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OHCC Exchange Partnership and the fractional exchanges that support it. Your exchange may be counterfeiting cryptocurrency!

OHCC Exchange Partnership
OHCC is the behind-the-scenes trading that goes on between the big three chinese exchanges - OKCoin, Huobi, and BTC China. Many of the players in this partnership deal with long/short loan trading and freely join their reserves via a trust agreement. The owners of these exchanges were unsatisfied with the meager income they earn from transaction fees, so they came up with a solution. During this current Chinese National holiday til the 8th of october, all banks are closed, this would be the perfect time to unleash the plan to the market..
They noticed that everytime favorable news came out, huge market moves would happen, so, the exchange owners would create counterfeit fiat on each exchange in order to foster optimism about the future market for the buyers on the exchange. Whenever the markets were to go bad, they would to do the opposite. In order to amplify downwards movement on the exchanges, “war bots” were created that push the markets down in an aggressive manner, causing margin calls and generating profit for their trading partners.
Employing traders with large fractional reserves, OHCC uses these fictitious funds in order to garner more real money deposits via leading recharge code sellers. In order to prevent the loss of the counterfeited currency, collusion between exchange owners must be done at the same moment. BTCChina decided that due to losses of funds in the past caused by bad encryption and bugs in the system, they needed to partner together and now think that the best hope to regain funds is to bring the price down to zero, in order to buy as much coin as possible and refill said reserves. Their counterparties in other exchanges agreed that they will aso use the same means, in order to collude and gain profits on their own reserve accounts. It is made to look that everyone is competing on the surface, but in private there is a mutual understanding within the industry that those who remain silent will receive the benefits of silence.
Yesterday's Litecoin crash, combined between all the exchanges had turnovers as high as 20 million coins moved, way more than the sum of all the transactions made within the past week and the day before the transaction currency trading market volume closed at 35 million LTC, while the total LTC in circulation is only 31 million! This means that regardless of how much money you have to buy the dips, many will be put into the bottomless black hole.
Public reserve is intended to ensure that the exchanges cannot fake these funds and ensure that that each is at 100 percent reserve, which is to have a completely open Bitcoin wallet address for both the cold and hot wallet, to ensure that they do not create counterfeited currency.
Not open exchange reserves
Yes, the above story is happening around us. Many players excessive dependence on trading platform, the coins stored in the platform, and trading platform does not fulfill its obligations disclosed reserves. Caused a trading platform for profit making counterfeit money to manipulate the market and malicious trick users into real money.
So, how should users involved in this market protect themselves?
1) Do not store in Bitcoin and other platforms! If you're long-term bullish market, then Bitcoin, and Litecoin should be stored in their wallet. Some platforms will be committed borrowing interest, do not because of the platform for the petty and the coins and other bits on the platform, and finally you get the benefits far outweigh the losses!
You just put the coins and other bits emerged, the trading platform will mention now facing pressure. Such power can be reduced more or less of them false.
2) Use legal weapons to protect themselves, and urge the public to prepare gold trading platform. If you feel your rights have been infringed, the user should actively protect their legitimate rights and interests with legal weapons. False trading trading platform is an offense, the player must zero tolerance.
3) Vote with their feet, leaving no open exchange reserves, to publicly exchange reserves to deal. Now open reserve all transactions:
796 Futures has a open reserve for both hot and cold wallet as well as all member wallets
No public exchange reserves should be open as soon as possible to prepare gold proved reserves include the number of hosted prove cold wallet address and user renminbi. You must ensure that the trader is not real money in exchange for false then the exchange of digital databases.
The method proved reserves See: proof-of-solvency
Ending OHCC Exchange
The largest Bitcoin exchange MTGOX previously collapsed with bankruptcy and no funds for partners seem to be recoverable. With their collapse the crazy behavior of the Willy bot still vivid in our memories. So what will be the final outcome of OHCC exchange? Will OHCC Exchange will become the second MTGOX? To be honest, the editors do not know the fate of the players involved, as it is in their own hands.
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Why Satoshi's temporary anti-spam measure isn'ttemporary | Raystonn . | Jul 29 2015

