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Satoshi Nakamoto Revealed - Reluctant Bitcoin Inventor Revealed

Leah McGrath Goodman of Newsweek has shocked the Bitcoin world by revealing the true identity of Satoshi Nakamoto in an article that is due out on the newsstands but currently available online here.

If you have ever looked into Bitcoin you have undoubtedly heard the story that the inventor of Bitcoin was a secretive unknown entity that goes by the pseudonym of Satoshi Nakamoto. 

Opinions on who the real Satoshi was ranged from some wunderkind in Japan to the CIA to....well you get the picture.

If Ms. Goodman is correct, it turns out that Satoshi Nakamoto is actually Dorian Prentice Satoshi Nakamoto, a 64 year old Japanese American living in Temple City, California a middle class suburb of Los Angeles with a population of 36,000.  He lives in a modest home, drives a clunker, and is passionate about model trains.


Newsweek's article lays out that Satoshi wants very little to do with Bitcoin these days and has no interest in being a public figure, to the point that most of his family did not know of his involvement.

When confronted by Ms. Goodman and asked of his role in the Bitcoin project, she claims Satoshi "Tacitly acknowledging" his role, then gave this quote:
I am no longer involved in that and I cannot discuss it, it's been turned over to other people. They are in charge of it now. I no longer have any connection.
He refused to say anymore...
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Litecoin Listed on BTC China

BTC China just went live with Litecoin on their exchange.  The announcement caused quite a stir on BTC-e with LTC spiking as high as $21.95 after hovering in the mid to low $14's for most of the day.

The spike came around 1:00 a.m. Pacific, another proof positive that insomnia pays when it comes to crypto!

After what seams like years of fruitlessly waiting for the ever rumored LTC listing on M.T. Gox, it is good to see LTC make in onto a well run, high liquidity exchange like BTC China.  Maybe we will see the Chinese move back into LTC aggressively, the last time they did prices soared to as high as $48 and change at the peak.

With the PR beating crypto has taken over the past week or so, its good to see such a positive step.


They posted the following message on their website along with the banner above.

Dear Customers,
We are very excited to introduce BTC China’s new member – Litecoin!
Bitcoin grew tremendously in 2013, while another virtual currency has also made considerable progress – Litecoin. It gradually gained recognition from the Bitcoin enthusiasts. By popular request, we have now added Litecoin trading to BTC China's trading platform.
In addition, Litecoin trading will have 0% trading commission!As a responsible trading platform and a Bitcoin industry leader, BTC China is committed to providing a safe and secure platform. We always focus on the safety of customer’s funds.
We will strive to continue to offer the best service to our customers, so we appreciate any suggestions, comments and feedback.
Thank you for your support, and we wish you a happy and prosperous Year of the Horse!
BTC China TeamMarch 4, 2014

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Introducing Crypto Pros Mining Pools!

We are proud to announce the launch of our Mining Pools! We offer 2 Auto-Switching Mulitpools, ASMs for short, along with 25 coin specific pools!

There are two Auto-Switching Multipools (ASM) to choose from, one for Scrypt altcoins, and one for SHA-256 based coins including Bitcoin.

The Scrypt ASM currently chooses the most profitable coin to mine, based on current exchange rates and difficulty settings, between 20 alcoins and continually switches between then to increase your profitability.

Notice the green banner, at the time of this picture the ASM was mining DOGE

The SHA-256 ASM currently has 5 coins it chooses from, just as the Scypt ASM does, this pool switches between these five coins as one stands out amongst the other as more profitable to mine at that moment.  

Notice the green banner, at the time of this picture the ASM was mining BTC

If Auto-Switching Multipools are not your thing and you would like to focus specifically on one coin or another, we have you covered. Each coin in our ASMs can be mined solely at your discretion.

For each coin, you can set up automatic payouts to the payment address of your choice.  To best maximize your profitability, we suggest you consider utilizing Cryptsy's auto sell feature.  Read this guide to learn more. 

