Regulation – Jupiter Broadcasting https://www.jupiterbroadcasting.com Open Source Entertainment, on Demand. Wed, 26 Feb 2020 02:59:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.5.3 https://original.jupiterbroadcasting.net/wp-content/uploads/2019/04/cropped-favicon-32x32.png Regulation – Jupiter Broadcasting https://www.jupiterbroadcasting.com 32 32 Shrimps have SSHells | LINUX Unplugged 342 https://original.jupiterbroadcasting.net/139757/shrimps-have-sshells-linux-unplugged/ Tue, 25 Feb 2020 19:00:00 +0000 https://original.jupiterbroadcasting.net/?p=139757 Show Notes: linuxunplugged.com/342

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Show Notes: linuxunplugged.com/342

The post Shrimps have SSHells | LINUX Unplugged 342 first appeared on Jupiter Broadcasting.

]]> US vs Bitcoin Revolution | Plan B 19 https://original.jupiterbroadcasting.net/41582/us-vs-bitcoin-revolution-plan-b-19/ Tue, 13 Aug 2013 16:05:39 +0000 https://original.jupiterbroadcasting.net/?p=41582 An organized effort is underway at multiple levels of the US government to investigate, understand, regulate and potentially domesticate Bitcoin.

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An organized effort is underway at multiple levels of the US government to investigate, understand, regulate and potentially domesticate Bitcoin. We dig through the details and ponder the future.

Plus the ASIC challenge, the Electrum server outage, and a PSA for Android users.

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Every Important Person In Bitcoin Just Got Subpoenaed By New York\’s Financial Regulator

An official told the Associated Press that 22 subpoenas have been issued in all, seeking information on such topics as what measures Bitcoin companies may have taken to prevent money laundering, and what kind of consumer protections might be available for Bitcoin investors.

\”If virtual currencies remain a virtual Wild West for narcotraffickers and other criminals, that would not only threaten our country\’s national security, but also the very existence of the virtual currency industry as a legitimate business enterprise,\” Benjamin Lawsky, who heads the New York Department of Financial Services, said in a memo accompanying the subpoenas on Monday.

The New York State Department of Financial Services is stepping into the sheriff\’s boots.

\”We believe that — for a number of reasons — putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual currency industry,\” said NYSDFS superintendent Benjamin Lawsky in a statement.

List of companies subpoenaed by the New York State Department of Financial Services

  • BitInstant
  • BitPay
  • Coinabul
  • Coinbase Inc.
  • CoinLab
  • Coinsetter
  • Dwolla
  • eCoin Cashier
  • Payward, Inc.
  • TrustCash Holdings Inc.
  • ZipZap
  • Butterfly Labs
  • Andreesen Horowitz
  • Bitcoin Opportunity Fund
  • Boost VC Bitcoin Fund
  • Founders Fund
  • Google Ventures
  • Lightspeed Venture Partners
  • Tribeca Venture Partners
  • Tropos Funds
  • Union Square Ventures
  • Winklevoss Capital Management

Congress appropriations bill directs FBI to launch a federal investigation of Bitcoin as potential means for criminal, terrorist or other illegal activities

A Senate committee is pressing federal regulators and law enforcement officials to explain how they plan to oversee Bitcoin and other virtual currencies as the issue gains increasing attention from government officials concerned about the role these new markets will play in the future.

The Senate Homeland Security and Government Affairs Committee on Monday sent letters to several agencies requesting that they disclose their virtual currency policies, how they developed them, how agencies are coordinating and finally what they plan to do going forward.

  • From the bill (page 45):

Money laundering.–The Committee understands that Bitcoins and other forms of peer-to-peer digital currency are a potential means for criminal, terrorist or other illegal organizations and individuals to illegally launder and transfer money. News reports indicate that Bitcoins may have been used to help finance the flight and activity of fugitives. The Committee directs the FBI, in consultation with the Department and other Federal partners, to provide a briefing no later 120 days after the enactment of this Act on the nature and scale of the risk posed by such ersatz currency, both in financing illegal enterprises and in undermining financial institutions. The briefing should describe the FBI efforts in the context of a coordinated Federal response to this challenge, and identify staffing and other resources devoted to this effort.

The Journalistic Source Protection Defence Fund (JSPD) was set up on August 9 with the goal to provide legal as well as campaign aid to journalistic sources. Snowden, who is behind the biggest intelligence leak in the history of the US National Security Agency (NSA), has been selected the first such source.

