We simulate the trading strategy described
above on a third of total data in the duration of May
6, 2014 to June 24, 2014 in a causal manner to see how
well our strategy does. What a remarkable coincidence to have picked a range of dates where even random trades would've likely been profitable.  |
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This thread is not a serious thread about any sort of protocol recommendation, frankly what they're describing is so misguided and ridiculous, it's not even "wrong".
The OP is a wire fraud criminal who fled Romania for the UK in the mid/early-2000's to avoid prosecution, and is currently running a scam with the Black Arrow Prospero line of pre-ordered miners to the tune of several million dollars of customer funds.
Black Arrow did not actually cash out any customer payments made upwards of a year ago until mysteriously finally moving them from the original payment addresses exactly when this thread was created, which indicates that this entire thread is merely a cover for embezzling the entirety of their customer's payments that were performed in bitcoin.
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In the latest hilarious turn of events -- http://ecointalk.net/topic/392-black-arrow-weekly-production-update/?p=20381We're planning to take Apluspower to court as they have developed this PSU on our money and time and instead of replacing our PSUs they replace Bitmain's. What a weird coincidence, we're planning to take Black Arrow to court as they have developed this ASIC line with our money and time and instead of servicing their customers, they mine themselves and sit on our money. |
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... 2 Hosting of devices, we provide hosting without charges expect for power cost, that are deducted from Bitcoin earned, you will receive rest of the BTC. Once power cost exceeds the produced BTC, we keep the miner ion our datacenter and ownership are transffered to Black Arrow. Shipping fee will also be used to cover power cost. Current estimated cost of power is 0.6 RMB per 1 TH an hour. (power cost are subject to adjustment as we still calculate exact cost) ...
They must be proud of themselves for thinking up that bullshit They seem to be willing to do and say just about anything, as long as it involves them not actually providing a product or service, and simply slowly paying you back a small fraction of the bitcoins you paid which they never cashed out. |
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What would happen if the blocksize were increased to 1 GB tomorrow? Pretty much nothing. Miners will always be able to create blocks less than the maximum blocksize.
What would happen if the blocksize were decreased to 1 KB tomorrow? Bitcoin would come grinding to a halt.
Too small blocksize = death to bitcoin.
Too big blocksize = non-issue.
I'd rather see the blocksize too big than too small.
IBLT makes it an issue because there would no longer be a risk/reward tradeoff on tx fees vs propagation delay in building the largest possible blocks. As a result the miner is incentivized to always build the largest possible block to collect maximum tx fees with no propagation risk. |
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So the coins people paid have finally been moved from the original wallet it seems. I find it very hard to believe they were stolen and that this is instead just a cover story to claim they don't have the coins anymore, but in reality, secretly control them.
This apparently is the first hop on their embezzlement scheme https://blockchain.info/address/1MFJ9d1zq1zLpWu59r5cvYo9vgpeRZMKuw |
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Looks like what comes around goes around: What makes you say that these coins are stolen? What makes you say that these coins are stolen?
We've chased our stolen coins here. The thread this comes from is one of the most insane things I've ever read. Wire fraud confidence criminal Alexdru Ion Sovu is now giving his genius innovative advice to the core devs by starting a bitcointalk thread about something people have been talking about for years! This guy really might be legitimately mentally ill. |
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So, we would like to propose this feature to be added to Bitcoin protocol:
A "Time Lock" command for Bitcoin addresses. Are you aware that Bitcoin addresses do not exist on the blockchain or in the protocol? And that "addresses" are not spent, "outputs" are. And that transactions don't have timestamps? And that the timestamp on a block is unreliable as an indication of current real-world calendar time? And that the change you are proposing would require so much modification to the way the protocol works that it would likely destroy the consensus system and the fungible nature of bitcoins? Are you aware that 10% of the bitcoins in circulation are currently stolen? Are we going to do anything about it? One obvious first step is suing the hell out of you for stealing millions of dollars from your mining customers. |
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i'm gonna be declaring a hell of a capital loss this year.
ONLY if you sell..... ARE YOU SELLING? i cant do this "marked market" BS accounting i've heard about ? "Mark-to-market" or some shit its all very confusing Maybe I do NOT understand either, but I thought that any capital gains or losses, only matter once they are realized, and that is once they are sold? I am NOT sure whether market to market would matter, and if you are engaging in trades? Or if you move them around would probably NOT matter. I would only count if I actually cashed out, which trading on an exchange could make matters more complicated, I suppose. Mark-to-market works differently, you realize gain or loss as if the property were sold on the last of the year. |
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Somebody check Satoshi's wallets!  Not Satoshi's, more like Hal Finney's. Everybody is missing the obvious. The coins being sold are Hal's. He was the first to receive coins from Satoshi. He probably had 500,000 maybe more. He started cashing in June 1. His family is still cashing in coins but it will end soon. The Finney family is the mythical bearwhale?! |
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So interesting development, Black Arrow went ahead and put every single batch 1 Rent-a-Minion customer that they're waiting for bitcoin address details from on the "to:" line of an email!
They inadvertently gave us a very valuable list of people possibly predisposed to legal action, having not immediately rolled over and accepted their bait-and-switch ghash.io mining share scam.
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These sort of people would never dare post in such an area, because the opposition to their tired unsophisticated "critiques" would get completely decimated and ignored by people with any kind of subject matter expertise.
