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Coinbase Hit by Lawsuit Over Alleged Insider Trading - PayPal Files Patent to Improve Cryptocurrency Transaction Times - Brazil Regulators Move to Block Bitcoin Mining Investments

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End of day summary - 09/11

The Dow rose 131.06, or 0.48%, to 27,665.64, the Nasdaq lost 66.05, or 0.60%, to 10,853.55, and the S&P 500 advanced 1.78, or 0.05%, to 3,340.97.
Traders at /thewallstreet cheered as volatility returned to the stock market.
The major averages finished Friday's trading in mixed fashion, as dip buyers provided support for the Dow and the continued tech selloff made the Nasdaq the laggard once again. The chances for another round of fiscal stimulus ahead of the election were hurt yesterday after Democrats stopped the passage of the "skinny" GOP package, but the U.S. economy looks poised for a strong rebound in Q3, corporate earnings continue to largely overshoot pessimistic forecasts and the Fed remains "all in," leaving investors to mull the cross-currents.
Similar to the days before, today's price action was technically-oriented given the absence of market-moving news and the losses in stocks like AAPL, -1.3%, AMZN, -1.9%, and MSFT, -0.7% on no specific corporate news. Apple shares fell 7.4% this week.
The difference today was that their losses were offset by relative strength in the cyclical sectors, namely industrials (+1.4%), materials (+1.3%), and financials (+0.8%). Still, when Apple and Amazon are down more than 1.0%, there must be more winners than losers to make a meaningful difference.
There were more of the latter on Friday, as declining issues outpaced advancing issues at the NYSE and Nasdaq. The information technology (-0.8%), consumer discretionary (-0.3%), and communication services (-0.3%) sectors ended the day in negative territory due to their exposure to the mega-cap stocks.
Interestingly, the S&P 500 was down as much as 0.9% intraday and fell below its 50-day moving average (3322). A broad rebound in the afternoon, however, helped the benchmark index turn positive and close above the key technical level.
In TikTok news, President Trump said that the deadline established for China's ByteDance to sell video-sharing service TikTok's U.S. operations would not be extended, Reuters reported. "It'll either be closed up or they'll sell it," the president told reporters, adding, "There will be no extension of the TikTok deadline." MSFT in partnership with WMT and Oracle have been seen as the leading suitors to purchase TikTok's operations in the U.S., Canada, Australia and New Zealand.
Subsequently, Reuters reported that Chinese officials are so opposed to a forced sale of TikTok's U.S. operations that they would prefer to see the app shut down in the U.S. over that conclusion. Reuters noted that China was willing, if needed, to use revisions it made to a technology exports list on Aug. 28 to delay any deal reached by ByteDance.
Electric vehicle hopeful NKLA continued its fight this morning with a short-seller, which now appears to be "short-sellers." Nikola issued a statement in response to claims made about the company by activist short-seller Hindenburg Research yesterday, calling the firm's report "a hit job for short sale profit driven by greed." Nikola, which added that it has "nothing to hide and we will refute these allegations," announced that it has retained law firm Kirkland & Ellis to evaluate potential legal recourse and intends to bring the actions of the short-seller, together with evidence and documentation, to the attention of the SEC. Following the company's press release regarding the response, Andrew Left's Citron Research said via Twitter, "Congrats to Hindenburg for exposing what appears to be a total fraud with $NKLA. Citron will cover half of all legal expenses. You can't SLAPP the truth away. Explains why Milton sold at $10 this June $NKLA response warrants an SEC investigation to maintain integrity of EV mkt." After having dropped 11% on Thursday, Nikola shares fell a further 14.5%.
Meanwhile, CNBC reported that AAPL has updated its App Store guidelines ahead of the release of iOS 14, with one major revision relating to game streaming services. The tech giant said in its revised guidelines that services such as Google Stadia (GOOG) and Microsoft xCloud are explicitly permitted, though under the condition that games offered in the service must be downloaded directly from the App Store, not from an all-in-one app.
Among the noteworthy gainers was Shares of ORCL, which was in focus after the company reported what Barclays analyst Raimo Lenschow called a "surprisingly strong beat" and growth on licenses despite the continued macro uncertainty. NOG, which rose 1.3% after acquiring interests in the Delaware Basin and raising Q3 production guidance. Also higher was CX, which gained 8.3% in New York after Morgan Stanley analyst Nikolaj Lippmann upgraded the stock to Overweight from Equal Weight.
Among the notable losers was AMRS, which dropped 25.8% after responding to a lawsuit filed by Lavvan against the company for patent infringement and trade secret misappropriation. Also lower was CHWY, which declined 9.8% after reporting some cats have tried to take over the company with whiteclaws.
Despite a blowout fiscal Q4 report, PTON were 4.2% lower following last night's from the fitness products and services provider.
Elsewhere stocks were higher, with the Shanghai composite up 0.79% to around 3,260.35 while the Shenzhen component rose 1.57% to about 12,942.95. Hong Kong’s Hang Seng index advanced 0.78% to end its trading day at 24,503.31.

Currency

The U.S. Dollar Index (93.35, +0.01, unch) reclaimed its overnight loss, gaining 0.7% for the week.

Treasury

U.S. Treasuries ended the abbreviated week with modest gains across the curve. The cash session started with some light selling for the second day in a row, but the market recovered from the early dip with ease.

Commodity

Gold slipped on Friday on a lack of further stimulus from the European Central Bank and the U.S. government, but for the week the safe-haven metal was set to end higher. Crude remained on track for a second weekly drop as investors expected a global glut to persist if demand weakens further with rising COVID-19 cases in some countries.

Crypto

Bitcoin is struggling to gather upside traction despite repeated defense of support at $10,000. The top cryptocurrency’s sell-off from the August high of $12,476 looks to have come to a halt near $10,000 over the past seven days.

YTD

  • FAAMG + some penny stocks +21.0% YTD
  • Spoos +3.4% YTD
  • Old man -3.1% YTD
  • Russy -10.3% YTD

CPI

Total CPI increased 0.4% m/m while core CPI, which excludes food and energy, also rose 0.4%. Those gains left total CPI up 1.3% yyr and core CPI up 1.7% yyr.
The key takeaway from the report, which featured the largest increase in the index for used cars and trucks (+5.4%) since March 1969, is that the increase in the all items index was broad-based; nonetheless, annual inflation rates are still running well below 2.0%, so there is still more noise than bothersome policy signal in the August report.

IPO (Most Anticipated)

Week of Sep14-18
  • Company: AMWL Amwell (NYSE) | Leading telehealth company enabling digital delivery of care for healthcare’s key stakeholders | Initial Shares: 35.0 M | Initial Range: $14.00-16.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Morgan Stanley, Goldman Sachs, Piper Jaffray, UBS, Credit Suisse, Cowen
  • Company: BNL Broadstone Net Lease | REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties | Initial Shares: 33.5 M | Initial Range: $17.00-19.00 | Priced On: NA | Opened: NA | Underwriters: Lead: J.P. Morgan, Goldman Sachs, BMO Capital Markets, Morgan Stanley, Capital One Securities, Truist Securities
  • Company: FROG JFrog (Nasdaq) | Developer of an end-to-end, hybrid, universal DevOps platform | Initial Shares: 11.6 M | Initial Range: $33.00 -37.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Morgan Stanley, JP Morgan, BofA Securities
  • Company: SNOW Snowflake (NYSE) | Developer of a data cloud platform that enables customers to consolidate data into a single source to drive business insights | Initial Shares: 28.0 M | Initial Range: $75.00-85.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Goldman Sachs, Morgan Stanley, JP Morgan, Allen & Co, Citigroup
  • Company: STEP StepStone Group (Nasdaq) | Global private markets investment firm | Initial Shares: 17.5 M | Initial Range: $15.00-17.00 | Priced On: NA | Opened: NA | Underwriters: Lead: JPMorgan, Goldman Sachs, Morgan Stanley, Barclays, UBS Investment Bank
  • Company: SUMO Sumo Logic (Nasdaq) | Pioneer of Continuous Intelligence, a new category of software, which enables organizations to address opportunities presented by digital transformation and cloud computing | Initial Shares: 14.8 M | Initial Range: $17.00-21.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Morgan Stanley, JP Morgan, RBC Capital, Jefferies
  • Company: U Unity Software (NYSE) | Leading platform for creating and operating interactive, real-time 3D content | Initial Shares: 25.0 M | Initial Range: $34.00-42.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Goldman Sachs, Credit Suisse, BofA, Barclays, William Blair
Week of Sep21-25
  • Company: PLTR Palantir Technologies (NYSE) | Software developer for defense, intelligence agencies, law enforcement, and commercial enterprises | Initial Shares: 244.2 | Initial Range: NA | Priced On: NA | Opened: NA | Underwriters: Lead: Direct Listing

What's next?

Beer o'clock
Summary scraped from the interweb. Took 0.41 seconds.
submitted by hibernating_brain to thewallstreet [link] [comments]

