Saturday, April 6, 2013

TorBroker - The Silk Road of Stock Brokers

A daring new service, "TorBroker," was quietly announced in the gambling (how ironic) sub-forum of bitcointalk.org last week.

TorBroker does for securities trading what Silk Road did for the drug trade, allowing users to buy and sell any of nearly 1000 stocks and ETFs anonymously and under the cover of the Tor network. Users fund their accounts with Bitcoin and pay a 1% fee to buy and sell securities.

The main selling points of the service are that users can access publicly traded securities without providing any identifying information, not even an email address, while masking their IP addresses through the Tor network, and of course, dodging capital gains taxes. Trades can only be executed at the opening bell, so day traders won't find this service overly useful.


Can you trust TorBroker to not run away with your Bitcoins? Well, there's an interesting answer, with a dramatic Bitcoin twist. Roger Ver, a.k.a. "Bitcoin Jesus," was contacted by the creators of TorBroker and was asked if he'd be willing to hold 1000 BTC as a security bond that could be used to pay back users in the event that TorBroker disappeared. Here's the full quote:
"I don't know TorBroker or any of the people behind it, but about a month and a half ago they contacted me, and at least one other well known member of the Bitcoin community, and asked us to publicly hold 1,000 BTC as a security bond that would be used to refund customers if TorBroker ever disappeared with their customers money.
While I fully support TorBroker's efforts to bring additional economic freedom to traditional financial markets, legally it didn't seem safe for me to be the front man for this.
The fact that they were looking for someone to hold this bond seems to be a strong indication that they are in this for the long term, and do not intend to disappear with everyone's money.
If the regulators are able to uncover the true identities of the TorBroker accounts, I am sure that they (the regulators) will steal everyone's money though.
I wish TorBroker the best of luck,  and financial tyrants the worst."
No doubt, if the Silk Road has pissed off the FBI, TorBroker is really going to get the SEC's skivvies in a knot!

TorBroker can be accessed with the Tor Browser at http://torbrokerge7zxgq.onion.

22 comments:

  1. This is the kind of thing, unfortunately, that brings closer the day when the bankster/gov puppet masters get so upset, that they just declare the use of Bitcoins to be illegal. They have the power to do this, and they will, if they deem it necessary. If that happens, merchants will run for the hills, and BTC potential growth will fizzle out.

    I hope these guys are not successful, for the sake of any digital currency's survival. And just like Satoshi did when he stated that Wikileaks should not accept BTC until later (which is what happened,) we need more time for people to learn and understand what BTCs are, and how important they are. Otherwise, at this moment in time, we take a huge risk that might kill the revolution before it even gets started.

    ReplyDelete
    Replies
    1. Hmm... Using confiscation as an example, what happened to the price of gold when FDR declared holding it illegal?

      Did it:
      A) Stay the same.
      B) Decrease.
      C) Increase after FDR subsequently revalued gold higher. Then continue to increase in value after that.

      Simple multiple-choice quiz for you. I look forward to your answer.

      Delete
  2. It doesn't matter what it did. This isn't the no computer, no internet, loosely integrated banking world of the 1930s.

    The choke points for BTC are the exchanges. Shut them down and the commerical interest in BTC retreats into the shadows. Do you not think that the power of the NSA's computers/netBots couldn't easily do that if they wanted to? Or, a few scary CIA goons having a "talk" with the owners of the exchanges up close and personal, wouldn't accomplish the equivalent? If you really think the banks/gov, which is really just ONE MONSTROUS piece of PSYCHOPLASM, is going to sit by and watch itself slowly evaporate, you are dreaming. They'll think of a way. And if you really don't think so, then go ahead and invest all your money in BTC. What could go wrong?

    ReplyDelete
    Replies
    1. The most popular exchange is'nt even in this country - how would they go about this?

      Now of course they could start an international incident or call in foreign help to intimidate and destroy - but more often than not, in this technology sector we're in; your advisory doesn't think you're big enough to be a problem until its too late.

      google and yahooo
      netflix and blockbuster
      apple and microsoft to a degree

      countless stories of this

      Delete
    2. I come from commy country and there you were not allowed to hold hard currency. Sollution black market. If bitcoin has any utility it will be traded. Just like drugs are or anything else.

      Delete
  3. Boy, do I hope you're right.

    But its never too late when you control the military, to do whatever you want if you feel threatened enough. Keep you're fingers crossed.

    ReplyDelete
  4. thanks for sharing...

    ReplyDelete
  5. "The choke points for BTC are the exchanges. Shut them down and the commerical interest in BTC retreats into the shadows. Do you not think that the power of the NSA's computers/netBots couldn't easily do that if they wanted to?"

    Upon reading this (from the comments) I think that this would perhaps bring the prices down in the short run, but it won't be able to bring down Bitcoin as a whole...

