send the wrong cryptocurrency type to a wallet for which it is not designed, you will probably lose your tokens or coins. MyEtherWallet My Ether Wallet, often referred to as MEW, is the most widely used and highly regarded wallet for Ethereum and its related ERC-20 tokens. You can access your MEW account with a hardware wallet, or a different program. Or you can also get access by typing or copying in your private key. However, you should understand this method is the least safe way possible,and therefore is the most likely to result in a hack. Hardware: TrezoLedger Brief History Mechanism and Security A hardware wallet is a physical key to your on-chain wallet location, with the private keys contained within a secure sector of the device. Your private key never leaves your hardware wallet. This is one of the safest possible methods of access to your crypto assets. Many people feel like the hardware wallet strikes the right balance between security, peace of mind, and convenience. Paper Wallet Paper wallets can be generated at various websites, such as https://bitcoinpaperwallet.com/ and https://walletgenerator.net/. They enable wallet holders to store their private keys totally offline, in as secure a manner as is possible.
Real World Example — Poor Practices
MtGox Hack history effects and security considerations MtGox was the largest cryptocurrency exchange in the world before it was hacked in 2014. They were handling over 70% of BTC transactions before they were forced to liquidate their business. The biggest theft of cryptocurrency in history began when the private keys for the hot wallets were stolen in 2011 from a wallet.dat file, possibly by hacking, possibly by a rogue employee. Over the course of the next 3 years the hot wallets were emptied of approximately 650000 BTC. The hacker only needed wallet.dat file to access and make transfers from the hot wallet, as wallet encryption was only in operation from the time of the Bitcoin 0.4.0 release on Sept 23rd 2011. Even as the wallets were being emptied, the employees at Mt Gox were apparently oblivious to what was taking place. It seems that Mt Gox workers were interpreting these withdrawals as large transfers being made to more secure wallets. The former CEO of the exchange, Mark Karpeles, is currently on trial for embezzlement and faces up to 5 years in prison if found guilty. The Mt Gox hack precipitated the acceleration of security improvements on other exchanges, for wallets, and the architecture of bitcoin itself. As a rule of thumb, no small-to-medium scale crypto holders should use exchange wallets as a long-term storage solution. Investors and experienced traders may do this to take advantage of market fluctuations, but exchange wallets are perhaps the most prone to hacking, and storing assets on exchanges for an extended time is one of the riskiest ways to hold your assets.
In a case strikingly similar to the MtGox of 2011–2014, the operators of the BitGrail exchange “discovered” that approximately 17 million XRB ($195 million worth in early 2018) were missing. The operators of the exchange were inexplicably still accepting deposits, long after they knew about the hack. Then they proceeded to block withdrawals from non-EU users. And then they even requested a hard fork of the code to restore the funds. This would have meant the entire XRB Blockchain would have had to accept all transactions from their first “invalid” transaction that were invalid, and rollback the ledger. The BitGrailexchange attempted to open operations in May 2018 but was immediately forced to close by order of the Italian courts. BitGrail did not institute mandatory KYC (Know your customer) procedures for their clients until after the theft had been reported, and allegedly months after the hack was visible. They also did not have 2 factor authentication mandatory for withdrawals. All big, and very costly mistakes.
Case Study: Good Practice Binance, the Attempted Hack
During the 2017 bull run, China-based exchange Binance quickly rose to the status of biggest altcoin exchange in the world, boasting daily volumes that surged to over $4 billion per day in late December. Unfortunately, this success attracted the attention of some crafty hackers. These hackers purchased domain names that were confusingly similar to “binance.com”. And then they created sufficiently convincing replica websites so they could phish traders for their login information. After obtaining this vital info, the scammers created API keys to place large buy orders for VIAcoin, an obscure, low volume digital currency. Those large buy orders spiked VIA’s price. Within minutes they traded the artificially high-priced VIA for BTC. Then they immediately made withdrawal requests from the hacked BTC wallets to wallets outside of the exchange. Almost a perfect fait accompli! But, Binance’s “automating risk management system” kicked in, as it should, and all withdrawals were temporarily suspended, resulting in a foiled hacking attempt.
Software Wallets Web/Desktop/Phone/Exchange Advantages and Limitations
As we said before, it is inadvisable to store crypto assets in exchange wallets, and, to a lesser extent, Web Wallets. The specific reason we say that is because you need to deliver your private keys into the hands of another party, and rely on that website or exchange to keep your private key, and thus your assets, safe. The advantages of the less-secure exchange or web wallets, are the speed at which you can transfer assets into another currency, or into another exchange for sale or for arbitrage purposes. Despite the convenience factor, all software wallets will at some point have been connected to the internet or a network. So, you can never be 100% sure that your system has not been infected with malware, or some kind of keylogging software, that will allow a third party to record your passwords or private keys. How well the type of storage method limits your contact with such hazards is a good way to rate the security of said variety of wallet. Of all the software wallets, desktop and mobile wallets are the most secure because you download and store your own private key, preferably on a different system. By taking the responsibility of private key storage you can be sure that only one person has possession of it, and that is you! Thereby greatly increasing the security of your crypto assets. By having their assets in a desktop wallet, traders can guard their private key and enjoy the associated heightened security levels, as well keep their assets just one swift transfer away from an exchange.
Hardware Wallets Advantages and Limitations
We briefly touched on the features and operation of the two most popular hardware wallets currently on the market, the Ledger and Trezor wallets. Now it will be helpful to take a closer look into the pros and cons of the hardware wallet storage method. With hardware wallets, the private keys are stored within a protected area of the microcontroller, and they are prevented from being exported out of the device in plain text. They are fortified with state-of-the-art cryptography that makes them immune to computer viruses and malware. And much of the time, the software is open source, which allows user validation of the entire performance of the device. The advantages of a hardware wallet over the perhaps more secure paper wallet method of crypto storage is the interactive user experience, and also the fact that the private key must at some stage be downloaded in order to use the paper wallet. The main disadvantage of a hardware wallet is the time-consuming extra steps needed to transfer funds out of this mode of storage to an exchange, which could conceivably result in some traders missing out on profits. But with security being the main concern of the vast majority of holders, investors and traders too, this slight drawback is largely inconsequential in most situations.
Paper Wallets Advantages and Limitations
Paper wallets are thought by some to be the safest way to store your crypto assets, or more specifically, the best method of guarding the pathways to your assets on the Blockchain. By printing out your private key information, the route to your assets on the Blockchain is stored 100% offline (apart from the act of printing the private key out, the entire process is totally offline). This means that you will not run the risk of being infected with malware or become the victim of keylogging scams. The main drawback of using paper wallets is that you are in effect putting all your eggs in one basket, and if the physical document is destroyed, you will lose access to your crypto assets forever.
Key things to keep in mind about your Wallet Security: Recovery Phrases/Private Key Storage/2FA/Email Security
Recovery phrases are used to recover the on-chain location for your wallet with your assets for hardware wallets like ledgers and Trezors that have been lost. When you purchase a new ledger for example, you just have to set it up again by entering the recovery phrase into the display and the lost wallets will appear with your assets intact. Private key storage is of paramount importance to maintain the safety of your on-chain assets! This should be done in paper wallet form, or stored offline on a different computer, or USB device, from the one you would typically use to connect to the 2 Factor Authentication (2FA) sometimes known as “two step authentication”. This feature offers an extra security layer when withdrawing funds from cryptocurrency wallets. A specialized app, most commonly Google Authenticator, is synced up to the exchange to provide a constantly changing code. This code must be entered within a short time window to initiate transfers, or to log into an exchange, if it has also been enabled for that purpose.
You must always consider the level of fees, or the amount of Gas, that will be needed to carry out the transaction. In times of high network activity Gas prices can be quite high. In fact, in December 2017 network fees became so high that some Bitcoin transactions became absolutely unfeasible. But that was basically due to the anomalous network congestion caused by frantic trading of Bitcoin as it was skyrocketing in value. When copying wallet addresses, double check and triple check that they are correct. If you make a mistake and enter an incorrect address, it is most likely your funds will be irretrievably lost; you will never see those particular assets again. Also check that you haven’t input the address of another one of your wallets that is designed to hold a different variety of cryptocurrency. You would similarly run the very great risk of losing your funds forever. Or, at the very least, if you have sent the wrong crypto to a large exchange wallet, for example on Coinbase, maybe you could eventually get those funds back, but it would still entail a long and unenjoyable wait.
How to Monitor Funds
There are two ways to monitor you funds and your wallets. The first is by searching for individual wallet addresses on websites specifically designed to let you view all the transactions on a particular Blockchain. The other is to store a copy of your wallet contents on an application that tracks the prices of all cryptocurrencies. Blockchain.info is the block explorer for Bitcoin, and it allows you to track all wallet movements so you can view your holdings and all the historical transactions within the wallet. The Ethereum blockchain’s block explorer is called Ether scanner, and it functions in the same way. There is a rival to Ether scanner produced by the Jibrel Network, called JSearch which will be released soon. JSearch will aim to offer a more streamlined and faster search method for Ethereum blockchain transactions. There are many different kinds of block explorer for each individual crypto currency, including nanoexplorer.io for Nano (formerly Rai Blocks) and Neotracker for NEO. If you simply want to view the value of your portfolio, the Delta and Blockfolio apps allow you to easily do that. But they are not actually linked to your specific wallet address, they just show price movements and total value of the coins you want to monitor.
That’s not all! You can learn how to transfer and monitor the funds in and out of your wallet by clicking on the link.
To be continued!
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submitted by UBAI_UNIVERSITY to u/UBAI_UNIVERSITY [link] [comments]

