First of all, my threat model: I'm just an average person that wants to AVOID the maximum I can to be monitored and tracked by the government and big corps, a lot of people out there REALLY hate me and I've gone through lots of harassment and other stuff, I also plan to take my activism and love for freedom more seriously and to do stuff that could potentially lead me to very high danger or even put my life on the line. That being said, my main focus is on something that is privacy-friendly but also something with decent security (no point having a lot of privacy if a script kiddie can just break into it an boom, everything is gone) anonymity is also desirable but I'm pretty aware that true 100% anonymity is simply not possible and to achieve the maximum you can of it currently you'd have to give up A LOT of stuff in which I don't think I really could. So basically, everything that I said + I don't want to give up some hobbies of mine (as playing games etc) submitted by
Here's what I use/have done so far, most of it is based on privacytools.io list and research I've done.
Google Pixel 3a XL running GrapheneOS
Apps: Stock apps (Vanadium, Gallery, Clock, Contacts etc) + F-DROID, NewPipe, OsmAnd+, Joplin, Tutanota, K-9 Mail, Aegis Authenticator, KeePassDX, Syncthing, Signal, Librera PRO, Vinyl, Open Camera and Wireguard.
I also use BlahDNS as my private DNS.
Other smartphone stuff/habits: I use a Supershieldz Anti Spy Tempered Glass Screen Protector on my phone and I also have a Faraday Sleeve from Silent Pocket which my phone is on most of the times (I don't have smartphone addiction and would likely advice you to break free from smartphone addiction if you have it). I NEVER use bluetooth (thank god Pixel 3a have a headphone jack so yeah, no bluetooth earphones here) and always keep my Wi-Fi off if I'm not using it.
I have a desktop that I built (specs: Asus B450M Gaming, AMD Ryzen 3 3300X, Radeon RX 580 8GB, 16GB DDR4 2666Mhz, 3TB HDD, 480GB SSD) that is dualbooted with QubesOS and Arch Linux.
Qubes is my main OS that I use as daily driver and for my tasks, I use Arch for gaming.
I've installed linux-hardened and its headers packages on my Arch + further kernel hardening using systctl and boot parameters, AppArmor as my MAC system and bubblewrap for sandboxing programs. I also spoof my MAC address and have restricted root access, I've also protected my GRUB with password (and use encrypted boot) and have enabled Microcode updates and have NTP and IPV6 disabled.
Also on Arch, I use iptables as a firewall denying all incoming traffic, and since it's my gaming PC, I don't game on the OS, instead, I use a KVM/QEMU Windows VM for gaming (search "How I Built The "Poor-Shamed" Computer" video to see what I'm talking about) I also use full disk encryption.
E-Mails: I use ProtonMail (Plus Account paid with bitcoin) and Tutanota (free account as they don't accept crypto payment yet, come on Tutanota, I've been waiting for it for 2 years already) since I have plus account on ProtonMail it allows me to use ProtonMail Bridge and use it on Claws Mail (desktop) and K-9 Mail (mobile) as for Tutanota I use both desktop and mobile app.
Some other e-mails habits of mine: I use e-mail aliases (ProtonMail plus account provides you with 5) and each alias is used for different tasks (as one for shopping, one for banking, one for accounts etc) and none of my e-mails have my real name on it or something that could be used to identify me. I also highly avoid using stuff that require e-mail/e-mail verification for usage (e-mail is such a pain in the ass tbh) I also make use of Spamgourmet for stuff like temporary e-mail (best service I found for this doing my research, dunno if it's really the best tho, heard that AnonAddy does kinda the same stuff but dunno, recommendations are welcomed)
Browsers/Search Engine: As mentioned, I use Vanadium (Graphene's stock browser) on mobile as it is the recommended browser by Graphene and the one with the best security for Android, for desktop I use a Hardened Firefox (pretty aware of Firefox's security not being that good, but it's the best browser for PC for me as Ungoogled Chromium is still not there in A LOT of things + inherent problems of Chrome as not being able to disable WebRTC unless you use an extension etc) with ghacks-user.js and uBlock Origin (hard mode), uMatrix (globally blocking first party scripts), HTTPS Everywhere (EASE Mode), Decentraleyes (set the recommended rules for both uBlock Origin and uMatrix) and Temporary Containers as addons. I also use Tor Browser (Safest Mode) on a Whonix VM on Qubes sometimes. DuckDuckGo is my to-go search engine and I use DNS over HTTPS on Firefox (BlahDNS as my provider once again)
VPN: I use Mullvad (guess you can mention it here since it's PTIO's recommended) paid with bitcoin and honestly best service available tbh. I use Mullvad's multihop implementation on Wireguard which I manually set myself as I had the time and patience to learn how.
password manager: KeePassXC on desktop and KeePassDX on my smartphone, my password database for my desktop is stored on a USB flash driver I encrypted with VeraCrypt.
some other software on desktop: LibreOffice (as a Microsoft Office substitute), GIMP (Photshop substitute), Vim (I use it for multiple purposes, mainly coding IDE and as a text editor), VLC (media player), Bisq (bitcoin exchange), Wasabi (bitcoin wallet), OBS (screen recording), Syncthing (file sync), qBitTorrent (torrent client) and Element (federated real-time communication software). I sadly couldn't find a good open-source substitute to Sony Vegas (tested many, but none was in the same level of Vegas imo, KDENLive is okay tho) so I just use it on a VM if I need it (Windows VM solely for the purpose of video editing, not the same one I use for gaming)
router: I have an Asus RT-AC68U with OpenWRT as its firmware. I also set a VPN on it.
cryptocurrency hardware wallet: I store all of my cryptocurrency (Bitcoin and Monero) on a Ledger Nano S, about 97% of my money is on crypto so a hardware wallet is a must for me.
