User pirateat40 - All Bitcoin Addresses ...

How trustworthy are the authors of Electrum and MultiBit ? Why are their signing keys not verified?

I was a bit alarmed by these two posts some weeks ago:
In the first case, basically somebody registered a PGP key which at first glance looked like the signing key from Gavin Andresen. Such a key could be used to sign malware which appears as the true bitcoin client. This would only be detected if people check carefully. If people do NOT check it - maybe rushing in a situation where the network needs a quick fix - the consequences could be truly disastrous.
In the second case, the Electrum website was actually faked to distribute malware which was camouflaged as the Electrum client. If people install such a client, it could send their bitcoins anywhere - this kind of attack can really cause a lot of grief, too.
Note that in some simple setups, it might be possible to recognize the faked web site by its address, but in other cases, this will not be possible - think of insidious attacks on home routers or exploits of the recent Apple "goto" bug, which essentially disables SSL protection.
In these cases, and whenever youinstall bitcoin software, it is always important to check for digital signatures of the maintainers, which can warrant the authenticity of the code. And, doing this properly includes verification of their keys.
To make it short, I was newly installing Electrum and I decided to do it right and to look after the digital signatures and whether the signatures properly certified in a web of trust. Now, trust paths can be looked up by databases like these:
It works so that in the "from" field, you enter YOUR key ID (which needs to be connected to the web of trust graph). In the "to" field, you enter the key ID of the signing key for the software. Now, you should be able to find at least one trust path from you to the signing key for the software. For example, if Mark Shuttleworth wants to verify the key of Gavin Andresen, he enters his key ID: D54F0847 into the "from" field, and Gavin's key - 1FC730C1 - into the "to" field. This will look as here:
The trouble is, if Mark looks up the key for ThomasV, this looks so:
that is currently, no trust paths to ThomasV's key are found. The same is true for Jim Burton, maintainer of Multibit.
In other words, ThomasV's key cannot be verified, if somebody does not has other means. Well, somebody could look into the bitcoin forum - but first, the forum can be and has been hacked. And second, a forum identity does not mean much. Pirateat40 had an account, too, as well as the owner of bitcoinica.
I do not suspect the developers of working in an evil plot, but honestly, I'd really like to know a bit more.
Now, I have a few questions:
Edit: A few developers have posted here... can other people confirm what they say? Can it be proven? Anyone was at that conference?
Edit: As an important clarification: The fact that a key can be found on a keyserver, is signed by some entity, or is contained in the "strong set" of the PGP web of trust or in any web of trust does not necessarily imply that the key is linked to an authentic identity, end even less that the owner is a good guy. It only provides a mean to check this identity and to support the assumption that the identity is correct, independent from hacking attempts.
And as a reply to some badly downvoted comment: Yes, knowing or probably knowing the identity of the auhtor of some code is by no means a substitute for skilled people carefully checking the code and any change in it.
submitted by DrunkRaven to Bitcoin [link] [comments]

