Novogratz: Now is the best time to buy Bitcoin

Proposal: The Sia Foundation

Vision Statement

A common sentiment is brewing online; a shared desire for the internet that might have been. After decades of corporate encroachment, you don't need to be a power user to realize that something has gone very wrong.
In the early days of the internet, the future was bright. In that future, when you sent an instant message, it traveled directly to the recipient. When you needed to pay a friend, you announced a transfer of value to their public key. When an app was missing a feature you wanted, you opened up the source code and implemented it. When you took a picture on your phone, it was immediately encrypted and backed up to storage that you controlled. In that future, people would laugh at the idea of having to authenticate themselves to some corporation before doing these things.
What did we get instead? Rather than a network of human-sized communities, we have a handful of enormous commons, each controlled by a faceless corporate entity. Hey user, want to send a message? You can, but we'll store a copy of it indefinitely, unencrypted, for our preference-learning algorithms to pore over; how else could we slap targeted ads on every piece of content you see? Want to pay a friend? You can—in our Monopoly money. Want a new feature? Submit a request to our Support Center and we'll totally maybe think about it. Want to backup a photo? You can—inside our walled garden, which only we (and the NSA, of course) can access. Just be careful what you share, because merely locking you out of your account and deleting all your data is far from the worst thing we could do.
You rationalize this: "MEGACORP would never do such a thing; it would be bad for business." But we all know, at some level, that this state of affairs, this inversion of power, is not merely "unfortunate" or "suboptimal" – No. It is degrading. Even if MEGACORP were purely benevolent, it is degrading that we must ask its permission to talk to our friends; that we must rely on it to safeguard our treasured memories; that our digital lives are completely beholden to those who seek only to extract value from us.
At the root of this issue is the centralization of data. MEGACORP can surveil you—because your emails and video chats flow through their servers. And MEGACORP can control you—because they hold your data hostage. But centralization is a solution to a technical problem: How can we make the user's data accessible from anywhere in the world, on any device? For a long time, no alternative solution to this problem was forthcoming.
Today, thanks to a confluence of established techniques and recent innovations, we have solved the accessibility problem without resorting to centralization. Hashing, encryption, and erasure encoding got us most of the way, but one barrier remained: incentives. How do you incentivize an anonymous stranger to store your data? Earlier protocols like BitTorrent worked around this limitation by relying on altruism, tit-for-tat requirements, or "points" – in other words, nothing you could pay your electric bill with. Finally, in 2009, a solution appeared: Bitcoin. Not long after, Sia was born.
Cryptography has unleashed the latent power of the internet by enabling interactions between mutually-distrustful parties. Sia harnesses this power to turn the cloud storage market into a proper marketplace, where buyers and sellers can transact directly, with no intermediaries, anywhere in the world. No more silos or walled gardens: your data is encrypted, so it can't be spied on, and it's stored on many servers, so no single entity can hold it hostage. Thanks to projects like Sia, the internet is being re-decentralized.
Sia began its life as a startup, which means it has always been subjected to two competing forces: the ideals of its founders, and the profit motive inherent to all businesses. Its founders have taken great pains to never compromise on the former, but this often threatened the company's financial viability. With the establishment of the Sia Foundation, this tension is resolved. The Foundation, freed of the obligation to generate profit, is a pure embodiment of the ideals from which Sia originally sprung.
The goals and responsibilities of the Foundation are numerous: to maintain core Sia protocols and consensus code; to support developers building on top of Sia and its protocols; to promote Sia and facilitate partnerships in other spheres and communities; to ensure that users can easily acquire and safely store siacoins; to develop network scalability solutions; to implement hardforks and lead the community through them; and much more. In a broader sense, its mission is to commoditize data storage, making it cheap, ubiquitous, and accessible to all, without compromising privacy or performance.
Sia is a perfect example of how we can achieve better living through cryptography. We now begin a new chapter in Sia's history. May our stewardship lead it into a bright future.
 

Overview

Today, we are proposing the creation of the Sia Foundation: a new non-profit entity that builds and supports distributed cloud storage infrastructure, with a specific focus on the Sia storage platform. What follows is an informal overview of the Sia Foundation, covering two major topics: how the Foundation will be funded, and what its funds will be used for.

Organizational Structure

The Sia Foundation will be structured as a non-profit entity incorporated in the United States, likely a 501(c)(3) organization or similar. The actions of the Foundation will be constrained by its charter, which formalizes the specific obligations and overall mission outlined in this document. The charter will be updated on an annual basis to reflect the current goals of the Sia community.
The organization will be operated by a board of directors, initially comprising Luke Champine as President and Eddie Wang as Chairman. Luke Champine will be leaving his position at Nebulous to work at the Foundation full-time, and will seek to divest his shares of Nebulous stock along with other potential conflicts of interest. Neither Luke nor Eddie personally own any siafunds or significant quantities of siacoin.

Funding

The primary source of funding for the Foundation will come from a new block subsidy. Following a hardfork, 30 KS per block will be allocated to the "Foundation Fund," continuing in perpetuity. The existing 30 KS per block miner reward is not affected. Additionally, one year's worth of block subsidies (approximately 1.57 GS) will be allocated to the Fund immediately upon activation of the hardfork.
As detailed below, the Foundation will provably burn any coins that it cannot meaningfully spend. As such, the 30 KS subsidy should be viewed as a maximum. This allows the Foundation to grow alongside Sia without requiring additional hardforks.
The Foundation will not be funded to any degree by the possession or sale of siafunds. Siafunds were originally introduced as a means of incentivizing growth, and we still believe in their effectiveness: a siafund holder wants to increase the amount of storage on Sia as much as possible. While the Foundation obviously wants Sia to succeed, its driving force should be its charter. Deriving significant revenue from siafunds would jeopardize the Foundation's impartiality and focus. Ultimately, we want the Foundation to act in the best interests of Sia, not in growing its own budget.

Responsibilities

The Foundation inherits a great number of responsibilities from Nebulous. Each quarter, the Foundation will publish the progress it has made over the past quarter, and list the responsibilities it intends to prioritize over the coming quarter. This will be accompanied by a financial report, detailing each area of expenditure over the past quarter, and forecasting expenditures for the coming quarter. Below, we summarize some of the myriad responsibilities towards which the Foundation is expected to allocate its resources.

Maintain and enhance core Sia software

Arguably, this is the most important responsibility of the Foundation. At the heart of Sia is its consensus algorithm: regardless of other differences, all Sia software must agree upon the content and rules of the blockchain. It is therefore crucial that the algorithm be stewarded by an entity that is accountable to the community, transparent in its decision-making, and has no profit motive or other conflicts of interest.
Accordingly, Sia’s consensus functionality will no longer be directly maintained by Nebulous. Instead, the Foundation will release and maintain an implementation of a "minimal Sia full node," comprising the Sia consensus algorithm and P2P networking code. The source code will be available in a public repository, and signed binaries will be published for each release.
Other parties may use this code to provide alternative full node software. For example, Nebulous may extend the minimal full node with wallet, renter, and host functionality. The source code of any such implementation may be submitted to the Foundation for review. If the code passes review, the Foundation will provide "endorsement signatures" for the commit hash used and for binaries compiled internally by the Foundation. Specifically, these signatures assert that the Foundation believes the software contains no consensus-breaking changes or other modifications to imported Foundation code. Endorsement signatures and Foundation-compiled binaries may be displayed and distributed by the receiving party, along with an appropriate disclaimer.
A minimal full node is not terribly useful on its own; the wallet, renter, host, and other extensions are what make Sia a proper developer platform. Currently, the only implementations of these extensions are maintained by Nebulous. The Foundation will contract Nebulous to ensure that these extensions continue to receive updates and enhancements. Later on, the Foundation intends to develop its own implementations of these extensions and others. As with the minimal node software, these extensions will be open source and available in public repositories for use by any Sia node software.
With the consensus code now managed by the Foundation, the task of implementing and orchestrating hardforks becomes its responsibility as well. When the Foundation determines that a hardfork is necessary (whether through internal discussion or via community petition), a formal proposal will be drafted and submitted for public review, during which arguments for and against the proposal may be submitted to a public repository. During this time, the hardfork code will be implemented, either by Foundation employees or by external contributors working closely with the Foundation. Once the implementation is finished, final arguments will be heard. The Foundation board will then vote whether to accept or reject the proposal, and announce their decision along with appropriate justification. Assuming the proposal was accepted, the Foundation will announce the block height at which the hardfork will activate, and will subsequently release source code and signed binaries that incorporate the hardfork code.
Regardless of the Foundation's decision, it is the community that ultimately determines whether a fork is accepted or rejected – nothing can change that. Foundation node software will never automatically update, so all forks must be explicitly adopted by users. Furthermore, the Foundation will provide replay and wipeout protection for its hard forks, protecting other chains from unintended or malicious reorgs. Similarly, the Foundation will ensure that any file contracts formed prior to a fork activation will continue to be honored on both chains until they expire.
Finally, the Foundation also intends to pursue scalability solutions for the Sia blockchain. In particular, work has already begun on an implementation of Utreexo, which will greatly reduce the space requirements of fully-validating nodes (allowing a full node to be run on a smartphone) while increasing throughput and decreasing initial sync time. A hardfork implementing Utreexo will be submitted to the community as per the process detailed above.
As this is the most important responsibility of the Foundation, it will receive a significant portion of the Foundation’s budget, primarily in the form of developer salaries and contracting agreements.

Support community services

We intend to allocate 25% of the Foundation Fund towards the community. This allocation will be held and disbursed in the form of siacoins, and will pay for grants, bounties, hackathons, and other community-driven endeavours.
Any community-run service, such as a Skynet portal, explorer or web wallet, may apply to have its costs covered by the Foundation. Upon approval, the Foundation will reimburse expenses incurred by the service, subject to the exact terms agreed to. The intent of these grants is not to provide a source of income, but rather to make such services "break even" for their operators, so that members of the community can enrich the Sia ecosystem without worrying about the impact on their own finances.

Ensure easy acquisition and storage of siacoins

Most users will acquire their siacoins via an exchange. The Foundation will provide support to Sia-compatible exchanges, and pursue relevant integrations at its discretion, such as Coinbase's new Rosetta standard. The Foundation may also release DEX software that enables trading cryptocurrencies without the need for a third party. (The Foundation itself will never operate as a money transmitter.)
Increasingly, users are storing their cryptocurrency on hardware wallets. The Foundation will maintain the existing Ledger Nano S integration, and pursue further integrations at its discretion.
Of course, all hardware wallets must be paired with software running on a computer or smartphone, so the Foundation will also develop and/or maintain client-side wallet software, including both full-node wallets and "lite" wallets. Community-operated wallet services, i.e. web wallets, may be funded via grants.
Like core software maintenance, this responsibility will be funded in the form of developer salaries and contracting agreements.

Protect the ecosystem

When it comes to cryptocurrency security, patching software vulnerabilities is table stakes; there are significant legal and social threats that we must be mindful of as well. As such, the Foundation will earmark a portion of its fund to defend the community from legal action. The Foundation will also safeguard the network from 51% attacks and other threats to network security by implementing softforks and/or hardforks where necessary.
The Foundation also intends to assist in the development of a new FOSS software license, and to solicit legal memos on various Sia-related matters, such as hosting in the United States and the EU.
In a broader sense, the establishment of the Foundation makes the ecosystem more robust by transferring core development to a more neutral entity. Thanks to its funding structure, the Foundation will be immune to various forms of pressure that for-profit companies are susceptible to.

Drive adoption of Sia

Although the overriding goal of the Foundation is to make Sia the best platform it can be, all that work will be in vain if no one uses the platform. There are a number of ways the Foundation can promote Sia and get it into the hands of potential users and developers.
In-person conferences are understandably far less popular now, but the Foundation can sponsor and/or participate in virtual conferences. (In-person conferences may be held in the future, permitting circumstances.) Similarly, the Foundation will provide prizes for hackathons, which may be organized by community members, Nebulous, or the Foundation itself. Lastly, partnerships with other companies in the cryptocurrency space—or the cloud storage space—are a great way to increase awareness of Sia. To handle these responsibilities, one of the early priorities of the Foundation will be to hire a marketing director.

