Breaking Theymos - all you have to do is to follow the money
I know, you guys are tired of hearing about theymos, but the only way to get him removed from power is to prove that he broke some rules and have proof to back it up. Some of you have some real time on your hands. You should use it more wisely. There is something called the blockchain, it's a global public ledger, so where theymos thought he was being slick, he really wasn't, and all his misappropriation of funds over the years is going to catch up with him. All you need to do is spend a little time following the money bitcoins and then connecting the dots. Then show the proof to reddit admins or heck, just show it to the police, he is in the states, and voila, no more theymos. Let's take an example and walk through it.
the internet doesn't lie https://web.archive.org/web/20130312110028/http://www.reddit.com/Bitcoin/ using the wayback machine, we can see that theymos setup an "ad campaign" collecting user funds on reddit saying "Bitcoins sent here will eventually be used for a Reddit advertising campaign with the goal of promoting Bitcoin and /Bitcoin: 16KaCJB7fVuT6hvA7wzgzVjAnHz28bNvvh" is this even allowed?, probably, let's not nitpick and continue on....
theres lots of little tx's here and there but alas, what is this, we see on 2011-10-24 he sent himself (bitcointalk forums) money for $12.88, three months after the address was setup.
before we move on, remember, this is for "ads only" which is for reddit ads or bitcointalk ads (but one could have presumed the ads on reddit were for reddit ads only but its unclear from the wayback machine if it was for both or just reddit)
now knowing he is sending money to himself and comingling funds (a big no-no), we can look at what he is doing with the bitcointalk address.
we can see that the transactions from blockchain.info and walletexplorer match, except walletexplorer is cool cause it does this awesome labeling technique overtime. we can see on the left is the received / and on the right is the sent columns
from this address 17RTTUAiiPqUTKtEggJPec8RxLMi2n9EZ9 using walletexplorer we can see that funds were sent all over the place - is all this for reddit advertising you are probably asking yourself??? let's continue digging.....
theymos sent money to bitstamp (they don't do reddit ads, coinbase does though!), sent money to bitpay, mtgox, localbitcoins, btce, oh whats this, he even sent money to Silk Road!!!
theymos using the bitcointalk donation funds which were comingled with the reddit funds, sent 7.312 bitcoins to SR on 2013-07-21!! what was he doing with all that??
reddit ads campaign address 16KaCJB7fVuT6hvA7wzgzVjAnHz28bNvvh final balance: ZERO
bitcointalk address 17RTTUAiiPqUTKtEggJPec8RxLMi2n9EZ9 final balance: $3.38
WHERE DID ALL THE MONEY GO?????
I'm sure if you guys keep on digging you will keep on finding more, but those tidbits might be enough to send him away for what is called embezzlement! look it up, or at the very least, taking redditors money and misusing it for his own personal funds!!!
Questions about the BTC-e Situation and Possible Connection to Alphabay's Recent Demise? (Long post)
Foreword: I am a geek for all things hackebitcoin related drama. I think this stuff plays out like a soap opera and it's beautiful. It's due to the simple fact that the BTC community is made up of a diverse set of people: Hackers, Entrepreneurs, Nerds, Drug Dealers, Fraudsters, etc. So I think for historical purposes it is great to note all the events that happen during huge events like this, because should bitcoin take off, this will be stuff of the history books. So if you have any information to share, please do, and let's try to make archives of all information as websites come and go.
The recent BTC-e post by wizsec is a very big deal, possibly more than most people here realize. BTC-e was an integral part of the crypto trading industry. However, there is still a lot of missing information that greatly affects the narrative and I would like anyone to chime in with educated opinions.
So I have a couple questions about the role btc-e played in laundering funds in the past and what their involvement with the mtgox hack is.
What evidence do we have that Vinnik actually had direct knowledge of the source of the funds he was dealing with? I imagine it's possible that such a large deposit into his exchange would lead him to move them in a manual manner. Obviously he would make a connection on his own due to the size and timing of the deposits, but there is a significant difference between direct involvement and knowledge in the laundering of hacked funds and simply having them show up in your exchange.
The timing of alphabay's admin's arrest is suspect because of he was also Russian and(thanks monerofan33, i've been huffing freon since ab went down) I can imagine btc-e being used to launder alphabay's funds.
What role did btc-e play in the actual hacking of mtgox and other exchanges? Multiple posts by prominent members of the Bitcoin community state in no uncertain terms that btc-e hacked mtgox. Wizsec simply states involvement in laundering of the hacked funds, which is an important distiction. It's hard to imagine that btc-e was responsible for all the hackings, so I personally suspect btc-e's activity to be limited to laundering. Perhaps the reason the funds ended up in Vinnek's non-excange  related addresses is because he traded clean btc-e from btc-e deposits and then used the stolen funds in mass for himself.
EDIT NEW QUESTION: Was the seizure (link) legitimate? I read in a comment that the seizure page was only served to US ip's, is there any truth to that? The whois info was updated on the 28th and name server updated to 74-208-15-160.sinkhole.shadowserver.org which, according to this krebs article, is the same thing that happened to liberty reserve when it was shut down.
I had more questions ealier but I can't remember them at this time, so I'll edit this post as I remember them. If you have any questions you think should be displayed above, post the and I'll edit them in. I appreciate any input on this situation because I find it downright fascinating and I have the feeling it goes deeper than we think.
People are too lenient with Poloniex, this could end badly.