FYI: The all-time record BTCUSD high of June 2011 (31.9099) hasn't been broken yet (today's high is 31.699)

On Wedesday, 08 Jun 2011 17:10:38 GMT, 0.53 bitcoins were purchased for the price of 31.9099 USD/BTC.
This was followed, 4 seconds after (Wednesday, 08 Jun 2011 17:10:42 GMT), by two trades of, first, 1.094 BTC, then 0.003 BTC at the same price.
So the current high (as of this writing) of 31.699, which occurred at the following times (in GMT), is 0.2109 USD away from breaking the record.
2013-02-26 14:36:53 price:31.699000000000 vol:0.606562650000 2013-02-26 14:36:52 price:31.699000000000 vol:0.606562650000 2013-02-26 14:36:37 price:31.699000000000 vol:0.606562650000 2013-02-26 14:36:30 price:31.699000000000 vol:0.322758380000 2013-02-26 14:33:47 price:31.699000000000 vol:156.516048140000 
Source: Mt. Gox historical data from http://bitcoincharts.com/about/markets-api/
Parsed with this ugly Python script:
#!/usbin/python import urllib2, datetime, time all_time_high_url="http://bitcoincharts.com/t/trades.csv?symbol=mtgoxUSD&start=1307534400&end=1307707200" recent_high_url="http://bitcoincharts.com/t/trades.csv?symbol=mtgoxUSD" def print_high(URL): data = urllib2.urlopen(URL).read() newvar = data.split('\n') high = 0 high_trades = [] for trade in newvar: if float(trade.split(',')[1]) > high: high_trades.append(trade) high = float(trade.split(',')[1]) elif float(trade.split(',')[1]) == high: high_trades.append(trade) trade_val = float(high_trades[-1].split(',')[1]) for trade in high_trades[::-1]: array = trade.split(',') if (float(array[1]) == trade_val): #print "%s price:%s vol:%s" % (datetime.datetime.fromtimestamp(time.gmtime(int(array[0]))).strftime('%Y-%m-%d %H:%M:%S'), array[1], array[2]) print "%s price:%s vol:%s" % (time.strftime('%Y-%m-%d %H:%M:%S', time.gmtime(int(array[0]))), array[1], array[2]) else: break trade_val = float(array[1]) print "All time high:" print_high(all_time_high_url) print "Recent high:" print_high(recent_high_url) 
submitted by runeks to Bitcoin [link] [comments]

BTC market cap 6.2 billion USD compared to almost 14 billion USD in November 2013

