Hunderte Millionen Euro gestohlen?: Bitcoin-Börse MtGox ...

Sentinel Protocol (UPP)

ICO Verdict

Sentinel protocol is a security intelligence platform for blockchains (SIPB) to protect valuable crypto assets from hacking and scam attempts. Threat Reputation Database collects risk information in a decentralized, incentive driven fashion, making it possible to have one unified global threat database. S-wallet, a machine learning engine integrated security wallet, leveraging TRDB, enabling its Fraud Detection System on distributed ledgers and identifies malicious transactions. Security is the fundamental layer of any meaningful projects, exchanges and DAPPs. Crytocurrency related hacks have been nothing short of major catastrophy, thankfully here come the Sentinels.
Reason to invest:
Hype Rate: Medium growing to High
Risk Rate: Low
ROI Rate: High
Potential Growth: Very High
Overall Rating: Very High

ICO Information

Public Fundraise

Date: Mid-April
Ticker: UPP
Token type: Native UPP
ICO Token Price: TBA
Fundraising Goal: 48,000 ETH
Total Tokens: 500,000,000
Available for Token Sale: 60% (300,000,000 UPP)
Private Sale (concluded): 168,500,000 UPP. (30% bonus, bonus lock-up period: 180 days)
Presale (April): 87,500,000 UPP. (15% bonus, bonus lock-up period: 180 days)
Crowdsale: 39,000,000 UPP
Pre-Sentinels: 5,000,000 UPP (Airdrop)
Whitelist: Yes, Whitelist Form
Know Your Customer (KYC): YES
Bonus for the First: TBA
Min/Max Personal Cap: Presale 30-300ETH, Crowdsale 0.5-10ETH
Accepts: ETH

Full Review

At a Glance

Sentinel Protocol can be described as security intelligence platform for blockchain (SIPB), this includes a wide variety of security features, from anti-theft, malformed transaction prevention, unknown threat prevention, transaction traceability etc. The protocol collects hacking reports, which are then delegated to "The Sentinels", a group of trusted security experts, who confirms the incident and registers the case information to the Threat Reputation Databse (TRDB). The Sentinels are rewarded for participation under the Delegated Proof of Stake (DPOS) model with Sentinel Points (SP), which can later be redeemed for its native currency UPP. Sentinel Protocol also introduces their own S-wallet, a secure wallet with built in machine learning AI, Fraud Detection System (FDS) and built-in security features such as filtering scam addresses and detecting abnormal behavior, leveraging TRDB for always up-to-date threat definitions. Sentinel Protocol utilizes the strength of decentralized and distributed computing, running extensive tests and simulations in their D-Sandbox (Distributed Malware Sandboxing) environment, effectively cutting cost down compared to the traditional expensive dedicated virtual machine environments. Sentinel Protocol can be integrated seamlessly to any client wallets and exchanges, leveraging its collective intelligence to protect users from malicious threats.

Key Security Features

Threat Reputation Database (TRDB)
Those who have used anti-virus softwares for the internet should be familiar with definition files, each commercial virus scanners maintain their own virus/threat database and end-users need to update on a periodic basis for the latest definition. These databases are not only centralized making them more vulnerable to manipulate but more importantly never complete as vendors lack any incentive to collaborate. Sentinel Protocol aims to create a global alliance for threat information exchange, with built-in incentives for each vendor to contribute to the TRDB.
Machine Learning Engine Integrated Security Wallet (S-Wallet)
Sentinel Protocol's secure wallet (S-wallet) is similar to an "antivirus enabled wallet", leveraging collective intelligence harvested by the community and security experts pooled in the TRDB. S-wallets can detect suspicious executions, these can be in the form of blacklisted wallet addresses, scam sites or fradulent activities detected by their Fraud Detection System(FDS), driven by their proprietary machine learning engine. S-wallet also analyzes the threat tendency and history to proactively respond to unknown threats (known as zero-day attacks) that traditional antivirus softwares can't do before the next software update. This is an AI driven engine, continuously learning from the client side Sentinel Wallet to create model behaviors.
Let's create a use case to see how this might work in real life. Say you're about to participate in an ICO, and ICOs these days come with scams by default. There's a telegram DM popped up on your phone, with a contribution address that will expire in 3 min, it's been a busy day that you're not keeping up with the latest update and you are about to FOMO in.
Now when you enter the contribution address into your S-wallet, ready to send the transaction, the send button suddenly turns red with (13 SCAMS REPORTED), you know S-wallet just saved your hard earned(?) ETH.
Distributed Malware Analysis Sandbox (D-Sandbox)
D-Sandbox is similar to traditional sandbox, a test environment (virtual machines) to run unverified programs. In D-Sandbox environment (decentralized nodes), potential threats are submitted and analyzed thoroughly via collective intelligence, at significantly lower costs of computing resources and infinitely scalable.