Fund Management

The Foundation Fund will be controlled by a multisig address. Each member of the Foundation's board will control one of the signing keys, with the signature threshold to be determined once the final composition of the board is known. (This threshold may also be increased or decreased if the number of board members changes.) Additionally, one timelocked signing key will be controlled by David Vorick. This key will act as a “dead man’s switch,” to be used in the event of an emergency that prevents Foundation board members from reaching the signature threshold. The timelock ensures that this key cannot be used unless the Foundation fails to sign a transaction for several months.
On the 1st of each month, the Foundation will use its keys to transfer all siacoins in the Fund to two new addresses. The first address will be controlled by a high-security hot wallet, and will receive approximately one month's worth of Foundation expenditures. The second address, receiving the remaining siacoins, will be a modified version of the source address: specifically, it will increase the timelock on David Vorick's signing key by one month. Any other changes to the set of signing keys, such as the arrival or departure of board members, will be incorporated into this address as well.
The Foundation Fund is allocated in SC, but many of the Foundation's expenditures must be paid in USD or other fiat currency. Accordingly, the Foundation will convert, at its discretion, a portion of its monthly withdrawals to fiat currency. We expect this conversion to be primarily facilitated by private "OTC" sales to accredited investors. The Foundation currently has no plans to speculate in cryptocurrency or other assets.
Finally, it is important that the Foundation adds value to the Sia platform well in excess of the inflation introduced by the block subsidy. For this reason, the Foundation intends to provably burn, on a quarterly basis, any coins that it cannot allocate towards any justifiable expense. In other words, coins will be burned whenever doing so provides greater value to the platform than any other use. Furthermore, the Foundation will cap its SC treasury at 5% of the total supply, and will cap its USD treasury at 4 years’ worth of predicted expenses.
 
Addendum: Hardfork Timeline
We would like to see this proposal finalized and accepted by the community no later than September 30th. A new version of siad, implementing the hardfork, will be released no later than October 15th. The hardfork will activate at block 293220, which is expected to occur around 12pm EST on January 1st, 2021.
 
Addendum: Inflation specifics
The total supply of siacoins as of January 1st, 2021 will be approximately 45.243 GS. The initial subsidy of 1.57 GS thus increases the supply by 3.47%, and the total annual inflation in 2021 will be at most 10.4% (if zero coins are burned). In 2022, total annual inflation will be at most 6.28%, and will steadily decrease in subsequent years.
 

Conclusion

We see the establishment of the Foundation as an important step in the maturation of the Sia project. It provides the ecosystem with a sustainable source of funding that can be exclusively directed towards achieving Sia's ambitious goals. Compared to other projects with far deeper pockets, Sia has always punched above its weight; once we're on equal footing, there's no telling what we'll be able to achieve.
Nevertheless, we do not propose this change lightly, and have taken pains to ensure that the Foundation will act in accordance with the ideals that this community shares. It will operate transparently, keep inflation to a minimum, and respect the user's fundamental role in decentralized systems. We hope that everyone in the community will consider this proposal carefully, and look forward to a productive discussion.
submitted by lukechampine to siacoin [link] [comments]

[Table] IAmA dark web expert, investigative journalist and true crime author. I’ve met dark web kingpins in far flung prisons and delved the murky depths of child predator forums. I’ve written six books and over a dozen Casefile podcast episodes. AMA (part 2/2)

