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Is Karatbit and Karatbars a scam?

On Tuesday 16th July, just a few weeks ago I was invited to attend a Karatbit, Karatbars/Karatbank presentation. The presentation was touting everything including a blockchain mobile phone. Someone had approached me over the weekend to investigate an investment, they had made with Karatbit/Karatbars. I attended the presentation with some research which, to be honest, was not that favourable to the company but nevertheless still went with an open mind.
KaratBank, a Singapore-based financial organization, has propelled another digital currency that it claims is bound to real physical gold. Is this a progressive thought – or a trick?
KaratBank, an organization located in Singapore, has quite recently declared the dispatch of KaratBank Coins (KBC), another digital currency it said is attached to gold. Be that as it may, not just the cost of gold, as different monetary forms — to real bits of gold: they're embedded in plastic cards or banknotes. In any event, that is the way it appears upon first sight.
KaratBank is a sister company of KaratBars International, located in Germany. KaratBars really sells gold in exceptionally small quantities (like 0.1g to 1g bullions), inserted into plastic cards (Karatbars) or money like notes (CashGold). The notes are famously overpriced: back when 1 gram of gold was $40, the 1g CashGold note cost $65.
As per KaratBank whitepaper, 10,000 KBC can be traded for 0.1g CashGold notes.
The initial coin offering kicked off earlier this year and proceeded until March 21, with the ICO starting March 22 (1 KBC = $0.05), Coin Telegraph reports.
Be that as it may, KaratBars International as an organization is emphatically connected with scams. A basic search for KaratBars on Google returns three connections with the word "scam" in them on the first page. KaratBars was prohibited in Canada in 2014 over an Autorité des marchés agents (AMF) with a Scam warning.
The Canadian government found that KaratBars executes some kind of multi-layered marketing (MLM), or "pyramid" scheme organisation that urged individuals to get new recruits and profit from their sales, promising a return of $15,000 to $136,000 every month.
In any case, Is KaratBank is a different story? All things considered, yes and no. Upon a more intensive look at the organization's whitepaper, one finds the following:
"United States of America citizens, residents (tax or otherwise) or green card holders, as well as residents of Canada, the People's Republic of China or the Republic of Singapore, are not qualified to partake in the KaratBank ICO."
As indicated by the Behind MLM site, the explanation behind this may lie in the way that those nations have actualized strict regulation on ICOs, and KaratBank does not have any desire to have anything to do with them.
"ICOs are not unlawful in the US or Canada. In the US, however, ICOs are ordinarily viewed as securities and require registration with the [Securities and Exchange Commission]," the site reads. "Singapore hasn't prohibited ICOs however it is one of the nations KaratBars International works in through the shell companies KaratPay and KaratBars Singapore. Singapore regulators closing those organizations down would cripple KaratBars International. The board most likely figure it's best not to take any risks."
To work lawfully in any purview, KaratBars International would need to register itself with the proper securities regulator in that jurisdiction, which the organization appears to need to abstain from, raising doubts.
From one's point of view what is disheartening is that blockchain is a great new technology and companies like this seem to mix their existing business with cryptocurrencies. Knowing full well that the general public does not really understand cryptocurrencies, let alone blockchain or Distributed Ledger Technology (DLT). As a blockchain consultant, one feels obligated to pose some questions anyone thinking of getting involved should be asking.
At the presentation, I heard the presenters say “ Karatbars is giving its members the opportunity to buy gold in small quantities. They also encourage you to save in gold instead of paper money. This can easily be done by buying as little as 0.1 gram of gold or 1 gram - 2.5 gram or 5 grams.”
They said members can keep their gold in Karatbars' vault or ask them to send it to you. Cash gold is the most popular form of buying gold as the gold is embedded in a banknote. 24kt gold 99.9% pure makes it easier for anyone to accumulate wealth.
Karatbars is also involved in cryptocurrency and got their own coins, namely KBC and KCB coins. I'm going to get very deep into this, but the main thing to remember is that they say, “these coins are increasing in value and that it is backed by gold”. whereas and another Cryptocurrency is backed by nothing.
As a self-proclaimed proponent of blockchain and a graduate of Digital Forensics, I feel obligated to say a few words about this presentation on Karatbit or at least as a conscious citizen of this global world of technology users. Blockchain is a magnificent emerging technology that can be harnessed to do so many things. But most importantly it is a technology that provides one single source of truth. If groups are using this single source of truth technology to spread untruths, someone concerned must come out to say something. Blockchain is a technology that can put everyone on an even playing field but it seems very few understand it. The individuals with even the fleeting basic understanding can influence the general public perception of cryptocurrencies. This leads me to ask a great quote from a book called Richest Man in Babylon …. “if you want advice on investing in expensive jewels, why would you go to a butcher?”
The following is what the masses are being manipulated to attach their hopes and dreams. It is that “a further drop in the value of Bitcoin and other cryptocurrencies has recently left investors nursing heavy losses. Many proponents are holding out for a new breakout “if their digital assets can go mainstream.”
The most important part of that statement is “if their digital assets can go mainstream”. This made me ask some questions about Karatbit and this is what I came up with.
Something is fishy!! Can someone clarify the following?
Claim 1: Gold mine worth $900 million provides security.
Can’t find any official source as proof.
Reference: https://www.youtube.com/watch?v=TyKQIckXyIU
Claim 2: Backed by a gold mine in Africa
Can’t find any official source as proof.
Reference: https://www.youtube.com/watch?v=d5Q3ZvR4b04
Claim 3: Audit report by MM Revisors for a gold mine in Madagascar
Can’t find proof that MM Revisors exists. Not sure if this report was published by Karatbars Int (can’t find it on their official website), but this is being circulated by some investors as if it were.
Reference: https://karatbars-me.webnode.es/\_files/200000070-01d6002d18/audit.pdf
Claim 4: Karatcoin Bank is a fully licensed crypto bank and is situated in Miami
Can’t find proof that they are registered as a licensed financial institute in Miami, Florida.
Can’t find Karatcoin Bank as a registered corporation, but found Karat Coin Corp.
Reference: http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResults?inquiryType=EntityName&searchNameOrder=KARATBANK&searchTerm=Karatbank
Reference: https://www.youtube.com/watch?v=YXip2Fizz5U&t=152s
Claim 5: Not a pyramid scheme
Karatbit describes this as an affiliate program but clearly is a pyramid scheme at best, see links below;
Canada: https://www.newswire.ca/news-releases/karatbars-quebec-activities-covered-by-prohibition-orders-514201571.html
Namibia: https://economist.com.na/43874/extra/karatbars-international-is-a-scamsays-central-bank/
