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Dirty money pours into the world’s most powerful banks.

This is the best tl;dr I could make, original reduced by 92%. (I'm a bot)
Today, the FinCEN Files - thousands of "Suspicious activity reports" and other US government documents - offer an unprecedented view of global financial corruption, the banks enabling it, and the government agencies that watch as it flourishes.
The FinCEN Files investigation shows that even after they were prosecuted or fined for financial misconduct, banks such as JPMorgan Chase, HSBC, Standard Chartered, Deutsche Bank, and Bank of New York Mellon continued to move money for suspected criminals.
Sen. Ron Wyden, a member of the Senate Intelligence Committee, which requested some of these SARs, said the FinCEN Files investigation "Reinforces the fact that we now have two systems of law enforcement and justice in the country." Drug cartels move millions through US banks; poor people go to jail for possession.
Despite the banks' sweeping powers to investigate account holders, the FinCEN Files investigation reveals that major financial institutions often fail to perform the most basic checks on their customers, such as verifying where a business is located when someone opens a new account.
When investigators for HSBC's American operations asked their colleagues in Hong Kong for the name of the person who owned Trade Leader, a company that had moved more than half a billion dollars through the bank in less than two years, the answer they got was "None available." The company would reportedly emerge as an important hub in the so-called Russian Laundromat, a sprawling scheme in which wealthy Russians, facilitated by banks, secretly moved their money into the West.
The FinCEN Files investigation shows HSBC continued banking, and profiting from, the same kinds of customers that got it in trouble in the first place, such as a Panamanian import-export firm that the Treasury Department later said was laundering money for drug kingpins.
Summary Source | FAQ | Feedback | Top keywords: bank#1 Money#2 file#3 SAR#4 financial#5
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NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

IOTA and Tangle discussion/info, scam or not?

In the past weeks I heard a lot pros and cons about IOTA, many of them I believe were not true (I'll explain better). I would like to start a serious discussion about IOTA and help people to get into it. Before that I'll contribute with what I know, most things that I will say will have a source link providing some base content.
 
The pros and cons that I heard a lot is listed below, I'll discuss the items marked with *.
Pros
Cons
 

Scalability

Many users claim that the network infinitely scales, that with more transactions on the network the faster it gets. This is not entirely true, that's why we are seeing the network getting congested (pending transactions) at the moment (12/2017).
The network is composed by full-nodes (stores all transactions), each full-node is capable of sending transactions direct to the tangle. An arbitrary user can set a light-node (do not store all transactions, therefore a reduced size), but as it does not stores all transactions and can't decide if there are conflicting transactions (and other stuff) it needs to connect to a full-node (bitifinex node for example) and then request for the full-node to send a transaction to the tangle. The full-node acts like a bridge for a light-node user, the quantity of transactions at the same time that a full-node can push to the tangle is limited by its brandwidth.
What happens at the moment is that there are few full-nodes, but more important than that is: the majority of users are connected to the same full-node basically. The full-node which is being used can't handle all the requested transactions by the light-nodes because of its brandwidth. If you are a light-node user and is experiencing slow transactions you need to manually select other node to get a better performance. Also, you need to verify that the minimum weight magnitude (difficulty of the Hashcash Proof of Work) is set to 14 at least.
The network seems to be fine and it scales, but the steps an user has to make/know are not friendly-user at all. It's necessary to understand that the technology envolved is relative new and still in early development. Do not buy iota if you haven't read about the technology, there is a high chance of you losing your tokens because of various reasons and it will be your own fault. You can learn more about how IOTA works here.
There are some upcoming solutions that will bring the user-experience to a new level, The UCL Wallet (expected to be released at this month, will talk about that soon and how it will help the network) and the Nelson CarrIOTA (this week) besides the official implementations to come in december.
 

Centralization

We all know that currently (2017) IOTA depends on the coordinator because the network is still in its infancy and because of that it is considered centralized by the majority of users.
The coordinator are several full-nodes scattered across the world run by the IOTA foundation. It creates periodic Milestones (zero value transactions which reference valid transactions) which are validated by the entire network. The coordinator sets the general direction for the tangle growth. Every node verifies that the coordinator is not breaking consensus rules by creating iotas out of thin air or approving double-spendings, nodes only tells other nodes about transactions that are valid, if the Coordinator starts issuing bad Milestones, nodes will reject them.
The coordinator is optional since summer 2017, you can choose not implement it in your full-node, any talented programmer could replace Coo logic in IRI with Random Walk Monte Carlo logic and go without its milestones right now. A new kind of distributed coordinator is about to come and then, for the last, its completely removal. You can read more about the coordinator here and here.

Mining-Blockchain-based Cryptocurrencies

These are blockchain-based cryptocurrencies (Bitcoin) that has miners to guarantee its security. Satoshi Nakamoto states several times in the Bitcoin whitepaper that "The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes". We can see in Blockchain.info that nowadays half of the total hashpower in Bitcoin is controlled by 3 companies (maybe only 1 in the future?). Users must trust that these companies will behave honestly and will not use its 50%> hashpower to attack the network eventually. With all that said it's reasonable to consider the IOTA network more decentralized (even with the coordinator) than any mining-blockchain-based cryptocurrency
You can see a comparison between DAG cryptocurrencies here
 

