{"id":3093,"date":"2017-12-15T22:59:20","date_gmt":"2017-12-15T22:59:20","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=3093"},"modified":"2018-01-16T20:47:36","modified_gmt":"2018-01-16T20:47:36","slug":"news-1bn-tethers-nicehash-return-india-buying-bitcoin-fca-lightning-network-book-news","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/15\/news-1bn-tethers-nicehash-return-india-buying-bitcoin-fca-lightning-network-book-news\/","title":{"rendered":"News: 1bn Tethers, NiceHash return, India, buying Bitcoin, FCA, Lightning Network, book news"},"content":{"rendered":"<ul>\n<li>Over<a href=\"https:\/\/wallet.tether.to\/transparency\"> one billion Tethers<\/a> served! Hopefully every one of those Tethers is backed by a redeemable US dollar, as they state.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">While we celebrate the billionth tether, let&#39;s not forget the fact that there are now over $800,000,000 (!) borrowed on bitfinex for margin trading. <a href=\"https:\/\/t.co\/kMM6o5fwMH\">pic.twitter.com\/kMM6o5fwMH<\/a><\/p>\n<p>&mdash; Buttcoin (@ButtCoin) <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/941364104039628800?ref_src=twsrc%5Etfw\">December 14, 2017<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>NiceHash is <a href=\"https:\/\/twitter.com\/NiceHashMining\/status\/941670265146224642\">&#8220;in the final stages of redeploying the site and the service.&#8221;<\/a> No word about that <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/06\/news-nicehash-hack-bitfinex-makes-the-news-steam-drops-bitcoin-sec-vs-ico-venezuela-book-news-i-have-to-mention-cryptokitties\/\">hacked $60 million<\/a>, but given the number of <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/11\/bitcoin-mining-accidents-2017-updated-version-with-photos\/\">people who are still fans<\/a>, expect the difficulty on exchangeable altcoins to go up shortly.<\/li>\n<\/ul>\n<ul>\n<li>India&#8217;s Income Tax Department has been <a href=\"https:\/\/www.ndtv.com\/business\/crackdown-at-bitcoin-exchanges-start-five-things-to-know-1787244\">investigating local bitcoin exchanges<\/a> for evidence of <a href=\"http:\/\/www.businesstoday.in\/current\/economy-politics\/income-tax-department-cracks-down-on-bitcoin-exchanges\/story\/265909.html\">tax evasion by users<\/a>.<\/li>\n<\/ul>\n<ul>\n<li>A reporter <a href=\"https:\/\/www.msn.com\/en-my\/news\/other\/i-owned-bitcoin-for-a-weekend-and-heres-what-i-learned\/ar-BBGEBWT\">tries buying Bitcoin<\/a>. &#8220;When I first purchased bitcoin through the app Coinbase, my bank thought it was fraud and froze my account.&#8221; He compares it to a roulette wheel: &#8220;It probably provides the same rush of adrenaline that a craps table in Vegas might provide, but it&#8217;s too risky for me.&#8221;<\/li>\n<\/ul>\n<ul>\n<li>Andrew Bailey, head of the UK&#8217;s Financial Conduct Authority, warns Bitcoin buyers: <a href=\"http:\/\/www.bbc.co.uk\/news\/business-42360553\">Be ready to lose all your money<\/a>. &#8220;Buying Bitcoin, he said, was similar to gambling\u00a0\u2014 and had the same level of risk.&#8221; If you&#8217;re reading this blog you might think this obvious, but &#8230;<\/li>\n<\/ul>\n<ul>\n<li>New Yorker: <a href=\"https:\/\/www.newyorker.com\/humor\/daily-shouts\/what-conversations-about-bitcoin-sound-like-to-me\">What Conversations About Bitcoin Sound Like to Me<\/a>.<\/li>\n<\/ul>\n<p><strong>Buttcoinery:<\/strong><\/p>\n<ul>\n<li>A Bitcoin enthusiast posted to Reddit \/r\/bitcoin recently, claiming to be an economist who just happened to think Bitcoin was awesome in every way. His post was upvoted sufficiently to make it to \/r\/all, whereupon an <em>actual<\/em> economist responded. The enthusiast replaced <a href=\"https:\/\/www.reddit.com\/r\/Bitcoin\/comments\/7iyej5\/bitcoin_exposes_the_massive_economic_illiteracy\/\">the post<\/a> with <a href=\"https:\/\/en.wikipedia.org\/wiki\/Lorem_ipsum\">lorem ipsum<\/a> before deleting both it and <a href=\"https:\/\/www.reddit.com\/user\/Dietsman\">his account<\/a> \u2014 but our <a href=\"https:\/\/archive.is\/\">robot overlords<\/a> were on the job, <a href=\"https:\/\/archive.is\/vsZQ0\">preserving the exchange<\/a> for posterity.<\/li>\n<\/ul>\n<ul>\n<li>Even the stalwart no-nocoiners of \/r\/bitcoin, when they see the Lightning Network&#8217;s promotional material, look at this convoluted garbage and go <a href=\"https:\/\/np.reddit.com\/r\/Bitcoin\/comments\/7jhfk0\/bitcoins_lightning_network_simply_explained\/\">&#8220;what on earth, that can&#8217;t possibly work economically.