News: What Estcoin is for, the bear case for crypto, mining security, Bitfinex audits, NiceHash drops AMD.

  • Izabella Kaminska makes financial sense of Estcoin, the vague proposal (this appears to be the genesis) for an Estonian national cryptocurrency put forward by Kaspar Korjus, who manages Estonia’s e-residency programme. Remember that “digital nomad” is an individualistic-sounding euphemism for “the offshore financial system,” and the Estcoin proposal looks like a way for Estonia to try some regulatory arbitrage while not technically violating EU or Eurozone rules. “A country could benefit greatly from straddling both the regulated and light-touch worlds — principally by facilitating easy access from one to the other.”

  • Preston J. Byrne: The bear case for crypto. Byrne thinks the regulators are going to deal with the ICO sector sooner rather than later. Includes historical examples of the sort of thing that provokes SEC dawn raids.

  • Whoops: Nearly 3,000 Bitcoin Miners Exposed Online via Telnet Ports, Without Passwords. 2,983 ZeusMiner Thunder X3 miners, apparently part of the same pool. It turns out factory defaults can be important.

  • BitCrypto’ed discusses Bitfinex/Tether’s missing audit reports and past attempts to burn the evidence. I ran into a lot of suddenly-deleted Bitfinex-related stuff working on the book. (In the ebook, look for references that link only an archive copy, not the deleted original.)

    EDIT: Bitcoin will top $5,000 soon! Because 20M Tethers just popped into existence, and this is always followed by a pump.

  • “I just bought 16 Radeons I am gonna get sooo rich mining altcoins … oh.”

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