2010 - Bitcoin Wiki

r/Bitcoin recap - July 2019

Hi Bitcoiners!
I’m back with the 31st monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in July 2019
Adoption
Development
Security
Mining
Business
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

A Beginners Guide to Bitcoin, Blockchain & Cryptocurrency

As cryptocurrency, and blockchain technology become more abundant throughout our society, it’s important to understand the inner workings of this technology, especially if you plan to use cryptocurrency as an investment vehicle. If you’re new to the crypto-sphere, learning about Bitcoin makes it much easier to understand other cryptocurrencies as many other altcoins' technologies are borrowed directly from Bitcoin.
Bitcoin is one of those things that you look into only to discover you have more questions than answers, and right as you’re starting to wrap your head around the technology; you discover the fact that Bitcoin has six other variants (forks), the amount of politics at hand, or that there are over a thousand different cryptocurrencies just as complex if not even more complex than Bitcoin.
We are currently in the infancy of blockchain technology and the effects of this technology will be as profound as the internet. This isn’t something that’s just going to fade away into history as you may have been led to believe. I believe this is something that will become an integral part of our society, eventually embedded within our technology. If you’re a crypto-newbie, be glad that you're relatively early to the industry. I hope this post will put you on the fast-track to understanding Bitcoin, blockchain, and how a large percentage of cryptocurrencies work.

Community Terminology

Altcoin: Short for alternative coin. There are over 1,000 different cryptocurrencies. You’re probably most familiar with Bitcoin. Anything that isn’t Bitcoin is generally referred to as an altcoin.
HODL: Misspelling of hold. Dank meme accidentally started by this dude. Hodlers are much more interested in long term gains rather than playing the risky game of trying to time the market.
TO THE MOON: When a cryptocurrency’s price rapidly increases. A major price spike of over 1,000% can look like it’s blasting off to the moon. Just be sure you’re wearing your seatbelt when it comes crashing down.
FUD: Fear. Uncertainty. Doubt.
FOMO: Fear of missing out.
Bull Run: Financial term used to describe a rising market.
Bear Run: Financial term used to describe a falling market.

What Is Bitcoin?

Bitcoin (BTC) is a decentralized digital currency that uses cryptography to secure and ensure validity of transactions within the network. Hence the term crypto-currency. Decentralization is a key aspect of Bitcoin. There is no CEO of Bitcoin or central authoritative government in control of the currency. The currency is ran and operated by the people, for the people. One of the main development teams behind Bitcoin is blockstream.
Bitcoin is a product of blockchain technology. Blockchain is what allows for the security and decentralization of Bitcoin. To understand Bitcoin and other cryptocurrencies, you must understand to some degree, blockchain. This can get extremely technical the further down the rabbit hole you go, and because this is technically a beginners guide, I’m going to try and simplify to the best of my ability and provide resources for further technical reading.

A Brief History

Bitcoin was created by Satoshi Nakamoto. The identity of Nakamoto is unknown. The idea of Bitcoin was first introduced in 2008 when Nakamoto released the Bitcoin white paper - Bitcoin: A Peer-to-Peer Electronic Cash System. Later, in January 2009, Nakamoto announced the Bitcoin software and the Bitcoin network officially began.
I should also mention that the smallest unit of a Bitcoin is called a Satoshi. 1 BTC = 100,000,000 Satoshis. When purchasing Bitcoin, you don’t actually need to purchase an entire coin. Bitcoin is divisible, so you can purchase any amount greater than 1 Satoshi (0.00000001 BTC).

What Is Blockchain?

Blockchain is a distributed ledger, a distributed collection of accounts. What is being accounted for depends on the use-case of the blockchain itself. In the case of Bitcoin, what is being accounted for is financial transactions.
The first block in a blockchain is referred to as the genesis block. A block is an aggregate of data. Blocks are also discovered through a process known as mining (more on this later). Each block is cryptographically signed by the previous block in the chain and visualizing this would look something akin to a chain of blocks, hence the term, blockchain.
For more information regarding blockchain I’ve provided more resouces below:

What is Bitcoin Mining

Bitcoin mining is one solution to the double spend problem. Bitcoin mining is how transactions are placed into blocks and added onto the blockchain. This is done to ensure proof of work, where computational power is staked in order to solve what is essentially a puzzle. If you solve the puzzle correctly, you are rewarded Bitcoin in the form of transaction fees, and the predetermined block reward. The Bitcoin given during a block reward is also the only way new Bitcoin can be introduced into the economy. With a halving event occurring roughly every 4 years, it is estimated that the last Bitcoin block will be mined in the year 2,140. (See What is Block Reward below for more info).
Mining is one of those aspects of Bitcoin that can get extremely technical and more complicated the further down the rabbit hole you go. An entire website could be created (and many have) dedicated solely to information regarding Bitcoin mining. The small paragraph above is meant to briefly expose you to the function of mining and the role it plays within the ecosystem. It doesn’t even scratch the surface regarding the topic.

How do you Purchase Bitcoin?

The most popular way to purchase Bitcoin through is through an online exchange where you trade fiat (your national currency) for Bitcoin.
Popular exchanges include:
  • Coinbase
  • Kraken
  • Cex
  • Gemini
There’s tons of different exchanges. Just make sure you find one that supports your national currency.

Volatility

Bitcoin and cryptocurrencies are EXTREMELY volatile. Swings of 30% or more within a few days is not unheard of. Understand that there is always inherent risks with any investment. Cryptocurrencies especially. Only invest what you’re willing to lose.

Transaction & Network Fees

Transacting on the Bitcoin network is not free. Every purchase or transfer of Bitcoin will cost X amount of BTC depending on how congested the network is. These fees are given to miners as apart of the block reward.
Late 2017 when Bitcoin got up to $20,000USD, the average network fee was ~$50. Currently, at the time of writing this, the average network fee is $1.46. This data is available in real-time on BitInfoCharts.

Security

In this new era of money, there is no central bank or government you can go to in need of assistance. This means the responsibility of your money falls 100% into your hands. That being said, the security regarding your cryptocurrency should be impeccable. The anonymity provided by cryptocurrencies alone makes you a valuable target to hackers and scammers. Below I’ve detailed out best practices regarding securing your cryptocurrency.

Two-Factor Authentication (2FA)

Two-factor authentication is a second way of authenticating your identity upon signing in to an account. Most cryptocurrency related software/websites will offer or require some form of 2FA. Upon creation of any crypto-related account find the Security section and enable 2FA.

SMS Authentication

The most basic form of 2FA which you are probably most familiar with. This form of authentication sends a text message to your smartphone with a special code that will allow access to your account upon entry. Note that this is not the safest form of 2FA as you may still be vulnerable to what is known as a SIM swap attack. SIM swapping is a social engineering method in which an attacker will call up your phone carrier, impersonating you, in attempt to re-activate your SIM card on his/her device. Once the attacker has access to your SIM card he/she now has access to your text messages which can then be used to access your online accounts. You can prevent this by using an authenticator such as Google Authenticator.

Authenticator

The use of an authenticator is the safest form of 2FA. An authenticator is installed on a seperate device and enabling it requires you input an ever changing six digit code in order to access your account. I recommend using Google Authenticator.
If a website has the option to enable an authenticator, it will give you a QR code and secret key. Use Google Authenticator to scan the QR code. The secret key consists of a random string of numbers and letters. Write this down on a seperate sheet of paper and do not store it on a digital device.
Once Google Authenticator has been enabled, every time you sign into your account, you will have to input a six-digit code that looks similar to this. If you happen to lose or damage the device you have Google Authenticator installed on, you will be locked out of your account UNLESS you have access to the secret key (which you should have written down).

Hardware Wallets

A wallet is what you store Bitcoin and cryptocurrency on. I’ll provide resources on the different type of wallets later but I want to emphasize the use of a hardware wallet (aka cold storage).
Hardware wallets are the safest way of storing cryptocurrency because it allows for your crypto to be kept offline in a physical device. After purchasing crypto via an exchange, I recommend transferring it to cold storage. The most popular hardware wallets include the Ledger Nano S, and Trezor.
Hardware wallets come with a special key so that if it gets lost or damaged, you can recover your crypto. I recommend keeping your recovery key as well as any other sensitive information in a safety deposit box.
I know this all may seem a bit manic, but it is important you take the necessary security precautions in order to ensure the safety & longevity of your cryptocurrency.

Technical Aspects of Bitcoin

TL;DR
  • Address: What you send Bitcoin to.
  • Wallet: Where you store your Bitcoin
  • Max Supply: 21 million
  • Block Time: ~10 minutes
  • Block Size: 1-2 MB
  • Block Reward: BTC reward received from mining.

What is a Bitcoin Address?

A Bitcoin address is what you send Bitcoin to. If you want to receive Bitcoin you’d give someone your Bitcoin address. Think of a Bitcoin address as an email address for money.

What is a Bitcoin Wallet?

As the title implies, a Bitcoin wallet is anything that can store Bitcoin. There are many different types of wallets including paper wallets, software wallets and hardware wallets. It is generally advised NOT to keep cryptocurrency on an exchange, as exchanges are prone to hacks (see Mt. Gox hack).
My preferred method of storing cryptocurrency is using a hardware wallet such as the Ledger Nano S or Trezor. These allow you to keep your crypto offline in physical form and as a result, much more safe from hacks. Paper wallets also allow for this but have less functionality in my opinion.
After I make crypto purchases, I transfer it to my Ledger Nano S and keep that in a safe at home. Hardware wallets also come with a special key so that if it gets lost or damaged, you can recover your crypto. I recommend keeping your recovery key in a safety deposit box.

What is Bitcoins Max Supply?

The max supply of Bitcoin is 21 million. The only way new Bitcoins can be introduced into the economy are through block rewards which are given after successfully mining a block (more on this later).

What is Bitcoins Block Time?

The average time in which blocks are created is called block time. For Bitcoin, the block time is ~10 minutes, meaning, 10 minutes is the minimum amount of time it will take for a Bitcoin transaction to be processed. Note that transactions on the Bitcoin network can take much longer depending on how congested the network is. Having to wait a few hours or even a few days in some instances for a transaction to clear is not unheard of.
Other cryptocurrencies will have different block times. For example, Ethereum has a block time of ~15 seconds.
For more information on how block time works, Prabath Siriwardena has a good block post on this subject which can be found here.

What is Bitcoins Block Size?

There is a limit to how large blocks can be. In the early days of Bitcoin, the block size was 36MB, but in 2010 this was reduced to 1 MB in order to prevent distributed denial of service attacks (DDoS), spam, and other malicious use on the blockchain. Nowadays, blocks are routinely in excess of 1MB, with the largest to date being somewhere around 2.1 MB.
There is much debate amongst the community on whether or not to increase Bitcoin’s block size limit to account for ever-increasing network demand. A larger block size would allow for more transactions to be processed. The con argument to this is that decentralization would be at risk as mining would become more centralized. As a result of this debate, on August 1, 2017, Bitcoin underwent a hard-fork and Bitcoin Cash was created which has a block size limit of 8 MB. Note that these are two completely different blockchains and sending Bitcoin to a Bitcoin Cash wallet (or vice versa) will result in a failed transaction.
Update: As of May 15th, 2018 Bitcoin Cash underwent another hard fork and the block size has increased to 32 MB.
On the topic of Bitcoin vs Bitcoin Cash and which cryptocurrency is better, I’ll let you do your own research and make that decision for yourself. It is good to know that this is a debated topic within the community and example of the politics that manifest within the space. Now if you see community members arguing about this topic, you’ll at least have a bit of background to the issue.

What is Block Reward?

Block reward is the BTC you receive after discovering a block. Blocks are discovered through a process called mining. The only way new BTC can be added to the economy is through block rewards and the block reward is halved every 210,000 blocks (approximately every 4 years). Halving events are done to limit the supply of Bitcoin. At the inception of Bitcoin, the block reward was 50BTC. At the time of writing this, the block reward is 12.5BTC. Halving events will continue to occur until the amount of new Bitcoin introduced into the economy becomes less than 1 Satoshi. This is expected to happen around the year 2,140. All 21 million Bitcoins will have been mined. Once all Bitcoins have been mined, the block reward will only consist of transaction fees.

Technical Aspects Continued

Understanding Nodes

Straight from the Bitcoin.it wiki
Any computer that connects to the Bitcoin network is called a node. Nodes that fully verify all of the rules of Bitcoin are called full nodes.
In other words, full nodes are what verify the Bitcoin blockchain and they play a crucial role in maintaining the decentralized network. Full nodes store the entirety of the blockchain and validate transactions. Anyone can participate in the Bitcoin network and run a full node. Bitcoin.org has information on how to set up a full node. Running a full node also gives you wallet capabilities and the ability to query the blockchain.
For more information on Bitcoin nodes, see Andreas Antonopoulos’s Q&A on the role of nodes.

What is a Fork?

A fork is a divergence in a blockchain. Since Bitcoin is a peer-to-peer network, there’s an overall set of rules (protocol) in which participants within the network must abide by. These rules are put in place to form network consensus. Forks occur when implementations must be made to the blockchain or if there is disagreement amongst the network on how consensus should be achieved.

Soft Fork vs Hard Fork

The difference between soft and hard forks lies in compatibility. Soft forks are backwards compatible, hard forks are not. Think of soft forks as software upgrades to the blockchain, whereas hard forks are a software upgrade that warrant a completely new blockchain.
During a soft fork, miners and nodes upgrade their software to support new consensus rules. Nodes that do not upgrade will still accept the new blockchain.
Examples of Bitcoin soft forks include:
A hard fork can be thought of as the creation of a new blockchain that X percentage of the community decides to migrate too. During a hard fork, miners and nodes upgrade their software to support new consensus rules, Nodes that do not upgrade are invalid and cannot accept the new blockchain.
Examples of Bitcoin hard forks include:
  • Bitcoin Cash
  • Bitcoin Gold
Note that these are completely different blockchains and independent from the Bitcoin blockchain. If you try to send Bitcoin to one of these blockchains, the transaction will fail.