IOTA partnerships

Some partnerships of IOTA foundation with big companies were well known even when they were not officialy published. Some few examples of confirmed partnerships are listed below, others cofirmed partnerships can be seem in the link Partnerships with big companies at the pros section.
So what's up with all alarming in social media about IOTA Foundation faking partnerships with big companies like Microsoft and Cisco?
At Nov. 28th IOTA Foundation announced the Data Marketplace with 30+ companies participating. Basically it's a place for any entity sell data (huge applications, therefore many companies interested), at time of writing (11/12/2017) there is no API for common users, only companies in touch with IOTA Foundation can test it.
A quote from Omkar Naik (Microsoft worker) depicted on the Data Marketplace blog post gave an idea that Microsoft was in a direct partnership with IOTA. Several news websites started writing headlines "Microsoft and IOTA launches" (The same news site claimed latter that IOTA lied about partnership with Microsoft) when instead Microsoft was just one of the many participants of the Data Marketplace. Even though it's not a direct partnership, IOTA and Microsoft are in close touch as seen in IOTA Microsoft and Bosch meetup december 12th, Microsoft IOTA meetup in Paris 14th and Microsoft Azure adds 5 new Blockchain partners (may 2016). If you join the IOTA Slack channel you'll find out that there are many others big companies in close touch with IOTA like BMW, Tesla and other companies. This means that right now there are devs of IOTA working directly with scientists of these companies to help them integrate IOTA on their developments even though there is no direct partnership published, I'll talk more about the use cases soon.
We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative... - Omkar Naik
 

IOTA's use cases

Every cryptocurrency is capable of being a way to exchange goods, you pay for something using the coin token and receive the product. Some of them are more popular or have faster transactions or anonymity while others offers better scalablity or user-friendness. But none of them (except IOTA) are capable of transactioning information with no costs (fee-less transactions), in an securely form (MAM) and being sure that the network will not be harmed when it gets more adopted (scales). These characteristics open the gates for several real world applications, you probably might have heard of Big Data and how data is so important nowadays.
Data sets grow rapidly - in part because they are increasingly gathered by cheap and numerous information-sensing Internet of things devices such as mobile devices, aerial (remote sensing), software logs, cameras, microphones, radio-frequency identification (RFID) readers and wireless sensor networks.
 
It’s just the beginning of the data period. Data is going to be so important for human life in the future. So we are now just starting. We are a big data company, but compared to tomorrow, we are nothing. - Jack Ma (Alibaba)
There are enormous quantities of wasted data, often over 99% is lost to the void, that could potentially contain extremely valuable information if allowed to flow freely in data streams that create an open and decentralized data lake that is accessible to any compensating party. Some of the biggest corporations of the world are purely digital like Google, Facebook and Amazon. Data/information market will be huge in the future and that's why there so many companies interested in what IOTA can offer.
There are several real world use cases being developed at the moment, many of them if successful will revolutionize the world. You can check below a list of some of them.
Extra
These are just few examples, there are a lot more ongoing and to explore.
 

IOTA Wallet (v2.5.4 below)

For those who have read a lot about IOTA and know how it works the wallet is fine, but that's not the case for most users. Issues an user might face if decide to use the current wallet:
Problems that could be easily avoided with a better understand of the network/wallet or with a better wallet that could handle these issues. As I explained before, some problems during the "congestion" of the network could be simply resolved if stuff were more user-friendly, this causes many users storing their iotas on exchanges which is not safe either.
The upcoming (dec 2017) UCL Wallet will solve most of these problems. It will switch between nodes automatically and auto-reattach transactions for example (besides other things). You can have full a overview of it here and here. Also, the upcoming Nelson CarrIOTA will help on automatic peer discovery for users setup their nodes more easily.
 

IOTA Vulnerability issue

On sept 7th 2017 a team from MIT reported a cryptographic issue on the hash function Curl. You can see the full response of IOTA members below.
Funds were never in danger as such scenarios depicted on the Neha's blogpost were not pratically possible and the arguments used on the blogpost had'nt fundamentals, all the history you can check by yourself on the responses. Later it was discovered that the whole Neha Narula's team were envolved in other concurrent cryptocurrency projects
Currently IOTA uses the relatively hardware intensive NIST standard SHA-3/Keccak for crucial operations for maximal security. Curl is continuously being audited by more cryptographers and security experts. Recenlty IOTA Foundation hired Cybercrypt, the world leading lightweight cryptography and security company from Denmark to take the Curl cryptography to its next maturation phase.
 
It took me a couple of days to gather the informations presented, I wanted it to make easier for people who want to get into it. It might probably have some mistakes so please correct me if I said something wrong. Here are some useful links for the community.
This is my IOTA donation address, in case someone wants to donate I will be very thankful. I truly believe in this project's potential.
I9YGQVMWDYZBLHGKMTLBTAFBIQHGLYGSAGLJEZIV9OKWZSHIYRDSDPQQLTIEQEUSYZWUGGFHGQJLVYKOBWAYPTTGCX
 
This is a donation address, if you want to do the same you might pay attention to some important details:
  • Create a seed for only donation purposes.
  • Generate a address and publish it for everyone.
  • If you spend any iota you must attach a new address to the tangle and refresh your donation address published before to everyone.
  • If someone sends iota to your previous donation address after you have spent from it you will probably lose the funds that were sent to that specific address.
  • You can visualize how addresses work in IOTA here and here.
This happens because IOTA uses Winternitz one-time signature to become quantum resistent. Every time you spend iota from a address, part of the private key of that specific address is revealed. This makes easier for attackers to steal that address balance. Attackers can search if an address has been reused on the tangle explorer and try to brute force the private key since they already know part of it.
submitted by mvictordbz to CryptoCurrency [link] [comments]

[POOL] COINMINERZ.COM MULTI ALGO – PROP – 1% FEE – NO REGISTRATION – ASICBOOST – AUTO HOURLY PAYMENTS OVER 0.1 - FRIENDLY SUPPORT – STRATUM & WEBSITE DOS PROTECTION

Hi welcome to the CoinMinerz.com Reddit post! Please find below information on our pool and its current offerings. We hope that you will join us and have a happy mining experience :) We are always looking to grow our mining community and welcome any feedback so we can improve our services for our miners. Happy to get coin addition requests and help out the wider crypto community where we can!
Features:
Multi Algo/Coin Pool – PROP Payment System – 1% Fee – No Registration – ASICBoost enabled on all SHA256 pools – Auto Hourly Payments over 0.1 - Friendly & Fast Support via email and Discord – Stratum & Website DOS Protection – Protected by Cloudflare – High difficulty Mining Rig Rentals & Nicehash friendly – Stats auto update across the site – Variable Difficulty Stratums – SSL – Dedicated Coin Pool Pages – Pool News & Updates page – Segregated stratum/web and payment services for each coin to minimize downtime – Payouts are in the currency being mined – Support legacy and new address types – Worker name support and dashboard for each wallet address to track workers.
Algorithms Supported:
SHA256 / Scrypt / X11 / Lyra2v3 / Equihash / ZHash / X16rv2