&#8221;<\/a> They probably just need to &#8220;hit Google&#8221; or &#8220;do their own research&#8221; or &#8220;try harder.&#8221;<\/li>\n<\/ul>\n<ul>\n<li>In fairness, I have <a href=\"https:\/\/twitter.com\/davidgerard\/status\/940760354501558272\">asked directly:<\/a> Are there any official or semi-official plans for what the network is expected to look like?<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I have almost 28 volumes of the lightning-dev digest, and I still cant answer your question.<\/p>\n<p>&mdash; Shitcoin O&#39;Toole (@LetsTrekSpain) <a href=\"https:\/\/twitter.com\/LetsTrekSpain\/status\/941405550826479617?ref_src=twsrc%5Etfw\">December 14, 2017<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Book news:<\/strong><\/p>\n<ul>\n<li>Press coverage: <a href=\"https:\/\/www.wikitribune.com\/story\/2017\/12\/15\/technology\/bitcoin-boomed-in-2017-where-will-it-go-next\/27822\/\">an article in WikiTribune<\/a>, interviewing various pundits, including me, on the future of Bitcoin.<\/li>\n<\/ul>\n<ul>\n<li>Three new <a href=\"https:\/\/www.patreon.com\/davidgerard\">patrons<\/a> since yesterday. Thank you, I shall endeavour to keep delivering! Tell your friends and colleagues. It&#8217;s probably deductible!<\/li>\n<\/ul>\n<ul>\n<li>Keep tweeting your pictures of the book! Every one is like a photo of my beautiful child. &#8220;The only thing I&#8217;ve ever spent actual money on regarding bitcoin just arrived today!&#8221; \u2014 happy reader Kiwid:<\/li>\n<\/ul>\n<p><a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/15\/news-1bn-tethers-nicehash-return-india-buying-bitcoin-fca-lightning-network-book-news\/kiwid-50ft\/\" rel=\"attachment wp-att-3096\"><img decoding=\"async\" class=\"aligncenter size-large wp-image-3096\" src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2017\/12\/kiwid-50ft-1024x768.jpg\" alt=\"\" width=\"80%\" srcset=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2017\/12\/kiwid-50ft-1024x768.jpg 1024w, https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2017\/12\/kiwid-50ft-300x225.jpg 300w, https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2017\/12\/kiwid-50ft-768x576.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><em>&#8220;i think i&#8217;m going to buy divabot&#8217;s book just to hand to the first jackass that asks me what i think about bitcoin at my family christmas dinner&#8221; \u2014 infernal machines<\/em><\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">teetering on the brink of epiphany <a href=\"https:\/\/t.co\/p0aWCz6PAk\">pic.twitter.com\/p0aWCz6PAk<\/a><\/p>\n<p>&mdash; Buttcoin (@ButtCoin) <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/941281448753029120?ref_src=twsrc%5Etfw\">December 14, 2017<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<br><br><div align=\"center\"><p><a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\"><img src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2021\/10\/become_a_patron_button.svg\" alt=\"Become a Patron!\" title=\"Become a Patron!\" width=217 height=51><\/a><br><p style=\"align:center;\" class=\"patreon-badge\"><i>Your subscriptions keep this site going. <a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\">Sign up today!<\/a><\/i><\/p><\/div>","protected":false},"excerpt":{"rendered":"<p>One billion Tethers! Each and every one backed by a redeemable US dollar, of course, as they state. 800 million of those being loaned out on Bitfinex for margin trading.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[155,305,12,82,166,287,233,6,307,40,39,306],"class_list":["post-3093","post","type-post","status-publish","format-standard","hentry","category-uncategorised","tag-rbuttcoin","tag-andrew-bailey","tag-attack-of-the-50-foot-blockchain","tag-ethereum","tag-fca","tag-india","tag-lightning-network","tag-links","tag-new-yorker","tag-nicehash","tag-tether","tag-wikitribune"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/3093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/comments?post=3093"}],"version-history":[{"count":28,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/3093\/revisions"}],"predecessor-version":[{"id":3124,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/3093\/revisions\/3124"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=3093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=3093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=3093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}