Real Hacks, Real Solutions

The Sentinel Protocol team has written a wonderful article examining the recent NEM hack, or more precisely Coincheck exchange hack, a massive 523 million NEM coins compromised. The article can be found here So what is the solution to NEM hack and its kind?
'Security' is a big topic, let's examine a few high profile hacks to understand what Sentinel Protocol is capable of and what it isn't.
The Mt.Gox Hack
In 2011, some hacker breached into Mt. Gox auditor's computer and used it to transfer a huge amount of bitcoins to themselves, which were later sold on Mt. Gox itself. This created a huge strain on the market that caused a major crash.
If Fraud Detection System (FDS) was installed to monitor and detect abnormal behavior, it would've been initiated to notify the exchange to take immediate actions to mitigate the hack, eg. halting trades from this specific address to prevent further damages to the order book.
In 2014, Mt.Gox was robbed a whopping $473 million from transaction malleability attack. This protocol level vulnerability isn't something Sentinel Protocols can help prevent, it is more of a system level design security while Sentinels Protocol is an added layer of security.
There are other examples, like the DAO hack caused by recursive requests called on a poorly designed function, or multi-sig vulnerability hack in both Bitfinex and Parity. These type of 'security' issues can't be fixed or prevented by Sentinel Protocol, but during adnormal events, Sentinel Protocol can at the very least alert the affected parties.

Team

The Sentinel Protocol team is stacked with cyber security talents, a connection was apparently made through the company Darktrace that several team members including the foundeCEO worked for. Darktrace is an AI company for cyber security with 620 employees in 32 offices, specializing in machine learning algorithms to detect and respond to cyber-threats across diverse digital environments. We can also see traces of other industry leading cyber security firms including Palo Alto Networks, F5 Networks and Penta Security Systems. The team has complete relevant work history, experiences, as well as established industry connections for the Sentinel Protocol project.
The name Uppsala is named after an old capital of Sweden, where the founder Patrick Kim and co-founder HM Park stayed and conducted some study over blockchain focusing on lightning consensus algorithm, the idea of Sentinel Protocol was also drafted there.

Useful Reading

Links

Video

Community

Due Diligence

Sentinel Protocol (UPP)

Company

Name: UPPSALA PTE. LTD.
UEN: 201801451C
Status: LIVE COMPANY
Address: 6 EU TONG SEN STREET #09-12 THE CENTRAL SINGAPORE 059817

Team

Patrick Kim (Founder and CEO) | LinkedIn Profile
HM Park (Co-founder / Head of Operations) | LinkedIn Profile
John Kirch (Chief Evangelist) | LinkedIn Profile
Dayeol Lee (Senior Researcher and Engineer) | LinkedIn Profile
Michael Zhou (Head of Threat Intelligence) | LinkedIn Profile
Narong Chong (Head of Security Operations) | LinkedIn Profile
Guo Feng (Core Development) | LinkedIn Profile
Minwoo Ku (Head of Product) | LinkedIn Profile
Karly Choi (Head of Marketing) | LinkedIn Profile

Github

Due to the security nature of this project, code will be published to certain extent only, repository not yet available.

Product & Service

Not yet

Vesting

TBA

Additional Info

Token Allocation

Use of Proceeds

submitted by msg2infiniti to icoverdict [link] [comments]

Bitcoin 1.0 vs 2.0 – or – A Comparison of the Largest USD/BTC Exchange & UltraCoin: Features & Costs

I was looking at the offerings of Bitfinex just now, after hearing that Coinbase had the highest volume of any US-based broker just weeks after opening an exchange (we’ll discuss that at a different time, since Coinbase is waiving fees meaning those users are hot money, but likely are part of the largest installed user base). What I found was illuminating, at least for me since I don’t follow the offerings of BTC brokers and exchanges that closely. Bitfinix offers leverage, plain vanilla swaps and TRS (total return swaps - basically fixed/variable rates in major fiat denominations for cryptocurrency (BTC. LTC, DRK) exposure). I said to myself, “Wow, that’s pretty advanced.” Then I looked at the fees page, and saw the swaps were priced at 15%. The first thing that came to mind was the difference, and limitations that come with the business models of first generation bitcoin companies and second generation bitcoin companies.
To put this into perspective, Veritaseum's UltraCoin offers user programmable swaps (ie. you can make your own CDS, TRS or plain vanilla, or even a custom swap) with exposures to not just 3 cryptos and 3 or 4 fiat currencies, but all major and most exotic currency pairs (dozens) as well as over 45,000 tickers covering EVERY major asset class (stocks, bonds, forex & commodities as well as cryptos) from exchanges throughout the world****. This is all capable at a sliding scale of 10 to 25 basis points, round trip. That's the equivalent of 5 bp to 12.5 bp per trade - or 1/150th of what Bitfinex charges for a much simpler and more constrained product. In addition, all of this is done without UltraCoin havin any possession of your funds, whatsoever. Veritaseum (the company behind UltraCoin) is a software concern, not a financial entiity, thus you have no exposure to our balance sheet. We cannot MT. Gox you and you essentially have no counterparty, default or credit risk because your counterparty is the blockchain, and you trade peer to peer vs. through a centralized exchange. Pretty big difference, no?
I will continue my discussion on pricing and features right after I delineate the distinction between the two.