I remember thinking how the Mtgox spread didn't make any sense but nobody cared. I think this should have made us more careful about where we send our coins. But it has not. Companies that lack minimum transparency shouldn't get meaningful volumes. I'm not saying Poloniex is a ponzi or a con. But I would put them in that group with Btce that most people don't trust too much. And this would result in a catastrophe if things went wrong because they get way too much volume from the the btceth pair. Their business is very profitable but an exit scam is not the only risk. They could be the victim of heist.
Who are Poloniex owners ?
Their support is crazy slow (take days or weeks to get any answer)
They say they are a US company but there is little known about where they really are, their real address, their phone numbers. They have very little transparency.
They limit withdrawal in an annoying way with different compliance levels (it's a safety measure but at the same time, it makes it harder to get bitcoin out)
This is a company that is understaffed, not transparent and has already been hacked once. I had a >100 btc withdrawal stuck with them waiting for approval for more than 24hours not so long ago with no answer despite serveral attempts to contact them. Never got an answer at all from the compliance/ withdrawal limit guy on skype. And got an answer by email way too late. Cost me an arm as I got the money out in eth and had to convert it back in the middle of the crash. I guess they were refilling their hot wallet but it shouldn't take 24 hours and or at least they should make it known to you that they are refilling the wallet rather than leaving you in the dark. I don't cry over the loss because it made me realize how foolish I was to trust them and got all the btc I had deposited there for lending out. I would really like to see their btceth volume moving to Kraken or at least Bitfinex for peace of mind.
Every one think that people gonna take the moneys and coins out of exchange immediately ..... Yes that's right, 70% of people would move out immediately for their safety. and trade VOLUME will be weak on the exchange for a while... But wait ........ ********* If disaster doesn't kill you, Makes you STRONGER.********** People gonna stay away from exchange for a while and will watch it how its running, and slowly going to return back to the exchange as this exchange handled the huge disaster very well. Peoples money remains safe and that is the point that people going to trust them again. Remember : BTC-E.com is the oldest and safest exchange since 2011. it has a future that you don't need your ID card to use the exchange and that is the beauty of this exchange. Company worth Millions of dollar based on their income which is more than 1M per day in average. They will be back to normal volume after a month or two , even STRONGER than before. Also I'm pretty sure that admins and owner behind BTCE are smart enough to know every thing about this industry. and they know the REAL VALUE of the BTC-E brand in bitcoin market and they will not going to lose it as simple as that. DO NOT PANIC wait Patiently , Let them do their work, your money is safe and untouched. Help them to bring back up, BTC-E by not panicking. Note : They will lose much more money than YOU, if they don't bring it back up. It might take another week, Just be patient. UNTOUCHED BTC-E wallet address for Ethereum is : https://etherscan.io/address/0x91337a300e0361bddb2e377dd4e88ccb7796663d Join Telegram group for the latest Updates : btcecom_eng Leave your comments bellow and SHARE it with others
Timeline of my dealings with WEX and the ongoing theft of funds.
I placed a ticket with wex asking for my account to be unbanned as soon as the ticket system was up, this was around Sept 3rd I believe, I don’t know for sure because they have deleted my ticket. I do not have my replies because of this, only their replies which went to my e-mail.**
Fri 22/09/2017 8:29 PM Elon (WEX) [email protected] Subject: Account Banned Dear users! Please accept our sincere apologies for the delay. Verification on our platform for blocked users will be available next week. We will inform you personally when this procedure starts. We have launched the main service on time and this one will be launched on time too. We hope you will stay with us, despite the inconvenience. Thank you for your patience. Respectfully, WEX Support **A few days later, I am able to login to my account and see my BTC and USD balances reflected accurately, I cannot goto any other page on the site except for verification, every other click will redirect me to a message that I need to be verified. A couple weeks go by as I go through verification and wait it out, verification is passed, my account is unlocked and I discover my balances are zero and I have no account history. Also I notice my account is unlocked for withdraw, which doesn’t really matter at the moment because there is nothing to withdraw anyway.
I ask them whats up thinking it’s just some mistake.**
Wed 11/10/2017 7:15 PM WEX [email protected] Hello! We informed in the news that we don't possess historical data on transaction and orders of the old platform, that's why we cannot approve or deny your words about funds deposit. The funds were credited to the new platform WEX.nz in the amount shown in your profile. During the period after BTCE closing and before WEX opening, all transactions were fulfilled out of control of the old platform as well out of control of the new one. Здравствуйте! Мы сообщали в наших новостях, что не владеем историческими данными по транзакциям и ордерам старой площадки, поэтому подтвержить или опровернуть ваши слова о зачислении средств не можем. На новую площадку WEX.nz ваши средства зачислены только в том количестве, что отображены у вас в профиле. После закрытия BTCE и до открытия WEX все транзакции проходили вне контроля старой площадки и еще вне контроля новой.
I ask them how that is possible when everyone else seems to have access to their accounts with relevant balances (approx. 61% + tokens) and my significant account is at dead zero with no explanation.
