Ep.4 Irish Scams, Oxymonsters, and North Korean Crypto Thieves

Hello Bitcoiners!

In this episode of the unhashed podcast: Are the tonsorial arts highly correlated to illicit online drug dealing, and if so, should the government HODL when they act on it? Bullet proofs are live on Monero…and did slushpool shoot themselves in the foot by exposing that Bitmain’s S9 was capable of overt asic boost? Find out the answers to these and other questions in this weeks episode of the unhashed podcast. See you on the other side.

Weekly News Wrap Up:

  1. OxyMonster forfeits 120 BTC and 121 BCH

    1. Government now in position to play the market

    2. What should they do?

  2. Bulletproofs LIVE on Monero 

  3. Dragons Den host and irish presidential candidates likeness used to perpetuate scam

    1. Duffy’s image and name feature in a fake article

    2. The piece details an Irish digital currency startup. It goes on to say that the firm has just “landed the biggest investment ever made in Dragon’s Den history.” The story goes that two Dublin-based university students appeared on the popular business and investing television show. The firm they were pitching was called “Bitcoin Revolution” – a supposedly automated service allowing customers to profit from arbitrage opportunities presented by the volatile markets.

  4. Bitcoin price now less volatile than Amazon

    1. according to an educational analyst at the first U.S. derivatives exchange to list bitcoin futures, BTC has lately experienced less price volatility than some of Wall Street’s most popular stocks, including tech heavyweights like Amazon, Netflix, and chipmaking giant Nvidia.

    2. CBOE Options Institute senior instructor Kevin Davitt stated that bitcoin’s 20-day historical volatility (the rate of change in its daily price) has dropped to 31.5 percent.

    3. “A one standard deviation move for bitcoin at present is about $475. That works out to +/- 7.3% (475/6500). Compare that to earlier this year (mid-January) when bitcoin was around $11,000. Back then the standard deviation measured $4640 or +/- 42%,” wrote Kevin Davitt, a senior instructor at The Options Institute at Cboe.

  5. Bitmain Releases Patch to Let Bitcoin Miners Activate ‘Overt AsicBoost’

    1. Bitmain released the patch just days after braiins, the software development group that operates Slush Pool, revealed that it had verified that Bitmain’s Antminer S9 hardware is capable of supporting overt AsicBoost, though the manufacturer had purposely disabled it by default. The group further stated that it would integrate overt AsicBoost support into a future firmware update for Braiins OS, the open-source ASIC mining system it launched in September.

    2. Covert vs overt

    3. Segwit makes covert more difficult

    4. Slush has now stated that upgraded to the latest S9 firmware is incompatible with Slushpool client.  Seems Slush might have shot themselves in the foot?

  6. New energy efficient samsung chips

    1. Samsung Foundry, has launched a new production process of its 7-nanometer Low Power Plus process node, which could reduce its energy consumption by up to 50 percent

    2. The new process, based on extreme ultraviolet (EUV) lithography technology, makes the new 7LPP chips more dense (area efficient) and energy efficient.

    3. In April, Samsung manufactured 10nm hardware for Halong Mining’s DragonMint T1.

    4. Could this mean Samsung will refrain from producing ASICs of their own, instead opting to supply existing asic companies with chips?

  7. North Korean sponsored attacks comprise 65% of total crypto stolen in 2017 and 2018, according to study by Group-IB.

    1. In 2017 and 2018 hackers’ interest in cryptocurrency exchanges ramped up with a total of 14 cryptocurrency exchanges having been attacked, suffering a total loss of $882 million. At least five attacks have been linked to the North Korean hackers from Lazarus state-sponsored group. Of the $882 million, $571 million is believed to have been the result of North Korea.

    2. Includes the $532 million NEM hack on Coincheck

    3. Group-IB further indicates that Initial Coin Offering (ICO) platforms are prime targets for hackers, revealing that 10 percent of total funds raised from token sales in 2017–2018 were stolen. A majority of illicit activity targeting ICOs was reportedly conducted through phishing methods, with Group-IB estimating that large phishing groups have the capacity to steal around $1 million a month.

    4. Group-IB suggests that mining pools could prove an easy target for 51 percent attacks by state-sponsored hackers. Attempts at such attacks, albeit with limited success, are said to already be on the rise.

  8. New York Bitcoin Hedge Fund Gelfman Blueprint, Inc. slapped with $2.5 fine for running ponzi

    1. The CFTC charged GBI for allegedly running a Ponzi scheme from 2014 to 2016, telling investors that it had developed a computer algorithm called “Jigsaw” which allowed for substantial returns through a commodity fund. In reality, the entire scheme was a fraud.

    2. James McDonald, the CFTC’s Director of Enforcement, said that “this case marks yet another victory for the Commission in the virtual currency enforcement arena. As this string of cases shows, the CFTC is determined to identify bad actors in these virtual currency markets and hold them accountable.”

ICO My God, They’re Serious


One final note:

Make sure you are storing your crypto on something secure like a Ledger and backing it up on something sturdy like a Billfodl. If you buy these items through the links above, we do take a cut of the profits but it also helps support the show - a win/win for all involved.

Colin aulds