I have lots of USB flash drivers that I use for Live ISOs and for encrypted backups. I also have a USB Data Blocker from PortaPow that I generally use if I need to charge my cellphone in public or in a hotel while on a trip (rare occasion tbh).
I have a Logitech C920e as webcam and a Blue Yeti microphone in which I never let them plugged, I only plug them if it's necessary and after I'm done I just unplug them.
I also have a Nintendo Switch Lite as a gaming console that I most of the times just use offline, I just connect to the internet if needed for a software update and then just turn the Wi-Fi off from it.
Other Habits/Things I've done:
payments: I simply AVOID using credit card, I try to always pay on cash (I live in a third-world country so thank god most of people here still depend on cash only) physically and online I try my best to either by using cryptocurrency or using gift cards/cash by mail if crypto isn't available. I usually buy crypto on Bisq as I just don't trust any KYC exchange (and neither should you) and since there aren't many people here in my area to do face to face bitcoin trade (and I'm skeptical of face to face tbh), I use the Wasabi Wallet (desktop) to coinjoin bitcoin before buying anything as this allows a bit more of privacy, I also coinjoin on Wasabi before sending my bitcoins to my hardware wallet. I also don't have a high consumerism drive so I'm not constantly wanting to buy everything that I see (which helps a lot on this criteria)
social media/accounts: as noted, aside from Signal and Element (which I don't even use that often) I just don't REALLY use any social media (tried Mastodon for a while but I was honestly felt it kinda desert there and most of its userbase from what I've seen were some people I'd just... rather don't hang with tbh) and, althoug not something necessary is something that I really advise people to as social media is literally a poison to your mind.
I also don't own any streaming service like Netflix/Amazon Prime/Spotify etc, I basically pirate series/movies/songs and that's it.
I've also deleted ALL my old accounts from social media (like Twitter etc) and old e-mails. ALL of my important and main accounts have 2FA enabled and are protected by a strong password (I use KeePass to generate a 35 character lenght password with numbers, capital letters, special symbols etc, each account uses a unique password) I also NEVER use my real name on any account and NEVER post any pictures of myself (I rarely take pictures of stuff if anything)
iot/smart devices: aside from my smartphone, I don't have any IOT/smart device as I honestly see no need for them (and most of them are WAY too expensive on third-world countries)
files: I constatly backup all of my files (each two weeks) on encrypted flash drivers, I also use BleachBit for temporary data cleaning and data/file shredding. I also use Syncthing as a substitute to stuff like Google Drive.
learn to self-host and self-host an e-mail/NextCloud (and maybe even a VPN)
find something like BurneHushed but FOSS (if you know any please let me know)
So, how is it? anything that I should do that I'm probably not doing?
Bring up the file, I clicked play. The footage began, revealing its contents inside the ventilation shafts, winding it to the ventilation in the heads. Quinton also brushed up against me, watching in anticipation, brushing up against me in surprise.
"And so it ends here," Quinton exclaimed, his eyes kept on the video, withdrawing his senior sailor issued shotgun, "I'm going to shoot that bastard."
A muffled screech, and we watched at the screen, as the ventilation panel cover popped off and was removed by a gloved hand. A skinny man crawled in, identity hidden by the gariny footage.
"Goddamit, can they not afford good cameras," an exasperated Quinton said.
"Shut up," I shot back, "I want to watch this."
"Me too, aye sir." We watched as the figure unscrewed the other shaft, as the black jacket covering his uniform twisted. Finally, one of its zippers ripped open, revealing the naval camoflauge around it. Viktor.
That nametag was indistingushable - the Eastern European name was unmistakably him. Out of nowhere, a pistol being cocked, as its hammer sprang forward slamming the spring. We had been caught.
"So, a bit of late night espionage?" he said menacingly. I watched as Quinton slowly turned around, and using his hands, flicked the pistol to the floor, the background filled with crashing waves.
That's when a I realised that the ship arrives in port tommorow at this time. Quinton masterfully jumped up, knocking Viktor, dressed in the black jacket rammed Quinton across.
"HEY! SOMEONE!" I yelled, trying to draw and brandish my own pistol, flicking the safety switch. "I already gassed all of them. Painlessly," Viktor said unemotionally and coldly as he ran into Quinton again, knocking him to the ground.
Aiming the pistol, I squeezed the trigger. Viktor rammed Quinton, and stomped on him, keeping his boot squeezed against his stomach, before holding out a firing pin, etched with my serial number.
"I also already tampered with your pistol. You went on. Carelessly," he said as he smirked. That's when he raised his pistol, and shot Quinton. Quinton jarred, his mouth open, and fell back cracking his head on the floor. I inched back, trying desperately to press it, hoping he was fluking, as he laughed with insidious intent.
"I control this ship!" he screamed triumphantly, "and when this ship sails into port tommorow, it is I who shall be the hero! You shall be the criminal!" he continued, "And while you are renditioned to Pine Gap, and waterboarded endlessly, I shall rise up!" he boomed with a final screeching laughter, before kicking me in the face and slamming my head into the ground.
"Why? Why?" I tried to say, as my mouth started to swell.
"How well do you know me?" he started off with.
"I know you now better than I'll ever do," I groaned in pain. "Why do you think I am doing this?" he laughed. "Because you're evil," I replied with, earning me another kick, this time in the stomach sending me yelling out all sorts of obscenities.
"Do you know what you have done?" he yelled in anger, "the Australian Government has betrayed me! Forgotten me! A long time ago, I was a commando! I served in Africa, in the Middle East! And then they forgot about me! I had to find my way back! And do you know what they have given me? Nothing!"
"And so you steal a navy ship and murder 20 people," I muttered.
"I will be remembered. I will be victorious! I shall use my power to abuse the brass who had abused me 5 years ago! You read through my file! You know my abilities!"