--Lets discuss about market capitalization of Bitcoin, altcoins and why this is important for the crypto market.
Current BTC market cap is 6.2 billion dollars compared to almost 14 billion dollars in November 2013
The following data was pulled from coinmarketcap.com in case you want to double check it (All based on the 180 day historic):
And that is pretty much the relevant list for me, since the rest of the altcoins that I didnt include, IN MY opinion are not even worth mentioning.
So what do we take from this? We have seen some new regulations, bans, restrictions, scams, exchanges going bankrupt and scamming and overall bad news for cryptos in the last few months. On the other hand there are a ton of new startups bitcoin and crypto related to be launched this year; but will that matter? I mean, sure there is a ton of infrastructure being built around bitcoin which will make it easier to purchase and use bitcoin, this is actually good news (couldnt resist sry) but meanwhile the trust in cryptos is on the floor by the general public/media.
They can put a million bitcoin atms in every country, but who will be buying if the only thing you see are more and more shady exchanges going bankrupt and people losing their money? The market caps I put above reflect the current distrust in this system , at least as a store of value by the general public and THE BIG money. Those market caps dont even compare to even small companies and their stocks , nowhere near gold or silver just to give a few example. That means that cryptos are EASILY manipulable, we had clear examples of that happening during the mtgox fall. Some of those coins are being pumped and dumped by whales so much that is not even funny anymore. So this is a double edge problem you see? Whales will continue to manipulate the market as long as they can and the only way to stop it is by having a bigger market cap, which will only happen with bigger adoption or* bigger individual trust and direct demand. Bigger adoption wont happen in a non-trustable market and manipulation and shady stuff wont stop happening without bigger adoption/market cap. That is a round problem..
Some final thoughts, I really want to hear opinions, cricism, bashing, theories, crazy stuff, decent analysis and pretty much everything that come to your mind please. I post this often but if the idea of bitcoin was to have a p2p currency with low fees and etc advantages over traditional currencies, it really doesnt have to be worth $500 , $1000 or $20 for that to work, you just need quick converstion to fiat and a ton of exchanges, bitcoin can be worth what dogecoin is worth and still work as intended, the currency of the internet.
I have enjoyed the crypto-ride a lot but at this point I have taken enough profit to retire and I dont think I will just keep my "hodl stash" for much longer. I often hear a lot here that in the long term it will be xmoon value, but honestly? With the amount of altcoins and the amount of attacks to bitcoin, any altcoin could replace bitcoin anytime soon. All of this is pure speculation , I am a trader so I like to speculate. I am starting to think that in the longterm other cryptos will easily take over thanks to what bitcoin is building for them around the world. We could even see government-issued cryptos with parity in the long term as well, anything is possible and with that in mind , bitcoin doesnt seem that strong as it did initially.
Your thoughts? Discuss pls.
submitted by Displayer_ to BitcoinMarkets [link] [comments]

Estimating DPR's income after expenses & exchange rate

The FBI indictment states that SDPR earned ฿614,305 in commissions. It's been suggested that the expense of running SR, and the large changes in the exchange rate, may substantially reduce how many bitcoins DPR actually could have saved up, possibly to as low as ฿"150-200k". (The logic here is that if SR earns commissions of ฿100 in 2011 but needs to pay $100 of hosting bills, it needs to sell all ฿100 but in 2013, it would need to sell only ฿1.)
DPR surely spent some of the commissions on running SR & himself, but running a website isn't that expensive, and how badly the exchange rate bites will depend on details like how it fluctuated over time, how sales grew over time, and how big the expenses really are. The reduction could be tiny, or it could be huge. It's hard to tell based just on a gut estimate.
So: below, I take estimates of SR growth from Christin 2013's crawl and the FBI indictment, infer linear growth of SR sales, estimate daily expenses, and combine it with historical Bitcoin exchange rates to show that DPR probably has most of his bitcoins and 200k or lower is right out.

Model

My strategy is to model Silk Road's growth as linear in dollar amounts, but with different amounts of bitcoins each day depending on the exchange rate, subtract a daily operating cost, and then sum the commissions.
So say that on 1 January 2012, SR did $10k of business, and the exchange rate was 1:100, so ฿100 in turnover, and SR gets an average commission of 7.4%, so it would get ฿7.4.
To do this, I need to estimate the revenue each day, the expenses each day, the commission each day, and the exchange rate each day. Then I can multiply revenue by commission, subtract the expense, and sum the left overs to get an estimate of the total bitcoins available to DPR which he could (or could not) have spent.

Expenses

  1. Employees: we know that Libertas and one or two others were employed at salaries of $1-2k per week. I'll assume there were 2 others, and each was paid the max of $2k per week, which means total daily employee expenses is (2 * 2000) / 7 = $571 per day. (Unfortunately, the indictment doesn't give any clear indication of their numbers, just referring to them as 'they'.)
    This is a conservative estimate since I'm pretty sure that SR was a one-man operation until probably in 2012.
  2. The servers: we know there were at least 2 servers (the main site, and the forums). The task of hosting the sites does not seem to be too bandwidth or disk-space intensive, and servers are extremely cheap these days. The use of DataClub.biz and GigaTux suggest DPR was using cheap VPSes. I'll estimate a monthly expense of $500 ($250 a piece) which per day is $16.
    This is also very conservative.
  3. DPR: his rent of $1000/month has been widely bruited about, and in general he reportedly spent little. Makes sense to me, I've met and seen the rooms of a few well-paid geeks in SF like DPR, and I would believe them if they said they didn't spend much money on anything but rent & food. I'll bump this up by $1000 for food and all expenses, since he apparently didn't even eat out very much. So $2000/31=$65.
    Doubling his rent for total expenses is probably also conservative; for most people, rent is not >50% of income, but SF is incredibly expensive to live in.
This gives a daily expense of $652 (or a monthly total of $19.1k in expenses). As you can see, the employees are by far the most expensive part of running SR in my estimate, which makes me wonder if maybe Libertas was the only employee.

Hitmen

Assuming the details about DPR hiring hitmen in the indictments are reasonably accurate, we can throw in two large expenses:
  1. an $80k expenditure for killing his Maryland employee. The first payment of $40k was made on 4 February 2013 and the second/final payment of $40k was made on 1 March 2013 (pg9). If we use the exchange rate of those two days, then the hit cost DPR (40000 / 20.42) + (40000 / 34.24) = ฿3127
  2. the second hit was priced in bitcoins (pg23):
    Through further messages exchanged on March 31, 2013, DPR and redandwhite agreed upon a price of 1,670 Bitcoins
So the hits cost DPR somewhere around ฿4797. An extremely large and painful amount, by most standards, but still nowhere near ฿10k - much less higher.