Crypto Weekly News

What important crypto events happened last week?
Cryptocurrencies
Monero Presents New Legal Framework In Defense Of Privacy Coins
Riccardo Spagni presented the result of more than a year's work. A whitepaper titled "Anti-Money Laundering Regulation of Privacy-Enabling Cryptocurrencies" has been published. The document was conceived as a new legal framework to protect confidential coins such as Monero, Zcash, Dash, Komodo, and others.
Tether Is Moving 1 Billion More USDT Coins From TRON To Ethereum Blockchain
The total supply of coins will not change. The company carried out the swap on September 15, coordinating its actions "with a third party". In recent weeks, this is the second such stablecoin transfer between blockchains — on August 20, the issuer also moved USDT 1 billion from Tron to Ethereum. Another piece of news about Tether: USDT capitalization exceeded $15 billion, having increased by $3 billion in just a month.
Projects and Updates
Kraken Receives Licence To Establish First U.S Digital Assets Bank
The Kraken Bitcoin exchange was the first in the United States to receive the status of a special purpose depository institution (SPDI), giving it the functions of a traditional financial institution. The corresponding application of the Californian company was approved by the Wyoming Banking Council. This will allow Kraken to opt-out of third-party vendors to perform certain banking functions on its own.
Official Ethereum Proof-of-Stake Algorithm Proposal Published
Ethereum Foundation Lead Developer Danny Ryan has published the official proposal EIP-2982, which suggests the launch of Ethereum 2.0 and the transition from the Proof-of-Work consensus algorithm to Proof-of-Stake. If approved by other leading developers, it will be possible to launch Serenity, Ethereum 2.0 phase zero. Within its framework, the Beacon Chain will be activated, which will use Proof-of-Stake.
Uniswap Provides All Its Users With $1.200
Leading decentralized exchange (DEX) Uniswap has released the UNI governance token. It was listed on the Binance exchange almost immediately. About 13000 Uniswap users have already requested tokens.
Regulations
New Draft Law Suggests The European Union Is Set To Regulate Cryptocurrencies
The European Commission proposed to establish a legal framework for cryptocurrencies, security tokens, and stablecoins by analogy with the requirements for traditional financial instruments. This is stated in the Cryptocurrency Asset Markets Bill. The bill proposes to treat cryptocurrency assets like any other financial instrument. According to the European Commission, this will provide legal clarity.
Digital Assets Recognized As Securities In Nigeria
The regulator clarified that cryptocurrencies offer public alternative investment opportunities. Digital assets can be used as a medium of exchange, settlement, and accumulation. In order to protect investors from risks and not violate the integrity of the market, crypto assets must be controlled on an equal basis with securities. The main task of regulation is not to discourage the development of new technologies, but to ensure fair market competition and adherence to ethical standards.
Hacking
Japanese Crypto Exchange Sues Binance for Role in $63 Million Bitcoin Hack
The Japanese company Fisco Cryptocurrency Exchange, Inc has filed a US lawsuit against Binance Holdings Ltd., accusing it of providing a service to launder cryptocurrency stolen from the Zaif exchange in 2018. Fisco acquired Zaif in 2018 shortly after the hack. Over $9 million in stolen assets could have been funneled through Binance. The company notes that analysts were able to track the movement of all stolen $63 million to one bitcoin address. Subsequently, 1,451.7 BTC were sent from it to Binance addresses.
New Virus Attacks Microsoft SQL Database Servers For Monero Mining
Tencent's cybersecurity division has discovered a new miner virus called MrbMiner. The tactics of the virus are quite simple — the botnet scans the available IP addresses in search of Microsoft SQL servers, and if it detects such, it tries to log in under the administrator account using a brute-force password. If successful, the virus downloads the assm.exe file, which implements a reboot mechanism and creates a special account for hackers to access the server. After that, MrbMiner downloads a miner for mining the anonymous cryptocurrency Monero (XMR).
Mass adoption
Bahamas Geared to Launch Central Bank Digital Currency
The Bahamas wants to be the first country in the world to roll out a government-backed virtual currency nationwide and announced they will launch a central bank-issued cryptocurrency (CBDC) in October. The digital currency, dubbed "sand dollar", is designed to increase the financial availability of remote islands within the archipelago state.
Alibaba On Track To Be The Largest Blockchain Patent Holder By End Of 2020
Computer giant IBM risks losing the title of the largest blockchain patent holder to the Chinese corporation Alibaba. Since the beginning of the year, Alibaba has published ten times more patents than its closest competitor, IBM. According to analysts, if the pace is maintained, the Chinese corporation will become the largest patent holder by the end of the year.
France Begins Central Bank Digital Currency Testing
Société Générale — one of the largest financial conglomerates in Europe — will test the central bank digital currency (CBDC) on the Tezos blockchain. The Bank of France, as a result of the selection of partners, chose the Forge blockchain platform to test CBDC for interbank settlements. As part of the experiment, the feasibility of digitizing financial securities and the possibility of settlements on them using CBDC will be studied. In addition to Nomadic Labs, several technology service providers and consultants will participate in the testing.
Kazakhstan Will Develop A Blockchain Service For Ensuring The Security Of Personal Data
It will allow citizens of the country to control the use of their personal data. The service is planned to be introduced by the end of this year.
People
Kiss Rock Group Member Is Ready To Buy Bitcoin
Gene Simmons supported Cameron Winklevoss's request to use bank accounts to buy Bitcoin and Ether. The co-founder of Gemini tweeted that people who do not have access to banking services find it difficult to become the owners of cryptocurrency and that they need to take advantage of the benefits. The musician commented as follows: "I will. I am." For this moment, the most common opinion on Twitter is that Simmons is already buying cryptocurrency and will continue to increase the amount of Bitcoin he owns.
That’s all for now! For more details follow us on Twitter, subscribe to our YouTube channel, join our Telegram.
submitted by CoinjoyAssistant to CryptoCurrencies [link] [comments]

Crypto Weekly News — September, 18

What important crypto events happened last week?

Cryptocurrencies

Monero Presents New Legal Framework In Defense Of Privacy Coins
Riccardo Spagni presented the result of more than a year's work. A whitepaper titled "Anti-Money Laundering Regulation of Privacy-Enabling Cryptocurrencies" has been published. The document was conceived as a new legal framework to protect confidential coins such as Monero, Zcash, Dash, Komodo, and others.
Tether Is Moving 1 Billion More USDT Coins From TRON To Ethereum Blockchain
The total supply of coins will not change. The company carried out the swap on September 15, coordinating its actions "with a third party". In recent weeks, this is the second such stablecoin transfer between blockchains — on August 20, the issuer also moved USDT 1 billion from Tron to Ethereum. Another piece of news about Tether: USDT capitalization exceeded $15 billion, having increased by $3 billion in just a month.

Projects and Updates

Kraken Receives Licence To Establish First U.S Digital Assets Bank
The Kraken Bitcoin exchange was the first in the United States to receive the status of a special purpose depository institution (SPDI), giving it the functions of a traditional financial institution. The corresponding application of the Californian company was approved by the Wyoming Banking Council. This will allow Kraken to opt-out of third-party vendors to perform certain banking functions on its own.
Official Ethereum Proof-of-Stake Algorithm Proposal Published
Ethereum Foundation Lead Developer Danny Ryan has published the official proposal EIP-2982, which suggests the launch of Ethereum 2.0 and the transition from the Proof-of-Work consensus algorithm to Proof-of-Stake. If approved by other leading developers, it will be possible to launch Serenity, Ethereum 2.0 phase zero. Within its framework, the Beacon Chain will be activated, which will use Proof-of-Stake.
Uniswap Provides All Its Users With $1.200
Leading decentralized exchange (DEX) Uniswap has released the UNI governance token. It was listed on the Binance exchange almost immediately. About 13000 Uniswap users have already requested tokens.

Regulations

New Draft Law Suggests The European Union Is Set To Regulate Cryptocurrencies
The European Commission proposed to establish a legal framework for cryptocurrencies, security tokens, and stablecoins by analogy with the requirements for traditional financial instruments. This is stated in the Cryptocurrency Asset Markets Bill. The bill proposes to treat cryptocurrency assets like any other financial instrument. According to the European Commission, this will provide legal clarity.
Digital Assets Recognized As Securities In Nigeria
The regulator clarified that cryptocurrencies offer public alternative investment opportunities. Digital assets can be used as a medium of exchange, settlement, and accumulation. In order to protect investors from risks and not violate the integrity of the market, crypto assets must be controlled on an equal basis with securities. The main task of regulation is not to discourage the development of new technologies, but to ensure fair market competition and adherence to ethical standards.

Hacking

Japanese Crypto Exchange Sues Binance for Role in $63 Million Bitcoin Hack
The Japanese company Fisco Cryptocurrency Exchange, Inc has filed a US lawsuit against Binance Holdings Ltd., accusing it of providing a service to launder cryptocurrency stolen from the Zaif exchange in 2018. Fisco acquired Zaif in 2018 shortly after the hack. Over $9 million in stolen assets could have been funneled through Binance. The company notes that analysts were able to track the movement of all stolen $63 million to one bitcoin address. Subsequently, 1,451.7 BTC were sent from it to Binance addresses.
New Virus Attacks Microsoft SQL Database Servers For Monero Mining
Tencent's cybersecurity division has discovered a new miner virus called MrbMiner. The tactics of the virus are quite simple — the botnet scans the available IP addresses in search of Microsoft SQL servers, and if it detects such, it tries to log in under the administrator account using a brute-force password. If successful, the virus downloads the assm.exe file, which implements a reboot mechanism and creates a special account for hackers to access the server. After that, MrbMiner downloads a miner for mining the anonymous cryptocurrency Monero (XMR).

Mass adoption

Bahamas Geared to Launch Central Bank Digital Currency
The Bahamas wants to be the first country in the world to roll out a government-backed virtual currency nationwide and announced they will launch a central bank-issued cryptocurrency (CBDC) in October. The digital currency, dubbed "sand dollar", is designed to increase the financial availability of remote islands within the archipelago state.
Alibaba On Track To Be The Largest Blockchain Patent Holder By End Of 2020
Computer giant IBM risks losing the title of the largest blockchain patent holder to the Chinese corporation Alibaba. Since the beginning of the year, Alibaba has published ten times more patents than its closest competitor, IBM. According to analysts, if the pace is maintained, the Chinese corporation will become the largest patent holder by the end of the year.
France Begins Central Bank Digital Currency Testing
Société Générale — one of the largest financial conglomerates in Europe — will test the central bank digital currency (CBDC) on the Tezos blockchain. The Bank of France, as a result of the selection of partners, chose the Forge blockchain platform to test CBDC for interbank settlements. As part of the experiment, the feasibility of digitizing financial securities and the possibility of settlements on them using CBDC will be studied. In addition to Nomadic Labs, several technology service providers and consultants will participate in the testing.
Kazakhstan Will Develop A Blockchain Service For Ensuring The Security Of Personal Data
It will allow citizens of the country to control the use of their personal data. The service is planned to be introduced by the end of this year.

People

Kiss Rock Group Member Is Ready To Buy Bitcoin
Gene Simmons supported Cameron Winklevoss's request to use bank accounts to buy Bitcoin and Ether. The co-founder of Gemini tweeted that people who do not have access to banking services find it difficult to become the owners of cryptocurrency and that they need to take advantage of the benefits. The musician commented as follows: "I will. I am." For this moment, the most common opinion on Twitter is that Simmons is already buying cryptocurrency and will continue to increase the amount of Bitcoin he owns.
That’s all for now! For more details follow us on Twitter, subscribe to our YouTube channel, join our Telegram.
submitted by CoinjoyAssistant to u/CoinjoyAssistant [link] [comments]

