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    Bitcoin Daily Discussion, March 09, 2018

    Bitcoin Daily Discussion, March 09, 2018


    Daily Discussion, March 09, 2018

    Posted: 09 Mar 2018 02:00 AM PST

    Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

    Daily threads are fast paced! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

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    Your price screenshots and repetitive submissions are being removed, so please stop submitting them!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    Got scammed out of 70K... is there anything I can do?

    Posted: 08 Mar 2018 06:49 PM PST

    First off, Yes - I feel sheepish, yes had I spent more time researching it wouldnt of happened, Yes I realize that I am a moron for letting $70K USD slip out of my hands, so please dont remind me of that, I learned that lesson. The website was legit looking, I trusted it wouldnt come from googles top searches pointing to Reddit which then pointed to a scam from this user > https://www.reddit.com/user/jhkansen1

    Secondly, I lost my BTC after importing a private key (after I had sent my funds to a new wallet) into a wallet downloaded from electrumbtcp,com (DO NOT GO HERE.) I then transferred my funds BACK into Exodus but mistakenly didn't create a NEW address by clicking the ARROW on the right. This mistake cost me $70K USD.

    I got into cryptocurrency a few years ago, but not in a heavy sense, just as a merchant accepting BTC. I ran a large minecraft server and a small portion of our user base shopped in BTC back when it was $200-300. While this didn't give me anywhere near the $70K that I lost, it got me started. I then invested what I could into ETH early on and hodl'd it as long as possible. I wouldn't consider myself a "newbie" at trading, investing or mining for awhile. I've done several forked coins and I didn't, in my wildest dreams, think that it'd be a malicious wallet. I've been trained to "Send coins, get the private key - send funds back to newly created address" - I thought thats what I was doing.

    I know my funds are probably gone forever, I want to know how I can warn others, how I can report this to (whatever? country authorities) as a malicious website. I'm not looking for attention as much as I'm looking for possible help with bringing down this website.

    https://www.whois.com/whois/electrumbtcp.com

    For ref heres the wallet that stole my funds: https://live.blockcypher.com/btc/address/1EgaeuKXBs1kJGx68JtqhxeDGLsAxkDfbx/

    Can I get a upvote for awareness?

    • Edit 1: I have reported this to the French authorities (Though I am a USA resident I dont think anything will happen with it). I appreciate the kind words.

    • Edit 2: Any french law enforcement or lawyers that want to help?

    • Edit 3: After searching "BTCP Wallet" the reddit post came up > https://i.imgur.com/7hT0nCL.png The user https://www.reddit.com/user/jhkansen1 posted about it that it "was already available", I realize this was my fault for not fact checking this.

    • Edit 4: User is spending the BTC now > https://live.blockcypher.com/btc/address/1EgaeuKXBs1kJGx68JtqhxeDGLsAxkDfbx/ 5.0 sent to address https://live.blockcypher.com/btc/address/17PJew5bTxscbFGpL6MFTmZMM95mvjNFJL/

    • Edit 5: should I even bother reporting this to the FBI / police? Will they try to pin me for fraud or something for not reporting buying BTC? (crazy I know but I dont want a double hit here...)

    • Edit 6: It looks like user (jhkansen1) here on Reddit (https://www.reddit.com/user/jhkansen1) is alerting everyone to navigate to the scam website. Can I get in contact to find his IP / authorities? https://i.imgur.com/pk0Tw7r.png - it looks like its the same user that scammed people out of BCH and BTG - the same websites that are using the "electrum X . org/com" variables. These scammers seem to be pretty big and unconfronted, which doesnt make me feel good about where things are in the crypto realm.

    • Edit 7: Friendly and nice advice from an investing group on how to track / what to do:

      @Kainzo sorry to hear this. I'm sure you know this information already but watch these wallets carefully (below). They contain all your BTC. Try to see if you can set reminders or notifications on them to monitor activity. These wallets contain all your BTC (they won't add up to the same amount due to transaction fees). The pattern of the transfers definitely seem programmatic so I doubt you are the only victim. That being said, the scammers are human, too. Not sure if they'll HODL or want to liquidate in this dip. If they liquidate, then they will either 1) send to an exchange (you'll be able to identify wallet addresses that are linked to an exchange so keep an eye out for activity) in which case once you notice the activity you should alert the exchange immediately, or 2) they will sell it off locally with a platform like local bitcoins, in which case it will be highly improbable to trace. If it is option 1, if the exchange cooperated with you, then you may be able to retrieve your lost funds. Fiat-to-coin exchanges like Coinbase should be on your side as they are under strict regulation to avoid processing dirty money, and they are well aware of this. I doubt, though, that the scammers will go the online dump route, due to the transparency and risk I just mentioned, but at this point it's still worth the watch. Even if they go on some other exchange, still contact the exchange immediately. Because in that case they may be trying to transfer out in something like Ethereum, and you will have no way of tracking it once it leaves the exchange.