A Case For Bitcoin in a World of Centralization

Our current financial system is centralized, which means the ledger(s) that operate within this centralized system are subjugated to control, manipulation, fraud, and many other negative aspects that come with this system. There are also pros that come with a centralized system, such as the ability to swiftly make decisions. However, at some point, the cons outweigh the pros, and change is needed. What makes Bitcoin so special as opposed to our current financial system is that Bitcoin allows for the decentralized transfer of money. Not one person owns the Bitcoin network, everybody does. Not one person controls Bitcoin, everybody does. A decentralized system in theory removes much of the baggage that comes with a centralized system. Not to say the Bitcoin network doesn’t have its problems (wink wink it does), and there’s much debate amongst the community as to how to go about solving these issues. But even tiny steps are significant steps in the world of blockchain, and I believe Bitcoin will ultimately help to democratize our financial system, whether or not you believe it is here to stay for good.

Final Conclusions

Well that was a lot of words… Anyways I hope this guide was beneficial, especially to you crypto newbies out there. You may have come into this realm not expecting there to be an abundance of information to learn about. I know I didn’t. Bitcoin is only the tip of the iceberg, but now that you have a fundamental understanding of Bitcoin, learning about other cryptocurrencies such as Litecoin, and Ethereum will come more naturally.
Feel free to ask questions below! I’m sure either the community or myself would be happy to answer your questions.
Thanks for reading!

Related Links

Guides

Exchanges

submitted by MrCryptoDude to Bitcoin [link] [comments]

The 3 Kinds of Cryptocurrency Traders that are Kicking Your Ass

The 3 Types of Cryptocurrency Traders that are Kicking Your Ass

For an investor to outperform the market, someone else must underperform.That is a simple arithmetic fact.
In a fair and regulated environment, investors have equal access to information. Winners and losers are determined by whoever can make a better prediction.
But cryptocurrency is the wild, wild west. Market participants don’t play fair and they can profit at the expense of others.
Here are the three types of traders that are kicking your ass
Insider Traders
Under Rule 10b5–1, the SEC defines insider trading as “any securities transaction made when the person behind the trade is aware of nonpublic material information.” Insider trading is illegal in almost all traditional markets. In a research paper published in 2010, Qin Lei found empirical evidence that insiders were able to consistently beat the stock market.
Over the last year, we’ve seen many high-profile cases of insider trading in the cryptocurrency market.
Coinbase** — The Bitcoin Cash Incident**
On December 19, 2017, Coinbase tweeted it would add Bitcoin Cash to its exchange. But before the announcement was made public, both the trading volume and the price of Bitcoin Cash suspiciously surged.
On March 1, Coinbase was hit with a class action lawsuit. The full court document is available here.
South Korea Financial Supervisory Service (FSS)
Even regulators are being investigated for insider trading. Korean FSS officials knew ahead of time that new cryptocurrency trading restrictions would be put in place. Yet, they still made trades before the announcement.
The chief of the FSS, Choi Hyung-sik, confirmed on Jan. 18 that trading violations had occurred. Despite being caught red-handed, another FSS official responded that there was technically “no code of ethics or conduct for virtual currencies and therefore difficult to issue any punishment.”
The examples mentioned above are just a few high-profile cases. Insider trading runs rampant in the cryptocurrency space. Very often, prices and trading volumes will pump right before an exchange announces a new coin.
To many, insider trading is no longer a surprise but rather something that “just happens” in an unregulated market.
Whales
A whale is simply a colloquial way to describe an investor who is able to manipulate markets by mobilizing large amounts of capital.
Most crypto investors treat whales like the boogeyman. They’ve never had a personal encounter, but swear that whales are responsible for large market swings everywhere.
In some cases there is strong evidence indicating that they are right. Recently, academic research has come out showing that large-scale price manipulation does happen. Here’s an example from 2013, where a single entity was largely responsible for pushing the price of Bitcoin from $150 to $1,000 in two months. Another paper that came out last week shows how large amounts of USDT was used to manipulate Bitcoin prices.
Here are a few techniques whales use to manipulate price.
Stop-loss hunting
Whales intentionally push the price down in order to trigger stop-loss orders.Then they turn around and buy coins from these stop-loss orders for cheap and wait for the market to recover.
This strategy works well for coins with low trading volumes and small order books. With enough coins, whales can push down the price by introducing a slew of market-price sell orders.
To show how this works, let’s imagine a scenario:
The goal is to drive the price down past $100, which may be a psychological breaking point for some people and therefore a likely place for stop-losses.
One can do this by:
  1. Placing a market sell order totaling 10 BTC, to drive the price down from $150 to $110
  2. Keeping the sell pressure on, as investors naturally start selling their holdings.
  3. Watching people’s stop-losses go off at $100 without their knowledge. This drives the price down further.
  4. Buying up all the stop-loss orders at $90 and under.
  5. Waiting for the market to recover before selling the coins.
Short/Long Hunting
This is another form of market manipulation, but one that only exchanges can pull off.
Let’s see how this works on Bitmex for BTC.
The price just has move slightly in the wrong direction to trigger a liquidation. When liquidations happen, the investor loses their entire margin and pays a big fat fee.
Because exchanges know exactly what prices will trigger these liquidations, they have both the capability and financial incentive to engineer price movements using bots.
To be clear, there is no evidence implicating Bitmex. But it is suspicious that low volume trading periods are followed by a furious uptick in volume. When this happens, liquidation tears through leveraged positions, leaving traders with nothing other than a fistful of trading fees.
BitmexRekt tweets these liquidations in real time. You can follow them here.
Spoofing
Another common strategy whales use to manipulate the market is called spoofing. It means to bid or offer with intent to cancel before the orders are filled.The goal of spoofing is to send false signals to investors.
Here’s an example of using this strategy to profit:
This also works in the opposite direction. By placing large sell orders, spoofers can send bearish signals and lure investors into selling their cryptocurrencies at a discount.
Bitfinex’d investigates an entity known as “Spoofy” operating on the Bitfinex exchange.
Wash Trading
The last strategy we’ll cover is wash trading. In a wash trade, an investor takes both buy and sell positions. This may be done in order to:
Usually wash trading is extremely hard to prove, as washed trades look very similar to real trades.
On July 27, however, Bitfinex unknowingly baited wash traders during the Bitcoin (BTC) fork to Bitcoin Cash (BCH). At the time of the fork, all BTC holders were to receive BCH commensurate with the amount of BTC they held.
To accommodate for BTC held in margin positions at the time, Bitfinex had to finesse the numbers. To quote the announcement:
BCH will be distributed to settled bitcoin wallet balances as of the UTC timestamp of the first forking block, which is expected to occur on August 1st, 2017.
The token distribution methodology will be:
  • All BTC wallet balances will receive BCH
  • Margin longs in BTC/USD and margin shorts in XXX/BTC will not receive BCH
  • Margin shorts in BTC/USD and margin longs in XXX/BTC will not pay BCH
  • BTC Lenders will receive BCH
Due to the net amount of BTC committed in margin positions at the time of the fork, the above methodology may result in Bitfinex seeing a surplus or deficit of BCH. As such, we will be resolving this discrepancy in the form of a socialized distribution coefficient. For example, currently, there are more longs than shorts on the platform, causing a distribution coefficient of ~1.091 (Meaning that for each qualifying BTC a user will receive 1.091 BCH). The actual coefficient will be calculated at the moment of the distribution.
These rules turned out to be game-able. Because Bitfinex did not charge BCH to open short positions leading up to the split, one could simply purchase 10 BTC and short 10 BTC. This way, you could collect free BCH without any exposure to BTC price volatility. If BTC drops, the shorts cancel out any loss. If BTC soars, the profits cancel out the short positions.
On July 27, there were more longs than shorts on the platform and the distribution coefficient was 1.091.
However, on August 1, the distribution coefficient moved to 0.7757.
Leading up to the fork, an enormous amount of short positions were created. And instead of prices going down, which is what usually happens when shorts increase so dramatically, prices actually went up.
To make matters even more dubious, shorts dropped by 24,000 on a single tick right after the fork.
The manipulation here was so obvious that even Bitfinex had to acknowledge it. They issued an official statement about the wash trading here.
Pump & Dump Group Executives
So we’ve talked about insider traders and whales.
The final type of traders we’re going to talk about are the pump & dump group executives.
Pump & dump (P&D) is a form of market manipulation that involves purchasing a cheap asset, artificially inflating its price, and then dumping the asset a higher price.
The cryptocurrency market is rife with such groups. Here are just a few:
Here’s howPump & Dumps work
  1. P&D executives find a coin that is easy to manipulate and easy to sell. I.e. A coin with a strong community, advertising potential, small order book, and low trading volume.
  2. Executives secretly accumulate the coin over time while trying not to affect the price.
  3. These executives spread their pump signals to their inner circle members who pay upwards of $300 for the privilege of hearing early signals.
  4. The first wave of pumpers start shilling on signal groups. They tell gullible investors that a pump is about to happen because of “new website updates”, or “new partnership announcements”, generally whatever angle they can spin.
  5. As the price rises, the P&D executives start dumping their coins.
  6. Once the executives are spent, they spread the signal to their paid members to begin dumping the coin.
  7. The price starts falling and like a game of soggy cookie, the slowest players lose.
Cryptomedication wrote a great piece exposing BravadoGroup and several large influencers in the crypto space planning large scale P&Ds.
The reason I single out P&D executives is because they are the only ones that consistently profit. They have the most control and the highest amount of influence.So much so that members are willing to pay $300 for the privilege of being used as pawns. The buyers in signal groups are even worse off. They are falsely led into buying into a promising, undervalued coin, without any knowledge that it will soon be dumped.

So you’re telling me the game is rigged and I’m boned, what should I do?

The simple answer is to stop actively trading.The more you try to time the market, the more you open yourself up to opportunities of getting screwed over.
Speculative trading is a zero-sum game. In order for investors to outperform the market, they require others to underperform the market. In an unfair market, the average investor will more likely lose to people who have an unfair advantage and are gaming the market.
This is why I genuinely believe the average investor should just index the entire market. If you’re in it for the technology and the long-term growth, why bother speculating at all? Just hold a small piece of the entire cryptocurrency market. Indices has been proven to beat 95% professional traders in equity markets over a 15 year-period.
This is why I built HodlBot. It’s an easy way to diversify across the top 20 cryptocurrencies by market cap. It indexes 87% of the entire cryptocurrency market. Every week, your portfolio automatically rebalance so you’re always tracking the top 20 coins. It helps you get some quiet sleep while active traders lie awake, staring at their phones. You can read more about it here.
The best thing about a total market index is that it can guarantee market performance. Active trading, on the other hand, cannot.
I don’t mean to spread FUD by pointing out all the different ways traders are ripping investors off. I just want investors to know what exactly free and unregulated markets really mean. We’re not protected by the SEC or any other sanctioning bodies. While this comes with unbridled freedom and breathing room for rapid innovation, it also means all foul play is fair play.
It’s a brave new world out there filled with all kinds of splendor and danger. If you’re going to take your chances, please make sure you’re prepared.
submitted by haggenballs to BitcoinMarkets [link] [comments]

WolfpackBOT - The world's fastest and most secure trading bot

WolfpackBOT - The world's fastest and most secure trading bot

https://preview.redd.it/b2ffej55zfd21.png?width=768&format=png&auto=webp&s=196c912c5d4250be54d647648613545f74faec7d

INTRODUCTION

According to wikipedia, Blockchain is originally known as bloc chain, It is a growing list of records known as blocks which is linked using cryptography, each of these blocks contain a cryptographic hash of the initial block, a transaction data and a time stamp.
Since its emergence in the year 2008, when Nakamoto satoshi discovered and introduced bitcoin, there has been serious efforts to integrate the blockchain technology into several aspects of various process of global business , The blockchain technology has been described as having the potential to disrupt many industries with immutability, low-cost transaction, and enhanced maximum security. So many other blockchain implementations have been deployed and developed with unique features designed to specific use-cases.
The blockchain technology has made possible to issue assets through a distributed ledger framework. With cryptocurrency tokens, Assets can be given economic value in order to validate and initiate transactional processes.

ADVANTAGES OF BLOCKCHAIN:

  1. Decentralised payment processing,
  2. Creating an immutable system of recording,
  3. Reducing Cost of Transaction and
  4. Enhanced Security.
  5. Now that we have reminded ourselves of what blockchain technology is, let’s look into the subject matter.

