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Bomb threats in the USA: blackmailers demand Bitcoin

In the United States of America, a particularly audacious e-mail is making the rounds. Blackmailers threaten to blow up public buildings and demand a ransom in Bitcoin.

Terrorism à la Bitcoin formula:

The Bitcoin formula blackmailers demand 20,000 US dollars in Bitcoin – otherwise they want to blow up buildings. As reported on 13 December on, an e-mail went out to public institutions and private individuals threatened with bombs. According to the reports, the blackmailer’s e-mail said:

„How do you do? My mercenary carried the bomb into the building where your business is run. My mercenary built the bomb under my direction. It can be hidden anywhere because of its small size, it is impossible to destroy the supporting building structure with this explosive, but if it identifies itself as such, there will be many injured.

My recruited person observes the situation around the building. If he notices suspicious activities, panic or police officers, the device will be blown up.

I can call my husband back when you make a Bitcoin trader transaction

The price for your security is $20,000. Send it to me in Bitcoin and I assure you that I will withdraw my mercenary so that the bomb does not detonate. But don’t try to fool me – my warranty only comes into effect after 3 confirmations in the Bitcoin trader blockchain like this:

If there are problems with the transaction, you have to solve it by the end of the day. When the working day is over and people start leaving the building, the bomb will explode.“

„Nothing Personal
As one can further infer from the threats, it is nothing personal, rather the extortion is purely business threats:

„It’s nothing personal, just a business. If I don’t see the Bitcoin and a bomb explodes, other companies will send me more Bitcoin next time, because it’s not a one-time action.

I won’t log in to this email anymore, I monitor my wallet every twenty minutes and when I receive the money, I’ll give my husband the order to leave.

If the bomb explodes and the authorities see this email, we are not a terrorist society and do not take responsibility for explosions in other places.

However, as the local police in Oklahoma point out, such threats have been received in large numbers. However, they are not to be taken seriously, rather they have so far been able to determine „nothing to be taken seriously“. So it says in the tweet of the responsible authority:

We’re working a number of bomb threat calls in OKC. There have been similar threats called into several locations around the country. No credible threat found at this point. We encourage the public to continue to be vigilant and call with anything suspicious.

– Oklahoma City Police (@OKCPD) 13 December 2018

Suspicion of Scam
Similar threats became known at the beginning of November. Here, blackmailers in the Netherlands threatened with hand grenades if those affected did not comply with the ransom demand. So far, however, there have been no known explosions.

Laszlo and the Bitcoin pizzas

On May 18, 2010 another message appeared in the online forum, which was supposed to make similarly high waves:

I pay 10,000 bitcoins for a few pizzas. Maybe two big ones, that I still have something left the next day. I like pizzas to nibble on later. You can make the pizza yourself and bring it home to me or order it from a delivery service. What I want is to get food delivered in exchange for Bitcoins without having to prepare it myself. Like a breakfast plate in a hotel or something – they just bring you something to eat and you’re happy! I like onions, peppers, sausages, mushrooms, tomatoes, salami etc.. But only the standard stuff, nothing funny with fish or anything. I also like very simple cheese pizzas, which may be cheaper to prepare or get. If someone is interested, let me know and we can negotiate a deal. Thank you, Laszlo.

Excerpt from the Bitcoin news at the end

After four days Laszlo announced that he got pizza for his 10.000 Bitcoins. What he didn’t know was Bitcoin news that the 10,000 Bitcoins would already be worth over 2,000 euros in November of the same year, almost 40,000 euros two years later and over 160 million euros in December 2017. However, by introducing Bitcoin news into the goods cycle, he has done important pioneering work. This was the only way the digital coins could get a countervalue.

The party continues
Much has happened at Bitcoin since Satoshi published his white paper and Laszlo pioneered Bitcoin as a barter object. The economic climax of Bitcoin’s history probably came in December last year: the often quoted bubble swelled so much that more speculation than utility was involved – simply too much air had been pumped into Bitcoin. But also the current events around Mt.Gox, Dread Pirate Roberts and the mysterious Wallet 1933p show: With its tender ten years the good Bitcoin must still grow properly.

Bitcoin formula: Unknown

Who wrote this Bitcoin formula has not yet been clarified. Again and again curious people tried to find the person or group of people behind the Bitcoin formula pseudonym Satoshi Nakamoto. Initially, he worked with an open source team. He attached great importance to not divulging any personal data.

