Archive for the ‘bitcoin’ category

Jun 16, 2022

Bill Gates says cryptocurrency based on ‘greater fool theory’

Posted by in categories: bitcoin, cryptocurrencies

Jun 3, 2022

New York just passed a bill cracking down on bitcoin mining — here’s everything that’s in it

Posted by in categories: bitcoin, blockchains, cryptocurrencies, law, security

Following an early morning vote in Albany on Friday, lawmakers in New York passed a bill to ban certain bitcoin mining operations that run on carbon-based power sources. The measure now heads to the desk of Governor Kathy Hochul, who could sign it into law or veto it.

If Hochul signs the bill, it would make New York the first state in the country to ban blockchain technology infrastructure, according to Perianne Boring, founder and president of the Chamber of Digital Commerce. Industry insiders also tell CNBC it could have a domino effect across the U.S., which is currently at the forefront of the global bitcoin mining industry, accounting for 38% of the world’s miners.

The New York bill, which previously passed the State Assembly in late April before heading to the State Senate, calls for a two-year moratorium on certain cryptocurrency mining operations which use proof-of-work authentication methods to validate blockchain transactions. Proof-of-work mining, which requires sophisticated gear and a whole lot of electricity, is used to create bitcoin. Ethereum is switching to a less energy-intensive process, but will still use this method for at least for another few months.

Jun 1, 2022

Blockchain pioneers become main target of murderers and extortionists

Posted by in categories: bitcoin, blockchains, business, cryptocurrencies

When reading about the emerging cryptoworld and the new opportunities presented by blockchain technology, you may be enchanted by rags-to-riches stories with billions made overnight, or perhaps be horrified by scams, where the founders of fraudulent projects skip off to Tahiti with their investor’s money. However, it’s doubtful that the first thing that pops into your mind will be grizzly tales of extortion, kidnapping, and even murder. But for blockchain pioneers, falling victim to these horrific crimes is a very real risk that they must be wary about every day.

The explosive profit potential of cryptocurrencies has attracted a myriad of extortionists, scammers, and outright criminals over the years since Bitcoin was first launched in January of 2009. Some developers have had their companies’ reputations damaged by such conmen, and some have ended up beaten, kidnapped, and even killed.

One business that found itself the target of such nefarious opportunists was a Singapore-based company called Skycoin, which is still dealing with the fallout from these attacks to this day. After taking the rather innocuous decision to hire a marketing company to do PR and improve their website, the project and its co-founder found themselves caught in a web of blackmail, deceit, and crime that most people would only encounter in a crime thriller directed by Quentin Tarantino.

May 19, 2022

Personal Identity, Mind-Uploading, and the Teletransportation Paradox

Posted by in categories: bitcoin, cryptocurrencies, transportation


ETHEREUM 0x1f89b261562C8D4C14aA01590EB42b2378572164
LITECOIN LdB94n8sTUXBto5ZKt82YhEsEmxomFGz3j.
CHAINLINK 0xDF560E12fF416eC2D4BAECC66E323C56af2f6666.

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May 11, 2022

El Salvador unveils Bitcoin City plans in the middle of the market crash

Posted by in category: bitcoin

May 6, 2022

US sanctions Bitcoin laundering service used by North Korean hackers

Posted by in categories: bitcoin, cryptocurrencies, cybercrime/malcode

The U.S. Department of Treasury today sanctioned cryptocurrency mixer used last month by the North Korean-backed Lazarus hacking group to launder funds stolen from Axie Infinity’s Ronin bridge.

In the wake of the attack, Sky Mavis (the bridge’s creator) revealed that hackers breached the Ronin bridge on March 23 to steal 173,600 Ethereum and 25.5M USDC tokens in two transactions worth $617 million at the time, the largest cryptocurrency hack in history.

The previous most significant theft of cryptocurrency was the $611 million Poly Network hack in August 2021.

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May 4, 2022

Elon Musk Strikes Again: New Tweets Send Bitcoin Crashing

Posted by in categories: bitcoin, cryptocurrencies, Elon Musk, sustainability, transportation

May 1, 2022

Why a bipartisan embrace of crypto might never touch Bitcoin

Posted by in categories: bitcoin, cryptocurrencies, energy

Crypto’s biggest skeptics see plenty of reasons to criticize the industry, but generally at the heart of most complaints is a belief that crypto is contributing very little to society while burning massive amounts of energy.

While crypto’s believers could squabble over the former point until they’re blue in the face, the latter is a little harder to deny. Bitcoin uses an estimated 204.50 terawatt-hours (TWh) of electricity per year at current rates according to the oft-cited tracker built by Digiconomist, this number is equal to the power consumption of Thailand. Meanwhile Ethereum’s energy footprint is half the size but still comparable to the power consumption of Kazakhstan. In 2018 the United States reported its total consumption of electricity as 4,222.5 TWh.

For some legislators, those numbers are hard to swallow. This week, the New York State Assembly passed a bill that had team crypto up in arms. The bill blocks the formation of crypto mining firms in the state that rely on non-renewable power. It notably doesn’t apply to existing facilities. A corresponding bill is currently making its way through the Democrat-controlled state senate. everyone, and welcome back to Chain Reaction.

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Apr 30, 2022

New Idea From NASA: Trillions of Floating Balloons To Terraform Venus

Posted by in categories: bitcoin, cryptocurrencies, engineering, environmental, space

Good telescope that I’ve used to learn the basics:
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Hello and welcome! My name is Anton and in this video, we will talk about new interesting proposition on how to terraform Venus using floating continents.
#venus #terraforming #nasa.

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Apr 3, 2022

WEB3: 2Be Or Not 2Be

Posted by in categories: bitcoin, blockchains, finance

As an investor in emerging technology and a nascent observer of Web3, I’ve spent some time researching this phenomena that has brought many skeptics to the fore, in the midst of whales, and dare I say, a handful Crypto and NFT Kool-Aid drinkers, who have amassed fortunes in the process.

I get that the current web needs some serious fixing. If anything, Web2 has continued to tighten and centralize more control in the hands of Big Tech, governments, and financial institutions. The publishing industry is dying as FB and Google have all but severed the revenue streams for the Guardian, now Buzzfeed and New York Times, relegating these once-giants to plead for monthly donations to stay afloat.

The mortgage crash of 2008 gave rise to Bitcoin, with the promise to separate the financial system from the powers of a sovereign nation, effectively democratizing wealth and financial control for each individual on the planet. And while the last decade has seen an explosive growth in Bitcoin valuation, the extreme volatility within its expensive financial system has kept the mainstream at bay.

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