Revenue over time: first and last days

Christin:
Table 3 provides a breakdown of the feedback ratings from 184,804 feedback instances we collected...In Figure 12, we plot an estimate of the daily commissions collected by Silk Road operators as a function of time. We simply reuse the previous estimates, and apply both the fixed 6.23% rate, and the schedule of Table 4 to each item. We find that the new schedule turns out to yield on average a commission corresponding to approximately 7.4% of the item price.
The FBI:
From February 6, 2011 to July 23, 2013 there were approximately 1,229,465 transactions completed on the site...$79.8 million (USD) in commissions.
According to Bitcoin Charts, on 23 July 2013, the MtGox price was $91. (As the most famous exchange, any FBI estimate almost certainly used it.) So that implies $79,800,000/91=฿876,923. Or to put it the other way, at $79.8m in transactions, then using Christin's 7.4% estimate, total sales were $1,078,000,000 or ฿10,780,000.
Wikipedia says "These transactions involved 146,946 unique buyer accounts, and 3,877 unique vendor accounts.", and "The total revenue generated from transactions was 9,519,664 bitcoins. Commissions collected from the sales by Silk Road amounted to 614,305 bitcoins."
(So the numbers aren't too different: 614k vs 876k and 10.8m vs 9.5m.)
We'll set 6 February 2011 to $10 in sales (probably not too far from the truth). But what about 23 July 2013? pg20 of the indictment says:
For example, on July 21, 2013 alone, DPR received approximately 3,237 separate transfers of Bitcoins into his account, totaling approximately $19,459. Virtually all of these transactions are labeled "commission".
19459 / 0.074 = $262,959 that day. $20k in commissions is extremely impressive, since Christin estimates only $4k/day commissions as late as the end of July 2012 - so SR must have grown by 500% from 2012 to 2013. We use this revenue estimate as our endpoint and interpolate from $10 to $262,959 over the ~900 days SR existed. This is a conservative way of modeling SR, since the graphs in Christin indicate that SR saw sigmoid growth in 2012, and 2013 would've seen even more growth (to be consistent with the 2013 July commission datapoint being 5x the 2012 July commission datapoint).

Exchange rate

I grab weighted price for each day between 6 February 2011 & 23 July 2013, and stuff it in a CSV.

Analysis

R> sr <- read.csv("http://dl.dropboxusercontent.com182368464/dpr-exchangerate.csv") R> sr$Sales <- c(10, rep(NA, 890), 262959, NA, NA) R> # revenue increased by $300 a day: R> l <- lm(Sales ~ as.numeric(Date), data=sr); l Coefficients: (Intercept) as.numeric(Date) -285 295 R> sr$Sales <- predict(l, newdata=sr) R> sum(with(sr, (Sales * 0.074 - 652) / ExchangeRate)) [1] 803397 
Or we can run the estimate the other way: if DPR had to spend $652 a day and converted at that day's exchange rate, and we took into account the hitmen, how many bitcoins would he have spent in total?
R> sum(with(sr, 652 / ExchangeRate)) [1] 127154 R> (614305 - 127154) - 4797 [1] 482354 

Conclusion

Obviously ฿803k > ฿614k, which implies that the linear model overestimates sales in the early life of SR; but going the other direction and estimating just from costs & hitmen & total commission, we still wind up with nearly ฿500k (and that was after making a bunch of highly conservative assumptions). The fewer sales (and commissions) early on, the less of a fixed number of bitcoins will be sold. So, while it may initially sound plausible that DPR could have been forced to part with say ฿400k to pay for SR and sundry expenses, the distribution of sales and fluctuations of Bitcoin value mean that this simply does not seem to be the case.
Unless there are some abandoned yachts floating around the SF Bay Area, DPRoss Ulbricht probably has ฿500k-614k.
submitted by gwern to SilkRoad [link] [comments]

TradingView + QuadrigaCX?

I use tradingview a lot when trading on other exchanges, but I noticed that there isn't a listing for a BTCCAD ticker from QuadrigaCX. The only BTCCAD ticker available is historical data from mtgox.
I know that bitcoinwisdom has QuadrigaCX charts, but it's limited in functionality compared to tradingview.
I'm wondering if there are any plans to add QuadrigaCX data to tradingview, or if there's any way to pull the live data, given that the chart on QCX is pretty dismal. It would make sense given that it's the largest Canadian bitcoin exchange.
submitted by apehx to BitcoinCA [link] [comments]

Tax season has arrived (in the US). Maybe you didn't do things "right" in 2013. If you want to in 2014, I've made a small tool that will help you do so. [x-post /r/bitcoin]

Most of you will remember this thread by a tax attorney where he gave lots of helpful advice. The most important for the average consumer, I think, is keeping track of your basis. In order to do so, you need to know how much they were worth when you got them. This is where my tool steps in.

http://mineoas.us/bitcoin/historic

Here you can input any date1 and time and find out what the price of bitcoin was at that time at bitstamp, coinbase, mtgox, and btce (want more added? Let me know). You can even get historic data in a computer-friendly format for your automated tools like this, or like this if you'd rather.
For quick manual checks, you can input the date/time/timezone information at the url above. Or if you'd like help automating the process, see the end of this post.

http://mineoas.us/bitcoin/current

Here the process is much simplier. If you'd only like to see the current value at any of the four exchanges listed above (and for some reason you don't want to pole them directly or look at pretty graphs and such), then simply choose the exchange(s) you'd like and the format you'd like the data in.
Please post any questions or comments. Hate is also accepted in the form of private messages, though comments are cool too.
[1] any date. Data collection started January 7th, 2014 07:06:01 UTC. Therefore, I unfortunately cannot help you with prices during all of 2013 and the first week of 2014. EDIT: I've added data from at least 2011 for mtgox, bitstamp, and btce.

Automatically getting data

Current data is easy. Simply put the format and the exchange in the url, like so
Historic data is slightly harder. It requires a date, time, and an optional timezone offset from UTC.
All together you get url's like these
submitted by pointychimp to BitcoinMarkets [link] [comments]

[Graph] Krugman's "Bitcoin is not a stable store of value" debunked.