Crypto Weekly News

What important crypto events happened last week?
Cryptocurrencies
Monero Presents New Legal Framework In Defense Of Privacy Coins
Riccardo Spagni presented the result of more than a year's work. A whitepaper titled "Anti-Money Laundering Regulation of Privacy-Enabling Cryptocurrencies" has been published. The document was conceived as a new legal framework to protect confidential coins such as Monero, Zcash, Dash, Komodo, and others.
Tether Is Moving 1 Billion More USDT Coins From TRON To Ethereum Blockchain
The total supply of coins will not change. The company carried out the swap on September 15, coordinating its actions "with a third party". In recent weeks, this is the second such stablecoin transfer between blockchains — on August 20, the issuer also moved USDT 1 billion from Tron to Ethereum. Another piece of news about Tether: USDT capitalization exceeded $15 billion, having increased by $3 billion in just a month.
Projects and Updates
Kraken Receives Licence To Establish First U.S Digital Assets Bank
The Kraken Bitcoin exchange was the first in the United States to receive the status of a special purpose depository institution (SPDI), giving it the functions of a traditional financial institution. The corresponding application of the Californian company was approved by the Wyoming Banking Council. This will allow Kraken to opt-out of third-party vendors to perform certain banking functions on its own.
Official Ethereum Proof-of-Stake Algorithm Proposal Published
Ethereum Foundation Lead Developer Danny Ryan has published the official proposal EIP-2982, which suggests the launch of Ethereum 2.0 and the transition from the Proof-of-Work consensus algorithm to Proof-of-Stake. If approved by other leading developers, it will be possible to launch Serenity, Ethereum 2.0 phase zero. Within its framework, the Beacon Chain will be activated, which will use Proof-of-Stake.
Uniswap Provides All Its Users With $1.200
Leading decentralized exchange (DEX) Uniswap has released the UNI governance token. It was listed on the Binance exchange almost immediately. About 13000 Uniswap users have already requested tokens.
Regulations
New Draft Law Suggests The European Union Is Set To Regulate Cryptocurrencies
The European Commission proposed to establish a legal framework for cryptocurrencies, security tokens, and stablecoins by analogy with the requirements for traditional financial instruments. This is stated in the Cryptocurrency Asset Markets Bill. The bill proposes to treat cryptocurrency assets like any other financial instrument. According to the European Commission, this will provide legal clarity.
Digital Assets Recognized As Securities In Nigeria
The regulator clarified that cryptocurrencies offer public alternative investment opportunities. Digital assets can be used as a medium of exchange, settlement, and accumulation. In order to protect investors from risks and not violate the integrity of the market, crypto assets must be controlled on an equal basis with securities. The main task of regulation is not to discourage the development of new technologies, but to ensure fair market competition and adherence to ethical standards.
Hacking
Japanese Crypto Exchange Sues Binance for Role in $63 Million Bitcoin Hack
The Japanese company Fisco Cryptocurrency Exchange, Inc has filed a US lawsuit against Binance Holdings Ltd., accusing it of providing a service to launder cryptocurrency stolen from the Zaif exchange in 2018. Fisco acquired Zaif in 2018 shortly after the hack. Over $9 million in stolen assets could have been funneled through Binance. The company notes that analysts were able to track the movement of all stolen $63 million to one bitcoin address. Subsequently, 1,451.7 BTC were sent from it to Binance addresses.
New Virus Attacks Microsoft SQL Database Servers For Monero Mining
Tencent's cybersecurity division has discovered a new miner virus called MrbMiner. The tactics of the virus are quite simple — the botnet scans the available IP addresses in search of Microsoft SQL servers, and if it detects such, it tries to log in under the administrator account using a brute-force password. If successful, the virus downloads the assm.exe file, which implements a reboot mechanism and creates a special account for hackers to access the server. After that, MrbMiner downloads a miner for mining the anonymous cryptocurrency Monero (XMR).
Mass adoption
Bahamas Geared to Launch Central Bank Digital Currency
The Bahamas wants to be the first country in the world to roll out a government-backed virtual currency nationwide and announced they will launch a central bank-issued cryptocurrency (CBDC) in October. The digital currency, dubbed "sand dollar", is designed to increase the financial availability of remote islands within the archipelago state.
Alibaba On Track To Be The Largest Blockchain Patent Holder By End Of 2020
Computer giant IBM risks losing the title of the largest blockchain patent holder to the Chinese corporation Alibaba. Since the beginning of the year, Alibaba has published ten times more patents than its closest competitor, IBM. According to analysts, if the pace is maintained, the Chinese corporation will become the largest patent holder by the end of the year.
France Begins Central Bank Digital Currency Testing
Société Générale — one of the largest financial conglomerates in Europe — will test the central bank digital currency (CBDC) on the Tezos blockchain. The Bank of France, as a result of the selection of partners, chose the Forge blockchain platform to test CBDC for interbank settlements. As part of the experiment, the feasibility of digitizing financial securities and the possibility of settlements on them using CBDC will be studied. In addition to Nomadic Labs, several technology service providers and consultants will participate in the testing.
Kazakhstan Will Develop A Blockchain Service For Ensuring The Security Of Personal Data
It will allow citizens of the country to control the use of their personal data. The service is planned to be introduced by the end of this year.
People
Kiss Rock Group Member Is Ready To Buy Bitcoin
Gene Simmons supported Cameron Winklevoss's request to use bank accounts to buy Bitcoin and Ether. The co-founder of Gemini tweeted that people who do not have access to banking services find it difficult to become the owners of cryptocurrency and that they need to take advantage of the benefits. The musician commented as follows: "I will. I am." For this moment, the most common opinion on Twitter is that Simmons is already buying cryptocurrency and will continue to increase the amount of Bitcoin he owns.
That’s all for now! For more details follow us on Twitter, subscribe to our YouTube channel, join our Telegram.
submitted by CoinjoyAssistant to cryptoeconomynet [link] [comments]

PayPal Co-Founder, DCG-Backed BTC Mining Firm Layer1 Accused of Patent Infringement

Backed by investors like PayPal Co-founder Peter Theil and the Digital Currency Group, CoinDesk’s parent company, Layer1 currently operates bitcoin mining facilities in West Texas.
submitted by ami_nil1987 to DigitalCryptoWorld [link] [comments]

PayPal Co-Founder, DCG-Backed BTC Mining Firm Layer1 Accused of Patent Infringement

Backed by investors like PayPal Co-founder Peter Theil and the Digital Currency Group, CoinDesk’s parent company, Layer1 currently operates bitcoin mining facilities in West Texas.
submitted by ami_nil1987 to airdropfactory [link] [comments]

morning joe

Microsoft is committed to trying to buy TikTok's U.S. operations, after CEO Satya Nadella discussed a potential deal during a phone call on Sunday with President Trump. Microsoft (NASDAQ:MSFT) said in a blog post that it will move quickly to pursue discussions with TikTok parent ByteDance (BDNCE), aiming to complete negotiations by Sept. 15. "Microsoft fully appreciates the importance of addressing the President’s concerns," the company said. "It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury." The company's aim is to build on TikTok's popular user experience with adding privacy and security protections. The proposed transaction has gained the blessing of top Trump administration officials, including Treasury Secretary Mnuchin, as well as several Republican lawmakers, after the president's Friday night comments that he preferred a TikTok ban in the U.S. instead of a sale took all sides by surprise.
All eyes on U.S. payroll data
The U.S. July employment report, to be released this Friday, will have a binary flavor to it. If the jobs situation is consistent with economists' views, it should give investors more confidence in the economy's health while weak data will weigh on investors' near-term enthusiasm. Current consensus is a rise of 1.65M jobs, albeit a bearish drop of ~27% from last Thursday's projection of 2.25M. Congress is trying to cobble together another stimulus package but, unsurprisingly, Republicans and Democrats are at loggerheads over the specifics.
MLB draws strong TV ratings in opening week
Despite concerns over a truncated 60-game season and empty seats in stadiums, Major League Baseball's opening week has been a resounding success. Games aired nationally during opening weekend (July 23-26) drew more than twice as many viewers as a year ago. Walt Disney's (NYSE:DIS) ESPN said that its first 12 broadcasted games averaged ~1.2M viewers, up 34% compared to last year. Fox Sports (NASDAQ:FOX) also enjoyed a double-digit rise in ratings. According to Michael Mulvihill, Fox Sports head of strategy and analytics, the strong start reflects pent-up demand and little competition from other major U.S. sports. The season, though, is facing its first stern test after 18 members of the Miami Marlins tested positive for COVID-19 leading to the cancellations of certain games by several clubs. 17 games have been postponed to date.
Fed to "relax" approach to managing inflation target
The Fed is preparing to abandon its long-held practice of raising interest rates to preempt overheating in the economy, citing persistently low U.S. inflation. Chairman Jerome Powell hinted at the shift in a news conference last week when he disclosed that the central bank would soon complete a comprehensive review of its policy-making strategy. The change is unlikely to alter much since interest rates are barely above zero and are expected to remain low for the foreseeable future. Longer term, central bankers, economists and investors expect rates to return to a more normal 4% or so once the economic recovery/expansion has matured.
Trump readies action against Chinese software firms
During an interview yesterday on Fox News' Sunday Morning Futures, Secretary of State Mike Pompeo said that President Trump will announce new action this week against Chinese software companies that he perceives are threats to national security, including TikTok and WeChat that, he says, are "feeding data directly to the Chinese Communist Party." In a separate interview, Treasury Secretary Steve Mnuchin declared that "we are not keeping TikTok in its current form." The expected actions will be the latest salvo in the deterioration in U.S./Sino relations.
Apple sued in China over voice assistant patent
Shanghai Zhizhen Network Technology Company, known as Xiao-i, has filed a lawsuit in a Shanghai court against Apple (NASDAQ:AAPL) claiming infringement on a patent covering a voice assistant similar to Siri. The company seeks 10B yuan ($1.43B) in damages and, if successful, could prevent the tech giant from selling many of its products in China. In late June, China's Supreme Court ruled that Xiao-i owns the patent which ended a process that involved several trials since 2012. It is the third time in less than a decade that Apple has faced trademark and patent challenges in its #2 market (behind the U.S.). The company has yet to comment on the matter.
U.S. COVID-19 pandemic in new "widespread" phase
According to White House coronavirus task force coordinator Dr. Deborah Birx, the pandemic is in a "new phase" that is different from the March/April period with "extraordinarily widespread" cases in both urban and rural areas. Reemphasizing the essential role of wearing masks and distancing, Dr. Birx said, "To everybody who lives in a rural area, you are not immune or protected from this virus and that is why we keep saying, no matter where you live in America, you need to wear a mask and socially distance, do the personal hygiene pieces." She also says super-spreading events are the main concern, not super-spreading individuals. Per Johns Hopkins case tracker, U.S. infections are now over 4.6M with over 154K deaths.
GOP and Dems tussle over fourth round of U.S. stimulus
Talks between Republican and Democratic leaders over the specifics of the latest round, the fourth, of economic stimulus are proceeding down the familiar contentious path. Both sides agree on sending $1,200 checks to most Americans but the GOP is apparently balking at a boost to unemployment insurance which was set at $600 per week but recently lapsed. Democrats want to preserve the $600 amount while Republicans want to cut it to $200 due to cost concerns. House Speaker Nancy Pelosi is accusing President Trump of standing in the way of a deal. On Face the Nation yesterday, Chief of Staff Mark Meadows said, "I'm not optimistic that there will be a solution in the very near term."
7-Eleven to acquire Speedway for $21B in cash
Seven & i Holdings (OTCPK:SVNDF) indirect subsidiary 7-Eleven has agreed to acquire Speedway from certain subsidiaries of Marathon Petroleum (NYSE:MPC) for $21B in cash. The Enon, Ohio-based chain operates ~3900 convenience stores in 36 U.S. states. The transaction, which includes a 15-year fuel supply agreement for about 7.7B gallons per year, should close in Q1 2021.
China's Caixin manufacturing PMI hits nine-plus year high
The Caixin China manufacturing purchasing managers index hit its highest point since 2011, lending more credence to inklings of a recovery there. China's official PMI rose to its own four-month high last week, and it's got a bigger sample, focused on larger state-owned companies. Caixin focuses on smaller manufacturers, and it hit 52.8, the third straight month it was over 50, signaling expansion.
Rio Tinto sues Australia's Monadelphous over 2019 fire
Rio Tinto (NYSE:RIO) has sued Monadelphous Engineering Associates (OTCPK:MOPHY) over a fire at Rio's Western Australia iron ore processing facility last year. Monadelphous says Rio is claiming MEA breached terms of a contract, and that Rio is seeking A$493M (about $351M) tied to its inability to process iron ore at the plant during repairs.
What else is happening...
Siemens Healthineers (OTC:SEMHF) merges with Varian Medical Systems (NYSE:VAR) in $16B deal.
SpaceX (SPACE) and NASA splashdown breaks 45-year drought.
Blackstone (NYSE:BX), TPG rejigger REIT debt to sidestep margin calls.
Iran stock market hits record high despite sanctions and battered economy.
Today's Markets In Asia, Japan +2.24%. Hong Kong -0.56%. China +1.75%. India -1.64%. In Europe, at midday, London +0.56%. Paris +0.97%. Frankfurt +1.86%. Futures at 6:20, Dow -0.05%. S&P +0.10%. Nasdaq +0.52%. Crude -1.32% to $39.74. Gold +0.02% to $1,986.30. Bitcoin -0.75% to $11,164. Ten-year Treasury Yield +1.3bps to 0.549%
Today's Economic Calendar 9:45 PMI Manufacturing Index 10:00 ISM Manufacturing Index
submitted by upbstock to Optionmillionaires [link] [comments]

