BIP-101 Syndicate Shares Fiat Ties, Opposition to Actual Bitcoin

Upon a Crunchbase investigation of the companies attached to the open letter (text) published on's blog supporting BIP-101, a correlation arose that indicates these companies have most likely been compromised for some time. All of these companies who have been known to employ heavy KYC terms, are heavily funded by fiat institutions that want to pervert Bitcoin. Continue reading

Small Mining Firm Takes Regulatory Compliance Pill, Moves to the Dark Side

A small mining firm referring to itself as HashingSpace Corporation has pushed out a press release bragging that they have retained the services of IdentityMind Global to implement anti money laundering, know your customer, and other criminal regulatory services antithetical to Bitcoin. IdentityMind Global claims to have relationships with "more than 40" "virtual currency businesses" most of which serve as interfaces between fiat currency and Bitcoin. HashingSpace professes to primarily be a mining and miner hosting operation that also just happens to provide other services like a "wallet" and Bitcoin ATMs. On social media earlier this summer HashingSpace has claimed to possess 5 petahashes of mining hardware, an amount eerily similar to that claimed by GAW Miners before their collapse.

Teenager Receives Eleven Years Prison, Lifetime Supervision In Exchange For Guilty Plea

Former Coin Brief author Ali Shukri Amin, who pleaded guilty to a charge of "conspiring to provide material support to terrorists" in June of this year has been sentenced by U.S. District Judge Claude M. Hilton to a period of 11 years in prison. In addition to his prison sentence, the 17 year old will face a lifetime of supervised release with added redundancy in the form of monitoring any of his future internet activity.

Speaking to Amin's sentence, U.S. Attorney for the Eastern District of Virginia Dana J. Boente remarked: Continue reading

Surviving a Transaction Flood

As populist noisemakers continue to push for blocksize inflation and services set to benefit from forcing users off of full nodes announce "stress tests" composed of transaction floods, the issue of making sure your transactions propagate with timely confirmations and your node stays online come to the forefront. Thankfully there are measures that can be taken now to which can provide benefits during a transaction flood and as fuller blocks becomes a more normal state for the Bitcoin network. Continue reading

Many Pools Rejecting XT in Favor of Other Undefined Fork

A handful of large mining pools including those operated by BTCChina and Bitfury have rejected Mike Hearn and Gavin Andressen's XTCoin proposal in favor of a different forking change which would leave them still more influence on their forked blockchain. The pools currently authoring blocks which support the proposal known as BIP 100 currently compromise a bit more than 50% of the hashrate, an amount which if BIP 100 actually had any working implementations would be insufficient to trigger a switch without an attack orphaning all blocks without a "triggering" vote.

At the moment BIP 100 exists as a proposal requesting comments, so it is not possible at the time of this writing to describe any of its points with certainty beyond votes for it being a clear repudiation of the XT effort. As BIP 100 exists now it preserves the 32 MB maximum message size as a hard explicit limit which the blocksize limit must stay under on a BIP 100 forked chain. With so many particulars of BIP 100 not being set in stone yet, it is not unlikely that support for it may wane though at the moment support is likely to persist as a repudiation of the XT effort to hijack Bitcoin.

Trilema Publishes Bitcoin Competency Exam

Qntra earlier reported on the deficiencies of the CryptoCurrency Certification Consortium (C4) operated by the good friends of Vitalik Buterin of Ethereum infamy. The lunacy of the certifications inspired Mircea Popescu to create a superior alternative. Trilema has published a system for scoring one's basic comprehension of Bitcoin called the Basic Bitcoin Competency Certification. Continue reading

Agora Marketplace Suspends Operations Citing Potential Tor Attack

Concerns about Tor security are cited by the Agora Marketplace as the reason behind their recent decision to suspend service. According to the Agora administrator research into deanonymization attacks as well as suspicious activity are prompting them to move servers as a temporary mitigating measure with a rewrite of their entire software stack being necessary. They encourage users of their platform to withdraw funds at the first possible opportunity. Their full announcement is reproduced below. Users are encouraged to validate the below text against public keys of known vintage. Continue reading

British 'Cultural' Capital Controls Interfere With Commerce

CNN reports that government of the United Kingdom is forbidding a buyer who paid 146,500 pounds formerly known as sterling for a watercolor painting from taking it to his home (archived) outside of Britain. According to the Kingdom's government it hopes that the ban will encourage the buyer, who purchased the piece as the highest bidder at Christie's auction house would make the decision to sell the painting on to a buyer intending to keep the watercolor in the United Kingdom. This is in spite of the fact that no such buyer for the artwork was interested in outbidding the actual purchaser in an auction. The export ban was put into place by Culture Minister Ed Vaizey. Continue reading

Concerns for the Toomim Brothers Mining

BIP-101 requires 750 of the last 1000 consecutive blocks to have a version bits set to 0x20000007 in hex to trigger a hard fork to remove the block size limit. Qntra recently published an article indicating the negligible miner support for XT, of which Jonathan Toomim commented the brothers' mining initiative would be supporting BIP-101 with blocks they solve. This lead into a brief investigation of the Toomim brothers who use GPG, yet are not in the Web of Trust. Continue reading