Coins Supported:
Auroracoin (AUR) – Scrypt (XX46)
Axe (AXE) – X11 (XX59)
Bitcoin (BTC) – SHA256 (XX33) – ASICBoost Enabled
BitcoinAtom (BCA) – SHA256 (XX54) – ASICBoost Enabled
BitcoinCash (BCA) – SHA256 (XX34) – ASICBoost Enabled
BitcoinGold (BTG) – Equihash 144,5/ZHASH (XX44)
BitcoinSV (BSV) – SHA256 (XX64) – ASICBoost Enabled
Cannabiscoin (CANN) – X11 (XX51)
Dash (DASH) – X11 (XX40)
Deutsche eMark (DEM) – SHA256 (XX39) – ASICBoost Enabled
Digibyte (DGB) – Scrypt (XX57)
Digibyte (DGB) –SHA256 (XX37) – ASICBoost Enabled
Dogecoin (DOGE) – Scrypt (XX63)
Einsteinium (EMC) – Scrypt (XX43)
EUNO – (EUNO) – X11 (XX58)
Flo – (FLO) – Scrypt (XX52)
GameCredits (GAME) – Scrypt (XX42)
Hanacoin (HANA) – Lyra2v3 (XX55)
Horizen (ZEN) – Equihash (XX60)
Litecoin (LTC) – Scrypt (XX35)
LitecoinCash (LCC) – SHA256 (XX49) – ASICBoost Enabled
LitecoinPlus (LCP) – Scrypt (XX38)
Mincoin (MNC) – Scrypt (XX53)
Peercoin (PEER) – SHA256 (XX36) – ASICBoost Enabled
Ravencoin (RVN) – X16rv2 (XX61)
Verge (XVG) – Scrypt (XX41)
Vertcoin (VTC) – Lyra2v3 (XX50)
ZCash (ZEC) – Equihash (XX56)

Stratum Addresses & Ports:
stratum+tcp://stratum.coinminerz.com:33XX – Normal mining rigs & GPU’s etc
stratum+tcp://stratum.coinminerz.com:35XX – Mining Rig Rentals / Nicehash etc

Example normal and cloud mining stratum connections for Litecoin:
stratum+tcp://stratum.coinminerz.com:3335
stratum+tcp://stratum.coinminerz.com:3535

Stratum Difficulties:
Scrypt 33XX Port Vardiff = 0.1 - 9999999 | Scrypt 35XX Port Vardiff = 500001 - 9999999
SHA256 33XX Port Vardiff = 0.1 - 9999999 | SHA256 35XX Port Vardiff = 500001 - 9999999
X11 33XX Port Vardiff = 0.1 - 9999999 | X11 35XX Port Vardiff = 32 - 9999999
Lyra2v3 33XX Port Vardiff = 0.1 - 9999999 | Lyra2v3 35XX Port Vardiff = 64 - 9999999
Equihash 33XX Port Vardiff = 0.01 - 9999999 | Equihash 35XX Port Vardiff = 65535 - 9999999
Zhash 33XX Port Vardiff = 0.01 - 9999999 | Zhash 35XX Port Vardiff = 1025 - 9999999
X16rv2 33XX Port Vardiff = 1 - 9999999 | X16rv2 35XX Port Vardiff = 9 - 9999999

Get started here:
https://coinminerz.com/go (Coins, Algos, Addresses, Ports and Difficulty)

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Pool Terms and Conditions:
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Mining Support Info:
[email protected]
https://discord.gg/ksnQFPT

Social Feeds:
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https://www.facebook.com/coinminerz

Thanks!
Kind Regards,
CoinMinerz.com
submitted by coinminerzcom to u/coinminerzcom [link] [comments]

PSA: We're running a stress test of our blockchain voting system when this post is 36 hours old, and there might be some congestion.

What's Happening

At 1488812400 UTC (06 Mar 2017 16:00:00 UTC, or 2am on the 7th in Australia) XO.1 and Flux will be demonstrating the throughput of the SecureVote voting system. Over 1 million votes per minute will be anchored to the Bitcoin blockchain, for a total of approximately 1.5 billion votes over the 24 hours.
This will take place through approximately 11,000 transactions over 24 hours. This is about 4% of Bitcoin's capacity so may cause increased confirmation times and/or fees.
Source code and documentation can be found at: https://gitlab.com/exo-one/svst-docker and we have a white-napkin if you'd like some more technical data.
You're welcome to run an auditing node to verify the throughput of this stress test for yourself. (This can also be done after the stress test has concluded)
If you have any questions please leave them below and I'll expand this post.
During the stress we'll host a publicly accessible vote-explorer / dashboard at http://demo.xo1.io/index.html. The best time to tune in will be about 15 hours after we start as we cross the 1 billion vote threshold.

What is SecureVote

SecureVote is a product by XO.1 - the world's first high capacity, secure, general purpose, end to end verifiable voting system. There is no central point of failure, all votes are fully anonymised, and no fancy new crypto is required (IE: not ZKPs or homomorphic encryption).