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Previous thread
Questions Answers
Around here nobody talks about the argument that increased regulation of the internet would help stop child predators. Is that true, and if so where do you fall on the Net Neutrality vs law enforcement spectrum? No I don't think that's true at all. Child predators have been around much longer than the internet, and I would argue child abuse was more prevalent 50+ years ago when children were seen and not heard and it wasn't talked about. The dark web hasn't created more predators, it has just given them a new place to gather and hang out.
The one thing I found really interesting when I was lurking the forums of the child predators was their frustration about how children are now taught from a very young age that certain touching and acts are wrong and that they shouldn't keep certain secrets. It came up over and over again that they could not abuse certain children because they knew those children had someone they would tell. It was pretty clear that education was a child's best defence against getting abused.
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That's so interesting, thanks for the AMA! Can you remember any other thing that a child could do in order to protect himself from being abused? What other characteristics do the abusers hate in potential victims? That seems to be the main one. Kids who speak up and who have close relationships with one or more people they are likely to confide in
What do folks talk about in the child predator forums? Do they like give each other advice on how to improve their craft? Yes, quite literally. The give each other tips on how not to get caught, how to edit out incriminating details in videos, how to drug children, techniques for convincing kids not to tell etc
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Given your insight into how predators operate, do you have any advice for parents on protecting their kids? I'll cut'n'paste a response i gave to someone else about this, because it was something that really stuck out to me:
The one thing I found really interesting when I was lurking the forums of the child predators was their frustration about how children are now taught from a very young age that certain touching and acts are wrong and that they shouldn't keep certain secrets. It came up over and over again that they could not abuse certain children because they knew those children had someone they would tell. It was pretty clear that education was a child's best defence against getting abused. Kids who speak up and who have close relationships with one or more people they are likely to confide in
Has the exponential increase in Bitcoin value affected darknet dealers in any profound way? I can imagine that some drug dealers were sitting on quite a large sum of Bitcoin when the value shot up. Crypto purists hate to admit it, but bitcoin would not be where it is today without Silk Road. It was sitting at less than a dollar when Silk Road began and the markets showed a robust use case for cryptocurrency and as the markets grew, so did the demand for bitcoin. It also provided real-life use data for those who were not interested in drugs but who weren't sure if it had practical application. When SR went down, Bitcoin was at about $650 and it continued to grow as adoption became more mainstream. There are many many stories of drug dealers (and at least one faux-hitman!) who gained most of their wealth not by selling the drugs, but by the growth in value of their bitcoin holdings
Since you have a lot of experience with them online. Do you think pedophiles(not child abusers) should be treated as criminals, or as people suffering from a mental illness? Contact offenders should be treated as criminals, because they are criminals. They have abused or hurt someone. Same with those who support the creation and dissemination of child abuse materials.
Pedophiles who do not act on their urges should be given as much help as humanly possible.
Are there any mysterious or suspicious pages or communities that you haven’t been able to access? Anything that seems especially weird? there are a lot of Russian communities that I can't access, mostly because I don't speak Russian. Some of the more technical hacking communities have entry barriers that I'm not technical enough to score an invite to
How much these bad people really exist out there? Hundreds? Thousands? More? It depends what you mean by bad. If you mean people who use the dark web to buy drugs (who I do not consider bad) then there are many many thousands. There are also thousands of people who deal in stolen information to make money.
Unfortunately there are also thousands of child predators and the dark web has provided a "safe space" for them to come together to share materials and "tips". I hope this is where most of the resources of law enforcement are concentrated
Ehy mine is a rare question: what do you know about art on dark web? I'm talking about the black market made of stolen important pieces from museums, art used as value to money laundry and other criminal affairs I'm an artist and what I know is people don't think too much about the dark side of art and probably they need to open their eyes about I really haven't come across much in the way of that. Some of the markets have an "art" section, but that is mostly blotter art
How accurate are the legends? Any legends in particular? For a lowdown copied from a post I made in another forum:
1Red Rooms  The one that is most persistent is the myth of the "Red Room" - live streaming of torture/rape that ends in the murder of the victim and which people can pay to watch, or even bid to type in commands for the torturer to carry out (highest bid wins!). The most famous was the “ISIS Red Room” pictured above, where people could provide instructions to torture captured terrorists - you can read what happened here.
People have this idea of Hostel with webcams exist all over the dark web, but you just need an invite to get into them. It's ridiculous. They don't exist. They certainly wouldn't exist on Tor. But people are desperate to believe and they always come back with "You can't prove they don't exist, people are crazy, therefore they must exist." Picture my eyes rolling here.
2.Hitman sites
I don't think many people are taken in by the hitmen sites anymore, though the press loves playing up the fact that there are sites offering up hitman services. But every single one of them has turned out to be a scam, especially Besa Mafia, the one that did the most marketing. Again, you can read about it at the same link as above.
3.Exotic animals  People are always asking where they can find markets for exotic animals. Obviously the illegal trade in exotic animals exists, and some communications and transactions may well take place over Tor, but there are no markets like the drug markets where you can go and look at a picture and then put a tiger or ocelot or something into your basket and buy it with bitcoin.
SO WHAT DOES HAPPEN ON THE DARK WEB?
1.People buy and sell drugs.
The drug markets are more busy than ever. You have probably heard of Silk Road, the most famous online drug market that got busted a few years ago and the owner sent to prison for two consecutive life terms? A lot of people thought that was the end of drugs being sold on the dark web. In fact, dark web sales of drugs have tripled since the shutdown of Silk Road.
The reason people buy drugs this way is that for many they offer a safer alternative for people who are going to do drugs anyway. There is no possibility of any violence. The vast majority of the time a buyer knows exactly what they are getting, because of the feedback and rating system. That's not the case in a nightclub, or even friends-of-friends, where you just blindly accept that the pill, powder or tab is what the seller says it is.
2.People buy and sell other illegal things
Mostly they buy and sell stolen credit cards and financial information, fake IDs (though lots of these are scams), personal information, “dumps” of hacked data and fraud-related items. For a long time, a seller was making a fortune selling fake discount coupons that really worked.
3.People access and create childporn  Unlike the other markets, the CP market is generally not for money, but rather they are groups who swap vile images and videos for free. The worst of the worst is called “hurtcore’. Thankfully, most of the people behind the worst sites have been arrested and put in jail.
4.People talk about stuff
There are plenty of sites, forums and chatrooms where people talk about all sorts of things - conspiracies, aliens, weird stuff. They take advantage of the anonymity.
5.People anonymously release information
Whistleblowers use the dark web to release information and make sure their identities won't be compromised. You will find Wikileaks, for example, on the dark web.
6.People surf the web anonymously
The number 1 thing people use the dark web for is just to surf the web completely anonymously. Not everybody wants to be tracked by advertisers.
I have a question: what are the odds of the casual Darkweb drug buyer - not buying mega loads all the time - the occasional purchase - what are the risks of being busted? Kinda figuring pretty low. But you’re the expert. What do you think? Obviously there is always a risk, but the risk is very low. It is rare for personal amounts to be seized. Even if a package is seized, there's usually no resources to follow it up. Many people report simply receiving a letter from Customs saying they have seized what they believe is contraband and the person has a choice of going to claim it or it will be destroyed. Even if LE does knock on the door there is plausible deniability: "I don't know who sent that stuff to me".
So yeah, rare, but it does happen. You might be the unlucky one
How do you find things on the dark web without search engines? There are a lot of entry sites, set up with links to the most popular places. You can generally get a link to one of them by browsing places like reddit. From there it is a matter of checking out different places, people will put links in forums etc.
I also use a Pastebin where people paste sites they have made/found, and a Fresh Onion site, which crawls all the newly-populated .onion addresses
Hi. there!! Thank you for answering questions. Mine is very simple. How do sellers get the drugs to people? Regular mail? That's always puzzled me bc I'd assume USPS, UPS, fedEx or any other mail carrier would catch at least some goods. If people are ordering drugs, particularly in powder form, for personal use, they can be flattened, sealed in MBB (moisture barrier baggies) and sent in a regular business envelope, indistinguishable from billions of other envelopes going through the postal system every day. The chances of a particular package being intercepted is very low.
Some people take the extra precaution of having the person taking delivery of the drugs different to the person/household that is ordering them.
How did you move from being a corporate lawyer to researching and writing about dark web? I was in London, working for one of the most conservative law firms in the world when the Global Financial Crisis hit. I liked the job but it struck me when people were losing their livelihoods that I was working for the bad guys. I'd always wanted to be a writer so when I came back to Australia I quit law and enrolled in a writing course planning to be a novelist, but I discovered I was better at journalism. I first wrote for newspapers here about Silk Road and it grew from there
I've always wanted to check out the dark web, what is a normal day for you look like on there? Can you give me any tips on how to safely surf the dark web? A normal day looks like me sitting at my desk writing things on my computer. When I'm researching a book or a case I venture away from my computer to trials and to interview people (at least I did pre-COVID)
There is nothing inherently unsafe in surfing the dark web. All the usual precautions you take surfing the clearweb apply. Don't visit any child exploitation sites - it will be pretty obvious that's what they are by the names/descriptions before you log in.
It is only when you want to do more than surfing - e.g. buying drugs etc - that you need to do a LOT of homework or you will absolutely get scammed
Is there anything good about the dark web? It depends what you are into. A lot of academic research has concluded that the darknet markets provide a safer way for people to buy and use drugs, due to the ratings of vendors, services that independently test and report back on batches of drugs, doctor on staff ready to answer questions, no violence in transactions etc.
News sites provide a dark web option so that whistleblowers can safety provide information and upload documents that get stripped of any identifying metadata before being available.
It bypasses firewalls and allows for secure communications under hostile regimes
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How does this make you feel about the idea of the decriminalization of drugs? I've always been for full legalization of drugs, and studying the darknet markets just proved I was right.
I was invited to an experts roundtable in Portugal about drugs and cybercrime a few years ago and the Portugal model of decriminalisation has been a great success
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Hey, you are still answering. Been reading this thread for 1-2 hours now. Thank you so much for all the good work and info! Always been intrigued by this topic, downloaded tor once to explore a bit but couldn’t and deleted it right away, to be on the safer side. Great insights. Thanks! I've been writing it for about 14 hours. Going a bit loopy
How was working on Casefile? What's the production process like? Which episodes did u do?? I have listened to... all of them.... I absolutely LOVE working for Casefile. I am a freelancer, so I source and write my own cases and then sell the scripts to Casefile. I've done at least a dozen, but some of my most popular are Amy Allwine, Mark & John, Ella Tundra, Leigh Leigh, Rebecca Schaeffer...
As for the production process, once I have sold the script to them, a staff member edits them and then they are passed on to Casey to narrate. After that, they go to Mike for sound editing, music etc. They are the best team ever
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Oh, Leigh Leigh was so well written!! How do you choose which stories to write? Do you just pick true crime you're interested in? Thank you! I have a huge list of potential episodes. Any time I come across an interesting crime on reddit, or in the news or wherever I make a note of it. Then I just pick one when it comes time to write a new script.
Sometimes I've been personally involved (e.g. Amy Allwine), gone to trials etc. Those are always the best ones
Hi Eiley, your twitter just reminded me of this AMA :) What are your thoughts on bitcoin? And would you prefer to be paid in crypto or fiat? OOOOH, I know that name! Love & Light to you!
I like Bitcoin and I wish I had a whole lot of it and like many many people, I wish I had kept the first crypto I bought at something like $4 a coin :D I do not have a whole lot of it but I do have a little bit. I like the philosophy behind it and in theory it should change the world. However the reality is that the vast majority of it is concentrated in a very few hands which allows for market manipulation and stops it being useful as a post-fiat currency.
As long as I'm getting paid, I'm pretty happy!
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I too remember your name Pluto! Such a decent human ❤ he is!! True OG right there <3
Is the dark web subject to more racism than its counterpart, the world wide web? There are some white power sites and that sort of thing and the chans are even more uncensored than the clearweb ones (4chan, 8chan) but to be honest they are the same cesspools in different spots. Drug forums don't seem to be very racist. I've seen worse on Twitter
Have you seen any consequential political or social organizing being carried out on the dark web? Not directly, but the dark web helped facilitate the Arab Spring uprising in 2010 by allowing activists to remain anonymous and to access blocked websites and social media. Wikileaks, obviously. Some white supremacy organizations seem to use it to coordinate attacks, but they are not places I'm keen to hang out in.
What’s the most expensive thing for sale you’ve seen on the dark web? What was surprisingly inexpensive? I can't remember specific listings, but there were sometimes sales of things like coke by the kilo, so that sort of thing I guess.
LSD could easily be found for $1/tab and one huge dealer gave it away for free if it was for personal use
the below has been split into separate questions
1. I’m going to ask a couple in hopes that one will catch your interest! I know you’re anonymous on the dark web, but even so, have you ever felt worried about your safety? I actually made the decision to be upfront and honest about who I am on the dark web, so I use the name OzFreelancer (which is easily traceable to my real name) on all the dark web sites where i went looking for interviews. The people there had the option of talking to me or not, so they had no reason to want to harm me.
2. I’ve found your comments about your relationship with Yura fascinating. Did y’all develop a friendship? Did you build any other relationships that stand out in your mind? Since you were straightforward about being on the dark web for stories, did people seem reluctant to communicate, or were they excited for the opportunity to divulge a secret? We do have a friendship of sorts, it is really quite weird. I do hope to met him one day. I met all of the senior staff of Silk Road other than the Dread Pirate Roberts himself and keep in touch with some. Some people wanted nothing to do with me of course, but many more were happy to talk to me. i think sometimes it was a relief to them to be able to talk to one person who they knew was who they said they were.
3. On violent forums, did users ever express remorse, guilt, shame, or anything indicative of some recognition that what they were viewing/seeking was awful? Do you see doxxing teams on the dark web working together to uncover info, or is the info already there through previous hacks/breaches, and someone just accesses and releases it? Sorry if any of those don’t make sense! I’m not familiar with the dark web lingo but am so intrigued by your work. Not really. I think if they were contributing to the forums, they were comfortable with who they were and what they were doing. Many of the "regular" pedophiles expressed revulsion about Lux and hurtcore sites though
these have probably been asked before but has there ever been a time where you where genuinely been scared for your life and whats the most messed up thing you've witnessed did you have any help? Yeah both things have been answered in this thread, so I'll cut'n'paste
The only time I've felt even slightly in danger despite all this nosing around in there was when I helped uncover a hitman scam. The owner of Besa Mafia, the most profitable murder-for-hire site in history, came after me when I started writing about him. He made loads of threats ("you don't know who I am, but I know who you are and where you live") but that wasnt scary, as I had access to the backdoor of his site thanks to a friendly hacker and knew he didn't really want to hurt anybody.
It took a bit of a darker turn when he told the people who had signed up to work as hitmen on his site - and who he made video themselves burning cars with signs on them to advertise how legit his site was, then never sent them the promised money for doing so - that I was the owner of the site who had ripped them off. That could have become ugly, but luckily even the thugs weren't dumb enough to believe him.
The only other time I've been a bit nervous was when Homeland Security wanted to have a "friendly" meeting with me on one of my trips to the US to attend a trial. They were friendly, but scary too.
The most frightening experience I've ever had is coming face to face with Lux, the owner of Pedoempire and Hurt2theCore, the most evil and reviled person on the entire dark web. He was responsible for procuring and hosting Daisy's Destruction, the most repulsive video ever made, created by Peter Scully, whose crimes were so bad, the Philippines are considering reinstating the death penalty especially for him.
It wasn't frightening because Lux was frightening - he was anything but. It was frightening because he looked so inoffensive and normal.
It was frightening because he was living proof that monsters walk among us and we never know.
[deleted] It is absolute crap for browsing the clearweb, and a lot of sites detect that it is odd traffic and you have to solve their CAPTCHAs before doing the most basic things
I’m sure you’ve seen some really bad stuff, do you regularly talk to a therapist to help? I've never seen a therapist (they don't really seem to be a thing in Australia they way they are in the US), but I have been known to unload on my partner and my dog
the below is a reply to the question
Yo, speaking as an Aussie, they absolutely are a thing, you can get them covered thru medicare, and I recommend it if you possibly can! Bro, therapy is awesome. I'm not against therapy as a thing, but I've honestly never been so traumatised that I feel I need it. Also I had a bad experience with a psychologist after I watched my partner die in an accident - they suggested I find God, and I noped out of there
the below is another reply to the answer
Therapist is an American term- we call them psychs. And the one who told you to find God was terrible and out of line. Yeah she didn't last long before I was over it. Also a doctor decided I needed Xanax, which was also a bad move, because what I really needed was to grieve and Xanax doesn't let you do that properly
Do you find any good things on the dark web? Happy stuff that gives people hope? Or just the trash? I like the psychonaut communities. They just want peace, love and mungbeans for everybody
Have you heard of "The Primarch System" rumor of the dark web? Sounds downright silly to me. But I'm curious if anyone who spends time on the deep web actually takes it seriously, or if as an idea it is connected to anything serious at all. Nah, up there with the Shadow Web and Mariana's Web. There's always people who want to find out where the "deeper" "more secret" "really dark" stuff is. To them I say what, hurtcore isn't dark enough for you?
Doesn't delving the murky depths of child predator forums categorize you with the child predators in the eyes of an investigating law enforcement agency? Do you have some sort of amnesty due to your journalism, or is that something you worry about having to explain away? Has your presence there ever caused some sort of a scare? No, I never went into any of the sites that had actual photos or videos (you can't un-see that shit), but did spend a lot of time in pedophile discussion forums. I also went to a hurtcore hearing and saw screenshots in the police files, as well as listening for two days to videos being described frame-by-frame and private communications between the site owner and the sadists.
Besides drugs and sex crimes, what else is going on in the dark web? Are there other interesting nooks and crannies? I often post screenshots of bizarre sites I find on my Twitter. However, the main uses for the dark web are drugs, digital/fraud goods and child exploitation
I have one, it might be rather boring though, but here goes. On these "child predator forums" are they actually forums devoted to stalking children and do they share social media profiles of children among themselves? That would be kik ids, snapchat and facebook ids, instagram, stuff like that, info that would allow online access and that may have been chosen for suitability? Creepy question I know, but anyway I would be interested to hear your answer. I came here from TrueCrime, you referred to these things in your post on that sub. I suspect I already know the answer yet would like to hear your take on it. Yes, they provide information and tips on how to approach children, how to ensure they won't tell, how to sedate them in some instances, where to find child exploitation material, how to remove metadata and any identifying characteristics in photos and videos before sharing and so on.
They don't tend to share socia media, as that is the sort of thing that can be traced easily. They do talk about how to approach kids on social media and on the worst forums how to blackmail children into stripping/meeting etc
the below is a reply to the above
So you're saying they have a more general approach rather than identifying individual children on the internet? Again a creepy question because what I suggest is that a child's social media could be used and circulated on the dark web as potential information to gain access by anonymity, even if it was just online access only. I actually wonder as I have recently read of the anonymity of apps like ''kik messenger'' and how the police are often unable to get any information from the communications as they remain encrypted and off the server and require little if any valid ID to make an account. No doubt photos from social media are uploaded as part of the materials they have. I haven't seen anything where they get together and try to track down a specific child, but I'm sure some predators do this. Most are more likely to abuse children in their orbit - family, kids of friends, or they work where they have access to children
I heard there are forums to download books but it was really dangerous, Is it true? I'm just a poor guy who wants to finish the young Jack sparrow series Whenever you download anything from a pirate site you run the risk of infection
What do you think of QAnon? Wackjob conspiracy
the below is a reply to the above
Who should the conspiracy theorists actually be worried about if they actually care about thwarting pedophilia? The vast, vast majority of child abuse takes place within the child's personal orbit - relatives, family friends, parents of their own friends, people involved in their activities (coaches, leaders, etc)
So, those people
the below is another reply to the answer
Also how to we get people to stop believing in QAnon? Outside my area of expertise, sorry
do you personally believe there was/is any truth to the "defense" (story) that DPR was a title handed down to different admins for the original silk road, or was it just a convenient defense? do you have any theories as to who satoshi nakamoto is? besides the original SR, are there any other darkweb markets that you think have a good enough story to turn into a book? eg sheep market? i've seen you talk a little about the child predator forums, and (as with h2tc) noted are mainly populated by males. i'm curious if you've ever encountered females on such forums/websites (eg. btfk) No. There was a time that I believed the person posting on the forums as DPR changed, but the ownership and administration of the market I believe never changed hands. Variety Jones is claiming a part ownership (which may or may not be true) but I believe that is so he can run a Fourth Amendment argument
So many theories have some credibility to them, but no one theory ticks all the boxes. Highly recommend the 3-part youtube deep dive by Barely Sociable
I'm not sure any one market has the story that Silk Road had, but I would like to write a definitive history that encompasses the most compelling features of all the markets. Backopy of BMR apparently got away clean. The admins of Atlantis got wind of a security issue and closed shop, trying to warn DPR. AlphaBay ended in Alexander Cazes death in a Bangkok prison cell. Then everyone flocked to Hansa, which by that time was being run by law enforcement. Evolution ended in the most brazen exit scam, followed by a bizarre cloak'n'dagger situation played out right here on reddit. The WSM/DDW follow-the-money case. And these are just some that come right off the top of my head. I just need a publisher to provide me an advance I can live off while I write it!
There were a very few people on the forums who identified as female (obvs anyone can be anyone on a dark web forum) and there have been one or two arrests of women in relation to dark web child pornography. Peter Scully's female assistant who carried out some of the torture was originally one of his victims, turned into a sadist.
What’s the one lingering unanswered question you have about SR? I am hanging out for Joel Ellingson to go to trial so that I can find out once and for all whether redandwhite, lucydrop and Tony76 are one and the same person.
There are several people who I got to "know" by their handles who I wonder about from time to time, but mostly I hope they are safe and well and i don't want to track them down or expose them
the below is a reply to the above
Eileen, I am fangirling PRE-TTY hard right now. Talking SR and Tony76 with you is how I imagine it feels to talk to a royal correspondent about Prince Andrew 😅 Ellingson being all three would be a very neat end to an otherwise insane story. Part of me wants to pin Oracle in with that trio too but that’s mostly a desperate attempt from me to add another layer to the madness. I miss the twists and turns that came with the rise and fall of SR. From your own experience - would you agree with the idea that more than one person staffed the DPR account? Thanks for the reply! Ha! You have no idea what it is like when I find someone who really knows about this stuff and can have informed conversations about it. I latch onto them and don't let go. The very BEST was meeting up with DPR's three deputies (SSBD in Australia, Inigo in US and Libertas in Ireland) so I could actually have conversations with people who knew more than I did! Variety Jones was cool too, but the conversation couldn't flow too freely thanks to him being incarcerated in Bangkok prison at the time.
I think others sometimes posted from the forum account, but Ulbricht kept a vice-like grip on his market account
the below is a reply to the above
I can imagine it’s so satisfying and exciting to get those tidbits of info that piece the jigsaw together. The bedlam that played out over the forum in the aftermath was a cloud of paranoia and adrenaline that kept me refreshing pages for days. Would love to hear accounts from SSBD, Inigo and Libertas from this time. One last question: what were your thoughts when the Chloe Ayling story first broke? I assumed it was a publicity stunt. I don't think that any more. I guess I can't blame her for milking her kidnapping for publicity in the aftermath, though I don't think she does herself any favors the way she goes about it sometimes
Sorry if this has been covered before but in your research, mainly related to child abuse, where are these children coming from? Children in their care/ family? Kidnapped? The vast majority of child abuse is carried out by someone within their social circle - family and acquaintances. However, the hurtcore stuff was often carried out in third world countries on orphans or where desperate families gave up their children to "benefactors" who they believed were going to provide food an education
What Casefile episodes have you written? I became obsessed with it and ripped through all the episodes and now nothing will fill that void. Thanks for your efforts! Casefile – the murder of Amy Allwine
Casefile – Blue Skies, Black Death
Casefile – Ella Tundra
Casefile – Dnepropetrovsk Maniacs
Casefile – Motown Murders
Casefile – Rebecca Schaeffer
Casefile – Sian Kingi
Casefile – John & Mark
Casefile – Shauna Howe
Casefile – Chloe Ayling
Casefile – Johnny Altinger
Casefile – Killer Petey
Casefile – The Santa Claus Bank Robbery
Casefile – Martha Puebla
Casefile – Leigh Leigh
Is there any way parents can keep their kids safe from this without being helicopter parents? I'll cut'n'paste a response i gave to someone else about this, because it was something that really stuck out to me:
The one thing I found really interesting when I was lurking the forums of the child predators was their frustration about how children are now taught from a very young age that certain touching and acts are wrong and that they shouldn't keep certain secrets. It came up over and over again that they could not abuse certain children because they knew those children had someone they would tell. It was pretty clear that education was a child's best defence against getting abused. Kids who speak up and who have close relationships with one or more people they are likely to confide in
What does it take in terms of degrees and experience to get into this business? Nothing official. I was a lawyer, but that had no bearing on what I do now (I did corporate law). I didn't have any official credentials when I began as a freelance journalist, though later I got a diploma of professional writing and editing. Anyone can be an author, provided they can write
If you could take a guess from your findings, what would be some speculative statistics on these abuse/torture sites? How many people (tens of thousands?) are involved? Do they generally come from the same places in the world or are they seemingly geographically random (based on victim ethnicity, or language spoken, perhaps)... what are some quantifying stats to wrap our heads around how prevalent this shit is? Most dark web users come from western countries, just because infrastructure supports it. The sites often have tens of thousands of registered users, but a lot of them would be people for whom curiosity got the better of them and who signed up then left. Active users more like in the thousands, hyper-active users the hundreds.
One of the things that makes life difficult for law enforcement is that most of these sites don't operate on a commercial basis - people aren't making money from them, so there is no cryptocurrency chain to follow. They operate on a sharing basis and to get access to the more private parts of the sites, a user has to upload "fresh" material and/or prove they are actively abusing a child. Hurt2theCore used to get users to have the children hold up signs or have the site name or a username written on their bodies with a marker. This stopped law enforcement from getting access to those parts (like the "producers lounge") of the sites unless they were able to take over an account of a user who already had access. Even then, the rules of the hurtcore sites would require constant new proof in order to maintain access.
Some sites allowed people to buy access, such as one called "Welcome to Video" and then were taken down by law enforcement carrying out blockchain analysis of the Bitcoin transaction that led to the owner when they cashed out to fiat without moneylaundering precautions
the below is a reply to the above
Do you think LE uses deep fakes to simulate a picture to gain access? Is that possible? It is definitely possible, but I don't know whether they are doing it as they are understandably secretive about their methods. I know it is deeply problematic, as even fake child porn is still illegal (even cartoon stuff, including some Hentai in some countries). But they have used questionable methods before, most notably running the dark web's largest site, Playpen, for over a year in order to identify contact offenders
the below is another reply to the original answer
Am I hearing you that many people are NOT doing this for financial gain? Just to do it and share it?? Child exploitation, yes, it is mostly a sharing community. Some people make some money out of it, but it is not like drugs where a lot of people are making a LOT of money
On the subject of abused kids... did you ever help the kids in any way? I never met any of the kids. I never saw any of the photos and videos. I don't know who any of the kids are.
Daisy has been taken into care and her identity changed. I hope she is doing okay
What exactly does the dark web look like? You hear about it often, but don’t know if it looks like Google Chrome, Safari, or just a page full of code. It looks like a normal browser and operates just like a normal browser. It's just that it can access sites that your normal browser can't.
e.g. http://thehub5himseelprs44xzgfrb4obgujkqwy5tzbsh5yttebqhaau23yd.onion/index.php is the URL of a dark web forum. If you plug it into your normal browser you will get an error. If you plug it into the Tor browser you will get the registration page for The Hub
How do you keep yourself from hating all humanity? I am happy to report that, even on the dark web, the good people outnumber the bad
Hi! First off I'd like to say that I find what you do quite fascinating and would love to do something like that in the future. My question is in regards to art and other forms of artistic expression on the dark web. Is it true that the dark web is a place where you can also find awesome things such as art and literature? Not really, because all that stuff is readily available on the clearweb. There are sites like the Imperial Library of Trantor, which is a pirate site for books, where you can read thousands of books for free, but that's really no different to The Pirate Bay. Some people share their LSD art, but again, nothing you won't find on the clearweb
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FS [Nordics /UK/EU ] Chanel wallet, Cartier Amulette necklace, Cartier Panthère Secrete watch, Valentino caged rockstud flats sz 39, Gucci Dog Ace Sneakers sz 39