Netherlands: https://www.afm.nl/en/nieuws/2014/mei/waarschuwing-karatbars
Claim 6: 100KBC = 1g of Gold at $40 per gram (1 KBC = $0.40) (guaranteed)
Total supply = 12,000,000,000 KBC (can’t find figures of circulating, so using supply instead)
Total gold needed to cover buy back of all coins:
12,000,000,000 / 100 = 120 000 000g = 120 tons (South Africa as a whole produced 139.9 tons of Gold in 2017).
Total money needed to buy back all the coins:
120 000 000g x $40 = $4.8 Billion
Can’t find proof that they have 120 tons of gold in storage (or backed up by the mines as claimed) or that they are at least worth $4.8 Billion to buy the gold?
Taking a more conservative approach:
According to icobench.com, they raised $100 000 000 with their ICO from 60% of the total supply.
Let’s assume the 60% of 12,000,000,000 is in circulation. This equals to 7,200,000,000 KBC.
Total gold needed for the buyback of 7,200,000,000 KBC:
7,200,000,000 / 100 = 72 000 000g = 72 tons
Total money needed to buy back all coins:
72 000 000g x $40 = $2.88 Billion
Loss for buying back the KBC that were sold during the ICO:
$100,000,000 - $2,880,000,000 = - $2,780,000,000
A potential loss of $2,78 Billion!!! Or am I taking crazy pills?
Reference: https://www.youtube.com/watch?v=KgeHjhlMfn0
Reference: https://icobench.com/ico/karatgold-coin
Claim 7: This Forbes.com article gives credibility to the KBC coin
This article was written by a Contributor.
Reference: https://www.forbes.com/sites/joresablount/2019/05/31/10-blockchain-companies-to-watch-in-2019/#308b507e543f
There is no traditional editing of contributors’ copy, at least not prior to publishing. If a story gets hot or makes the homepage, a producer will “check it more carefully,” DVorkin said.
Reference: https://www.poynter.org/reporting-editing/2012/what-the-forbes-model-of-contributed-content-means-for-journalism/
“Blogging for Forbes requires being what is commonly referred to as a "self-starter."
So far, nobody has said, "Um, you can't do that," or, "Oh, my God, no!"
Reference: https://www.forbes.com/sites/susannahbreslin/2011/04/06/how-to-become-a-forbes-blogge#231bb9972862
“Warning over 'scammers paradise' as watchdog reveals victims lost £27m to bitcoin, cryptocurrency and forex frauds last year”
• Some 1,850 cases were reported to Action Fraud, a 250% increase on 2017-18
• Victims lost an average of £14,600 - with fewer than 1 in 20 getting money back
• Investors are often initially told they've made a profit
• They are then encouraged to put in more money - at which point the fraudsters run off with their cash
Potential victims have been warned over bogus online 'get rich quick' schemes as it emerged people lost more than £27million to cryptocurrency and foreign exchange scams last year.
Fraudsters promise high returns to those who invest, according to Action Fraud and the Financial Conduct Authority.
Victims lost an average of £14,600 in 2018-19 and stand little chance of getting their money back.
Reports of cryptocurrency and forex investment scams increased by nearly 250 per cent in 2017-18, from 530 to nearly 1,850.
The scams work by criminals promoting get-rich-quick online trading platforms through social media. Posts often use fake celebrity endorsements and images of luxury items like expensive watches and cars.
Beat the scammers:
These then link to professional-looking websites where consumers are persuaded to invest.
Often investors are led to believe their first investment has successfully returned a profit, and are then enticed to invest more money or introduce friends in return for greater profits.
But the returns stop, the customer account is closed, and the scammer disappears with no further contact.
'Anyone handing over their hard-earned cash should make sure they understand what they're getting into, they've checked it's a legitimate investment, and not rely on hype and excitement from friends or social media.
'Investing isn't a get-rich-quick scheme - and anything that uses fear of missing out or requires you to invest before thinking is best to be avoided.'
Those considering an investment to check the following for tips on how to avoid investment fraud at www.fca.org.uk/scamsmart.
Scammers can be very convincing so always do your own research into any firm you are considering investing with, to make sure that they are the real deal.
'It's vital that people carry out the necessary checks to ensure that an investment they're considering is legitimate.
UK consumers are being increasingly targeted by crypto asset-related investment scams.
Certain crypto assets, like Bitcoin and Ether (also known as cryptocurrencies), are not regulated in the UK. This means that buying, selling or transferring these crypto-assets falls outside FCA remit. The same is true for the operation of a cryptocurrency exchange.
However, some types of crypto-asset products may be or may involve regulated investments depending on their nature and how they are structured. For example, firms that sell regulated investments with an underlying crypto asset element may need to be authorised by the FCA to do so.
In recent months, the FCA claims it has received an increasing number of reports about crypto-asset investment scams. Some of them may involve regulated activities, others don’t, but all use similar tactics.
How crypto-asset investment scams work
Cryptoasset fraudsters tend to advertise on social media – often using the images of celebrities or well-known individuals to promote cryptocurrency investments. In this case, laughably they said KaratBit was endorsed by Barak Obama’s sister. Who is she and what does she know about cryptocurrencies and blockchain? The ads then link to professional-looking websites. Consumers are then persuaded to make investments with the firm using cryptocurrencies or traditional currencies.
The firms operating the scams are usually based outside the UK but will claim to have a UK presence, often a prestigious City of London address.
Scam firms can manipulate software to distort prices and investment returns. They may scam people into buying the non-existent crypto asset. They are also known to suddenly close consumers’ online accounts and refuse to transfer the funds to them or ask for more money before the funds can be transferred.
Action Fraud has also issued a warning on cryptocurrency scams.
How to protect yourself
Be wary of adverts online and on social media promising high returns on investments in a crypto asset or crypto asset-related products.
Most firms advertising and selling investments in crypto-assets are not authorised by the FCA. This means that if you invest in certain crypto assets you will not have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme if things go wrong.
The FCA doesn’t regulate crypto assets like Bitcoin or Ether which are vastly the most recognized cryptocurrencies, let alone KBC, they do regulate certain crypto-asset derivatives (such as futures contracts, CFDs and options), as well as those crypto assets I would consider securities. A firm must be authorised by FCA to advertise or sell these products in the UK – check FCA Register to make sure the firm is authorised. You can also check the FCA Warning List of firms to avoid.
You should do further research on the product you are considering and the firm you are considering investing with. Check with Companies House to see if the firm is registered as a UK company and for directors' names. To see if others have posted any concerns, search online for the firm's name, directors' names and the product you are considering.
If you’ve already decided you want to invest in gold, this might not be a bad company to side with. But if you’re just looking for an opportunity to earn a sustainable income and become financially independent, there are better options out there.
submitted by fourfingaz to u/fourfingaz [link] [comments]