What is XO.1

XO.1 is a Sydney-based startup founded by myself (Max Kaye) and Nathan Spataro which has raised half a million dollars in early stage funding to develop SecureVote, the world's first secure and highly scalable online voting system.
SecureVote is something which does not exist anywhere on the planet today – it provides a high-throughput commercially viable secure voting system, which enables verification of the vote and the vote count without compromising the privacy of the vote itself.
We’re able to do this by using our proprietary vote anonymisation engine – Copperfield (patent-pending) – which solves many of the traditional problems associated with electronic voting through providing verifiable anonymity.
To get to the next stage of our product development, including the development of a first-in-class secure voting app, we’re about to start our Series-A fundraising round. Interested? Email [email protected]

What is Flux

Flux is a political movement also founded by myself and Nathan Spataro. The Flux Movement aims to instantiate a novel form of democracy called Issue Based Direct Democracy (IBDD). Unlike all other forms of democracy, IBDD is deeply concerned with epistemology and providing the best decision making possible.
IBDD is designed to bias objectivley true knowledge and is possibly the first democratic truth machine.
We hold that the main problem with democracy today is that it does not bias the best knowledge possible. The symptoms of this are corruption, bloat, sluggishness, low approval ratings, etc.
If that sort of thing interests you, I have a pre-release paper I can send on request (but not yet publish). Also, the philosophical groundwork is laid out in David Deutsch's breathtakingly profound book The Beginning of Infinity (2011).
We're expanding with chapters globally so if you'd like to get involved please get in touch.
Flux's need for a high capacity online voting system has been one of the driving forces behind SecureVote's production.

FAQ

Copperfield overview

This image provides an overview of Copperfield - https://i.imgur.com/FmODTH0.png
You can find more detail in the white napkin.

Why don't we use Ethereum (note: this is now out of date)

I've been involved in the Ethereum world since December 2013 and have been publically credited a few times with contributing to scaling discussions around that sort of technology.
My view boils down to this: Ethereum can do anything, but it can never do everything.
This stress test will produce about 150 GB of data. This isn't something the main Ethereum chain can handle, and even many years into the future it would be selfish to dump this volume of data into a shared resource.
Additionally, relying on others to eventually come up with a scaling solution isn't a great strategy IMO.
Since we needed a 2nd layer solution anyway it only makes sense to build on the most secure blockchain around: Bitcoin.
Additionally: secure private blockchains are a pipe dream. Private blockchains themselves are both easy to achieve and pointless (when it comes to public security).

How much data will be added to the Bitcoin blockchain?

Approximately 3 MB. We'll have 11,000 txs * 243 bytes per tx.

Press Release

https://xo1.io/stress-test-pr.pdf
submitted by 646463 to Bitcoin [link] [comments]

BitCore Offcially enters Africa

BitCore Offcially enters Africa
BitCore is creating a big community across the world, After Europe and Asia, next step is Africa. We aim to be a great part of how Africa trade's going forward.
https://preview.redd.it/thma4t9112531.png?width=1440&format=png&auto=webp&s=ad3fd2f6bd894539ecc490b9d5fb11cbd049d9df

We have set up the #BitCore $BTX Africa Community. Meet our #African #Community #Manager, Opa. He will help to build a robust BTX Africa community and a bridge between the Africa community and the BTX global community.

Everyone is invited to join the official Africa community group: https://t.me/BitCore_Africa

S&R. https://twitter.com/Bitcore_BTX/status/1139141088269230080?s=19

https://preview.redd.it/w99t9umt22531.jpg?width=1440&format=pjpg&auto=webp&s=ea10ed8679651babb2d45f296fd670421fc331a8
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submitted by dgcarlosleon to bitcore_btx [link] [comments]

PSA: We're running a stress test of our blockchain voting system when this post is 17 hours old, and there might be some congestion.

NB: This was originally posted over at Bitcoin and someone requested that I repost it here as well, seeing as Bitcoin doesn't have the visibility it used it.

What's Happening

At 1488812400 UTC (06 Mar 2017 16:00:00 UTC, or 2am on the 7th in Australia) XO.1 and Flux will be demonstrating the throughput of the SecureVote voting system. Over 1 million votes per minute will be anchored to the Bitcoin blockchain, for a total of approximately 1.5 billion votes over the 24 hours.
This will take place through approximately 11,000 transactions over 24 hours. This is about 4% of Bitcoin's capacity so may cause increased confirmation times and/or fees.
Source code and documentation can be found at: https://gitlab.com/exo-one/svst-docker and we have a white-napkin if you'd like some more technical data.
You're welcome to run an auditing node to verify the throughput of this stress test for yourself. (This can also be done after the stress test has concluded)
If you have any questions please leave them below and I'll expand this post.
During the stress we'll host a publicly accessible vote-explorer / dashboard at http://demo.xo1.io/index.html. The best time to tune in will be about 15 hours after we start as we cross the 1 billion vote threshold.

What is SecureVote

SecureVote is a product by XO.1 - the world's first high capacity, secure, general purpose, end to end verifiable voting system. There is no central point of failure, all votes are fully anonymised, and no fancy new crypto is required (IE: not ZKPs or homomorphic encryption).

What is XO.1

XO.1 is a Sydney-based startup founded by myself (Max Kaye) and Nathan Spataro which has raised half a million dollars in early stage funding to develop SecureVote, the world's first secure and highly scalable online voting system.
SecureVote is something which does not exist anywhere on the planet today – it provides a high-throughput commercially viable secure voting system, which enables verification of the vote and the vote count without compromising the privacy of the vote itself.
We’re able to do this by using our proprietary vote anonymisation engine – Copperfield (patent-pending) – which solves many of the traditional problems associated with electronic voting through providing verifiable anonymity.
To get to the next stage of our product development, including the development of a first-in-class secure voting app, we’re about to start our Series-A fundraising round. Interested? Email [email protected]

What is Flux

Flux is a political movement also founded by myself and Nathan Spataro. The Flux Movement aims to instantiate a novel form of democracy called Issue Based Direct Democracy (IBDD). Unlike all other forms of democracy, IBDD is deeply concerned with epistemology and providing the best decision making possible.
IBDD is designed to bias objectivley true knowledge and is possibly the first democratic truth machine.
We hold that the main problem with democracy today is that it does not bias the best knowledge possible. The symptoms of this are corruption, bloat, sluggishness, low approval ratings, etc.
If that sort of thing interests you, I have a pre-release paper I can send on request (but not yet publish). Also, the philosophical groundwork is laid out in David Deutsch's breathtakingly profound book The Beginning of Infinity (2011).
We're expanding with chapters globally so if you'd like to get involved please get in touch.
Flux's need for a high capacity online voting system has been one of the driving forces behind SecureVote's production.