"You're also a high school drop out," I shot back. "Intelligence... does not rely on human intelligence!" the demented madman screamed out, busy shouting in all his self glory as he cheered, "We will arrive in Cairns tommorow! You will be escorted out in handcuffs! You will admit to your crimes in front of the Port Inspector and the Naval Police!"
"What if they review the footage?" I questioned him.
"They won't," came an iron voice booming from the intercom. The voice of my very own commander - Captain Daniels.
"You never heard anything," Viktor said, as I wallowed in my defeat, "right, James?"
"I never would've taken you, out of all people, as a traitor! That's why you placed him on my cabin guard! That's why I've been thumping into him as he-"
"Yes, Commander. He has been trying to pick your locks. He's been eavesdropping, listening to you," the Captain replied calmly. I saw his face on video call, his hands obscuring the sides webcam on his computer. A thin, wiry tall man in navy whites, sitting comfortably on his office desk, earning is $40 a hour payslip, with an oblivious number of personnel working around him probably trying to solve this situation. "
Why?" I screamed at the computer, slurring my speech, unable to form words as blood started to come from my mouth. A cut flap of my tough interferred in my speech.
"Because I too, am horrified at Viktor's mistreatment. And also, I would also like to be a hundred thousand dollars richer. Has that money been transferred?" he said.
"Yes. Check your offshore for one half, and your bitcoin wallet for the other half. All 100,000 AUD worth of currency." They both began to laugh, torturing my senses. They were responsible for the death of all of my crew. And here I was, injured, basking in my hopelessness and guilt. That's when I saw Quintons boatswains pipe. Grabbing it, while they were still distracted, I made my move.
"Hm?" he said as he looked over. I leaped, and I thrust the boatswain pipe into his hip, laughing at his screaming, before jabbing it up his nose, and releasing it as I heard his nose snapping at my force, before pushing myself off. He picked up his pistol and fired it, hitting the communications broadcaster. I ran out of the room, slamming the door, watching as he blindly fired into all of the computers, screaming in frustration, disconnecting the swearing Captain, rendering the intercoms to silence. He ran out, reloading, when I dismounted a fire extinguisher and swung it against his chest, missing his head, smashing the glass on the door.
Ripping off the tags with my already somewhat dislodged teeth, I slammed the lever and sprayed the powdery and foamy solution onto him, as he slid down the stairs and slid down the hall, slamming through the doors and into the other room. Picking up the shard of glass, I ripped off a ventilation panel cover, and breathed in as I climbed through, and slid the cover back on, listening to his howling cries of pain and determination. Inside the vent, I breathed out, and talked aloud in relative safety.
"It was time to finish this," I muttered as I began to wait in anticipation
PART 1: https://www.reddit.com/nosleep/comments/ivmvw3/someone_has_been_killed_aboard_my_ship_and_the/
PART 2: https://www.reddit.com/nosleep/comments/iw8ncc/someone_has_been_killed_aboard_my_ship_and_the/
PART 3 - https://www.reddit.com/nosleep/comments/iwvnp9/someone_has_been_killed_aboard_my_ship_and_the/
FINALE - https://www.reddit.com/nosleep/comments/iy6mkl/someone_has_been_killed_aboard_my_ship_and_the/
The one thousand universes are:
Real Life, Super Mario, The Legend of Zelda, Pokemon, Sonic the Hedgehog, Crash Bandicoot, Halo, Call of Duty, Earthbound, Five Nights at Freddy’s, DC, Marvel, Ghostbusters, Pac-Man, Mega Man, Bomberman, The Lego Movie, Scooby-Doo, Super Meat Boy, Memes, Wreck-it Ralph, Skylanders, The A-Team, Knight Rider, The Goonies, Mortal Kombat, Street Fighter, Blend S, Vocaloid, UTAU, Spyro the Dragon, The Simpsons, Futurama, Harry Potter, Fantastic Beasts and Where to Find Them, The Lord of the Rings, Mission, Impossible, Gremlins, Gnomeo and Juliet, Powerpuff Girls, Powerpuff Girls Z, Beetlejuice, My Little Pony Friendship Is Magic, My Little Pony Equestria Girls, Black Rock Shooter, Lego Dimensions, Portal, Plants Vs Zombies, Machinarium, Rock 'em Sock 'em Robots, Baldi’s Basics, Puzzle Puppers, Crane Game Toreba, Snipperclips, Puyo Puyo, Kirby, Lego City Undercover, Ninjago, Legends of Chima, Nexo Knights, Diary of a Wimpy Kid, Poptropica, Resident Evil, Peanuts, Robot Chicken, Scribblenauts, Splatoon, ARMS, Bee Movie, Shrek, Octopath Traveler, Bubsy, Drawn To Life, Drawn Together, Toy Story, A Bug’s Life, Finding Nemo, Wall-E, The Good Dinosaur, Inside Out, Captain Underpants, Timmy Failure, Spongebob Squarepants, The Loud House, The Fairly OddParents, Invader Zim, Cow & Chicken, Samurai Jack, Adventure Time, Regular Show, Steven Universe, Clarence, Uncle Grandpa, Plague Inc., Sailor Moon, Ghost Trick, Ace Attorney, Professor Layton, Looney Tunes, Yu Gi Oh, Beyblade, Yo-Kai Watch, Cars, Team Fortress, Half Life, The Sims, Cory In The House, Annoying