Bitcoin’s “Reserve Risk” Indicator Suggests the Next ...

Bitcoin 2015 so far

I don't know about you guys, but I've noticed that shit in bitcoin-land seems to be moving faster and faster... I browse this sub and a few other communities daily, and I've been making a short note whenever something significant happens. Lots of good, even more bad, probably a lot of stuff that I missed, and plenty of sweet drama :) Here's what I've got for January 2015
(these are not in exact order)
Again, probably lots that I missed, but all in all it's been a pretty balls-to-the-wall last 4 weeks. I don't have time to find references for all of these, but if another redditor wants to do it that would be cool. Here's to another month of madness
tl;dr running out of popcorn, need to buy more.
edit adding in some other items people mentioned below
submitted by cryptonaut420 to Bitcoin [link] [comments]

[ACTUAL SHILLING] Let's see who's defending Uphold over in /r/bitcoin.

So there's this company, Uphold, which basically made up most of their balance sheet by introducing a 100% premined cryptocurrency, Voxel.
They claim to operate as a full reserve, but the nature of their assets doesn't match the nature of their liabilities. If you remove all Voxel assets and obligations, there's a negative balance. Note that this is according to the balance sheet they publish themselves which is not audited in any way (they don't even publish their BTC addresses and provide signed messages).
Just three days after it was on /buttcoin, /bitcoin noticed it too. In that thread, several people defended Uphold. Let's have a look at them.
There's bittyboyboo with this comment:
OP is a Redditor for 12 hours, but sounds like a long-time and serious Uphold hater. Wonder why?
Uphold is an awesome service and I use it to move money from my UK bank account to my UH wallet to buy BTC. They are the cheapest and easiest way to buy and sell BTC that I've found. What's cheaper than free? What's faster than instant?
There's enough legit Garza/Gox action in cryptoland without bad-mouthing the only company that publishes what they are doing in real-time. OP--you sound like the insolvent (and butthurt) scammer.
The user history shows just three other comments, one hating on Cryptsy, one recommending another service, airtm.io, and, one month ago, a recommendation of Uphold.
Now you might say, okay, so this guy is just a satisfied customer who doesn't like to post a lot.
So let's go over to bitgoldtruth with this comment:
OP is way off and sounds like he's a competitor spreading FUD.
Uphold is centralized, so I don't use them, but they are legit and have become a very important part of the BTC ecosystem.
I've looked a the Voxel (VOX) as a potential scam (because that's what I like to do)-- see my previous posting history about Paycoin, Bitgold, etc.
Voxel is a pre-mine, but it does have a very specific real-world use-case-- the purchase of content on Voxelus.com.
UH puts it all out there on their transparency page, which is the only reason OP could do this analysis. I applaud that transparency.
TL;DR: Voxel not a scamcoin, Uphold is solvent and the only financial service in the world that I know of that is 100% transparent in real-time. Instead of bashing UH, why not demand that Circle and Coinbase and Bitstamp also implement real-time transparency.
You might not like their management, but there is no denying that they benefit BTC by offering an excellent and innovative service.
Again-- I don't like them and don't use them, but let's save cries of insolvency and scamcoin for the company's that deserve it. I've been guilty of this myself and now am much more careful. There's plenty of bad guys in this space, but UH is not one of them.
Looking at their posting history, you see them defending Uphold with an almost identical post three days ago, defending Uphold two months ago, calling Bitreserve (the old name of Uphold) legit eleven months ago and hating on Cryptsy. Also, they seem really sold on the idea that Bitgold, a competitor to and one-time opponent in court of Uphold, is a scam. (1, 2, 3, 4, 5, 6, 7, 8, 9, 10)
Well, you say, that's just a guy with a strong opinion, isn't it?
Let's go over to CaptainCloudMoney, who brought us this comment:
OP is full of BS.
Uphold is demonstrably solvent if you know how to do math.
The only reason OP can pretend to do the math is Uphold publishes a real-time accounting of their assets and liabilities.
I'm a long-time UH supporter and investor and they just keep getting better and better. The market values innovation and UH is by far the most innovative company in the fintech/crypto space.
And for the record-- I'm long voxels because it's a bet on the future of virtual reality, which I have little doubt will do to video what video did to radio.
Uphold FTW!
Now if you go through their comment history, it's basically one big Uphold advertisement, and before that, one big Bitreserve advertisement (as you remember, the old name of Uphold). I won't go into detail here because it's really that obvious, but note that they're also plugging airtm.io (and again), just like our four-comment friend bittyboyboo did.
Well then. I think we can close the case now, Uphold is just a great company with a lot of satisfied users who all love Uphold and will defend it by attacking anybody who posts something against them. There is absolutely no foul play going on here.
submitted by Mark_Karpeles_ to Buttcoin [link] [comments]