FAQ

Why don't we use Ethereum

I've been involved in the Ethereum world since December 2013 and have been publically credited a few times with contributing to scaling discussions around that sort of technology.
My view boils down to this: Ethereum can do anything, but it can never do everything.
This stress test will produce about 150 GB of data. This isn't something the main Ethereum chain can handle, and even many years into the future it would be selfish to dump this volume of data into a shared resource.
Additionally, relying on others to eventually come up with a scaling solution isn't a great strategy IMO.
Since we needed a 2nd layer solution anyway it only makes sense to build on the most secure blockchain around: Bitcoin.
Additionally: secure private blockchains are a pipe dream. Private blockchains themselves are both easy to achieve and pointless (when it comes to public security).

How much data will be added to the Bitcoin blockchain?

Approximately 3 MB. We'll have 11,000 txs * 243 bytes per tx.

Press Release

https://xo1.io/stress-test-pr.pdf
submitted by 646463 to btc [link] [comments]

Deutsche Bank shares sink 4% after police raid offices on money laundering allegations

This is the best tl;dr I could make, original reduced by 48%. (I'm a bot)
The investigations are directed against two Deutsche Bank staff members, with both accused of helping clients set up off-shore businesses to launder money gained from criminal deeds.
German police conducted a search of Deutsche Bank's offices in Frankfurt on Thursday, amid allegations of money laundering against the country's flagship lender.
A total of 170 police officers, prosecutors and tax inspectors searched six of Deutsche Bank's offices on Thursday, Frankfurt's public prosecutor's office said in a statement.
"It is true that the police are currently investigating different locations of our bank in Germany. It's about a case related to the Panama Papers," Deutsche Bank said in statement Thursday, according to a Google translation.
The public prosecutor's office in Frankfurt said an evaluation of data from the Panama Papers had triggered suspicion that the bank may have helped customers to create so-called "Offshore companies" in tax havens around the world.
In 2016 alone, more than 900 customers with a business volume of 311 million euros were thought to have been cared for by a Deutsche Bank subsidiary based in the British Virgin Islands, the prosecutor said.
Summary Source | FAQ | Feedback | Top keywords: Bank#1 Deutsche#2 office#3 Papers#4 prosecutor#5
Post found in /worldnews, /AutoNewspaper, /news, /NBCauto, /BitcoinAll and /Bitcoin.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
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IBM signs $1 Billion contract with Australian Govt. to develop blockchain

This is the best tl;dr I could make, original reduced by 11%. (I'm a bot)
Computing giant IBM has signed a whole-of-government purchasing agreement with the Australian federal government, worth an estimated $1 billion over its five-year lifespan.
According to CCN, the mammoth deal is Australia's latest attempt to make good on its goal to become one of the world's "Top-three digital governments" by 2025 by investing in research into blockchain technology, as well quantum computing and artificial intelligence.
"This agreement is a testament to our forty-year partnership with the Australian Government. It shows trust and belief in our ability to transform and provide world-leading capabilities, leveraging our investments locally in AI, blockchain, quantum and cloud. We look forward to helping the Australian Government to re-define the digital experience for the benefit of all Australians."
As CCN has previously reported, IBM has emerged as a major player in the enterprise blockchain space.
Just this month, IBM-powered blockchain platform we.
Trade hosted live trades between four major European financial institutions, including Deutsche Bank and HSBC. Government signs mammoth five-year IT deal with IBM https://t.
Summary Source | FAQ | Feedback | Top keywords: government#1 blockchain#2 Australian#3 IBM#4 Trade#5
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German Stock Exchange is considering offering cryptocurrency products. It plans to move majority of its post-trade services to a blockchain, and focus on creating a system to transfer securities and move commercial bank money, while still ensuring cross-jurisdictional compliance with regulators.

This is the best tl;dr I could make, original reduced by 52%. (I'm a bot)
"Before we move forward with anything like bitcoin we want to make sure we understand the underlying transaction which isn't the easiest thing to do."
While CME Group and Cboe Global Markets both launched bitcoin futures trading last December, Tessler further said during the event that Deutsche Boerse is "Not at the same stage."
The firm, he said, is trying first to understand the volatility of the bitcoin market and making sure clients and regulators are "In line" before moving forward with any offerings, he added.
While a move into offering bitcoin products is so far not certain, the exchange has already been active in the blockchain space.
Last June, Deutsche Boerse revealed details to CoinDesk about its plan to move the majority of its post-trade services to a blockchain.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Summary Source | FAQ | Feedback | Top keywords: blockchain#1 move#2 bitcoin#3 Deutsche#4 CoinDesk#5
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A cryptocurrency without a blockchain has been built to outperform bitcoin | MIT technology review

This is the best tl;dr I could make, original reduced by 66%. (I'm a bot)
The rally began in late November, after the IOTA Foundation, the German nonprofit behind the novel cryptocurrency, announced that it was teaming up with several major technology firms to develop a "Decentralized data marketplace."
Though IOTA tokens can be used like any other cryptocurrency, the protocol was designed specifically for use on connected devices, says cofounder David Sønstebø.
Sønstebø says his team pursued an alternative approach after deciding that blockchains are too costly-it has recently cost as much as $20 per Bitcoin transaction because of high demand-and inefficient to operate at the scale required for the Internet of things.
Part of Sønstebø's issue with Bitcoin and other blockchain systems it that they rely on a distributed network of "Miners" to verify transactions.
But as Sønstebø notes, IOTA is still in "Very early-stage beta." And the high-profile names participating in its data market pilot-including Microsoft, Deutsche Telekom, and Fujitsu-suggest IOTA is onto something.
In recent months some prominent members of the cryptocurrency research community have expressed reservations about IOTA's design and overall security.
Summary Source | FAQ | Feedback | Top keywords: IOTA#1 Sønsteb#2 transaction#3 data#4 cryptocurrency#5
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'Perfect storm': Global financial system showing danger signs, says senior OECD economist