Raystonn . on Jul 29 2015:
Eric, any plans to correct your article at
From: Mike Hearn via bitcoin-dev
Sent: Wednesday, July 29, 2015 4:15 AM
To: Eric Lombrozo
Cc: Bitcoin Dev
Subject: Re: [bitcoin-dev] Why Satoshi's temporary anti-spam measure isn'ttemporary
Irrelevant what term was used - and as brilliant as Satoshi might have been at some things, he obviously got this one wrong.
I don't think it's obvious. You may disagree, but don't pretend any of this stuff is obvious.
Consider this: the highest Bitcoin tx fees can possibly go is perhaps a little higher than what our competition charges. Too much higher than that, and people will just say, you know what .... I'll make a bank transfer. It's cheaper and not much slower, sometimes no slower at all.
And now consider that in many parts of the world bank transfers are free.
They aren't actually free, of course, but they appear to be free because the infrastructure for doing them is cross subsidised by the fees on other products and services, or hidden in the prices of goods sold.
So that's a market reality Bitcoin has to handle. It's already more expensive than the competition sometimes, but luckily not much more, and anyway Bitcoin has some features those other systems lack (and vice versa). So it can still be competitive.
But your extremely vague notion of a "fee market" neglects to consider that it already exists, and it's not a market of "Bitcoin users buying space in Bitcoin blocks". It's "users paying to move money".
You can argue with this sort of economic logic if you like, but don't claim this stuff is obvious.
Nobody threatened to start mining huge blocks given how relatively inexpensive it was to mine back then?
Not that I recall. It wasn't a response to any actual event, I think, but rather a growing realisation that the code was full of DoS attacks.
Guess what? SPV wallets are still not particularly widespread…and those that are out there are notoriously terrible at detecting network forks and making sure they are on the right one.
The most popular mobile wallet (measured by installs) on Android is SPV. It has between 500,000 and 1 million installs, whilst Coinbase has not yet crossed the 500,000 mark. One of the most popular wallets on iOS is SPV. If we had SPV wallets with better user interfaces on desktops, they'd be more popular there too (perhaps MultiBit HD can recapture some lost ground).
So I would argue that they are in fact very widespread.
Likewise, they are not "notoriously terrible" at detecting chain forks. That's a spurious idea that you and Patrick have been pushing lately, but they detect them and follow reorgs across them according to the SPV algorithm, which is based on most work done. This is exactly what they are designed to do.
Contrast this with other lightweight wallets which either don't examine the block chain or implement the algorithm incorrectly, and I fail to see how this can be described as "notoriously terrible".
I understand that initially it was desirable that transactions be free…but surely even Satoshi understood this couldn’t be perpetually self-sustaining…and that the ability to bid for inclusion in blocks would eventually become a crucial component of the network. Or were fees just added for decoration?
Fees were added as a way to get money to miners in a fair and decentralised way.
Attaching fees directly to all transactions is certainly one way to use that, but it's not the only way. As noted above, our competitors prefer a combination of price-hiding and cross subsidisation. Both of these can be implemented with tx fees, but not necessarily by trying to artificially limit supply, which is economically nonsensical.
We’re already more than six years into this. When were these mechanisms going to be developed and tested? After 10 years? 20? Perhaps after 1024 years?(
Maybe when there is a need? I already discussed this topic of need here:
Right. Turns out the ledger structure is terrible for constructing the kinds of proofs that are most important to validators - i.e. whether an output exists, what its script and amounts are, whether it’s been spent, etc…
Validators don't require proofs. That's why they are validators.
I think you're trying to say the block chain doesn't provide the kinds of proofs that are most important to lightweight wallets. But I would disagree. Even with UTXO commitments, there can still be double spends out there in the networks memory pools you are unaware of. Merely being presented with a correctly signed transaction doesn't tell you a whole lot ..... if you wait for a block, you get the same level of proof regardless of whether there are UTXO commitments or not. If you don't then you still have to have some trust in your peers that you are seeing an accurate and full view of network traffic.
So whilst there are ways to make the protocol incrementally better, when you work through the use cases for these sorts of data structures and ask "how will this impact the user experience", the primary candidates so far don't seem to make much difference.
Remote attestation from secure hardware would make a big difference though. Then you could get rid of the waiting times entirely because you know the sending wallet won't double spend.
Yes, let’s wait until things are about to break before even beginning to address the issue…because we can “easily create” anything we haven’t invented yet at the last minute.
bitcoinj already has a micropayment channel implementation in it. There's a bit of work required to glue everything together, but it's not a massive project to start using this to pay nodes for their services.
But it's not needed right now: serving these clients is so darn cheap. And there is plenty of room for optimising things still further!
I’m one of the very few developers in this space that has actually tried hard to make your BIP37 work. Amongst the desktop wallets listed on, there are only two that have always supported SPV (or at least I think MultiBit has always supported it, perhaps I’m wrong). One is MultiBit, the other one is mine. I give you credit for your work…perhaps you could be generous enough to extend me some credit too?
MultiBit has always supported it. I apologise for implying you have not built a wallet. I think yours is mSIGNA, right? Did it used to be called something else? I recognise the website design but must admit, I have not heard of mSIGNA before.
Regardless, as a fellow implementor, I would appreciate it more if you designed and implemented upgrades, rather than just trashing the work done so far as "notoriously terrible", Satoshi as "not a systems architect" and so on.
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Help out a mature student with some Bitcoin!