Bitcoin Mining Firm Layer1 Accused of Copyright Infringement

United States-based cloud computing company Lancium LLC has filed a lawsuit against Bitcoin (BTC) mining firm Layer1 for patent infringement in the Western District Court of Texas. According to a complaint filed on Aug. 14, the power usage model employed by Layer1 for Bitcoin mining violates Lancium LLC’s patent filed in March 2020. The founder […]
submitted by FuzzyOneAdmin to fuzzyone [link] [comments]

Cryptocurrency and Blockchain – Industry News – (07.26.19 – 08.02.19)

Total Market Cap, as of 08.02.19 at 12:00pm (PST):
Missed last week’s update? Click here for a summary

STORY OF THE WEEK
· From a court hearing held on July 29th , 2019, New York Supreme Court Judge Joel M Cohen delays the decision whether to dismiss NYAG’s allegations against Bitfinex and Tether or to reject the motion to dismiss for 90 days.

CRYPTOCURRENCY TRADING SERVICES
· Digital-asset wallet service provider Blockchain.com launches a new exchange service dubbed “The Pit”.
· BitFlyer Europe launches new buying and selling service to spot trade cryptocurrencies.
· Kraken partners with Etana Custody to offer new options for fiat deposits and withdrawals in USD, EUR, CAD, GBP, JPY.

REGULATION
· In an explanatory memorandum issued by the Treasury in Australia, proposes to ban cash payments for goods and services exceeding 10,000 AUD (U.S. $6,900). Digital currencies have been mentioned to be excluded should the rule take into effect.
· Bithumb, Upbit, Coinone and Korbit face stricter requirements to maintain bank accounts as large South Korean banks tighten measures to combat money laundering.
· In the risk factors section of a recent quarterly report, Facebook outlines while it expects its Libra digital currency to launch in 2020, regulatory concerns from lawmakers and regulators may prevent it from happening at all.
· The U.K Financial Conduct Authority (FCA) has finalized guidance on crypto assets and the tokens that fall under its jurisdiction.
· Cryptocurrency derivatives exchange Quedex has secured a Distributed Ledger Technology (DLT) Providers Licence from the Gibraltar Financial Services Commission (GFSC). This gives the firm the ability to offer trading services such as Bitcoin futures and crypto custodial services.
· A total of 11 regulations related to blockchain/cryptocurrency has been lifted in the South Korean city of Busan as a controlled experiment to increase research and development.

TECHNOLOGY
· Tether has launched a new token dubbed Liquid USDT running on BlockStream’s Liquid Network sidechain.

INSTITUTIONALIZATION
· According to a recent patent filing, Walmart may be working on issuing its own fiat-backed digital currency.
· Grayscale’s U.S. $2.7 Billion in Crypto Assets Will Now Be Held by Coinbase Custody

PEOPLE
· Co-founder of cryptocurrency exchange Bitmarket, Tobiasz Niemiro has been found dead with a bullet wound to the head on Thursday in a forest near his home city of Olsztyn in Poland.
· Former CEO of Mt. Gox, Mark Karpeles faces a class action lawsuit brought in Philadelphia over the notorious collapse of the exchange in 2014.

TWITTER
· @danheld"A loaf of bread costs: 1915: $0.07 2019: $2.89 | 2010: 119 BTC 2019: 0.00037 BTC You tell me which is a shitcoin"
· @michellebond111“With tomorrow’s hearing, I’m encouraged that our congressional leaders are taking the time to understand crypto and blockchain technologies. Let’s work together on a thoughtful policy framework that fosters innovation at home in the U.S. The time is now.”
· @jimmysong“If you want to really stack sats, make something so good that people will go through the trouble of converting their fiat to BTC to buy it.”
submitted by Edmund_N to CryptoMarkets [link] [comments]

Weekly news review (May 18-24)

Weekly news review (May 18-24)
Good day, everyone! Last week was full of interesting highlights. Let's take a look.
https://preview.redd.it/gpphalibhp031.png?width=1200&format=png&auto=webp&s=4ee65772e9176314d8eb742ae11a0e31f85771d4

Google has reportedly suspended all businesses with the world's second-biggest smartphone maker, Huawei, and revoked its Android license effective immediately—a move that will have a drastic impact on Huawei devices across the globe.Revoking Android license means Huawei future smartphones will no longer have access to Android updates and apps like Gmail or the Play Store, as well as Google technical support beyond services that are publicly available via open source licensing, Reuters report.Why? That's because last week, U.S. President Donald Trump signed an executive order declaring a national emergency banning foreign companies—over surveillance fear—from doing telecommunication business in the United States without the government's approval.
The Trump administration added Huawei Technologies Co Ltd and some 68 affiliates to its so-called "Entity List"—a list of companies that American firms like Qualcomm, Intel, and Google cannot trade with unless they have an approval from the U.S. government.As a result of which, not just Google, but also three of the world's leading chip makers—Intel, Qualcomm, and Broadcom—are also reportedly cutting off their trades with Huawei, effective immediately.

Jerome Flynn, the actor who plays “Bronn” in the hugely popular TV series Game of Thrones, has joined the advisory board of a vegan lifestyle project that has launched its own crypto token.
Called VeganNation, the Israel-based project is building what it describes as a “fully functioning ecosystem” that will support vegans via a platform enabling the exchange of products and services that are “100 percent cruelty-free.”
As part of its planned decentralized “vegan economy,” VeganNation is launching a “traceable” digital currency called VeganCoin. The token went on pre-sale at the end of April, with 10 percent of proceeds to go to incentivize its ecosystem validators (or “rangers”) and community, according to the Vegan Nation “green paper.”

Blockchain-based live streaming service DLive has seen a 67 percent growth in its user base since PewDiePie, one of the world’s most popular YouTubers by subscriber numbers, joined the platform in April.
DLive now has more than 5 million monthly active users and over 70,000 streamers, Nikkei Asian Review reported Monday. The platform reportedly had around 3 million monthly active users and nearly 35,000 active streamers as of March.
DLive is a decentralized platform built using the Lino Network blockchain, which rewards both content creators and viewers using its native token, “Lino points.” It takes no percentage of earnings and does not charge fees to content creators, although they do face platform fees when exchange tokens for fiat currency.

Craig Wright, the self-proclaimed creator of bitcoin, has filed registrations with the U.S. Copyright Office supporting his claims of authorship over the original bitcoin code and the Satoshi white paper.
To be clear, registration does not imply ownership nor is this an official patent. The copyright process allows anyone to register anything in an effort to prepare, say, for lawsuits associated to ownership.
Computer code and white papers can be copyrighted insofar as they are considered literary works and, as the copyright office writes: “In general, registration is voluntary. Copyright exists from the moment the work is created. You will have to register, however, if you wish to bring a lawsuit for infringement of a U.S. work.”

Facebook is planning on rolling out its own cryptocurrency by the first quarter of 2020, a digital payments system that will be active in roughly a dozen countries, the BBC reports.
The GlobalCoin would likely be pegged to the price of the US dollar, Japanese Yen and the Euro on a one-to-one basis. The so-called “stablecoin” would be a hedge against the wild swings in value other cryptocurrencies have experienced.
It would also provide a way for those who do not have bank accounts to have an easier path for money transfers and purchases. Overall, the project has the potential to open a vast new revenue stream for Facebook, which has been under fire over privacy and political concerns. Any rollout would have a major hurdle to overcome, that of trust, since buying and selling records would be a part of Facebook’s data.

Have any ideas to share? Leave them in the comments section below!
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r/Bitcoin recap - August 2019

Hi Bitcoiners!
I’m back with the 32nd monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you an overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in August 2019
Adoption
Development * Bitcoin Core Developer Andrew Chow is straming his code tests on Twitch (7 Aug)
Security
Mining
Business
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

Craig Wright: Either I’m Satoshi Nakamoto, or He Plagiarized Me

Craig Wright: Either I’m Satoshi Nakamoto, or He Plagiarized Me
https://preview.redd.it/mkkx9thz4gt31.png?width=1024&format=png&auto=webp&s=95580019acb4192047196e103a52524cc784bcd2
Australian computer scientist and tech entrepreneur Craig Wright has asserted that Satoshi Nakamoto, the author of the Bitcoin (BTC) white paper, plagiarized him.
Speaking at the CC London Investment in Blockchain and AI Forum 2019, which took place from Oct. 14 to Oct. 16, Wright claimed that he was about to reveal the ultimate proof of his authorship of the original Bitcoin code. This will come out, according to Wright, in the form of a thesis he wrote back in 2008.
Wright said that Nakamoto lifted entire sections of the thesis into the Bitcoin white paper. After realizing that he referred to Satoshi in the third-person, Wright said:
“Either I am Satoshi or Satoshi plagiarized me. You can make the choice, I don't really care because he actually took whole paragraphs from my LOM. So it’s either me or… I don’t really care if you like it.”
Worth noting, Wright has continuously claimed that Satoshi Nakamoto is the alias for the partnership between him and his late business partner Dave Kleiman, the entity entirely responsible for inventing Bitcoin. After Kleiman’s death, Wright began arguing that he is actually Satoshi Nakamoto.

Wright’s academic background

As previously reported, Wright has become one of the most controversial figures in the crypto community, primarily due to his self-proclamation that he is Bitcoin’s original creator. Wright has filed 114 blockchain patents since 2017 and listed two PhDs on his LinkedIn page, including one from Charles Sturt University.
Eventually, Forbes contacted the university and found out that it had not granted Wright any PhDs, although it gave him three master's degrees in networking and systems administration, management (IT), and information systems security. Wright was, however, awarded with a doctorate degree by Charles Sturt University later in 2017.