Orange, My Hero Academia, Mr. Peabody and Sherman, E.T. The Extra Terrestrial, Back to the Future, Rick & Morty, Family Guy, Doki Doki Literature Club, Angry Birds, Fruit Ninja, Jetpack Joyride, Out There, Akinator, Dragon Ball, Super Smash Bros, Star Wars, Charlie and the Chocolate Factory, Lonely Wolf Treat, Syrup and the Ultimate Sweet, First Kiss as a Spooky Soiree, Contract Demon, Romance Detective, Tunnel Vision, KAIMA, Her Tears Were My Light, Mermaid Splash Passion Festival, The Twilight Zone, Disaster Log C, Yandere Simulator, Yanderella, Mikoto Nikki, Mix Ore, The Dark Side of Red Riding Hood, Makoto Mobius, You Me And Empty Words, Shihori Escape, Tsukimi Planet, Full Boko Youchien, Love Live, Menherafflesia, Roco Kingdom, Seer, Mole’s World, Hawaiian Slammers, Planes, Frozen, Tangled, One Piece, Fairy Tail, Naruto, Shin Megami Tensei, Persona, Digimon, No Matter How I Look At It It’s You Guy’s Fault I’m Not Popular!, I Can’t Believe My Little Sister is This Cute, THE [email protected]
, High School DxD, Hihi Puffy Ami Yumi Show, Momoe Link, Minecraft, Locked Heart, Confess my Love, Transparent Black, Nintendo Badge Arcade, Swapnote, World of Goo, Rayman, Little Inferno, Amazing Alex, Banjo - Kazooie, Yooka-Laylee, Sly Cooper, RWBY, Despicable Me, Nomad of Nowhere, Bravest Warriors, Xenoblade Chronicles, Punch Out!!, Contra, Silent Hill, Tokimeki Memorial, Spelunker, Spelunky, Zork, Bit Trip, VVVVVV, Runman Race Around the World, N, Princess Tomato in the Salad Kingdom, Hitman, Tomb Raider, Metal Gear, Fire Emblem, Animal Crossing, Metroid, Gradius, Zone of the Enders, I Wanna Be The Guy, Jumper, Braid, Alien Hominid, Castle Crashers, Charlie Murder, The Emoji Movie, Castlevania, Animator vs Animation, Brave, Hello Neighbor, The Storey Treehouse, Wacky Game Jokez 4 Kidz, The Nightmare Before Christmas, Bayonetta, Mii, Wario, Donkey Kong, Yoshi, Unikitty!, Sword Art Online, Squid Girl, Slenderman, The Flintsones, The Berenstain Bears, The Jetsons, Okami, Sushi Striker Way of the Sushido, Shovel Knight, Kid Icarus, Jurassic Park, Tom Gates, Art Academy, Fortnite, PLAYERUNKNOWN’S BATTLEGROUNDS, Fallout, The Land Before Time, Doctor Who, The Lego Batman Movie, Himegoto, Marchen Madchen, Bojack Horseman, Total Drama, Toradora, One Punch Man, Attack on Titan, Pleasant Goat and Big Big Wolf, Fullmetal Alchemist, The Wizard of Oz, Super Smosh, Alfred and Poe, Dev Guy, Valentine Panic, Seduce Me The Otome, Trick and Treat, Haruka Winter Dreams, Scratch, 9, The Problem Solverz, Animal Inspector, Liar Liar, Love or Die, MisSHAPEn Love, Pervert&Yandere, Paper Roses, BookSLEEPer, Heartbaked, Lads in Distress, Teletubbies, Thomas & Friends, The Walking Dead, The Big Bang Theory, 13 Reasons Why, F.R.I.E.N.D.S, Gumby, Gravity Falls, Welcome to the Wayne, Tom and Jerry, Baka to Test, Golden Time, Searching, Taken, Charming, Ballerina, Home Improvement, The Sandlot, Flappy Bird, Swing Copters, Turbo, Pocket Protectors, BoxBoy!, The Barefoot Bandits, Letter Quest, Overcooked, Hydlide, Oh Sir!, Taco Man Plays a Video Game, Game Gramps, Pepsiman, Gamestop, VOEZ, DEEMO, Cytus, Kitten Squad, Super Mario Logan, Dr. Stone, Bee and Puppycat, Over the Garden Wall, Star vs The Forces of Evil, Power Rangers, Danny Phantom, The Adventures of Jimmy Neutron Boy Genius, Planet Sheen, Dexter’s Laboratory, Foster's Home for Imaginary Friends, Chowder, The Amazing World of Gumball, We Bare Bears, Felix the Cat, Bendy and the Ink Machine, Outbreak Company, Tokyo Mew Mew, Puella Magi Madoka Magica, Card Captor Sakura, Ghostmates, Smosh, Bunsen is a Beast, Coco, Monsters Inc., The Incredibles, Spirited Away, Becky Prim, Kim Possible, Meet the Robinsons, The Little Mermaid, Zootopia, Taiko no Tatsujin, Alien, The Lego Ninjago Movie, Gundam, The Muppets, Alf, Neon Genesis Evangelion, The X-Files, Godzilla, Final Destination, Ice Age, Lilo and Stitch, RoboCop, The Terminator, Saw, The Purge, 50 Shades of Grey, Tron, Dead Space, Overwatch, Fatal Fury, Ratchet and Clank, Jak and Daxter, Tekken, A Boy and his Blob, Ace Combat, Master Higgins, Adventures of Lolo, Aero the Acro-bat, Ape Escape, Asteroids, Battletoads, Spooky’s House of Jumpscares, The Call of Cthulhu, Chibi-Robo, Frankenstein, Dracula, Boku no Pico, Burger Time, Citrus, Putt-Putt, Pajama Sam, Prison Tycoon, RollerCoaster Tycoon, Restaurant Empire, Frogger, Freddi Fish, Fatty Bear, Spy Fox, Gal Gun, Game & Watch, Guitar Hero, Rock Band, The Man With The Invisible Trousers, The Curious Case of Benjamin Button, Passpartout, Just Dance, Sega Hard Girls, Kinectimals, Left 4 Dead, Life is Strange, LittleBigPlanet, LovePlus, Nights, Naughty Bear, Ted, Houdini (2014 Movie), Q*bert, Pixels, Touhou Project, Toejam and Earl, The Oregon Trail, The Organ Trail, Yakuza, Mall Tycoon, Zoo Tycoon, Yukon Trail, Detention, The Nutshack, LazyTown, Purgatory, Desolate Village, The Desolate Hope, The Pilgrim’s Progress, Captain Bible, Bad Milk, Journey to the West, Death Squared, Watch_Dogs, Sleeping Dogs, Paletta, Wrecking Crew, Sara is Missing, Simulacra, Welcome to the Game, Rides with Strangers, A Normal Lost Phone, Mogeko Castle, Wadanohara