Hello generous donors!
I am 32, after enjoying good employment for a number of years as an engineer, I have been unemployed for the past year and half (thanks to the Oil & Gas downturn).
Meanwhile, I took this opportunity to prepare for a career change and add new skills to my resume.
I took the GMAT and scored in top 4% in the world. I applied to top business schools and got into one of the top 15 schools in the world!
However, since I am in an over-represented category, I was not able to secure a scholarship. I did apply for a student loan and managed to secure one for $75 K. This loan combined with my personal savings barely covers my tuition and I need more for accommodation and living expenses.
I have been following crypto currency and blockchain technology since 2013. I did invest in some bitcoin but lost the coins (google multibit password issue)
I am building my skills in blockchain technology and hope to get employed in this sector post my education.
Any help would be much appreciated and I promise to use my education for the betterment of blockchain world!
here is my bitcoin address: 1CGBK3TaiRXvgXtjkvEM2eHCWNMKQ1JnPW
submitted by browneagle2085 to bitcoinbegging [link] [comments]

How To Use Bitcoin Multi-Signature with CoPay KeepKey - Setting up your Bitcoin Hardware Wallet for the First Time How to get a Bitcoin Wallet Address - FREE & in under a ... How to Buy Bitcoins Lost my Bitcoin in cyberspace! Help! Multibit

Bitcoin private key finder An example helps illustrate the problems that private keys solve. Likewise, importing private keys into changes the behavior of that wallet with respect to. Bitcoin private key finder software That way others can gain from your CLI wisdom and you from theirs too. These are the hashes of the There are a lot of benefits of using Bitcoin, so there are various types of wallet available; listed below are few. Online Bitcoin wallets: This type of wallet can be gathered from any device on the web through the internet. Bitcoin hardware wallets: This wallet physical devices and is designed to secure bitcoins. Software wallets: Wallet applications that can be downloaded to user’s phone ... Checking your Bitcoin address at for private key leak is safe for you, because this information is available and it cannot perform any problems. And if your private key is secure, we can monitor and notify you about any leaks by email. Our database has more than 2 million rows of potential leaked addresses, collected according to the rules below: Couple of thousands ... What is a Bitcoin Wallet? A Bitcoin wallet is simply a vault where Bitcoins can be stored. The vault could either be in form of a software or hardware. Technically, it should be understood that Bitcoins are not actually stored in the vault, but there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the person who owns the balance. Cracking bitcoin wallets: Multibit HD and Electrum. • Password exploits and a restore wallet exploit. • Offline brute force password attempts on Multibit HD and Electrum. Abstract. Bitcoin is increasingly popular, which is partly evidenced by the significant increase in its value in recent years. This increase in popularity and value has led to malicious actors stealing, or attempting to ...

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How To Use Bitcoin Multi-Signature with CoPay

In this video, I talk about a much asked question, which wallet should I get the multibit or the bitcoin core version? Well my friend in this video I will explain just that and cover ... MultiBit HD Electrum CoPay Armory Green Address Xapo Bitgo Bread Wallet AirBitz wallet Ledger wallet KeepKey CoolWallet Paxful CoinKite Poloniex Bittrex C-CEX Cryptopia Payeer Cryptopay ... Today I check out how to use a multi signature wallet via the CoPay platform. Tip Address: 1CwYp77iDHy2XFoV1LLEeJA3t8ynF5ZzAd Bitpay Wallet Tutorial: https:/... made with ezvid, free download at The next thing you need is to get an address. In the Multibit application, click Request. A new address is generated for you. Copy that in the clipboard. Think of it as a bank account: give it a ...