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Showing 20 of 238 results by DrApricot
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Re: I want to buy cashless bitcoin ATM for $1,000
by
DrApricot
on 08/08/2017, 02:34:35 UTC
I want to install a bitcoin machine at my family pawn and gold shop.  


Would something like this work for you? https://youtu.be/7hOnqGc6IvE?
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 28/09/2016, 16:36:34 UTC
Nice result! Lawyer has spend over 10,000,000 YEN as his fees in "very hard" investigation, but hasn't investigated anything!

A great question is what they have been doing last 4 months as far as their result is 5-page report about nothing and new planned meeting (about nothing again I suppose) in 2017...

 Angry

Blowing more smoke! Yet, it's a good time now to question the legitimacy of this whole proceeding, and ask what better approach could have been taken? Why were the proposals from Sunlot, BitOcean, etc for restarting MtGox summarily dismissed by trustee Nobuaki Kobayashi in favour of liquidation? Is everyone completely satisfied with the way the investigation of this matter has been handled by Kraken, the Tokyo authorities, etc.? Where are the results, and do privacy concerns still out-weigh the need to release the addresses so that the disappeared bitcoins can be traced? It's been two and a half years now, but what will we be saying when it has been five?
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 16/09/2016, 21:44:50 UTC
what is your point on that?

 Seized and sold bitcoins are being "recovered" through drop and shop techniques on the market, pushing exchange rates down and grabbing BTC when possible.



https://www.reddit.com/r/Bitcoin/comments/4yl7do/mt_gox_might_have_been_insolvent_as_early_as_july/


What do you think the source of funds could be for this replacement (recovery) buying? Could it have come from exchanging the bitcoins purchased by Willy and Markus bots during the November, 2013 price spike for fiat? If so, that implies someone all this time must have been sitting on a rather large pile of fiat from those proceeds. I have seen in another forum speculation that these funds have been frozen by the Chinese government. This is really beginning to sound like the plotline for a Mr. Robot episode.
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Re: For sale "Machine"
by
DrApricot
on 16/09/2016, 16:46:39 UTC

I also don't know what Steve Woz has anything to do with Satoshi or Bitcoin. I don't think Steve is even into mining.
It's not totally out of character for Steve either. See https://www.reddit.com/r/technology/comments/xn46y/steve_wozniak_uses_a_fake_id_and_pads_of_2_bought/
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Re: For sale "Machine"
by
DrApricot
on 16/09/2016, 16:41:12 UTC

So you are basically saying that this is the machine that Satoshi used to mine bitcoins? or what?

Yessir, it sounds like he's saying that Satoshi used a BFL machine.   Cheesy

There's more to the story than that. Carlos said that he was approached by someone about three years ago who claimed  that he was SN. He never said it actually was him. It should be noted that this auction was ended early and his Twitter account was deleted--either voluntarily or involuntarily--cause unknown.
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 25/07/2016, 06:29:10 UTC
Doesnt Japan have alot of company fraud of some type.   Like the deal with the olympus scandal and Michael Woodford who was fired after he objected to the cover up and dodgy accounting basically.  he raised it publicly but little was done immediately as he was seen as causing the problem

Some people got a few years jail eventually, sums involved, lost were something like 600m $ I think

Quote
Woodford stated his concerns that, far from learning from the scandal, Japan's response was to become even more secretive and unsupportive of change in areas highlighted by the scandal.[88]
http://www.thedailybeast.com/articles/2013/11/27/japan-s-mega-banks-have-mega-yakuza-trouble.html Mizuho Bank--I may have heard of them before.
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 21/07/2016, 03:07:11 UTC
Nevertheless, the missing 650K BTC might might have been Satoshi's.

It's very unlikely that Satoshi would store any of his BTC on an exchange where he was not in control of the keys...
Common sense dictates that the person or group named Satoshi Nakamoto would never trust someone else with the means of moving his (their) stash, so does that not lead to a conclusion Mark Karpeles must be Satoshi, since he would of course trust himself?

Even Craig Wright or Dave Kleiman seem a lot more believable to me than Mark for a Satoshi role. The amount is virtually the same: 648,000 BTC declared missing from MtGox  vs. 650,000 BTC withdrawn from the Seychelles trust by Craig.