ABOUT WolfpackBOT

WolfpackBOT is a highly advanced cryptocurrency trading software that allows for the execution of trades at lightning speed using proprietary trading algorithms, proprietary “Werewolf” Trading Analysis configurations, or user customized settings based on personal trading style. WolfpackBOT also allows for simultaneous trading access to all compatible cryptocurrency exchanges that are available to the bot, and all trading pairs with the WerewolfBOT subscription package.
WolfpackBOT is introducing an industry first, a beautiful automated cryptocurrency trading console: The WolfBOX. This efficient and sleek piece of hardware will conveniently allow for the full utilization of a bot subscription without the need for a VPS or dedicated computer. The WolfBOX will also include a built-in secure Hardware Wallet and RFID card reader to optimize ease-of-use and functionality.
WolfpackBOT trading software is enabled with limit, market, and “Wolf Trade” orders on all trading candles, including one-minute candles, with the widest array of technical trading indicators available on the market. WolfpackBOT's proprietary “Wolf Trade” orders provide superior market sell orders with a bite! WolfpackBOT is the only trading bot to feature live price scanning on your positions and also handles partial fills with ease, meaning you don’t miss out on orders. WolfpackBOT is incredibly fast and can fulfill up to 10,000 trades per day depending on market conditions and subscription package.
WolfpackBOT allows simultaneous trading access to all cryptocurrency exchanges that are available to the bot, and all trading pairs through the WerewolfBOT subscription plan. Not only do inferior bots allow limited access to one exchange and one trading pair per bot, they also store your API keys remotely on servers which are potentially susceptible to hacks and pump and dump attacks. User security and API key protection holds a high priority within the WolfpackBOT framework which is why it is the only trading bot that gives users full control with local management of their API keys.
Masternode and Proof of Work X11 Blockchain
Wolfcoin Blockchain with X11 Proof of Work Mining and Masternode Reward Systems The Wolfcoin blockchain and network are both designed and engineered to ensure store of value, transactional speed and security, and fungibility. The main goal of the Wolfcoin blockchain is to facilitate fast and secure transactions with a governance that helps sustain the network for the benefit of all users. The Wolfcoin blockchain is a two-tier network comprised of a Proof of Work (PoW) consensus mechanism powered by miners and a Proof of Service (PoSe) system powered by masternodes.
The Wolfcoin blockchain is secured through Proof of Work (PoW) in which miners attempt to solve difficult problems with specialized computers. When a problem is solved, the miner receives the right to add a new block to the blockchain. If the problem was solved correctly, the miner is rewarded once the block is added.
The second tier, which is powered by masternodes, enables Wolfcoin to facilitate private and instant transactions with Private Send and Instant Send. Masternodes are also rewarded when miners discover new blocks.
The block reward is distributed with 80% going to the masternodes and 20% going to miners. The masternode system is referred to as Proof of Service (PoSe), since the masternodes provide crucial services that support the features of the network.
Masternodes also oversee the network and have the power to reject improperly formed blocks from miners. If a miner tried to take the entire block reward for themselves, the masternode network would orphan the block ensuring that it would not be added to the blockchain.
In short, miners power the first tier, which is the basic sending and receiving of funds and prevention of double spending. Masternodes power the second tier, which provide the added features that make Wolfcoin different from other cryptocurrencies. Masternodes do not mine, and mining computers cannot serve as masternodes.
Additionally, each masternode is “secured” by 10,000 WOLF. Those WOLF remain under the sole control of their owner at all times. The funds are not locked in any way; however, if enough of the funds are moved or spent to cause the user’s holdings to drop below 10,000 Wolfcoin, the associated masternode will go offline and stop receiving rewards.
By pre-ordering your WolfpackBOT subscription, you will also receive Wolfcoin as a reward that can be utilized in the following ways:
  • Redeemable for WolfpackBOT subscriptions
  • Redeemable for the WolfBOX Console
  • Redeemable for WolfpackBOT and Wolfcoin apparel and merchandise
  • Fungible utility that can be exchanged for like value on exchanges
When you hold at least 10,000 Wolfcoin in your Wolfcoin wallet connected to a static IP address, you will become a masternode, meaning you will have a chance to receive 80 percent of the block reward every sixty seconds.

THE FEATURES

WolfpackBOT Automated Trading Software:

After the crowdsale, Wolfcoin will be the exclusive method of payment for WolfpackBOT Automated Trading Software subscriptions.

Multiple Technical Analysis Indicators:

WolfpackBOT offers the widest array of multiple Technical Analysis indicators, oscillators, configurations and settings available in the world of Automated Cryptocurrency Trading Bots. WolfpackBOT provides Bollinger Bands, Double EMA, Elliot Wave, EMA, EMA Cross, Fibonacci Sequence, KAMA, MA Cross, MACD, RSI, SMA, Stochastic, Stochastic RSI, Triple EMA, and many more!

Shorting Features:

WolfpackBOT includes Cryptocurrency Shorting Features that allow users to short their positions and buy them back at the lower price to maximize their returns.

Copyrighted Crash Protection:

Crash Protection, one of WolfpackBOT's most advanced features, enables users the option to automatically scan and convert all positions to a stable coin at the sign of our proprietary Hidden Bear Divergence Indicator, and then buy back into base currency to resume trading at the sign of our proprietary Hidden Bull Divergence Indicator.

Language Translator:

WolfpackBOT has a built in Language Translator that instantly translates the entire BOT into Dutch, English, French, German, or Spanish.

All Trading Pairs on all available Exchanges:

WolfpackBOT allows our customers to simultaneously trade on multiple cryptocurrency exchanges, and with all the exchange’s trading pairs available for trading. The best part is that it’s all possible on one bot with one subscription to the WerewolfBOT package!

Coin Selector:

While other automated trading platforms only allow for a limited amount of coins per subscription, WolfpackBOT allows all trading pairs and all coins to be traded on all the available major exchanges with the WerewolfBOT subscription. WolfpackBOT's proprietary Coin Selector allows for users to choose whether to trade all cryptocurrencies or blacklist some, thus not trading them at all, as well as search for the highest volume, greatest performing, or a specific volatility range of coins for a given timeframe.

Werewolf Configurations and Settings:

Werewolf Configurations and Settings are copyrighted trading algorithms that use proprietary optimum settings for trading: the perfect configuration for experienced and inexperienced traders alike. These settings can be adjusted to the current market trend, with preset configurations for bear, sideways, and bull markets.

Werewolf Ultimate:

Werewolf Ultimate is the ultimate choice when trading. It doesn't trade a particular trading pair or particular coins, it trades them all. It goes in for the kill to increase the potential returns. Crash Protection is a built-in feature in Werewolf Ultimate.

Werewolf Bull Market:

Werewolf Bull Market are preset settings and configurations that are usable when your Base Trading Pair is in a Bull Run. Werewolf Bull Market settings are optimized for such conditions and should only be used in a Bull Run Market.

Werewolf Sideways Market:

Werewolf Sideways Market are preset settings and configurations that are usable when your Base Trading Pair is trading sideways. Werewolf Sideways Market settings are optimized for such conditions and should only be used in a Sideways Trading Market.

Werewolf Bear Market:

Werewolf Bear Market are preset settings and configurations that are usable when your Base Trading Pair is in a Bear Run. Werewolf Bear Market settings are optimized for such conditions and should only be used in a Bear Run Market.

The WolfBOX Hardware Console:

WolfpackBOT also offers an industry first: a beautiful hardware console, The WolfBOX. Our console comes preloaded with WolfpackBOT Automated Trading Software and also includes a built-in secure hardware wallet. Some of the key features of the WolfBOX include our high-speed CPU, solid-state hard drive, built-in RFID card reader, and integrated Bitpay and Coinbase wallets.

Wolfpack Consulting

Our company offers its services and expertise as Cryptocurrency and Blockchain Specialists to individuals and companies. We offer consulting services in the fields of blockchain and cryptocurrency development and management.

Wolfpack Philanthropy

We are dedicated to the proposition that we have a responsibility to use a portion of our company’s revenue to help create a better world and a brighter future. As we move forward, our philanthropic efforts include environmental stewardship, renewable energy, human rights, economic development, as well as animal and wildlife rescue and conservation with an emphasis on dogs and wolves.

Wolfcoin Information

THE WOLFCOIN Wolfcoin is the coin that fuels all WolfpackBOT's projects.
This utility, coupled with the reward systems with mining and Masternoding capabilities, makes the use of Wolfcoin potentially appealing to all WolfpackBOT users whom are interested in receiving additional Wolfcoin for subscriptions, merchandise and other rewards such as passive cryptocurrency portfolio growth.
THE WOLFCOIN WALLET WolfpackBOT uses our proprietary Wolfcoin Core QT wallet.
February 2018 Conceptual development of WolfpackBOT Software
May 2018 Company Roadmap development Alpha models of WolfpackBOT Software
June 2018 Ongoing research, development, and testing
October 2018 Advertising and Marketing Campaign Starts Wallets available for payment; BTC, BTG, DASH, DOGE, ETC, ETH, LTC October 15 - Pre-registration begins
November 2018 November 1 - Crowdsale Stage I begins
December 2018 Official presentation of WolfpackBOT beta Software Preview Creation of Wolfcoin (WOLF: 300,000,000 coins pre-mined on Genesis Block) WolfpackBOT beta Software release to selected customers
December 21 - Launch network and mine Genesis block
December 22 - PoW / Mainnet
December 23 - Blockchain and network testing
December 28 - Iquidis Wolfcoin Block Explorer released on our website
January 2019 January 1 - Wolfcoin Core wallets available for download on the website January 1 - Wallet and Masternode Tutorial available January 1 - Masternode and PoW instructional videos available January 1 - Subscription Pre-order Coin Rewards disbursed Announcement listing WOLF on top-10 Exchange
February 2019 February 1 - Crowdsale Stage I Ends February 1 - Crowdsale Stage II Begins
March 2019 March 15 - Crowdsale Stage II Ends March 15 - Crowdsale Stage III Begins WolfpackBOT Software roll-out to contributors WolfBOX Console available for Pre-order
April 2019 WolfpackBOT Subscriptions available for customers First Major version released: automated, manual, and paper trading WolfpackBOT Live support center April 30 - Crowdsale Stage III Ends
May 2019 WolfBOX Consoles Pre-orders first shipment
June 2019 New trading features such as new exchanges, strategy options and indicators
July 2019 New trading features such as new exchanges, strategy options or indicators
August 2019 WolfpackBOT Software Trading Platform V2.0 Second major release: Strategy Marketplace and Back-testing
September 2019 New trading features such as new exchanges, strategy options or indicators
October 2019 WolfpackBOT Software Trading Platform V3.0 Third major release: Signals Marketplace (Supporting 3rd Party App Signals) Mobile Application for WolfpackBOT Software and Trading Platform
November 2019 New trading features such as new exchanges, strategy options or indicator
December 2019 WolfpackBOT Software Trading Platform V4.0
January 2020 WolfpackBOT Software Trading Platform V5.0 Fourth major release: Machine Learning Strategy Optimization