The mining fee is only 1.5% on all coins except Bitcoin which is at 0%!  Some standard transaction fees apply to certain coins, review the FAQ's for the pools here for full details.

If you have never used an ASM give it a try for a week and compare your results agains mining single coin, you will be impressed with the increase in profitability.

Scrypt Coins
Litecoin (LTC)DigitalCoin (DGC)PhenixCoin (PXC)DogeCoin (DOGE)Mooncoin (MOON)
FeatherCoin (FTC)NovaCoin (NVC)MegaCoin (MEC)Diamond (DMD)Earthcoin (EAC)
Mincoin (MNC)LuckyCoin (LKY)BottleCaps (CAP)Grandcoin (GDC)Lottocoin (LOT)
WorldCoin (WDC)Argentum (ARG)Cryptogenic Bullion (CGB)FedoraCoin (TIPS)AuroraCoin (AUR)
SHA-256 Coins
Bitcoin (BTC)Freicoin (FRC)PeerCoin (PPC)Terracoin (TRC)Zetacoin (ZET)
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Do you have any spare mining equipment? Thought NOT!

My mining hobby started with the intention of becoming familiar with the Linux operating system.   I thought I was pretty hot stuff with my cool milk crate and way bad 7870s humming in the background, tearing it up at almost 800k hash for the pair. 

How times change. The R9 Series GPUs were released and moving to BAMT killed any opportunity for me to become familiar with Linux. 

So one Saturday I was doing my morning ritual of checking my rigs, coin prices, and performing due diligence for my regular job and had like 8 windows and 30 internet tabs open.  Now this lap top has seen better days and wouldn't stand a chance against even the slowest turtle.  Then the daily blue screen of death popped and got me to thinking. 

I have a spare motherboard that is in great shape except for one PCIE slot that was wrecked trying to put in a presence wire.  Throw in one of those 7870s that was just decommissioned the other day,  spare power supply and that’s halfway to a new computer!

Off to the electronics store again to scoop a case, RAM, CPU and hard drive.   It was interesting that many cases didn't have fans, but the friendly associate pointed me towards one that already had the fans installed, a little more expensive, but hey, it was $70 and made it easier on me.    Being this was a work computer the CPU and RAM was upgraded over what was in my mining rigs, and of course this rig would not be running on a USB stick, so a 1 TB hard drive was added along with a DVD Burner just because it was cheap ($17).

All together (including my spare stuff) this computer ended up under $800, and after getting mining rigs working putting this together was a relative piece of cake.  It did take a little more time due to all the case wiring, but by the late afternoon I was up and running on my new Linux (Ubuntu) system. 

Overall it is pretty cool looking with several fans that glow blue, and more USB ports than the average person could ever dream of using.
 
Most importantly Ubuntu provides a nice stable platform and plenty of speed to handle all the windows and tabs that would kill my laptop in no time.

One would think this would be the end of story, but ARR Matey we be miners, and miners cannot just leave GPUs laying around not mining!   The second de-commissioned 7870 was calling my name that next morning, so with a riser cable, a little farm boy engineering (ie: tie wraps),  and a download of Cgminer  we were off and running.   After dropping the intensity down to 17 on GPU 0 the computer responded as it had before, nice and fast.  Now granted any gaming would probably require a mining shut down, but I guess there won't be any game playing on this computer!

So now I have my Linux system that can handle about anything I can throw at it and it puts out a steady 775k hash.  What more could you ask for!




Be safe, find MoAr blocks!
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Updated: Mt.Gox Goes Silent - Markets Falling

MT. Gox has gone silent! Checking www.mtgox.com as of 9:02 p.m. Pacific rewards you with a blank screen.

More telling is a quick check of their Twitter account at https://twitter.com/MtGox. Still followed by over 28,000, it appears Mt.Gox has erased all their previous tweets.

Mark Karpeles the CEO of Mt.Gox resigned from the board at the Bitcoin Foundation yesterday.