This is the best tl;dr I could make, original reduced by 83%. (I'm a bot)
The transformation of this corner of the market into a form of high-risk shadow banking shows how the lending system has been distorted by quantitative easing and negative interest rates.
The edifice of inflated equity and asset markets is built on the premise that interest rates will remain pinned to the floor.
While banks now have high capital buffers, the risk has migrated: to investment funds concentrated in crowded trades.
Deutsche Bank has advised clients to take out June 2018 "Put" options on the S&P 500 - a hedge against a market slide - arguing that the rally looks stretched and that risk parity funds will amplify any correction.
They cannot hold rates near zero as inflation pressures build, but they cannot easily raise rates either because it risks blowing up the system.
Global finance has become so sensitive to monetary policy that central banks risk triggering a downturn long before they have built up the safety buffer of 400 to 500 basis points in interest rate cuts needed to fight recessions.
Summary Source | FAQ | Feedback | Top keywords: Bank#1 market#2 rate#3 risk#4 rise#5
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Deutsche Bank Strategist Believes Fiat Money Will Soon End Its Reign

This is the best tl;dr I could make, original reduced by 63%. (I'm a bot)
During the last couple of months, the price surges of digital currencies like Bitcoin and Ethereum have attracted the attention of numerous banks, governments and other financial institutions.
The Deutsche Bank, through its lead strategist Jim Reid, is the latest to express its opinion on the future of the financial market.
In a recently written paper, Jim Reid discusses what he refers to as 'the start of the end of fiat money'.
According to Reid, the dominance of the world's current fiat-based currency system that is no longer based on gold is both unstable, and prone to deal with aspects such as high inflation.
According to Reid, if inflation becomes uncontrollable, than this will likely bring onwards the end of paper money, as people throughout the world will lose faith in it as it currencies continue to lose their value.
Some choose to be supportive of digital currencies and their increasing popularity, whereas others believe that they mere tools for money laundering, bound to disturb the financial market.
Summary Source | FAQ | Feedback | Top keywords: currency#1 financial#2 Reid#3 money#4 Bank#5
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Bitcoin Finds a Home in Cash-Loving Germany

This is the best tl;dr I could make, original reduced by 78%. (I'm a bot)
"It's a technology driven by anarchists who wanted to get rid of banks, and now the banks are promoting the technology," said Shermin Voshmgir, founder of BlockchainHub, a Berlin-based think tank that advocates for blockchain and the decentralized web.
Germany's Deutsche Bank AG and Bertelsmann SE, among the biggest investment banks and media companies in the world, are both looking to integrate blockchain into their operations, according to company insiders.
A 2016 study in the International Journal of Central Banking showed that Germans used cash for 82% of transactions and 53% of all payments by value-far more than American, British or French consumers.
Jörg Platzer, a German information architect with 30 years of experience, calls his Kreuzberg bar Room 77 "The first bricks 'n' mortar business ever [to have] accepted Bitcoin" and says the Stammtisch there on the first Thursday of every month is "The longest running Bitcoin meetup on earth as far as we know."
The excitement around cryptocurrencies and blockchain now reaches from that Berlin scene to the biggest bank in Frankfurt.
Blockchain "Is a fabulous enabling technology that will help optimize our existing business but more importantly will open up new revenue streams," said Thomas Nielsen, Deutsche Bank's chief digital officer for transaction banking.
Summary Source | FAQ | Feedback | Top keywords: Bank#1 Berlin#2 German#3 bitcoin#4 Germany#5
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Bitcoin's share of the cryptocurrency universe drops to a record low 36%

This is the best tl;dr I could make, original reduced by 51%. (I'm a bot)
Moscow officials say that President Vladimir Putin has commissioned work on establishing a cryptocurrency, as state-run Russian institutions rush to embrace blockchain, the shared ledger technology on which bitcoin and other digital currencies are based.
Sergei Glazev, an economic adviser to Mr Putin, told a recent government meeting that a cryptorouble would be a useful tool to get around international sanctions.
He added that the cryptocurrency would be "The same rouble, but its circulation would be restricted in a certain way", allowing the Kremlin to track its every move.
Following a meeting in the summer with Vitalik Buterin, the Russian-born founder of cryptocurrency Ethereum, Mr Putin ordered his cabinet to come up with a framework for regulating them.
Following our conspiratorial comments that wondered if Bitcoin wasn't a secretive ploy by the BOJ - which has had a far more permissive approach to bitcoin cryptocurrencies than its central bank peers - to boost Japanese animal spirits, which had been squashed by three decades of chronic deflation and disenchantment with rigged equities.
Today, Deutsche Bank poses a similar question when it asks "Will Bitcoin ignite the"speculative spirit" of Japanese people?".
Summary Source | FAQ | Feedback | Top keywords: bitcoin#1 cryptocurrency#2 Putin#3 Japanese#4 Glazev#5
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China’s central bank has begun cautiously testing a digital currency. What effect will this have on NEO?

This is the best tl;dr I could make, original reduced by 77%. (I'm a bot)
China's central bank is testing a prototype digital currency with mock transactions between it and some of the country's commercial banks.
While some other central banks, including the Bank of England, the Bank of Canada, Deutsche Bundesbank, and the Monetary Authority of Singapore, are studying digital fiat currencies, China's test appears to be the first of its kind anywhere in the world.
One of the main concerns voiced by other central banks looking at digital fiat currencies is that they could undermine the commercial banking system by making it possible for anyone to have an account with the central bank.
In a paper published in Tsinghua Financial Review, an academic journal, and posted online recently, Yao Qian, deputy director of the Technology Department of the People's Bank of China, wrote that a digital currency could be integrated into the existing banking system, with commercial banks operating digital wallets for the central bank's currency.
"The ownership of digital currency can be verified directly by the issuing bank, so as to realize peer-to-peer cash transaction[s]," Yao writes.
Officials from the People's Bank of China declined to provide any official comment on the development of the digital currency or plans for its use.
Summary Source | FAQ | Feedback | Top keywords: bank#1 currency#2 digital#3 China#4 transaction#5
Post found in /Antshares, /technology, /Bitcoin, /BitcoinAll and /CryptoCurrency.
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China’s Central Bank Has Begun Cautiously Testing a Digital Currency - MIT Technology Review