EU ladies, avoid custom fees and the risk of having your item seized. Buy a lovely rep in the EU with shipping covered.
Like many RepLadies, when I first found out about reps I went a bit overboard :-D. Now I have gone through my items and here are the pieces that are either the wrong size or I don’t need (haha). Hopefully you will find something here that will spark joy in your heart :) I am happy to send more pics or answer any questions!
Shipping is included in the item prices below, and I am happy to ship anywhere within EU / Nordics / UK. To avoid any potential issues, I'll be checking all prospective buyers accounts karma and to make sure they're active on RL.
Family pic with Username: https://imgur.com/gallery/FEEyKKy

SOLD Panthère Secrete Ladies 27mm RG 8848F 1:1 Best Edition White Dial on Black Croco Strap Ronda Quartz

I was super keen to try see the quality from intime as they have a great reputation on RepTime. This is a great watch, however I feel like it doesn’t suit my style and I still prefer my auth Rolex Ladyjust 28mm :-D. So I am selling this! It’s brand new and I haven’t even tried it on, as I just felt that I wouldn’t use it when I first got it. It still has all of the stickers on the watch.

** SOLD Valentino Caged Rockstud Flats Noir sz 39** Will fit a small 39 / 38.5.

I am just so sad that these don’t fit me! After I had my baby my feet are just a tad too big for 39’s and I am a bit devastated as these are a pair of dream shoes. I will be placing an order for another pair in sz 40 once these are sold, as I love the colorway and quality!

SOLD Gucci Ace Dog sneakers sz 39 Will fit a small 39 /38.5

Another pair I am just so sad I can’t fit properly! I will be repurchasing these in a sz 40 as well. I just love that they have dogs on them, and I fell in love when my friend was wearing the auth last year and just had to have them… but then of course, it was a 2018 collection and couldn’t find them.

Chanel Flap Wallet Black Grained Calfskin Small

Source: Bought this from fellow replady /Unsustainable who has bought it from physical replica market in China (You can check out her profile, she is selling a load of stuff right now). The original post has been removed by her, however I do still have the link to the images and can share a screenshot if needed confirming the purchase.

Amulette De Cartier Necklace XS Model - Malachite - 18kt gold plated

All sales are final so please choose carefully and ask me any questions before making a purchase.
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[Table] IAmA dark web expert, investigative journalist and true crime author. I’ve met dark web kingpins in far flung prisons and delved the murky depths of child predator forums. I’ve written six books and over a dozen Casefile podcast episodes. AMA (part 1/2)