The Difference between Bitcoin 1.0 and Bitcoin 2.0 Companies

To begin with, I'd like to make clear that not only is the title misleading, but all references to the same are essentially inaccurate. Bitcoin itself is still in beta stage (0.9x) thus its not accurate to refer to 1st and 2nd generations of bitcoin businesses. If anything, we're all in beta. Now that I've gotten that off of my chest... The first bold generation of bitcoin entrepreneurs (it's amazing that you can refer to companies born 2 and 3 years ago as a previous generation, it just goes to show you how fast this space is moving!) built businesses based upon bitcoin as a legacy commodity. Basically, they bought, sold, transmitted or transferred it as a unit of value. They did this because that's how everything was done for the last several thousand years in the financial services industry. Basically, they had no choice - or so they thought. Then came those who read the Satoshi whitepaper and the bitcoin wiki and saw a very different meaning. My team and I are among those entrepreneurs. We saw that bitcoins were malleable, programmable, tools with which one can use to paint upon the canvas of value. A far cry from the moving of static financial widgets from place to place. Think of moving bitcoins around (bitcoin 1.0 companies) vs programming bitcoins to act on their own according to their contractual owner's wishes (bitcoin 2.0 companies) akin to pushing a model T Ford around town vs. programming your driverless electric Tesla to go by the grocery store to pick up some fresh produce before swinging by the school to pick up your kids on the way home to meet you to take your wife (girlfriend?) out to dinner.

A Real World Comparison of Bitcoin Companies: Bitfinex (v1.0) vs Veritaseum (v2.0)

Tickers Available

Bitfinex: ~6 or 7 (this is an approximation) - BTC, LTC, DRK, USD & (I'm assuming EUR, CNY and maybe GBP). It is quite possible that I'm underestimating their portfolio here.
Veritaseum's UltraCoin: ~45,000+
Asset Classes Available
Bitfinex: Crypto and forex
Veritaseum's UltraCoin: Stocks, Bonds, Commodities, Forex, Cryptos and many indices
Costs Bitfinex: up to 40bp round trip, 1,500bp for swaps
Veritaseum's UltraCoin: up to 25 bp round trip for all products (primarily smart contract swap driven)
Leverage available: Bitfinex: Assumed to be up to 50x, traditional margin lending
Veritaseum's UltraCoin: up to 10,000x, with finite digital P/L parameters (no margin calls, no negative account drawdowns)
How does Veritaseum do it? We program the bitcoin to act according to a mutual agreement between two or more parties, then send it to the blockchain to act accordingly. These agreements are self executing, unbreakable promises known as "Smart Contracts". In this case, they are highly customizable, P2P OTC swaps, but we are working on a multitude of other products, services and solutions as well. We also supply very high level, unconflicted, independent and impartial strategy and research for our customers. Since we don't use our balance sheet and we don't act as a principal, we have no incentive to skewer the research in any particular direction.

Smart Contracts as Transaction Vehicles: The Safest Possible Way To Exchange Value

Veritaseum's UltraCoin BTC-based smart contracts are: 1. highly flexible - you design your own derivatives yourself using your own parameters via our simple graphical user interface 2. self-executing 3. autonomous 4. unbreachable: we call them, the unbreakable promise! They are backed, fortified and stored by/on the Bitcoin blockchain itself 5. uber-transparent: simple click the "trace transaction" button to find the location and historical travel path of your assets anytime, from anywhere you have an internet connection

Trading Through a Balance Sheet-Based Financial Institution vs. Distributed, Decentralized, P2P Software Concern

It's a matter of risk. This is not a dig at Bitfinex. After looking at their volume (significant) and their offerings (quite impressive given the newness of this industry) the last thing I would ever want to do is to disparage them. As a matter of fact, I give them kudos! Good job, fellas! What I do want to accomplish is the education through the fact that the Bitcoin protocol has given rise to the genesis of a new type of company, with a new business model that can offer a totally new type of product. As you were able to see from above, Veritaseum's UltraCoin offers a very uniquer product with many if not all of the attributes that potential competitors offer, with a slew of attributes that others can't touch. This is done at 1/150th of the price and at much less risk! When dealing with Veritaseum's UltraCoin, you can never get Gox'd because we never have (nor do we want) possession of your coins or fiat - every, at any time. Because we don't user our balance sheet (we are a software company, not a centralized exchange or brokedealer) you:
This is just the beginning of what is capable with bitcoin (and this is pure bitcoin, not altcoins, no tokens, no sidechains, just pure, old fashioned [at least as old as it can be considered] bitcoin) and 2.0 business models. Wait until you see the new stuff we'll be rolling out.
We are in beta, so please be aware of that and the shortcomings that it entails (although it is also my opinion that most bitcoin companies are in beta because bitcoin itself is in beta, as implied above). I implore you to download, and trade with, our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any bitcoin-rich individuals or entities looking to provide liquidity to the system, individuals/compamies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
Bitcoin 2.0 An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:
submitted by Reggie-Middleton to BitcoinMarkets [link] [comments]

Bitcoin 1.0 vs 2.0 – or – A Comparison of Legacy Exchanges & Veritaseum's UltraCoin