BTC is nosediving on most exchanges and LTC is following, as of 9:04 p.m. Pacific, BTC is sub $500 on BTC-e and LTC is sub $13.

Time to take your loses early, go to FIAT and look for a buy back opportunity when the panic starts to settle down.

Remember there is often profit to be made when the panic comes. We at Crypto Pros wishes you all good luck!


Taken @ 9:20 p.m. Pacific 2-24-14

Coinbase took this opportunity to publish the following letter on their blog in an attempt to shore up confidence in the viability of Bitcoin.

Joint Statement Regarding MtGox

Feb 24th, 2014
The purpose of this document is to summarize a joint statement to the Bitcoin community regarding Mt.Gox.
This tragic violation of the trust of users of Mt.Gox was the result of one company’s actions and does not reflect the resilience or value of bitcoin and the digital currency industry. There are hundreds of trustworthy and responsible companies involved in bitcoin. These companies will continue to build the future of money by making bitcoin more secure and easy to use for consumers and merchants.  As with any new industry, there are certain bad actors that need to be weeded out, and that is what we are seeing today.  Mtgox has confirmed its issues in private discussions with other members of the bitcoin community
We are confident, however, that strong Bitcoin companies, led by highly competent teams and backed by credible investors, will continue to thrive, and to fulfill the promise that bitcoin offers as the future of payment in the Internet age.
In order to re-establish the trust squandered by the failings of Mt. Gox, responsible bitcoin exchanges are working together and are committed to the future of bitcoin and the security of all customer funds. As part of the effort to re-assure customers, the following services will be coordinating efforts over the coming days to publicly reassure customers and the general public that all funds continue to be held in a safe and secure manner: Coinbase, Kraken, BitStamp, Circle, and BTC China.
We strongly believe in transparent, thoughtful, and comprehensive consumer protection measures. We pledge to lead the way.
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers.  Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading.
The following industry leaders stand by this statement:
Fred Ehrsam — Co-founder of Coinbase
Jesse Powell — CEO of Kraken
Nejc Kodrič — CEO of Bitstamp.net
Bobby Lee — CEO of BTC China
Nicolas Cary — CEO of Blockchain.info
Jeremy Allaire — CEO of Circle

Crypto Pros applauds the efforts of Coinbase and the industry leaders above who lend their support to the statement.

Update 8:13 a.m. Pacific 2-25-14

Checking www.mtgox.com this morning we find they have posted the following message on their website, the rest of the site remains blank:

Dear MtGox Customers,
In the event of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.
Best regards,
MtGox Team


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Multipool.us vs. DOGE Solo Mining

We are conducting a 4 week test comparing the profitability of Multipool.us vs. DOGE coin single pool mining on Coinotron. We will provide weekly status updates on the progress of the test.

The rigs being used in this testing are identical and both are running on the same network (see specs below):

Motherboard: MSI Z77A-GD65.
RAM: DDR III 2 GB.
HDD: SSD Scandisk 64GB
PSU: Thermaltake Toughpower Grand TPG-850M 850W
GPU: x2 GIGABYTE GV-R797OC-3GD GRAPHICS CARD - 3 GB

Running Xubuntu with cgminer from this article:

On this test we are using the cryptsy auto-sell feature with weekly payouts.

Results:

Week 1

We have finished the first week of our 4 week test of Multipool.us vs. DOGE coin single pool mining. The results were very close.  As the week started, single pool DOGE was in the lead by a slight margin, but Multipool.us finished the week strong and pulled ahead.

February 24th, 2014:
Multipool: 0.07403249 BTC
Coinotron Single Pool: 0.07338425 BTC


Week 2

We has a power outage during the weekend that was not caught till today. The outage effected both boxes equally, this is the reason for the low #s this week. Next week will will be using the auto payout function of Multipool to test payout strategies.

This puts us half way through our test and so far Multipool is in the lead by 0.00287637 BTC.

March 3rd, 2014:
Multipool: 0.03072813 BTC
Coinotron Single Pool: 0.0285 BTC



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