Vladimir (WEX) [email protected] Mon 16/10/2017 9:45 AM Hello! Dear User! Payment operations for deposit and withdrawal of fiat funds are supported not by the btc-e platform, but by a third-party payment company, which means that the funds were not received directly from you, but by placing them on deposit accounts of this third party company. Btc-e exchange was in fact only the place of the auction. In this regard, we ask you to contact the payment company directly for processing the return of your money transfers.You can submit your request for return of a transfer without registration by clicking on the link https://support.moneypolo.com/tickets/new Best Regards, WEX Support Knowledge Base https://wex.kayako.com I will note that I have never deposited or withdrawn fiat, and have never used moneypolo at all. I explain that this has nothing to do with fiat transfers in limbo or some such answer. Vladimir (WEX) [email protected] Tue 17/10/2017 9:25 AM Hello! We informed in the news that we don't possess historical data on transactions and orders of the old platform, that's why we cannot approve or deny your words about funds deposit. The funds were credited to the new platform WEX.nz in the amount shown in your profile. During the period after BTCE closing and before WEX opening, all transactions were fulfilled out of control of the old platform as well out of control of the new one. Best Regards, WEX Support Knowledge Base https://wex.kayako.com I reiterate that I most definitely had a significant balance and it is now missing and provide the amounts that are missing. Vladimir (WEX) [email protected] Fri 20/10/2017 5:51 AM Dear Customer, Thank you for contacting WEX. Please specify provide us with the detailed information on transactions and balances and provide any other data that can help understand the situation as soon as possible. If you have further questions, do not hesitate to contact us again. Best Regards, WEX Support Knowledge Base https://wex.kayako.com I ask them specifically what they are looking for. Vladimir (WEX) [email protected] Wed 25/10/2017 9:05 AM screenshots from the mail, screenshots from payment systems, a screenshot from the wallet from which you make deposits or other confirmation. Best Regards, WEX Support Knowledge Base https://wex.kayako.com I send them screenshots from a bitcoin core wallet I used with btc-e. Vladimir (WEX) [email protected] Fri 27/10/2017 2:30 AM Unfortunately, this is not enough, they are not informative. Best Regards, WEX Support Knowledge Base https://wex.kayako.com Vladimir (WEX) [email protected] Fri 27/10/2017 2:31 AM The addresses of the purses must be indicated on each transaction Best Regards, WEX Support Knowledge Base https://wex.kayako.com I send them the addresses that appear in the screenshot, (I had labels in the bitcoin wallet for these transactions), between the screenshot and the address I provided and a two second look at the blockchain it can be easily verified. I also offer to sign with the keys on these addresses which I still control. Vladimir (WEX) [email protected] Tue 31/10/2017 2:25 AM The addresses of the purses should be visible in the screenshots Best Regards, WEX Support Knowledge Base https://wex.kayako.com I ask them if I remove the labels and re-send the screenshot will they finally restore my account. Vladimir (WEX) [email protected] Tue 31/10/2017 2:30 AM We will restore your account as soon as you provide confirmation of your transactions with btc-e Best Regards, WEX Support Knowledge Base https://wex.kayako.com
I remove the labels and re-send the screenshot they have requested. Notice they have indicated they will (can) restore my account.
Vladimir (WEX) [email protected] Tue 31/10/2017 4:08 AM Account unlocked Best Regards, WEX Support Knowledge Base https://wex.kayako.com I login to my account again, still no balances or history, but I notice I can withdraw now (great, theres still nothing to withdraw!) I ask them again what’s going on, and now a different person answers me. Admin (WEX) [email protected] Tue 31/10/2017 2:10 PM Hello! Thank you for contacting the WEX Exchange Support Service. We do not have data on deposits and deductions from the previous site only on current balances. If you have any further questions, please feel free to contact us. Yours faithfully, WEX Support
**I ask them how it could be when 10’s of thousands of other users have history and can get into their account just fine with 61% of their balance and tokens etc. This is met with no reply, a deletion of my ticket, and no further responses to another ticket I lodged. This is where it stands today. **
A little late, but as promised here is Part 2 of the Beginner’s Guide to Exchanges. I would like to sincerely thank everyone for their support and feedback in making these. Link to Part 1 This time I also made a Google Docs survey in the hopes of sharing the results with the community. I thought we could share what we use as a whole and why redditors choose the exchanges they do. For skeptics (as you all should be), I assure you that I am not collecting personal information. This is for recreation and if you are still wary, then by all means abstain! Link to Survey In Part 3 I will be wrapping up this series by covering decentralized, semi-decentralized, and derivative exchanges. Here it goes!
00 – Concepts and Definitions (Continued)
What is FinCEN? This is an agency within the US Dept. of Treasury that collects and analyzes information about financial transactions. It is meant to prevent financial crimes and money laundering both by businesses and individuals. In 2011, FinCEN defined digital currencies as fiat and started cracking down on those in the crypto world. Since then, every exchange serving US citizens has been trying comply with regulations otherwise they face severe penalties. Thank them when exchanges as for your Address and an ID.
What is the ICO (UK Regulatory Body)? This stands for the Information Commissioner’s Office and it is the UK counterpart to FinCEN - a regulatory office that reports directly to Parliament. ICO oversees compliance of the Data Protection and Freedom of Information Acts. It is meant to help companies and individuals keep their private information private, and can enforce this with penalties up to £500,000 when personal information is recklessly stored or leaked.
What is APR? Stands for Annual Percentage Rate.
What is Arbitrage? Arbitrage trading means to take advantage of price differences between markets. For example, say Poloniex lists ETH at $400, while Kraken lists it at $500. Buy low at Poloniex and then sell high on Kraken and you just made yourself a hundred bucks. Simple!