How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.

Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is:
I emailed them and then pasted it here so sorry if its a bit clumped together. Cant get the grasp of how reddit breaks up sentances 8-()
https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Ethereum Blog: https://blog.ethereum.org/
Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it.
There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below.
Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise)
Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well:
BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI
Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs
An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU
What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s
ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU
Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY
DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin
https://www.youtube.com/watch?v=gjwr-7PgpN8
2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s
Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s
DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo
Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU
How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s
The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc
Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s
Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s
2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins)
Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos
Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos
Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum)
The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls
ConsenSys Media - Arthur Falls https://soundcloud.com/consensys
Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/
Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65
Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/
Reddit:
https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily
https://www.reddit.com/ethtradenew/ price and trading discussions
Ethereum News commentators i watch:
Crypt0 https://www.youtube.com/useobham001/videos
Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos
Ethereum people to follow on twitter to get linked and fed important blockchain info:
@SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet)
To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases
Instructions:
How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s
How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s
How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8
Ethereum and other blockchain project prices http://coinmarketcap.com/
There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets
Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether
www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether )
www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support.
www.bittrex.com No Fiat but also lists some Ethereum Based tokens
www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support.
The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s.
You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s
The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it.
So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny.
Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q)
On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments.
Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest.
As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull
In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry.
What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount.
The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs.
The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere
Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD.
Greg Hunter https://www.youtube.com/useusawatchdog/videos
Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos
Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos
Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos
SGT Report https://www.youtube.com/useSGTbull07/videos
Stefan molyneux https://www.youtube.com/usestefbot/videos
X22 Report https://www.youtube.com/useX22Report/videos
Clif High https://www.youtube.com/results?search_query=clif+high
Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky
Health
Dr John Bergman https://www.youtube.com/usejohnbchiro/videos
Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos
Any questions just ask
submitted by TonyMcCarp to ethereum [link] [comments]

How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.

Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is:
https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Ethereum Blog: https://blog.ethereum.org/
Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it.
There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below.
Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise)
Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well:
BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI
Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs
An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU
What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s
ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU
Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY
DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin
https://www.youtube.com/watch?v=gjwr-7PgpN8
2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s
Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s
DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo
Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU
How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s
The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc
Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s
Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s
2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins)
Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos
Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos
Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum)
The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls
ConsenSys Media - Arthur Falls https://soundcloud.com/consensys
Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/
Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65
Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/
Reddit:
https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily
https://www.reddit.com/ethtradenew/ price and trading discussions
Ethereum News commentators i watch:
Crypt0 https://www.youtube.com/useobham001/videos
Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos
Ethereum people to follow on twitter to get linked and fed important blockchain info:
@SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet)
To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases
Instructions:
How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s
How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s
How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8
Ethereum and other blockchain project prices http://coinmarketcap.com/
There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets
Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether
www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether )
www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support.
www.bittrex.com No Fiat but also lists some Ethereum Based tokens
www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support.
The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s.
You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s
The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it.
So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny.
Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q)
On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments.
Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest.
As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull
In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry.
What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount.
The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs.
The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere
Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD.
Greg Hunter https://www.youtube.com/useusawatchdog/videos
Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos
Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos
Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos
SGT Report https://www.youtube.com/useSGTbull07/videos
Stefan molyneux https://www.youtube.com/usestefbot/videos
X22 Report https://www.youtube.com/useX22Report/videos
Clif High https://www.youtube.com/results?search_query=clif+high
Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky
Health
Dr John Bergman https://www.youtube.com/usejohnbchiro/videos
Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos
Any questions just ask
submitted by TonyMcCarp to Futurology [link] [comments]

Orocrypt: A Word from our CEO

One day in 2014, I was waiting for a friend at a cafe. My friend was late, so I started looking up bitcoin on my mobile phone. At that time, it was selling around $250. Although I really loved the idea and wanted to learn more about bitcoin and the blockchain, it seemed too volatile and I was worried about security. In fact, in February of that year Mt. Gox had been forced to close.
It occurred to me that if there was a way to reduce bitcoin’s volatility, I would like to invest in it. Furthermore, the concept of the blockchain, an encrypted, distributed and secure ledger , seemed absolutely fabulous.
But it was not until October 2015, when I began to realize the need for a less volatile cryptocurrency. A year later, another friend described how cumbersome it was to sell some her gold. It had to be stored in a vault and the conversion from Canadian dollars (the vault was in Canada) to Euros turned out to be very costly. She said that the price she obtained for the gold, the rate of exchange her bank used to convert the Canadian dollars, together with the bank transfer fees, cost her nearly 4% of the total amount it would have cost to replace the gold back into the vault. As a former banker, I considered 4% outrageous! So, I visited the gold-backed bitcoin concept again, but this time from a different angle; focusing on the ease and low cost of transfer.
I contacted two great guys through a bitcoin blog and together we started to look into how viable it would be to create a gold linked bitcoin using the colored coins protocol. By March 2016, we hit a roadblock with the problem of the complexity of transferring funds and how to collect storage fees. I remember asking a friend to receive and send back the colored coins that represented one ounce of gold. She said, “I am the wrong person to ask. I don't know a thing about bitcoin.” I replied, “You are the perfect person. The youth don’t really have a problem with it but, it is people like us, the less young, who should be able to do it. If you and I can do it, then anyone can.” Unfortunately, at that time, we didn’t have much success.
But I was not going to give up. In April 2016, I started looking into the Ethereum platform. It’s Smart Contracts feature fitted perfectly with the concept of issuing tokenized assets backed by precious metals. This is when the concept of Orocrypt was born. Orocrypt was conceived as an alternative proof-of ownership for precious metals. These precious metals such as gold , or silver would be represented via tokens and the tokens would be issued on the secure, encrypted and decentralised Ethereum blockchain.
The tokens were going to be compatible with all Ethereum wallets, could be easily traded instantly on major exchanges and the gold representing them could be physically redeemed from us anytime. The gold would be bought from reputable sources. On top of that, the gold would be stored in secure vaults around the world in Switzerland, Liechtenstein, Singapore, Australia and the Cayman Islands to prevent single storage failure and the vaults would also be audited monthly by renowned auditors such as the SGS in Switzerland and Liechtenstein.
Some of my friends expressed an interest in joining the venture and by February 2017, we formally agreed on the principles and committed the necessary funds to have the infrastructure that would allow us to buy and store precious metals, issue digitized tokens and raise the startup funds to make Orocrypt operational. We paid particular attention to the legal issues regarding equity crowd sales and Anti Money Laundering/Know Your Client procedures. Although there are few legal frameworks regarding token sales and legal claims on digital assets, we have done our best to anticipate and structure Orocrypt and its tokens to be as compliant as possible with current and future expected requirements.
We can say our efforts are geared to being a reliable player in the asset digitization eco-system. The opportunities are abundant and our team has the capacity not only to identify many of them, but to also implement them solidly and profitably. We envision a world in which anyone can buy, trade and exchange gold without a middleman on a secure, decentralized and encrypted platform. We believe that there is a need for non-volatile crypto asset and that together, we can achieve our vision in the long run. Thus, we bring you Orocrypt.
Sincerely Yours,
Alejandra de la Cerda de Gaustad,
Founder and CEO,
Orocrypt Inc.
LinkedIn
submitted by orocrypt to CryptoCurrency [link] [comments]

Hello friends. I have a question. What would you think about a Bitcoin bank with offline storage, underground?