Wright and the case of 1 million BTC

Since early 2018, Wright has been a defendant in a lawsuit filed on behalf of the estate of Kleiman, alleging that following Kleiman’s death in 2013, Wright unlawfully appropriated more than a million BTC that the business partners had mined jointly in the early years of the cryptocurrency, as well as some related intellectual property.
In late August, Judge Bruce Reinhart rejected Wright's testimony, stating that he had perjured himself by providing the court with falsified documents and recommended that he hand over 50% of the over 1 million BTC Kleiman mined with Wright, as well as intellectual property rights associated with Bitcoin’s software.
submitted by Rajladumor1 to omgfin [link] [comments]

r/Bitcoin recap - February 2018

Hi Bitcoiners!
I’m back with the fourteenth monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in February 2018
submitted by SamWouters to Bitcoin [link] [comments]

r/Bitcoin recap - April 2018

Hi Bitcoiners!
I’m back with the sixteenth monthly Bitcoin news recap.
It's easy for news and developments to get drowned out by price talk, so each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in Bitcoin over the past month. Lots of gems this time around!
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in April 2018
submitted by SamWouters to Bitcoin [link] [comments]

My view for the worst, better, best case scenario

Even with current straight bankruptcy (hasan) trustee can address the court based on finance analysis and cuncil for new evaluations of intangible assets(btc) due to price violity and significant asset value increase after inital btc value evaluation, what if approved, with current straight bankrupty btc+forks must be sold to pay all creditors with updated and new evaluated claims. On another hand, only if CR and plan is approved, these btc and forks can be distributed unexchanged (unliquidated) to the creditors.
All asset whatever tangible or not is liquidated only to the certain point to get liquid asset (funds) to pay all creditors. When that is done, bankruptcy is completed and court/trustee authority stops. Any remaining asset remain as asset what company can use to resume busines or whatever they choose. Ordinary, in bankruptcy liquidation, all asset in full had to be liquidated, because creditors claims are much higher then company assets worth. Its liqidated in full only if asset can't be sold partialy and there is no other assets to be liquidated. However, in MtGox bankruptcy things has changed, untangible asset are now worth much more then total of approved creditors claims and if claims stays with current evaluation, asset will be liquidated only to the funds worth what equal all total approved creditor claims, nothing more! Update: under bankruptcy (hasan) corporation has to be dissolved what after distribution of all creditors has been made and Court bankruptcy termination order , dissolution esentualy cause all remaining asset liquidation and surplus sent to the shareholders - Tibanne and then Mark Karpeles.
Worst case scenario: The Court settle all creditors claim with current evaluated btc (483$) +fiat+interst coverted and paid as JPY where only enough intangible assets (btc) are liquidated (sold) to settle all creditors (what are almost already done), what makes bunkruptcy completed and reamining 165k btc and forks remain as Mtgox intangible asset where they can do whatever they want, liquidate and pay dividends, trade with btc, invest in other projects etc (bankruptcy is over, no obligation or liabilities to MtGox creditors). (Unfortunetly, in my opinion, this will most likely be the case. Read edit at the end of the OP).
Update: under bankruptcy (hasan) corporation has to be dissolved what after distribution of all creditors has been made and Court bankruptcy termination order , dissolution esentualy cause all remaining asset liquidation and surplus sent to the shareholders - Tibanne and then Mark Karpeles.
Better scenario: If some miracle (never) happens the Court accept new btc evaluation, but then these to be paid as JPY, all (or better to say) suficient remaining btc need to be sold(liquidate) to settle new evaluated creditor claims and question is how much liquid asset (funds) creditors would receive due crushing the btc price. Eventual btc+forks surplus(°) what would be quite lower then in worst case scenario, would remain as intangible MtGox asset where corporation can do whatever they want - bankruptcy is completed. (°(eventual btc+forks surplus would depend on new btc price evaluation for creditor claims and difference in new total claimed sum vs. funds JPY what trustee get from actual btc liquidation). Update: corporate dissolution aplies here too, just much less funds to be sent to the shareholders.
Best scenario: (Low probability, read edit at end of the OP) Civil rehabilitation under supervision with approved plan where creditors can claim all remaining btc+ forks unexchanged (not liquidated) + what is already been liquidated.
In this case, if plan is approved we would get 100% our current claim. We need to divide total claimed JPY sum with 50.058JPY (btc 483$) to get how much that is as btc base and on that result add aprox 17% of btc/bcc distributed as btc/bcc. Percentage (17%) might be lower, depend on ther lawsuit and non mtgox users creditor claims. Example of the best case scenario: Current approved claim. Rates to JPY (2014) BTC= 50,058.12 JPY; US$ = 1USD=103.64 JPY Currency US$ balance = 1,200$= approved sum JPY=124,368. Bitcoin balance = 14btc = approved JPY = 700,813.68 124,368+700,813.68 =825,181.68 JPY total of approved creditor claim/ that is sum what creditor receive 100% sum (liquid funds almost available, to be distributed as JPY). 825,181.68/50,058.12=> 16.48 BTC base: 16.48x17%=> 2.80 BTC and 2.80 BCC to return as cryptocurrency. Sumarise: Creditor receive 825,181.68 JPY and 2.80 btc and 2.80 bcc. That would be max return. Same calculation is aplied if creditor had only btc balances, only any currency (fiat) or both currency(fiat) and btc. Both fiat or currency mean: USD, EUR, GBP, JPY etc.
Iam not sure what that actual CR and plan are in the "best case scenario" as I have no details. We actually need sort of "better case scenario" just without required to liquidate remaining btc+forks and to be distributed as intangible asset (btc+forks). Beside, its Trustee duty to look best interest of all creditors, but for bankrupt company as well, what might cause conflict. Its defenetelly hard and complex situation, for all parties.
Questionable is whatever liquidated intangible asset (btc) under bankruptcy (straight or CR) are subjected to the capital gain (not dividend) and approprate income tax what would cause lower(dilution) funds distribution. However, in that case question is how would be regarded our creditor claims i.e. deductable as intangible asset value entry? Capital gain/profit- loss - deductable - expense=> corporate gross income - tax=> net income. So actually, from what I know from accounting practise, paid funds for evaluated claims would be asset (btc) "in value" while liquidated asset "out value" so actual capital gain net from btc are: difference in paid claims minus actal liquidation value! Beside, that "net capital gain" are not actually "net gain" as there are minus from other deductable sums and only when they are substracted make net income before corporate income tax! It maight be discharged, but I doubt it. Only liquidated untangible asset (btc) are regarded as corporation capital gain/profit, its not corporation dividends. Its conflicted situation because MtGox did not bought these btc, nor mined them, nor gifted, nor received as Mtgox investment and they were never corporation assets. Control of btc as intangible assets does not always equal propietorship (if there are contract or mutual agreement), but it will be (are) if not chalanged and Iam not sure on what grounds are we creditors then (unless corporation addmited debt/liability, but then again on what terms and conditions or user agreement these btc have been received?). Regardless, Trustee must have profesional finance advisoaccountant.
Some examples of intangible assets: patents, trademarks, franchises, goodwill, copyrights, Internet domain names, performance events, licensing agreements, service contracts, computer software, blueprints, manuscripts, joint ventures, medical records, permits, and trade secrets and many more. When MtGox were alive, such intangible asset doesn't enter finance balance sheet neither as asset value or liability value. It would if MtGox exchanged them (trade) for his account with buy/sell price. MtGox when alive these btc just had to record in secundary books as btc +/- held analiticaly for each user. Under bankruptcy proceedings, such a intangible assets as bitcoin is very hard to assest (evaluate), usualy trustee waits until last minute bankrupt company to liquidate them or best bid (°) and to update btc evaluation value what prior were blank, in order creditors get as much as possible. In our case, trustee did not do that and I have not found anything what would make him to evaluate at start of the filling the claims. (°)Actually I think, in case of public auction certain restriction might apply, certain party can't bid (I might be wrong).
However, not all asset are in the same category. In my country, bitcoin is regarded as financial asset, it does not matter is it tangible or not. If I as a person or the company make money from trading internet domains, it would be regarded as income subject to the tax. But if I as a person (not company) make money from exchanging certain personal financial assets, btc, any currency, diamonds, gemstone, gold and earn (dividends and interest excluded) from the positive rate difference, it would not be income subjected to income tax. But in same situation, company would be subjected to the taxes. Capital gain has two separate catogory, dividends what is profit on top of asset (asset reamin) and capital gain from the trade of asset, where one asset is exchanged to another asset and profit is from the rate difference, which can be either positive either negative.
There was a lawsuit against bankrupt Mtgox where user requested full btc refund what were denied with this explanation:
Presiding Judge Masumi Kurachi said the Civil Code envisages proprietorship for tangible entities that occupy space and allow for exclusive control over them. The judge said it is evident bitcoins do not possess the properties of tangible entities...
Basicly that mean, bitcoin is intangible where envisaged proprietorship can't be claimed as they are not phisical in nature and because Mtgox had exclusive control!(based on Japan civil code btw what is 120 years old (°), but what about corrporation/commerce law?) Beside, whatever is exclusive control of said bitcoin (intangible asset) depend on mutual contract, user agreement, term and conditions. Regardless, it was right Court call in this case, they just couldn't return full btc holdings, no chance whasoever, it would be a nightmire for the rest of users who doesn't follow his step, but if he accepted loss of aprox 3/4 btc and wanted only remaining 1/4 rulling might be different.
(°) The National Diet approved significant amendment to the Civil Code in May 2017 to update the Civil Code which is approximately 120 years old. Some general rules and many provisions regarding contracts were amended. The amended Civil Code will be enacted sometime before June 2020.
Edit: Our btc and any other currency balances held at MtGox with 2014 market value is our claim against mtgox all assets. BTC belong to the Mtgox -we creditors only claim that debt. Even these BTC are sold at higher rate then 2014. this just make raise in value of the mtgox liquid financial asset (while intangible asset btc exit books), but doesn't automaticly raise mtgox debts to us! Debt stays as is. According to the mtgoxlegal lawyer, new claim evaluation is not possible and I agree. Then how we the creditors, even in CR will be able to claim the btc as they dont belong to us as btc, but only current debt? Its like we sold our btc at 2014. at 483$ to the Mtgox who never paid us and that value we claim now within our claims. Try to imagine how btc dont exist or it exist but with same rate in 2018 as in 2014. We would be in the same situation if JPY rate against all other currency went to the roof, but btc are still at around 500$. Like its not in 2014, 1usd=103 JPY, but let say in 2018, 1usd=100,000 JPY, our claims would still reflect 2014 rates (even in CR) btc are not different. Even if CR reopen the window for filling claims and evaluation of the ALL claims, it would be at 2014. market rates!
I have a idea where we could get something over our current claims, but still brainstorming and many users won't like it as that is not what they expect to get. I think we are fucked - worst case scenario. Even if someone try to sue based on btc balances once held at Mtgox, it would fail. It might be different case, if Mark(•) said before bankruptcy, hey, these btc never belonged to the Mtgox, return what is left after audit to the mtgox users and then start bankruptcy to try get what went missing from real owned mtgox asset, what is not much and beside, I think bankruptcy would be terminated on grounds how mtgox asset can't even cover administrative creditors who have priority, let alone other creditors. (•) (All three insolvency proceedings can be filed either voluntarily or involuntarily. Generally, no one, including a debtor or any of its creditors, is obligated to file a petition to commence insolvency proceedings under Japanese law.).
50k JPY per bitcoin from creditors approved claim from 2014. is not binding because of Mtgox online claim system state it (or offline claim signiture), but its final and binding based on the Japan Bankruptcy Act court rulling and applicible as binding contractual Agreement in any other Japan proceeding, or eglible laws, Civil Rehabilitation included. Beside, that is only one reason, other reason is how Mtgox is in the bankruptcy proceeding since 2014. its never completed, eventual civil rehabilitation is only transition and if it ever commence, Mtgox is still under rehabilitation Act where for creditors claim total on 2014 rates total nothing change, but can increase distribution from the debtor profits max 100% claim total value (Mtgox has already enough funds or asset to sell to cover 100% payout). Third reason is how Mtgox users are regarded as last class unprotected non-priority creditors. And more reasons, but you get the picture! There is not much difference for the last class of creditors (Mtgox users) between liquidation or civil rehabilitation.
Due to Mtgox terms of use and accounting, Mtgox users are something as unsecured none-priority trade creditors without right to retain proprietorship of sold/bought, but unpaid btc (goods) until actual user withdraw. Real IN and OUT for both fiat and bitcoin with Mtgox are deposits and withdraw, trading are all just virtual balancing and Mtgox is in bankruptcy since 2014. without activity for creditors in regard on this IN and OUT (or trade). Otherwise, if we had legal grounds to get Mtgox btc asset surplus, we would get portion of non-stolen bitcoin back long time ago either outside of bankruptcy or within as separate satisfaction and with that portion btc back, would be able to claim damages for the missing bitcoins.
Anybody can (sponsor) buy MtGox capital (surplus included) and negotiate ~2000-3000$ per bitcoin where sponsor would need ~400-500M$ fresh capital (to take surplus and liabilities) and for that need civil rehabilitation, but nothing change for the creditor claims value (50k JPY/BTC), sponsor is still obligated only creditors claim total value and when settled, sponsor can use surplus free, fresh as their choice. If sponsor is a (group) of creditors, from that ~400-500M$ their claim total on 2014 rates is deducted. Bitcoins balances can't be segretated, otherwise creditors would have it long time ago.
Be careful who use you (creditor) to send umbiguous letters to their lawyers, surveys, without really knowing concrete and detailed plan and what is creditor benefit and how and on what legal grounds they plan to achive it, don't accept diplomatic responses! If somebody want to be a sponsor, I accept it, its a busines, but if nothing change to my creditor claim value with concrete plan how to achive it, it would just further delay distribution! Then its sponsor benefit, not ALL creditors benefit, even though might look like it! Read Bankruptcy and Rehabitilation Acts to learn about trustee duties and responsibilities and how Mtgox trustee have no say in this, trustee only follow court issued order.
Its not only this binding claim value a problem! If we had legal grounds on surplus btc assets, we would be secured creditors and would get portion of non-stolen bitcoin back long time ago either outside of bankruptcy or within, as separate satisfaction and with that portion btc back, would be able to claim damages for the missing bitcoins. I just don't understand people who spent $100k-200k for lawyers blind trust where lawyers just ensure them to think how CR somehow make Mtgox users what are last unsecured non-prority class of creditors into secured creditors with preserved propetorship of Mtgox bitcoin balances, who can claim bitcoin seperatelly either as btc or liquidated value and who could not claim that in the bankruptcy liquidation, but somehow magically in Civil Rehabilitation they can! Based on what legal grounds? Group lawyer told them how would need an court precedent in order creditors get above of 2014 rates claim value!? Precedent? If Mtgox users had agreemant what state how all balances (btc and fiat) are preserved propietorship until user withdraw, we would have aprox 1/4 btc long time ago and no precedent is required for that, (I could tell them this for free).
MtGox case were true Caveat Emptor. Finally, we all bought and sold bitcoin what was not actually fully unspent at Mtgox bitcoin wallets and users monetary balances did not reflect fully MtGox bank account balances.
04/22. I tried to discuss at mtgoxlegal group about counter-arguments what would overturn this major problems in order to help group lawyers, even we end up with nothing, but many misunderstund and bombarded me with questions to defend this and insulted me personaly, because some are ignorant, arrogant, rude, on ego trip and missed the the point how I must post problems first in order to discuss about valid arguments to overturn it, otherwise they would not understand what I talk about. They asked me even to prove it??? Imagine ignorance! Creditor situation is already funded within Japan bankruptcy and Rehabilitation Acts, Civil and Corporate Code, but I have to prove it to them! OMG, that all I can say on that. Wrong group to discuss obviously!
Even by some magic CR commence (if Tibanne appeal fail), it does not mean creditors get anything above of already approved claim total based on 2014 rates, unless Mtgox trustee state it so and rehabitilation plan is confirmed within 5 months after commencement.
submitted by alfabi to mtgoxinsolvency [link] [comments]