What is a Coinswap/Crypto-converter? Basically, a coinswap is a broker. If liken an exchange to a marketplace where buyers and sellers meet to agree on a price, then a Coinswap is a person who goes to the market on your behalf. Give them what you want to sell, and they will come back with what you want to buy. They take a small commission, give you a fair market rate (or close to it), and sometimes don’t even ask for your identity. Coinswaps are popular because they are convenient and offer coin pairs that exchanges sometimes cannot.
Overview: Founded in late 2013 by Gerald Cotton in Vancouver, Quadriga should be a source of national pride. While 4 major Canadian exchanges suddenly closed between 2015 and 2016, Quadriga survived. Then In 2015, Quadriga became the first exchange to attempt being listed publicly by enrolling for enlistment on the Canadian Stock Exchange (CSE). However, it ultimately failed to do so after being confronted with restrictions and regulations.
Withdrawal/Deposit Fees: Low deposit and withdrawal fees in comparison to other exchanges. A little unorganized on their official site
Linked Bank Transfer
Deposit 1%/ Withdraw Free
Free (Withdraw Only)
1% (Withdraw Only)
Free (Withdraw Only)
Security: Quadriga was quite notably lost of 67,000 ETH earlier this month, after an expensive mistake involving the Geth 1.5.9 upgrade. Apparently, outgoing addresses were incorrectly entered without 0x at the beginning of addresses and the sent ETH became trapped. Yet Quadriga has taken full responsibility and reassured customers that it will not affect their accounts.
Google Authenticator or Email 2FA Available
Undisclosed amount of funds in cold storage
3rd Party Security provided by CloudFlare
Expired $50 bounties
Verification: Quadriga CX enables alternative instant verification with an Equifax Credit Score Report.
Digital only, Limits Vary
Customer Service: Negative reviews are hard to come by, but perhaps that is due to the smaller size of this exchange. The FAQ is a little disorganized with a lack of tabs or categories on the site. However, support offers a direct phone line and email support. Also u/QuadrigaCX seems very active and responsive in the Bitcoin CA subreddit.
Bottom Line: The handling of the ETH loss was handled professionally and quickly. And as a Canadian, lower deposit and withdraw fees are probably impossible to find somewhere else. Trading fees are a little high, but that is the trade off. It seems they have weathered some ugly storms other Canadian exchanges could not and are a trustworthy exchange going into the future.
05 – Fiat Exchanges – Europe
Overview: CEX.io is started in London in 2013 both as an exchange and a cloud mining provider with its acquisition of Ghash.io. In 2014, Ghash was the largest Bitcoin mining pool contributing to over 42% of the mining power and mining over $200 million in BTC. In October of 2014 Ghash closed yet CEX.io lived on as an exchange.
Verification: With a lot of backlash from the Bitcoin community, CEX has registered with FinCEN and ICO in the UK, while also implementing Anti-Money Laundering (AML) and Know-your-Customer (KYC) policies. Once these policies came into effect and ID verification was requested, many original Ghash users abandoned the exchange. Exchange allows for linking of Facebook and Google+ accounts. Not a good option IMO.
ID + Photo
$10,000 Daily/$100,000 Monthly
Customer Service: Customer complain are abound here, and for justified reasons with hidden deposit and withdrawal fees. However it seems the company is quick about inquiries and verification, stating that most inquiries are filled in 24 hours. The FAQ is comprehensive which you should come to expect from established exchanges. Despite some unhappy customers, tt is good to see that they care about their reputation and their product.
Bottom Line: If you are already invested in crypto, CEX.io has some of the lowest trading fees in the game. However, they are clearly taking advantage of inexperienced users and those looking to exchange fiat for the first time. When purchasing with their FOK buying service (using instant credit card transactions), not only is the buy rate not at market price, but a 7% fee is added. This is price-gouging, this is FOK-ing unreasonable. I understand that this service offers something not found elsewhere, but additionally 1% crypto and $50 USD withdrawal fees makes these actions questionable if not just plain greedy.
BTC-E / XBTC-E
Overview: BTC-e is has been operating out of Russia since 2011 and provides language support in English, Chinese, and Russian. Perhaps due to this flexibility, it has high volumes of BTC, LTC, and ETH. It has an unclear connection to xBTCe, but both link to each other in the FAQ of the respective sites. A feature that is provided by BTC-e not seen elsewhere is software for trading called MetaTrader 4. This software seems a little clunky, but includes some TA features.
Security: BTC-e was hacked way back in 2013/2014 and reportedly $35,000 of BTC was stolen. Since then it has had a relatively clean record. This Digiconomist review is a thorough and detailed read, but unsure.
Google Authenticator Available
Must be changed every 6 months
3rd Party Security Services provided by CloudFlare
Verification: Since late May, there have been a shit storm of reports claiming BTC-e is locking funds for previously unverified users. In the FAQ users are asked to register at XBTC-e and within 10 days the account will be unblocked. It is unclear how the websites are connected or related to each other and 10 days is eons in crypto time.
No Stated Limits
Customer Service: Live Chat is supported during operating hours and the FAQ is listed in Russian and English. Resources are a little unorganized, but complete none-the-less. Bad reviews and complaints are plentiful with the long history of the exchange and the recent troubles with account verification for some long time users.
Bottom Line: I’ve got to be honest that I personally despise the interface at these 2 sites. Both give Yahoo! GeoCities and the original SpaceJam website a run for their money in terms of web design. Perhaps it makes up for it with some free TA software and a large daily volume. But it comes to say that the longevity of this exchange is its biggest strength.
