$50k Worth Bitcoin Puzzle Solved

Unnamed programmer encrypted the code of BTC wallet with 4.87 BTC, encrypted in the painting
07 February 2018   411

Wishing to remain anonymous, the programmer deciphered the secret code of the bitcoin wallet, which Robot Myers, the cryptographer, as early as 2015 placed in the picture TORCHED H34R7S, later called "The Legend of Satoshi Nakamoto." As a reward for his efforts, an unnamed hero received 4.87 BTC, reports Motherboard.

At first, programmers and enthusiasts tried to solve the problem collectively at the Bitcointalk forum. Now in the corresponding thread about 74 pages of comments with different options, most of which have occurred in the last two years.

However, on February 1, the entire amount from the encrypted bitcoin wallet 1FLAMEN6 was withdrawn. This served as a signal to the fact that the puzzle was finally solved.

The 30-year-old winner refused to disclose his name, claiming that it is "unsafe to own the bitcoins" in his country. He said that he is fond of cryptography with his wife. In the picture they found a reference to the work of William Shakespeare "Phoenix and the dove."

Encryptor sorted out that the picture encodes a string of binary code, the symbols of which correspond to one of the flames in the flame along the edges of the canvas. The color and shape of each determined a piece of four characters that complemented the code hidden in the ribbons in each of the corners. Then he used a handwritten program in Java, which translated a string of zeros and ones to the bitcoin-wallet code.

It is worth noting that the man joined in the solution of the cipher a little more than a month ago and, by his own admission, he could not move for a long time until he got a picture in 4K-resolution.

Bank of America: Cryptocurrencies Are a Threat

Bank of America (BoA) has admitted to US regulators it can not pretend any longer that cryptocurrencies are not a threat
23 February 2018   137

On February 22, the report was filed with the US Securities and Exchange Commission (SEC). It listed a range of economic, geopolitical, and operational risks that the Charlotte, NC-based bank faces as it heads into the new fiscal year. Crypto adoption was on the list for the first time.

Bank of America (BoA), which recently banned purchasing of crypto with credit cards, stated that this and other similar policies could cost the bank clients.

Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.

The second largest bank in the U.S. said that adoption of cryptocurrencies could require the bank to make “substantial expenditures” to update its existing services and remain competitive with upstart firms.

The widespread adoption of new technologies, including internet services, cryptocurrencies, and payment systems, could require substantial expenditures to modify or adapt our existing products and services.

According to the Bank of America, cryptocurrencies could limit the institution’s ability to comply with anti-money laundering regulations.

Eventually, this is one of the first public admissions that financial institutions are beginning to worry that mass cryptocurrency adoption could one day become a reality.