News: China blocks cryptos, UK banks block cryptos, NYT on frauds, Lightning Network

News: China blocks cryptos, UK banks block cryptos, NYT on frauds, Lightning Network

 

 

  • UK banks start blocking credit card purchases of cryptocurrency — Lloyds Bank, Bank of Scotland, Halifax and MBNA — in the wake of several American credit card providers doing the same. News broken by Simon Jones from the BBC last night. It turns out that people who buy Bitcoin at the peak on a 21% interest card aren’t such a good credit risk. Note that you can still use your debit card — because that’s your money, not the bank’s.
  • Nathaniel Popper at the New York Times writes up the ridiculous scamminess of the crypto market, which I’m pretty sure he’s been wanting to write up for the past year, in the face of editors who are bored by anything more detailed than “number go up.” GOSH IT’S ALMOST AS IF I TOLD YOU SO, LOUDLY, CLEARLY AND REPEATEDLY. DID I OR DID I NOT TELL YOU SO? WHY I DO BELIEVE THAT INDEED I DID.
  • Ars Technica runs a comprehensive overview of the Lightning Network. The author seems to think he’s being hugely positive, and actually ends up detailing everything wrong with it. The commenters are thoroughly unconvinced: “This looks to be an overly complicated solution that has to go through loops and hoops (and a lot of bandaids) to fix things.”
  • One Redditor has hit the darknet research chemicals a bit hard and penned what is truly the “Kubla Khan” of our age. Now, you might be wishing for an international fiat bankster from Porlock …

 

 

 



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