And it is exactly this sort of reply by "bitcoin experts" (the kind who claim that paying with BitPay or Coinbase is "paying with bitcoin") that keeps most people away from bitcoin. trololololol! |
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ok you've got my intention there, this suggest that you have most of the issues figured out, how do you think we will solve:
1-The Block size limit when the number of transaction/minute is 100 times higher than today.
2-The block chain size when it exceeds 200GB or 1TB ? most users or services will have to use clusters of storage, if the adoption rate picks up this has to be fixed really fast.
3-The energy waste, it has been known that when the price goes up mining becomes more profitable and more resources are brought online...resources that most of us consider wasted, as of today the hashrate is more that 250 Petahash/s, assuming that the worst chip on the network consume 0.5w/ghs (which is way too optimistic) this means that at this point miners consume way more than 125 hourly Megawatts... just FYI a typical nuclear plant produce from 500-2000 hourly Megawatts.
4-DDOS attacks: when Bitcoin become bigger, there will be Big services that run the Bitcoind in order to offer their services, organized groups can run denial of service attacks against these services, you can read more about how they can do it in that wiki I provided before.
5-Malleability issue, and don't tell me it is not an issue, because it really is, and it is not fixed yet, they just found some work around it.
6-Double Spending, even if you don't have 51% of the network you can perform double spending with as little as 25% of the network,
7- The 51% attack, we all know what it is, it is achievable, any government can achieve it if they want to kill Bitcoin, even at this point.
8-man in the middle or packet sniffing, also described in that wiki.
There many more issues, but these are the one that concerns me for now. now I would like to hear your solutions.
Two more: 9- The average wait time for 1 confirmation is about 10 minutes; and, in a significant fraction of cases, can be 30 minutes or more. That is too much even for internet payments, and is unacceptable for shopping at brick-and-mortar stores. (In contrast, verification and payment with a chip-enabled credit card, which is the standard here in Brazil, takes less than 1 minute.) 10- There is no way to correct mistakes (like sending bitcoins to the wrong address) or to recover stolen coins. There is also the question of security against theft, but I am tired of arguing the obvious there... If you really care about the answer to questions such as these, you should probably ask in the 'Development & Technical Discussion Forum'. The people in there can answer your questions handily, and very few of them read this thread, I think. These sort of people would never dare post in such an area, because the opposition to their tired unsophisticated "critiques" would get completely decimated and ignored by people with any kind of subject matter expertise. |
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So,
BA killed my account on the BA forums. Not surprised really, just wondered why it took so long. can't be bothered now to log back in on a different IP as im dealing with the lawyers in HK who now have the banking details and the office details for BA in HK. We also have the delivery originating address as well, i think they aren't that smart to send out from a different address so that's where the HK side of things will start.
Firstly a letter is going out from the Lawyers demanding money refunds
Secondly and im sure they won't respond to the letter, lawyers will launch a debt recovery action on them according the Chinese law.
Thirdly, and this is the part I've asked for video evidence.... when the bailiffs roll up to their address, i will post to YouTube for everyone to see what is being audited and catalogued.
This should be interesting as they can't for sure know what each device is worth, what the components are worth and finally what each ready or partially built system is worth, so i would imagine they will impound the lot and then audit based on market value for disposal ( maybe a chance to re buy back all the stock at a knock down price? )
Anyway, stay tuned for the next thrilling instalment of BTCA ship down !
How would people who have sent you their information interact with this situation? |
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The Rent-a-Minion service is now officially a ridiculous scam.
If you purchased batch 1, you receive what looks like a weird phishing email from them, asking for your order #, how much you purchased, etc.
It's pretty clear this is just a way to get rid of people asking for refunds by "mining" their own coins back to them.
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blockchain.info's wallet is not a web wallet
its runs in the browser yes, but its all client side JS.
Where is the private key stored? encrypted somewhere on my computer. They have the private key encrypted and they transmit it to you to decrypt locally in client side JS. This is how they're able to send you encrypted backup wallet files via email and such. |
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Is it me, or has BA been suspiciously quiet lately? Also their mod'ed thread doesn't seem to be actively monitored anymore. No replies on support (nothing new there), no updates, no shills.
Almost seems that they already packed up shop and left the sinking ship.
They've done this exact thing several times in the past already. |
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As a lucky rent-a-minion customer, I also received this today (I did mess with the spacing):
Dear Customer,
We received an update from the Hosting Team:
Please be advised that currently we are finishing the last
preparations in our data center, such as setting up power
lines and testing the hashing hardware.
Once this are complete we will be able to launch this
services.
Please take note that will not have 100% coverage of orders for
hashing; Crrently have around 100 TH/S but we will keep adding
devices to cover all of the orders, which is around 300 TH/S.
Of course we will starting with the queue on Early orders
1st. Further announcements will be made soon.
If you were not yet able to share your BTC payment address,
and/or should you have questions, kindly do so using
our ticketing system and contact our support.
Sincerely,
Black Arrow Team
Well gee, wasn't that done in May? That's what they said, I seem to remember. This is total crap, the Rent-a-Minion service was sold under the specification that the user could connect it to public pools of their chosing, which included a Black Arrow pool (and even alt SHA256 coin pools). Simply sending them a payment address is not the service that customers paid for. |
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P.S.: Alex Sovu in a chinese prison - now that's a TV show I'd watch.
Sadly I wouldn't be surprised if he's never even been to China, unless he has some good fake papers for this "Alex Berk" alias, because I would imagine it isn't exactly a good idea for someone in his position to be crossing borders all willy-nilly. |
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