I decided to utilize historic values to examine Krugman's statement:
To be successful, money must be both a medium of exchange and a reasonably stable store of value. And it remains completely unclear why BitCoin should be a stable store of value.
No one will deny that Bitcoin is currently extremely volatile. This is not an examination of that point. This is focused purely on the question of whether, historically, Bitcoin has proven to be a good store of value. No one can predict the future, so the best we have is historical data.
This is particularly of interest to me, give the recent tumble in Bitcoin price, as well as recent reports of the third worst collapse of the dollar in the past decade.
Methodology
To examine the quality of Store of Value, I examined the historical prices of seven different assets. I envisioned a buyer of the asset purchasing it on a given day, and holding it for some length of time (X), ranging between one day and about 3.5 years (which is all the data we have for Bitcoin).
The measurement is this: if you choose a random day to buy the asset, and you buy it at the mid-point price that day, and hold it for X days, what is the probability that it will still have 100% of its value after X days. It seems like a reasonable assumption is that an asset that is a good store of value would perform well in this scenario, and retain 100% of its value a high percentage of the time.
The seven assets were:
  1. Bitcoin purchased on Bitstamp. Data provided by BitcoinCharts.
  2. Bitcoin purchased on Mt. Gox. Data provided by BitcoinCharts.
  3. Bitcoin Freely Exchangeable: For this measurement, I used Mt. Gox prices as mentioned above, until May 13, 2013 (the day before the US Government seized funds), and Bitstamp prices since then. This is an attempt to eliminate the odd pricing on Mt. Gox due to the withdrawal challenges.
  4. The Dow Jones FXCM Dollar Index, data provided by Google Finance. The data for this index was available going back to 4/18/2011. It's an index of the dollar, presumably comparing to other currencies. (This may be mislabeled, calling it a fund. Not sure.)
  5. Spider Gold Shares GLD, an ETF for Gold. Data provided by Yahoo Finance. This data goes back to 11/18/2004.
  6. Spider Gold Shares GLD, for the period that Bitcoin has been traded. Same data source as #5, but a subset of the data.
  7. The US Dollar (1914-2013), reflecting the US monthly inflation rates. This data was provided by usInflationCalculator.com.
In all cases, I used the average of the daily high and the daily low, when available. In the case of the Dollar (1914-2013), I used monthly inflation rates.
In all cases, I set the purchase date to one of the days that the asset was traded. In the case of the Dollar (1914-2013), I utilized the first of the month. And I set the ending valuation date as the next time the asset traded, after X days elapsed. In the case of the Dollar (1914-2013), this would be the first of some future month, after X days had passed.
Results
Here's the Graph.
The best performing asset was buying Bitcoins on Bitstamp. In all cases historically, if you held the asset for 274 days, the asset was still worth 100% of your original investment.
Mt. Gox and the Freely Exchangeable Bitcoin measurements were similar: After 622 days, 100% of the time, your original invested value was retained.
The Dollar fund (index, actually) underperformed all Bitcoin options, when measuring periods less than 243 days. But for periods of between 471 days and 1033 days, 100% of the time, the dollar fund retained its complete value. (No data for periods longer than 1033 days).
The Gold ETF underperformed Bitcoin, whether you looked at the period of Bitcoin being on the market, or the life of the ETF.
And, no surprise, the dollar as measured by inflation, came in dead last. In the past 100 years, it has only retained its value month-over-month about 15% of the time. And the longer you held it, generally, the worse off you were.
All data is available at the sources above, and the computations are available.
The graph of the results is licensed for you to use widely with attribution.
I hope this helps when you are talking to the Krugmans of the world.
(Edit: it's -> its)
submitted by E-GovLink to Bitcoin [link] [comments]

Tax season has arrived (in the US). Maybe you didn't do things "right" in 2013. If you want to in 2014, I've made a small tool that will help you do so.

Most of you will remember this thread by a tax attorney where he gave lots of helpful advice. The most important for the average consumer, I think, is keeping track of your basis. In order to do so, you need to know how much they were worth when you got them. This is where my tool steps in.

http://mineoas.us/bitcoin/historic

Here you can input any date1 and time and find out what the price of bitcoin was at that time at bitstamp, coinbase, mtgox, and btce (want more added? Let me know). You can even get historic data in a computer-friendly format for your automated tools like this, or like this if you'd rather.
For quick manual checks, you can input the date/time/timezone information at the url above. Or if you'd like help automating the process, see the end of this post.

http://mineoas.us/bitcoin/current

Here the process is much simplier. If you'd only like to see the current value at any of the four exchanges listed above (and for some reason you don't want to pole them directly or look at pretty graphs and such), then simply choose the exchange(s) you'd like and the format you'd like the data in.
Please post any questions or comments. Hate is also accepted in the form of private messages, though comments are cool too.
[1] any date. Data collection started January 7th, 2014 07:06:01 UTC. Therefore, I unfortunately cannot help you with prices during all of 2013 and the first week of 2014. EDIT: I've added data from at least 2011 for mtgox, bitstamp, and btce.

Automatically getting data

Current data is easy. Simply put the format and the exchange in the url, like so
Historic data is slightly harder. It requires a date, time, and an optional timezone offset from UTC.
All together you get url's like these
submitted by pointychimp to Bitcoin [link] [comments]

[Question] Bitcoin Trade/Price Alerts

I want /bitcoin's opinion of a bitcoin trading tool I developed.
I have dumped hundreds of hours into a program that does Bitcoin backtesting with various bar lengths (min, hours, double hour, etc) with live and historical data. Profitable algorithms have been tested based on industry standard trading indicators like:
After the backtests proved comfortable returns, I hooked up email/SMS alerts to notify me when to make trades. The last few months have been very financially reward, but that isn't why I wrote this.
I wrote this, because Bitcoins are awesome, I love programming, and I love financial trading.
In future versions, I plan on adding:
Now, I am seriously considering turning this into a website for anyone to use, but I don't want to waste my time building out an awesome website if no one would be interested in using it.
So, tell me /bitcoin, would you use such a website? If not, why?
submitted by bitcoinalerts to Bitcoin [link] [comments]