As mentioned in the LRB article http://www.lrb.co.uk/v38/n13/andrew-ohagan/the-satoshi-affair, Craig was planning to use these funds to pay for his "research and development stuff." It seems natural that an exchange like MtGox would be chosen to trade them all for fiat. Craig claims to have lost a "large wallet" when the exchange went down.

While it seems counter-intuitive since we were first told MtGox had a ginormous number of users, yet by May 25 of this year only 24,750 creditors had ever bothered to files claims: 9,863 of these were bitcoin-only claims, and 7,952 bitcoin claimants were subsequently approved by the trustee, yielding an average of 25.4 BTC per claimant.

The worldwide number of users, at least those of whom could pass muster with the trustee, is a far smaller one than early media accounts of the collapse led everyone to believe--amounting to merely a few thousand people instead of tens or hundreds of thousands.  Given this much smaller world of actual depositors who had funded accounts of any significance and verifiability, then is it too big of a stretch to believe that the missing 648,000 BTC may have belonged to a very small and select group or perhaps even to only one person?
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 20/07/2016, 16:42:21 UTC


even if he has to spend 10 years in prison, in 10 years he comes out a multi billionaire.

What I find really weird is that MAJOR parties are working on finding out what happenened, but still we don't get a good answer. Japanese Police, Kraken, Deloitte, Tohmatsu LLC, ReEx Accounting Firm. I mean come on WTF?
There is a rumour going around https://forum.bitcoin.com/bitcoin-discussion/mark-karpeles-former-mtgox-ceo-out-of-jail-t9322.html#p26459 that the Tokyo police tried to get Mark to sign a confession that he is Satoshi Nakamoto. Why would they ever think he is Satoshi unless they also believed the missing 650,000 BTC from MtGox were from Satoshi's early mining efforts and actually belong to him? Given this scenario, was it Mark (aka "Satoshi") who got hacked and not so much MtGox users? For the record, I don't think Mark could have been Satoshi. Nevertheless, the missing 650K BTC could have been Satoshi's.
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 17/07/2016, 05:36:15 UTC
So if that's the case, then the heavy-handed stuff obviously didn't work with Mark. Cut him a deal to reopen MtGox so everyone can get on with their business. He's smart enough to realize he can't steal everyone's coins and still get off completely scot-free. Let him keep 10% and have a get-out-of-jail-free card in exchange for giving up the rest of the stash. 10% should be plenty to keep Mark in frappuccinos and Tibanne in kitty treats for the rest of their lives.

Interesting thought; the real question here would be if you'd trust such a guy with your money / bitcoins ever again... I'd certainly prefer to burn them rather doing that. Grin
If he's as guilty as most people surmise and has an IQ above room temperature, which he does, then he'll simply take his 10% and run. Plastic surgery could compliment his new more svelte appearance so that he'll be able to enjoy his winnings in unchallenged obscurity. Purple or chartreuse highlights could help disguise Tibanne.
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 15/07/2016, 08:11:05 UTC
In other words, why make such a huge fuss about liquidating MTGOX. Nobody gives a second thought to liquidating the TBTF banks. We just keep using them and hoping for the best.

yup... no one ever came up with a good story of exactly what happened.  most likely Mark stole them all and it going to wait it out. 

even if he has to spend 10 years in prison, in 10 years he comes out a multi billionaire.
So if that's the case, then the heavy-handed stuff obviously didn't work with Mark. Cut him a deal to reopen MtGox so everyone can get on with their business. He's smart enough to realize he can't steal everyone's coins and still get off completely scot-free. Let him keep 10% and have a get-out-of-jail-free card in exchange for giving up the rest of the stash. 10% should be plenty to keep Mark in frappuccinos and Tibanne in kitty treats for the rest of their lives.
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 26/06/2016, 23:07:01 UTC
Blaming the disappearance of the MTGOX coins on an unknown hacker, or surmising that the private keys to the cold storage wallets have been lost or corrupted, or that some government has confiscated the coins without telling anyone about it stretches all credulity.

850,000 BTC supposed to be there
(minus)
202,000 BTC found in old format wallet
------------
648,000 BTC still missing

Using today's price in USD of approximately $625, the total value missing amounts to

648,000 * $625 equals    $405 million disappeard

Someone needs to provide a very good and believable explanation where these "missing funds" have gone.