and the Great Blue Sea, Little Nightmares, Little Einsteins, Sally Face, Fran Bow, Kick the Buddy, Strange Case of Dr Jekyll and Mr Hyde, Phineas and Ferb, Big Nate, Nate is Late, The Ring, Inanimate Insanity, Winx Club, Tinkerbell, Sausage Party, The Lord of the Rings, Duck Hunt, Starfox, F-Zero, Enchanted, Roblox, Hearthstone, Talking Tom, Crossy Road, Granny, The Titanic, Dexter, How I Met Your Mother, El Tigre, Mucha Lucha, The Book of Life, Cuphead, Waterworld, GradeAUnderA, Foodfight!, Cyanide and Happiness, JoJo’s Bizarre Adventure, The Grim Adventures of Billy and Mandy, The Brave Little Toaster, PlayStation, Scott Pilgrim vs The World, Club Penguin, Sonic.exe, Pivot Stick Animator, Mr. Bean, Skitzo, Captain N The Game Master, Waluigi Travels Through The Multiverse, Parappa the Rapper, God of War, Uncharted, Bioshock, Paperboy, Gauntlet, 720°, Marble Madness, Spy vs Spy, Xbox, A Kingdom for Keflings, Cloudberry Kingdom, Girls Like Robots, Can Your Pet, Snail, Snail Bob, The King’s Avatar, King’s Knight, King’s Quest, Monster Bark, Haunt the House, Detective Grimoire, Sort the Court, Wallace and Gromit, Frankenweenie, Atelier, Recetterar An Item Shop’s Tale, Tales Of, Lost Sphear, PETA, Cooking Mama, Gish, Aquaria, Owlboy, Alex Kidd, Space Channel 5, Mighty no. 9, Blaster Master, Vroom in the Night Sky, Azure Striker Gunvolt, Senran Kagura, Disgaea, The Legend of Dark Witch, Pico’s School, Riddle School, Clock Crew, Lock Legion, Steamshovel Harry, Bionicles, Hero Factory, Alien Conquest, XCOM, Chantelise, Yobi’s Basic Spelling Tricks, The House of the Dead, The Typing of the Dead, Cartoon All-Stars to the Rescue, Where’s Wally?, Where’s Waldo?, Where in the World is Carmen Sandiego, Adam Ruins Everything, South Park, The Human Centipede, CollegeHumor, Kingdom Hearts, King Kong, Friday the 13th, Nightmare on Elm Street, Edward Scissorhands, Devil May Cry, Final Fantasy, Food Wars! Shokugeki no Soma, DanTDM, Anthony Padilla, The Hunchback of Notre Dame, Teenage Mutant Ninja Turtles, Who Framed Roger Rabbit?, Angry Video Game Nerd, James Bond, Epic, Dance Dance Revolution, Edd Edd n’ Eddy, Hey Arnold, Codename Kids Next Door, Back to Backspace, Big City Greens, Danger Planet, Twelve Forever, Infinity Train, Jack & Jill (Adam Sandler), Red Dog, Air Bud, 101 Dalmations, Element Animations, The Suite Life of Zack & Cody, That’s So Raven, Milo Murphy’s Law, Even Stevens, The Adventures of Pete & Pete, Malcolm in the Middle, Hotel Transylvania, DuckTales, Elena of Avalor, Sofia the First, The Proud Family, The Emperor’s New Groove, American Dragon Jake Long, Fanboy & Chum Chum, Fish Hooks, Smart House, Invisible Dad, Tender Loving Care, My Magic Dog, Boy Meets World, Sabrina the Teenage Witch, Shorty Mc Shorts’ Shorts, Shezow, Call of Duty Dog, Sonic for Hire, Video Game Violence Saves the World from Violent Video Games, Doge, Nyan Cat, Wolfychu, Lilypichu, Emirichu, TheOdd1sOut, Domics, Jaiden Animations, Game Theory, Dorkly, Pokemon Rusty, The Greatest Showman, Doodle Jump, Happy Jump, Seen, Color Switch, Agar.io, Slither.io, Cookie Clicker, Donut County, Bitcoin Billionaire, Paper.io, Highschool Romance, Highschool Possession, Nekopara, Ren'Py, Voltron Legendary Defender, Wander Over Yonder, Kablam!, Doug, Avatar The Last Airbender, The Legend of Korra, Garfield, Calvin & Hobbes, Lego DC, Lego Friends, FL Studio, R.O.B., The Texas Chainsaw Massacre, Ice Climber, Captain Commando, Dr. Horrible’s Sing-Along Blog, Papers Please, Blocksworld, Ironpants, Happy Wheels, The Truman Show, EdTV, Duck Life, The Average Everyday Adventures of Samantha Browne, Cinderella Phenomenon, Our Home (visual novel), A Day in the Life of a Slice of Bread, a(t)rium, Date (almost) Anything Simulator, [email protected]
, Stalker & Yandere, Tealy & Orangey, Geometry Dash, Duck Season, Ginosaji - The Horribly Slow Murderer with the Extremely Inefficient Weapon, McDonald’s, Karate Kid, Llamas with Hats, The Misfortune of Being Ned, Super Hexagon, Perfect Dark, Devil World, Balloon Fight, h3h3Productions, Gnoggin, Yo Gabba Gabba, Crazy Frog, Angels of Death, Imaginary Friends (RPG), Cherry Tree High Comedy Club, Pony Island, HuniePop, Tattletail, Corpse Party, Friendship (RPG), Aria’s Story, 1bitheart, Leftway, Tim’s Birthday, Ib, GLITCHED, Amnesia, The Stanley Parable, Long Live the Queen, Draw a Stickman, QWOP, GIRP, Papa’s Games, Whale Trail, 5 Minutes to Kill Yourself, Doodle God, Free Icecream, The Fancy Pants Adventures, Fireboy & Watergirl, 60 Seconds, 60 Parsecs, Getting Over It, Sexy Hiking, I Am Bread, Surgeon Simulator, RapeLay, Mister Mosquito, Cubivore, Custer’s Revenge, Pizza Chef (Atari 2600), Postal, Hatred, Leisure Suit Larry, Jones in the Fast Lane, Manhunt, Hatoful Boyfriend, Bully, Night Trap, Mass Effect, House Party, Who’s Your Daddy, Second Life, Shower With Your Dad Simulator 2015, What’s Under Your Blanket!?, Battle Raper, The Maiden Rape Assault - Violent Semen Inferno, Hetalia, Ouran High School Host Club, Rinse and Repeat, DeviantArt, Mystic Messenger, Moemon, Segagaga, Football Manager, CrossFire, Flicky, Captain Novolin, Sega Bass Fishing, Hiragana Pixel Party, Captain Rainbow, The Wonderful 101, The Elder Scrolls, Caller’s Bane, Cobalt, Candy Crush, Sharknado, Who Killed Captain Alex, Archie Comics, Smokey Bear, McGruff the Crime Dog, Neighbours from Hell, Neighbors from Hell, Danganronpa, VeggieTales, Oshi High School Battle, Teleporting Fat Guy (Animated Series), Smosh Babies, Planets (Shut Up! 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Found this on Thedouchebaggenie