Source | Guestbook
Note: Some answers were repetitive, but were not edited out.
Questions Answers
Have you ever gotten into legal trouble by exploring the dark places of the internet? Like, "sorry, officer, I was only surfing drug markets and child molester forums for my next journalism piece..." Do you worry about that? Do you have to take extra steps to protect yourself? I'm very careful not to go anywhere that it is illegal to visit. You will hear loads of stories about how easy it is to "stumble upon" child porn, but the fact is that those sites usually have names like "Preteen cuties" so you know exactly what they are, and in order to access them you have to register. So you have to make a very deliberate choice to log into them. I have no interest whatsoever in viewing any child abuse material, so I don't go into those places. When I was researching The Darkest Web, I went to the discussion forums that didn't allow any images (though they did link to sites that did), and even there I turned off images.
As for the drugs, weapons etc, there is nothing illegal about surfing them and looking around.
I do get a bit nervous every time I visit the US, especially when I was invited to a "friendly" lunch with Homeland Security once (it was reasonably friendly as it turns out, it was also terrifying)
the below is a reply to the above
Why did homeland security want to talk to you? They said it was about the murder-for-hire stuff, but some of the questions leaned toward something else
Is there anything that really concerns you about the dark web? Some of the things already discussed are beyond barbaric and that is only the stuff that has been found out about and been picked up by the media and your fantastic work. Do you think the public should expect worse and more horrific revelations from the dark web or is it just "more of the same" for lack of a better term and do you think the authorities are getting better in shutting this inhumanity down and catching the people responsible? I am definitely not against people taking back their online privacy and I actually think that buying drugs from the darknet markets is a safer and more sensible option than buying them from the dodgy dealer down the road. However the one thing that is really disturbing is that the dark web has provided a place for child predators to find each other and form communities where they support and egg each other on. Imagine a few years ago, someone who was into hurtcore could never tell anyone else and would be unlikely to ever come across another person with the same perversions. Now it is as simple as finding the relevant site on the dark web. When there are suddenly hundreds of people who all think and act in the same way, it normlalizes what they are doing.
One of the guys who got caught, Matthew Falder, was a sadist who used to crowdsource "ideas" for torturing the children and teens he was blackmailing into doing heinous things for him online. But apparently he was a "normal" intelligent popular guy
the below is a reply to the above
But how does everyone participate in those illegal sites without getting caught? You said in other comments that you tried to stay away from underaged sites because they were illegal. Can't they be tracked down, even with tor and a vpn? The thing that I don't understand is that even on the dark web people say you should stay away from illegal sites, but how are pedos not getting caught? they are getting caught, but the way they are getting caught is through painstaking detective work, looking for clues in photos, befriending them online and getting them to reveal things about themselves (what is known as social engineering). It takes a long time and many resources.
I say don't go there because (a) it is illegal and (b) you really shouldn't want to go there
Iirc you attended the trial of the person behind the horrific hurt core website that was exposed a few years back. I was wondering if there was anything in particular that happened during the trial that particularly shocked or horrified you that isn't really public knowledge or talked about? Reactions from the judge or perpetrator during the trial etc. As I remember it the guy was a fairly young loner who lived with his parents but would probably never have been expected to be behind the horrific vile things which he was found to be. Also, how did you get into investigative journalism/writing? I wrote in one of the other replies above about the little mute girl that has stayed with me. Also, at the insistence of the prosecution, the judge had to watch "Daisy's Destruction" which was a video of torture of a toddler. He put it off for two days and when he came back he was white. He didn't have the sound on, which is considered the worst part, but he still looked shell-shocked. I don't envy him.
I'll cut'n'paste re your last question: I was in London, working for one of the most conservative law firms in the world when the Global Financial Crisis hit. I liked the job but it struck me when people were losing their livelihoods that I was working for the bad guys. I'd always wanted to be a writer so when I came back to Australia I quit law and enrolled in a writing course planning to be a novelist, but I discovered I was better at journalism. I first wrote for newspapers here about Silk Road and it grew from there
the below is a reply to the above
Thanks for the reply.. that really must've been horrific for all involved from investigation to trial and for all of the victims (apart from the scum responsible of course). I guess it would be naive to assume that the end of this site did anything other than drive this depraved community even further underground. That is the part which is really scary to me but I suppose all we can do is have faith that the authorities are always close on the tail. Thank you for your work on reporting on this and raising this stuff more into the public consciousness and making people more aware of what kind of evil still lurks. It was the most disturbing two days of my life, made all the worse because they read out hours of interactions from the site where the children still had not been identified or the predators caught.
Hurt2theCore was not the last site of its kind and there are still hurtcore sites to this day on the dark web. The one hopeful thing is that there are international task forces that seem to work together really well (unlike when it comes to drugs and every law enforcement agency wants to take the lead and they all withhold info from each other). There are a lot of resources allocated to identifying predators and their victims. Sometimes this has involved some very controversial tactics, such as taking over the sites and letting them run, so that they can use social engineering techniques to identify those who are using the sites and who are actually abusing children
the below is another reply to the original answer
So daisy's destruction is real? Was it referred to by that name court? I always thought it was a myth Yes, Daisy's Destruction is real, it was referred to by name in court and the judge had to watch the 12 minutes of it that were hosted on Hurt2theCore.
The "myth" part is that it shows a murder. The toddler, Daisy, lived, though she suffered such horrific injuries she will never be able to bear children. Hopefully she was young enough that she will grow up without the memory.
However, Scully did murder at least one child, whose body was found under the floorboards of his house. it is not known whether he filmed her murder as no video evidence of it has come to light.
the below is a reply to the above
Thanks for answering. I actually watched a really good video on Hurt2theCore on youtube once, I think it was by a guy called Nexpo. It was really detailed and informative about the whole case - I forgot those details. Thanks again for replying, this AMA is really informative! I think I recall that one, it was from a few years ago.
An excellent podcast that came out recently is "Hunting Warhead", highly recommend a listen. It is a tough listen, but exceptionally well-told and respectfully handled
How do you detach yourself from your work? I'm an investigator for a law firm and I've had a lot of difficult working on wrongful death cases recently. Also, how did you first end up getting published? Any tips for people interested in that field? Thanks! I don't detach. When I was researching hurtcore, it was harrowing and affected me deeply. Writing that part of the book was a very slow process because I just couldn't be in that headspace for very long at a time. Once the book was written I didn't go back there.
I already had a reputation as a blogger and a freelance journalist when i pitched my book on Silk Road. I got an agent and it was auctioned off, with Pan MacMillan getting the rights. At the time, Silk Road was still going strong, and the book I wrote was about this new frontier of drug dealing that was changing the world. I was writing it "from the inside" as I had been an active part of the community for two years. However, right as I submitted the final manuscript to my publisher, Silk Road was busted and Ross Ulbricht arrested, so i had to quickly change the narrative to a "Rise and Fall" thing!
How many times have you approached law enforcement with information and how many times has the approach resulted in action? and... are there times where you know something nefarious is happening but history and the evidence at hand tells you it's not worth the effort? There is no point in approaching law enforcement to say "I have come across this site". If I've found it, you can guarantee law enforcement has found it as well.
The only time I've approached law enforcement was when I had information that they did not, which was when a friendly hacker provided me with a back door into the Besa Mafia murder-for-hire site. I got to see all the messages and orders etc. Of course LE knew about the site, but they did not have the details of the people who had hits taken out on them. We tried desperately to tell police in several countries that real people had paid real money to have other real people killed, but they just weren't interested. We sounded like crazy people talking about dark web hitmen, who were scams anyway and nobody was dead, so why should they be interested? They became much more engaged when one of the people WE HAD PREVIOUSLY TOLD THEM ABOUT later turned up dead
the below is a reply to the above
By law enforcement, do you mean only local or else the big agencies? I feel like I wouldn't tell my local police department because they wouldn't really know what to do. It would have to the the bigger agencies. FBI in US. NCA in UK. AFP in Australia. Nobody was very interested, although the FBI did visit at least one of the targets to let her know she was a target. She still wound up dead
What are some of the most prevalent uses of the dark web that AREN'T all shady and nefarious? We might be getting into semantics here, but people use Tor, which is the most possible darknet that is used to access the dark web, just for private browsing and ensuring that commercial interests aren't following them everywhere to bombard them with ads for some thing they looked up.
Some of the news organizations have a dark web presence so that whistleblowers can upload information safely. Even the CIA has a site on the dark web so that people can anonymously tip off matters of national security.
Other than that, there are just forums, where you don't have to worry that every single stupid thing you post will be saved in posterity forever, to be trotted out years later when you run for congress or something
After everything you've seen, does anything surprise you anymore or are you just numb to it at this point? Do you think there should be more education/exposure about the dark web than there is now or would that just be counter-productive as people would just find another place to hide? I'm curious to hear any favourite stories about the Psychonauts. I am not numb and I hope I never become numb. I really don't visit the horrible dark places very often, unless I'm researching something specific, and even then I don't look at pictures or videos. Most of the crime is pretty benign - I'm not fazed by people wanting a safer way to buy drugs.
I think there needs to be ongoing discussions about online activity and its misuse in general, but most crime still happens on the clearnet. The dark web is not nearly as large or prevalent as people fear.
For a long time, a dealer provided free LSD to anyone who wanted it for personal use (ie not sale) and to any organizations who were doing psychedelic therapy.
One psychonaut got busted and spent time in prison... only he still had bitcoin in a wallet and by the time he was released he was a millionaire. He would have just spent it on drugs otherwise :)
I know law enforcement has to delve into the predator side of the dark web. With what you've seen do you think it should be mandatory or an industry standard that law enforcement officials seek professional help? I couldn't imagine investigating that daily and not thinking less of humanity at some point. I'm pretty sure they do. I worked for Legal Aid for a while, and i know there were pretty strict rules in place for the lawyers who had to defend child abusers.
When I was at the trial for Lux, owner of Hurt2theCore, I met a cop whose job it was to watch all the videos and befriend the predators in an attempt to get them to slip up and reveal something of themselves. She said she had a little filing cabinet in her brain where she put all that stuff, and that making an arrest made it all worthwhile. She had made several arrests personally. She was a sex offender's worst nightmare :)
What’s one of your personal favorite investigations and what made it unique for you? By far the Besa Mafia murder-for-hire case. What made it unique was that, first, I was provided a back door into the Besa Mafia site by a friendly hacker, so i had information that nobody else had. But then I became "friends" for want of a better word with the owner of the site, Yura. Besa Mafia, of course, was not killing anyone, but Yura made a LOT of money scamming would-be murderers out of their money. We entered into a weird relationship over the years where i would report on his activities and he would try every trick under the sun to stop me from doing so, so that he could keep scamming people. He even offered me a job, helping him, because he had become so busy. He also provided me with names and details of people who had hits taken out on them so I could pass them on to law enforcement.
It all became horribly real when one of the people who had a hit put out of them wound up dead. It wasn't Yura of course, but the guy had paid him $13K before giving up on the site and doing it himself. The thing was WE HAD TOLD THE FBI about the hit and the $13K and they visited the victim, but then put it into the too-hard basket when she couldn't think who might have paid that much to kill her.
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Wow. That’s actually pretty cool. Reminds me of an old saying. “Keep your friends close, but your enemies closer.” It's a seriously bizarre relationship. When I was hired as a consultant by CBS for a 48 Hours expose on dark web hitmen, he actually agreed to meet me in London. But he thought that CBS was going to advertise his site as the real deal and he got excited and sent them details of two people who had hits put out on them. CBS sent them straight to the police and very shortly after two arrests were made and it was all over the news, where they called his site a scam. Yura got so pissed about it, he never turned up to our meeting. They had even hired an Academy Award-nominated master of disguise makeup artist to disguise him!
are "red rooms" actually a prevalent thing, or just a widespread misconception or rumor? I ask in part because it's very easy to see, for instance, Mexican cartels dismembering people alive, etc, just on the clearnet. Hell, a couple days ago I saw a video posted of a cartel member cutting out a dude's heart while the guy was alive, and he ATE it. He fucking ATE it. So it seems plausible... The most popular myth of all is Red Rooms, where people – usually women – are tortured to death live on camera while those who have paid to watch type in torture commands in a chat box. Think the movie Hostel, with webcams. In this sense these have never been proven to exist. I get where you are coming from with the cartels, and the recent news item where they found those shipping containers set up with torture rooms freaked me out and made me wonder!
There is some truth to this rumour, but the execution is not like you see in the movies. Most notably, because it involves children, not adults abused on demand for paying pedophiles, but not to the point of death
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The news about those shipping containers really made me speculate, since for every one person who gets caught doing something evil, there must be at least several more people who are very honed in their 'profession' doing the same evil deeds and worse, yet who evade being captured for decades. Anyway, based on morbid things I've seen, karma comes around eventually... I know, right? It really freaked me out, and then when I read that they already had intended victims for them but the police got to them first and put them in protected custody.. IMAGINE SEEING THOSE PICTURES AND KNOWING YOU WERE SUPPOSED TO BE IN THEM!! I would retire to a deserted island somewhere
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Your line of work could easily result in something like C-PTSD down the road a little ways. I have a morbid curiosity, and have seen worse than those shipping containers had to offer. I'm sure you have as well. So one more question from you, if you don't mind: what are some proactive approaches to mental health you take to safeguard your sanity? A lot of wine. Cuddle my dog
Hi, there! This has been fascinating to read; thank you so much for sharing! I'm curious: why do you think so many people who don't want to engage with disgusting and illegal content like hurtcore find it so interesting to read about? Do you have any insight into your readership and the ethics associated with reading about these kind of topics? I think morbid fascination with the dark is exceedingly common - just look at how many people can't get enough about serial killers! In some ways it is probably a self-defense mechanism - the vast majority of true-crime readers are women. People like to be armed with knowledge. We also like to be spooked and scared.
As for my books, I don't really go into much gory detail, but the horror still shines through