[Table] IAmA: I'm the CEO of an online underground black market, AMA

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-06-08
Link to submission (Has self-text)
Questions Answers
Aren't you worried about bringing more attention to your site by doing something like an AMA rather then just relying on word of mouth? By doing something like this don't you run the risk of law enforcement agencies paying more attention to the fact that you exist? We want to bring attention to the site and bring our vendors more buyers. Law enforcement is going to be aware of us (and probably already is) regardless of the way we choose to put our product out there.
What made you decide to go into the business of running such a site? Just the money? Or other reasons? It was the appeal of providing a service that we believe in and a business decision. Prohibition is a backwards process.
We have taken technical measures to prevent and offset these risks if they arise. As for our identities being revealed, if a competitor is able to do it then law enforcement would be able to do it. That would be of a larger concern to us. We take many measures to protect our identity.
There are many legal items for sale as well, but the bulk of our items are drug related. We have no preference over what gets sold (assuming it does not break our restricted items rules).
We are indeed. We're looking for a web marketeSEO willing to be paid in Bitcoin.
Im curious as somewhat of amateur SEO marketer, how does one market a Tor Site? Surely it can't be done in regular ways such as adwords, keyword optimization, etc, etc. It is true that we can't use regular methods however we are after a person who can make YouTube how-to videos, create forum posts in various communities to increase the exposure to our site.
I've done some marketing and SEO, so just drop me a PM if you still need somebody. Thanks for your interest plerer, please PM us with your experience.
So how many inboxes have you gotten from people asking for jobs? If you aren't sick of them already, I'm interested in at least more information. I'll send a message should you reply to this. We've received about 20, but we're still looking.
Are you looking for resumes, cv's? how are you choosing a candidate? Based off previous work, and whatever data the applicant is comfortable providing.
What are your restricted items? And why don't you allow people to sell them? Restricted items include anything related to paedophilia, poisons, loans, investment opportunities, assassination services or anything which can inflict harm on another person. If you infringe on these rules we will terminate your account instantly.
Trading any digital currencies (for example Bitcoins, Litecoins, Ukash, Moneypak, Western Union, Moneygram, etc) is forbidden and will result in the items being removed and a warning or ban being issued to the vendor. This is to prevent scams.
The trading of counterfeit money is forbidden, and will result in a warning or ban being issued.
We also do not allow listings for 0.01 in the money section. Your items must have a full cost associated to them to prevent people processing transactions outside of the escrow system.
We allow the purchase of physical fiat for Bitcoins and/or Litecoins (has to be legitimate currency; not counterfeit). This is the only exception to the currency rule. We do not, however, allow the reverse of these transactions i.e. customers mailing vendors real currency as this is outside the escrow system.
As an example, if you were a vendor and you wanted to buy $1000 worth of Bitcoins/Litecoins you could do so by making a listing for $1000 labelled "Buying $1000 worth of Bitcoins/Litecoins", and then mail the real currency to the purchaser of your listing in exchange for their Bitcoins/Litecoins that are currently travelling through the escrow system.
Why are investment opportunities banned? Because they're commonly used as scam tactics.
What about fake Ids? Can you guys make/sell those? Our vendors sell a lot of those.
Why is counterfeit money banned? Part of the "harm to others" rule? It's frequently used in scams. When we allowed it, 100% of the counterfeit money sales were scams. It's also hurting local businesses etc.
Would you mind posting a link to the be-all, end-all, one stop tutorial installation page to safely and securely start using TOR, Bitcoin and Atlantis? 1) Download and install the Tor browser bundle - Link to www.torproject.org 2) Download and install the Bitcoin client - Link to bitcoin.org 3) You'll need to obtain some Bitcoins. The most popular exchange is MtGox (www.mtgox.com). They offer a few ways in which you can convert your local currency to Bitcoins. 4) Using the Tor browser, visit Atlantis (URL can be found at /Atlantis) 6) Click on the deposit BTC link under account settings and transfer your Bitcoins to that address. You'll need to wait for 1-2 hours before the transfer propagates across the network. 7) You can then shop for any items you would like whilst being confident on security and privacy.
Someone help me with step 3? Its just telling me I cant open the program. That step is optional, you don't HAVE to use PGP. Especially if you just plan on having a browse.
Just commenting to find this later. )
Can you send me some drugs? Edit: Not a cop. Our vendors can.
How do you rate yourself compared to the road? We've had no downtime.
Our site is much more responsive.
We have cheaper commission rates allowing sellers to make more profit on their sales and buyers to buy them for cheaper.
We have automated PGP encryption of messages for the members who refuse to send their messages using PGP. We have an advancement fan management system, allowing sellers to reach out to all of their customers.
We have a more 'modern' user interface.
We have buyer feedback (none of the other marketplaces have this functionality).
We have an anonymous feedback system that allows you to determine is feedback is fake, but at the same time does not reveal anything about your buying patterns.
We support Litecoin as well as Bitcoin (the first market to support multiple currencies).
We listen to our user feedback, we have a rapid development cycle and new features are constantly being improved upon and added.
I'd like to personally thank you guys for everything you do to make online drug purchasing a safer and better experience. +altcointip 1 ltc. That's very kind of you, thank you! :-)
We've had no downtime. What do you say to all of the rumors that you were funding the DDoS aimed at the Road when your site first came online to pull traffic? We released an official statement regarding those accusations, it can be found on our forum. In short: We had nothing to do with it. It was speculative rumor.
What are you doing to cut down on scams and discrimination against new buyers? If your rules are that vendors are not supposed to deal outside of escrow, what are you doing about those vendors who require it in their policies? > "Yes we have caught scammers, but we've banned them swiftly. We pushed out new changes earlier that helps reduce the number of scams, all feedback contains the amount of the purchase, preventing users from leaving fake feedback on $0.01 listings. It also contains an 'anonymous' user ID so sellers/buyers can confirm whether the user leaving feedback has left feedback before. This helps catch scammers leaving fake feedback. The ID is unique to the sellebuyer combination, so it cannot be traced across transactions to determine a buyers buying patterns."
Further to the above we've made it easy to report suspicious vendors, there's a button directly on their profile that will notify support.
In regard to the vendors that require it in their policies, they will be warned or banned if they request FE without meeting our FE requirements (a minimum of 30 5/5 transactions). This system has already saved countless people from scammers.
New buyers are encouraged to purchase small orders first to build their reputation and feedback and find vendors who are pleasant to deal with. I haven't seen a problem of buyer discrimination yet (apart from on scammer profiles saying 'you must FE because you have no feedback').
If I am not mistaken, the Black Market Reloaded also has buyer feedback. Not that I would know, as I never go to such sites... I'm not sure, but I've heard its a haven for scammers, and they have no escrow process.
How about weighting reviews based on the amount of funds transferred? E.g., a $10 transaction review is worth 10x the review of a $1 transaction. This is a good idea, however this would impact the freshness of the feedback if we sort it by the value.
Aren't you worried the authorities are tracking this ama? They probably are. We aren't worried.
Why did you decided to accept Litecoin first? Also do you think Litecoin price will go up because of your site? Also how long did it take to prepare and set everything up? We wanted to promote Litecoin because it has a few awesome improvements over Bitcoin, so we started with Litecoin. I think a lot of the value has come from Atlantis already, and more will come from Atlantis with our growth. It's taken a year to get the site where it is at the moment with a few developers working on it mostly full time.