Blue Beelzebub (Final)

Link to Part 1
Link to Part 2
Mortaren’s appointment had left a slim window through which to prep. As a freelancer, I was free to travel across the country or the world for a story, so time off from work wasn’t an issue that vexed me. I opted to fly to Denver then drive I-25 to Walsenburg - a city to the east of the San Luis Valley and a spot my travels made familiar over the years. By week’s end, after a numbing but uneventful commute, I reached the comfort of my hotel days in advance - I wanted that buffer to breathe and to reconnoiter the site of our meeting.
The coordinates pointed to a site too remote for satellites to remap every year. Neither Google nor Bing ever sent cars there to photograph the area. The drive through US-350 was monotonous - mile after mile of farmland parched a uniform yellow. The only excitement, if such were the word, came from the prompts the GPS indicated which eventually took me onto a gravel road.
The route crossed a railroad. To my right was a farm. To my left was the overlook - a weathered and wizened hump of earth a geologist told me had been the remnants of a butte millions and millions of years prior. It stood by itself amid seas of grassy plains. A road lurched onto its peak; there the earth had been pressed into a level (and empty) lot. It felt like the safest place to stop, (hopefully), out of sight and out of mind.
My rented Wrangler was the sole vehicle at the overlook.
For a while I gazed westward. The sky was a vibrant shade of blue that smothered the distance. Across its haze I caught outlines of the Spanish Peaks. I let my eyes wander southward, toward that spot at the horizon where US-350 vanished into a point. I couldn’t see a car anywhere coming or going. A train roared as it approached from the side of the highway.
Eastward and below - at what I gauged may have been a spur of the historical Santa Fe trail, I noted the ruins that had drawn me onto that spot. It had escaped my eyes when I drove by it and then, then I realized why. It was at the top of the overlook that the effect was appreciable. The ruins, through the years, had been smothered to its roof by an orchard of junipers.
The ruin was that of a two-story house which had been built partially into the ground. I gawked at the style of it for it appeared so out of time, so out of place when compared to the architecture typical of the area around La Junta. The closest match was Spanish Colonial. The eeriest aspect of it was that in spite of the juniper’s swallowing it, it didn’t look like it had been abandoned for any lengthy period of time.
I approached the door - a slab of wood impressively resilient to weather - and stuck my head into the shadow beyond its yawning threshold. Its walls were tagged with an eclectic mixture of symbology, some of it Satanic, some of it native. Others defied my erudition.
As I grew bold enough to enter, my advance was stopped by a voice.
“Yeah, figured you’d check it out.”
“Mortaren?” I turned to face the orchard, whose miasma cloaked the figure. “Wanted to see it for myself. Doesn’t strike me as a place to stash a server.”
“Exactly.”
Mortaren, my erstwhile host, stepped out of the enshadowment and joined my stance at the door’s threshold. I sensed by the immediate familiarity he conveyed to the structure that he wasn’t a stranger to its curiosity. I followed into the abode and almost immediately choked at a waft of putrefaction - urine and feces from sources unknown. Squatters - or worse - I started to suspect may have sought the refuge of its confines. Still, Mortaren was not concerned.
Nor was he curious about the freshly-minted tools strewn about the rubble. Gear that I recognized from my years of hiking had been folded into the mess as if to disguise it. I detected, too, the odor of gasoline - faintly and sublimely - as if it were a suggestion stirred by the train that passed by.
“It hasn’t been a residence since the seventies.”
“Well if that’s so, it’s a mix-up.”
“No! Little of the sort, bub, this,” he said of it, swinging a finger around his head toward the upstairs, “this is the spot. Everything that happened, happened here. All of that was filmed where we stand. ZuZu or whomever they worked for, they chose this site not for the way it looked outside but inside. Then ZuZu embedded those clips of it into the code.”
“Is it booby trapped?”
“In a manner of speaking.”
We worked past the foyer and the library that followed it. We walked: Mortaren at the front and I at the back. Could it be doubted anymore? My host splayed intimate knowledge of the abode which could have come only from a personal investigation. How many times had he stopped by? Perhaps he more than stopped by? Perhaps he more than investigated.
We entered a wide, tall hallway and paused. The chamber was pitch except for a window at the apex of the stairs which blasted a square-shaped spotlight onto the floor at our feet. Behind us the hallway emptied into a kitchen. Light that filtered through its windows lent it a vibrant, green glow. A glow that came from the vegetation clogging that chamber. I noted flickering, whistling lights like fluorescents out of view but not of earshot.
Mortaren refused my help to unroll a tarp; “touch nothing, nothing - don’t leave a print anywhere, kiddo, you gotta trust me, OK”. He revealed a set of tools: pliers, machetes, rakes, and a crowbar. My host took the crowbar and aimed it at the stairs. “Let me give you a word of warning - if you insist you want that game - alright more, more than a word. Yes - I got it. And I’m far from the only sucker, let me say. I suggest, whatever you do, you don’t ever install it, you don’t ever play it, you don’t even stick it into a drive that autoplays, OK?”
We ascended; the stairs were droopy and I struggled to stay upright.
“Not saying that ‘cause of what it’ll do to your rig - you know what it’ll do, I don’t need to tell you what it’ll do. It’s the sort of stuff that’ll bring the FBI to your door faster than you can say Blue Beelzebub. No, damn it, it’s how that abomination tears into your soul. It’ll compromise you and that’s intentional not accidental. It wants to beat you into submission. The fear - that you’ll be found, that you’ll be trapped - imagine every day, every day thinking ‘today’s the day it happens’. It took a year to convince the FBI I didn’t know what that game was about and then it was too late to save my arse.”
Upstairs, my host drew my steps into a chamber whose walls were a faded memory of yellow. Cracks formed like veins running the heights of the walls. The reek of corruption, like that of decay, attacked us fiercely. A hum issued out of the air; it was strongest at the center where the rug that cloaked the floor bulged.
Mortaren applied a streak of coroner’s salve to his upper lip. I added a dab to my face. My host insisted I should be thorough; so I complied.
The chamber was a formal salon, a pit of “opulence and decadence” for the 70s. Furniture lay scattered to rot. An armoire, as tall as the salon, waited at the far end with its doors wide, agape almost like arms outstretched to greet us. It, like the rest of the furniture, soaked the elements and charred into onyx as if burned. Slowly my eyes accustomed to the ambiance and as such I grew cognizant of a trove of esoteric details. Books strewn about. Mounds of salt. Blobs of candles. Pentagrams. All of that competed head-to-head with the scratches etched into the walls.
I found a fingernail embedded into those scratches....
“After I posted the demo, a fan - let’s say they were a fan - contacted my office about it. They offered assistance and I, reluctantly out of curiosity - I complied. I sent them copies of the game. That was my downfall, kiddo.” He stopped to take a breath. “Imagine it. The stuff of nightmares that destroys a man’s life fits so perfectly into a pair of three point five inch floppies. Well, that fan reverse-engineered the executable. Dude sent everything right back to my house with a stack of paper. Never heard of them again. I assumed they were the first to contact the FBI. Can’t blame ‘em.”
Mortaren pointed to the rug that spanned the floor.
“Is that hum under the floor?” I asked - he nodded.
“The sound isn’t from the server, though.” Mortaren lifted the corner of the rug with the crowbar. We cleared the furniture and rolled away the carpet. It decomposed into rubble just by touching it as we did. “It’s a crazy layout. The house was built over a shaft. This room it’s, it’s right over that shaft. The hum comes from the way air works through it.”
“So ... the server is real and it’s here?”
My host nodded; “The game’s cloak and dagger - a virus that turns your rig into a zombie. You work for them, now, now, you’re part of something worse than anything you imagine. The events that created this mess, this wreck that you see - it was filmed right where we stand. ZuZu transferred the footage to AVI clips and used it to create the maze’s layout and texture. My fan, when they broke apart the game, they found the clips embedded right into the code and I had to watch ‘em, didn’t I? I had to watch ‘em. Look, it’s not over, OK. The ritual they started, it doesn’t end, it doesn’t, ever, end.”
I dared not ask what kind of ritual it was. The gaze of his eyes as they relived the video spoke volumes. His whole entire body shook as if the violation were fresh.
“I tell you the strangest part of this business. The people who started it, they’re a crazy kooky sex cult out of NAZI Germany. Yeah, they used Crawley’s sex-magik. They never touched kids, though. It wasn’t about the Cheese Pizza for ‘em. But the Chinese Sandwich wasn’t any better.”
We walked into the center of the salon, to a spot where the rug had bulged. Removed, we saw what it was. A circle had been drilled into the wood and plugged by plate like a manhole.
Mortaren lodged the crowbar into the crack at the circumference of the plate.
“You’ll never get it until you see it from their perspective. Twisted as it is. You gotta see it through their eyes. The game exists to re-create the ritual - to recreate the ritual and make you part of it. Simply by watching it, by playing it, you get tainted and that by itself makes you part of it. Damn it.” He tapped the crowbar to the plate that refused to budge. “Haven’t I tried? It’s not enough, is it? Am I too old, at the end? The server.... It’s at the end of the shaft, a hundred feet below. I donno how it’s powered. Maybe it’s geothermal? I donno. It’s there, idling, watching and waiting for a signal to awaken. It’s what sustains the game and the spreads the ritual. It’s the heart of the beast.”
###
Cheese Pizza and Chinese Sandwich, to those not aware of 4CHAN and its vernacular, is code for ‘Child Pornography’ and ‘Child Snuff’, respectively. ZuZu and LVN used the dog-whistles of their day to advertize the game to a certain clientele. But the cult that bankrolled Blue Beelzebub abhorred the former as it embraced the latter. And the game itself contained tedious 90s shock - glimpses of death and its like - it never showed the goods, so to speak.
The CD contained the augmented DOS the game installed as well as a thorough, documented unraveling of the game itself. Mortaren’s fan discovered and saved BMPs and AVIs that had been embedded into the code. I slipped that CD into a drive and scanned its contents with my virus and malware checkers. Not a single program detected a problem. Given the sizes of the files, though, I found it disconcerting that my checkers took minutes to complete.
Mortaren’s fan had placed their deconstruction of the game’s executable into a ZIP folder. The majority of it consisted of code that they converted from binary to ML to C. It was fascinating to gawk as the code which appeared so professional. Yet, as C was not a strength of mine, I found it vague and cryptic overall.
I dug into the multi-media directory and extracted images and clips that had been stored there. Saved to my laptop, I selected the largest AVI and played it. That film, whose sights and sounds were equally vivid and jittery, oozed the impression of an 8 mm production. It had been subbed in German and I (mostly) followed it.
Mortaren got it right - the clip had been filmed at the house by US-350, specifically, at its salon. I paused to check the layout and compare it to my notes of how I found the furniture and the other, macabre ancillary. Amazingly, decades after the fact, everything matched.
###
The clip itself comprised a continuous stream formed of what had to have been a sequence of shorter segments:
1irst Segment:
At a couch sit three women - an older, frailer matron flanked by younger versions of herself. They chat with the cameraman (I assume).
2econd Segment:
The matron walks out of the frame and the cameraman pans to the opposite side of the salon where a man approaches the couch. The man is dressed in a style similar to that of Crowley’s regalia - decked head to toe with shades of violet and onyx. The magik-man approaches the couch with the women and offers them leis that they take and wear.