THE AMAZING TEAM

Philip Longhurst Chief Executive Officer The leader of our pack and the man behind the WolfpackBOT trading bot, Philip Longhurst is a mathematical genius, engineer, day trader, and animal rescuer. As an account manager for J.P. Morgan and MBNA Bank, Phil managed the accounts of several high-profile clients and businesses. He has been successfully trading stocks for over twenty-five years and has successfully applied his trading expertise and mathematical acumen to the cryptocurrency market since 2013.
Philip holds bachelor's degrees in mechanical engineering and business administration and is a loving husband, father, and family man who has been rescuing dogs since 1995. His driving desire is to use the success of Wolfpack Group to create a brighter future for humanity. He currently resides in the United States of America with his wife, daughter, and dogs.
Rogier Pointl Chief Financial Officer Rogier Pointl is a successful entrepreneur with nearly twenty-five years of experience in business management, marketing, financial administration, economics, and fintech. Rogier holds bachelor's degrees in Business Communications and Financial Administration. He is a pioneer in the field of virtual reality, having served as CEO and owner of Simworld, the first virtual reality racing center in Europe, where he oversaw the development of advanced simulator and virtual reality hardware and software.
Rogier is an experienced trader and has been trading stocks since 2007. He began applying his expertise to the cryptocurrency market in 2010, gaining experience as a Bitcoin miner along the way. Rogier is a loving husband and father and currently resides in the Netherlands with his wife and two daughters.
Jason Cormier Chief Technical Officer Jason Cormier is a humble -but extraordinary- individual who is blessed with a Mensa IQ of 151, he is continually driven by a desire for knowledge and self-growth. He is self-taught in Visual Basics, C#, C++, HTML, and CSS and began developing programs and applications at the age of 14, including the TCB Wallet, which was the first ever wallet program that held its users' log in names and passwords. Jason is a cryptocurrency guru whose expertise includes cryptocurrency mining farms, proof-of-stake, masternodes, and cryptocurrency trading.
Jason holds Associate degrees in Computer Science and Psychology, and currently resides in the United States of America with his wife and son.
Jay McKinney Chief Web Development and Design Officer Jay is a veteran of the Iraq War who put his life on the line in combat to protect our freedoms. To center himself while stationed in the Iraqi warzone, he taught himself C# as he knew honing his Web Development skills would help him provide a better future for himself and his family. Upon returning home safely, he worked his way through college and holds bachelor's degrees in Computer Programming and Web Development & Design.
Jay has worked for the Kentucky Housing Corporation, serving as a software engineer and web developer. He is a loving family man who currently resides in the United States of America with his wife and two children.
David Johnson Chief Software Development Officer David holds a Master of Science degree in Information Systems and a Bachelor's degree in Business Administration with a specialization in Information Systems, graduating with Magna Cum Laude status. He has worked for the Kentucky Housing Corporation, serving as a network analyst and software engineer. As an entrepreneur, he has owned his own web and software development company since 2009, creating and maintaining several websites in C# and PHP, and has been operating the crypto-oriented YouTube channel BigBits since 2017, where he discusses automated Cryptocurrency trading strategies.
David is a proud father of two and resides in the United States of America with his wife and children. Like any good Kentuckian, he is a huge fan of the University of Kentucky's college sports teams.
Gabriel Condrea Software and Web Development Officer Gabriel Condrea holds a bachelor's degree in electrical and computer engineering and has worked as a software developer and senior systems engineer in both the United States and the United Kingdom, working with a variety of programming languages and IDEs. He has used his expertise to create Manufacturing and SCADA systems in industrial applications.
Gabriel also applies his engineering skills to cryptocurrency day trading, seeking to automate the process. He loves to travel and currently resides in the United States with his girlfriend.
Igor Otorepec Chief Hardware Development Officer Igor is an engineer with twenty years of experience specializing in advanced PLC programming and industrial robotics. He is also an IT security expert and a CEC Certified Ethical Cracker who uses his skills to expose and patch security vulnerabilities in blockchain codes.
Igor is an advanced cryptocurrency trader and Kung Fu master who uses bio-hacking as a way of life to keep his 'chi' constantly centered. He currently resides in Austria with his loving wife.
Manik Ehhsan Director of Marketing and Public Relations Manik holds a Bachelor's degree in Computer Science and has over five years of experience in Web Development, Digital Marketing and Graphics Design. He has also managed the marketing for more than 30 successful Cryptocurrency start-ups and projects, and specializes in SEO and ASO. Manik is also a Cryptocurrency project promotion expert with an emphasis on Masternodes and building Social Media Communities.
Manik has focused his life on Cryptocurrency and currently resides in Bangladesh with his loving family.
Rance Garrison Chief Marketing Officer Rance Garrison holds a bachelor's degree in Business Administration and specialized in Seminary Studies for his Master's degree. He served as an AmeriCorps VISTA at WMMT-FM, the radio station owned by Appalshop, an arts and education center in Kentucky, and has also specialized in local cable television advertising. Rance is also a musician who has released several albums independently over the last decade.
Rance is very dedicated to his local community and is most excited by the potential implications of cryptocurrencies and blockchain technology for rural and remote economies. He currently resides in the United States of America with his wife, dog, and cats.
Paul Gabens Chief Public Relations Officer A master negotiator with a penchant for strategy, Paul Gabens brings more than twenty years of marketing and promotional experience in the automotive, hospitality, and entertainment industries to the Wolfpack. He is also an avid stock and cryptocurrency trader, having first entered into the cryptocurrency market two years ago, embracing his passion for crypto with the same vigor as his love for travel, classic cars, extreme roller coasters, and surfing.
Paul holds degrees in business management, marketing, and automotive aftermarket. He currently resides in the United States with his fiancé and two cats.
Blake Stanley Marketing and Social Media Officer Blake Stanley is a cryptocurrency enthusiast who also has over six years of experience managing both government and private sector client and customer relations. A strategic thinker and expert in the field of social media-based advertising, Blake also owns and manages his own online marketing company where he has been successfully curating and implementing online marketing and advertising strategies for his clients for the past three years.
Blake is a proud father and family man and currently lives in the United States with his daughter and fiancé.
Martin Kilgore Market and Trading Analyst Martin Kilgore holds bachelor’s degrees in both accounting and mathematics, having researched Knot Theory and the Jones Polynomial during his undergraduate studies, giving him a firm edge when analyzing market conditions. He has worked as a staff accountant for several governmental organizations.
Martin lives in the United States with his fiancé.
Jonathan McDonald Chief Trading Strategy Officer Jonathan has honed his trading skills over the past five years by studying and implementing economics, financial strategy, Forex trading analysis and trading bots. Through his constant learning, he discovered Cryptocurrency after seeing the difference in market volatility and high yield trading. His fine-tuned trading strategies complement Crypto markets perfectly, and he has been implementing trading strategies to the Cryptocurrency market for over a year with phenomenal results. Jonathan is constantly improving his trading skills with an emphasis on scalping techniques. He has applied his trading skillset to the WolfpackBOT and enjoys working alongside the Wolfpack in creating the fastest trading bot on the market.
Jonathan currently resides in Canada with his supportive girlfriend and family.
Web site: https://www.wolfpackbot.com/
Technical document: https://www.wolfpackbot.com/Pdf/whitepaper_en.pdf
Bounty0x username: idrixoxo
submitted by idrixoxo2015 to u/idrixoxo2015 [link] [comments]

WolfpackBOT - The world's fastest and most secure trading bot

WolfpackBOT - The world's fastest and most secure trading bot

https://preview.redd.it/n7wutgsuzfd21.png?width=800&format=png&auto=webp&s=d0dac7147b8e70584305f997732a248d6b088ff9

INTRODUCTION

Cryptocurrency is essentially digital money traded from one person to another through the use of pseudonyms. There are no intermediaries like banks, no governmental oversight or authority, and no fees. The “crypto” in cryptocurrency refers to the use of cryptography to ensure the security and privacy of every transaction.
New coins are created through a technique called mining. The process requires powerful computers that solve complex math problems. Each problem should take about 10 minutes to solve, and results in the creation of a predetermined number of coins. The total number of coins that can be created is fixed — there’s a limit of 21 million bitcoins that can be created. The number of coins rewarded for solving each problem dwindles as time goes on.
Bitcoin is believed to have been created in 2009 by Satoshi Nakamoto, an enigmatic figure who has so far proven all but impossible to definitively identify. By using cryptography to control the creation and tracking of a digital currency, Nakamoto took that power away from central authorities like governments.
Bitcoin was the first and most famous digital currency, but you can choose from more than 1,500, including ether, litecoin and even cryptokitties. For awhile, you saw these currencies only in the darkest corners of the internet, where people used them for all sorts of questionable, even illegal, activities. Drug dealers liked them because they made transactions all but invisible, and trolls at the Kremlin-backed Internet Research Agency used bitcoin to finance their campaign to influence the 2016 election.
That started to change in 2014, when Overstock became the first major US retailer to accept bitcoin. Companies like Expedia and Microsoft followed suit.
One of the biggest misconceptions about cryptocurrencies is that you need thousands of dollars to invest. It’s an easy assumption to make, especially in the case of bitcoin, which stayed under $1,000 from about 2010 to 2017. But then it took off, surpassing thousand-dollar milestones at a pace that seemed quicker than you could refresh your phone.
The staggering value is off-putting to many. But unlike most stocks, you can buy a fraction of a bitcoin so you don’t need thousands to get into the crypto game.

OVERVIEW OF WolfpackBOT

WolfpackBOT is a highly advanced cryptocurrency trading software that allows for the execution of trades at lightning speed using proprietary trading algorithms, proprietary “Werewolf” Trading Analysis configurations, or user customized settings based on personal trading style. WolfpackBOT also allows for simultaneous trading access to all compatible cryptocurrency exchanges that are available to the bot, and all trading pairs with the WerewolfBOT subscription package.
WolfpackBOT is introducing an industry first, a beautiful automated cryptocurrency trading console: The WolfBOX. This efficient and sleek piece of hardware will conveniently allow for the full utilization of a bot subscription without the need for a VPS or dedicated computer. The WolfBOX will also include a built-in secure Hardware Wallet and RFID card reader to optimize ease-of-use and functionality.
WolfpackBOT trading software is enabled with limit, market, and “Wolf Trade” orders on all trading candles, including one-minute candles, with the widest array of technical trading indicators available on the market. WolfpackBOT's proprietary “Wolf Trade” orders provide superior market sell orders with a bite! WolfpackBOT is the only trading bot to feature live price scanning on your positions and also handles partial fills with ease, meaning you don’t miss out on orders. WolfpackBOT is incredibly fast and can fulfill up to 10,000 trades per day depending on market conditions and subscription package.
WolfpackBOT allows simultaneous trading access to all cryptocurrency exchanges that are available to the bot, and all trading pairs through the WerewolfBOT subscription plan. Not only do inferior bots allow limited access to one exchange and one trading pair per bot, they also store your API keys remotely on servers which are potentially susceptible to hacks and pump and dump attacks. User security and API key protection holds a high priority within the WolfpackBOT framework which is why it is the only trading bot that gives users full control with local management of their API keys.
Masternode and Proof of Work X11 Blockchain
Wolfcoin Blockchain with X11 Proof of Work Mining and Masternode Reward Systems The Wolfcoin blockchain and network are both designed and engineered to ensure store of value, transactional speed and security, and fungibility. The main goal of the Wolfcoin blockchain is to facilitate fast and secure transactions with a governance that helps sustain the network for the benefit of all users. The Wolfcoin blockchain is a two-tier network comprised of a Proof of Work (PoW) consensus mechanism powered by miners and a Proof of Service (PoSe) system powered by masternodes.
The Wolfcoin blockchain is secured through Proof of Work (PoW) in which miners attempt to solve difficult problems with specialized computers. When a problem is solved, the miner receives the right to add a new block to the blockchain. If the problem was solved correctly, the miner is rewarded once the block is added.
The second tier, which is powered by masternodes, enables Wolfcoin to facilitate private and instant transactions with Private Send and Instant Send. Masternodes are also rewarded when miners discover new blocks.
The block reward is distributed with 80% going to the masternodes and 20% going to miners. The masternode system is referred to as Proof of Service (PoSe), since the masternodes provide crucial services that support the features of the network.
Masternodes also oversee the network and have the power to reject improperly formed blocks from miners. If a miner tried to take the entire block reward for themselves, the masternode network would orphan the block ensuring that it would not be added to the blockchain.
In short, miners power the first tier, which is the basic sending and receiving of funds and prevention of double spending. Masternodes power the second tier, which provide the added features that make Wolfcoin different from other cryptocurrencies. Masternodes do not mine, and mining computers cannot serve as masternodes.
Additionally, each masternode is “secured” by 10,000 WOLF. Those WOLF remain under the sole control of their owner at all times. The funds are not locked in any way; however, if enough of the funds are moved or spent to cause the user’s holdings to drop below 10,000 Wolfcoin, the associated masternode will go offline and stop receiving rewards.
By pre-ordering your WolfpackBOT subscription, you will also receive Wolfcoin as a reward that can be utilized in the following ways:
  • Redeemable for WolfpackBOT subscriptions
  • Redeemable for the WolfBOX Console
  • Redeemable for WolfpackBOT and Wolfcoin apparel and merchandise
  • Fungible utility that can be exchanged for like value on exchanges
When you hold at least 10,000 Wolfcoin in your Wolfcoin wallet connected to a static IP address, you will become a masternode, meaning you will have a chance to receive 80 percent of the block reward every sixty seconds.

THE FEATURES

WolfpackBOT Automated Trading Software:

After the crowdsale, Wolfcoin will be the exclusive method of payment for WolfpackBOT Automated Trading Software subscriptions.

Multiple Technical Analysis Indicators:

WolfpackBOT offers the widest array of multiple Technical Analysis indicators, oscillators, configurations and settings available in the world of Automated Cryptocurrency Trading Bots. WolfpackBOT provides Bollinger Bands, Double EMA, Elliot Wave, EMA, EMA Cross, Fibonacci Sequence, KAMA, MA Cross, MACD, RSI, SMA, Stochastic, Stochastic RSI, Triple EMA, and many more!

Shorting Features:

WolfpackBOT includes Cryptocurrency Shorting Features that allow users to short their positions and buy them back at the lower price to maximize their returns.

Copyrighted Crash Protection:

Crash Protection, one of WolfpackBOT's most advanced features, enables users the option to automatically scan and convert all positions to a stable coin at the sign of our proprietary Hidden Bear Divergence Indicator, and then buy back into base currency to resume trading at the sign of our proprietary Hidden Bull Divergence Indicator.

Language Translator:

WolfpackBOT has a built in Language Translator that instantly translates the entire BOT into Dutch, English, French, German, or Spanish.

All Trading Pairs on all available Exchanges:

WolfpackBOT allows our customers to simultaneously trade on multiple cryptocurrency exchanges, and with all the exchange’s trading pairs available for trading. The best part is that it’s all possible on one bot with one subscription to the WerewolfBOT package!

Coin Selector:

While other automated trading platforms only allow for a limited amount of coins per subscription, WolfpackBOT allows all trading pairs and all coins to be traded on all the available major exchanges with the WerewolfBOT subscription. WolfpackBOT's proprietary Coin Selector allows for users to choose whether to trade all cryptocurrencies or blacklist some, thus not trading them at all, as well as search for the highest volume, greatest performing, or a specific volatility range of coins for a given timeframe.

Werewolf Configurations and Settings:

Werewolf Configurations and Settings are copyrighted trading algorithms that use proprietary optimum settings for trading: the perfect configuration for experienced and inexperienced traders alike. These settings can be adjusted to the current market trend, with preset configurations for bear, sideways, and bull markets.

Werewolf Ultimate:

Werewolf Ultimate is the ultimate choice when trading. It doesn't trade a particular trading pair or particular coins, it trades them all. It goes in for the kill to increase the potential returns. Crash Protection is a built-in feature in Werewolf Ultimate.

Werewolf Bull Market:

Werewolf Bull Market are preset settings and configurations that are usable when your Base Trading Pair is in a Bull Run. Werewolf Bull Market settings are optimized for such conditions and should only be used in a Bull Run Market.

Werewolf Sideways Market:

Werewolf Sideways Market are preset settings and configurations that are usable when your Base Trading Pair is trading sideways. Werewolf Sideways Market settings are optimized for such conditions and should only be used in a Sideways Trading Market.

Werewolf Bear Market:

Werewolf Bear Market are preset settings and configurations that are usable when your Base Trading Pair is in a Bear Run. Werewolf Bear Market settings are optimized for such conditions and should only be used in a Bear Run Market.

The WolfBOX Hardware Console:

WolfpackBOT also offers an industry first: a beautiful hardware console, The WolfBOX. Our console comes preloaded with WolfpackBOT Automated Trading Software and also includes a built-in secure hardware wallet. Some of the key features of the WolfBOX include our high-speed CPU, solid-state hard drive, built-in RFID card reader, and integrated Bitpay and Coinbase wallets.

Wolfpack Consulting

Our company offers its services and expertise as Cryptocurrency and Blockchain Specialists to individuals and companies. We offer consulting services in the fields of blockchain and cryptocurrency development and management.