I've checked out atlantis, purely out of curiosity. I don't do drugs at all, but it seems that the prices are higher than street prices. Why do people prefer to buy on Atlantis? Is it due to knowing they're getting good quality? It seems riskier than buying drugs on the street. Greater quality, ease of access, safer than dealing with unknowns on the streets. A lot of people don't have access to a friendly in-person dealer.
The prices vary, some are actually cheaper then what you can find on the street.
Some of the main reasons why people choose to purchase off Atlantis include;
1) Quality of the merchandise. Because of the sites feedback and reputation system, you can be certain that you will be receiving an unadulterated item.
2) Order in the comfort of your own home and have the parcel delivered to you (with tracking).
3) Thousands of items to choose from. Sometimes a local dealer will not have a product you are after.
4) Deal with currencies which can be used to purchase items without the reliance of fiat.
5) Encrypted correspondence, more secure then messaging/calling your local dealer.
So how is it possible to get delivery anonymously? i mean, at some point don't you have to give your name and address to the seller? And if they are ever busted and you are in their database as a customer; aren't you kinda...you know...fucked? Thanks for the AMA by the way. Some purchasers use fake names to hide their identity, others don't. We have a strict rule where vendors must remove all information about their clients once the parcel has been shipped (e.g from their computer). Also, once the order has been shipped, the address is automatically purged from our database.
How do you enforce a rule like that? what's to stop a vendor from simply writing an address down on a sticky note? Unfortunately we can't enforce it, we can only advise them to do it. Our system also permanently deletes this information after first viewing.
So...you're an online drug dealer? How is this legal or how are you skirting laws to keep yourself from prosecution? I don't know of any countries/territories where selling Heroin would be legal. We're not a dealer, we provide the platform for dealers to sell their products in a secure environment. The Tor network hides our service from government officials. You can have a look into "Tor hidden services" if you're interested.
How do you usually guarantee the safety of your "company' and the buyer? We use a Tor hidden service to hide our service from the prying eyes of government officials: Link to www.torproject.org
Do you ever deliver in bulk? This allows our servers IP address and location to remain hidden.
Are there any suppliers that you deal where they are a legal company on the surface? Users must access our site using the Tor hidden browser, protecting their identity: Link to www.torproject.org
What are your personal political views? What about certain topics like child pornography, necrophilia or any other cultural taboos that are usually at the expense of another unwilling person? We don't deliver anything, but our sellers commonly deliver in bulk. We facilitate the platform, the sellers are from the general public.
What are your top non-drug related products? See above.
Is your company white collarish or do you have people who work with you that use violence and intimidation? We do not allow listings such as child pornography and necrophilia. We do take a moral stance, there's a large difference between child pornography and drugs.
Is government bribery common with your company? Probably porn.
We don't use violence or intimidation, nor do we have any need to. We're an online platform. The idea is to move away from the violent streets.
No, that doesn't happen (or hasn't happened yet).
Oh I see so basically your site is like the middle man am I correct? Alright that does make a lot of my questions moot. That's correct.
Have you had any scares before? None.
How illegal is Atlantis? I mean, not for the vendors/buyers, but how illegal is it as the CEO of the website? (Basically, how much trouble would YOU get into, if shit hit the fan?) Google "farmers market bust" for an example.
What did those men do wrong, and do you think you've solved to that issue? A lot of silly mistakes and using very traceable means of trade.
A screenshot of a website doesn't really prove anything. Do you have any proof that you are the CEO of this company? I've added a link to the AMA on the footer of the website.
Without going into any personal details (obviously) what brought you to this biz? I.e. formal versus informal education... comp sci vs. Mba-type edu... or whatever ur able to say. Can't go into education specifics sorry.
Also, as someone who is intrigued and has made half-assed attempts to get a bit/litecoin account setup and given up after hitting various obstacles, am I right to assess your biggest barrier to growth are the hurdles customers need to jump through to make transactions? Or am I just a stupid brain? If you'd like any assistance getting set up let us know, we can point you in the right direction. The seeming complexity of cryptocurrency is definitely a barrier to growth. It's all relatively simple once you get your head around it though. Bitcoins/Litecoins are far easier to obtain in certain countries than others.
Do you keep lawyers on retainer? We have a few lawyers using our platform to offer legal advice for a fee.
Hi. I have never posted/commented on reddit before, after about 5 years of being a lurker. This is too cool an opportunity not to. It's progressed to a full time job for us at this point. There isn't a day we aren't working on Atlantis.
How many hours a week on average do you work? What do you do outside of work for fun? What kind of music do you listen to? I'd love to answer those questions but they're a bit revealing sorry.
What is the biggest security threat you have had? We did a lot of planning in relation to this and haven't had any security issues so far. Our biggest concern would be if a security flaw was discovered in the technology we rely on (e.g flaw in the onion routing protocol or the Bitcoin protocol).
I've heard these sites are much more common than people realize. How much traffic do you guys get? We're one of the largest markets, and the most refined. We get thousands of visitors and hundreds of orders are processed through Atlantis a day.
How come you can post this here and not be instantly arrested? Link to www.torproject.org
Link to en.wikipedia.org
What does one sell on a black market that falls under the "Home & Garden" section...? Ikea lamps...
And nutrient dense soil, growing equipment, CFL's, HPS lamps, etc.
Why do buy / sell these types of items on the black market rather than any major online retailer? Since we use cryptocurrencies its a good way for people to use them to buy other items. Think of it like eBay but with a twist.
Are you worried that your usage of Tor contributes to undermining its image as a legitimate utility for online anonymity, in the same way that Bittorrent is often immediately associated with piracy? We hope that our usage does not tarnish its perception of being a legitimate tool. The core of our operation is to give people access to a 'true free market' whilst still protecting our users and ourselves. However just like a knife - it can be used for good and for bad.
We can only hope that the media and government doesn't portray Tor as a tool used by 'terrorists and criminals'.
Have you caught any scammers yet? Yes we have caught scammers, but we've banned them swiftly. We pushed out new changes earlier that helps reduce the number of scams, all feedback contains the amount of the purchase, preventing users from leaving fake feedback on $0.01 listings. It also contains an 'anonymous' user ID so sellers/buyers can confirm whether the user leaving feedback has left feedback before. This helps catch scammers leaving fake feedback. The ID is unique to the sellebuyer combination, so it cannot be traced across transactions to determine a buyers buying patterns.
Whilst you have swiftly banned sellers, can't they just make a new account? With the nature of TOR you couldn't ban their IP could you? That is correct, we cannot ban them by IP (there is no distinction on the Tor network). They would need to pay a new vendor account fee every time they create a new vendor account.
What are you doing to cut down on scams and discrimination against new buyers? We have implemented a few metrics in the feedback system, these include;
1) Buyer and seller feedback, rated in quality (out of 5).
2) Total purchases made.
3) Account age.
4) Item price in feedback history.
5) User hash which allows people to identify if the buyer is unique or the same person leaving fake feedback whilst still keeping their username anonymous.
We are currently working on two new metrics, these include;
1) Was the parcel received.
2) The users historic purchase total.
Unfortunately new buyers will always be a risk for vendors however with parcel tracking and the escrow system, these risks can be mitigated.
What's the best selling item? The most popular item is Cannabis.
