Is blockchain living up to the hype?

Posted by & filed under bitcoin, blockchain.

As we approach Bitcoin’s 10th anniversary at the end of this month, we ask whether blockchain – the technology underpinning the cryptocurrency – is fulfilling its promise, or a tech still looking for a better reason to exist. There have been some very grandiose claims made about blockchain. Source: BBC Business Technology Date: November 30th, 2018 Link:… Read more »

Bitcoin Mining Now Consuming More Electricity Than 159 Countries

Posted by & filed under bitcoin.

Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst.   However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity consumption… Read more »

Bitcoin mining could cancel out climate change efforts, scientists say

Posted by & filed under bitcoin, Consumer Technology, Crypto currency, Data center.

The Hut 8 bitcoin mine in Medicine Hat, Alta., uses as much electricity on a typical day as the entire city of 60,000, and most of the electricity is produced by fossil fuels. Source: CBC News Date: November 2nd, 2018 Link: Discussion 1) Do you understand what “bitcoin mining” is?  If not, I have an article here:… Read more »

How blockchain, the technology behind bitcoin, could change your life

Posted by & filed under bitcoin, blockchain.

  Digital evangelists believe that the blockchain could revolutionize everything from legal contracts to the way we use the internet.  The trouble is, most people still don’t really know what the blockchain actually is, aside from being associated with the hyped — and volatile — digital currency bitcoin. Given the current cryptocurrency market, that has made blockchain a hot commodity…. Read more »

Step inside Hamilton’s massive cryptocurrency mining lab

Posted by & filed under bitcoin.

From the outside, the company’s building looks unassuming. But as soon as you step inside, a wall of heat slams into you. Then comes the noise — the sound of hundreds of fans, trying to control the extreme temperature being thrown off by rows and rows of powerful computers sitting on utilitarian warehouse shelving, all working… Read more »

What Do Cryptocurrencies Have to Do with Trust?

Posted by & filed under bitcoin.

Bitcoin and other “cryptocurrencies” have been much in the news lately, in part because of their wild gyrations in value. Michael Lee and Antoine Martin, economists in the New York Fed’s Money and Payment Studies function, have been following cryptocurrencies and agreed to answer some questions about digital money. Source: Federal Reserve Bank of New York… Read more »

Kodak shares surge 117% after company announces new KodakCoin cryptocurrency

Posted by & filed under bitcoin, Crypto currency.

Shares in iconic film company Eastman Kodak rose by 117 per cent on Tuesday as the company announced plans to put out a cryptocurrency built on blockchain technology that will help photographers share and licence their work in exchange for payment. Kodak announced a partnership with technology firm Wenn Digital to create KodakOne, an image rights management platform that… Read more »

China Quietly Orders Closing of Bitcoin Mining Operations

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Bitcoin can’t catch a break in China.  Chinese authorities ordered the closing of operations that create a large share of the world’s supply of bitcoin, tightening a clampdown that has already shuttered exchanges for the trading of cryptocurrencies in China.  A multiagency government task force overseeing risks in Internet finance issued a notice last week ordering local authorities… Read more »

Bitcoin Cash deals frozen as insider trading is probed

Posted by & filed under bitcoin, Crypto currency.

One of the US’s leading crypto-currency exchanges is carrying out an insider trading investigation.  Coinbase fears its own workers may have exploited its move into Bitcoin Cash – a spin-off of the original Bitcoin.  The San Francisco-based firm announced the move after Bitcoin Cash’s price jumped.  Coinbase began letting its users buy, sell, send and receive Bitcoin Cash on Tuesday… Read more »