Ep. 29 Prepare For The Delist-ening

In this episode of The Unhashed Podcast: A bitcoin treasure hunt! Can you bind back the pieces of the million dollar secret using Shamir’s Secret spell? Paxful beefs up KYC and AML with biometrics. What’s next? Gut biome analysis with a fecal sample? And...Bitcoin Satoshis Vision is finally getting the delisting it deserves, but is it for the right reason? Find out the answers to these and other questions in this week’s episode of The Unhashed Podcast.

TOPIC times:

0:03:48 Further Troubles for QuadrigaCX

0:07:26 Binance DEX Launch Upcoming

0:15:30 Binance Delists BSV

0:39:02 Paxful adds Biometric KYC/AML

0:48:35 Ledger Vault

0:54:13 Global Cryptography Treasure Hunt over Blockstream Satellite

0:57:30 Lightning Torch Comes to a Close

0:59:08 ICOMG - Trumpcoin

01:05:38 Lightning Round

Weekly News Wrap Up:

  1. Ernst and Young, the finance firm tasked with monitoring the Quadriga debacle have recommended that Quadriga file for bankruptcy following the firm’s creditor protection period under Canada’s CCA Act and have recommended that Gerald Cotten’s assets be placed under a preservation order. Meanwhile, the report states that Jennifer Robertson, Cotten’s new wife who has been acting as the director of the exchange along with her step-father during the court proceedings, “would prefer not to continue acting as...director...” And all of this on the heels of news that Stewart McKelvey, the Exchange’s acting legal counsel, is stepping down from the case, though McKelvey’s firm continues to represent Robertson and the exchange while they search for new representation.

  2. On April 3. Binance tweeted that its upcoming decentralized exchange service, Binance DEX, is scheduled to have its mainnet launch this month. This service, as described in a company press release, is Binance’s attempt to create what Zhao called “a decentralized exchange with a decentralized network of nodes, where you hold your own private keys and manage your own wallet.” The feature runs using Binance Chain, a blockchain developed by the company and its community members, with Binance coin being the native asset.

  3. From the blog post: “Binance Chain has near-instant transaction finality, with one-second block times. This is faster than other blockchains today...With the core Binance Chain technology, Binance DEX can handle the same trading volume as Binance.com is handling today. This solves the issues many other decentralized exchanges face with speed and power.”

  4. In other Binance news, the exchange has officially announced its removal of Bitcoin SV (BSV) from its trading options, according to a company blog post. The delisting comes after Binance CEO Changpeng Zhao (aka CZ) threatened to delist the Bitcoin Cash fork coin in response to Craig S. Wright, the coin’s creator, threatening Lightning Torch prometheus Hodlonaut with a lawsuit. And...a mere few hours later, ShapeShift CEO Erik Voorhees tweeted that his exchange “stands with Binance and CZ’s sentiments,” adding that it will delist Bitcoin SV from ShapeShift within 48 hours. Then Kraken’s official Twitter account tweeted a poll asking users if they believe Bitcoin SV should be removed from the exchange (as of this reading, 73% said it should be delisted, and another 20% said they don’t care one way or the other). Concurrently, Tyler Winklevoss cheekily tweeted that Gemini never listed it in the first place. And latest to jump on board the ban-train, blockchain.com wallet has also delisted SV. SV hodlers have until the end of the week to finish their trades on Binance before trading stops. They will have an undetermined amount of time longer to withdraw their coins thereafter.

  5. Paxful Introduces an AI-Powered, Biometric Verification to Improve KYC and AML by teaming up with Teaming up with digital identity and address verification company Jumio. Speaking to Bitcoin Magazine, Ray Youssef, co-founder and CEO of Paxful, said that the platform was already emphasizing account verification as a way to prevent fraud. “Prior to implementing Jumio, we had a zero-tolerance system for scammers, fraud and any other illicit financial crime...We required all customers to verify their accounts through email and phone verification.” But with the aid of Jumio, the platform will be capable of improving its KYC and AML procedures and compliance program in every operating country through a biometric facial recognition feature provided by Jumio.

  6. Famed french hardware wallet manufacturer Ledger just announced a partnership with Hong Kong based asset management firm Legacy Trust in creating Ledger Vault, a custodial solution for institutional firms to store crypto assets. “We want to be the technology provider for the folks who want self-custody, [to] have their own keys and be their own bank, but we also want to provide it to the larger institutions that want to provide a service into the marketplace,” Demetrios Skalkotos, global head of Ledger Vault, told Bitcoin Magazine. The Ledger Vault bills itself as the world’s first institutional-grade, multi-authorization wallet management tool.

  7. Ready Player One! A treasure hunt for $1 million worth of bitcoin is officially underway. In a cryptic, rambling message broadcasted to the Blockstream Satellite on April 13, 2019, an anonymous user challenged the rest of the Bitcoin community to a million dollar hunt for what they called “Satoshi’s Treasure,” a contest which will “test the resolve, courage, intelligence, and savvy [sic] of would-be hunters,” the game master claimed. At the current exchange rate, the contest’s award is roughly 198 BTC. “This message should reach you at the middle of the fourth month of your calendar year, in the year 2019,” the message read. “If you are reading this, something has led you to search for things which bring excitement to an otherwise predictable world.” The game master fractured the final million dollar Bitcoin prize into one thousand pieces, using the “splitting magic of the wizard Shamir.” Treasure hunters must find 400 of these pieces and use Shamir’s “spell of recombination” to seize the hoard of digital gold.

  8. The Lightning Torch, a Lightning Network payment that has been forwarded to bitcoiners around the world via Twitter, has run its course and reached its end in the charitable hands of Bitcoin Venezuela - a timely and satisfying end given the recent treatment the torch’s creator has gone through this week.  

ICO My God They’re Serious:


Shout Outs:

Colin: Robokiller app

Ruben: my tweets on transaction fees

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