Vladimir (Atlantis admin) official statement

I saw this posted in the SR forum and figured I would repost in case others have difficulty accessing the forums. Hi all,
It has come to our attention that some users on Silk Road believe the following;
1. That I am a scammer and was involved in a Ponzi scam on Silk Road. 2. The moderators at Atlantis market are deleting user comments. 3. Our forums term of use policy is aimed to arrest people and record information. 4. That we are DDoS'ing Silk Road. 5. Our PGP system is crackable.
I'd like to take the time to address each point and if you have any questions, please don't hesitate to reply to this thread. The staff members at Atlantis and I are happy to address your questions.
1) This belief has come into existence as 'Vladimir' was a scammer on Silk Road and thus people thought I was the same person as him. Unfortunately without knowing Vladimir's past history, this is my name and the one I have chosen to use. Hypothetically if I was Vladimir, why would I use a scammers alias at a market place which deals directly with user funds? It wouldn't help build trust in our market place and doesn't make any sense at all. Its the equivalent of pirateat40 creating a new Bitcoin Savings and Trust scheme and asking people to re-invest in it. We're proud to say that in our 7 weeks of operation, we have suffered no down time, no users have lost funds and security concerns have been addressed promptly (like increasing PGP key support up to 16Kbits).
2) We have deleted posts only related to spam, posts involving unfounded claims or accusations (FUD) and have deleted no posts in which people have given us criticism, bug reports or requests about improving security. You can check the relevant forum sections to find examples of this. We actively encourage this feedback as it helps us create a better market place. We are here to help users and are happy to reply to any security concerns or criticism you have. We have also created a sticky topic in the general forums for people to post whatever conspiracy theories they like. We will not be moderating this thread however the other forum rules still apply.
3) We used the default term of service which comes with the forum software. You can find an exact replica when you download and install the SMF software. This has now been updated.
4) We believe competition is healthy and believe that Dead Pirate Roberts is a great leader. We also need to shed the light that Silk Road has had technical issues in the past, even when we weren't around. Things like item listing image hijacking, denial of service attacks, site upgrades and switching hosting providers all caused down time. Although it would assist in us gaining more market share if our largest competitor is down, we have no desire to resort to dodgy tactics. We believe that what goes around comes around.
5) The auto-encryption service only works IF the user or vendors uploads their PGP public key (we support key sizes of 1024 - 16384 bits). However, Atlantis also supports manual encryption outside of Atlantis in which users can use a PGP client to encrypt their message. Atlantis administrators and law enforcement could not decipher the encrypted message without the users private key. With all this said, the security comes down to the end user. If they don't trust the auto-encryption service, they can STILL manually encrypt the message outside of Atlantis and thus there is absolutely no risk of anyone being able to decipher the message. To this day, PGP with large key sizes (>= 4096bits) is still uncrackable, you can find more information about it here: Noting: 'there is no known method which will allow a person or group to break PGP encryption by cryptographic or computational means.'
As stated earlier, if you have any concerns please don't hesitate to reply to this thread. Lastly, we'd like to thank all the people who have put their trust in Atlantis and believe in where we are heading. The ride is only just starting and we're glad to have you as part of Atlantis
submitted by reaperx2 to SilkRoad [link] [comments]