Out of all 9-5 jobs out there, why this? What’s your motive? I got disenchanted by being a lawyer and I had wanted to be an author since childhood. The lawyering put me in a strong enough financial position that I could quit to do a uni course for a couple of years. My plan was to become a best-selling novelist, but my first chick-lit novel was nothing special. However, during the course, I found I did really well at journalism and was soon making a living as a freelance journo before I finished the course. My first major feature was on the Silk Road drugs market, which I had discovered thanks to a friend who was using it. Once I got in there I became fascinated by everything about it and started contacting the owner, users, vendors etc asking for stories (I was upfront about who I was). I began the first serious dark web blog - allthingsvice.com - and also became the go-to freelancer for Australian dark web stories. Then I pitched my first book and got a healthy advance for it.
I like working for myself, working from home and delving into things. Right now I have my dream job (though it wouldn't hurt to pay a bit more. I'm certainly not making anywhere near what I used to make lawyering, but I make enough to get by and I live pretty simply)
Did you ever do any writing on Brian Farrell and his role in Silk Road 2.0? I was Brian's cellmate for all of 2017 at Sheridan Federal Prison and heard all of his crazy stories. Was just curious as to the validity of them all. DoctorClu! I did write briefly about him in Silk Road, but it wasn't all positive. I remember being frustrated by the shitshow that was Silk Road 2.0 in the beginning, right after SR1 shut and when DPR2 took off and Defcon got all dramatic. It settled down after a bit and lasted a year, when it was revealed THEY HAD A FUCKING UNDERCOVER HOMELAND SECURITY OFFICER ON STAFF THE WHOLE TIME. But yeah, anyhow, they are probably true. I'd love to hear them :)
Was there ever something on the dark web that made you surprised ( in a good way) and smile ? So many things. Back in the day of the original Silk Road, I became obsessed with the forums, the people behind it, the intelligent discourse about the War on Drugs and philosophy. I found it amusing that drug dealers ran sales and giveaways. There were book clubs and movie clubs.
One of the most important people from that era was Dr Fernando Cauevilla, who became a member of Silk Road as "DoctorX". He was a real doctor who provided genuine, free, non-judgmental advice about drug use to the members of the site. It was quite an amazing time.
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Did Ulbricht get taken down the way we were told in the news? What happened to all the Bitcoins? His arrest went down the way we were told in the news. How they located the server has never been disclosed (other than a fanciful explanation that NOBODY could believe). This explanation may be tested if Variety Jones runs a Fourth Amendment argument at his trial
The bitcoin in the wallet on Ross' computer was auctioned off by the Feds. He may have other bitcoin wallets stashed somewhere but nobody knows
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Book/movie clubs on the silk road? Yeah, they would set reading and then everyone would come back and discuss the book, or they would have a time when everyone watched the same movie at the same time and chatted about it in real time
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Haha that's amazing! I don't suppose you remember any of the books in question? They used to be a lot of philosophy books, especially on agorism. A Lodging of Wayfaring Men was one of the books. I remember V for Vendetta on a movie night
You don't seem to be pushing your most recent project and you're actually answering all the questions people ask, so I've got ask...are you some sort of government plant meant to destabilize reddit? This isn't how AMAs are supposed to work. You come in, you half ass a few questions, hawk whatever you're here to hawk, and then leave after 20 minutes. That's how it's done. lol I'm a genuine redditor from way back, and I love talking about the stuff I do. I did find that after I answered a question in an AskReddit thread a while back that blew up, the sales followed. But that was organic and I don't think you can force it to happen - Reddit can spot that a mile awy
What are some of the best things about the dark web? And can anyone get on it? Things you can buy that you can’t buy normally online? I really enjoy some of the forums, especially the psychonaut forums where people who like to trip on psychedelics get together and talk drugs and philosophy. There's a real "be kind to one another" vibe.
Getting on the dark web is easy, but not getting scammed when buying things takes a lot of homework. Yes, you can buy most things, but the most popular things are drugs and digital goods, i.e. things that depend on repeat custom and are easily transferable from seller to buyer
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[deleted] You're doing the Good Work my man. I'd give you one of those awards if i knew how
What would you define the word "Safe" when it come to the internet (both www and dark web) world and are there any tips that I should follow to keep myself safe? It really depends on what YOU mean by safe. Tor, which is the darknet that provides access to the dark web will keep you safe from prying eyes and surveillance.
If you mean keep your information safe, the old-fashioned advice is to never reuse your password and to enable 2-Factor authentication wherever you can. Your information is quite likely somewhere on the dark web thanks to high-profile hacks of major organizations, but provided you don't re-use usernames and passwords, you really don't have to worry too much about it.
If you mean keeping yourself and/or any kid safe from predators, the only thing is to ensure you are educated about the approaches and methods they use.
Has Covid affected the Dark Web in any real way? Also I just read through all of the post comments, what incredible story’s. I would totally buy a book about the Silk Road or Yaru! re covid on the dark web, here's some notes I made for an interview I did recently:
* when Trump first hyped hydroxychloroquine as a potential miracle cure for COVID-19, drug dealers on the dark web seized on the claim.
* Listings quickly popped up on the most popular darknet markets
* A vendor on Whitehouse Market sells 100 Pills for $90, calling it a “Miracle Drug For Coronavirus” and suggesting buyers purchase in bulk to sell at a mark-up locally.
* Another makes the dubious claim “This drug will help people to beat Corona Virus” There are 11 listings on Empire Market currently, although more than half are from the one seller, who is a well-known and trusted vendor on the site.
* There were also people claiming to be selling infected blood or plasma of recovered COVID victims
* The infected blood stuff is just bullshit IMO Just because something is listed doesn’t mean it is genuinely for sale
* There's been some claims to be selling vaccines
* At the beginning there were also loads of listings for PPE
* some just used it as a marketing tactic - “fight off the virus with edible cannabis” or “relax with Xanax” and others as an excuse to raise their prices
* However, sales are low compared to sales of other drugs on the site, so it is difficult to say whether it’s something that will really catch on
* It didn’t take long for complaints to come in and market owners to clamp down on anything claiming to be a miracle cure or vaccine
* users were discouraging other users from profiting off the pandemic and requested markets provide health and safety information
* All the major markets forbid anything being sold as a cure for COVID. They flagged keywords and vendors would be told to take any listings down. They also put out PSAs telling people not to buy
* Monopoly: threatened to ban and.. “You are about to ingest drugs from a stranger on the internet - under no circumstances should you trust any vendor that is using COVID-19 as a marketing tool to peddle already questionable goods”
* It was a business decision. They don’t want anything that will attract attention or that might cause desperate people who wouldn’t normally use the DNMs to find their way there
* The idea behind DNMs generally is educated and responsible drug use. They really don’t want people dying - bad publicity and no repeat custom
* However the dark web is rife with scammers and people willing to prey on the desperate so there are still scams out there
* The only way I could ever see it becoming a thing is if there is a well-known potential cure/vaccine that is not being made widely available and could plausibly find its way onto the black market
Hi Eileen :) My question is about how you construct your Casefile episodes - I assume there is an extensive amount of outlining but do you write the final draft like a script specifically thinking about his voice? And about how long are they as far as - for example - does one hour equal 50-60 pages? Thank you. I initially write them as if I'm writing an article or book, but then go back and edit them to be read out and yes, when I do that, I do have his voice in my head lol. One episode is usually around 12,000 words. It then goes to another editor who edits the episode to be even more "casefileaa' before it finally goes to Casey
Have you been exposed to things in your investigations that have made you second-guess what you do? If so, what has made you keep going back? i've definitely had days where I question everything, but to be honest, I don't really hang around the horrible really dark places much. I did delve into the child predator forums when I was writing The Darkest Web, but I don't make it a habit to go there. The psychonauts are much more friendly
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To continue with that- have you clicked images, links that make you a suspect in certain scenarios? Oh absolutely. Sometimes I go to a "Fresh Onion" site, which is a site that crawls all the .onion addresses (dark web URLs end in .onion rather than .com, org etc) and alerts you to any new ones. Sometimes they don't have any description, so you take a big risk clicking on any of those. The most dangerous button on the dark web is the "Random Onion" button, so I avoid that.
I'm pretty careful about what I click, but the moment something looks questionable I nope the fuck right out of there
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Have you ever felt that you may be a suspect whether it be ok a drug site, a pedo site, etc. Have you ever been contacted by someone regarding your surfing habits? Well my actual surfing habits are protected by Tor, which means they are hidden from prying eyes, so no I haven't been contacted about them. I am very open on the dark web about who I am and what I'm doing there - I use the name OzFreelancer on all of the markets and forums. I don't go to the sites that host child abuse images - you can't un-see that shit and I don't need it in my head.
As noted in another reply, I was contacted by Homeland Security on one of my visits to the US and taken for a "friendly" lunch.
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Psychonauts are more friendly than most people. Something about regular mind altering experiences makes you want to be less of a cunt. Yeah, I call The Majestic Garden a little corner of sunshine and rainbows on the dark web :)
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More about The Majestic Garden please? What is grown there? It's a place where people talk about and source psychedelics - most notably LSD, the 2C family, DMT and MDMA. Talk about and sourcing harder drugs is forbidden. In fact the admins snuck in an autocorrect so that any time someone wrote the word "cocaine" it would post as "a raging hardon" :D
Do you fear that seeing all this stuff might turn you emotionally blunt? I'm not watching any of this stuff on purpose (even the clearnet stuff), because I fear that the more you see of it, the more normal it gets, and ultimately, the more it will fuck you up. To quote the movie 8mm... "If you dance with the devil, the devil don't change. The devil changes you." No, I can't even watch "3 Guys 1 Hammer" in its entirety, let alone look at the really dark materials on the dark web. When I was researching The Darkest Web, going into the predator forums did the opposite of making me blunt. It was the shortest section of the book but took the longest to write because it was so emotionally draining
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I have to ask, what is "3 Guys 1 Hammer"? It's a video of two teenagers murdering an innocent man with a hammer that went viral on the gore sites of the regular internet. It's truly horrible.
The teens killed over 20 people. I wrote about them in my book Psycho.com (excuse the plug)
I heard somewhere that you foster dogs. Is that something you do to counter all the terrible humans you encounter in your research - everyone knows how dogs are better than people. How many dogs have you fostered and which one was your favourite? After my dog died I knew I didn't want to have another dog as I wanted to travel more. So I thought fostering dogs would be the answer as you give them love for a few weeks and then they go to their forever home. My first foster, Roy, was a big fat failure and now he lives here and sleeps in our bed and is the most spoiled dog alive
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Did you then just decide to quit travelling? I don't know anything about Roy, but I already think I love him. Nah, he has family he can stay with when I go away, but any major travelling has been thwarted by COVID for now anyway. I'm in a hard lockdown city.
And I'm sure Roy would love you too, u/suckmyhugedong
Given how much you know about the dark web, what kind of crazy awful nightmares have you had? This could be a really good one. Thank you Probably the worst thing was delving into the forums where child predators gathered. I never looked at any videos or photos, but just seeing their discussions sickened me. The one thing that keeps coming back to me came out of the sentencing hearing that I attended of Lux, owner of Hurt2theCore, considered the most heinous website in history. In court they read out a conversation between him and an abuser who made videos of torture of the mute disabled child in his care. They were joking "at least she won't be able to tell anyone" . the abuser wasn't caught, at least by that stage
As an indie author, how have you sourced freelancers? Did you seek out those that have specific expertise or did you work with editors from your time as a traditionally published author? I learned to do everything myself before I started outsourcing.
I work with a professional editor who happens to be a friend of mine from back when we did a writing course together. I've been doing my own covers, but now that I have some royalties coming in, I've engaged a professional cover artist from Reedsy to develop a brand and more professional-looking covers for me. It is the hardest thing to find people you really want to work with and who are in budget.
I still haven't got the hang of email lists, newsletters or a website - they are all in a total mess at the moment and I'd love to find someone who can do them, but again it is that problem of finding the right person who is within budget
is it true that most of the internet is in the "dark web"? if so about how much percent is it? By far the biggest myth is that it 10x larger than the Internet. I mean, this should be common sense anyway, but it gets propagated by tabloid media all the time. It stems a lot from people using the terms "deep web" and "dark web" interchangably when they are different things.
The statement that 90% (or thereabouts) of the internet is hidden is true, and it is called the deep web (not the dark web). The 90% that is hidden is all those pages you won’t get to using google or any other search engines. There’s nothing scary about that – in fact it works in your favour.
The easiest example is your bank. The bank’s major page is available to anyone who searches the web (part of the 10%, also known as the “clearweb”). But once you log in, all those pages you can access that contain your personal details? Not searchable on google. Each one of those pages is part of the 90% of the deep web. Business and government intranets also make up part of the deep web. Honestly, it’s nothing to worry about.
The dark web – the hidden services available through Tor and other anonymising programs – makes up a tiny fraction of the deep web. A really, really tiny fraction. It is infinitely smaller than the clearweb.
Do you think human trafficking happens on the dark web? Last year (I think) there was a really bizarre story here in the UK about a model who was supposedly kidnapped to order, drugged and transported overseas by a group called "Black Death". The official story is that BD doesn't exist, and the kidnapper was a fantasist. Is it likely that humans are bought and sold into slavery over the dark web? There are no slick websites with auctions for slaves on the dark web, but I have no doubt that human traffickers use dark web encryption to communicate.
(here comes the second plug for the thread) - I wrote about the kidnap of Chloe Ayling and the Black Death Group in Murder on the Dark Web
What ever happened to the plural of mongoose storyline? it seems like after he was arrested in the united states, his case just fizzled away. did you ever find out any more information about yuri after he cancelled the interview with a news program? what happened with peter scully's case? i read that there was a fire where a lot of evidence against him was held and it all went up in smoke. are there any character and/or personality storylines that you feel haven't been told or are still a complete mystery? eg. tony76 1. He is still in the MCC in NY and awaiting trial. It has taken a long time because he had terrabytes of information to go through and things would have slowed down due to covid. I understand he is running the Fouth Amendment argument that Ulbricht probably should have run in the first place
2. I last heard from Yura just a few weeks ago. He is still scamming. There are some more programs in the works about him
3. Yes there was a very convenient fire, but he still got sentenced to life and i hope he rots in hell
4. I am madly curious to know what is happening with the extradition of James Ellingson, aka “MarijuanaIsMyMuse”, aka "redandwhite", MAYBE aka Tony76. I would LOVE to know that full story!
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Wow, this shit is a blast from the past. I used to love following the darknetmarket drama. Did you write about PoM and tony76 in one of your books? Ever since reddit shut down /darknetmarket I've been out of the loop. Yes, I wrote about them in The Darkest Web
I was in touch with PoM/Mongoose when he went on a posting rampage on MyPlanetGanja, then visited him in Bangkok prison several times. Wrote all about it :)
This may have been answered by a previous post pertaining to native language barriers to specific sites on the dark web, but in your investigations, did you come across content/pages/forums from warzones? Middle East, Burma, Afghanistan, etc? If yes, what was the most memorable bit? There are loads of sites in foreign languages, but it is too difficult for me (a one-language numpty) to attempt to translate through AI, and it is not worth hiring a translator when they could just turn out to be Cat Facts
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Bext Exchanges