    1. https://blockchain.info/address/1HURrZxv8zAPrwxUAfsZt5G17RKQ3vChhQ
    2. https://blockchain.info/address/12JrtjH7uQZXo5wYGvh9DbXrGgknWgfZy2
    3. https://blockchain.info/address/15wfjRDUrxWgY81xcR8gcrhiDxgvLyDy9i
    4. https://blockchain.info/address/1C5TTzVnTiNdFBLcZE6DvhcgQyjr29u3dU
    5. https://blockchain.info/address/142zTd1ZJnubDzZhjDaLQbijqCXx8ivvtX
    • Edit 8: Another mod from Cosmic Trading on Discord

      @Kainzo wallet addresses associated with exchanges will usually be dumped into a central wallet owned by the exchange or some subwallet that is also owned by the exchange, which contains other people's bitcoin too. If blockchain.info recognizes the address it will display which exchanges wallet it is. If not you can try to google the wallet address you suspect to be and exchange and it should provide some transparency. You can try to alert authorities to identify the user who stole from you but it is unlikely they will be able to do anything about it since the scammer probably resides outside your country and law enforcement only has jurisdiction within, unless your case is escalated to some FBI equivalent in France Even so, it is unlikely they will escalate or prosecute for a financial crime this size. Not saying $70k is small by any means, but the type of cases they deal with are more money laundering to the extent of millions

    • Edit 9: Someone asked me to post my LTC address (LXzurqezb6PZsnJvoyiYfD5HnzLhFf6nPh)

    • Edit 10: Going to bed feeling very defeated. Unsure how to push forward in this scene and feeling wholesomely stuck.

    submitted by /u/Kainzo
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    TD Ameritrade Said Millennials Are Excited About Two Things: Bitcoin and Cannabis

    Posted: 08 Mar 2018 03:26 PM PST

    So Yeah This Happened ..

    Posted: 08 Mar 2018 08:51 AM PST

    Our cryptocurrency events calendar is finally COMPLETE! Let us know what you think, it was your feedback that prompted us to build it in the first place, so thank-you.

    Posted: 09 Mar 2018 12:50 AM PST

    Why is a lawyer trading my stolen Bitcoin?

    Posted: 08 Mar 2018 07:52 AM PST

    I lost 4.5 BTC during the Mt Gox hack in 2014. I accepted my loss and moved on. I got back into crypto late 2017. Why is a lawyer in possession of my stolen Bitcoin and trading it? Is there anyway I can get it back?

    submitted by /u/litecoinfanboi
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    Just invested $500 into Bitcoin

    Posted: 08 Mar 2018 09:15 PM PST

    What do I Do now.

    I excited and scared and happy all at once

    submitted by /u/nomadlive
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    We now accept Bitcoin Lightning Payments on mainnet!

    Posted: 08 Mar 2018 06:10 PM PST

    Website: https://hodlmonkey.com/

    Node: 039376f846cb4e137f3474baa7fbe74ec627745c7d5c54935b99fbb1b60a62c9b3@159.65.162.130:9735

    10% off when you pay with Lightning ;) Give it a try, and let us know what you think!

    submitted by /u/hodlmonkey
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    Market crashes being caused by Mt Gox trustee is possibly the most bullish news we've ever encountered

    Posted: 08 Mar 2018 04:27 AM PST

    The fact that the market absorbed the dump at 6k USD shows there's enough bulls out there to withstand almost anything. This news could be the start of a huge, huge bull run with potential implications of mass adoption

    submitted by /u/domjellytree
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    Dear Mt. Gox Trustee: Please market sell the remaining 160K BTC in your custody immediately. I am ready to buy.

    Posted: 08 Mar 2018 10:34 AM PST

    A guy can hope...

    submitted by /u/Kinolva
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    What is the best method to monitor the amount of Bitcoin still in the position of the Mt Gox Trustee?

    Posted: 08 Mar 2018 09:29 PM PST

    Is that even possible?

    submitted by /u/forexross
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    Mtgox is the best news this year, so why are people panicking?

    Posted: 09 Mar 2018 01:21 AM PST

    I don't understand why not more people are happy about it. It proves that -The market crash was not due to a bubble or of people losing trust in bitcoin. - It will prevent further crashes by the same guy, and I am sure there are orgs,whales,countries that are looking to stock crypto and who is better to deal with then an organization with a legal obligation to get rid of it and have a record of being an idiot at selling bitcoin for way cheaper than the current price. I know of a whale looking to buy $400M in BTC and he didn't know who to contact, so he tried people in his network with no avail. The 200,000 BTC will be absorbed so quickly unless this trustee is legally obligated to continue being an idiot.

    What am I getting wrong?

    submitted by /u/rblocksv1
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    PBOC’S Zhou Xiaochuan: No Imminent Regulatory Measures On Digital Currency

    Posted: 09 Mar 2018 01:54 AM PST

    I officially sold 100% of my bitcoin holdings today. I'm off the ride, and I'm kindof sad about it. Just wanted to tell somebody.

    Posted: 08 Mar 2018 01:54 PM PST

    (This is not a story of me losing faith in bitcoin. The opposite.)

    I first got involved in bitcoin in around 2013. I bought my first bitcoin for about $120.