Overview: Liqui is based out of Kiev, Ukraine. As a digital exchange, it does not support fiat currencies and is competing with the likes of Bittrex and Poloniex as it lists dozens of altcoins. The feature that differentiates Liqui is its ‘Interest’ feature which was introduced to increase traffic and volume to the newer exchange. It works similarly to depositing money into a savings account - deposit ETH into an account and earn 24% APR (or .066% daily interest) which is deposited every 24 hours. There is some fine print about deposit limits and interest calculations, but how it is presented is clear and straightforward. Unfortunately the limit of 1000 ETH needed by Liqui is currently full, so you will need to wait until others withdraw ETH or the limit is increased to participate.
Verification: There are no deposit/withdrawal limits and no verification levels. In order to start trading, all that is needed is an email address.
Customer Service: Searching for user reviews shows mixed results about Liqui’s customer service. The fact that it supported on several platforms, is reassuring. Contact Support@liqui.freshdesk.comBy Twitter@Liqui_ExchangeBy Telegram@Liqui
Bottom Line: The design and simplicity of Liqui stands out in my opinion. It is like what Poloniex could be if they just cleaned the UI/UX a bit. I like that it immediately gets into the trading charts without having to click around and if you miss the trollbox then this is your site. Like other smaller exchanges there are doubts over the reputation and reliability due to the opaque nature of the operations and development team. If you are looking for an alternative to Bittrex or Poloniex, this exchange may be worth investigating.
06 – Fiat Exchanges – South Korea
안녕하세요 여러분! 혹시 우리 한국인 친구 이 보고서를 한국어로 읽고 싶어한다면 알려주세요. 관심이 많이 있다면 간단한 한국어 보고서도 만들 수 있습니다. This year, ETH has taken off like a rocket in the Land of the Morning Calm. With a population of just 50 million, South Koreans account for almost 30% of daily ETH trade volume. Even more surprising is that currently the daily volume of ETH is about 5 times higher than that of Bitcoin on Korean exchanges. Since demand is high, ETH is trading at a premium on Korean exchanges. Some users have been talking about capitalizing off this imbalance by trading on arbitrage between exchanges. For those who have no connection to Korea and hope to do so, I have bad news – all Korean exchanges require a National ID number and access to a Korean bank account. This makes Korean exchanges virtually closed to Korean nationals and those with long-term visas. Sorry everyone.
Overview: Bithumb has all the features of horrid Korean web design - pop-up ads, flashing side-banners, disorganized pull downs, links to cafes/blogs, and generic stock images with embedded text. You can’t even see the exchange before making an account with your email or mobile number. It does support 4 languages, but reveals only poor translation done by Google Translate. In the face of this, this exchange has been trading a daily volume only second to Poloniex. On the bright side, they have the unique options to buy gift certificates/vouchers and remit money overseas.
Overview: Coinone is the second largest Korean exchange, and its design is a breath of fresh air compared to its rival. It offers service in English and Korean and allows for the trading of Bitcoin, ETH, ETC, and Ripple. It has a very comprehensive chart that is highly customizable, but sadly is only gear towards BTC currently. This makes it perfect for margin trading, and in the future I hope they add ETH. They also offer overseas remittance through their service Cross. Coinone support seems above average in their customer service with a PDF guide and an unprecedented landline number for direct support.
Overview: As the smallest of the 3 Korean exchanges, Korbit benefits from its simplicity. It by far has the best design and English support with clear links to services - including remittance, global payment, and their company bio. Like CoinOne they offer a direct phone line for customer inquiries and an extensive FAQ in 2 languages. Similar to the other exchanges, it has insanely low fees for deposits and withdrawals. This is largely thanks to the Korean banking system where wire transfers and mobile banking are commonly used. I recommend anyone interested in Korean exchanges to start here as they also have a reddit presence on u/korbitBTC
With a great deal of anticipation, major Chinese exchanges started trading ETH this summer. Since these exchanges deal huge volumes of Bitcoin already, naturally it was expected that they invest heavily into ETH as well. So far this hasn’t quite lived up to the hype with many exchanges still favoring Bitcoin, Litecoin, Altcoins, and even Ethereum Classic (Gulp). Three of these exchanges underwent inspections by the Peoples Bank of China earlier this year and will be working closely with the government to ease fears of money laundering and market manipulation. There are a lot of Chinese sites, and since my Chinese is non-existent this list is basically just for name recognition. In many ways these sites are very similar in regards to security, verification, and fees compared to their western counterparts; just marketed at a different audience and currency. If users are seriously interested in these exchanges and making reviews, please contribute or ask!
Overview: Number one in Chinese ETH trading, currently overtaking the volume of exchanges like GDAX and Kraken. CoinOne is very accessible with a mobile app, PC trading software, live chat customer support, and wallet services. OK Coin has English for the basic interface, but no detailed information in the FAQ.
Overview: Second in Chinese ETH volume, Huobi mirrors its rival OKCoin in many ways. It has a solid interface, a mobile access, and even the same rumors of faking trading data! Huobi also started with the ambitious motive of having zero trading fees, only to introduce them in January of this year.
Overview: ShapeShift is the leading Coin-converter site and has been since 2014 when it was founded. With great effort put into to eliminating verification requirements and allowing for the exchange of dozens of altcoins, ShapeShift provides a relatively seamless and simple service. The big buttons and bright color scheme immediately differentiates it from other exchanges.