After all of the investigation is said and done, and all this time that has past, it is unbelievable that those on the inside of this investigation don't already know exactly where the missing coins are; that is, if they ever existed in the first place. In case they never existed, then 202K is all that there ever were. That amount still yields 202,163 BTC (on hand) divided by 7,952 (approved claimants) which equals an average of 25.4 BTC per claimant that can be returned!

If some large bag holder has all the missing coins, and the trustee knows who it is, then maybe it would make sense to send whomsoever this person or entity may be an invoice, call this an account receivable or "asset", and simply open Mt. Gox back up. Sure it would be operating on a fractional reserve, but it would actually be more secure than most banks today since it would have a (202K / 850K) * 100 reserve ratio or 23.75% whereas most fiat banks like Citibank, Mizuho and Deutsche all operate on 10% or less reserve.

In other words, why make such a huge fuss about liquidating MTGOX. Nobody gives a second thought to liquidating the TBTF banks. We just keep using them and hoping for the best.
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 16/05/2016, 10:53:36 UTC
I'm sure this has been stated before, but the 'heist' of MtGox, if there in fact was one, was one of the five largest bank robberies in the world.

http://listverse.com/2009/12/01/10-largest-robberies-in-history/

And Bitcoin was just getting started.



Those are the questions, are they not? Was this ever a heist, as Mark once claimed, or was Mt. Gox acting more like a bank operating on a fractional reserve? If it was the latter, then who "borrowed" those coins--unless, of course, you are willing to say "nobody"? If so, then it had to have been a Ponzi scheme from the beginning.
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 23/08/2015, 20:54:41 UTC

Though it may be a bit of a stretch to say that Mark was in any way ever directly involved with them. He seems to imply that he was not in his SR timeline piece. Why do you think an unknown intern may have been part of any scheme? That's news to me.


He admitted he had been losing BTCs since sometime in 2011 from MtGox's hot wallet via the allegedly "Transaction Malleability".
Since WizSec's last report was published, the theory Mt. Gox's bitcoins were lost over a period of years beginning as early has 2011 has gained some traction. If so, it suggests your insider must have been active over a long period of time. From what I understand, there were only ever 30 people including contractors working there. If the insider was not Mark, then s/he should be easy to indentify. Who was this sneak?
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 22/08/2015, 21:44:30 UTC
So (not) sad to see Mark got re-arrested again. Japanese detention is not something I would wish on my worst enemy, but in Mark's case I think I can put those feelings aside.

So now he faces a total of 46 days of interrogation........I wonder how long he'll last...
I believe (and wrote it before here) he was not acting alone. Were the two rogue agents with him in this? An unknown intern? I'm sure he has plenty of stuff to say now that the "gag order" has no meaningful reason to exist.
Mark already maintained in his "Silk Road timeline" that the two alleged rogue agents were part of a conspiracy--or, so he says:
Quote
"based on the available documentation, it is also difficult to know precisely since when both have been conspiring. [emphasis added]" http://www.magicaltux.net/post/124057497654/silk-road-timeline

He was merely restating the obvious though, as the DoJ criminal complaint against Force and Bridges--unsealed last March--also revealed that the two had colluded together.

Though it may be a bit of a stretch to say that Mark was in any way ever directly involved with them. He seems to imply that he was not in his SR timeline piece. Why do you think an unknown intern may have been part of any scheme? That's news to me.

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Re: my theory about Mtgox fiasco
by
DrApricot
on 01/08/2015, 20:20:31 UTC
My theory about the Mtgox fiasco is this:

When he was forced to liquidate bitcoins he might had to sell more bitcoins than he had bought if liquidity was very low.  So the extra bitcoins had to be created from thin air which caused a btc fractional reserve. Same logic applies if he wanted to create a downtrend with a fiat fractional reserve as a consequence.