    It has been said that even if 99% of all Bitcoins got destroyed or stolen somewhow, then even the remaining 1% will still be enough to satisfy the whole world's needs, through Bitcoin's divisibility this is no problem! :D

    So no, taking down the exchanges by the criminal governments will only end people from getting into BTC, but in no way does this end bitcoin trading/use.


    Cheers,
    Arthur

    @artieaust

    ReplyDelete
  6. How can you possibly be assured, with a service like this, that you really own the shares? Do they provide any way to transfer them out to a normal brokerage, or withdraw them as paper stock certificates? If not, then it is almost certainly a scam.

    ReplyDelete
  7. Here is some information shared with me today...


    https://btc-e.com/api/documentation

    Sign — POST data (?param=val&param1=val1) signed by a secret key according to HMAC-SHA512 method;

    HMAC-SHA512 method; = 512 encryption - developed by the NSA.... I told you the USA was running this shit!

    Now we need to find out what it is exactly.... dude you need to tell everyone you know that the NSA developed this, for what is the question.


    http://www.truecrypt.org/docs/?s=sha-512

    http://en.wikipedia.org/wiki/TrueCrypt - Why doesn't truecrypt accept bitcoin donation???


    http://www.nsa.gov/

    2009 National Security Agency Privacy | Terms of Use | NoFEAR Act | FOIA | DNI.gov | DOD.mil | USA.gov | Contact Us | Site Map


    http://www.nist.gov/index.html

    Date created: March 17, 2010 | Last updated: April 17, 2013 Contact: inquiries@nist.gov

    ReplyDelete
  8. I am sure everyone involved in this is being watched by them, we can still make money doing this, but what are we doing for them is the fucking riddle to be figured out... I think they are building a new back bone under the dark nets maybe? Just a guess. What exactly is being HASHED? Maybe everyone is cracking 256 dark net encryption's with this damn SHA512 method all the while they are fronting it like the new digital hot currency...that is my thoughts. By participating in this data mining for them (BITCOIN MINING) they have created a supper computer network and a method to pay the global data miners...just my theory. Obviously it is too late to stop it, it is in motion, and is paying good money for work done. This is a complete mind fuck as well the information that has now popped up over the last 3 years is very overwhelming and designed to be such, there is some hidden agenda here, I am 100% sure of it and this is no conspiracy theory either...the information is in the links above. NSA developed this method, this speaks volumes to me, everyone mining has to be working for the USA. The writing is on the wall. The next brain fuck will be the realization that it is directly tied to face book and then we will come to understand that these things I have mentioned above cannot be disputed as fact. They are putting the mark on every living soul on this planet and I believe that the union of these two methods is their key to achieving such a task along with the RFID chipping soon to come. People are so much in the dark they just run around like grazing sheep. The question we have to answer is can we live with the possibilities of these fact and just use this to make money. They are defiantly tapping global resources through this method and on the CHEAP. They have every geek in the world working for them via this method. Someone needs to dig DEEP into this before it gets totally out of control.

    ReplyDelete
  9. I attached a new cashe of information I have found as well, you tell me why they would need these major and minor levels of this system and why this type structure if it is only some crazy off the wall kids idea developed through MIT?



    I was always told if it looks like shit and smells like shit it will most likely taste like shit, therefore it is shit!



    What we need to try and figure out is if by doing this, does it further benefit us as a business in the future, or are we all being used as pawns in the USA governments next big global suprise and all our efforts will be for naut. This is the question ahead of us all.





    One last question for me is...who is giving USD/RUB/EUR for bitcoin if it is not recognised as a (MSB)



    http://en.wikipedia.org/wiki/Bitcoin



    FinCEN regulation
    On 18 March 2013, the Financial Crimes Enforcement Network (or FinCEN), a bureau of the United States Department of the Treasury, issued a report regarding centralized and decentralized "virtual currencies" and their legal status within "money services business" (MSB) and Bank Secrecy Act regulations.[32] It classified digital currencies and other digital payment systems such as bitcoin as "virtual currencies" because they are not legal tender under any sovereign jurisdiction. FinCEN cleared American users of bitcoin of legal obligations by saying, "A user of virtual currency is not an MSB under FinCEN’s regulations and therefore is not subject to MSB registration, reporting, and recordkeeping regulations." However, it held that American entities who generate "virtual currency" such as bitcoins are money transmitters or MSBs if they sell their generated currency for national currency: "...a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter." This specifically extends to "miners" of the bitcoin network who may have to register as an MSB and abide by the respective requirements of being a money transmitter if they sell their generated bitcoins for national currency and are within the United States.[30]

    Additionally, FinCEN claimed regulation over American entities that manage bitcoins in a payment processor setting or as an exchanger: "In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency."[31][32]

    In summary, FinCEN's decision would require Bitcoin exchanges where bitcoins are traded for traditional currencies to disclose large transactions and suspicious activity, comply with money laundering regulations, and collect information about their customers as traditional financial institutions are required to do.[41][42]

    Patrick Murck of the Bitcoin Foundation criticized FinCEN's testament as an "overreach" and claimed that FinCEN "cannot rely on this guidance in any enforcement action".[43]







    doesn't this look very familiar to when bitcoin launched....no fucking detailed information.



    http://www.ppcoin.org/





    How the hell can bit coins be converted to currency and who is overseeing this action...The FEDS is my best guess. What are they TROLLING for?