Veritaseum is looking for liquidity providers to assist in kickstarting the world's first global P2P exchange. If you have a healthy stash of BTC, please contact us to discuss.
I was looking at the offerings of a large US bitcoin exchange just now, after hearing that Coinbase had the highest volume of any US-based broker just weeks after opening an exchange (we’ll discuss that at a different time, since Coinbase is waiving fees meaning those users are hot money, but likely are part of the largest installed bitcoin user base in the world and growing rapidly). What I found was illuminating, at least for me since I don’t follow the offerings of BTC brokers and exchanges that closely. I noticed several of the industry (BTC exchange) leaders offer leverage, plain vanilla swaps and TRS (total return swaps - basically fixed/variable rates in major fiat denominations for cryptocurrency (BTC. LTC, DRK) exposure). I said to myself, “Wow, that’s pretty advanced.” Then I looked at the fees, and saw the swaps were priced up to and past 15%. Then, upon further research, I realized that these swaps were financing mechanisms for margin lending. The first thing that came to mind was the difference, and limitations that come with the business models of first generation bitcoin companies and second generation Bitcoin companies. Take notice in the difference of the capitalization. Lower case "b" denotes the accounts of value that the mainstream media calls digital currency. Upper case "B" denotes the blockchain-based, protocol driven services and capabilities behind the lower case "b". Generation 1.0 v. generation 2.0!
To put this into perspective, Veritaseum's UltraCoin offers user programmable swaps (ie. you can make your own CDS, TRS or plain vanilla, or even a custom swap) with exposures to not just 3 cryptos and 3 or 4 fiat currencies, but all major and most exotic currency pairs (dozens) as well as over 45,000 tickers covering EVERY major asset class (stocks, bonds, forex & commodities as well as cryptos) from exchanges throughout the world. This is all capable at a sliding scale of 10 to 25 basis points, round trip. That's the equivalent of 5 bp to 12.5 bp per trade. In addition, all of this is done without UltraCoin having any possession of your funds, whatsoever. Veritaseum (the company behind UltraCoin) is a software concern, not a financial entity, thus you have no exposure to our balance sheet. We cannot MT. Gox you and you essentially have no counterparty, default or credit risk because your counterparty is the blockchain, and you trade peer to peer vs. through a centralized exchange. Pretty big difference from the legacy systems that we're all used to, no?

The Difference between Bitcoin 1.0 and Bitcoin 2.0 Companies

To begin with, I'd like to make clear that not only is the title misleading, but all references to the same are essentially inaccurate. Bitcoin itself is still in beta stage (0.9x) thus its not accurate to refer to 1st and 2nd generations of bitcoin businesses. If anything, we're all in beta. Now that I've gotten that off of my chest... The first bold generation of bitcoin entrepreneurs (it's amazing that you can refer to companies born 2 and 3 years ago as a previous generation, it just goes to show you how fast this space is moving!) built businesses based upon bitcoin as a legacy commodity. Basically, they bought, sold, transmitted or transferred it as a unit of value. They did this because that's how everything was done for the last several thousand years in the financial services industry. Basically, they had no choice - or so they thought. Then came those who read the Satoshi whitepaper and the bitcoin wiki and saw a very different meaning. My team and I are among those entrepreneurs. We saw that bitcoins were malleable, programmable, tools with which one can use to paint upon the canvas of value. A far cry from the moving of static financial widgets from place to place. Think of moving bitcoins around (bitcoin 1.0 companies) vs programming bitcoins to act on their own according to their contractual owner's wishes (bitcoin 2.0 companies) akin to pushing a model T Ford around town vs. programming your driverless electric Tesla to go by the grocery store to pick up some fresh produce before swinging by the school to pick up your kids on the way home to meet you to take your wife (girlfriend?) out to dinner.

A Real World Comparison of Bitcoin Companies

Tickers Available

Veritaseum's UltraCoin: ~45,000+
Asset Classes Available
Veritaseum's UltraCoin: Stocks, Bonds, Commodities, Forex, Cryptos and many indices
Costs Veritaseum's UltraCoin: up to 25 bp round trip for all products (primarily smart contract swap driven)
Leverage available: Veritaseum's UltraCoin: up to 10,000x, with finite digital P/L parameters (no margin calls, no negative account drawdowns)
How does Veritaseum do it? We program the bitcoin to act according to a mutual agreement between two or more parties, then send it to the blockchain to act accordingly. These agreements are self executing, unbreakable promises known as "Smart Contracts". In this case, they are highly customizable, P2P OTC swaps, but we are working on a multitude of other products, services and solutions as well. We also supply very high level, unconflicted, independent and impartial strategy and research for our customers. Since we don't use our balance sheet and we don't act as a principal, we have no incentive to skewer the research in any particular direction.