Legality of cryptocurrencies

Regulations or positions of some countries about cryptoworld Because governments can sometimes be a bit touchy about attempts to create alternatives to the legal tender they enjoy a monopoly on printing, a wise investor might wonder about the legal status of cryptocurrencies. Indeed, the disruptive potential of these technologies has made governments around the world nervous, as they have struggled to devise appropriate regulations for the cryptocurrency realm without stifling innovation. Most potential investors have nothing to worry about from a legal standpoint, but it pays to do one’s homework.
Regulations or positions of some countries about cryptoworld Some countries have banned or ruled unconstitutional the use of cryptocurrencies within their borders, while others have embraced them or even announced plans to issue their own. Of course, due to the inherently decentralized nature of cryptocurrencies, enforcement has proven difficult. Taxes levied on profits made trading cryptocurrencies vary based on their legal classification. Check the laws in your country, and make sure you abide by them when investing. Questions of legality in major markets have caused temporary dips in cryptocurrency prices over the years, but they have always recovered. Keep reading for a brief history of legal rulings and government announcements related to bitcoin that have helped shape the current ecosystem.
February 2012
Payments services firms Paxum and Tradehill temporarily cease bitcoin exchange activities due to legal concerns raised by Canadian regulators.
28 March 2013
Cypriot investors drive up bitcoin prices seeking a refuge for savings when a government bailout program threatens to tap bank deposits.
14 May 2013
The United States Department of Homeland Security seizes almost $3 million from a subsidiary of the Mt. Gox exchange, claiming that the business is illegally engaged in money transmission without a license.
30 August 2013
Tradehill stops exchanging bitcoin, again due to regulatory uncertainty, indicating a growing need for government clarification on the legal status of cryptocurrency.
October 2013
The U.S. Federal Bureau of Investigation arrests operator of Silk Road dark web marketplace Ross Ulbricht, alias “Dread Pirate Roberts,” charges him with computer hacking, money laundering, drug trafficking and attempted murder, shuts down the site and seizes over 170,000 bitcoins. In the wake of the shutdown, numerous other illicit marketplaces emerge, but are prone to exit scams in which operators abscond with bitcoins held in escrow.
18 November 2013
U.S. Senate holds hearing titled “Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies.” Members express reservations about the potential illicit applications of cryptocurrencies so vividly illustrated by Silk Road, frustration at the difficulty of regulating something so difficult to understand, but ultimately hope that government will be able to create a system in which decent people have a “chance to try and play by the rules.”
22 November 2013
China’s central bank issues an equivocal statement on bitcoin that nonetheless greenlights Chinese participation in cryptocurrency exchange and investment, prompting huge price gains over subsequent weeks.
05 December 2013
Backpedaling somewhat in response to the widespread use of bitcoin to circumvent limits on capital outflows, China bans banks and other financial institutions from dealing with or offering services relating to bitcoin, ruling that it is not a currency.
25 March 2014
The U.S. Internal Revenue Service issues its first guidelines for bitcoin, ruling that it is to be taxed as property, not treated as currency.
10 April 2014
Under government pressure, Chinese banks begin to shut down accounts belonging to bitcoin exchanges. Prices drop 10%, but many exchanges exploit loopholes and offshore parts of their businesses to continue operating.
July 2014
The state of New York announces plans to develop licensing requirements for businesses dealing in bitcoin or related services, which proves extremely unpopular with cryptocurrency advocates.
06 November 2014
Trendon Shavers, alias “pirateat40,” arrested for defrauding bitcoin investors in Ponzi scheme in 2012.
19 December 2014
Bitcoin entrepreneur and proponent Charlie Shrem sentenced to two years in prison for illegal money transmission charges related to the Silk Road marketplace.
25 January 2015
Coinbase navigates regulatory frameworks to win approval to operate a fully-fledged bitcoin exchange in 25 U.S. states and sets sights on further expansion.
25 March 2015
Hong Kong officials warn against potential fraud on exchanges, but indicate they will take a light hand regulating cryptocurrencies, classifying them not as legal tender but as “virtual commodities.”
29 May 2015
Ross Ulbricht receives sentence: life in prison without parole. Judge Katherine Forrest explicitly seeks to make an example of him and thereby discourage others from using cryptocurrency and the relative anonymity of the Internet to flout the law.
01 August 2015
Mark Karpeles, former Mt. Gox CEO, arrested in Japan and charged with falsification of records relating to the solvency of the exchange during its collapse.
10 August 2015
Deadline hits for compliance with New York regulators’ “BitLicense” rules, leading many exchanges to stop serving customers in the State.
22 October 2015
Crypto advocates hail a European court ruling that VAT does not apply to bitcoin and other cryptocurrency transactions, thereby classifying them as currency, not property.
10 November 2016
The state of North Carolina creates legislation to address bitcoin and money transmission, which regards businesses dealing in virtual currencies as subject to the same set of rules and licensing requirements that govern transmission
10 March 2017
The U.S. Securities and Exchange Commission denies Cameron and Tyler Winklevoss authorization to create a bitcoin-based ETF, citing inadequate regulation of cryptocurrency exchanges.
28 March 2017
The SEC denies the Winklevoss brothers’ second request for authorization of a bitcoin ETF, again citing concerns about the lack of regulation and potential for fraud on the exchanges.
01 April 2017
Japan recognizes bitcoin and other cryptocurrencies as legal tender and lays the groundwork for supportive regulations intended to permit legitimate investment while discouraging money laundering and terrorist financing.
04 September 2017
China prohibits fundraising via initial coin offerings, which it considers illegal.
07 September 2017
The European Central Bank rules out the possibility of Estonia launching its own national cryptocurrency, reaffirms the privileged status of the Euro as legal tender, and cites concerns that national cryptocurrencies would undermine financial regulations.
06 December 2017
Softening its initial stance, Russian regulators indicate that new rules may allow the purchase of cryptocurrencies, but forbid or heavily restrict mining activities.
07 December 2017
Regulators in South Korea ban trading in bitcoin futures as well as initial coin offerings(ICO), but will permit cryptocurrency exchanges to continue operations.
submitted by Which_Blockchain to u/Which_Blockchain [link] [comments]

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Pirateat40 was the biggest of the Bitcoin Ponzi schemers to date, and reading through his thread will provide insight into the ways of scammers, shills and their victims. Sadly, victims are often ... 8u5a17tzalfw 3x995bl69avh f8riog24o0u5s 2aeni0x6aq79z pvaf3hnqarcw x5beudef6xc0 yt55srp4lppy h37urmvn0m3 7ylgjhzngxbn40v 05ftagjxxoo4i0 bdl4nlm0nqla8y1 g637lel1d5ucvn ... Kashmir Hill – Federal Judge Rules Bitcoin Is Real Money: . contributor Kashmir Hill highlights a new development regarding ways existing laws can be applied to Bitcoin-related activity.Excerpts: “In defending himself against the SEC suit, Shavers argued that Bitcoin isn’t actually money and that the SEC shouldn’t be able to prosecute him.” All Bitcoin transactions and addresses for user pirateat40 on, who stole $4.6M with their Ponzi Scheme. Pirateat40 himself disappeared from the forum at that point as well. Even before the scheme failed, forum users doubted BST and many believed it to be a Ponzi scheme. While security and piracy is part of the bitcoin world, BST sits atop as the largest bitcoin related fraud that was committed since its creation in 2009.

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