To elaborate... I work at a cold-war nuclear fallout shelter located in Eastern Canada. This bunker was built by the government in the 1960's for regional government and military high-ups. Located in the bunker is an actual Royal Bank of Canada vault with a 1500lb door, ten inch thick solid concrete walls, complete with nuke proof cannon ball safe in a 5x5 concrete shell.
I am thinking of starting a Bitcoin bank here. However I need know what the Bitcoin community's thoughts are on this.
The goal is to allow Bitcoin traders to transfer coins safely amongst themselves through our bank, also allowing vaulted physical offline storage accounts in a high security underground facility.
submitted by canadianman001 to Bitcoin [link] [comments]

Want to buy precious metals with bitcoin? GoldMoney could be the answer. Let's convince them to accept virtual currency.

What inspires you to invest in bitcoin? The answer is likely the same as what drives individuals to invest in precious metals (e.g., gold, silver, platinum, palladium, etc.). Both allow the owner full control over their wealth without the fear of losing value to hyperinflation. www.GoldMoney.com, established in 2001, sells precious metals that are secured in vaults throughout the globe. They have storage facilities in the UK, Canada, Switzerland, Hong Kong, and Singapore. When you purchase metal from GoldMoney, you can register the physical bars or ingots to your holding account. You own the metal buy they take care of the security. Should you want to take possession of your goods, you are welcome to get the metal delivered, and at some vaults you can even pick it up in person.
Currently, GoldMoney allows its members to transfer nearly any currency to their corporate bank account. They then credit this fiat to your holding where you can purchase metal. Wouldn't it be great if they accepted virtual currencies? I just sent them a request to start accepting bitcoin. I imagine I'm not the first one to do this, but I thought I'd post this on bitcoin just in case anyone else here has a GoldMoney account and wants to be able to purchase metal with bitcoin. I for one would love the opportunity to convert some of my bitcoin wealth into gold. Let's convince GoldMoney to start accepting bitcoin in exchange for precious metals.
submitted by Enigmazr to Bitcoin [link] [comments]

04-02 12:02 - 'Bitgold Review - My Honest Experience' (self.Bitcoin) by /u/koko255 removed from /r/Bitcoin within 2-7min

'''
Hey guys,
Since a few years I have been reading more a more about the state of the global economy and the current debt. Also I have been surprised on the amount of volatility certain currencies have been suffering and the necessity to have some gold. I started watching some Gerald Celente videos on King World News and happened to see one about BitGold and got my attention so I decided to give you this quick review. This new service based out of Canada which allows physical gold to be used for payments and savings on an online platform. I approached with extreme caution because I know todays mantra with gold is that there are plenty of options that allow you to invest in gold such as an ETF ($GLD) but I am not sure it’s backed by “paper gold”, I have to admit I am a bit of extra cautious when buy these products.
The thought arose that this was the same type of vehicle, but I was pleased to learn that BitGold does not conduct in that manner; the gold I acquire through their platform is fully reserved segregated gold bullion in my name stored at a BRINKS vault, in other words BitGold has no access to my gold and can’t redistribute the metal I buy to other clients (not fractionally reserved), all the bullion I buy on the BitGold platform is 100% backed by physical gold.
Up until this point I have used traditional bullion outlets such as JM Bullion or Ebay, but the problem I always faced was the extensive premiums I had to pay on that gold (ranged from 5-15% over spot!) .
After learning about BitGold I decided to sign up and give it a try. After completing my signup I was impressed with the type of security precautions the company takes before granting user access. They follow very extensive anti money laundering and policy’s which asserts a level of creditability to all active users on their platform.
The first couple weeks on the platform, came to me as a bit of a shock. I am more familiar with buying gold and storing it at home in a safety deposit box as a insurance policy against economic turmoil because that was really the only option I had, the problem is that at the moment you want to sell that coin is a hassle to put it on Ebay, pay for the insurance, etc, and maybe at the moment you want to sell the price has changed a lot. Also, I couldn’t transact with it, send it cross boarders easily or save it in a storage facility for free. I viewed it as more of a collector’s item and a store of value in hopes over time it appreciates in value. It was more like a speculation for me, now I see it more like using dollars but the difference is that I am confident gold will rise in price.
On June 7, 2015 I made my first purchase of gold on the platform. It was very simple to be honest. All I had to do was click the “deposit” tab and set the amount of gold I wanted to buy and where I wanted my gold to be stored, the have a few I chose Zurich. In fact, that is my favorite feature on the platform as one of the main knocks on gold has been solved. Before, at traditional precious metal storage facilities it used to cost me between 3-5% per annum on my cumulative gold accumulation. BitGold charges no fees on the storage on my gold. The gold I acquire on the platform is only costing me 1% over the world wide spot price, In fact that is the only charge on the platform, the 1% in (buy) and 1% out (sell) fee. But the exciting thing is, once you acquire that gold it can actually become useful in everyday life.
One of the things that excited me the most about the platform, is that it enabled me to quickly liquidate a small portion of my gold holding with a MasterCard that’s attached to my platform. Again, it’s 1% and 1% out so every time I liquidate and start making purchases with my prepaid card it’s only that 1% processing fee of selling my gold. If you compare that to the amount you lose on regular bullion dealers bid and ask spread, this is actually extremely cheap. Before I had to liquidate in bulk fashion as I had to sell ounce by ounce (and not even at face value) but with BitGold, I can quickly liquidate five dollars of my total gold balance on to my GoldMoney card and go buy some lunch. In addition to placing a redemption on the MasterCard, I can always transfer value back to my local bank account as I just place a bank wire money (more so use the bank wire option when I sell over $1500 worth of gold). Currently I have GoldMoney MasterCard’s denominated in USD, but I think there are EUR and GBP cards.
Since I have been dollar cost averaging into the platform (buying gold) my local currency has declined, because I was accumulating gold my gain against my local currency was not really a gain, it was just me preserving my original efforts of accumulating because my CAD fiat dollars declined and Gold stayed flat. Don’t get me wrong, gold goes through peaks and troughs but the math shows it unequivocally gains purchasing power over fiat currencies over time. In fact
I also use BitGold as a remittance option where I actually send Gold from my account to another BitGold user’s account. The remittance feature of sending and receiving gold internally on the platform is free. With gold being universally priced; it takes the foreign out of exchange when sending cross borders. For example, my sister was out of the country and near the end of her trip she was running short of cash, she requested a payment from me on my platform and I quickly sent gold from my account to her account so she liquidate the amount I sent her, to withdraw cash in that country to begin making purchases.
So far I am very happy to finally find a platform that gives me the flexibility to be in control of my gold. This is what I was looking for. I recommend you to start reading about what is happening around the world regarding the economy, politics and currencies. At the end of the day is your hard-earned money!
Cheers!
'''
Bitgold Review - My Honest Experience
Go1dfish undelete link
unreddit undelete link
Author: koko255
submitted by removalbot to removalbot [link] [comments]