Bitreserve / Uphold Service has seized my bitcoins.

Uphold, formally known as Bitreserve has frozen my account preventing me from transferring my bitcoins out of the account. When I log in it now says that I've exceeded their $1000 transaction limit and prompts me to send them a copy of my government issued ID.
I opened a support ticket a week ago. A few days later sent them another message under that support request. Its been over a week and I've received no response to my questions and concerns.
There is over $1000 in my account. I was aware of some sort of transaction limitation if I didn't provide them with an ID. Although I'm not aware of a term agreement allowing them to hold my bitcoins indefinitely.
This situation materialized by no action of mine. The bitcoins have been sitting in the account for months without any transaction. It seems like they instituted a new policy, locking all accounts that have not provided them with an ID.
Uphold, Inc. = Unethical business practices and non existent customer support.
Screen capture of my account dashboard: http://www.fileconvoy.com/dfl.php?id=gabf48af83aac9adc99978026121b81cd4edbf2a51
submitted by Dave_Rock to Bitcoin [link] [comments]

Bitreserve Needs Bitcoin (and Vice Versa)

Bitreserve is strong, but it's 100% dependent on bitcoin for the time being. Bitcoin's got problems, but it's really amazing that it's the first financial service that no one owns and that simply cannot be shut down.
One of the Bitreserve guys once wrote (on a Crowdcube message board post) that Bitcoin was nothing anyone could use, but it was everything we needed to change the current bankster-run financial system (paraphrasing). But maybe a stronger bitcoin means a stronger Bitreserve and vice-versa.
Maybe Bitreserve and bitcoin should support each other instead of taking big old steaming dumps on each others' heads. If Bitreserve succeeds, it could make bitcoin a lot stronger, bringing average consumers into bitcoin. And the more bitcoin flourishes, the more people who might find Bitreserve's volatilty protection interesting.
So let's all join hands and sing the Battle Hymn of the Cloud Money Revolution:
Mine eyes have seen the glory of the coming of Cloud Money; It is trampling out banks' love of nickel-and-diming me; Bitcoin hath loosed the fateful lightning of its more or less swift BTC; Cloud Money is marching on.
Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Cloud Money is marching on.
I have seen bitcoin in the watch fires of a hundred reddit threads; They have built bitcoin an altar in their hearts and in their heads; They can see BTC @ gold parity even when they take their meds; Cloud money's day is marching on.
Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Cloud money's day is marching on.
I have read a fiery blog post writ in burnished rows of text; “As ye know about Netscape's demise, so shall BTC be next”; Let the smart-money bet on Bitreserve, and not some hot crypto mess." Cloud money is marching on.
Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Since Cloud money is marching on.
Bitcoin has sounded forth the trumpet that shall never call retreat; Smart VC's and the Winkletwins--no way can they be beat; If only Ross Ulbricht had run Silk Road from somewhere like Mozambique; Cloud money is marching on.
Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Cloud Money is marching on.
In the beauty of Satoshi's mind was born our beloved BTC, Pretty fast, nearly free, and with real-time transparency: But to understand it you need a fucking PhD; While Cloud Money is marching on.
Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! While Cloud Money is marching on.
Cloud money is coming like the glory of a mass bankster suicide, It's a boon to everyone except those banks too big to die, When transparency reigns supreme, there'll be no way for them to lie, Cloud money is marching on.
Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Cloud money is marching on.
submitted by CaptainCloudMoney to Bitcoin [link] [comments]

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Bitreserve proof of withdraw!

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