Smart Contracts as Transaction Vehicles: The Safest Possible Way To Exchange Value

Veritaseum's UltraCoin BTC-based smart contracts are: 1. highly flexible - you design your own derivatives yourself using your own parameters via our simple graphical user interface 2. self-executing 3. autonomous 4. unbreachable: we call them, the unbreakable promise! They are backed, fortified and stored by/on the Bitcoin blockchain itself 5. uber-transparent: simple click the "trace transaction" button to find the location and historical travel path of your assets anytime, from anywhere you have an internet connection

Trading Through a Balance Sheet-Based Financial Institution vs. Distributed, Decentralized, P2P Software Concern

What I do want to accomplish is the education through the fact that the Bitcoin protocol has given rise to the genesis of a new type of company, with a new business model that can offer a totally new type of product. As you were able to see from above, Veritaseum's UltraCoin offers a very uniquer product with many if not all of the attributes that potential competitors offer, with a slew of attributes that others can't touch. This is done at 1/150th of the price and at much less risk! When dealing with Veritaseum's UltraCoin, you can never get Gox'd because we never have (nor do we want) possession of your coins or fiat - every, at any time. Because we don't user our balance sheet (we are a software company, not a centralized exchange or brokedealer) you:
This is just the beginning of what is capable with bitcoin (and this is pure bitcoin, not altcoins, no tokens, no sidechains, just pure, old fashioned [at least as old as it can be considered] bitcoin) and 2.0 business models. Wait until you see the new stuff we'll be rolling out.
I implore you to download our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any bitcoin-rich individuals or entities looking to provide liquidity to the system, individuals/compamies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
Bitcoin 2.0 An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:
submitted by Reggie-Middleton to BitcoinDerivatives [link] [comments]

Of Wolves and Weasels - Day 613 - Weekly Wrapup #81

Hey all, GoodShibe here!
This was your week in Dogecoin:
This Week’s oWaWs
Top Images/Memes of the Week
Announcements
Other Dogecoin Communities
Dogecoin Twitch Streamers (Who went live this week)
  • Did you stream this week? Link me to your page in the comments and let's get you some subscribers!
Dogecoin Attractions – Neat or interesting things to check out/ Take part in this Week
Other Interesting Stuff
Did I miss anything? Do you have a Dogecoin community you want featured? Let me know!
All of these places are seeds. Their potential is infinite. You do not have to ‘Leave’ Reddit in order to help build up these other communities.
But take part in them. Take part in one of them. Make it your own.
Each of these different communities offer Shibes different options, different speeds, different conversations.
What will you do there? What will you build there?
It’s 9:05AM EST and Sunday is FunDay, right? Right? Our Global Hashrate is holding at ~1130 Gigahashes per second and our Difficulty is up from ~19332 to ~21480.
As always, I appreciate your support!
GoodShibe
submitted by GoodShibe to dogecoin [link] [comments]

Introducing BitTicker - Bitcoin Clock [ Physical ]

We would like to introduce BitTicker.
BitTicker is a digital clock — but rather than showing the current time, it shows the current Bitcoin price measured against USD.
Some cool features included in the BitTicker:
-Priced affordably at $29.99 (payable with Bitcoin!)
-Options between MT.gox, Bitstamp, and Coinbase on the Ticker.
-Simple to set-up. Connect to WiFi and ready to go.
-Updates every 3 seconds - uses as little bandwidth as physically possible.
-Easy to mount on a wall - place it above a desktop and easily see the price live!
The proprietary software for BitTicker is completed and we recently acquired a hardware engineer and are finalizing the product (the hardware engineer will be done with his work in 5 days and we will be producing large amounts of BitTickers in 28 days. Pre-orders will ship in 35 days).
Example of the BitTicker in an office:
http://puu.sh/5QjA2.jpg
http://puu.sh/5QjIl.png
The BitTicker is 24 inches wide and 10 inches tall (61 cm wide and 25.5 cm tall).
Pre-orders launch tomorrow. If interested in purchasing it can be bought from the official bitcointalk thread here - https://bitcointalk.org/index.php?topic=375393.0
We are very excited to get this off the ground running and appreciate any feedback.
Thanks.
submitted by BitTicker to Bitcoin [link] [comments]

Bitcoin 1.0 vs 2.0 – or – A Comparison of the Largest USD/BTC Exchange & UltraCoin: Features & Costs

I was looking at the offerings of Bitfinex just now, after hearing that Coinbase had the highest volume of any US-based broker just weeks after opening an exchange (we’ll discuss that at a different time, since Coinbase is waiving fees meaning those users are hot money, but likely are part of the largest installed user base). What I found was illuminating, at least for me since I don’t follow the offerings of BTC brokers and exchanges that closely. Bitfinix offers leverage, plain vanilla swaps and TRS (total return swaps - basically fixed/variable rates in major fiat denominations for cryptocurrency (BTC. LTC, DRK) exposure). I said to myself, “Wow, that’s pretty advanced.” Then I looked at the fees page, and saw the swaps were priced at 15%. The first thing that came to mind was the difference, and limitations that come with the business models of first generation bitcoin companies and second generation bitcoin companies.
To put this into perspective, Veritaseum's UltraCoin offers user programmable swaps (ie. you can make your own CDS, TRS or plain vanilla, or even a custom swap) with exposures to not just 3 cryptos and 3 or 4 fiat currencies, but all major and most exotic currency pairs (dozens) as well as over 45,000 tickers covering EVERY major asset class (stocks, bonds, forex & commodities as well as cryptos) from exchanges throughout the world****. This is all capable at a sliding scale of 10 to 25 basis points, round trip. That's the equivalent of 5 bp to 12.5 bp per trade - or 1/150th of what Bitfinex charges for a much simpler and more constrained product. In addition, all of this is done without UltraCoin havin any possession of your funds, whatsoever. Veritaseum (the company behind UltraCoin) is a software concern, not a financial entiity, thus you have no exposure to our balance sheet. We cannot MT. Gox you and you essentially have no counterparty, default or credit risk because your counterparty is the blockchain, and you trade peer to peer vs. through a centralized exchange. Pretty big difference, no?
I will continue my discussion on pricing and features right after I delineate the distinction between the two.