Canadian Digital Cash Platform MintChip Acquired by customer data-collector nanoPay

This is an automatic summary, original reduced by 63%.
MintChip, the world's first regulator-friendly digital cash platform developed by the Royal Canadian Mint, has been acquired by Toronto-based loyalty and merchant payment solutions provider nanoPay.
The Royal Canadian Mint, a government-owned corporation which produces all of Canada's circulation coins, as well as circulation coins on behalf of other nations, describes the platform as a government-backed "Digital cash" platform.
Users can first create a MintChip vault to store digital cash in offline storage.
Because the MintChip network handles the settlement of digital currency and fiat money on its own, without the existence of exchange platforms like Bitcoin, the nanoPay team plans to integrate the MintChip network on a traditional central bank-based fiat.
"Digital currency is inevitable and our newly-acquired MintChip™ platform delivers a digital cash future to consumers, businesses and governments today," said nanoPay Founder & CEO, Laurence Cooke.
"Digital cash will transform payments globally, from the unbanked to the largest financial institutions, and MintChip™ will help to easily transition to the reality of cashless payments."
Summary Source | FAQ | Theory | Feedback | Top five keywords: MintChip#1 digital#2 platform#3 nanoPay#4 cash#5
NOTICE: This thread is for discussing the submission topic only. Do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

Fighting mass surveillance effectively

Even with massive challenges to NSA activity, the US government will fight relentlessly against any efforts to expose the NSA, charge Clapper, or even reduce the current mass-surveillance activities. If you don't understand why the powers-that-be have this incentive, take a step back and look at what the NSA is offering to US leaders:
We're now in an information arms race. But unlike other historical analogies that might be cited, the scale of our storage and processing capabilities are immense and extremely powerful, and that changes the game. Simple private bits of our lives which we take for granted are now being stored indefinitely. Things like:
Whether it's a moment of indiscretion, or just an unfortunate circumstance is irrelevant. Imagine that information in the hands of:
The development of big-data dramatically shifts the playing field in favor of those who can access information which is unavailable to the rest of us.
Everyone has some expectation of privacy. But the ever increasing portion of our lives which is being recorded by corporations/Government means that these records can be used to our disadvantage, at any time, now or at anytime in the future.
The sustainable solution will require us to find policies which enable us to co-exist in this new world of big-data. But we need to hang on long enough for our rather dysfunctional social systems and governments to evolve adequately. For this, we need to buy time by holding on to at least some of our digital privacy.
Here are a few steps to make global surveillance more difficult.
Technical measures: - You may not be able to do all of these, but do what you can. You can change your browser home-page, right?
In selecting these packages, strong preference was given to Free-Open Source Software (FOSS) which enables source-code review over unverifiable closed source software (eg, Ghostery, DoNotTrackMe, etc.). None of these packages ensures anonymity or privacy, but by using them intelligently, you can seriously reduce your Internet tracks. If you have suggestions/feedback about related technologies, please post in /privacy so we can get some group insight.
If you have any problems installing or using the above software, please contact the projects. They need both users and feedback. And if you can, support these projects with your time or your cash to help make them sustainable. Even if you can't use all of them, use some of them, and help others to use them, too.
Have no clue what Cryptography is or why you should care? Checkout the Crypto Party Handbook or the EFF's Surveillance Self-Defense Project.
Just want some simple tips? Checkout EFF's Top 12 Ways to Protect Your Online Privacy.
Digital Rights Advocacy Groups: - These US based nonprofit, and nonpartisan groups are at the forefront of figuring out how to protect Digital Rights as fundamental Human Rights.
Education: - Are your colleagues telling you that they have nothing to hide?
Updated 12 Jun 2013; Much of this info is collected from Reddit threads, not my own info; If you like this comment, feel free to [copy/paste/share]().
Thanks for all the great responses. With your help, this info gets better each time it's posted.
submitted by DJxisX to restorethefourth [link] [comments]