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STUDENTS DONT FUCK UP AND READ THIS. Especially newcomers.

STUDENTS. the reason u dont see many posts exposing scammers is the fact tht most students end up deleting their posts within a few hours after they get threatened to be exposed to their colleges. i have witnessed it first hand n it only takes a google search to see the evidence/ a day to observe the same pattern real time.
Well, YOU might be next. so u better fucking pay attention to what u are about to read newbie.
1) payment. whatever u do, make sure ur payment is anonymous.
- paypal is not anonymous unless u make a new account. even then, use something else.
- use abine.com for a masked card.
- use bitcoin.
- dont click on any links anyone sends.
- use vpn.
- NEVER EVER communicate through email. discord is better.
2) school. don’t reveal ur college name.
- whn u send a question, rephrase them n change the words. this means tht not only can they not google answers easily within the time limit u give, but they wont be sure which college u r from and it will be harder to threaten. this filters more scammers for ur own good.
3) questions
- good English does not mean they r legit. many scammers have flawless grammar n even American slangs.
- u MUST send them at LEAST 1 question to solve which solutions cant be googled.
- some scammers who approach u will send u a solution for a question u havent asked. to u, u may think when u see his solution ("hey this solution looks legit, he must be legit") NO.
- Just bc he sends u a solution he chooses to solve, does NOT mean in ANY WAY SHAPE OR FORM tht he is not a scammer. NO. u dont know.
- be aware tht at this stage whn u r searching for help, ur judgement is clouded n u WANT to believe tht they r going 2 help u. be aware of ur clouded mind so tht u can be thorough n objective.
- make sure YOU ask YOUR OWN questions which cant be googled elsewhere.
- ONLY THEN should u continue the conversation. but still with vigilance n precaution.
4) pay as you go
- in ur post, I suggest to always offer pay as u go.
- only scammers will not be enthusiastic about ur offer.
- a red fucking flag. real tutors are fine with pay as u go.
- the second a tutor says “i wont do pay as u go bc I have gotten scammed before” they r a scam. tell me how does one get scammed with a pay-as-u-go system? do enlighten me. pay as u go serves both the payers n buyers best. logic.
- so, the very second they attempt to oppose 'pay as you go' while discussing arrangements, leave the chat. u have spotted a filthy scammer in the wild my fellow friend.
- Classic excuse “i need to study ur syllabus so u need to pay me half” NO.
- YOU ladies n gents look for tutors WHO ALREADY KNOW ur syllabus.
- altho be wary. many will still try to make u trust them by agreeing to 'pay as you go', only to threaten u to pay on the day of the exam “if u dont send in the money, i will not i wont send the paper”
- when tht happens, delete ur chat receipts on discord n block the user.
- bc i guarantee tht this scumbag not only does NOT HAVE UR PAPER but he is NOT ABLE to solve ur paper. the animal probably has not even graduated high school.
- time is running out when tht happens on the day of the test.
- ur best bet is urself, a smart friend, n post 'pay as u go' offer here on the subreddit.
5) ok. You have been scammed. What next?
- DONT PAY. vanish completely. dont give them a chance to scare u.
- but before u leave, remind them this, u paid them to do the paper n u can easily pay someone else find their real identities if they try to lay a finger on u.
- there are many good people online who are willing to scam scammers for free.
- this is a video of a hacker scamming a scammer. it brings me utmost joy i must say: youtube title: scammer FLIPS when i know his exact location.
- if u already know ur scammers' identities, WARN them before they try to notify ur school. tht u will also be reporting their names to the national police, ur country n theirs, reddit, interpol, every ngo cybercrime units internationally. literally everywhere if they try something.
- use vpn
- dont be afraid my brothers n sisters. THEY WANT U to be afraid. DONT BE.
- put up a fight. THEY DONT WANT YOU to fight back. SO FIGHT BACK.
Like i said, DONT START a fight but warn them about what u will do. they should know tht if they throw a punch, they will have a bruised eye n a fractured hip the next second. FIGHT n dont hold back.
- these scammers do not want any attention from any cybercrime units n hackers online who hack scammers who scam. they cannot report u to the school fully without exposing themselves, n they cant expose themselves as they are illegal. they will need to show evidence of your chats but at the same time relinquish all of their information as well. not ideal for a scamming team if u ask for my humble opinion.
LASTLY, if u still have time to study, LEAVE.
u can find urself a smart friend to help.
tht is ur best bet.
this place is a GAMBLE with ODDS NOT IN UR FAVOUR.
trust urself n ALWAYS DOUBT these people NO MATTER WHAT.
As for the good tutors:
consider this, tutors, u lose only money when you get scammed. students not only lose money during a scam but are threatened to lose a place in their colleges in addition to failing the exam as scammers dont do the papers well, if at all.
so dont comment about 'hard work' n how this will make ur job more difficult. students are being scammed here everyday and as decent human beings aware of what is going on, u should tell them "throw me a question now ill solve it within 10 minutes" or offer 'pay as u go'. build a business relationship from there. prove urself to win their trust.
ALL U NEED TO UNDERSTAND IS THIS, students n tutors alike, tht the discrepancy between the risk a student is taking compared to tutor is vastly significant. the system is broken. by staying silent, u r allowing these monsters to plague and prey.
students, tread lightly. u have lots to lose if u make 1 wrong move. Demand more proof, be more careful n dont be stupid for Christ's sake.
tutors, simply just prove tht u are able to solve n accommodate. If u have been in this space for long and u know what is going on, u could always raise awareness.
We are our brothers' keepers.
note:
i will not be replying comments or private messages. aint nobody got time fo dat. yall hold ur own discussion. my job in raising awareness is done. i will repost this from time to time so if u r not a scammer student/tutor, upvote to save potential students who have too much faith in humanity.
to students like me, u have everything u need up there. like i said, this place is dangerous n everything can go south in a sec, its best if u focus on doing the paper urself n find a smart friend whom u know n trust*. u can still score high tht way. maybe even higher.*
if u still choose to find a stranger here to help- which i still insist for you to not*- make sure read everything above carefully.*
As a last reminder to you students, check for reddit vouches*. check the* accounts behind those vouches*.* many of them are fake*. even with* perfect grammar*.* ALWAYS DOUBT. better safe than sorry.
in regards to my previous post:
i thought abt it. i understand how it was racist of me to point out tht the scammer is indian. i apologise. u r right. "so what if he is indian?" as if there r no scammers who r not indian. i apologise. i see u.
at the same time. can someone enlighten those of us who cant grasp an understanding of y the indian gov is not doing anything abt the burgeoning scamming industry. look it up. its the capital of scams. surely, someone needs to take responsibility. wht can we do as a collective whole? indian citizens and non-indian citizens. is there anything we can do at all?
submitted by studyfreakelon to domyhomeworkforme [link] [comments]

PSA: How to use crypto to sell/buy PMs on r/PMsForSale

TL;DR 1: this is not an investment recommendation. This is not an endorsement of any crypto coin, token, or service. This post (which is a bit longish) describes how to use crypto as another payment mechanism. It would just add another tool to your PM trading toolbox.
TL;DR 2: This is not an exhaustive review – it’s a simplified how-to. Calling me out on certain minute aspects is useless. However, if I made a mistake, or omitted something important PLEAESE correct me.
TL;DR 3: I’ll describe everything in chapters, so as you go down, if you feel this is irrelevant to you, you can stop without spending too much time reading it all.

Chapter 1: Why use crypto

  1. You control the entire transaction, end to end. You do not need a third party (Like PayPal or Google) telling you what you’re allowed to sell, and for how much. You do not need to resort to subterfuge (“use Friends & Family, and make sure to leave no notes!”).
  2. Crypto transactions add a level of privacy (depending on how you use them).
  3. Transactions are secure (read more about blockchain technology), and usually only involve you sharing your crypto address with your counterpart.
  4. Transactions are irreversible – good if you’re an established seller who’s afraid of chargebacks by scammers.
  5. Yet transactions can still be proven – they’re out there on the blockchain, available for all to see.
  6. Most of the time, transactions are fast (depending on network traffic and amount of gas paid).

Chapter 2: Types of crypto

I’m not going to go into technicalities, and definitely not recommend anything. Let’s just split the crypto world right now into 2 types of coins: stable, and unstable.
  1. Unstable coins (Bitcoin, Ether, Ripple etc.) can see their fiat value go up or down several times a minute. They’re volatile, and while they can be used to pay, the buyer and seller need to agree on the spot, convert fiat to the coin and start the transaction – at the end of which, the fiat value received may be higher or lower than when the transfer started. Because of that, I’ll avoid discussing them here.
  2. Stable coins usually run on the Ethereum blockchain, and use a technology called “smart contract” to attach their value to fiat. A stable coin like USDC, DAI, USDT etc. will always be worth $1 (give or take 1% at certain times). For all intents and purposes, if I quote you a price of $250 and you send me 250 USDC – we’re done.

Chapter 3: what do I need to have to trade in stable coins?

  1. An address – your crypto address allows you to control crypto on the blockchain. More specifically, it allows you to withdraw funds (since everyone can deposit to your address, whether you want it or not).
  2. A crypto wallet. A wallet is NOT where you hold your coins! Your “money” is on the blockchain, assigned to your address. Your wallet allows you to mange the coins in that address. You can either use one of the free wallets out there, or have one provided to you by an exchange. I recommend MetaMask. It runs as a browser extension (Chrome, Firefox, Brave) or a mobile app. Make sure you do your due diligence before selecting a wallet, so you wont use a scammy app, that will use your pass phrase to clean up your address!
  3. Some Ether (usually 0.05-0.1 ether is enough for several transactions) – every transfer on the blockchain has a fee, representing compensation for the computer work done to transfer funds from address to address. This fee, known as “gas” can go from fractions of a cent to several dollars – depending on the blockchain traffic at the time. You can control the amount of gas, and price of gas for your transactions, but generally speaking: the less you pay, the slower the transfer. Gas is paid in Ether only, so you need some in your wallet (see below on how to get it).
  4. If you want to sell using crypto – you’re done!
  5. If you want to buy using Crypto, you’ll need to convert some fiat to stable coins – see next chapter.

Chapter 4: Quickest way to get stable coins

The easiest way to start (in the US – your miles/kilometres may vary elsewhere) is to open a Coinbase account.
(Disclaimer: you can choose any other exchange. I’m not compensated by Coinbase, I have no stake in Coinbase, I don’t work there, or know anyone who does. There’s a reason I mention them: they make this simple.)
While Coinbase is the fastest and easiest way to go for noobs, there are some caveats:
  1. Coinbase is a registered financial company. They require full KYC (i.e. photo of your driver’s license). Everything you do gets reported to the IRS, authorities, etc. But then, your bank does the same.
  2. Coinbase doesn’t care where the funds come and go – unless law enforcement, IRS, SEC etc tell them to care. If you’re privacy-oriented, an exchange is not for you, go to the next chapter.

Let’s look at the steps of using Coinbase, and how much they’ll cost you:

  1. Open Coinbase account (free)
  2. Go through KYC needed to connect a bank account to your Coinbase account (free)
  3. Transfer fiat to your account (free if bank transfer, otherwise credit/debit card fee applies)
  4. Convert fiat to the stable coin USDC (FREE! Since Coinbase “owns” USDC, they don’t charge anything to convert back and forth between USD and USDC. And it’s always 1-1 conversion.)
  5. Transfer USDC to an external wallet (yours, or a sellers) (FREE! Again, another perk – Coinbase pays your transfer gas fee).
  6. If you’re content with using Coinbase as your wallet, you are done!
a. When you want to buy, you ask the seller for his address, and transfer USDC to him (free).
b. When you want to sell, you give the user your Coinbase USDC address and he sends there (free again).
c. Make sure you send the right address – there are no backsies in crypto!!!

Using your own wallet:

  1. Install MetaMask. Follow instructions to create your address. Make sure you keep the pass phrase safe (NOT ON YOUR COMPUTER).
  2. Go through steps 1-5 to convert some fiat to USDC for free.
  3. Buy some ether – Currently Ether spot is about $230, meaning it’ll cost you about $10-20 to get some Ether + whatever fee Coinbase has on trading.
  4. Send the USDC to your new address.
  5. Send the Ether to your new address.
  6. You are now good to send and receive payments!
  7. When you receive USDC from a buyer, you can either keep them in your wallet for further use, or send to Coinbase, convert to fiat and send to your bank account. Always remember: on Coinbase 1 USDC == $1.

Chapter 5: Doing it on your own – for advanced users only

If you don’t like sharing all your info with Coinbase, you can definitely just install your own wallet (MetaMask is still the best option, IMHO, but there are many more), and fund it personally.
The biggest challenge you’ll face is: how do I convert fiat to crypto? Here are some options:
  1. The easiest: get someone to sell you some. Someone who already went through the whole process, and will agree to give you some crypto. Once you have crypto, you can easily convert it to any other crypto, without using any exchange, using crypto swap apps.
  2. The more expansive: use a service like Changelly (and there are others – again: I have no stake) to “buy” crypto. Take into account that they have fees. There are also services (like LocalBitcoins) that will allow you to buy directly from other people, for lower fees.
  3. You can use a different exchange, perhaps even one in a different country. Take into account that you’ll need to get actual money there, so at one point, someone will know something about you.
As said, once you have ANY crypto in your wallet, it’s easy to convert it to stable coins, Ether, or everything else you need.

