So just to sum up , taking place currently: ( conspiracy )

submitted by k_digi

  • Chinese stocks crashed and frozen.
  • New York stocks suspension ("hack")
  • United Airlines hack/or "issues"
  • Bitcoin hack , blockchain is not functional.
  • Greece default, stock collapsed , exit EU.
  • Greece possibly leveraging new NDB BRICS BANK for exit.
  • Puerto Rico Bankruptcy.
  • Portugal stock crash , bond yeild spike.
  • War / destory everything / chaos / sponsor terrorism failing to have effect.

Interesting to say the least.

Re Bitcoin people are desperate to hide this info see here;

https://voat.co/v/FalloutCaps/comments/199535

Tldr

  • A possible amazing hack in which Chinese miners took out a large opposition mine.
  • the hack was prompted by the "foundation" slipping in a sneaky "hard fork" to try to take power from these miners.
  • We dont know who owns the Blockchain right now.

SarMegahhikkitha

  • China setting up central bank to challenge USD hegemony; suddenly people can't exit to bitcoin and Chinese stock market crashes; China and Russia retaliate with a cyberattack on the St. Louis Fed
  • Turkey attacking Kurds, have their equipment sold to them by the US hacked (probably by US lol)
  • Puerto Rican bond markets crashed
  • Muslim brotherhood in Egypt calling for revolution

k_digi

Will add summary. Ty

BeerBaron

I'm wondering if the BitCoin stuff is at all related to the volatility in today's markets- people trying to move/hide liquidity. Not knowing how BitCoin works though, I can't really say that with any certainty.

The markets you mentioned are doing bad because, ya know, they're related. If one starts to crap itself, others usually do so as well. Considering you have a major bubble in China that's going poof and a full-on default in Greece, volatility is too be expected. I had thought that the NYSE halting was an attempt to stop it from crashing as a result of other market and it may have actually had that effect. They all took a solid hit today and may have been a lot worse if NYSE hadn't "accidently" had a problem. It'll be interesting to see what happens when markets open in the AM.

UA is an outlier with antiquated technologies. I fail to see anything nefarious, especially related to everything else in this group.

madmalloy

Two downvotes so far for this summary.

Go fig.

drbarke

All I will say is it appears there's nothing conspiratorial about what conspiracy theroists have been saying all along. The gears are slowly starting to turn.

Sorahzahd

Bitcoin hack , blockchain is not functional.

Well, one, there is no "hack". People are sending spam transactions, which slows down transaction processing IF you include no fee or very little fee. A fee of 5 cents is enough to get past the spam transactions.

So not only is it not "hack[ed]", it's also still operating just fine.

Tripsick

tom cruise leaving scientology...

Iamoutlaw

Someone from HackTeam is pissed and taking it out on everyone.

Djongo

It was probably the hacker 4chan.

sadam029

Please return to reddit.

relative_iterator

Do you have any information to link to on the bitcoin hack? I'm trying to search for some stuff but not finding a complete article on what's happening.

k_digi

See op now. Cheers.

relative_iterator

Awesome, thank you!

Sorahzahd

There was no hack on Bitcoin - that's bullshit.

What's actually happening is that the transaction processing has slowed down some because there are some people out there sending shitloads of super tiny transactions (1/4 of one cent) to bog it up.

It's more like a very weak DDOS than a "hack", and can be worked around by anyone using Bitcoin by simply including a slightly larger transaction fee (little as 5 cents, compared to the like 2 cents or something it would suggest).

deathcomesilent

Coincidentally (or maybe not), several thousand of those micro-transactions have been sent as donations to voat's bitcoin address. I have no clue who stands to gain from tying voat supporters to this bitcoin attack, but that's the only working theory I have.

You can see their incoming transactions here on blockchain.info.

Each of these addresses seems to be unique, sending exactly .00001BTC(~1/5 cents each), in batches of a few hundred, all at the same exact time, down to the second. The most recent batch of transactions was at (2015-07-08) 15:26:16.

If you all want a (potentially) new corporate conspiracy to dig into, this on is untouched/unexplained as far as I know.

BeerBaron

That is pretty damn odd. How would one even 'dig' into this though, my understanding was that it was all anonymous specifically to prevent seeing who was giving money to who.

mark132012

You can't see who used the Bitcoin, but you can follow where the Bitcoin was; that's why some tumble their coins before going on the black market.

BeerBaron

Ahh, I see. Thanks for the clearing that up.

relative_iterator

Ah Thank you! Who implements the transaction fee?

Also, why would increasing the fee stop the DDOS attack? Would it just make it cost more to continue the DDOS or is there a technical reason?

deathcomesilent

You nailed it. Increasing the price just ups the stakes until one side gives up.

Though it's clear this isn't a full throtle attack, my voat donation took 24 hours to go through, but it did go through.

Sorahzahd

The transaction fee is chosen by the user making the transaction - whether or not its enough to get your transaction through as fast as you like is just based on competition with other users that may have chosen a higher fee. Some Bitcoin wallet clients can calculate an optimal fee, but that's a suggestion rather than being enforced on the user.

Increasing the fee you use when sending a transaction doesn't stop the DDOS - it just means that your transaction will be prioritized for inclusion in a block (a list of verified transactions) over ones with a lower, or no, fee.

Since the DDOS transactions have no fee, they will come after transactions sent with non-zero fees.

relative_iterator

Thanks so much for this! Looks like there's still a lot more I need to learn about bitcoin.

VforVoatdetta

Good thing I'm already broke and have no money in the bank anyway...but if I did I'd invest in a safe right about now.

Djongo

You and me both sir! I think I'm in that lucky group who would actually do BETTER if the banking industry completely collapsed.