Trading Fees: From the website ShapeShift does not charge a specific fee. Instead, we offer an exchange rate for each coin which changes every 30 seconds with market conditions. We try to earn revenue by offering a profitable exchange rate, and typically we earn in the range of 0.5% (50 basis points). You receive exactly what the exchange rate shows, there is no additional fee (except the tiny miner fee). There are complaints about the fees not being calculated fairly, but no one is forcing any of these users to exchange at the unbalanced rate. Or you could just read what CEO u/evoorhees has to say about it over at the Ethereum subreddit.
Security: After losing $230,000 from a possible internal hack in 2016, ShapeShift contracted the Canadian Security firm LedgerLabs. Afterwards they permanently hired Michael Perklin as Chief Security Information Officer. ShapeShift claims the only information stored during exchanges is the logs of wallets and the transfers between them. This is protected by storing the data across servers in multiple countries with none based in the US.
Customer Service: Customer service is necessary for the inevitable ‘entered the wrong wallet address’ problem from new users. Along with complaints about slow transfers, a simpler platform does not exempt ShapeShift from dealing with tons of angry customers and their problems. I take many of the complaints about unfair exchange rates with a grain of salt, because the problem could have been avoided by the customer. It does seem however that ShapeShift is very responsive, with a presence on almost every social platform imaginable. Even right here on reddit at shapeshiftio
Bottom Line: Especially after the release PRISM, it is obvious that no one is better at simplifying than the ShapeShift team. In order for crypto trading to become mainstream, it need to be easy enough that your grandma could do it. Erik Voorhees understands better than anyone. Instead of being confronted by esoteric graphs, unfamiliar ticker symbols, and a list of registration requirements, ShapeShift differentiates itself from other exchanges in both its interface and ease of use.
Overview: Changelly is a prototype project that was created by developers associated with MinerGate 2013. It has a slightly less sleek interface than ShapeShift, but is still quite intuitive in terms of its pull down exchange bars and other information. Changelly offers Credit Card services like CEX.io, but the fees are currently so expensive that it is hardly worth it. Another downside is the recently introduced email requirement.
Trading Fees: 0.5% Commission Fee with .00042 ETH Network Fee.
Security: It offers 2FA with Google Authenticator and HTTPS protocol.
Verification: A confirmed email address is all that is needed to start trading. You could easily use a throwaway email if there are concerns over privacy. There are also links to your Google+ or Facebook Profile, which seems a little uneccessary.
Customer Service: Like ShapeShift, Changelly suffers in its reviews due to inexperienced users. Those using Credit Cards especially will feel ripped off despite a clear disclaimer stating that rates are high. They have an extensive FAQ, but do not appear to have a ticket system for complaints and their social media pages are more geared for press releases than support. Their subreddit is a similar story in changelly, but their support staff u/changelly_com runs circles trying to solve issues. Because of the honest effort, I believe they can do better and can improve.
Bottom Line: When it comes to criticisms of Changelly, the apple does not fall far from the tree with MinerGate. Users rightfully have some distrust about the lack of opacity in the management and operations of this exchange. I feel that they are more honest and fair in the Credit Card services than CEX.io, but still should cut the service as it generates a ton of bad experiences. If you are looking to convert coins, it seems to be an acceptable service, but some of the benefits are lost with having to verify an email address. In this way it is hard to compete with ShapeShift.
So I've been in the BTC space for awhile and have had active accounts on numerous exchanges - Bitstamp, BTCe, Kraken, Cryptsy, Poloniex, even Gox - and I have to say that never have been so frustrated simply trying to registeopen a BTC acct/wallet than on Coinbase Canada!! As part of the initial 5-step process you have to verify email, verify your phone via SMS, input personal details/address etc and 2 other steps that I haven't even been able to get to, one of which is apparently gov't issued ID verification - all of which is fine with me if any of it actually worked!!! Email and phone verified fine, then for some reason personal details would not update and so I could not complete registration - would not progress to ID verification. Managed to get to ID verification through their 'exchange' page, but there none of my ID would verify through the automated process - tried scanned and webcam photos of both gov't issued ID and also my passport. Finally, I tried to at least enable Google Authenticator 2FA so they would quit SMS'ing my phone after literally every change I tried to make which is also super annoying (have to have this on in order to enable google 2FA). Once again, could not get Google Authenticator to enable - would not accept either the authenticator code or the SMS code even after time syncing...seriously getting ridiculous. I have no idea what is wrong with their site right now but it's about the jankiest shit I've come across in the Bitcoin space thus far. I realize you don't have to enable 2FA and verify gov't ID, but the whole reason I want to open a Coinbase acct is to have increased limits to trade the BTC/CAD cross as it seems like they have decent liquidity for CAD. Anyway, I currently have 3 ongoing support tickets with them that have been little help thus far, and basically just felt like I needed to have a good rant about this ridiculously broken registration process. tl;dr avoid coinbase canada. **Update: -Google Authenticator code was finally accepted so this seems to be back online for the time being -Finally heard back from support on the ID > literally 2 lines explaining how my government issued Quebec ID card is apparently not a recognized form of ID by Coinbase!!?! Have now emailed them my passport copy and awaiting the next lines of BS from the completely impervious support. **Update 2: Wow. So here is the latest reply from 'support':
Anthony replied: Hi Chris, I’m very sorry for the difficulty, unfortunately we’re not able to manually mark the ID verification requirement on >your account as complete at this time. We’re working to update our ID verification system so that it can >accommodate a variety of methods, but it’s not yet possible for us to manually verify an ID in all cases. You can try uploading the image at https://www.coinbase.com/verifications/documents/new Please let me know if you have any questions! Warm regards
Are they for real!!?? They are literally telling me that not only is their website unable to verify my ID, they themselves are either unable or unwilling to verify it manually and I might as well just fuck off and go somewhere else...Wow. **Final Update - Issues Resolved: So after roughly a week of back and forth of frustrating emails that seemed to be getting nowhere (no phone support available) all registration issues have finally been resolved. Apparently there was a bug with the payment processor they use, which has now been fixed and my registration is now able to be completed. A bumpy start but hopefully things are smoother from here.