What non-legal things other than drugs are done through your site specifically what's the most common things non-drug? Popular non-legal items other then typical illicit drugs include money handling services, identity services (generating passports) and cybercrime (malware).
The most common popular legal items include books, digital goods, legal money services and erotica.
So the site says I can get a FREE half gram of hash... do they actually send you that? Yes, vendors commonly offer free incentives to gather good reputation at the beginning of their seller career.
How did you get your first customers ? How did you advertise the site like this in the first place and create the initial market base? We posted an announcement in two cryptocurrency community forums and the news spread quite quickly.
We also offered incentives for vendors at other market places to sign up and take advantage of trading with no commission fees.
Where does your revenue come from, if you have no commission fees? Is it purely from cost associated with becoming a vendor? When we were running the 3 month commission free special, our income solely came from the vendor registration fee.
Our current commission structure can be seen below;
Value less than or equal to $50 6% Value less than or equal to $150 5.5% Value less than or equal to $300 5% Value less than or equal to $500 2% Value less than or equal to $1000 1.5% Value greater than $1000 1%
Do you have a retirement plan? Like quit and let someone else take over in a year? Everyone does gets busted in the end. Hell even anonymous. Usually via neverending greed or pride. We don't plan on retiring anytime soon, we've only just begun :)
How much do you make ?(give us a range ?) Is the money vs risk worth it ? Unfortunately we can't give you specifics on how much we earn however all of our profits have been used to enhance our platform. We take more pride in forming a true free market place rather than the dollars earned.
That's actually pretty cool, thanks. Oh also what made you want to get into this buisness? We love cryptocurrency, libertarianism, technology and saw an opportunity to make a free market place when SR was experiencing frequent down time.
Are you a regular customer at Atlantis yourself and what do/did you buy? We do everything on Atlantis except for buying products on it ;)
What is the craziest item you have ever sold? The top two items would be used sex toys/underwear (female vendor) and fig tree cuttings.
Fig tree cuttings? Can't someone just buy that on Ebay? O.o The ones from Atlantis are prettier.
How pure is the coke? It depends on the vendor. They advertise the purity on their product, the majority of it seems to be in the 85% range.
Why would the purity matter, and wouldn't someone prefer 100% pure over something that was cut with other items? Purity matters because you require less of the drug to get the same effect. Other than that it's mostly irrelevant. Yes, you would prefer 100% purity. 85% purity is very high compared to most street cocaine. On average, street cocaine is around 50% purity.
What exactly is usually put in cocaine other than coke to dilute the purity? Benzocaine, Caffeine, Phenacetin and sugars are the most common impurities.
Doesn't "CEO" relate to corporate organizational stucture? Why is a black market operating as a legal company would? We're still an organization and an organization requires leadership.
What's up with al the cats??? Incognito mode.
How much does your physical location matter to run a business like yours? Would it be any easieharder if you were in say, Somalia or on a ship in the ocean in International waters? We have team members in various different countries. I would say physical location is relatively irrelevant. We can access our systems from anywhere, and our location and the server location is protected by the Tor hidden service network.
Is there anything that you will not sell on your website? Restricted items.
Restricted items include anything related to paedophilia, poisons, loans, investment opportunities, assassination services or anything which can inflict harm on another person. If you infringe on these rules we will terminate your account instantly.
Trading any digital currencies (for example Bitcoins, Litecoins, Ukash, Moneypak, Western Union, Moneygram, etc) is forbidden and will result in the items being removed and a warning or ban being issued to the vendor. This is to prevent scams. (See exceptions below for exceptions to this rule).
The trading of counterfeit money is forbidden, and will result in a warning or ban being issued.
We also do not allow listings for 0.01 in the money section. Your items must have a full cost associated to them to prevent people processing transactions outside of the escrow system.
We allow the purchase of physical fiat for Bitcoins and/or Litecoins (has to be legitimate currency; not counterfeit). This is the only exception to the currency rule. We do not, however, allow the reverse of these transactions i.e. customers mailing vendors real currency as this is outside the escrow system.
As an example, if you were a vendor and you wanted to buy $1000 worth of Bitcoins/Litecoins you could do so by making a listing for $1000 labelled "Buying $1000 worth of Bitcoins/Litecoins", and then mail the real currency to the purchaser of your listing in exchange for their Bitcoins/Litecoins that are currently travelling through the escrow system.
Regarding the IT infrastructure, Do you own the servers that host the website? How are the servers connected to the internet? Is it a corporate leased line or just some dodgy hacked cable modem :) Without going to depth, we use dedicated servers provided by a hosting company. All servers are equipped with a 100Mbit WAN link.
I'm probably misunderstanding Tor a bit here then, but how come the hosting company doesn't get into hot water and told to stop hosting Atlantis? Tor traffic looks similar to SSL and our hosting provider doesn't snoop on our servers :-)
Do you pay for that in bitcoins? Is the server encrypted such that someone with physical access couldn't discover its contents, should they choose to? We pay for the servers via anonymous methods and the disks are encrypted. However when running certain applications, the vulnerable point would be RAM.
I'm not sure if the second is possible whilst also offering an internet service, you must have unencrypted stuff in RAM? We also monitor the data center for unauthorized access.
. To me hosting seems to be the weakest link in your personal security (I'm sure users are fine with your encrypted messages). Have you considered distributed hosting on other darknets like freenet? For all the services we offer, we have redundant servers ready to fail over to.
I hope i'm not late to the party, but do you have any thoughts/reactions towards the current chatter regarding PRISM and the NSA? Maybe you can talk about some precautions you took or are taking as a result? Never too late. It's quite scary actually. Tor, SSL, PGP, OTR, all of these technologies are your friends.
Although I will say this is nothing new, the NSA has been doing this for years now. I guess it's finally caught up to them.
We haven't started taking any new precautions as a result, we were already using them.
Would you say that those tools are your friends even if you're not interested in anything too illegal? Props for your efforts though, must be interesting to run that kind of company :) Definitely, with PRISM making headlines this week its always good to protect your privacy.
What is the airspeed velocity of an unladen swallow? I believe it's 11 meters per second.
Had anyone ever been caught in sting operation? We haven't had any incidents reported to us yet (most vendors are very careful and security conscious) however we have read a case in the past where a vendor was caught on a different market place. The market place wasn't to blame, it was just that the vendor wasn't careful with his operation and thus got discovered.
Whats a "virtual credit card"? Prepaid virtual credit cards aren't issued by a bank, have no contract, usually have a set amount and can be used online.
Can't access your site (yet) but do you have vendors in Australia? We have a few Australian vendors, yes.
You're probably not still around, but is it even possible to order items on your site from Japan? I have not even looked at Atlantis or SR because I don't think it's even possible. To my knowledge yes. But don't quote me on that. I think I remember seeing a few Japanese located vendors.
How does a typical black market starts up? For us, we love cryptocurrency, libertarianism, technology and saw an opportunity to make a free market place when SR was experiencing frequent down time.
When deciding for your brand or website name. What other names did you consider besides Atlantis? I like the name it has now just curious to know of the brainstorming behind the site. Also I love your website! Thank you! I can't actually remember any of the other names we considered, probably because they were all bad. Atlantis stuck from the beginning!
And you're welcome, thanks for using it.
Last updated: 2013-06-12 05:44 UTC
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BitCoin: Transferring funds from Dwolla to MtGox and Buying at Current Exchange Price

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