This is the best tl;dr I could make, original reduced by 77%. (I'm a bot)
China's central bank is testing a prototype digital currency with mock transactions between it and some of the country's commercial banks.
While some other central banks, including the Bank of England, the Bank of Canada, Deutsche Bundesbank, and the Monetary Authority of Singapore, are studying digital fiat currencies, China's test appears to be the first of its kind anywhere in the world.
One of the main concerns voiced by other central banks looking at digital fiat currencies is that they could undermine the commercial banking system by making it possible for anyone to have an account with the central bank.
In a paper published in Tsinghua Financial Review, an academic journal, and posted online recently, Yao Qian, deputy director of the Technology Department of the People's Bank of China, wrote that a digital currency could be integrated into the existing banking system, with commercial banks operating digital wallets for the central bank's currency.
"The ownership of digital currency can be verified directly by the issuing bank, so as to realize peer-to-peer cash transaction[s]," Yao writes.
Officials from the People's Bank of China declined to provide any official comment on the development of the digital currency or plans for its use.
Summary Source | FAQ | Feedback | Top keywords: bank#1 currency#2 digital#3 China#4 transaction#5
Post found in /Economics, /Sino, /China_News, /NewsChina, /Antshares, /technology, /Bitcoin, /BitcoinAll and /CryptoCurrency.
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China’s Central Bank Has Begun Cautiously Testing a #DigitalCurrency: A digital fiat currency—one backed by the central bank and with the same legal status as a banknote—would lower the cost of financial transactions, thereby helping to make financial services more widely available

This is the best tl;dr I could make, original reduced by 77%. (I'm a bot)
China's central bank is testing a prototype digital currency with mock transactions between it and some of the country's commercial banks.
While some other central banks, including the Bank of England, the Bank of Canada, Deutsche Bundesbank, and the Monetary Authority of Singapore, are studying digital fiat currencies, China's test appears to be the first of its kind anywhere in the world.
One of the main concerns voiced by other central banks looking at digital fiat currencies is that they could undermine the commercial banking system by making it possible for anyone to have an account with the central bank.
In a paper published in Tsinghua Financial Review, an academic journal, and posted online recently, Yao Qian, deputy director of the Technology Department of the People's Bank of China, wrote that a digital currency could be integrated into the existing banking system, with commercial banks operating digital wallets for the central bank's currency.
"The ownership of digital currency can be verified directly by the issuing bank, so as to realize peer-to-peer cash transaction[s]," Yao writes.
Officials from the People's Bank of China declined to provide any official comment on the development of the digital currency or plans for its use.
Summary Source | FAQ | Feedback | Top keywords: bank#1 currency#2 digital#3 China#4 transaction#5
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How Central Banks Intend To Fight CryptoCurrencies

This is the best tl;dr I could make, original reduced by 63%. (I'm a bot)
As cryptocurrencies, which trade outside the banking system attract more capital, governments and central banks are devising ways to try and stop and or control their rise.
Last week, at the Bundesbank Policy Symposium, in a speech entitled "Frontiers in Central Banking - Past, Present and Future" Dr Jens Weidmann, President of the Deutsche Bundesbank and Chairman of the Board of Directors of the Bank for International Settlements gave a speech outlining some ideas on how to best address the challenges that cyrptocurrencies pose to central banks.
After explaining that central banks are creatures born of crisis in that they are designed to come to the rescue when there are financial crisis, Dr. Weidman, noted that market interventions by central banks often provide financial stability, but not with out creating additional risks.
One consideration might be that the central banks themselves would issue their own digital currencies- something that the central banks of Russia and China are considering.
If central banks created digital currencies it would make those holding their liquid assets in the form of central bank digital currencies, the public would have greater protection because "Central banks cannot become insolvent."
Will "Instant payment systems" run by central banks render public interest in private cryptocurrencies irrelevant or keep them at the fringe?
Summary Source | FAQ | Feedback | Top keywords: Bank#1 Central#2 Currency#3 Digital#4 system#5
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How Deutsche Bank Made a $462 Million Loss Disappear: "A dubious trade leads to a criminal trial for Europe's most important bank."

This is an automatic summary, original reduced by 94%.
At the Deutsche meeting, Faissola's team said it had come up with a miraculous solution: a new trade that would make Paschi's loss disappear.
Being the biggest bank in Germany makes Deutsche the most important bank in Europe, and the Paschi trial is an uncomfortable reminder that its operations, already with barely enough capital to meet industry standards, are threatened by persistent scandal.
Three years later, Deutsche made an even more emphatic attempt to buy its way into investment banking's culture and profits, acquiring Bankers Trust-a New York derivatives house notorious for its cowboy culture-for about $10 billion.
If longtime Wall Streeters gawked at first at the German interloper, they quickly recognized that Deutsche had adopted their aggression and then some: Mitchell and his deputies expanded Deutsche's London-based investment banking operation until it made half the bank's revenue by the turn of the century.
The switch meant that in 2008, when bank stocks tanked in the worldwide financial crisis, Paschi took all of the losses, which swelled from €180 million in early October to more than €300 million in the following weeks.
A summary of Deutsche Bank's own review of the suicide, seen by Bloomberg Businessweek, doesn't mention the note and says the review found no direct link between Broeksmit's death and his work at Deutsche.
Summary Source | FAQ | Theory | Feedback | Top five keywords: Deutsche#1 Bank#2 Paschi#3 Faissola#4 deal#5
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China’s Central Bank Has Begun Cautiously Testing a Digital Currency - The People’s Bank of China has developed a digital currency that’s designed to scale to the number of transactions made every day across the country.