3hird Segment:
The matron reappears, followed by a pair of Amazonian-like natives - they were naked but their bodies were painted. The lei’ed women at the couch rise as the matron introduces them to the natives. It’s at that juncture that the cameraman reveals the women, too, have been painted. Neither men’s or women’s paints are native-like; rather, the runes are straight out of Thelema.
4ourth Segment:
The magik-man sits at the rug between a pair of circumscribed pentagrams. The magik-man lights a roll of sage (?) - the lack definition masks the identity of the object. Smoke billows out of it as he waves it over the pentagrams. The matron sets lights and sets six candles - three to the left and three to the right of the magik-man.
5ifth Segment:
The cameraman drifts down and to the left, down and to the left, down and to the left, to reveal the orgy. Painted men and women are paired and writhe about the pentagrams. The males lay with their backs to the floor and their heads crowned by the candles. The females lay atop the males. Their limbs intertwine. Their bodies contort. All to the rhythm of the magik-man beats into a drum.
6ixth Segment:
The matron, naked and painted, sits in front of the magik-man and extends a chalice.
7eventh Segment:
The magik-man pours the content of the chalice onto a loaf of bread. The cameraman zooms into that bread - it is shaped like a baby. At that instant the hands of the males and the females, their paint smeared and mingled post-orgy, reach onto the bread and yank it into four-quarters. They eat the bread.
8ighth Segment:
The magik and camera men remain at the salon; it’s night, it’s lit by torches.
They peel away the rug and reveal a circular portal into a shaft.
For a while the magik-man speaks to the cameraman. Subtitles state: “we consecrate the well - are you ready to see it again - to see it as it is enlivened by the spirit of [REDACTED] spurred by the ritual - are you ready - do you think you are ready”, then, “it looks like a hundred feet”, then, “as if a hundred feet were enough”.
9inth Segment:
The bulk of the video consists of the exploration of the mine at the base of the shaft. The magik-man takes turns, sometimes leading, sometimes lagging, always speaking although the German is not translated throughout this segment.
The pair reaches a part of the maze that collapsed. Although their posture is merely suggested by the aim of the camera, the pause and the silence that follows indicate that they are not ready for the obstacle and so struggle to clear a way through it. The viewer notes by the appearance of their hand that the cameraman is at last captured by their own footage.
The pair works through the collapse and discovers a vast, circular chamber.
The chamber is lit, awash by an eerie, hazy blue light. A crack crazes across the chamber. The light filters through that crack. The cameraman savors the chamber - it’s adorned like the salon; it’s a site where the cult practices its rituals. The cameraman sweeps toward the crack, prompted by a sound that startles the magik-man.
The cameraman zooms into the crack - it’s like a well, filled to the brim with water. It’s almost like an abyss, it sinks on and on hundreds if not thousands of feet; the limitations imposed by the film and the pixilation cannot do the reality any justice.
The water is upsettingly transparent through and through - and straight into the blur of light at whereever its bottom lay.
As the magik-man speaks off-screen and the cameraman continues their zoom, it’s apparent that there are things, things of a sort not floating but swimming through the water.
I scream as the view jostles - it is not a jump or a cut, though, it is the cameraman’s shake. Whoever it is that films that site, they had been startled by movement elsewhere. As the camera’s view twists to the side, it pans by where the magik-man stands and captures a glimpse, just, a glimpse of something that had been standing at the other side of the chasm right as it jumps into the water.
###
The house off US-350 loomed abandoned in appearance only. Nobody occupied it since the 70s; however, it was not derelict. County records verified that its owners - Ache Industrias, SA - paid its taxes year after year. Ache Industrias, named for a tribe of South American natives, was a company from Paraguay famous for its advances (and patents) re: GMOs. They were a partner to Monsanto but not as known outside of agriculture. Ache Industrias owned that house and the farms that engulfed it; a total of 500 acres.
BM: “Word is that the company wants to use this land for research.
“A lobby out of Denver, that represents a lot of cattlemen, filed a lawsuit working its way into the Supreme Court at this rate.” Farmers and ranchers who would be, effectively, neighbors, sharing their grazing rights of the nearby Comanche Grasslands objected to the idea, fearing the consequences to their business if their livestock mixed with the GMO livestock.
“Meanwhile the acreage isn’t dormant; it’s rented and reaps a lot of profit from royalties.”
Ache Industrias wasn’t the first owners, or, as it should be stated, wasn’t the first incarnation of the first owners.
BM: “An occultist, Straniak, was its proprietor of record according to my contacts from Brazil.”
Straniak, in partnership with two other expatriated Germans, formed a company c. 1930 then known as Straniak-West. Although the exact nature of Straniak-West wasn’t advertised, it’s suspected that they profited from the Chaco War and the partners became wealthy in spite of the Great Depression (which had been a world-wide phenomenon). As Europe verged into WWII, Straniak-West changed its moniker to Ache Industrias c. 1940. Around the tail end of 1941 the partners bought a thousand acres around the La Junta area; about half of the original estate was shed through the years.
BM: “Straniak and cohorts summered at their Colorado estate. Right up until they started to rent the land, the house had been the estates only, permanent structure. They used its solitude to mask their rituals.”
The cult / company was especially fond of that house and guarded its secrets.
Mortaren, as an aficionado of the occult, a passion that spurred him to review games of that genre, became aware of Aleister Crowley and the Thules, chieftains of bizarro early 20th mysticism, strands of which wormed their way into the works of Lovecraft, Blackwood, and a slew of other writers.
Straniak, and allies, German mystics intimately linked to the Thules, “a society with their own weird take on Aryanism” whose forays into sex-magik, blood-magik, and sacrifices made them too extreme even for the NAZIs.
“He fled to South America before Hitler, if you believe that sort of stuff.”
The house wasn’t built by Straniak and Co, though. It already existed by the time they hired a crew to survey their property c. 1933.
That area of Colorado had see-sawed between Spain and France before it was ceded to the US after the Mexican-American. Records from two centuries ago were hard to come by. Historians were reduced to combing through diaries and correspondences, however, the ephemera revealed a portion of history that otherwise had been lost.
The house used to be part of a hacienda granted to a patron of great wealth. Disagreements arose re: their identity as the sources used to piecemeal the history were themselves uncertain if the figure was American / English or French. Nevertheless, they built an extensive estate c. 1792. The house used to be larger; an earthquake c. 1820 reduced it more or less to the dimensions that Straniak & Co. found it.
What probably enticed the occultist crew was what legends claimed had been revealed after the earthquake. Namely - that the house had been erected over a mine from prehistory. The earthquake, as it leveled the house, revealed a shaft into that mine – which so happened to contain gold. Tthe patron used its revenue to rebuild the house - albeit to modest proportions - with the novelty that the house hid or capped the entrance into the mine.
BM: “The cavity underfoot itself isn’t the end-all and be-all. The cult was attracted to something else, something else not connected to wealth. Is it a portal into another realm? I donno what but it called to them and they poured resources into it.
“They recorded all of their rituals; the climax of which, which became Blue Beelzebub, if my timeline’s correct, matches an earthquake in 1983. It wasn’t much of an earthquake but it explains part of the video. It ripped a gash through the system. The server’s got to be inside that chasm, drawing power from geothermal. A system designed to work for ages without intervention while their poison spreads through the internet. Ah, but it won’t be there for long, I promise you.”
Night cloaked the house as we descended its rickety, tilted staircase. It felt as if the structure somehow, someway gained a sort of sentience after decades of mysticism echoed through its confines. I fancied it understood Mortaren’s intentions and shook at the foreknowledge.
If it goes, won’t that destroy the evidence? What about the crimes they committed? Won’t they go unpunished?
BM: “Altruism, don’t deny it, kiddo.”
My erstwhile host was adamant about their business and refuted my pleas to reason otherwise.
By destroying the house, they claimed, they would be saving lives, lives yet to be taken.
BM: “Kiddo, you’re talking about people, people who will never be punished never, never, never be punished for anything. Blue Beelzebub, it’s just the tip of the tip of the iceberg. And you know it. It’s always like that. They regroup and reorganize. But they took me down. And I’m gonna take this much, this much if anything away from them. Mark my words, they’ll imagine another way to entrap kids and spread their filth. And that’s where you and those like you continue what I start tonight.”
###
A stark midnight moon loomed to the south west over the jagged peaks of the Sangre De Cristos. There wasn’t a cloud to mar the sky. Crisp, summery wind stirred a floral scent about the air, then it faded, driven away to the ether by a tide of gasoline then of a char / smoke. I drove by the orchard where I noted how the orange escaped the house. It almost looked like a face, a skeletal face, buried into the junipers. I waved. Maybe the gesture was or wasn’t returned. I didn’t stay.
That was the last I saw of Bobby Mortaren.
I dismantled the laptops’ HDDs; I scraped the platters then I applied a welder’s torch to them, fusing them, melting them, obliterating any trace what so ever of the data they contained. Later I shredded the floppies and the CD and the papers. For all I knew those may have been the last, extant copies of Blue Beelzebub.
My paying job resumed its malaise although I noted that my contacts with the FBI waned. Then my editors shuffled my workload. Cases I had been assigned to were re-directed elsewhere. Leads dried. I was shunned more and more. I could not help but recognize a familiarity to the pattern - to the way I was being isolated and overshadowed. I tried to squash the paranoia that may have transferred to me as I entertained the notion of starting yet another career.
Little had been reported about the explosion south of Timpas that night.
I eked out a single article about the decline and fall of bitcoin. After that I put my thoughts together to form this record of my dealings with Blue Beelzebub. Partly to settle the history of it - as much of it as I understood. Partly to form a defense. I wanted to be transparent; there’s such scant cover for journalists nowadays.
Earlier I received a call from a woman, a former FBI agent who claimed they owed me a favor.
They warned that “I had been flagged by an anti-virus software vendor that works with the government”. Apparently, the anti-virus / malware scan had detected a rare item and reported it to the vendor’s server for analysis. That’s how the NSA discovered “the executable” with “embedded content” that “raised eyebrows”. It wasn’t just the government that started to investigate Blue Beelzebub, they continued, “a third party, a cryptic South American outfit”, long suspected of trafficking and exploiting minors, “sparked a lot of chatter across the deep-web about you. You got enemies, son, lots and lots of enemies.”
I didn’t know of any FBI agent, current and / or former who “owed me a favor”. I stated that in fact I had received a couple of floppies from a source familiar with the game. Naturally, I scanned the media. “I couldn’t get the program to work properly. It needs DOS and there aren’t too many PCs like it anymore. I destroyed all of that ‘cause it gave me the creeps.”
It wasn’t entirely a lie.
submitted by 0fruitjack0 to nosleep [link] [comments]