Maybe I am uninformed well or my knowledge about Mt Gox and its story are outdated but my memory tell me that there were a hacking tentative in this company which has stolen thousand of bitcoins.
Both the theories that Mt. Gox had been operating on a so called "fractional reserve" for some time [not genuinely possible since it never loaned bitcoins back out as a fractional reserve bank might do], or that it had suffered a major loss through hacking have been cast into serious doubt by the recent justification used by the Tokyo police in arresting Mark Karpeles:
Quote
"Police suspect Mark Karpeles padded his bitcoin outstanding balance by illegally manipulating his company's computer system.

His Tokyo-based company, MtGox, suddenly stopped all trading in February last year and filed for bankruptcy. Karpeles announced that 650-thousand bitcoins, worth more than eight billion yen at that time, had disappeared.

He claimed the exchange collapsed after hackers stole most of his clients' Bitcoins. But police say most of the bitcoins held by the company were sent to another account.

Police believe Karpeles knows what happened to the virtual money." [emphasis added]
See: http://www3.nhk.or.jp/nhkworld/english/news/20150801_05.html

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Re: MtGox
by
DrApricot
on 05/07/2015, 19:31:15 UTC
I guess when Bitcoins will be more than $100k, they might come and sell your coins to you as I personally feel they were not thieved but the exchange people themselves stole the coins.
The Tokyo police leak in January implied 99% of coins were lost through insider fraud, so you're probably not so far from wrong. The ongoing debate seems to revolve around whether the bitcoins were lost during the late 2011 to 2012 time frame or more recently. Those who favour the former hypothesis believe Mt. Gox only ever held a fraction of the bitcoins deposited there after that early period. They  succeeded in covering up their losses which originally had occurred either through theft or fraud.

Until the addresses of the Mt. Gox bitcoins are released by bankruptcy trustee, Nobuaki Kobayashi, so they can be traced on the blockchain then there can be little hope of knowing for certain exactly what happened. However, there is also a lot of cash missing in bank deposits. It appears that much of Mt. Gox's remaining cash when it collapsed was set aside to pay legal expenses of the bankruptcy proceeding.
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 02/07/2015, 16:34:25 UTC

It's all over the news; it seems no one is untouched by the charm of Bitcoin... Tongue
Seriously now, I first thought it was a "set up" story by the US Gov't. It seems to be backed up by serious data & evidence though. I wonder if SR has others in the bin apart from the known ones...

around 650K BTC?
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Re: MtGox withdrawal delays [Gathering]
by
DrApricot
on 13/06/2015, 17:11:25 UTC
This might be interesting:

Criminal Charges Against Agents Reveal Staggering Corruption in the Silk Road Investigation


Two of the law enforcement agents involved in the tangled multi-agency investigation into the Silk Road have been charged by the Department of Justice for stealing hundreds of thousands of dollars (at the very least) in bitcoin. The criminal complaint against former DEA agent Carl Mark Force IV and former Secret Service agent Shaun Bridges alleges money laundering, wire fraud, theft of government property, and more. But more shockingly, it tells the story of a sprawling case tainted by an unbelievable web of corruption. A state’s witness took the fall for an agent’s theft, thus becoming the target for a murder-for-hire—a murder that was then faked by the same agent. The Silk Road case was compromised again and again as Force and Bridges allegedly took every opportunity to embezzle and steal money. With so much bitcoin on their hands, the two had to coax various bitcoin and payments companies to help convert their ill-gotten gains to dollars. When companies resisted, investigations were launched, subpoenas were issued, and civil forfeitures were sought in retaliation.

http://www.forbes.com/sites/sarahjeong/2015/03/31/force-and-bridges/

oh god! This was predicted in a thread where it was announced that they had confiscated the coins. I cant seem to locate it now. If someone can locate it please post it here.

Somewhere along the line I myself argued that it was a strong hypothesis that Mt. Gox's main problems stemmed from actions promulgated by the U.S. govt.  I am sure I proposed it several times on this board (if not this thread), and I even offered to Mt. Gox that I would be happy to lend some assistance as a harmed party should they wish to pursue a racketeering charge or some such.

What I really didn't imagine was that part of the problems were that Federal agents had gone rouge and were stealing coins themselves!  Even my rather conspiratorial mind and strong mis-trust of my government to be honest actors was unable to assign any creadence to such a wild hypothesis.  But there it is.