In 2009, Satoshi Nakamoto released the first Bitcoin client and communicated with the Bitcoin community until the end of 2010. He then disappeared from the scene without a trace. Analysis methods of the white paper from criminalistics, research on forums or inquiries in his sphere of influence ultimately did not lead to exact results.

Nevertheless we wish: Happy financial crisis and Happy Bitcoin Birthday!

A comparison of the funding models of Monero, Dash & Zcash

Crypto currencies are usually open source. For a truly decentralized currency on the Internet, it is necessary to build trust. Bitcoin demonstrated this with an open source code, which means that anyone with an Internet connection can view and evaluate the computer code. So you don’t have to trust a middleman, but can convince yourself of the processes in the technology.

However, open nature also brings with it a difficulty, namely the monetization of further development. How can a developer spend his mind and energy on something that is directly accessible to everyone and can be copied, and earn money with it?

There are different answers to this question. In her own study, Nadja Eghbal addresses this issue and compared the financing models of Dash, Monero and Zcash. She compared the projects in points 1) application process, 2) financing source, 3) decision process and 4) accountability.

The three different Bitcoin news

In Dash, the approximately 4,800 master nodes determine how ten percent of the Mining Reward is allocated to proposals: Bitcoin News Trader Review 2018 » Full Scam Check Submitting proposals costs 5 dash. The rest of the budget „burns“ the Bitcoin news and thus lowers the inflation rate.

At Monero, all proposals are created and funded by the community. It is a donation model similar to the Kickstarter platform.

For Zcash, the Zcash Foundation Board issues a part of the so-called Founder Rewards for Proposals. A committee of five to six hand-picked people decides on the proposals and monthly detailed reports on the progress have to be submitted.

Analysis of the Bitcoin formula

In the application process, all three Bitcoin formula projects have similarities in that there is a preliminary stage to a proposal that separates the chaff from the serious wheat. Onlinebetrug comes to the conclusion that the Dash and Zcash proposals in particular are well documented. She also concludes that the Dash and Zcash teams are better known and more often funded. The team behind an idea seems as important to her as the idea itself.

The projects differ fundamentally when it comes to financing. Monero does not have a fixed budget and is financed by donations from the community, Dash has a fixed budget that is set out in the protocol itself, and Zcash receives the budget from the Zcash Foundation. Eghbal considers that the fixed budget at Dash could possibly lead to suboptimal ideas finding funding, simply because the money is available. With Monero, on the other hand, the community only invests in ideas it finds valuable. However, the crowdfunding mechanism also makes planning for the future difficult. Although Zcash has a fixed budget, this is distributed by a centralized foundation.

In the decision-making process, Eghbal Dash catches the eye because the master nodes use a fixed stake in Dash and thus have an economic interest in the success of the crypto currency. Nevertheless, it could happen that master nodes conspire and deliberately favour or disadvantage certain projects. With Zcash, on the other hand, the decision-making committee is hand-picked and based on human judgement of character. At Monero, she criticizes the overly open decision-making process, which can quickly turn into a „popularity contest“. Eghbal concludes that all decision-making processes have their weaknesses and that there may not be a perfect solution.

In project accountability, Eghbal Dash Watch highlights Dash Watch as a good example of clear success stories. At Zcash, she praised the frequent and detailed reports the Foundation demands. Monero seems to be a laggard, as accountability is least demanded here.

Analysis of past funding
Eghbal largely excluded Zcash from this analysis as the funding process is still relatively new and not yet sufficiently representative.

The Monero Core team’s funding proposals accounted for ten percent of the proposals, but received a third of the budget. At Dash, the core team’s work accounted for one-fifth of the proposals and was always funded. In contrast, only 80 percent of non-core proposals were able to achieve their funding.
While Monero mainly financed research, core work and conference trips, Dash spends about half of its budget on marketing.

In both Monero and Dash, there were some familiar faces whose proposals were mostly financed. Eghbal sees her presumption of a reputation effect confirmed. The median of the proposals at Mo

The opinion Echo: „Anti-Semites!“ – Roubini trolls the Bitcoin community

After the devastating criticism of Bitcoin & Co. by the Permabär Nouriel at the beginning of this week, the problems of the crypto exchange Bitfinex and the stable coin Tether came into the focus of the commentators. The opinion ECHO for the 42nd calendar week.