The Difference between Bitcoin 1.0 and Bitcoin 2.0 Companies

To begin with, I'd like to make clear that not only is the title misleading, but all references to the same are essentially inaccurate. Bitcoin itself is still in beta stage (0.9x) thus its not accurate to refer to 1st and 2nd generations of bitcoin businesses. If anything, we're all in beta. Now that I've gotten that off of my chest... The first bold generation of bitcoin entrepreneurs (it's amazing that you can refer to companies born 2 and 3 years ago as a previous generation, it just goes to show you how fast this space is moving!) built businesses based upon bitcoin as a legacy commodity. Basically, they bought, sold, transmitted or transferred it as a unit of value. They did this because that's how everything was done for the last several thousand years in the financial services industry. Basically, they had no choice - or so they thought. Then came those who read the Satoshi whitepaper and the bitcoin wiki and saw a very different meaning. My team and I are among those entrepreneurs. We saw that bitcoins were malleable, programmable, tools with which one can use to paint upon the canvas of value. A far cry from the moving of static financial widgets from place to place. Think of moving bitcoins around (bitcoin 1.0 companies) vs programming bitcoins to act on their own according to their contractual owner's wishes (bitcoin 2.0 companies) akin to pushing a model T Ford around town vs. programming your driverless electric Tesla to go by the grocery store to pick up some fresh produce before swinging by the school to pick up your kids on the way home to meet you to take your wife (girlfriend?) out to dinner.

A Real World Comparison of Bitcoin Companies: Bitfinex (v1.0) vs Veritaseum (v2.0)

Tickers Available

Bitfinex: ~6 or 7 (this is an approximation) - BTC, LTC, DRK, USD & (I'm assuming EUR, CNY and maybe GBP). It is quite possible that I'm underestimating their portfolio here.
Veritaseum's UltraCoin: ~45,000+
Asset Classes Available
Bitfinex: Crypto and forex
Veritaseum's UltraCoin: Stocks, Bonds, Commodities, Forex, Cryptos and many indices
Costs Bitfinex: up to 40bp round trip, 1,500bp for swaps
Veritaseum's UltraCoin: up to 25 bp round trip for all products (primarily smart contract swap driven)
Leverage available: Bitfinex: Assumed to be up to 50x, traditional margin lending
Veritaseum's UltraCoin: up to 10,000x, with finite digital P/L parameters (no margin calls, no negative account drawdowns)
How does Veritaseum do it? We program the bitcoin to act according to a mutual agreement between two or more parties, then send it to the blockchain to act accordingly. These agreements are self executing, unbreakable promises known as "Smart Contracts". In this case, they are highly customizable, P2P OTC swaps, but we are working on a multitude of other products, services and solutions as well. We also supply very high level, unconflicted, independent and impartial strategy and research for our customers. Since we don't use our balance sheet and we don't act as a principal, we have no incentive to skewer the research in any particular direction.

Smart Contracts as Transaction Vehicles: The Safest Possible Way To Exchange Value

Veritaseum's UltraCoin BTC-based smart contracts are: 1. highly flexible - you design your own derivatives yourself using your own parameters via our simple graphical user interface 2. self-executing 3. autonomous 4. unbreachable: we call them, the unbreakable promise! They are backed, fortified and stored by/on the Bitcoin blockchain itself 5. uber-transparent: simple click the "trace transaction" button to find the location and historical travel path of your assets anytime, from anywhere you have an internet connection

Trading Through a Balance Sheet-Based Financial Institution vs. Distributed, Decentralized, P2P Software Concern

It's a matter of risk. This is not a dig at Bitfinex. After looking at their volume (significant) and their offerings (quite impressive given the newness of this industry) the last thing I would ever want to do is to disparage them. As a matter of fact, I give them kudos! Good job, fellas! What I do want to accomplish is the education through the fact that the Bitcoin protocol has given rise to the genesis of a new type of company, with a new business model that can offer a totally new type of product. As you were able to see from above, Veritaseum's UltraCoin offers a very uniquer product with many if not all of the attributes that potential competitors offer, with a slew of attributes that others can't touch. This is done at 1/150th of the price and at much less risk! When dealing with Veritaseum's UltraCoin, you can never get Gox'd because we never have (nor do we want) possession of your coins or fiat - every, at any time. Because we don't user our balance sheet (we are a software company, not a centralized exchange or brokedealer) you:
This is just the beginning of what is capable with bitcoin (and this is pure bitcoin, not altcoins, no tokens, no sidechains, just pure, old fashioned [at least as old as it can be considered] bitcoin) and 2.0 business models. Wait until you see the new stuff we'll be rolling out.
We are in beta, so please be aware of that and the shortcomings that it entails (although it is also my opinion that most bitcoin companies are in beta because bitcoin itself is in beta, as implied above). I implore you to download, and trade with, our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any bitcoin-rich individuals or entities looking to provide liquidity to the system, individuals/compamies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
Bitcoin 2.0 An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:
submitted by Reggie-Middleton to Bitcoin [link] [comments]