Android Security Flaw Puts Bitcoin Wallets at Risk

SecureRandom is a Java class that generates cryptographically strong random numbers. In order to remain secure the random numbers used to generate private keys must be nondeterministic, meaning that the output of the generator cannot be predicted. Mike Hearn stated in an email to bitcoin developers regarding the Secure Random class on android, \”Android phones/tablets are weak and some signatures have been observed to have colliding R values, allowing the private key to be solved and money to be stolen.\” Bitcoin uses a random number in transaction signatures and if the same random number is reused the private key of the wallet can be determined.

Before the announcement was made, users on the bitcointalk.org forums had noticed over 55 BTC were stolen a few hours after the client improperly signed a transaction using the compromised random number generator. Users observed SecureRandom re-using the same random numbers for multiple transactions, thus compromising the private keys.

There are two types of mobile wallets, those where the private keys are generated locally on the phone, and those where private keys are held by a private company. Android wallet apps where keys are generated on the device include: Bitcoin Wallet, BitcoinSpinner, Mycellium Wallet, and Blockchain.info. Blockchain.info has already repaired the vulnerability, Bitcoin Wallet has an update in beta testing, and fixes for BitcoinSpinner and Mycellium are currently in development.

The announcement on bitcoin.org identified a three step process to secure existing addresses on all other apps:

  1. Generate a new address on a secure random number generator.
  2. Transfer all existing bitcoins to the new address. Do not send any bitcoins from this address using an Android device until the updates are implemented
  3. Notify any users of your old address of the change, so that the compromised address does not receive any more bitcoins.

Bitcoin Pick

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]]> Regulation Dooms Bitcoin? | Plan B 17 https://original.jupiterbroadcasting.net/40977/regulation-dooms-bitcoin-plan-b-17/ Tue, 30 Jul 2013 16:43:57 +0000 https://original.jupiterbroadcasting.net/?p=40977 Compliance is the buzzword of the season for Bitcoin, but on further reflection we have to ask - could regulation compliance weaken Bitcoin?

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Compliance is the buzzword of the season for Bitcoin, but on further reflection we have to ask – could regulation compliance weaken Bitcoin?

Plus the story of Thailand banning Bitcoin might be exaggerated, how deflation can help the middle class, and the Kickstarter upset of the week!

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  • Xanny comments on Bitcoin Must Comply

  • \”Deflation is a death spiral\” is a statist mantra. The US economy experienced slow but steady deflation during the 19th century – during rapid growth, yet they will never teach you that in school. A little deflation rewards savers and doesn\’t hurt anyone. Inflation rewards central banksters.

From adkantor on YouTube

If you ordered an Erupter at 1 BTC, all is not lost yet. A coupon program is being initiated by ASICMINER and distributed by BTC Guild. 30% of the units sold at 1 BTC will be eligible to purchase a 2nd unit for 0.10 BTC (+0.05 Shipping/Handling). The exact method of coupon distribution will be announced when coupon units arrive, which should be around August 5th.
If you have a backordered 1.05 BTC unit, you are GUARANTEED to receive the coupon(s) for additional unit(s) at 0.15 BTC.

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Did Thailand really ban Bitcoin?

A Thai Bitcoin exchange has suspended operations after failing to win a license from the country\’s central bank. However, the outfit\’s conclusion — that Bitcoin is illegal in Thailand — smells funny.

At the conclusion of the meeting senior members of the Foreign Exchange Administration and Policy Department advised that due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the following Bitcoin activities are illegal in Thailand:

  • Buying Bitcoins
  • Selling Bitcoins
  • Buying any goods or services in exchange for Bitcoins
  • Selling any goods or services for Bitcoins
  • Sending Bitcoins to anyone located outside of Thailand
  • Receiving Bitcoins from anyone located outside of Thailand

Based on such a broad and encompassing advisement, Bitcoin Co. Ltd. therefore has no choice but to suspend operations until such as time that the laws in Thailand are updated to account for the existance of Bitcoin.

Kickstarter pulls “Bitcoin: The Movie”

Andrew Wong, the entrepreneur behind the movie, launched the crowdfunding campaign on Kickstarter on July 16, and had scheduled the project to run until August 15, with a crowdfunding goal of $100,000. However, late last week, the crowdfunding site unexpectedly suspended the project. When Kickstarter pulled the plug, the movie had $15,896 pledged by 154 backers.