[Table] IAmA: We Are a Team Working to Restore a Cold War Nuclear Bunker; The Only One of It's Type Left In Canada! AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-07-27
Link to submission (Has self-text)
Questions Answers
I went to visit the bunker last year. When I was there, I was informed that it would never again be fully operational and even if it was, it could not withstand the blast from even the smallest nuclear bomb. So my question is, is this true? Also, if it is true, why go through the trouble of making it functional if it cannot be used for anything other than tourism? I am not sure if you were here when we had control of it or not. Regardless, to answer your questions, the facility was never designed for a direct hit. It was designed for a near miss attack. This means that if a nuclear strike were to happen within 1 1/2 miles of the facility, it would survive with almost no damage inside.
As for full operations, we are already at over 80% functionality. Some of the functions necessary for fallout like radiation scrubbers for our air systems, are not a high priority at this stage of revitalization. However, we have gotten many systems back up and working we never thought would be working again. We are 100% confident this facility could become a fully functional fallout facility with just a little more work. Without any eminent threat of being nuked any time though, we are not fully focused on those items right now.
Would like to note that this facility does have EMP shielding that would withstand any solar radiation bursts. Which is a more likely scenario this facility will provide protection against.
Will it still be available for tourists? It was one of my favourite things from my Ottawa trip last year. Also, are you keeping all the vintage shenanigans that were there? Now that you mention Ottawa, I should note that this facility is another Diefenbunker, but the condition of it is very different. It's size is also smaller.
We are not likely going to allow continued tourist as some of our planned operations require security.
If by vintage shenanigans you mean like the control systems and boilers, and generators, the answer is yes and no. Some will be kept, and others will be updated. For example, we have plans to develop solar thermal solutions that will replace our boilers. Other systems that are still functional that we can interface with our new systems we will continue to work on. For example, we recently interfaced the old temperature sensors into a new digital display as shown in this youtube video: Link to www.youtube.com
To be fair, it could just be a fridge from the forties. Well we have some pretty big veggie and meat lockers in the kitchen. Feeding 350 people took a fair amount of food.
Who the hell would put debert nova Scotia on a nuke to do list? Is there a military base there? Debert became a military base back during WWII. It was the staging ground for final training for Canadian forces before they took off the take down the Nazis. Its geographic location made it central for the atlantic region, and its distance from a more likely target (Halifax boat yard) made it ideal. The base now has been decommissioned though.
Can I reserve my room for the war? I have large amounts of caps saved up and can offer you cooking skills. When caps become dollars sure.
Do the many systems include the Canadian nuclear arsenal ?...actually thinking about it why does Canada even have bunkers who would nuke canada? even if they survived they would probably say thank you...eh. Canada played a much more frontal role in past wars. We have not found a nuke button yet though. Canada's primary weapon of choice has been polite kindness I agree.
Oh man, I'm going to be in nova scotia in a few weeks. I would love to see this place.. but even though I'm going to be fairly close I don't think it's in the travel plans :( Nuts. August 17th 18th is the time to be here if you decide to change your mind.
We are not likely going to allow continued tourist as some of our planned operations require security. Data centre... The data center portion of the building is actually a building within the building. The Samson Node, as it was referred to, is a giant copper capsule basically which keeps all forms of EMP and radio signals from being able to penetrate it. At one time it handled NATO communications data. That space is small compared to the rest of the facility though, so we need to put the rest of the place to good use. Given the trends in server computing it will provide all the space and power we require.
Wouldn't solar heaters be effected by any change in the albedo? (nuclear winter scenario) Also, did you know n-acetylcysteine and many other antioxidants are radioprotective, Also, did you see the 2010 film "The Road" which features a bomb shelter scene? Likely they might. But until then they are going to do wonders for our operational costs. No, did not. Yes, I recall the bomb shelter scene, and this place is a whole lot bigger.
Are you going to preserve at least some of, for instance, the boilers even after you've replaced them? Absolutely. Many of them are just going to be more trouble than its worth to remove. We are not desperate for space in here, so keeping them won't be an issue.
As you can see, we have actually gone to a fair amount of effort to try and integrate the old systems into new ones that we can make more efficient while preserving the old analog look and feel of most of the controls. Our most recent triumph was with the fresh air dampener system. By controling a dial they now respond. You can see the youtube video here: Link to www.youtube.com
What's gonna happen on the 17th and 18th?? More public tours fundraising for the Debert Military Museum. You are welcome to them!
You said you won't care for the public later on but you want people to come and give you money now? Don't know how you equate that to not caring for the public. I don't get that either.
How much has it cost since you started? We are up to about 45,000 so far...
Bottlecaps? Or NCR Dollars? How about Bitcoin?
So you lose it all if the previous owner wins the lawsuit? Correct.
Nah Bitcoin won't work post-apo. The network would be down... Still be up here! Perhaps should keep all your bitcoins here.
Can you elaborate a bit on this please? All of the information surrounding this is at www.savethebunker.com. A bit of a long read, but elaborate definitely!
If you've got a Bitcoin client up and running and it stays current right up to the apocalypse... Then you could reboot the network to its last-known-good state, once the lights come back on. And anyone who had a surviving digital wallet or a paper wallet would be able to recover his/her money as though nothing had happened. The question is: who would be willing to use Bitcoin as money if an EMP knocks out most computers? Humm.. so wouldn't it make bitcoins a sort of commodity then that are rare? Humm.. those that have working computers might actually become like exchanges until people get their own computers.
In the case of currency, it is a bad thing to be rare. Bitcoins are not collectibles - without currency value, a digital bitcoin isn't worth the storage space at any cost of hardware. Fair enough, we go to bottlecaps. :)
Whats your favorite thing in your job? There are several of us on the team so I'll give you a few of our responses to this one.
Isaac: The history behind every door.
Justin (Electronics Tech): working with the vintage technology and power generating plant.
Colton: Being a part of the history of this place.
Isn't this the first line in every zombie movie ever? I umm.. errr umm.. well.. umm..
I visited this place on my grade 8 trip (7-8 years ago) and had a blast! (No pun intended) The tour guide had said that they used to store gold bars there. Is that true? They sure would have stored gold bars inside the bunker. There are two vaults, one on each floor. The larger one on the top floor is the Bank of Canada vault. The 1300lb steel doors for the vaults were actually removed and left to sit there while the bunker was being decommissioned. We have installed the Bank of Canada vault door back onto it's hinges, and it is operational again. There is a super small safe inside of the Bank of Canada vault that could have been used for gold - or plutonium (Considering it was super expensive back in the day). Sadly we do not have the combination to that safe, and there is no way to get it open; it was designed to directly withstand a nuclear blast.
I'll try and find a photo of the small safe tonight.
Can the County be sued for the costs related to their unwillingness to grant the deed as required by law? They are aware of the risk. All of the decisions are being dictated by county lawyers who advise the county. We are now facing more legal costs, and more court time than is necessary. How lawyers could advise to go to court and drag this out for months and get paid more in the process is really surprising. Oh wait, that makes perfect sense.
How lawyers could advise to go to court and drag this out for months. The legal strategy could be to simply wear you down until you can't afford it any more. A win by deeper pockets, rather than a legal victory in a court room. You could be right. After getting my first legal bill we are starting to consider fund raising options to fight the battle. Our next court date is October 17th. We are planning to do another update on save the bunker later today. Right now there are tours coming through the bunker.