Wolfpack Philanthropy

We are dedicated to the proposition that we have a responsibility to use a portion of our company’s revenue to help create a better world and a brighter future. As we move forward, our philanthropic efforts include environmental stewardship, renewable energy, human rights, economic development, as well as animal and wildlife rescue and conservation with an emphasis on dogs and wolves.

Wolfcoin Information

THE WOLFCOIN Wolfcoin is the coin that fuels all WolfpackBOT's projects.
This utility, coupled with the reward systems with mining and Masternoding capabilities, makes the use of Wolfcoin potentially appealing to all WolfpackBOT users whom are interested in receiving additional Wolfcoin for subscriptions, merchandise and other rewards such as passive cryptocurrency portfolio growth.
THE WOLFCOIN WALLET WolfpackBOT uses our proprietary Wolfcoin Core QT wallet.
February 2018 Conceptual development of WolfpackBOT Software
May 2018 Company Roadmap development Alpha models of WolfpackBOT Software
June 2018 Ongoing research, development, and testing
October 2018 Advertising and Marketing Campaign Starts Wallets available for payment; BTC, BTG, DASH, DOGE, ETC, ETH, LTC October 15 - Pre-registration begins
November 2018 November 1 - Crowdsale Stage I begins
December 2018 Official presentation of WolfpackBOT beta Software Preview Creation of Wolfcoin (WOLF: 300,000,000 coins pre-mined on Genesis Block) WolfpackBOT beta Software release to selected customers
December 21 - Launch network and mine Genesis block
December 22 - PoW / Mainnet
December 23 - Blockchain and network testing
December 28 - Iquidis Wolfcoin Block Explorer released on our website
January 2019 January 1 - Wolfcoin Core wallets available for download on the website January 1 - Wallet and Masternode Tutorial available January 1 - Masternode and PoW instructional videos available January 1 - Subscription Pre-order Coin Rewards disbursed Announcement listing WOLF on top-10 Exchange
February 2019 February 1 - Crowdsale Stage I Ends February 1 - Crowdsale Stage II Begins
March 2019 March 15 - Crowdsale Stage II Ends March 15 - Crowdsale Stage III Begins WolfpackBOT Software roll-out to contributors WolfBOX Console available for Pre-order
April 2019 WolfpackBOT Subscriptions available for customers First Major version released: automated, manual, and paper trading WolfpackBOT Live support center April 30 - Crowdsale Stage III Ends
May 2019 WolfBOX Consoles Pre-orders first shipment
June 2019 New trading features such as new exchanges, strategy options and indicators
July 2019 New trading features such as new exchanges, strategy options or indicators
August 2019 WolfpackBOT Software Trading Platform V2.0 Second major release: Strategy Marketplace and Back-testing
September 2019 New trading features such as new exchanges, strategy options or indicators
October 2019 WolfpackBOT Software Trading Platform V3.0 Third major release: Signals Marketplace (Supporting 3rd Party App Signals) Mobile Application for WolfpackBOT Software and Trading Platform
November 2019 New trading features such as new exchanges, strategy options or indicator
December 2019 WolfpackBOT Software Trading Platform V4.0
January 2020 WolfpackBOT Software Trading Platform V5.0 Fourth major release: Machine Learning Strategy Optimization

THE AMAZING TEAM

Philip Longhurst Chief Executive Officer The leader of our pack and the man behind the WolfpackBOT trading bot, Philip Longhurst is a mathematical genius, engineer, day trader, and animal rescuer. As an account manager for J.P. Morgan and MBNA Bank, Phil managed the accounts of several high-profile clients and businesses. He has been successfully trading stocks for over twenty-five years and has successfully applied his trading expertise and mathematical acumen to the cryptocurrency market since 2013.
Philip holds bachelor's degrees in mechanical engineering and business administration and is a loving husband, father, and family man who has been rescuing dogs since 1995. His driving desire is to use the success of Wolfpack Group to create a brighter future for humanity. He currently resides in the United States of America with his wife, daughter, and dogs.
Rogier Pointl Chief Financial Officer Rogier Pointl is a successful entrepreneur with nearly twenty-five years of experience in business management, marketing, financial administration, economics, and fintech. Rogier holds bachelor's degrees in Business Communications and Financial Administration. He is a pioneer in the field of virtual reality, having served as CEO and owner of Simworld, the first virtual reality racing center in Europe, where he oversaw the development of advanced simulator and virtual reality hardware and software.
Rogier is an experienced trader and has been trading stocks since 2007. He began applying his expertise to the cryptocurrency market in 2010, gaining experience as a Bitcoin miner along the way. Rogier is a loving husband and father and currently resides in the Netherlands with his wife and two daughters.
Jason Cormier Chief Technical Officer Jason Cormier is a humble -but extraordinary- individual who is blessed with a Mensa IQ of 151, he is continually driven by a desire for knowledge and self-growth. He is self-taught in Visual Basics, C#, C++, HTML, and CSS and began developing programs and applications at the age of 14, including the TCB Wallet, which was the first ever wallet program that held its users' log in names and passwords. Jason is a cryptocurrency guru whose expertise includes cryptocurrency mining farms, proof-of-stake, masternodes, and cryptocurrency trading.
Jason holds Associate degrees in Computer Science and Psychology, and currently resides in the United States of America with his wife and son.
Jay McKinney Chief Web Development and Design Officer Jay is a veteran of the Iraq War who put his life on the line in combat to protect our freedoms. To center himself while stationed in the Iraqi warzone, he taught himself C# as he knew honing his Web Development skills would help him provide a better future for himself and his family. Upon returning home safely, he worked his way through college and holds bachelor's degrees in Computer Programming and Web Development & Design.
Jay has worked for the Kentucky Housing Corporation, serving as a software engineer and web developer. He is a loving family man who currently resides in the United States of America with his wife and two children.
David Johnson Chief Software Development Officer David holds a Master of Science degree in Information Systems and a Bachelor's degree in Business Administration with a specialization in Information Systems, graduating with Magna Cum Laude status. He has worked for the Kentucky Housing Corporation, serving as a network analyst and software engineer. As an entrepreneur, he has owned his own web and software development company since 2009, creating and maintaining several websites in C# and PHP, and has been operating the crypto-oriented YouTube channel BigBits since 2017, where he discusses automated Cryptocurrency trading strategies.
David is a proud father of two and resides in the United States of America with his wife and children. Like any good Kentuckian, he is a huge fan of the University of Kentucky's college sports teams.
Gabriel Condrea Software and Web Development Officer Gabriel Condrea holds a bachelor's degree in electrical and computer engineering and has worked as a software developer and senior systems engineer in both the United States and the United Kingdom, working with a variety of programming languages and IDEs. He has used his expertise to create Manufacturing and SCADA systems in industrial applications.
Gabriel also applies his engineering skills to cryptocurrency day trading, seeking to automate the process. He loves to travel and currently resides in the United States with his girlfriend.
Igor Otorepec Chief Hardware Development Officer Igor is an engineer with twenty years of experience specializing in advanced PLC programming and industrial robotics. He is also an IT security expert and a CEC Certified Ethical Cracker who uses his skills to expose and patch security vulnerabilities in blockchain codes.
Igor is an advanced cryptocurrency trader and Kung Fu master who uses bio-hacking as a way of life to keep his 'chi' constantly centered. He currently resides in Austria with his loving wife.
Manik Ehhsan Director of Marketing and Public Relations Manik holds a Bachelor's degree in Computer Science and has over five years of experience in Web Development, Digital Marketing and Graphics Design. He has also managed the marketing for more than 30 successful Cryptocurrency start-ups and projects, and specializes in SEO and ASO. Manik is also a Cryptocurrency project promotion expert with an emphasis on Masternodes and building Social Media Communities.
Manik has focused his life on Cryptocurrency and currently resides in Bangladesh with his loving family.
Rance Garrison Chief Marketing Officer Rance Garrison holds a bachelor's degree in Business Administration and specialized in Seminary Studies for his Master's degree. He served as an AmeriCorps VISTA at WMMT-FM, the radio station owned by Appalshop, an arts and education center in Kentucky, and has also specialized in local cable television advertising. Rance is also a musician who has released several albums independently over the last decade.
Rance is very dedicated to his local community and is most excited by the potential implications of cryptocurrencies and blockchain technology for rural and remote economies. He currently resides in the United States of America with his wife, dog, and cats.
Paul Gabens Chief Public Relations Officer A master negotiator with a penchant for strategy, Paul Gabens brings more than twenty years of marketing and promotional experience in the automotive, hospitality, and entertainment industries to the Wolfpack. He is also an avid stock and cryptocurrency trader, having first entered into the cryptocurrency market two years ago, embracing his passion for crypto with the same vigor as his love for travel, classic cars, extreme roller coasters, and surfing.
Paul holds degrees in business management, marketing, and automotive aftermarket. He currently resides in the United States with his fiancé and two cats.
Blake Stanley Marketing and Social Media Officer Blake Stanley is a cryptocurrency enthusiast who also has over six years of experience managing both government and private sector client and customer relations. A strategic thinker and expert in the field of social media-based advertising, Blake also owns and manages his own online marketing company where he has been successfully curating and implementing online marketing and advertising strategies for his clients for the past three years.
Blake is a proud father and family man and currently lives in the United States with his daughter and fiancé.
Martin Kilgore Market and Trading Analyst Martin Kilgore holds bachelor’s degrees in both accounting and mathematics, having researched Knot Theory and the Jones Polynomial during his undergraduate studies, giving him a firm edge when analyzing market conditions. He has worked as a staff accountant for several governmental organizations.
Martin lives in the United States with his fiancé.
Jonathan McDonald Chief Trading Strategy Officer Jonathan has honed his trading skills over the past five years by studying and implementing economics, financial strategy, Forex trading analysis and trading bots. Through his constant learning, he discovered Cryptocurrency after seeing the difference in market volatility and high yield trading. His fine-tuned trading strategies complement Crypto markets perfectly, and he has been implementing trading strategies to the Cryptocurrency market for over a year with phenomenal results. Jonathan is constantly improving his trading skills with an emphasis on scalping techniques. He has applied his trading skillset to the WolfpackBOT and enjoys working alongside the Wolfpack in creating the fastest trading bot on the market.
Jonathan currently resides in Canada with his supportive girlfriend and family.
Web site: https://www.wolfpackbot.com/
Technical document: https://www.wolfpackbot.com/Pdf/whitepaper_en.pdf
Bounty0x username: idrixoxo
submitted by idrixoxo2015 to u/idrixoxo2015 [link] [comments]

Biased Nonce Sense: Lattice Attacks against Weak ECDSA Signatures in Cryptocurrencies

Cryptology ePrint Archive: Report 2019/023
Date: 2019-01-08
Author(s): Joachim Breitner, Nadia Heninger

Link to Paper


Abstract
In this paper, we compute hundreds of Bitcoin private keys and dozens of Ethereum, Ripple, SSH, and HTTPS private keys by carrying out cryptanalytic attacks against digital signatures contained in public blockchains and Internet-wide scans. The ECDSA signature algorithm requires the generation of a per-message secret nonce. This nonce must be generated perfectly uniformly, or else an attacker can exploit the nonce biases to compute the long-term signing key. We use a lattice-based algorithm for solving the hidden number problem to efficiently compute private ECDSA keys that were used with biased signature nonces due to multiple apparent implementation vulnerabilities.