The Berlin district where virtual currency is as easy as cash

BERLIN — A sign above the counter of a popular bar in Berlin\’s hip Kreuzberg district warns customers of owner Joerg Platzer\’s somewhat peculiar payment preferences: \”I believe in honest money — gold, silver and Bitcoin.\”

Platzer\’s Room77 is among a cluster of more than two dozen local businesses to accept the virtual currency for everyday payments. Stickers with Bitcoin symbols on restaurant doors and shop windows guide the way.

Bitcoin activists propose hard fork to Bitcoin to keep it anonymous and regulation-free

Two anonymous activists have proposed an alternative to Bitcoin, which would fork the protocol to retain more anonymity for users. Labelled \”Bitcoin 2″, the currency would modify the existing bitcoin code to maintain what they call \”the original long-term vision\”, stripping out elements of the protocol that they feel are damaging, and building in support for anonymity protocol Zerocoin.

Bitcoin Pick

Currency — the bills and coins you carry in your wallet and in your bank account — is founded on marketing, on the belief that banks and governments are trustworthy. Now, Paul Kemp-Robertson walks us through a new generation of currency, supported by that same marketing … but on behalf of a private brand. From Nike Sweat Points to bottles of Tide (which are finding an unexpected use in illegal markets), meet the non-bank future of currencies.

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]]> Then They Fight You | Plan B 8 https://original.jupiterbroadcasting.net/37871/then-they-fight-you-plan-b-8/ Tue, 28 May 2013 15:46:04 +0000 https://original.jupiterbroadcasting.net/?p=37871 The funding methods around Bitcoin are under attack, and we chat with TheGenesisBlock.com’s managing editor about what this for Bitcoin, and more.

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The funding methods around Bitcoin are under attack, and we chat with TheGenesisBlock.com’s managing editor about what this means for the future of Bitcoin, and more.

Plus picking the right wallet for offline cold storage, a look at BitAngels the distributed Bitcoin angel fund, our concerns with Ripple, your emails, and much more!

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Although OKPAY themselves provided no rationale for their decision, OKPAY’s trust in the viability of bitcoin in their system may have been shaken after an OKPAY user reported on bitcointalk.org that they had successfully double-spent over 211 BTC to OKPAY and a seperate address controlled by the user during the block chain fork of 12 March 2013. The same user also reported that an approximately 65 BTC he had sent separately to OKPAY was not successfully credited to the appropriate account. Somewhat of a standoff ensued, but was resolved with OKPAY refunding the 65 BTC only after the customer returned the double-spent 211 BTC. OKPAY support staff confirmed the situation on a bitcointalk.org forum thread started by the double-spender.

We now have our first answer from FinTRAC. Generally, it views bitcoin exchanges as entities that do not have to register, identify clients, and report under the money services business rules.

Primer Interest Producer Bob English and Perianne traveled to the Bitcoin conference in San Jose, California over the weekend. They got a chance to speak to many of the movers and shakers in the up and coming crypto-currency realm. Bob interviewed Chris Larsen, CEO and co-founder of OpenCoin, which is developing Ripple.

BitAngels is launching (what it believes to be) the first multi-city angel network and incubator created to invest exclusively in cryptocurrency startups. Fittingly, in the spirit of Bitcoin, it\’s a distributed network of angels and entrepreneurs and one that was hacked together in a few days after the Bitcoin 2013 Conference.

BitAngels brings together a posse of angel investors who are looking to help entrepreneurs turn their Bitcoin side projects into full-time jobs. To do that, the angel network pooled together about $6.7 million in Bitcoin, which it will invest in approximately $20K chunks.

BitAngels is not a formal fund, so the Bitcoins are soft-circled, not in escrow, but all 60 angels that have joined thus far (the number of angels has almost doubled in the past week) are all accredited investors with extensive experience investing and, naturally, have a lot of Bitcoin.

Trace Mayer on Prime Interest May 24, 2013.

— Greg Managing Editor of The Genesis Block.COM —

  • DHS Inquiry Leads to Lowest USD/Bitcoin Trading Volume In Months
    > Bitcoin trading volume has plummeted since news broke that the Department of Homeland Security issued a seizure warrant that stopped all activity between Dwolla and the Mt. Gox exchange. As of today, the 5-Day moving average of USD trading volume is at the lowest level in at least a year and a half (the data is a bit spotty beyond that), other than the last week in December 2012.

In addition to total market volume declining, Mt. Gox is losing footing as the dominant player in the space. As of May 17, Gox was doing roughly 81% of total USD bitcoin volume. Today they did just 59%.

Yesterday we wrote about the low volatility after Mt. Gox\’s accounts were seized. The following graph from that article illustrates how we haven\’t seen volatility this low on Mt. Gox since December of 2012.

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