It is no doubt Grayscale’s booming popularity as a mainstream investment has caused a lot of community hullabaloo lately. As such, I felt it was worth making a FAQ regarding the topic. I’m looking to update this as needed and of course am open to suggestions / adding any questions. The goal is simply to have a thread we can link to anyone with questions on Grayscale and its products
. Instead of explaining the same thing 3 times a day, shoot those posters over to this thread. My hope is that these questions are answered in a fairly simple and easy to understand manner. I think as the sub grows it will be a nice reference point for newcomers.
Disclaimer: I do NOT work for Grayscale and as such am basing all these answers on information that can be found on their website / reports. (Grayscale’s official FAQ can be found here).
I also do NOT have a finance degree, I do NOT have a Series 6 / 7 / 140-whatever, and I do NOT work with investment products for my day job. I have an accounting background and work within the finance world so I have the general ‘business’ knowledge to put it all together, but this is all info determined in my best faith effort as a layman. The point being is this --- it is possible I may explain something wrong or missed the technical terms, and if that occurs I am more than happy to update anything that can be proven incorrect Everything below will be in reference to ETHE but will apply to GBTC as well. If those two segregate in any way, I will note that accordingly.
What is Grayscale?
Grayscale is the company that created the ETHE product. Their website is https://grayscale.co/
What is ETHE?
ETHE is essentially a stock that intends to loosely track the price of ETH. It does so by having each ETHE be backed by a specific amount of ETH that is held on chain. Initially, the newly minted ETHE can only be purchased by institutions and accredited investors directly from Grayscale. Once a year has passed (6 months for GBTC) it can then be listed on the OTCQX Best Market exchange for secondary trading. Once listed on OTCQX, anyone investor can purchase at this point. Additional information on ETHE can be found here.
So ETHE is an ETF?
No. For technical reasons beyond my personal understandings it is not labeled an ETF. I know it all flows back to the “Securities Act Rule 144”, but due to my limited knowledge on SEC regulations I don’t want to misspeak past that. If anyone is more knowledgeable on the subject I am happy to input their answer here.
How long has ETHE existed?
ETHE was formed 12/14/2017. GBTC was formed 9/25/2013.
How is ETHE created?
The trust will issue shares to “Authorized Participants” in groups of 100 shares (called baskets). Authorized Participants are the only persons that may place orders to create these baskets and they do it on behalf of the investor.
Source: Creation and Redemption of Shares
section on page 39 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Note – The way their reports word this makes it sound like there is an army of authorizers doing the dirty work, but in reality there is only one Authorized Participant. At this moment the “Genesis” company is the sole Authorized Participant. Genesis is owned by the “Digital Currency Group, Inc.” which is the parent company of Grayscale as well. (And to really go down the rabbit hole it looks like DCG is the parent company of CoinDesk and is “backing 150+ companies across 30 countries, including Coinbase, Ripple, and Chainalysis.”)
Source: Digital Currency Group, Inc.
informational section on page 77 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
Source: Barry E. Silbert
informational section on page 75 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
How does Grayscale acquire the ETH to collateralize the ETHE product?
An Investor may acquire ETHE by paying in cash or exchanging ETH already owned.
- Cash: The investor pays the subscription amount in cash and the Authorized Participant will use that cash to purchase ETH.
- ETH: The investor transfers the ETH to the Authorized Participant, which will contribute the ETH in-kind to the Trust.
Source: Creation and Redemption of Shares
section on page 40 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Where does Grayscale store their ETH? Does it have a specific wallet address we can follow?
ETH is stored with Coinbase Custody Trust Company, LLC. I am unaware of any specific address or set of addresses that can be used to verify the ETH is actually there.
As an aside - I would actually love to see if anyone knows more about this as it’s something that’s sort of peaked my interest after being asked about it… I find it doubtful we can find that however.