References
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  2. Bitcoin wiki: Address reuse. https://en.bitcoin.it/wiki/Address reuse (2018)
  3. Akavia, A.: Solving hidden number problem with one bit oracle and advice. In: Halevi, S. (ed.) Advances in Cryptology - CRYPTO 2009. pp. 337–354. Springer Berlin Heidelberg, Berlin, Heidelberg (2009)
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  5. Benger, N., van de Pol, J., Smart, N.P., Yarom, Y.: “Ooh aah... just a little bit”: A small amount of side channel can go a long way. In: Batina, L., Robshaw, M. (eds.) Cryptographic Hardware and Embedded Systems – CHES 2014. pp. 75–92. Springer Berlin Heidelberg, Berlin, Heidelberg (2014)
  6. Boneh, D., Venkatesan, R.: Hardness of computing the most significant bits of secret keys in diffie-hellman and related schemes. In: Koblitz, N. (ed.) Advances in Cryptology — CRYPTO ’96. pp. 129–142. Springer Berlin Heidelberg, Berlin, Heidelberg (1996)
  7. Bos, J.W., Halderman, J.A., Heninger, N., Moore, J., Naehrig, M., Wustrow, E.: Elliptic curve cryptography in practice. In: Christin, N., Safavi-Naini, R. (eds.) Financial Cryptography and Data Security. pp. 157–175. Springer Berlin Heidelberg, Berlin, Heidelberg (2014)
  8. Brengel, M., Rossow, C.: Identifying key leakage of bitcoin users. In: Bailey, M., Holz, T., Stamatogiannakis, M., Ioannidis, S. (eds.) Research in Attacks, Intrusions, and Defenses. pp. 623–643. Springer International Publishing, Cham (2018)
  9. Brown, D.R.L.: SEC 2: Recommended elliptic curve domain parameters. http://www.secg.org/sec2-v2.pdf (2010)
  10. Buterin, V.: Ethereum: A next-generation smart contract and decentralized application platform. https://github.com/ethereum/wiki/wiki/White-Paper (2013)
  11. Castellucci, R., Valsorda, F.: Stealing bitcoin with math (2016), https://news.webamooz.com/wp-content/uploads/bot/offsecmag/151.pdf
  12. Chen, Y., Nguyen, P.Q.: BKZ 2.0: Better lattice security estimates. In: ASIACRYPT. Lecture Notes in Computer Science, vol. 7073, pp. 1–20. Springer (2011)
  13. Courtois, N.T., Emirdag, P., Valsorda, F.: Private key recovery combination attacks: On extreme fragility of popular bitcoin key management, wallet and cold storage solutions in presence of poor rng events. Cryptology ePrint Archive, Report 2014/848 (2014), https://eprint.iacr.org/2014/848
  14. Dall, F., De Micheli, G., Eisenbarth, T., Genkin, D., Heninger, N., Moghimi, A., Yarom, Y.: Cachequote: Efficiently recovering long-term secrets of SGX EPID via cache attacks. IACR Transactions on Cryptographic Hardware and Embedded Systems 2018(2), 171–191 (May 2018). https://doi.org/10.13154/tches.v2018.i2.171-191, https://tches.iacr.org/index.php/TCHES/article/view/879
  15. De Mulder, E., Hutter, M., Marson, M.E., Pearson, P.: Using Bleichenbacher’s solution to the hidden number problem to attack nonce leaks in 384-bit ECDSA. In: Bertoni, G., Coron, J.S. (eds.) Cryptographic Hardware and Embedded Systems - CHES 2013. pp. 435–452. Springer Berlin Heidelberg, Berlin, Heidelberg (2013) Biased Nonce Sense 17
  16. Dierks, T., Rescorla, E.: The Transport Layer Security (TLS) protocol. IETF RFC RFC5246 (2008)
  17. Durumeric, Z., Adrian, D., Mirian, A., Bailey, M., Halderman, J.A.: A search engine backed by Internet-wide scanning. In: 22nd ACM Conference on Computer and Communications Security (Oct 2015)
  18. Heninger, N., Durumeric, Z., Wustrow, E., Halderman, J.A.: Mining your Ps and Qs: Detection of widespread weak keys in network devices. In: Proceedings of the 21st USENIX Security Symposium (Aug 2012)
  19. Howgrave-Graham, N.A., Smart, N.P.: Lattice attacks on digital signature schemes. Designs, Codes and Cryptography 23(3), 283–290 (Aug 2001). https://doi.org/10.1023/A:1011214926272, https://doi.org/10.1023/A:1011214926272
  20. Klyubin, A.: Some SecureRandom thoughts. https://android-developers.googleblog.com/2013/08/some-securerandom-thoughts.html (August 2013)
  21. Lenstra, A.K., Lenstra, H.W., Lovasz, L.: Factoring polynomials with rational coefficients. MATH. ANN 261, 515–534 (1982)
  22. Michaelis, K., Meyer, C., Schwenk, J.: Randomly Failed! The State of Randomness in Current Java Implementations. In: CT-RSA. vol. 7779, pp. 129–144. Springer (2013)
  23. Nakamoto, S.: Bitcoin: A peer-to-peer electronic cash system. http://bitcoin.org/bitcoin.pdf (2009)
  24. National Institute of Standards and Technology: FIPS PUB 180-2: Secure Hash Standard (Aug 2002)
  25. National Institute of Standards and Technology: FIPS PUB 186-4: Digital Signature Standard (DSS) (Jul 2013)
  26. Nguyen, P.Q., Shparlinski, I.E.: The insecurity of the elliptic curve digital signature algorithm with partially known nonces. Designs, Codes and Cryptography 30(2), 201–217 (Sep 2003). https://doi.org/10.1023/A:1025436905711, https://doi.org/10.1023/A:1025436905711
  27. Nguyen, P.Q., Stehl´e, D.: LLL on the average. In: Hess, F., Pauli, S., Pohst, M. (eds.) Algorithmic Number Theory. pp. 238–256. Springer Berlin Heidelberg, Berlin, Heidelberg (2006)
  28. Pollard, J.M.: Monte Carlo methods for index computation (mod p). In: Mathematics of Computation. vol. 32 (1978)
  29. Pornin, T.: Deterministic usage of the digital signature algorithm (DSA) and elliptic curve digital signature algorithm (ECDSA). https://tools.ietf.org/html/rfc6979 (2013)
  30. rico666: Large bitcoin collider. https://lbc.cryptoguru.org/
  31. Schnorr, C.P.: A hierarchy of polynomial time lattice basis reduction algorithms. Theor. Comput. Sci. 53(2-3), 201–224 (Aug 1987). https://doi.org/10.1016/0304-3975(87)90064-890064-8), http://dx.doi.org/10.1016/0304-3975(87)90064-890064-8)
  32. Schnorr, C.P., Euchner, M.: Lattice basis reduction: Improved practical algorithms and solving subset sum problems. Math. Program. 66(2), 181–199 (Sep 1994). https://doi.org/10.1007/BF01581144, http://dx.doi.org/10.1007/BF01581144
  33. Schwartz, D., Youngs, N., Britto, A.: The Ripple protocol consensus algorithm. https://ripple.com/files/ripple consensus whitepaper.pdf (2014), https://ripple.com/files/ripple consensus whitepaper.pdf, accessed: 2016-08-08
  34. Shanks, D.: Class number, a theory of factorization, and genera. In: Proc. of Symp. Math. Soc., 1971. vol. 20, pp. 41–440 (1971)
  35. Team, B.: Android wallet security update. https://blog.blockchain.com/2015/05/28/android-wallet-security-update/
  36. The Sage Developers: SageMath, the Sage Mathematics Software System (Version 8.1) (2017), http://www.sagemath.org
  37. Valsorda, F.: Exploiting ECDSA failures in the bitcoin blockchain. Hack In The Box (HITB) (2014)
  38. Ylonen, T., Lonvick, C.: The Secure Shell (SSH) transport layer protocol. IETF RFC 4253 (2006)
submitted by dj-gutz to myrXiv [link] [comments]

r/bitcoin recap - March 2017

Hi Bitcoiners!
I’m back with the third monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
Now archived on Bitcoinsnippets.com
As promised, I launched a website as an archive, where I post the version with links to the original posts and discussions so this post doesn't get auto-moderated. Special thanks goes out to Bitttburger for thinking of the name Bitcoin Snippets.
I went back in time and made an overview for December 2016 too. I’ll probably make recaps of 1-2 previous months for each month I progress, so that I eventually end up with everything in a few years.
Starting from this month, I’m going to cut back on including memes, there’s too many and they overtake the interesting news.
A recap of March 2017 in bitcoin
Version with links on Bitcoinsnippets.com
Thanks to everyone who contributed to Bitcoin in a positive way this month!
submitted by SamWouters to Bitcoin [link] [comments]

Novice, Intermediate or Expert? A Quiz to Test Your Bitcoin Knowledge

Think you know the ins-and-outs of bitcoin? Test yourself with 30 questions that grill you on Bitcoin’s history, technology and politics. The 30 questions are split up into three segments ranging from novice to intermediate to expert, and cover a wide range of topics across the Bitcoin landscape.
If you get stuck or want to check your answers along the way, an answer sheet has been added below the quiz. Of course, these questions cover only a few points about Bitcoin so far — with so many new developments taking place, there is always more to learn. Good luck!
Novice Questions 1. Who created bitcoin?
a. Vitalik Buterin b. Gavin Andresen c. Satoshi Nakamoto d. Charlie Lee e. Jackson Palmer 2. What is the original document that proposed Bitcoin, considered by many in the space to be a “must read”?
a. The Bitcoin White Paper b. The Golden Proposal c. E-Money: Bitcoin and the Blockchain d. The Bitcoin Manifesto e. The Bitcoin Constitution 3. What is the name of the bitcoin exchange from Japan that famously collapsed in 2014 due to a devastating hack?
a. Tradehill b. Bitstamp c. Mt. Gox d. Blockchain.info e. Bit Trade 4. How many bitcoin will ever be created?
a. Unlimited b. 77,340,109 c. 3,500,000 d. 21,000,000 e. 18,650,000 5. What is the name of the off-chain scaling solution that is being developed to mitigate bitcoin’s fees and long transaction times?
a. Instasend b. Second Layer Network c. Lightning Network d. Quick Net e. The Bitcoin Payment Network 6. Which of the following statements is NOT true about bitcoin wallets?
a. Wallets can come in many forms, as long as they hold your private keys. b. Wallets have addresses that anyone can use to see the current number of unspent bitcoins in them. c. The only thing someone needs to access a wallet is the private key. d. It is possible to send bitcoin by signing the transaction offline and then broadcasting the transaction later. e. To open a wallet you must submit a request to the wallet provider. 7. What is the name of the technology underlying Bitcoin?
a. Bitchain b. Blocklink c. Blockchain d. CoinLedger e. Satoshisquare 8. True or false? Bitcoin can be sent to an Ethereum address.
a. True b. False 9. The first underground marketplace on the dark web which used bitcoin as its native currency and was created by Ross Ulbricht was called:
a. Black Onion b. BTC Market c. East India Trading Company d. Silk Road e. Worldwide Drug Emporium 10. Bitcoins can be divisible down to the eighth decimal point. What is that unit called?
a. Bit b. Satoshi c. Naki d. Shill e. Bitsat Intermediate Questions 11. Which traditional stock exchange was the first to list bitcoin futures contracts?
a. The New York Stock Exchange (NYSE) b. The Intercontinental Exchange (ICE) c. The Chicago Mercantile Exchange (CME) d. The Chicago Board Options Exchange (CBOE) e. None of the above. Futures contracts are only available on cryptocurrency exchanges like BitMex and Bitfinex. 12. The computers that find new blocks are called:
a. Accountants b. Miners c. Mitigators d. Associates e. Verifiers 13. Which of the following is NOT true about Bitcoin Cash, a fork from Bitcoin?
a. Bitcoin Cash was created over an ongoing debate within the Bitcoin community over scaling and transaction speed. b. Roger Ver uses bitcoin.com to convince new investors that Bitcoin Cash is the original bitcoin. c. Bitcoin Cash is commonly referred to as “Bcash” because (some) bitcoin proponents don’t want to give the forked currency the brand recognition that Bitcoin has accumulated since 2009. d. Bitcoin Cash uses the SHA-256 hash function (the same as Bitcoin). e. Bitcoin Cash removed its block size limit completely. 14. Where is the Bitcoin processing server located?
a. Washington, D.C., USA b. London, England c. Undisclosed location d. The United Nations votes on a new location every two years e. None of the above — Bitcoin has no processing server 15. What date was the Bitcoin network launched?
a. November 5, 2008 b. May 1, 2010 c. January 3, 2009 d. December 31, 2008 e. April 23, 2010 16. When was Bitcoin’s all-time high exchange rate achieved (as of 9/11/18)?
a. January 12, 2016 b. July 15, 2017 c. December 17, 2017 d. August 3, 2018 e. January 10, 2014 17. Which of the following statements is true?
a. Bitcoin is owned by the NSA. b. By 2030, all bitcoins will have been mined. c. Bitcoin has smart contract capabilities. d. Before Satoshi created Bitcoin, he and a group of developers premined roughly 1 million coins. e. Only select people can mine bitcoins. 18. How often, on average, can we expect a new block be found by miners?
a. > 1 second b. 2 minutes c. 10 minutes d. 60 minutes e. 6 hours 19. What is Bitcoin Pizza Day, May 22nd?
a. A day every year where people who hold bitcoin pay forward a random pizza to a stranger b. The day when a computer programmer, Laszlo Hanyecz, paid 10,000 bitcoins for two pizzas in 2010 c. The day Satoshi announced his favorite food is pizza d. The day Vitalik compared bitcoin’s security to that of a soggy pizza e. A day sponsored by Pizza Hut where you can pay for pizza with bitcoin 20. How many new bitcoins should be created each day with the current block reward, on average?
a. 2,200 except for February 29 on leap years b. 1,800 c. 5,000 d. 7,200 e. 150 Expert Questions 21. What is the difference between a soft fork and a hard fork?
a. A soft fork happens when the code of a project is copied with permission of the original developers. A hard fork happens when the code of a project is copied without the permission of the original developers. b. A hard fork is a backwards-incompatible protocol change because it makes previously invalid blocks or transactions valid. A soft fork is a backwards-compatible protocol change because it makes previously valid blocks or transactions invalid. c. A hard fork occurs when miners in a mining pool cannot agree on how the block reward should be divided. A soft fork occurs when miners in a mining pool collectively decide to change how block rewards should be distributed. d. None of the above. 22. What does ASIC stand for?
a. Applied Socioeconomic Investment Compository b. Application Specific Integrated Circuit c. Anonymous Spending Instrument for Cryptocurrencies d. Alternative Synthetic Interoperability Circuit e. Antiquated System for Implied Cryptography 23. What does an ASIC do for Bitcoin?
a. Allows consumer access to high-level investment information, similar to a Bloomberg terminal b. Allows users to trade cryptocurrencies between different blockchains c. Anonymously allows users to send cryptocurrencies that aren’t entirely private d. Performs one specific task of solving a mathematical problem in order to find a new block e. Allows developers to cross reference current technology stacks with older languages 24. Is Bitcoin truly anonymous?
a. Yes, people who use bitcoin cannot have their transactions traced by anyone. b. No, bitcoin addresses are derived from IP addresses. c. No, all transactions are recorded on a global transparent ledger that can be traced using analytical technologies. d. No, addresses openly show the name of the user. e. No, bitcoins can be linked to a user’s social security number. 25. What is SHA 256?
a. A secure hashing algorithm used by Bitcoin, originally designed by the NSA b. A set of rules that miners and nodes must follow c. A scheme devised by Craig Wright to convince people he is Satoshi d. An annual conference in New York for blockchain enthusiasts e. The language Satoshi and early developers used to communicate behind closed doors 26. What is a nonce?
a. An empty value in each block that is filled by the miner of that block b. Another name for a node c. A mining device faster than an ASIC d. A part inside a processing chip used in mining e. A name for a troll in Reddit forums 27. What is “difficulty” in relation to Bitcoin?
a. A measure of how hard it is to explain what Bitcoin is b. A measure of how difficult it is to find a hash below the target c. A measure of long it takes to send bitcoin between addresses d. A measure of how difficult it is for bitcoin to move a certain number of basis points e. A measure of how hard it is for Bitcoin to recover to its all-time high 28. What is multi-sig verification?
a. An older method of confirming bitcoin transactions now replaced by single-sig verification b. Verification that a user is allowed to hold bitcoins in a certain address by requiring multiple signatures from friends and family c. A form of verifying if someone is telling the truth by having multiple signatures from people monitoring the event taking place d. A process by which miners select which transaction to verify by having three other miners create a signature giving permission for the transaction to be verified e. A technology to verify wallets by requiring multiple signatures to process a single transaction with enhanced security 29. Bitcoin consumes roughly 1 percent of the world’s energy consumption. What does this mean about its security?
a. A malicious actor doesn’t need to consider the total energy consumption in order to successfully execute a 51% attack. b. Bitcoin is secure to the point that it would require approximately 0 .0001% of the entire world’s energy consumption to attack the network. c. Bitcoin is secure to the point that it would require approximately 1% of the entire world’s energy consumption to attack the network. d. A malicious actor would need 10 times the amount of Bitcoin’s energy consumption in order to successfully attack the network. 30. What is a Merkle Root in Bitcoin?
a. A hash of all transactions in a block that allows any specific transaction to be verified without downloading the entire blockchain b. A series of complex data that uniquely identifies the owner of an address c. A program designed by David Merkle that uncovers the largest inactive bitcoin wallets d. A cryptocurrency developed by the chancellor of Germany e. A part of a complex system of underground “roots” that power the Bitcoin blockchain How did you do? Answers:
  1. c. Satoshi Nakamoto
  2. a. The Bitcoin Whitepaper
  3. c. Mt. Gox
  4. d. 21,000,000
  5. c. Lightning Network
  6. e. To open a wallet, you must submit a request to the wallet provider.
  7. c. Blockchain
  8. b. false
  9. d. Silk Road
  10. b. Satoshi
  11. d. The Chicago Board Options Exchange (CBOE)
  12. b. Miners
  13. e. Bitcoin Cash removed its block size limit completely. (The limit is actually 32MB.)
  14. e. None of the above — Bitcoin has no central server
  15. c. January 3, 2009
  16. c. December 17, 2017
  17. c. Bitcoin has smart contract capabilities
  18. c. 10 minutes
  19. b. The day when a computer programmer, Lazlo Hanyecz, paid 10,000 bitcoins for two pizzas in 2010
  20. b. 1,800
  21. b. A hard fork is a backwards incompatible protocol change because it makes previously invalid blocks or transactions valid. A soft fork is a backwards compatible protocol change because it makes previously valid blocks or transactions invalid.
  22. b. Application Specific Integrated Circuit
  23. d. Performs one specific task of solving a mathematical problem in order to find a new block
  24. c. No, all transactions are recorded on a global transparent ledger that can be traced using analytical technologies
  25. a. A secure hashing algorithm used by Bitcoin, originally designed by the NSA
  26. a. An empty value in each block that is filled by the miner of that block
  27. b. A measure of how difficult it is to find a hash below the target
  28. e. A technology to verify wallets by requiring multiple signatures to process a single transaction with enhanced security
  29. c. Bitcoin is secure to the point that it would require 1% of the entire world’s energy consumption to attack the network. (side note: bitcoin mining, while energy intensive, can be done in an eco-friendly, even carbon-neutral, manner. And it’s getting better all the time.)
  30. a. A hash of all transactions in a block that allows any specific transaction to be verified without downloading the entire blockchain.
The article is from Bitcoin Magazine.
UEX official international group: https://t.me/uex_en
Twitter: https://twitter.com/UexComOfficial
Medium:https://medium.com/@UexOfficial
Facebook: https://www.facebook.com/uexofficial1/
Reddit:https://www.reddit.com/UexOfficial/
UEX customer service:https://uex.udesk.cn/im_client/?web_plugin_id=52234
submitted by uexbruce to UexOfficial [link] [comments]