consider fund raising options. While it's privately owned, the spirit here is not really one of pure capitalism. Just trying to do something that is worthy of a place like this.
Why would anyone fund your private business? You stated no tours and that you will be using it for data centers ect? Also as far as funding goes, there is always investors. Though the owner has not entered into any agreements with several parties who have expressed interest.
Just trying to do something that is worthy of a place like this. Like "data centers"? The data center portion only makes up a small part of the operations we plan here.
Every "operation" you listed is for profit and NOT related to fallout shelter, cold war, history ect. What exactly is the "worthy" part? As mentioned in another thread, not all plans are being publicly disclosed, and some cannot be discussed due to non-disclosures.
Though I don't know how much profit there is in renewable energy research.
I thought there was another Diefenbunker in Ottawa? I visited it in highschool and it seemed pretty cool, I thought it was also a cold war era nuclear shelter? Yep, the main Diefenbunker is in Ottawa. It is a four story bunker, almost double the size of the one we have down here. The biggest difference between the two, is that we were classified as only a provincial emergency government headquarters. And in that respect, it's the last running privately owned provincial shelter.
Yes, that was a head quarters bunker. Besides that one, there were six other regional operation centers (ROCs). We are the only one that is left. All others have be 'decommissioned' in one form or another.
Was there ever one out west, in BC or AB? I know Dief the Chief didn't spend much time out here. Yes there was. BC had one in Camp Nanaimo, and Albert had one out in Penhold. They were all pretty geographically diverse.
Is it cool down there? Yes, it tends to stay cool. Heating it takes extraordinary amounts of fuel from the boiler. However, it never goes below 48 degrees due to the geo-thermal effect of the structure.
Ha. I mean is it very interesting to be down there? I've always wanted to see a cold war bunker. Thanks anyway. The reality of Cold War sets in when you see all the preparation they put into trying to save lives if the nukes ever did launch.
Wait what? -48? Celcius? About 9 degrees Celsius. Cold but not frozen.
What's the most interesting thing you found down there? The blueprints have been fun, but we keep finding paper clippings and full papers from the 1960s that were interesting to read. Back then a paper cost 6 cents, and was a much thicker quality.
Do you ever feel that your employers may have a REASON other then superstition for buying an old nuclear war shelter? The owner seems pretty straight forward. Being a Baha'i, he seems to have a pretty positive outlook on the future. No idea what other REASON you might be referring to. Care to elaborate?
If Hollywood movies taught me anything, it's that people who buy cold war complexes are always some sort of supervillain. Did he ever ask you things like "hmm, do you think the power system could be modified to feed a 1 terawatt deathray?" Umm.. he did ask about fresnel lens. Should I be worried?
I know this might sound a little far fetched but I once heard that there was a fallout bunker somewhere in Alberta that the Hells Angels had been using for large grow operations, do you think this is true? Actually not far from what happened! Someone else posted a link to that story. Might be part of why we are the last ones standing. Guess nobody has anything to worry from a Baha'i in control of a bunker. :P.
When we are sure you are all in there, we will seal it up from the outside. We are a lot of things, but not hippies I assure you.
Is it dangerous? Is there possibly any radiation or any harmful materials in the bunker? It was designed as a fallout shelter, not as a nuke silo. So there are no dangerous radiation materials here other than some very small samples that were used to calibrate radiation sensors. Your microwave is more dangerous than those. Environment Canada did a test on air quality in here back in 2006 and they determined the air in here was actually more clean than outside. Fun fact, the bunker only requires 1% of outside air to remain breathable for its denizens inside.
Any problems you ran into right away? First problem was getting power going. Breakers require a 24v charge in order to hold supply. All the batteries in the place were dead. With the help of someone who used to work at the bunker when the military ran it we were able to get it up and running again. The moment power came on the first system to fire up was the compressor for the pneumatic systems and wow was it loud. We then had to turn our attention to that system right away because it had not been maintained properly.
What was up with the pneumatics? The pneumatic pressure from the compressor was completely off from where it needed to be according to the military helper. The compressor itself had about 2 gallons of water removed from its tanks. Once we got the proper pressure going all the sensors and readouts of the various controls started to work. Well, not all. Many had been disabled, mangled, or needing repair.
What about the Diefenbunker in Carp, Ontario? That's our brother from another mother.
But, you said that the one where you work is the only one of its type in Canada in the title. How is this one in Nova Scotia different from the one in Carp? This is a ROC, Carp is an HQ. This one is about half the size of Carp.
The one in Carp is a museum now. I live right near it, if you live around it too you should definitely check it out! We are planning a visit soon actually.
Is this part of the Dharma Initiative? Not that I am aware of. There might be an opportunity for it though.
Electrical engineer and cold war historian, here. First off, nice facility! Any chance you could post more pictures of the bunker's control monitoring switchboard (the one your standing behind in your picture)? I'm interested in comparing to what I've seen in US installations. Also, are you keeping those awesome GE switchboard meters or going digital? We like the analog of it all. We have more picture on our facebook page. We will have it all interface to a network eventually so that we can control systems from our Galaxy Tabs.
You should make a video detailing how you operate the bunker with modern software -- using tablets for that sort of stuff is definitely really interesting but I imagine if you're not careful with network access it could be really dangerous. Yes security is top priority.
I don't know if this has been asked, but what is the "frame" made of? How thick are the doors and walls? How do you deal with negative air pressure, or do you? Plumbing? Communications? Cellular signals? Source of outside water, purification? So many questions. 3 foot concrete covered in nearly 3 feet of earth. Building runs in a positive air pressure when handlers are operating. Currently two fiber links. Cellular dies after you come in. Dedicated well pumps in well houses provide all the water to the facility both domestic and cooling. Purification is done through a treatment process which we plan to update.
In the event of the apocalypse, can I take shelter with you? No you cannot. Security was mentioned earlier. However, opportunities for leasing space may come up. Interest in this is questionable though and we may not pursue it.
How many people can the bunker hold? The bunker was designed for 350 people to survive. Most would have been government, and some military. Sorry civilians and women, you lose! Yes, only women in the original plans for the bunker were the Premier and the Commanders secretaries. Remember this was the 60s.
Ha ha. You're marketing it TO the nut bars. Aware of that, just that once we get lumped in, there goes all possibilities of being taken seriously in every other sector.
You're already at risk of that with the current activities... Turning your hobby into a living is some people's idea of success! Haha.. I suppose. Running a bunker takes a lot of Benjamins.
Do you think that, in the event of a nuclear war, these bunkers would have done much help to the initial survivors in the long run? Yes. Eight years of engineering went into building this and other Diefenbunker facilities. These were designed for near miss scenarios. When fully operational with trained staff, this facility would have absolutely been able to operate for a sustained period of time in the event of fallout.
Were any of you alive during the Cold War and if so was it terrifying basically being trapped between the two superpowers? I mean in the event of a nuclear war essentially all their nukes would be flying over Canada airspace. No, all of us are younger than that. Though there are still many others who live around here who are ex-military who lived through it.
Ah you guys posted on Airsoft a few weeks ago. This will be an Airsoft site correct? Yes, we had a game a few weeks ago that was a hit. CQB Airsoft is one activity we have going on weekends here at present. It is only one of several things going on here. Thus why it is called a 'Complex'.