Bitcoin Chart

We are pleased to announce beta launching of the new bitcoin charting website:
BitcoinChart.com
What functionality we provide?
Charting
Market data
Other
Currently we are only supporting USD and MtGox, but in the near future, we are also planning to add following functionality:
Upcoming features
We are happy to hear your opinion.
submitted by BitcoinChart to Bitcoin [link] [comments]

There are lots of nice communities on IRC with rooms for discussing various topics and people giving free support for problems

You can access the Freenode IRC channel through your web browser here: http://webchat.freenode.net/
Channels begin with # and you can specify multiple ones using a , between them. i.e #bitcoin, #electrum, #coinbase
submitted by genjix to Bitcoin [link] [comments]

Why are we worrying about the price of a bitcoin or government acceptance?

Lets focus on person to person trades and other novel ideas to utilize bitcoin for. So what if it doesn't go mainstream? We have more time to experiment.
I have to admit that it annoys me a bit when I see reaction to bearish news. "china bans btc for banking". So fucking what? Are you in this for pure financial profit or for being at the helm of innovation?
What was rule #1 of investing?
ONLY INVEST THAT WHAT YOURE WILLING TO LOSE.
Do not expect solid returns on such nascent economic market. Play with it. Expand ideas. That was what bitcoin was all about. But lately its just fearful posts that the price is plummeting.
The #1 prob I see with BTC is buying BTC. If you're lucky to live where one of the major exchanges are then I guess its not much of a problem, but if you're somewhere far flung it becomes a pain-in-the-ass. BTC was designed to be transportable. What happened? We have a supply bottleneck already.
Why do we have to wait for bank approval to buy BTC? wasn't the whole point that they have no hand/control in supply of the currency? Maybe with such a distributed currency we also need to come up with a new way to make it easier for laymen to get hold of BTC.
If we take our attention off the Mt.Gox ticker and focus on expanding BTC adoptees, I'm certain we will see a price rise.
submitted by btcnp to Bitcoin [link] [comments]

TheTrollBox Chrome Extensions

Hello reddit !
I want to introduce a new company named TheTrollBox.
TheTrollBox is a small web development company that specializes in crypto currency applications\extensions.
Our first line of products are 15 Live Chrome Extension Tickers that presents the price of a given coin in real time.
We cover most of the popular exchanges (MtGox, BTC-e, Bitstamp, BTCChina, OkCoin, FXBTC, BitcoinAverage) and most of the popular coins (BTC, LTC, PPC, NMC, NVC, FTC, XPM).
More over, we can present the value of the coin in lots of FIAT currencies (USD, AUD, CAD, CHF, CNY, DKK, EUR, GBP, HKD, NZD, PLN, RUB, SGD, JPY, THB, NOK, CZK).
Stop with the F5, and free yourself to other tasks while receiving live updates about changes in the value of your coins.
Our projects source code are still not public but will be uploaded to github as an open source project in the near future.
For the meanwhile I argue all the sceptic and non believers (AND YES, I KNOW REDDIT GIVES NEW USERS A HARD TIME) to download our source code from the Chrome Store and check them manually, it can be easily done as explained here:
http://www.madhur.co.in/blog/2011/06/03/reverseengineerchrome.html
Our Extensions:
MTGox BTC: https://chrome.google.com/webstore/detail/mtgox-btc-live-tickecngkfdlfdddhomfddifggeldhahicolm
BTC-E BTC: https://chrome.google.com/webstore/detail/btc-e-btc-live-tickeafffimmlhiimncpbhfjjhlhgkpemepam
BTC-E LTC: https://chrome.google.com/webstore/detail/btc-e-ltc-live-tickebplfnllmmlniamkobmkajfjmkhhkkkkf
BTC-E PPC: https://chrome.google.com/webstore/detail/btc-e-ppc-live-tickegnaamhaklkiafpijggcapejjalkagaih
BTC-E NVC: https://chrome.google.com/webstore/detail/btc-e-nvc-live-tickephebmdffcaeimippkmcdbpenpnacmfji
BTC-E NMC: https://chrome.google.com/webstore/detail/btc-e-nmc-live-tickejcfdodmcklmffepfdebmfjjaglkegdjc
BTC-E FTC: https://chrome.google.com/webstore/detail/btc-e-ftc-live-tickegnfllhnchjphejgmhkfbnihmellekaao
BTC-E XPM: https://chrome.google.com/webstore/detail/btc-e-xpm-live-tickebjnjaofckgnobeelhaeebgnpkghpddhe
Bitstamp BTC: https://chrome.google.com/webstore/detail/bitstamp-btc-live-tickeaiigmfoocedgjcheadhbahgcdlmmfjcn
BTCChina BTC: https://chrome.google.com/webstore/detail/btcchina-btc-live-tickebmifhffljoflmjmkdilfbbihmciblmfp
OKCoin BTC: https://chrome.google.com/webstore/detail/okcoin-btc-live-tickenhjaagkbkjilmiahopnocnfbbmjplfif
OKCoin LTC: https://chrome.google.com/webstore/detail/okcoin-ltc-live-tickeadpacpkgmkegnfeggaieckpldllkbgaj
FXBTC BTC: https://chrome.google.com/webstore/detail/fxbtc-btc-live-tickeaobjeekmebdjdlkchgjijlijddjnikoj
FXBTC LTC: https://chrome.google.com/webstore/detail/fxbtc-ltc-live-tickeekbdgbkkieelpjaadfggicnepfigkkgj
BitcoinAverage BTC: https://chrome.google.com/webstore/detail/bitcoinaverage-btc-live-t/hkhpemlecgbfbohhfbcdonhkahibmgid
TheTrollBox
submitted by AlmerFronberg to Bitcoin [link] [comments]