(({{{Bitcoin$Free}})) Best. Cryptocurrency. Trading. Platform.

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submitted by besterse to BestCryptoPlatform [link] [comments]

[Discussion] What would it take for the bitcoin community to reverse a fraudulent transaction?

I am curious as to what it would take for the bitcoin community to deem a fraudulent transaction so serious that they would be willing to fork the blockchain and "reverse" the transaction.
If a single user had 10 BTC stolen from an insecure wallet, of course it wouldn't garner enough community support to reverse that transaction.
But let's imagine a much more serious heist. Let's say the 100,000 BTC that belongs to the Winklevoss brother's ETF gets stolen. Will the community get together and reverse that?
At some point, a heist that is serious enough will be able to garner enough support from everyone to reverse it. For example, on August 15, 2010, a vulnerability was exploited, fraudulently generating over 184 billion BTC in a transaction. The transaction was eventually reversed, and the network forked after fixing the vulnerability.
So my question is, how serious do you think a fraudulent transaction has to be before the community is willing to reverse it?
submitted by ELY5 to Bitcoin [link] [comments]

[Table] IAmA: We Are a Team Working to Restore a Cold War Nuclear Bunker; The Only One of It's Type Left In Canada! AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-07-27
Link to submission (Has self-text)
Questions Answers
I went to visit the bunker last year. When I was there, I was informed that it would never again be fully operational and even if it was, it could not withstand the blast from even the smallest nuclear bomb. So my question is, is this true? Also, if it is true, why go through the trouble of making it functional if it cannot be used for anything other than tourism? I am not sure if you were here when we had control of it or not. Regardless, to answer your questions, the facility was never designed for a direct hit. It was designed for a near miss attack. This means that if a nuclear strike were to happen within 1 1/2 miles of the facility, it would survive with almost no damage inside.
As for full operations, we are already at over 80% functionality. Some of the functions necessary for fallout like radiation scrubbers for our air systems, are not a high priority at this stage of revitalization. However, we have gotten many systems back up and working we never thought would be working again. We are 100% confident this facility could become a fully functional fallout facility with just a little more work. Without any eminent threat of being nuked any time though, we are not fully focused on those items right now.
Would like to note that this facility does have EMP shielding that would withstand any solar radiation bursts. Which is a more likely scenario this facility will provide protection against.
Will it still be available for tourists? It was one of my favourite things from my Ottawa trip last year. Also, are you keeping all the vintage shenanigans that were there? Now that you mention Ottawa, I should note that this facility is another Diefenbunker, but the condition of it is very different. It's size is also smaller.
We are not likely going to allow continued tourist as some of our planned operations require security.
If by vintage shenanigans you mean like the control systems and boilers, and generators, the answer is yes and no. Some will be kept, and others will be updated. For example, we have plans to develop solar thermal solutions that will replace our boilers. Other systems that are still functional that we can interface with our new systems we will continue to work on. For example, we recently interfaced the old temperature sensors into a new digital display as shown in this youtube video: Link to www.youtube.com
To be fair, it could just be a fridge from the forties. Well we have some pretty big veggie and meat lockers in the kitchen. Feeding 350 people took a fair amount of food.
Who the hell would put debert nova Scotia on a nuke to do list? Is there a military base there? Debert became a military base back during WWII. It was the staging ground for final training for Canadian forces before they took off the take down the Nazis. Its geographic location made it central for the atlantic region, and its distance from a more likely target (Halifax boat yard) made it ideal. The base now has been decommissioned though.
Can I reserve my room for the war? I have large amounts of caps saved up and can offer you cooking skills. When caps become dollars sure.
Do the many systems include the Canadian nuclear arsenal ?...actually thinking about it why does Canada even have bunkers who would nuke canada? even if they survived they would probably say thank you...eh. Canada played a much more frontal role in past wars. We have not found a nuke button yet though. Canada's primary weapon of choice has been polite kindness I agree.
Oh man, I'm going to be in nova scotia in a few weeks. I would love to see this place.. but even though I'm going to be fairly close I don't think it's in the travel plans :( Nuts. August 17th 18th is the time to be here if you decide to change your mind.
We are not likely going to allow continued tourist as some of our planned operations require security. Data centre... The data center portion of the building is actually a building within the building. The Samson Node, as it was referred to, is a giant copper capsule basically which keeps all forms of EMP and radio signals from being able to penetrate it. At one time it handled NATO communications data. That space is small compared to the rest of the facility though, so we need to put the rest of the place to good use. Given the trends in server computing it will provide all the space and power we require.
Wouldn't solar heaters be effected by any change in the albedo? (nuclear winter scenario) Also, did you know n-acetylcysteine and many other antioxidants are radioprotective, Also, did you see the 2010 film "The Road" which features a bomb shelter scene? Likely they might. But until then they are going to do wonders for our operational costs. No, did not. Yes, I recall the bomb shelter scene, and this place is a whole lot bigger.
Are you going to preserve at least some of, for instance, the boilers even after you've replaced them? Absolutely. Many of them are just going to be more trouble than its worth to remove. We are not desperate for space in here, so keeping them won't be an issue.
As you can see, we have actually gone to a fair amount of effort to try and integrate the old systems into new ones that we can make more efficient while preserving the old analog look and feel of most of the controls. Our most recent triumph was with the fresh air dampener system. By controling a dial they now respond. You can see the youtube video here: Link to www.youtube.com
What's gonna happen on the 17th and 18th?? More public tours fundraising for the Debert Military Museum. You are welcome to them!
You said you won't care for the public later on but you want people to come and give you money now? Don't know how you equate that to not caring for the public. I don't get that either.
How much has it cost since you started? We are up to about 45,000 so far...
Bottlecaps? Or NCR Dollars? How about Bitcoin?
So you lose it all if the previous owner wins the lawsuit? Correct.
Nah Bitcoin won't work post-apo. The network would be down... Still be up here! Perhaps should keep all your bitcoins here.
Can you elaborate a bit on this please? All of the information surrounding this is at www.savethebunker.com. A bit of a long read, but elaborate definitely!
If you've got a Bitcoin client up and running and it stays current right up to the apocalypse... Then you could reboot the network to its last-known-good state, once the lights come back on. And anyone who had a surviving digital wallet or a paper wallet would be able to recover his/her money as though nothing had happened. The question is: who would be willing to use Bitcoin as money if an EMP knocks out most computers? Humm.. so wouldn't it make bitcoins a sort of commodity then that are rare? Humm.. those that have working computers might actually become like exchanges until people get their own computers.
In the case of currency, it is a bad thing to be rare. Bitcoins are not collectibles - without currency value, a digital bitcoin isn't worth the storage space at any cost of hardware. Fair enough, we go to bottlecaps. :)
Whats your favorite thing in your job? There are several of us on the team so I'll give you a few of our responses to this one.
Isaac: The history behind every door.
Justin (Electronics Tech): working with the vintage technology and power generating plant.
Colton: Being a part of the history of this place.
Isn't this the first line in every zombie movie ever? I umm.. errr umm.. well.. umm..
I visited this place on my grade 8 trip (7-8 years ago) and had a blast! (No pun intended) The tour guide had said that they used to store gold bars there. Is that true? They sure would have stored gold bars inside the bunker. There are two vaults, one on each floor. The larger one on the top floor is the Bank of Canada vault. The 1300lb steel doors for the vaults were actually removed and left to sit there while the bunker was being decommissioned. We have installed the Bank of Canada vault door back onto it's hinges, and it is operational again. There is a super small safe inside of the Bank of Canada vault that could have been used for gold - or plutonium (Considering it was super expensive back in the day). Sadly we do not have the combination to that safe, and there is no way to get it open; it was designed to directly withstand a nuclear blast.
I'll try and find a photo of the small safe tonight.
Can the County be sued for the costs related to their unwillingness to grant the deed as required by law? They are aware of the risk. All of the decisions are being dictated by county lawyers who advise the county. We are now facing more legal costs, and more court time than is necessary. How lawyers could advise to go to court and drag this out for months and get paid more in the process is really surprising. Oh wait, that makes perfect sense.
How lawyers could advise to go to court and drag this out for months. The legal strategy could be to simply wear you down until you can't afford it any more. A win by deeper pockets, rather than a legal victory in a court room. You could be right. After getting my first legal bill we are starting to consider fund raising options to fight the battle. Our next court date is October 17th. We are planning to do another update on save the bunker later today. Right now there are tours coming through the bunker.
consider fund raising options. While it's privately owned, the spirit here is not really one of pure capitalism. Just trying to do something that is worthy of a place like this.
Why would anyone fund your private business? You stated no tours and that you will be using it for data centers ect? Also as far as funding goes, there is always investors. Though the owner has not entered into any agreements with several parties who have expressed interest.
Just trying to do something that is worthy of a place like this. Like "data centers"? The data center portion only makes up a small part of the operations we plan here.
Every "operation" you listed is for profit and NOT related to fallout shelter, cold war, history ect. What exactly is the "worthy" part? As mentioned in another thread, not all plans are being publicly disclosed, and some cannot be discussed due to non-disclosures.
Though I don't know how much profit there is in renewable energy research.
I thought there was another Diefenbunker in Ottawa? I visited it in highschool and it seemed pretty cool, I thought it was also a cold war era nuclear shelter? Yep, the main Diefenbunker is in Ottawa. It is a four story bunker, almost double the size of the one we have down here. The biggest difference between the two, is that we were classified as only a provincial emergency government headquarters. And in that respect, it's the last running privately owned provincial shelter.
Yes, that was a head quarters bunker. Besides that one, there were six other regional operation centers (ROCs). We are the only one that is left. All others have be 'decommissioned' in one form or another.
Was there ever one out west, in BC or AB? I know Dief the Chief didn't spend much time out here. Yes there was. BC had one in Camp Nanaimo, and Albert had one out in Penhold. They were all pretty geographically diverse.
Is it cool down there? Yes, it tends to stay cool. Heating it takes extraordinary amounts of fuel from the boiler. However, it never goes below 48 degrees due to the geo-thermal effect of the structure.
Ha. I mean is it very interesting to be down there? I've always wanted to see a cold war bunker. Thanks anyway. The reality of Cold War sets in when you see all the preparation they put into trying to save lives if the nukes ever did launch.
Wait what? -48? Celcius? About 9 degrees Celsius. Cold but not frozen.
What's the most interesting thing you found down there? The blueprints have been fun, but we keep finding paper clippings and full papers from the 1960s that were interesting to read. Back then a paper cost 6 cents, and was a much thicker quality.
Do you ever feel that your employers may have a REASON other then superstition for buying an old nuclear war shelter? The owner seems pretty straight forward. Being a Baha'i, he seems to have a pretty positive outlook on the future. No idea what other REASON you might be referring to. Care to elaborate?
If Hollywood movies taught me anything, it's that people who buy cold war complexes are always some sort of supervillain. Did he ever ask you things like "hmm, do you think the power system could be modified to feed a 1 terawatt deathray?" Umm.. he did ask about fresnel lens. Should I be worried?
I know this might sound a little far fetched but I once heard that there was a fallout bunker somewhere in Alberta that the Hells Angels had been using for large grow operations, do you think this is true? Actually not far from what happened! Someone else posted a link to that story. Might be part of why we are the last ones standing. Guess nobody has anything to worry from a Baha'i in control of a bunker. :P.
When we are sure you are all in there, we will seal it up from the outside. We are a lot of things, but not hippies I assure you.