[uncensored-r/Bitcoin] r/Bitcoin recap - February 2018

The following post by SamWouters is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/818fkc
The original post's content was as follows:
Hi Bitcoiners!
I’m back with the fourteenth monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in February 2018
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Cryptocurrencies on pace to close volatile trading week positive following Ethereum Classic addition to Coinbase Index Fund and the launch of the BOLT privacy overlay for Zcash on the lightning network

Developments in Financial Services

Regulatory

General News

Sources:
https://www.ccn.com/asias-largest-stock-exchange-is-honestly-troubled-by-a-cryptocurrency-firm/ https://www.newsbtc.com/2018/08/13/does-50-decline-in-the-turkish-lira-prove-bitcoin-is-better-than-fiat/ https://news.bitcoin.com/crypto-cafe-and-coworking-space-hash-house-established-in-xian-china/ https://bitcoinist.com/cryptocurrency-regulations-india-months/ https://www.coinspeaker.com/2018/08/13/ripples-expansion-plans-overshadowing-its-lawsuit-worries/ https://bitcoinist.com/saudi-arabia-bitcoin-trading-illegal/ https://www.coindesk.com/square-expands-cash-app-bitcoin-purchases-to-all-50-us-states/ https://www.ccn.com/thailand-police-seek-more-arrests-in-24-million-bitcoin-fraud/ https://cointelegraph.com/news/venezuela-to-use-petro-as-unit-of-account-for-salaries-goods-and-services https://www.coindesk.com/bitcoins-taproot-privacy-tech-is-ready-but-one-things-standing-in-the-way/ https://www.newsbtc.com/2018/08/15/coinbase-continues-to-add-50000-users-a-day-during-bear-market/ https://www.coinspeaker.com/2018/08/15/crypto-goes-green-using-renewable-energy-in-cloud-mining https://cointelegraph.com/news/citrix-survey-more-than-half-of-uk-companies-hit-by-cryptojacking-malware-at-some-point https://cointelegraph.com/news/japans-messaging-giant-line-sets-up-10-million-hong-kong-blockchain-venture-fund https://www.coinspeaker.com/2018/08/16/google-blockchain-and-ethereums-future-vitalik-buterin-shares-his-thoughts-at-a-private-event-held-in-san-francisco/ https://blockonomi.com/vitalik-buterin-future-blockchain/ https://www.coindesk.com/pantera-capital-raises-71-million-for-third-crypto-venture-fund/ https://www.newsbtc.com/2018/08/16/ethereum-classic-etc-surges-after-coinbase-consumer-confirms-listing/ https://www.coindesk.com/asx-head-says-new-dlt-system-could-save-billions/ https://cointelegraph.com/news/soft-crypto-etf-alternative-now-geared-towards-us-investors-says-bloomberg https://www.ccn.com/gnosis-creator-ethereum-adoption-is-about-dapp-network-effect-not-users/ https://www.newsbtc.com/2018/08/16/crypto-exchange-huobi-partners-with-five-firms-to-launch-trading-platforms/ https://cointelegraph.com/news/binance-lcx-launches-fiat-to-crypto-exchange-in-liechtenstein https://www.coindesk.com/ripple-endorses-preferred-crypto-exchanges-for-xrp-payments/ https://www.ccn.com/ripple-picks-three-crypto-exchanges-for-international-xrp-payments/ https://cointelegraph.com/news/ripple-partners-with-three-crypto-exchanges-as-part-of-xrapid-solution https://www.newsbtc.com/2018/08/17/xrp-recovers-as-ripple-expands-crypto-exchange-partners/ https://www.ccn.com/genesis-mining-offers-customers-a-discount-to-offset-falling-bitcoin-rewards/ https://cointelegraph.com/news/genesis-mining-compels-certain-customers-to-upgrade-btc-mining-contracts https://www.coindesk.com/jd-com-rolls-out-blockchain-platform-with-its-first-app/
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Apple Coin, When To Sell Bitcoin?, ERC-20 Sleuthing & Tether Lawsuit Mania Bank of America's Cryptocurrency Patent! Haven Protocol - Today's Crypto News Craig Wright Threatens BTC Core and BCH With Potential Lawsuits WAX ON: Are Patent Wars Coming to Blockchain? Is RIPPLE XRP Still Worth Holding? Bitcoin Demand & Investors Increase - Coinbase DeFi Security

Tencent is looking to accelerate its patent hoarding with 718 filings last year. ... Katy Perry successfully had a ruling reversed concerning a lawsuit filed by Christian rapper, Flame, that sought $2.8 million for Perry’s use of 8-bit musical timbre in the song Dark Horse — which Flame claimed had been stolen from his song Joyful Noise. In 1993, former Creedence Clearwater Revival singer ... Also Read: Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright. You want the latest news about Crypto? Then follow us on Google News! So-Called Satoshi’s Quest to Patent the Blockchain . The notorious Craig Wright, a man who claims to be Satoshi Nakamoto, is continuing his effort to obtain hundreds of cryptocurrency and blockchain-related patents. Wright is the chief ... Also Read: Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright. So-Called Satoshi’s Quest to Patent the Blockchain. The notorious Craig Wright, a man who claims to be Satoshi Nakamoto, is continuing his effort to obtain hundreds of cryptocurrency and blockchain-related patents. Wright is the chief scientist of Nchain but is best known for his attempts to prove he created ... Also Read: Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright. So-Called Satoshi’s Quest to Patent the Blockchain . The notorious Craig Wright, a man who claims to be Satoshi ... Also Read: Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright. So-Called Satoshi’s Quest to Patent the Blockchain. The notorious Craig Wright, a man who claims to be Satoshi Nakamoto, is continuing his effort to obtain hundreds of cryptocurrency and blockchain-related patents. Wright is the chief scientist of Nchain but is best known for his attempts to prove he created ...

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Apple Coin, When To Sell Bitcoin?, ERC-20 Sleuthing & Tether Lawsuit Mania

VOICE SEC Launch, Bitcoin Auction, ZebPay Re-Open, Stablecoin Patent & Fear In The Market The Modern Investor . Loading... Unsubscribe from The Modern Investor? Cancel Unsubscribe. Working ... Craig Wright, who claims to be the Bitcoin creator known as Satoshi Nakamoto, has warned the BTC Core (BTC) and BCH to stop using the Bitcoin database in order to avoid potential lawsuits. He ... "A long list of Bitcoin (BTC) and crypto-related companies are now facing class-action lawsuits that accuse them of illegally selling unregistered securities in the United States. The founding President of the Bitcoin Association Jimmy Nguyen elaborates the nChain position in filing patent applications and what the future holds for Bitcoin SV ecosystem. Don’t miss other ... - WeBank Ranks Third in Blockchain Patent Filings For 2019 - Portugal Unveils ‘Free Zones’ for Emerging Technologies in Digital Action Plan Disclaimer - Thinking Crypto and Tony are not ...

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