Another Bitcoin promotion and adaptation idea. Need discussion, opinions and support.
Hello Community, I apologize for some spelling mistakes and (maybe) misunderstanding. English is not my primary language. I'm thinking about write this or not for a few days. I can offer interesting idea about promotion and adaptation of bitcoin(BCH) for newbies, but unfortunately, I'm need some support, drive and stimulus. I'm owner of local communities at VK social network / VK = 14 place of top sites of the world by alexa: alexa.com/topsites / Communities are around ~43 000 and ~42 000 subscribers and with the same amount of unique visitors by month. Communities are about dating and fun, very popular. While it's "local area" communities, they have ~1th-2th place at the top communities at this this area. I consider them as a basis for the idea. But now, some words about social network: it's huge, very huge and most of the users are young people. 13 to 35 y.o. For the time being, they do not have large amount of money, they are schoolmates, most of them students who never used cryptocurrencies. I see in them potential to learn them how to use crypto and adoption. I can learn then where is true Bitcoin vs SegWitcoin, where/why is scamcoin or not. Believe me, I know how to explain and possess knowledge. I write much better in my native language. :) What I want to do? I want: * start Bitcoin community where the main cryptocurrency would be Bitcoin (BCH) with explanation why. Additionally, I plan to promote some alts like BitcoinZ which is true community currency like bitcoin at 2009 year. It will be easy to start for students with it. Because it not hard to mine with any GPU and no need to spend money at the point of start. It's easiest to start when you do not investing real money. * I'm already done some research and guess that it will be possible to develop analog of tippr or chantip bot for the whole VK social network. It will also request hosting and development time. What are the problems? I already had a lot of experience with communities like moderatoowneadministratopoint !!! : FidoNet, own local FTN network, own BBS, chats moderation, other communities and good experience at VK social network (now, own communities like I wrote before). And I'm web developer. Unfortunately, I'm not a big bitcoin holder. I come too late, because I expiry some life problems. Furthermore, I lost my bitcoins at 25 jun when BTCe went offline. At the time of action I was online and trade. When market go down before the site goes offline, I sell my low amount of bitcoins for USD to buy more at the bottom, because of that I lose 3/4 of bitcoins (if count at bitcoins). When BTCe recovered the price was completely different. And now I hold even smaller volume of Bitcoin (BCH) at my local wallet (yes, I do not trade anymore :) For this reason I do not want to invest my own BCH: I guess tippr analog will not be used widely at the social network (at least at the very beginning). I think about "analog of tippr" only like a tool for promotion BCH and new community at this point. For this reason, I will need to reward good users with BCH, which I do not have (because of this I'm looking to the second bot for BitcoinZ ) Therefore, I need funds for promo actions: some giveaways for reposts and other social promotion, maybe advertising. That's all I wanted to say. I do not claim to be invested, but I propose to discuss this topic. If someone is interested, then you can donate. If you want to donate more or less large amount of funds, then you can contact me directly at PM and I will show you with proof of ownership my communities. This in some way confirms the seriousness of intentions. But again, I'm not ready to start until I do not have confidence that this is a worthwhile activity. I know from my experience that without funding it's not possible to raise such a community to the level of independent survival. As alternative, I was thinking about launching my own coin for this project (analog of BitcoinZ). While it will be cheap or worthless it will be easier to integrate and take interest from newbies , but I do not want multiply entities. BCH is already better than the rest. Thanks if you read this (I guess) not easy readable text. My donation BCH address: 13jTszDd6UHwQrPeyUusZpN7E1dYK6Hvv8
This is the best tl;dr I could make, original reduced by 78%. (I'm a bot)
We won't beat around the bush with it: Vinnik is our chief suspect for involvement in the MtGox theft. In total some 300,000 BTC ended up on BTC-e, while other coins were deposited to other exchanges, including MtGox itself. Some of the funds moved to BTC-e seem to have moved straight to internal storage rather than customer deposit addresses, hinting at a relationship between Vinnik and BTC-e. The stolen MtGox coins were not the only stolen coins handled by Vinnik; coins stolen from Bitcoinica, Bitfloor and several other thefts from back in 2011 and 2012 were all laundered through the same wallets. Moving coins back onto MtGox was what let us identify Vinnik, as the MtGox accounts he used could be linked to his online identity "WME". Having identified the actual transactions for the bulk of the stolen MtGox bitcoins, we traced them and clustered all addresses involved, quickly finding that other stolen coins were making their way into the same wallets. As some coins were deposited back to MtGox, we could identify which accounts were used to receive them; two in particular were of interest, and were possible to link to the online identity "WME".