Source: Part C. Business Information, Item 8, subsection A.
on page 16 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Can ETHE be redeemed for ETH?
No, currently there is no way to give your shares of ETHE back to Grayscale to receive ETH back. The only method of getting back into ETH would be to sell your ETHE to someone else and then use those proceeds to buy ETH yourself.
Source: Redemption Procedures
on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Why are they not redeeming shares?
I think the report summarizes it best:
Redemptions of Shares are currently not permitted and the Trust is unable to redeem Shares. Subject to receipt of regulatory approval from the SEC and approval by the Sponsor in its sole discretion, the Trust may in the future operate a redemption program. Because the Trust does not believe that the SEC would, at this time, entertain an application for the waiver of rules needed in order to operate an ongoing redemption program, the Trust currently has no intention of seeking regulatory approval from the SEC to operate an ongoing redemption program.
Source: Redemption Procedures
on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the fee structure?
ETHE has an annual fee of 2.5%. GBTC has an annual fee of 2.0%. Fees are paid by selling the underlying ETH / BTC collateralizing the asset.
Source: ETHE’s informational page on Grayscale’s website - Located Here
Source: Description of Trust
on page 31 & 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the ratio of ETH to ETHE?
At the time of posting (6/19/2020) each ETHE share is backed by .09391605 ETH. Each share of GBTC is backed by .00096038 BTC.
ETHE & GBTC’s specific information page on Grayscale’s website updates the ratio daily – Located Here
For a full historical look at this ratio, it can be found on the Grayscale home page
on the upper right side if you go to Tax Documents > 2019 Tax Documents > Grayscale Ethereum Trust 2019 Tax Letter.
Why is the ratio not 1:1? Why is it always decreasing?
While I cannot say for certain why the initial distribution was not a 1:1 backing, it is more than likely to keep the price down and allow more investors a chance to purchase ETHE / GBTC.
As noted above, fees are paid by selling off the ETH collateralizing ETHE. So this number will always be trending downward as time goes on.
Source: Description of Trust
on page 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
I keep hearing about how this is locked supply… explain?
As noted above, there is currently no redemption program for converting your ETHE back into ETH. This means that once an ETHE is issued, it will remain in circulation until a redemption program is formed --- something that doesn’t seem to be too urgent for the SEC or Grayscale at the moment. Tiny amounts will naturally be removed due to fees, but the bulk of the asset is in there for good.
Knowing that ETHE cannot be taken back and destroyed at this time, the ETH collateralizing it will not be removed from the wallet for the foreseeable future. While it is not fully locked in the sense of say a totally lost key, it is not coming out any time soon.
Per their annual statement:
The Trust’s ETH will be transferred out of the ETH Account only in the following circumstances: (i) transferred to pay the Sponsor’s Fee or any Additional Trust Expenses, (ii) distributed in connection with the redemption of Baskets (subject to the Trust’s obtaining regulatory approval from the SEC to operate an ongoing redemption program and the consent of the Sponsor), (iii) sold on an as-needed basis to pay Additional Trust Expenses or (iv) sold on behalf of the Trust in the event the Trust terminates and liquidates its assets or as otherwise required by law or regulation.
Source: Description of Trust
on page 31 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Grayscale now owns a huge chunk of both ETH and BTC’s supply… should we be worried about manipulation, a sell off to crash the market crash, a staking cartel?
First, it’s important to remember Grayscale is a lot more akin to an exchange then say an investment firm. Grayscale is working on behalf of its investors to create this product for investor control. Grayscale doesn’t ‘control’ the ETH it holds any more then Coinbase ‘controls’ the ETH in its hot wallet. (Note: There are likely some varying levels of control, but specific to this topic Grayscale cannot simply sell [legally, at least] the ETH by their own decision in the same manner Coinbase wouldn't be able to either.)
That said, there shouldn’t be any worry in the short to medium time-frame. As noted above, Grayscale can’t really remove ETH other than for fees or termination of the product. At 2.5% a year, fees are noise in terms of volume. Grayscale seems to be the fastest growing product in the crypto space at the moment and termination of the product seems unlikely. IF
redemptions were to happen tomorrow, it’s extremely unlikely we would see a mass exodus out of the product to redeem for ETH. And even if there was incentive to get back to ETH, the premium makes it so that it would be much more cost effective to just sell your ETHE on the secondary market and buy ETH yourself. Remember, any redemption is up to the investors and NOT something Grayscale has direct control over.
Yes, but what about [insert criminal act here]…
Alright, yes. Technically nothing is stopping Grayscale from selling all the ETH / BTC and running off to the Bahamas (Hawaii?). BUT there is no real reason for them to do so. Barry is an extremely public figure and it won’t be easy for him to get away with that. Grayscale’s Bitcoin Trust creates SEC reports weekly / bi-weekly and I’m sure given the sentiment towards crypto is being watched carefully. Plus, Grayscale is making tons of consistent revenue and thus has little to no incentive to give that up for a quick buck.
That’s a lot of ‘happy little feels’ Bob, is there even an independent audit or is this Tether 2.0?
Actually yes, an independent auditor report can be found in their annual reports. It is clearly aimed more towards the financial side and I doubt the auditors are crypto savants, but it is at least one extra set of eyes. Auditors are Friedman LLP – Auditor since 2015.
Source: Independent Auditor Report
starting on page 116 (of the PDF itself) of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
As mentioned by user TheCrpytosAndBloods (In Comments Below), a fun fact:
The company’s auditors Friedman LLP were also coincidentally TetheBitfinex’s auditors until They controversially parted ways in 2018 when the Tether controversy was at its height. I am not suggesting for one moment that there is anything shady about DCG - I just find it interesting it’s the same auditor.