Is it dangerous? Is there possibly any radiation or any harmful materials in the bunker? It was designed as a fallout shelter, not as a nuke silo. So there are no dangerous radiation materials here other than some very small samples that were used to calibrate radiation sensors. Your microwave is more dangerous than those. Environment Canada did a test on air quality in here back in 2006 and they determined the air in here was actually more clean than outside. Fun fact, the bunker only requires 1% of outside air to remain breathable for its denizens inside.
Any problems you ran into right away? First problem was getting power going. Breakers require a 24v charge in order to hold supply. All the batteries in the place were dead. With the help of someone who used to work at the bunker when the military ran it we were able to get it up and running again. The moment power came on the first system to fire up was the compressor for the pneumatic systems and wow was it loud. We then had to turn our attention to that system right away because it had not been maintained properly.
What was up with the pneumatics? The pneumatic pressure from the compressor was completely off from where it needed to be according to the military helper. The compressor itself had about 2 gallons of water removed from its tanks. Once we got the proper pressure going all the sensors and readouts of the various controls started to work. Well, not all. Many had been disabled, mangled, or needing repair.
What about the Diefenbunker in Carp, Ontario? That's our brother from another mother.
But, you said that the one where you work is the only one of its type in Canada in the title. How is this one in Nova Scotia different from the one in Carp? This is a ROC, Carp is an HQ. This one is about half the size of Carp.
The one in Carp is a museum now. I live right near it, if you live around it too you should definitely check it out! We are planning a visit soon actually.
Is this part of the Dharma Initiative? Not that I am aware of. There might be an opportunity for it though.
Electrical engineer and cold war historian, here. First off, nice facility! Any chance you could post more pictures of the bunker's control monitoring switchboard (the one your standing behind in your picture)? I'm interested in comparing to what I've seen in US installations. Also, are you keeping those awesome GE switchboard meters or going digital? We like the analog of it all. We have more picture on our facebook page. We will have it all interface to a network eventually so that we can control systems from our Galaxy Tabs.
You should make a video detailing how you operate the bunker with modern software -- using tablets for that sort of stuff is definitely really interesting but I imagine if you're not careful with network access it could be really dangerous. Yes security is top priority.
I don't know if this has been asked, but what is the "frame" made of? How thick are the doors and walls? How do you deal with negative air pressure, or do you? Plumbing? Communications? Cellular signals? Source of outside water, purification? So many questions. 3 foot concrete covered in nearly 3 feet of earth. Building runs in a positive air pressure when handlers are operating. Currently two fiber links. Cellular dies after you come in. Dedicated well pumps in well houses provide all the water to the facility both domestic and cooling. Purification is done through a treatment process which we plan to update.
In the event of the apocalypse, can I take shelter with you? No you cannot. Security was mentioned earlier. However, opportunities for leasing space may come up. Interest in this is questionable though and we may not pursue it.
How many people can the bunker hold? The bunker was designed for 350 people to survive. Most would have been government, and some military. Sorry civilians and women, you lose! Yes, only women in the original plans for the bunker were the Premier and the Commanders secretaries. Remember this was the 60s.
Ha ha. You're marketing it TO the nut bars. Aware of that, just that once we get lumped in, there goes all possibilities of being taken seriously in every other sector.
You're already at risk of that with the current activities... Turning your hobby into a living is some people's idea of success! Haha.. I suppose. Running a bunker takes a lot of Benjamins.
Do you think that, in the event of a nuclear war, these bunkers would have done much help to the initial survivors in the long run? Yes. Eight years of engineering went into building this and other Diefenbunker facilities. These were designed for near miss scenarios. When fully operational with trained staff, this facility would have absolutely been able to operate for a sustained period of time in the event of fallout.
Were any of you alive during the Cold War and if so was it terrifying basically being trapped between the two superpowers? I mean in the event of a nuclear war essentially all their nukes would be flying over Canada airspace. No, all of us are younger than that. Though there are still many others who live around here who are ex-military who lived through it.
Ah you guys posted on Airsoft a few weeks ago. This will be an Airsoft site correct? Yes, we had a game a few weeks ago that was a hit. CQB Airsoft is one activity we have going on weekends here at present. It is only one of several things going on here. Thus why it is called a 'Complex'.
How much will it cost to visit? Right now for this weekend, we are having tours between 10AM and 2PM both today and tomorrow. Tours cost 15$, and are run by the Debert Military Museum (Link to www.facebook.com) We will be running airsoft games almost every weekend, with some incredible missle launch and bomb props that we are working on. Tickets for the airsoft games usually run around 25$. Come on down! (This may be the last time that tours are run here because of security issues.)
Tours are going on right now as a fund raiser for the Debert Military Museum. Tickets are $15 for adults, ages 4-12 half price, and under 4 free. Another tour happening tomorrow, and then another weekend in August 17 18th weekend.
Sorry if its a stupid question, I saw it on /airsoft that someone was restoring/using a bunker for an airsoft field? Is that you guys? I imagine bunkers aren't very common. Yes, that is us.
No way, I was just reading about this place last night! No way, I was just replying to another post about the movie that was done here! :)
I was wondering, how do you handle air quality? CFS Carp has an active system I think, but that's a bigger place. If you were to just leave everything off, would you run out of air? CFS Carp had a modern system installed, where we have all original. If you leave everything off, you can still breath, but then you start to get a lot of mold.
, did you get paid for the usage in that recent movie (forgot the title, something about nukes)? Either way, you should try to get some film makers as contacts in the future :) That low budget film was very low budget, and what we got out of it was mega small. We were just happy to help out, and maybe just maybe other better offers might come along.
Have you ever played Fallout? No, no time for games when we got a bunker to revitalize.
What would you consider airsoft then? Just asking... We run the games, we don't play them.
Could this also withstand a zombie apocalypse? Yes, it is built for biological fallout as well.
How does that facility compare to Cheyenne Mountain in Colorado Springs? This facility used to communicate with Cheyenne Mountain. Compare? Well, we got Maple Syrup.. case closed.
Why? Why not?
Serious question: what is the weird capitalization in the title? Why do it in the first place? Why isn't "a" and "of" capitalized but "in" is? The guy that started this already left. Wish I knew. I am going to call sleep deprivation. He had not slept in about 30 hours. We lose track of time in the bunker.
This is so incredibly interesting. I just looked through each photo on Facebook and every video on YouTube. I would love to be a part of that, you all are really fortunate. Question(s): Do you or have you slept at the bunker? Ghosts? What's the wierdest thing you've found in the netherbelly of the beast? Justin here, I just woke up from having a nap in the quarters we have set up. I , and some of the other volunteers, pulled an all nighter getting things ready for the tours today. I can't say there are any ghosts yet. But I do hear strange noises from time to time so its hard to say. As for the weirdest thing? A rather dark and eccentric artist used to stay here... so I'll give you the top three...
Are you saying that there was a ball pit in the bunker? And are you also saying that you removed said balls from the ball pit? Also, excellent work restoring all of that ancient equipment. That's a noteworthy accomplishment. Pat yourself on the back for me? Would not call it a pit. They choose to take the Lieutenant Commanders office and fill it with those balls along with the dead cafe. Then put a dramatic blue light on it.
Weird. The previous owners sound quite... I don't know... self-righteous? Maybe I'm garnering something different from your posts and videos, but there just seems to be a lot of neglect and lack of care, and it seems like it would stem from owners that are in the business for the wrong reason. We try not to talk the previous owner down, however the evidence does speak for itself.
In the Diefenbunker, we heard about a farmer out west who bought a bunker for $1 from the government and then was in talks to sell it to some bikers.. So the gvt bought it back (at more than a buck) and back-filled it with concrete. I thought the same fate happened to all remaining bunkers. How did the Debert bunker survive, and what is stopping your group from entertaining a future offer from a criminal enterprise? Only God knows how it survived. The owner is a Baha'i, he has no such interests. His God stops him from doing that I guess you could say.
Is it really worth saving something because it is one of a kind? Is there any real historical significance other than its a nuke bunker? Yes it is. Yes it is a direct link to the Cold War era. An era where humanity almost destroyed itself. A point in time where people built things like this out of fear of the future instead of hope.
Will you guys actually actually one day show us the inside of the massive water tank? I was rather sad hat we did not get to see the inside. We still have work to do on the sensor array in there and we do have to do maintenance, so yes, maybe one day.
Restoring cold war bunker. What do you know that we don't?!!?!?!?!? Perhaps that military build these things with overkill?
Who would they figure would hang out there in case Debert was bombed? And how is this diefenbunker different than, say the diefenbunker in Carp, Ontario? This Diefenbunker is a ROC, while CARP is a HQ. Otherwise they are identical except for the fact that this one is half the size.
There is a decommissioned diefenbunker in my town. I've been told they are a nightmare of asbestos was the reason they were shut down. Is the one you're working on any worse then your average 1960's building in terms of it or other hazards? That is not the reason they were shut down. Back in the 80s the DND undertook and extensive asbestos remediation program. In that, they eliminated all the dangerous asbestos, and left what was not hazardous. There are still fire-boards, and asbestos floor tiles as well as insulated pipes. We have plans to eventually remove them all, even though they pose no hazard, it is likely going to be necessary eventually with the changing standards.
I remember reading about the Diefenbunker when I did a report on Canada's involvement in the cold war in grade 12. is it classified as a heritage site these days? Carp is, but this facility did not qualify for historical protection due to lack of interest a number of years ago. Petition was attempted, but not enough love.
I'm 15 and from Ottawa, I never heard the whole story of the Diefenbunker. How does it go? If you google Diefenbunker you will find a lot. To make it simple though, Diefenbunkers are a series of bunkers that were commissioned by Prime Minster Diefenbaker back in the 1950s during the Cold War Missile Crises.
ARPANET Interesting question. No, there was never any ARPANET operations here. ARPANET never made its way here. It was quite popular in the US back in its day though.
I've been to the Bunker in Debert. It's really cool! Are banks still storing information there now that you guys are doing the full restoration, or have you guys gotten rid of the server hosting side of it? Banks were never storing information here. Sorry you were mislead. However, we are working on making it a functional data center that will be fully managed.
Weird, I could have sworn that they had active servers that were cooled by a water source? Maybe someone was messing with me. If by active you mean turned on so that pretty lights appear on server boxes, then yes there were. The node does have 3 very old chillers that do use water for a cooling source, however, they are not functional at present, nor have they been since the 90s. Servers were there, but as noted, no bank transactions were ever done in there. It is likely someone was messing with you.
Didn't some crazy old motherfucker own it for 2012? Since the current owner is not a crazy old motherfucker, we will have to say yes.
What is the average temperature inside the bunker? During the summer it usually stays around 65F. In the winter it goes no lower than 48F.
I was going to ask why if you're Canadian you keep saying your temps in Fahrenheit, but then I realized all of the instrumentation you'd be reading off would be pre-metric switch. Then I googled the conversion. 65F = 18.33C. 48F = 8.88C. Correct. :)
Any and all of your responses and official documents should be in metric, particularly if you want to be taken seriously as a Canadian heritage site and not confuse people. Skip the miles and oF. Note that the era this place was built in did not use the metric system. All of our gauges and readouts are in gallons and in Fahrenheit, so we are giving it to you like we get it. Sorry if our history offends your modern metric sensibility. We struggle with it here too. I would image most people who worked here could covert everything in their head as quickly as they read it.
Also a fun fact.. when the bunker was built, the 'official' flag of Canada as you know it today, did not exist. We still have an original flag from pre 1965. Note this place was officially commissioned in 1964, so it used to use the old red duster also called the Red Ensign for the national flag. Maple leaf didn't come in till after 1965.
So with all this in mind, I hope you can take our responses seriously. :)
Last updated: 2013-07-31 16:19 UTC
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