This is the best tl;dr I could make, original reduced by 77%. (I'm a bot)
China's central bank is testing a prototype digital currency with mock transactions between it and some of the country's commercial banks.
While some other central banks, including the Bank of England, the Bank of Canada, Deutsche Bundesbank, and the Monetary Authority of Singapore, are studying digital fiat currencies, China's test appears to be the first of its kind anywhere in the world.
One of the main concerns voiced by other central banks looking at digital fiat currencies is that they could undermine the commercial banking system by making it possible for anyone to have an account with the central bank.
In a paper published in Tsinghua Financial Review, an academic journal, and posted online recently, Yao Qian, deputy director of the Technology Department of the People's Bank of China, wrote that a digital currency could be integrated into the existing banking system, with commercial banks operating digital wallets for the central bank's currency.
"The ownership of digital currency can be verified directly by the issuing bank, so as to realize peer-to-peer cash transaction[s]," Yao writes.
Officials from the People's Bank of China declined to provide any official comment on the development of the digital currency or plans for its use.
Summary Source | FAQ | Feedback | Top keywords: bank#1 currency#2 digital#3 China#4 transaction#5
Post found in /technology, /Futurology, /CryptoCurrency, /BitcoinAll and /Bitcoin.
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China Is Developing its Own Digital Currency

This is an automatic summary, original reduced by 80%.
At the same time as it builds up its own capabilities, the PBOC is increasing scrutiny of bitcoin and other private digital tenders.
Issuing digital currency will make it easier for the PBOC to monitor risk in the financial system and track transactions economy-wide, he said.
Bank of Canada, Deutsche Bundesbank and the Monetary Authority of Singapore are examining digital currencies.
Adding digital currency to cash in circulation can improve the speed, convenience and transparency of transactions.
For the PBOC, using blockchain, the technology that underpins the digital currency bitcoin, will allow it to trace transactions and collect "Real-time, complete and authentic" data to compile precise monetary indicators such as money supply growth, OKCoin's Duan said.
The PBOC creates cryptocurrency and transfers it to commercial banks when more liquidity is neededConsumers would top up digital currency from modified automated teller machines or from bank tellers and store it in a crypto wallet on their mobile phone or other deviceFor purchases, consumers wire from their person wallet to the merchant's accountThe merchant deposits the cryptocurrency into their commercial bank account.
Summary Source | FAQ | Theory | Feedback | Top five keywords: digital#1 Bank#2 PBOC#3 payment#4 money#5
Post found in /worldnews, /technology, /worldnewshub and /China.
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China Is Developing its Own Digital Currency - PBOC cryptocurrency could give unprecedented read on consumers

This is an automatic summary, original reduced by 80%.
At the same time as it builds up its own capabilities, the PBOC is increasing scrutiny of bitcoin and other private digital tenders.
Issuing digital currency will make it easier for the PBOC to monitor risk in the financial system and track transactions economy-wide, he said.
Bank of Canada, Deutsche Bundesbank and the Monetary Authority of Singapore are examining digital currencies.
Adding digital currency to cash in circulation can improve the speed, convenience and transparency of transactions.
For the PBOC, using blockchain, the technology that underpins the digital currency bitcoin, will allow it to trace transactions and collect "Real-time, complete and authentic" data to compile precise monetary indicators such as money supply growth, OKCoin's Duan said.
The PBOC creates cryptocurrency and transfers it to commercial banks when more liquidity is neededConsumers would top up digital currency from modified automated teller machines or from bank tellers and store it in a crypto wallet on their mobile phone or other deviceFor purchases, consumers wire from their person wallet to the merchant's accountThe merchant deposits the cryptocurrency into their commercial bank account.
Summary Source | FAQ | Theory | Feedback | Top five keywords: digital#1 Bank#2 PBOC#3 payment#4 money#5
Post found in /Futurology, /worldnews, /worldnewshub, /China and /technology.
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Was ist die Blockchain? Wie funktioniert bitcoin mixer BestMixer.IO (DE) Bitcoin mining with GUIminer tutorial - easy! - YouTube Die traurige Bitcoin Wahrheit - Traden, Fakten, Mining, Zukunft, - DOKU Deutsch 2014 sk2.eu ✔✔✔ BITCOIN PUMP! Ausbruch oder Fakeout? Größte News des Jahres von Binance?! Krypto News Deutsch

Vergleiche 37 Anbieter von Kryptowährungen in Deutschland basierend auf Preisen, Gebühren, Funktionen und weiteren Faktoren. Bitcoin FAQ (Frequently Asked Questions) will describe you the most interesting issues of concern which were met by Bitcoin users. Contents. 1 General information. 1.1 What is Bitcoin? 1.2 What are bitcoins? 1.3 Who invented Bitcoin? 1.4 How can I get bitcoins? 1.5 Does Bitcoin guarantee easy money? 1.5.1 Is Bitcoin an Internet scam? 1.5.2 If I install the client, can I earn? 1.5.3 Is Bitcoin ... Das Angebot an Bitcoin wurde zum dritten Mal in der Geschichte der Kryptowährung künstlich verknappt. Viele Beobachter erwarten einen Kursanstieg, doch erst einmal ging es mit dem Bitcoin-Preis steil nach unten. Was ist los? Finance Forward beantwortet die wichtigsten Fragen. Montagabend war ein großes Event für Bitcoin-Fans auf der ganzen Welt, denn es gab ein Die auf bitcoin.de zum Handel angebotenen Kryptowährungen sind nicht für alle Investoren geeignet. Stellen Sie daher unbedingt sicher, dass Sie die mit dem Handel von Kryptowährungen verbundenen Risiken vollständig verstanden haben und lassen Sie sich gegebenenfalls von einer unabhängigen und sachkundigen Person oder Institution beraten, bevor Sie den Handel aufnehmen. Ihre etwaigen ... Bitcoin ist eine sogenannte Kryptowährung, also ein digitales Zahlungsmittel. Aber wie kauft man eigentlich Bitcoins? FOCUS Online erklärt, wie's geht.

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Was ist die Blockchain?

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