    ReplyDelete
  10. I thought you would find this old article for 2002 interesting as well:



    The NSA with unparalleled resources could build a computer capable of factoring these keys. Experts say that this system could be built at a cost of about 1 billion dollars.



    http://www.geek.com/news/512-bit-keys-cracked-in-6-weeks-549618/




    Tell me this does not SCREAM....................BITCOIN GLOBAL DATA MINING SUPER COMPUTER!!!

    They cannot control the deep webs and are scared of this fact, here lies the problem for them, BITCOIN is their solution and the very geeks that are using these services are unknowingly helping the NSA to infiltrate them via this method IMHO. Silk road and many other illegal services can be thanked for this attack!!! 100's of billions of dollars are on the table and elite control will be lost in the next 10 years if the do not contain this, so they are trying through BITCOIN. This is the only logical explanation for the very secrecy of the whole system and I have believed this from its inception, they are trying to sneak in, BITCOIN is one GLOBAL WORM in my opinion, desigend to do their payed dirty work. Lets say that it turns up in court one day that this is to be fact, then how can anyone complain about what happend? They all were paid to takedown their own system. Still smells like shit to me, but overall it is probably going to work for them and BITCOIN will make it, with rules and regulation later enacted after the job is completed!!! This is my new opinion and theory of what is really going on here. Bitcoin is not going away and I still believe we must move forward with our pursuit of mining. So get those rig costs together brother and lets see what we can come up with.

    http://arstechnica.com/tech-policy/2012/11/how-four-microsoft-engineers-proved-copy-protection-would-fail/



    http://arstechnica.com/tech-policy/2013/04/fbi-denied-permission-to-spy-on-hacker-through-his-webcam/

    ReplyDelete
  11. Can you all say NSA HACK ATTACK on your very dark nets you love so much!!!

    ReplyDelete
  12. When in Rome do as the Romans do...!

    ReplyDelete
  13. Buch of paranoid morons.

    ReplyDelete
  14. I think the trick here is to not make everything colourful. Although some of these get away with it.

    ReplyDelete
    Replies
    1. National,

      No tricks here you troll, only the facts that the US GUBERNMENT doesn't want anyone to be informed about...As always when the facts come out BASH it into the ground or label it a conspiracy spoken by a mad man or fool, of which I am neither. Here is a link to more NSA shenanigans and it's all for YOU America!!! I guess you all think this fellow is uninformed and a crazy conspiracy theorist as well…right? Learn to read and go get yourself sum edumakatun…you dope! This information is as real as it gets, if you continue to support this mining effort you will all pay for it in the end with your privacy!

      Jacob Appelbaum 29C3 Keynote: Not My Department

      http://www.youtube.com/watch?v=QNsePZj_YksOne

      One of, if not the, smartest man currently walking upon the earth and he is not pulling the wool over anyone’s eyes or backing down either… The Truth Hurts Uncle Sammy Doesn’t It!

      Delete
  15. I have seen your site… site is good,,,, if you put more images or photo gallery in it… then will more attractive .... knowledgeable information in site. Thanks for share with us.

    ReplyDelete
  16. My, Dear sir

    Main point here – just get weblog on thebitcointrader.com.It is a option able website for all of us.This website help us many way.So I like it. It’s awesome how many profitable tasks I’ve gotten via my weblogs. Plus my weblogs have been an excellent way to demonstrate situations my composing just as much as segments, examples, etc.As I want to share The one worry that keeps most grownups up at night is the worry that they might not have enough cash to maintain their way of life or live and retire in comfort. With the blowing up, increasing increasing Free penny stock alerts, and higher taxation growing, this is a very actual problem for most of the inhabitants. Instead of being scared, traders need to take action to ensure that the above circumstances will not impact them adversely should they ever happen.

    Thank you very much for your fantastic Article.

    ReplyDelete
  17. i put 50 bucks in as a test but cant withdraw, keep getting server error(500).
    im smelling a scam

    ReplyDelete
  18. It is a modern resource for finantial market. I like your website very surely. Thank's very much for this website. If you want more informastion about stock watch to visit stock watch Keeping a stock watch list can be a critical for a trader. There are many different reasons why statement is true. First things first, what exactly is a stock watch list? This is a list of stocks that you feel are good strong companies for whatever reason. It may be that these companies have strong earnings and the company itself is a good investment.

    ReplyDelete

Note: Only a member of this blog may post a comment.