Here is the Bitcoin code review

Roubini’s anti-Bitcoin tirade before the US Senate continued on the economist’s Twitter account at the beginning of the week. The economist is using ever heavier guns to fire towards the crypto community like this The quintessence of his Bitcoin code review tweets: The Bitcoin community is a cesspool of blinded, coprophagous shitcoiners whose ultra-liberal tendencies are surpassed only by their anti-Semitic tendencies.

NYU resists Roubini with Bitcoin code scam

Roubini’s downright trumpeting Twitter troll has meanwhile reached a degree of review unprofessionality that even calls alumni of New York University (NYU), where Roubini teaches, to the fore. For example, Max Keiser, crypto-investor and alumnus of NYU, criticizes the Bitcoin code scam plan:

„It pains me to see @nouriel [Roubini] behave like a horse’s ass. I am now in contact with the NYU leadership to ask them if they can’t urge this embarrassing rage-aholic to reason. It damages the working morale of the students.“

Roubini’s tirades could also influence NYU’s support through alumni donations:

„Many NYU members have already made contact with Roubini and are trying to get him to shut up. He is known as a rage-aholic, egomaniac and windbag. The students complain. It becomes also for Alumni fund Raiser like me the topic ?

Of course, Dr. Doom also took the opportunity to comment on the current drama about Bitfinex and the Stable Coin Tether (USDT):

„Tether is the mother of all crypto scams and supports Bitcoin and all the other shitcoins by up to 80 percent. But the regulators, who started investigating Tether/Bitfniex months ago, are still „sleeping at the wheel“.

Experts agree, Tether is a massive fucking scam.

I figured it out based on common sense and the background of the people behind the exchange.

It didn’t help that Bitfinex was founded by a Ponzi scammer. …

This tweet is from the Roubini retweetet Bitfnix’ed series. Indeed, on 16 October, the economist spent his lunchtime sharing the tweets of @Bitfnix’ed, arguably the sharpest critic of the currently controversial Bitfinex crypto exchange.

Ripple Labs and other investments

Total investment: 28 million US dollars. Closing date: May 2015. Total investment: USD 37 million

Investors: US futures, CME Group, Seagate Technology, AME Cloud Ventures, ChinaRock Capital Management, China Growth Capital, Wicklow Capital, Bitcoin Opportunity Corp., Core Innovation Capital, Route 66 Ventures, RRE Ventures, Vast Ventures and Venture 51.

What happened since then: Ripple labs hired the former head of the US Treasury Department as a consultant in July.

Mark Preuss is founder and CEO of BTC-ECHO

After studying economics in the Netherlands and China, he held various positions in finance, first in Switzerland and finally in Düsseldorf. Early on, he became enthusiastic about digital currencies and blockchain technology. In the absence of a contact point in German-speaking countries, Mark finally decided at the end of 2013 to launch BTC-ECHO, his own media platform for digital currencies and blockchain. Since then, he has developed BTC-ECHO into the most widely used German-language platform for crypto currencies.

Total investment: 25 million US dollars. Closing date: May 2015. Total investment: 28.25 million US dollars

Investors: RRE Ventures, Liberty City Ventures, Jay W Jordan II and James Pallotta.

What has happened since: ItBit was recognized as a licensed exchange by the New York State Department of Financial Services. Briefly, the exchange began OTC trading.

Total investment: 20 million US dollars. Closing date: July 2015. Total investment: USD 60 million

Investors: The Georgian Co-Investment Fund, DRW Venture Capital and iTech Capital.

What has happened since

Earlier this month, BitFury announced that it had completed the development of the 6NM ASIC Bitcoin-Mining chip.

Total investment: 15 million US dollars. Closing date: February 2015. Total investment: 29 million US dollars

Investors. Accel Partners, GP Bullhound, Creandum and Martin Wattin: Accel Partners, GP Bullhound, Creandum and Martin Wattin.

What has happened since then: In June, the Swedish company announced its intention to launch a groundbreaking Bitcoin ASIC Mining Chip.


Total investment: 12.5 million US dollars. Closing date: June 2015. Total investment: 21 million US dollars

Investors. Beacon Securities, Clarus Securities and Salmon Partners: Beacon Securities, Clarus Securities and Salmon Partners.

What has happened since then: Geoff Gordon, CEO of Vogogo, wants to use the funds received for partnerships with various bank partners and to work hard on a healthy branding in the Bitcoin industry.