How much will it cost to visit? Right now for this weekend, we are having tours between 10AM and 2PM both today and tomorrow. Tours cost 15$, and are run by the Debert Military Museum (Link to www.facebook.com) We will be running airsoft games almost every weekend, with some incredible missle launch and bomb props that we are working on. Tickets for the airsoft games usually run around 25$. Come on down! (This may be the last time that tours are run here because of security issues.)
Tours are going on right now as a fund raiser for the Debert Military Museum. Tickets are $15 for adults, ages 4-12 half price, and under 4 free. Another tour happening tomorrow, and then another weekend in August 17 18th weekend.
Sorry if its a stupid question, I saw it on /airsoft that someone was restoring/using a bunker for an airsoft field? Is that you guys? I imagine bunkers aren't very common. Yes, that is us.
No way, I was just reading about this place last night! No way, I was just replying to another post about the movie that was done here! :)
I was wondering, how do you handle air quality? CFS Carp has an active system I think, but that's a bigger place. If you were to just leave everything off, would you run out of air? CFS Carp had a modern system installed, where we have all original. If you leave everything off, you can still breath, but then you start to get a lot of mold.
, did you get paid for the usage in that recent movie (forgot the title, something about nukes)? Either way, you should try to get some film makers as contacts in the future :) That low budget film was very low budget, and what we got out of it was mega small. We were just happy to help out, and maybe just maybe other better offers might come along.
Have you ever played Fallout? No, no time for games when we got a bunker to revitalize.
What would you consider airsoft then? Just asking... We run the games, we don't play them.
Could this also withstand a zombie apocalypse? Yes, it is built for biological fallout as well.
How does that facility compare to Cheyenne Mountain in Colorado Springs? This facility used to communicate with Cheyenne Mountain. Compare? Well, we got Maple Syrup.. case closed.
Why? Why not?
Serious question: what is the weird capitalization in the title? Why do it in the first place? Why isn't "a" and "of" capitalized but "in" is? The guy that started this already left. Wish I knew. I am going to call sleep deprivation. He had not slept in about 30 hours. We lose track of time in the bunker.
This is so incredibly interesting. I just looked through each photo on Facebook and every video on YouTube. I would love to be a part of that, you all are really fortunate. Question(s): Do you or have you slept at the bunker? Ghosts? What's the wierdest thing you've found in the netherbelly of the beast? Justin here, I just woke up from having a nap in the quarters we have set up. I , and some of the other volunteers, pulled an all nighter getting things ready for the tours today. I can't say there are any ghosts yet. But I do hear strange noises from time to time so its hard to say. As for the weirdest thing? A rather dark and eccentric artist used to stay here... so I'll give you the top three...
Are you saying that there was a ball pit in the bunker? And are you also saying that you removed said balls from the ball pit? Also, excellent work restoring all of that ancient equipment. That's a noteworthy accomplishment. Pat yourself on the back for me? Would not call it a pit. They choose to take the Lieutenant Commanders office and fill it with those balls along with the dead cafe. Then put a dramatic blue light on it.
Weird. The previous owners sound quite... I don't know... self-righteous? Maybe I'm garnering something different from your posts and videos, but there just seems to be a lot of neglect and lack of care, and it seems like it would stem from owners that are in the business for the wrong reason. We try not to talk the previous owner down, however the evidence does speak for itself.
In the Diefenbunker, we heard about a farmer out west who bought a bunker for $1 from the government and then was in talks to sell it to some bikers.. So the gvt bought it back (at more than a buck) and back-filled it with concrete. I thought the same fate happened to all remaining bunkers. How did the Debert bunker survive, and what is stopping your group from entertaining a future offer from a criminal enterprise? Only God knows how it survived. The owner is a Baha'i, he has no such interests. His God stops him from doing that I guess you could say.
Is it really worth saving something because it is one of a kind? Is there any real historical significance other than its a nuke bunker? Yes it is. Yes it is a direct link to the Cold War era. An era where humanity almost destroyed itself. A point in time where people built things like this out of fear of the future instead of hope.
Will you guys actually actually one day show us the inside of the massive water tank? I was rather sad hat we did not get to see the inside. We still have work to do on the sensor array in there and we do have to do maintenance, so yes, maybe one day.
Restoring cold war bunker. What do you know that we don't?!!?!?!?!? Perhaps that military build these things with overkill?
Who would they figure would hang out there in case Debert was bombed? And how is this diefenbunker different than, say the diefenbunker in Carp, Ontario? This Diefenbunker is a ROC, while CARP is a HQ. Otherwise they are identical except for the fact that this one is half the size.
There is a decommissioned diefenbunker in my town. I've been told they are a nightmare of asbestos was the reason they were shut down. Is the one you're working on any worse then your average 1960's building in terms of it or other hazards? That is not the reason they were shut down. Back in the 80s the DND undertook and extensive asbestos remediation program. In that, they eliminated all the dangerous asbestos, and left what was not hazardous. There are still fire-boards, and asbestos floor tiles as well as insulated pipes. We have plans to eventually remove them all, even though they pose no hazard, it is likely going to be necessary eventually with the changing standards.
I remember reading about the Diefenbunker when I did a report on Canada's involvement in the cold war in grade 12. is it classified as a heritage site these days? Carp is, but this facility did not qualify for historical protection due to lack of interest a number of years ago. Petition was attempted, but not enough love.
I'm 15 and from Ottawa, I never heard the whole story of the Diefenbunker. How does it go? If you google Diefenbunker you will find a lot. To make it simple though, Diefenbunkers are a series of bunkers that were commissioned by Prime Minster Diefenbaker back in the 1950s during the Cold War Missile Crises.
ARPANET Interesting question. No, there was never any ARPANET operations here. ARPANET never made its way here. It was quite popular in the US back in its day though.
I've been to the Bunker in Debert. It's really cool! Are banks still storing information there now that you guys are doing the full restoration, or have you guys gotten rid of the server hosting side of it? Banks were never storing information here. Sorry you were mislead. However, we are working on making it a functional data center that will be fully managed.
Weird, I could have sworn that they had active servers that were cooled by a water source? Maybe someone was messing with me. If by active you mean turned on so that pretty lights appear on server boxes, then yes there were. The node does have 3 very old chillers that do use water for a cooling source, however, they are not functional at present, nor have they been since the 90s. Servers were there, but as noted, no bank transactions were ever done in there. It is likely someone was messing with you.
Didn't some crazy old motherfucker own it for 2012? Since the current owner is not a crazy old motherfucker, we will have to say yes.
What is the average temperature inside the bunker? During the summer it usually stays around 65F. In the winter it goes no lower than 48F.
I was going to ask why if you're Canadian you keep saying your temps in Fahrenheit, but then I realized all of the instrumentation you'd be reading off would be pre-metric switch. Then I googled the conversion. 65F = 18.33C. 48F = 8.88C. Correct. :)
Any and all of your responses and official documents should be in metric, particularly if you want to be taken seriously as a Canadian heritage site and not confuse people. Skip the miles and oF. Note that the era this place was built in did not use the metric system. All of our gauges and readouts are in gallons and in Fahrenheit, so we are giving it to you like we get it. Sorry if our history offends your modern metric sensibility. We struggle with it here too. I would image most people who worked here could covert everything in their head as quickly as they read it.
Also a fun fact.. when the bunker was built, the 'official' flag of Canada as you know it today, did not exist. We still have an original flag from pre 1965. Note this place was officially commissioned in 1964, so it used to use the old red duster also called the Red Ensign for the national flag. Maple leaf didn't come in till after 1965.
So with all this in mind, I hope you can take our responses seriously. :)
Last updated: 2013-07-31 16:19 UTC
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