Setting a live webpage as a desktop background in osx

I would like to set a live webpage as a desktop background on my late 2012 iMac.
I think you can do this quite easily in windoze using 'active wallpapers' but I'm struggling with my google-fu to find an osx way...
This is the page I would like to set: http://bitcoinity.org/markets?currency=EUR&exchange=mtgox it is a live ticker of BTC price in euros from the MtGox exchange.
Anyone got any suggestions?
I have investigated (but not bought and tried) http://mac.appstorm.net/reviews/internet-reviews/desktopr-put-a-website-on-your-desktop/ as the reviews in App Store mentioned that it was OK for static pages, which would not suit my needs...
Also, I know that you can make a webpage in dashboard, but this reloads everytime you switch to it, and also, if I make my webpage max size, then try to select it all in the dashboard 'trimmer' it never lets me select the whole page, which is kinda useless :/
Thanks!
submitted by e4xit to mac [link] [comments]

Bitcoin breaking the 1 BTC / $500 USD dollar ceiling - time lapse of the live Mt.Gox order book MadBitcoins Live: Mt. Gox Solution -- Silk Road 2.0 Hacked ... MT GOX Moves More BTC - Bitcoin & Altcoin Chart Analysis & Chat LIVE BitCoin: How to get money to Mt.Gox The Bitcoin Group #18 (Live) - Mt. Gox (part III ...

So gab der selbsternannte Bitcoin-Erfinder Craig Wright jüngst bekannt, dass er die Bitcoin-Börse Mt. Gox im Jahr 2011 gehackt hat. Bei diesem Angriff stahl der Angreifer 79.956 BTC – aus heutiger Sicht sind das mehr als 751 Millionen US-Dollar. Anwaltskanzlei gibt Hinweis auf Beteiligung am Angriff . Craig Wright ist nicht nur der selbsternannte Erfinder von Bitcoin, sondern womöglich ... Formel 1: Ticker. Handball. Basketball. Eishockey. Sport-Tag - Archiv . Sport 16.09.2020 01:54 min. Publikum in Bundesliga-Stadien Wehrle: "Fans, Vereine und Politik" Hand in Hand. Sport 15.09 ... Below is the cumulative depth chart. Moving your mouse over it will give you more information. The value axis for the cumulative depth chart is on the left, enumerated in [BTC].About these bars going up and down (if there are any at the moment). Nach einem Hacker-Einbruch in eine Tauschbörse steht der "Bitcoin" unter Druck. An der angegriffenen Börse Mt. Gox stürzt die virtuelle Währung von 17 Dollar fast auf Null. An anderen ... Bitcoin Ticker - Tick by tick, real time updates. All data is indicative. Options Last Updated: seconds : Time between graph updates : ms: Play sound on each trade . Round Bids/Asks to 0.500 . Animate Depth Movements . Highlight BTC bids/asks above : Alert if price falls below: Alert if price climbs above: Alert if price change +/- : Sound Alert . Desktop Alert . Show Personalized Content ...

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Bitcoin breaking the 1 BTC / $500 USD dollar ceiling - time lapse of the live Mt.Gox order book

Donate Bitcoins to MadBitcoins! -- 1PtAdf3LbwrPfX87dQ8TMuKEzuMUZtg1z1 February 14, 2014 -- Timbuktu, Mali -- I'd like to buy the world a MadBitcoins. -- MadB... Converter Bitcoins - Euros Mt.Gox - Bitcoin-Portugal.com - Duration: 4:09. ... Bitcoin Live Trading With Crypto Trading Robot DeriBot on Deribit. Deribot 1,044 watching. Live now "The truth about ... Mt Gox has moved 8,000+ more BTC. Will this cause a BTC crash? Bitcoin and alt coin technical analysis and chat live. Crypto Money Life Community Discord Ser... Approximately 10 hours of the MT.Gox order book recorded live, compressed to just under 4 minutes. Watch the price fluctuate around 497 just before punching through to 500+ around the 1:10 mark. This video is unavailable. Watch Queue Queue. Watch Queue Queue

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