“Grayscale sounds kind of lame” / “Not your keys not your crypto!” / “Why is anyone buying this, it sounds like a scam?”
Welp, for starters this honestly is not really a product aimed at the people likely to be reading this post. To each their own, but do remember just because something provides no value to you
doesn’t mean it can’t provide value to someone else.
That said some of the advertised benefits are as follows:
- Access to trading within a tax advantaged retirement account
- Institutions can easily and safely get exposure to crypto in a more legal-friendly manner
- Ease of use for those who are not very technologically savvy
- Ease of access for someone who doesn’t want to set up a Coinbase account
- Perceived trust in institutional platforms over something like Coinbase or Kraken
- Degen traders who just want access to the volatility ETHE provides that have no interest in crypto beyond that
So for example, I can set up an IRA at a brokerage account that has $0 trading fees. Then I can trade GBTC and ETHE all day without having to worry about tracking my taxes. All with the relative safety something like E-Trade provides over Binance.
As for how it benefits the everyday ETH holder? I think the supply lock is a positive. I also think this product exposes the Ethereum ecosystem to people who otherwise wouldn’t know about it.
Why is there a premium? Why is ETHE’s premium so insanely high compared to GBTC’s premium?
There are a handful of theories of why a premium exists at all, some even mentioned in the annual report. The short list is as follows:
- ETHE is NOT redeeming shares and as such doesn’t have an effective arbitrage mechanism
- ETHE has a 1 year wait to be sold on the secondary market, again negating the ability to effectively arbitrage the premium
- People may simply be willing to pay a premium for the benefits stated above.
Why is ETHE’s so much higher the GBTC’s? Again, a few thoughts:
- ETHE hasn’t been around as long, so there is less secondary market supply to go around
- ETHE was listed at an insanely high premium to begin with
- ETHE might simply be more popular at the moment
- Could just be sheer stupidity (investors think ETHE is a 1:1 ratio not 1:11)
Are there any other differences between ETHE and GBTC?
I touched on a few of the smaller differences, but one of the more interesting changes is GBTC is now a “SEC reporting company” as of January 2020. Which again goes beyond my scope of knowledge so I won’t comment on it too much… but the net result is GBTC is now putting out weekly / bi-weekly 8-K’s and annual 10-K’s. This means you can track GBTC that much easier at the moment as well as there is an extra layer of validity to the product IMO.
I’m looking for some statistics on ETHE… such as who is buying, how much is bought, etc?
There is a great Q1 2020 report I recommend you give a read that has a lot of cool graphs and data on the product. It’s a little GBTC centric, but there is some ETHE data as well. It can be found here hidden within the 8-K filings.
Q1 2020 is the 4/16/2020 8-K filing.
For those more into a GAAP style report see the 2019 annual 10-K of the same location.
Is Grayscale only just for BTC and ETH?
No, there are other products as well. In terms of a secondary market product, ETCG is the Ethereum Classic version of ETHE. Fun Fact – ETCG was actually put out to the secondary market first. It also has a 3% fee tied to it where 1% of it goes to some type of ETC development fund.
In terms of institutional and accredited investors, there are a few ‘fan favorites’ such as Bitcoin Cash, Litcoin, Stellar, XRP, and Zcash. Something called Horizion (Backed by ZEN I guess? Idk to be honest what that is…). And a diversified Mutual Fund type fund that has a little bit of all of those. None of these products are available on the secondary market.
Are there alternatives to Grayscale?
I know they exist, but I don’t follow them. I’ll leave this as a “to be edited” section and will add as others comment on what they know.
Per user Over-analyser (in comments below):
Coinshares (Formerly XBT provider) are the only similar product I know of. BTC, ETH, XRP and LTC as Exchange Traded Notes (ETN).
It looks like they are fully backed with the underlying crypto (no premium).
Denominated in SEK and EUR. Certainly available in some UK pensions (SIPP).
As asked by pegcity - Okay so I was under the impression you can just give them your own ETH and get ETHE, but do you get 11 ETHE per ETH or do you get the market value of ETH in USD worth of ETHE?
I have always understood that the ETHE issued directly through Grayscale is issued without the premium. As in, if I were to trade 1 ETH for ETHE I would get 11, not say only 2 or 3 because the secondary market premium is so high. And if I were paying cash only I would be paying the price to buy 1 ETH to get my 11 ETHE. Per page 39 of their annual statement, it reads as follows:
The Trust will issue Shares to Authorized Participants from time to time, but only in one or more Baskets (with a Basket being a block of 100 Shares). The Trust will not issue fractions of a Basket. The creation (and, should the Trust commence a redemption program, redemption) of Baskets will be made only in exchange for the delivery to the Trust, or the distribution by the Trust, of the number of whole and fractional ETH represented by each Basket being created (or, should the Trust commence a redemption program, redeemed), which is determined by dividing (x) the number of ETH owned by the Trust at 4:00 p.m., New York time, on the trade date of a creation or redemption order, after deducting the number of ETH representing the U.S. dollar value of accrued but unpaid fees and expenses of the Trust (converted using the ETH Index Price at such time, and carried to the eighth decimal place), by (y) the number of Shares outstanding at such time (with the quotient so obtained calculated to one one-hundred-millionth of one ETH (i.e., carried to the eighth decimal place)), and multiplying such quotient by 100 (the “Basket ETH Amount”). All questions as to the calculation of the Basket ETH Amount will be conclusively determined by the Sponsor and will be final and binding on all persons interested in the Trust. The Basket ETH Amount multiplied by the number of Baskets being created or redeemed is the “Total Basket ETH Amount.” The number of ETH represented by a Share will gradually decrease over time as the Trust’s ETH are used to pay the Trust’s expenses. Each Share represented approximately 0.0950 ETH and 0.0974 ETH as of December 31, 2019 and 2018, respectively.
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