News: Exitscam.me, UK Treasury, IBM’s dollar-substitute token, Stripe, KodakCoin

News: Exitscam.me, UK Treasury, IBM’s dollar-substitute token, Stripe, KodakCoin

  • Someone’s running a literal Ponzi scheme on Ethereum, that they’ve literally called Exitscam.Me. You put some ether into the pot, and this adds time to a counter (maximum 24 hours). When the timer runs out, whoever put money in last gets the lot! There’s also some sort of dividend-sharing arrangement. If we’re very lucky, this will consume all the ether ever mined.
  • The UK Treasury’s Digital Currencies Inquiry had its third oral evidence session on Wednesday 4 July — this time featuring David Geale (Financial Conduct Authority), Martin Etheridge (Bank of England) and David Raw (HM Treasury).
  • IBM messes with a fully backed dollar-substitute coin, Stronghold. I’m sure this will all end well.
  • The hot new risk management stratagem — insurance against crypto heists. “Underwriters can charge a crypto-related company upwards of five times or more than your average business for coverage against loss or theft.”
  • And here’s the KashMiner at CES in January, after Kodak made Spotlite remove the Kodak branding:

 

 

  • In unrelated Kodak crypto-follies, KodakOne/KodakCoin sent an email a few days ago: “We have reached our financial targets both in our Pre-ICO I and II. Our $1 SAFT offering round will remain open until the launch of our platform.” As it happens, their May 2018 “Confidential Offering Memorandum” says that ICO round 2 aimed for $6.75m, but got only $880,000. I’m sure there’s a perfectly reasonable explanation.

 

 

 

 

 

 



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