What Is Litecoin & Differences Between Litecoin And Bitcoin
What is Litecoin? Litecoin (LTC) is the second largest crypto currency only smaller than Bitcoin. Litecoin is the biggest of the so called altcoins and is similar to but with some distinct differences to Bitcoin (BTC). Litecoin was created by Charlie Lee, a former Google employee who goes by the screen name coblee, and was launched on October 7th 2011. LTC is similar to BTC in that it uses a proof of work blockchain, difficulty adjusts every 2016 blocks, and rewards half about every 4 years. LTC is different to BTC in that the LTC network aims to process blocks every 2.5 minutes compared to BTCs 10 minutes. This allows for faster confirmation times. LTC aims to produce 84 Million LTCs which is roughly 4 times as many coins as BTC will eventually produce. LTC uses an algorithm called Scrypt, and BTC uses SHA-256. Scrypt is roughly 1000 times slower than SHA256 which is why you see LTC mining speeds quoted in KH/s (Thousand hashes per second) vs BTCs MH/s (Million hashes per second). LTC was originally designed so that it could be easily mined on CPUs and be resistant to mining on GPUs. With ASICs (Application Specific Integrated Circuits) having taken over the BTC mining world, a common misconception is that Scrypt is ASIC proof. Scrypt is only ASIC resistant just as it was deigned to be GPU resistant. What this all means is that eventually LTC will be able to be mined with ASICs but the increase in speed is not going to be anywhere near what it was with BTC and SHA-256. This fact means that GPU mining will not be wiped out as it was with BTC. LTC uses addresses very similar to BTC addresses. They are a mix of 33 numbers and letters but always start with a L. LTC is often described LTC as silver to BTCs gold. While some BTC enthusiasts dislike LTC and say it takes something away from BTC, alot of people disagree. LTC being a smaller and younger coin has the ability to change things and test new ideas. BTC has a much larger user base and larger team of developers so it can be harder to come to a consensus on changes with BTC. Litecoin devs have recently been helping develop both LTC and BTC by contributing bug fixes to the BTC-qt devs for inclusion in the Bitcoin-qt client. LTCs native client is the Litecoin-qt application which is very similar to the Bitcoin-qt client. Litecoin-qt is available for Linux, Windows and Mac at the official Litecoin website. If you would like to see a guide on how to setup a Litecoin-qt wallet please see How To Create A Litecoin Wallet. Alot of the same things that exist for BTC exist for LTC. Such as: PaperWallets Litecoin Block Explorer Another Block Explorer Litecoin Wiki Litecoin Gambling Litecoin Dice Litecoin Mining Calculator There are many exchanges that support trading LTC for other crypto currencies as well as USD. Some (but not all) exchanges are listed below. BTC-e OKCoin for China Kraken Bitfinex Crypto-Trade I do not endorse any of these exchanges. I am only listing them for information purposes only. As with anything in the crypto world please do your own research before doing any type of transaction. Some links to the LTC community are: LTC Forums LTC Google+ And of course the LTC subreddit A very popular chart website for LTC (and other coins).
A Bitcoin wallet address is a digital address, made up of letters and numbers, that you use for sending and receiving Bitcoin transactions. In just the same way that an email address is used to send and receive emails, a Bitcoin wallet address is the digital address from which you send and receive BTC. Your Bitcoin Address: ฿ USD. Receive Send. Generate a payment request ฿ Generate. Send ฿ Send. Sell Buy. Transaction History. No transactions. Date Tx ID Confirmations Amount [ To create a Bitcoin Wallet - move your cursor inside the box! ] [ WARNING! - SAVE THE SECRET GENERATED URL ADDRESS OR YOU WILL LOSE YOUR BITCOINS FOREVER. ] Safety instruction: Only you have access to your Bitcoin ... This is also useful for those who wish to have a permanent Bitcoin wallet address. Here are two most popular Bitcoin hardware wallets: Ledger Nano X; Cobo Vault; Watch this video tutorial to understand more about how to set-up your hardware wallet like Ledger Nano S to get your Bitcoin address. Download the Bitcoin Wallet by Bitcoin.com. A simple, secure way to send and receive Bitcoin. Available for iOS, Android, Mac, Windows, and Linux. Supports Bitcoin Cash (BCH) and Bitcoin (BTC). Bitcoin Address Check to see if it has been reported as a scam ; Report a bitcoin scammer like the bitcoin sextortion porn scam email, investment scam, or mining scam; Check a bitcoin wallet balance; Find a bitcoin address owner; Bitcoin Wallet Transaction Alerts notify you by email when a bitcoin address has activity on the blockchain
Cryptocurrency Wallete How To Create Bitcoin Address/Wallet BTC Wallet Tutorial
3-A Bitcoin wallet address will then be auto-generated at the bottom of the BTC-E page you are on 4-Copy that wallet address 5-Go to your other Exchane where your Bitcoin is(l used Xapo in the vid) Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. How To Create Bitcoin Address/Wallet. Today I am going to show you how to create cryptocurrecy wallet address. Cryptocurrency like bitcoin so you can Easy Create Address or id in bitcoin core wallet. This bitcoin clipboard address changer will replace any bitcoin or ethereum address in clipboard to one of yours, resulting the user in pasting a wrong addre... Where Is Cash App Bitcoin Wallet Address? __ Try Cash App using my code and we’ll each get $5! SFGQXGB https://cash.me/$AnthonyCashHere __ Price Check: https...