Summary

I tried covering the basics of using crypto for payment. I did my best to avoid techy aspects and jargon.
Crypto is here to stay. Next (and current) generations will use it, like we’re using credit cards and PayPal. It will have no “magic” or “hoax” attached to it. It’s not “good” or “bad” – it’s just another way to convey value.
I was taught all this by someone. I’m sharing this with you now, in the hope you’ll share it with other people. That’s how knowledge grows.
If anyone wants any clarification, or expansion on any item, feel free to comment below, or reach out to me.
submitted by Niceguy955 to Silverbugs [link] [comments]

The White Dragon : A Canadian Dragon Portfolio

Alright guys, Ive been working on this for a while and a post on here by a guy describing his portfolio here was the final kick in the ass for me to put this together. I started writing this to summarize what Im doing for my friends who are beginners, and also for me to make some sense of it for myself
Hopefully parts of it are useful to you, and also ideally you guys can point out errors or have a suggestion or two. I'm posting this here as opposed to investing or canadianinvestor (blech) because they're just gonna tell me to buy an index fund.
This first section is a preamble describing the Canadian tax situation and why Im doing things the way that I am. Feel free to skip it if you dont care about that. Also, there might be mistake regarding what the laws are here so dont take my word for it and verify it for yourself please.
So here in Canada we have two types of registered accounts (theres actually more but whatver). There is the TFSA "Tax Free Savings Account", and RRSP "Registered Retirement Savings Account"
For the sake of simplicity, from the time you turn 18 you are allowed to deposit 5k (it changes year to year based on inflation etc)in each of them. That "room" accumulates retroactively, so if you haventdone anything and are starting today and you are 30 you have around 60k you can put in each of them. The prevailing wisdom is that you should max out the TFSA first and you'll see why in a minute.

TFSA is post tax deposits, with no capital gains or other taxes applied to selling your securities, dividends or anything else. You can withdraw your gains at any time, and the amount that you withdraw is added to the "room" you have for the next year. So lets say I maxed out my TFSA contributions and I take out 20k today, on January of next year I can put back in 20k plus the 5 or whatever they allow for that year. You can see how powerful this is. Theres a few limitations on what is eligable to be held in the TFSA such as bitcoin/bitcoin ETFs, overseas stocks that arent listed on NYSE, TSX, london and a few others. You can Buy to Open and Sell to Close call and put options as well as write Covered Calls.

The RRSP is pre-tax deposits and is a tax deferred scheme. You deposit to lower your income tax burden (and hopefully drop below a bracket) but once you retire you will be taxed on anything you pull out. Withdrawing early has huge penalties and isnt recommended. You are however allowed to borrow against it for a down payment as a first time home buyer. The strategy with these is that a youngperson entering the workforce is likely to be in a fairly low tax bracket and (hopefully) earns more money as they get older and more skilled so the RRSP has more value the greater your pre-taxincome is. You can also do this Self Directed. Its not relevant to this strategy but I included it for the sake of context.
Non registered accounts ( or any other situation, such as selling commercial real estate etc) is subject to a capital gains tax. In so far as I understand it, you add all your gains and losses up at the end of the year. If its a positive number, you cut that number IN HALF and add it to your regular pre-tax income. So if I made 60k from the dayjob and 20k on my margin account that adds up to 70k that I get taxed on. if its a loss, you carry that forward into the next year. Theres no distinction between long term and short term. Also physical PMs are treated differently and I'll fill that part in later once I have the details down.
The reason why all that babble is important is that my broker Questrade, which isnt as good as IB (the only real other option up here as far as Im aware) has one amazing feature that no other broker has: "Margin Power"
If you have a TFSA and a Margin account with them, you can link them together and have your securities in the TFSA collateralise your Margin account. Essentially, when it comes to the Maintenance Excess of the Margin Account QT doesnt care if its in the TFSA *or* the Margin!
You can see how powerful this is.
------------------------------------------------------------------------------------------------------------------------------------------------
So as you can tell by the title, a lot of this is heavily inspired by Chris Cole's paper "The Allegory of the Hawk and the Serpent". You can read it here: https://www.artemiscm.com/welcome#research
Between it, his interviews and my mediocre options skills at the time my mind was blown. Unfortunately I didnt know how to do the Long Volatility part until after the crash in March but I've since then had nothing but time to scour the internet and learn as much as I could.
The way I interpret this isnt necessarily "what you should have right now", but what abstracted model they were able to backtest that gave them the best performance over the 90 years. Also, a lot of my portfolio I already had before I started trying to build this.
As such my allocations dont match the proportions he gave. Not saying my allocations are better, just showing where they are at this time.
I'm going to describe how I do Long Volatility at the end rather than the beginning since the way *I* do it wont make sense until you see the rest of the portflio.

Physical PMs 22%
I'm not sure wether he intended this to be straight up physical gold or include miners and royalty streaming companies so I will just keep this as physical.
I consider Silver to be a non-expiring call option on gold, so that can live here too. I am actually *very* overweight silver and my strategy is to convert a large portion of it to gold (mostly my bars) to gold as the ratio tightens up.
If youre into crypto, you can arguably say that has a place in this section.
If an ETF makes sense for part of your portfolio, I suggest the Sprott ones such as PHYS. Sprott is an honest business and they actually have the metal they say they have. If you have enough, you can redeem your shares from the Royal Canadian Mint. The only downside is that they dont have an options chain, so you cant sell covered calls etc. Simple enough I suppose.
One thing to bear in mind, there is a double edged sword with this class of assets. They're out of the system, theyre nobody's business but your own and theres no counter party. That unfortunately means that you cant lever against it for margin or sell covered calls etc. You can still buy puts though (more on that later)

Commodity Trend (CTA) 10%
https://youtu.be/tac8sWPZW0w
Patrick Ceresna gave a good presentation on what this strategy is. Until I watched this video I just thought it meant "buy commodities". A real CTA does this with futures also so aside from the way he showed, there are two other ETFs that are worth looking at.
COM - This is an explicit trend following ETF that follows a LONG/FLAT strategy instead of LONG/SHORT on a pile of commodity futures. So if they get a "sell" signal for oil or soybeans they sell what they have and go to cash.
COMT- Holds an assortment of different month futures in different commodities, as well as a *lot* of various related shares in producers. Its almost a one stop shop commodities portfolio. Pays a respectable dividend in December
If you want to break the "rules" of CTA, and include equities theres a few others that are also worth looking at
KOL- This is a coal ETF. The problems with it are that a lot of the holdings dont have much to do with coal. One of them is a tractor company. A lot of the companies are Chinese so theres a bit of a red flag.
Obviously Thermal Coal, the kind used for heating and powerplants isnt in vogue and wont be moving forward...but coking coal is used for steel manufacturing and that ain't going anywhere. The dividend is huge, pays out in December. A very very small position might be worth the risk.
Uranium- I'm in URA because thats the only way for me to get exposure to Kazatoprom (#1 producer), which is 20% of the holdings. The other 20% is Cameco (#2 producer)and then its random stuff.
Other than that I have shares in Denison which seems like its a good business with some interesting projects underway. I'm still studying the uranium space so I dont really have much to say about it of any value.
RSX- Russia large caps. If you dont want to pick between the myriad of undervalued, high dividend paying commodity companies that Russia has then just grab this. It only pays in December but it has a liquid options chain so you can do Covered Calls in the meantime if you want.
NTR- Nutrien, canadian company that was formed when two others merged. They are now the worlds largest potash producer. Pretty good dividend. They have some financial difficulties and the stocks been in a downtrend forever. I feel its a good candidate to watch or sell some puts on.
I'm trying to come up with a way to play agriculture since this new phase we're going to be entering is likely to cause huge food shortages.

EURN and NAT- I got in fairly early on the Tanker hype before it was even hype as a way to short oil but I got greedy and lost a lot of my gains. I pared down my position and I'm staying for the dividend.
If you get an oil sell signal, this might be a way to play that still.

Fixed Income/Bonds 10%

Now, I am not a bond expert but unless youre doing some wacky spreads with futures or whatever... I dont see much reason to buy government debt any more. If you are, youre basically betting that they take rates negative. Raoul Pal of Real Vision is pretty firm in his conviction that this will happen. I know better than to argue with him but I dont see risk/reward as being of much value.
HOWEVER, I found two interesting ETFs that seem to bring something to this portfolio
IVOL- This is run by Nancy Davis, and is comprised of TIPS bonds which are nominally inflation protected (doubt its real inflation but whatever) overlayed with some OTC options that are designed to pay off big if the Fed loses control of the long end of the yield curve, which is what might happen during a real inflation situation. Pays out a decent yield monthly
TAIL- This is a simpler portfolio of 10yr treasuries with ladder of puts on the SPX. Pays quarterly.

Equities 58% (shared with options/volatility below)
This is where it gets interesting, obviously most of this is in mining shares but before I get to those I found some interesting stuff that I'm intending to build up as I pare down my miners when the time comes to start doing that.
VIRT- I cant remember where I saw this, but people were talking about this as a volatility play. Its not perfect, but look at the chart compared to SPY. Its a HFT/market making operation, the wackier things get the more pennies they can scalp. A 4% dividend isnt shabby either.
FUND- This is an interesting closed end fund run by Whitney George, one of the principals at Sprott. He took it with him when he joined the company. Ive read his reports and interviews and I really like his approach to value and investing. He's kind of like if Warren Buffett was a gold bug. Theres 120 holdings in there, mostly small caps and very diverse...chicken factories, ball bearings all kinds of boring ass shit that nobody knows exists. Whats crucial is that most of it "needs to exist". Between him, his family and other people at Sprott they control 40% or so of the shares, so they definitely have skin in the game. Generous dividend.
ZIG- This is a "deep value" strategy fund, run by Tobias Carlisle. He has a fairly simple valuation formula called the Acquirer's Multiple that when he backtested it, is supposed to perform very well. He did an interview with Chris Cole on real Vision where he discusses how Value and Deep Value havent done well recently, but over the last 100 years have proven to be very viable strategies. If we feel that theres a new cycle brewing, then this strategy may work again moving forward.

I want to pause and point out something here, Chris Cole, Nassim Taleb and the guys at Mutiny Fund spend a lot of effort explaining that building a portfolio is a lot like putting together a good basketall team. They need to work together, and pick up each others slack
A lot of the ETFs I'm listing here are in many ways portfolios in and of themselves and are *actively managed*. I specifically chose them because they follow a methodology that I respect but I can't do myself because I dont have the skill, temperament or access to.
The next one is a hidden gem and ties into this. I'm not sure how much more upside there is in this one but man was I surprised.
SII- Sprott Inc. I *never* see people listing this stock in their PMs portfolios. A newsletter I'm subscribed to described this stock as the safest way to play junior miners. Their industry presence, intellectual capital and connections means that they get *the best* private placement deals in the best opportunities. I cant compete with a staff like theirs and I'm not going to try. I bought this at 2.50, and I liked the dividend. Since then they did a reverse split to get on the NYSE and like the day after the stock soared.
When it comes to mining ETFS I like GOAU and SILJ the best. None of their major holdings are dead weight companies that are only there because of market cap. I dont want Barrick in my portfolio etc.
SGDJ is a neat version of GDXJ.
Aside from that my individual miners/royalty companies are (no particular order)
MMX
SAND
PAAS
PGM
AUM
AG
MUX
RIO- Rio2 on the tsx, not rio tinto
KTN
KL
Options/Volatility: varies
So this is where we get to the part about options, Volatility and how I do it. I started out in the options space with The Wheel strategy and the Tastytrade approach of selling premium. The spreads and puts I sell, are on shares listed above, in fact some of those I dont hold anymore.
Theres tons of stuff on this in thetagang and options so I wont go into a whole bunch (and you shouldnt be learning the mechanics from me anyway) but theres one thing I want to go over before it gets wild.
If I sell a Cash Secured Put, from a risk management perspective its identical to just buying 100 shares of the underlying security. You are equally "Short Vol" as well, it just that with options
its a little more explicit with the Greeks and everything. But if I use my margin that I was talking about earlier, then I can still collect the premium and the interest doesnt kick in unless Im actually assigned the shares.
But if I sell too many puts on KL or AG, and something happens where the miners get cut down (and lets be real, they all move together) my margin goes down and then I get assigned and kaboom...my account gets blown up
So what I need to do, is balance out the huge Short Vol situation in my portfolio, be net Long Vol and directly hedge my positions. Since the overwhelming majority of my equities are all tied to bullion this is actually a very easy thing to do.

Backspreads
https://youtu.be/pvX5_rkm5x0
https://youtu.be/-jTvWOGVsK8
https://youtu.be/muYjjm934iY

So I set this up so the vast majority of my margin is tied up in these 1-2 or even 1-3 ratio put spreads that *I actually put on for a small credit*, and roll them every once in a while. I run them on SLV, and GDX.
I keep enough room on my margin so I can withstand a 10% drawdown before it sets off the long end of the spreads and then I can ride it out until it turns around and we keep the PM bull market going.
Theres another cool spread I've been using, which is a modified Jade Lizard; if already hold shares, I'll sell a put, sell a covered call, and use some of the premium to buy a longer dated call. Ive been running this on AG mostly.
I have a few more spreads I can show you but Im tired now so it'll have to wait for later.
As I said multiple times, I do intend to trim these miners later but now isnt the time for that IMO. I'm also monitoring this almost full time since I have an injury and have nothing better to do until I heal :p
submitted by ChudBuntsman to pmstocks [link] [comments]

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