News: Bitmain fires half its employees and all of Bitcoin Cash, Bitcoin Private exploit, Kleiman v. Wright proceeds

  • Don’t forget — this news blog runs on your helpful subscriptions. If you were signed up at $5/month, you’d have already read my analysis of the Telegram ICO’s technical white paper — and you’ll get ICO book drafts when I finish more of those. Tell your friends and colleagues, and sign up for new posts via email!

Not everyone is struggling in the downturn! “Now that the market dropped, everyone is getting sued,” said Chante Eliaszadeh, a law student and the president of a blockchain law club called Blockchain at Berkeley Law.

Bitmain has fired its entire Bitcoin Cash development team, amongst 50% of all its employees in total. Merry Christmas from Jihan! Bitcoin Cash is definitely the worst business decision of his life.

Bitcoin Private is one of the 21 million full-history forks of Bitcoin. There are two million coins that seem to have been created out of nothing — apparently due to an exploit in an outside code contribution.

The US government reveals its keen interest in a cryptocurrency use case — availability testing services! FBI seizes 15 DDOS-for-hire sites.

Nobody believes Craig Wright is Satoshi … except Dave Kleiman’s brother, who’s suing him for the Bitcoin stash that Wright claimed to share with Kleiman. And the judge considers the claim not insane.

Private blockchains are still not actually useful, according to the Skolkovo Business School in Moscow. (Original BitNovosti article, Google translation; original Skolkovo report.)

Diar lists which ICOs have dumped how much of their ICO takings. Filecoin just dumped 216,000 ETH ($17+ million) from their $200 million 2017 ICO.

Jill Carlson wrote in March something apposite to right now as crypto prices crash — Short Convexity: The big problem awaiting token teams. What happens in financial markets when the yield-price curve on your stash of tokens is curved the wrong way — “you become more exposed as it moves the wrong direction (uh oh).” About 0% of people who desperately need this piece will read or understand it.



How over-the-counter crypto trading works, and how it affects the markets.

Maximilian Fiege: “Bitcoin maximalists argue that the energy consumption of Proof-of-Work provides the network with a security moat. In reality, it introduces political risk because of the highly centralized nature of energy infrastructure and markets.”

This article is a tissue of vicious burns that Bitcoin 100% deserves: Bitcoin’s terrible 2018 doesn’t bode well for the future of crypto.

The Ghost of Bitconnect Past — Cthulhooo from Reddit /r/buttcoin posts his favourites from the now-locked /r/bitconnect subreddit, about the Bitconnect crypto Ponzi scheme that collapsed in January.

Victor Ventura from elEconomista, on the crypto crash — El año en que pinchó la burbuja del bitcoin deja a los mineros en pérdidas y a los mercados sin compradores.  With quotes from me; quite readable with Google Translate.

I did a video podcast interview with CryptoJack TV! It’s a bit long — 77 minutes — but came out really well. It’s so useful having a decent video setup at home now. Here’s the shirt I’m wearing.






Become a Patron!

Your subscriptions keep this site going. Sign up today!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.