    From 2014-2017, I did one of the smartest things I've ever done, and set up an automatic weekly buy of $50, telling myself that this was money I wasn't going to touch EVER. Bitcoin morpheus and all that.

    Early last year things started getting...nervous for me. The few thousand dollars became >$10,000, and I started thinking "holy shit, I have more than $10,000 of magic internet money. I am an idiot not to sell this!?", but I just held strong, reminding myself that I was a hodler. I was in this for the long haul, and I wasn't fucking selling.

    In November/December things started getting really nuts, as my holdings ballooned (I also had a non-insignificant amount of ethereum), to around $200,000. My wife, who is extremely supporting of me, was completely supportive of me hodling through EVERYTHING.

    I started looking at yachts. At this point, buying a $120,000 yacht (a 40 foot sail cruiser, which would fulfill one of my life goals of sailing around the world) was possible. I wasn't going to sell, but it was completely nuts to look in my account and see an amount in there that could legitimately make this dream come true today.

    But still, I told myself: either this is going to be a global currency, or it's going to be worth nothing. HODL strong.

    At this point, I moved all of my funds to cold storage (hodl storage!) in the form of multiple cryptosteels distributed across multiple safety deposit boxes (with redundancy).

    I'm a holder.

    In January, I set up one of the first lightning nodes in the world on mainnet, and used some of the dust I still had sitting in coinbase to buy myself an (expensive, haha) t-shirt from blockstream. "Don't trust Verify". I love that shirt.

    Well here's what happened in the meantime: my house went up for sale (I'm a renter)...and the amount of money I had in bitcoin meant that I could just buy it. Actually even better: the house I'm buying has a small guest house/casita in the back, so my bitcoin isn't actually buying the house, it's making a large enough downpayment on the house that the rental income from the casita pays ALL of the mortgage on a half a million dollar house.

    So this is where my story ends (for now). This is my moon. I'm cashing out, and because of my cashing out, I feel like I'm exiting the system to some degree. I can live for free forever, and when I feel like it, I have a half a million dollars in land.

    The first thing I'm doing is buying back in (aggressively), but it's going to take YEARS to get back to where I started.

    This stuff is the future. There is no doubt in my mind about that, but at the same time: I still have to live in the world.

    To all the people who believe in this technology with me, the ones who are willing to buy my coins because you, like me, believe that they're worth $11k (no, $10.5, no $10.7, no $11.7k, no $9k, no $10.5k, no $50k): thank you.

    I'll be back soon to buy yours.

    submitted by /u/hodlthedoooor
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    MTGOX REMEMBER! Not your keys? Not your Bitcoin. Featuring Andreas Antonopoulos

    Posted: 08 Mar 2018 07:41 AM PST

    [Breaking News] Wyoming lawmakers say cryptocurrency tokens exempted from securities laws

    Posted: 08 Mar 2018 11:54 PM PST

    Full article: https://cryptonewsmagnet.com/cryptocurrency-tokens-exempted-from-securities-laws/

    The Wyoming Senate and House legislators have passed a bill for the exemption of cryptocurrency tokens from securities regulations in cases where they are used as utility tokens rather than investment tools.

    submitted by /u/CryptoNewsMagnet
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    As we approach 1000 #Bitcoin lightning nodes, can someone please take/render a zoomed in full graphical map of the network for history. I don’t know how to go about doing this, trying to find someone who could do it. :) We are at 985. Congratulations #Bitcoin��

    Posted: 09 Mar 2018 01:12 AM PST

    Arizona Advances Groundbreaking Bill to Accept Bitcoin for Taxes

    Posted: 08 Mar 2018 10:21 AM PST

    Bitcoin, Like Email, Will Become a Basic Utility

    Posted: 08 Mar 2018 07:13 AM PST

    U.S. Marshal to Auction 2,170 BTC on March 19th

    Posted: 08 Mar 2018 10:22 PM PST

    Bitcoin classes are coming to Chicago-area universities

    Posted: 09 Mar 2018 01:32 AM PST

    The real wealth transfer from bitcoin comes at the flat end part of the adoption S-curve when Hodler's use their BTC to purchase productive capital assets and then earn BTC with them.

    Posted: 08 Mar 2018 03:32 PM PST

    It happens a little at a time but this is how the economy switches to BTC and how the actual transfer of real wealth happens, people trade it for BTC voluntarily.

    submitted by /u/MakeTotalDestr0i
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    Maybe I'm slow - but isn't the fact that this dip is only caused by dumping and a bit of panic selling a good thing in the end?

    Posted: 08 Mar 2018 10:09 AM PST

    I mean, all it means at the root is that some whale has lots of coins to sell, so naturally price will reflect that but theres;

    -No bad news about the tech (there never is) -No hacks -No bans or FUD from any government

    It's just large quantities of coins being sold. That's it. Just something to keep in mind. I think the fact that this is the only reason the market has dipped over the last couple of days is good news.

    submitted by /u/uacGALACTIC
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    International Women’s Day : The Women Shaping Cryptocurrency

    Posted: 08 Mar 2018 12:15 PM PST

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