Since I am, as I say, prone to entertain various hypothesis, and since I am aware of a major step-up of psychological operations by my govt lately, I will propose the possibility that this whole 'bad agents' thing is concocted to cover for certain other activities.  I'll reject that if these guys are wearing orange jumpsuits in a prison yard in a few years.  Of course everyone will have forgotten about everything by that time.

If you are right, and indicting the rouge agents represents some kind of limited hang out masking a deeper government operation, then how do explain the missing $27 million cash in bank deposits in addition to the bitcoins gone missing, as well as the bank shenanigans during the final days of Mt. Gox reported by mtgoxinvestigation.com? It seems overly simplistic to merely believe the USG pulled off this heist, although obviously rogue agents could have been involved at some level. Also,  what do you make of the Tokyo police leak in January that an insider was involved?
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Need $80K loan secured by heavy duty roll-off truck title
by
DrApricot
on 25/04/2015, 21:28:44 UTC
I am merely posting this for a seller who is willing to accept payment in bitcoins. I am not a party to the transaction, but am willing to assist both buyer and seller. (Seller is a friend).

Buyer owns a No. California trucking company and has decent credit. Seller also owns another trucking company in the same general part of the country.

Here is a link to the completed ebay auction for the truck that I also posted on behalf of the seller.
http://www.ebay.com/itm/-/161632245570?roken=cUgayN&soutkn=AZnsPW

I make no warranty or claims on behalf of either buyer or seller, but can put you in touch with the principals in the transaction. All terms are negotiable.

Please pm me if interested.

Thanks for reading!

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Re: Investigation: The missing MtGox bitcoins
by
DrApricot
on 22/04/2015, 05:28:42 UTC
Full article: http://blog.wizsec.jp/2015/04/the-missing-mtgox-bitcoins.html

Excerpts from the WizSec report:

Quote
A large amount of stolen MtGox bitcoins appear to have been sold off at MtGox and other exchange markets,
Quote
One recurring pattern eventually stood out: MtGox bitcoins would suddenly get sent to a new non-MtGox address, without any withdrawal log entry, often in fairly recognizable amounts of a few hundred BTC at a time. Shortly afterwards, these addresses in turn would get gathered up into bigger addresses holding a few thousand BTC. From there, the coins would get deposited in chunks of some hundred BTC at a time onto various bitcoin exchanges.

As its time period overlaps--late 2011 through early 2013--between the apparent theft of bitcoins observed by WizSec and the operation of Tibanne Limited HK, is there any link between the suspicious behaviour that they noticed and Tibanne? For example, could those transactions found by WizSec in the blockchain, identified as with Mt. Gox addresses, which failed to match any of the ones logged in the leaked database, merely be collateral ones made by some Tibanne special user that were never logged.

Tibanne Limited HK operated two special users--possibly as selling bots--who were entered in the leaked Mt. Gox database as "TIBANNE_LIMITED_HK" and "THK" (Different names at different times). These two users never purchased ANY bitcoins, and yet between August 2011 to the end of November 2013 sold almost 3 million bitcoins--between 6% and 30% of the daily trading volume (AVG=6.29%). Never a single trading fee was paid.

The activities of these two Tibanne special users are discussed in greater detail here:
http://7u83.cauwersin.com/2014-03-15-activities-of-these-tibanne-users-found-in-leaked-mt-gox-database

As to the reason why these users sold bitcoin, but never bought any, various ones have been speculated:
  • Selling off the proceeds from Silk Road
  • Tibanne operated a mining pool
  • Purchased on other exchanges
  • A bug in the Mt. Gox logging software
  • GoxCoins created out of thin air

Since Tibanne, parent company of Mt. Gox, had at least two special users who could sell bitcoins, but never had to purchase any, some of whose transactions may have gone unlogged, and never had to pay trading fees, then this company should first be excluded as a possible cause of those anomalous unlogged transactions identified by WizSec before reaching any conclusion about theft being involved or not.

Also, it should be recalled that in January, a leak attributed to a joint Japanese and American government investigation into the disappearance of the bitcoins pointed to fraud as the most likely reason the coins went missing. See: https://www.cryptocoinsnews.com/japanese-police-suspect-99-of-mt-gox-bitcoins-missing-due-to-fraud-not-transaction-malleability-hack/