{"id":6234,"date":"2018-04-11T20:45:16","date_gmt":"2018-04-11T20:45:16","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=6234"},"modified":"2018-05-05T17:19:06","modified_gmt":"2018-05-05T17:19:06","slug":"news-uk-parliament-inquiry-friday-monero-and-ethereum-vs-asics-bitfinex-and-poland-ripple-tries-to-buy-xrp-onto-exchanges","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2018\/04\/11\/news-uk-parliament-inquiry-friday-monero-and-ethereum-vs-asics-bitfinex-and-poland-ripple-tries-to-buy-xrp-onto-exchanges\/","title":{"rendered":"News: UK Parliament Inquiry Friday, Monero and Ethereum vs ASICs, Bitfinex and Poland, Ripple tries to buy XRP onto exchanges"},"content":{"rendered":"<ul>\n<li>The deadline for UK Parliament&#8217;s Digital Currencies Inquiry is <a href=\"https:\/\/www.parliament.uk\/business\/committees\/committees-a-z\/commons-select\/treasury-committee\/inquiries1\/parliament-2017\/digital-currencies-17-19\/\">THIS FRIDAY, 13 APRIL!<\/a> Get your submission in!<\/li>\n<\/ul>\n<ul>\n<li>Monero <a href=\"https:\/\/www.anythingcrypto.com\/guides\/antminer-x3-monero-hard-fork\">changed its algorithm<\/a> to evade the onslaught of Bitmain&#8217;s <a href=\"https:\/\/shop.bitmain.com\/product\/detail?pid=000201804081309219282DCC12mh062E\">Antminer X3<\/a> ASIC miners \u2014 and the hash rate promptly <a href=\"https:\/\/bitinfocharts.com\/comparison\/monero-hashrate.html#3m\">plummeted.<\/a> Recovering now. Antminer X3 users are keeping the old Cryptonight algorithm and calling the coin on that chain <a href=\"https:\/\/monero.org\/monero-original-announcement\/\">Monero Original (XMO).<\/a> There&#8217;s four other Monero forks on the old algorithm, two of which are called Monero Classic \u2014 and the manufacturers are <a href=\"https:\/\/www.ccn.com\/manufacturer-holds-cryptonight-asic-firesale-after-monero-hard-forks\/\">dumping the miners cheap.<\/a><\/li>\n<\/ul>\n<ul>\n<li>Bitmain is also making the <a href=\"https:\/\/shop.bitmain.com\/product\/detail?pid=00020180403174908564M8dMJKtz06B7&amp;utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=e3-announcement\">Antminer E3,<\/a> to do Ethereum \u2014 but Ethereum&#8217;s not bothering to do anything about it because it&#8217;s <a href=\"https:\/\/motherboard.vice.com\/en_us\/article\/3kj5dw\/what-is-an-asic-miner-bitmain-monero-ethereum\">not significantly more power-efficient<\/a> than a <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/11\/bitcoin-mining-accidents-2017-updated-version-with-photos\/\">pile of graphics cards.<\/a> And anyway, proof-of-stake is coming to Ethereum <em>any time now you betcha<\/em>.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Palmer Principle: no matter the consensus mechanism, in practice, 51% of stake\/mining power will be owned by at most 3 entities. <\/p>\n<p>(<a href=\"https:\/\/twitter.com\/Ummjackson?ref_src=twsrc%5Etfw\">@ummjackson<\/a>) <a href=\"https:\/\/t.co\/n7yVsjyUHy\">pic.twitter.com\/n7yVsjyUHy<\/a><\/p>\n<p>&mdash; nic carter (@nic__carter) <a href=\"https:\/\/twitter.com\/nic__carter\/status\/983408514302382081?ref_src=twsrc%5Etfw\">April 9, 2018<\/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>Authorities seize <a href=\"http:\/\/www.tvp.info\/36692986\/kolumbijskie-kartele-praly-setki-milionow-przez-spolki-z-pruszkowa-i-okolic\">400 million euros of drug money<\/a> from a Polish bank. One of the companies whose money was seized appears to be &#8220;a shareholder of an online cryptocurrency exchange office&#8221; \u2014<a href=\"https:\/\/www.spidersweb.pl\/2018\/04\/zbigniew-ziobro-bitfinex-prokuratura.html\"> rumoured to be Bitfinex.<\/a> (Unless it&#8217;s <a href=\"https:\/\/www.reddit.com\/r\/bitfinex\/comments\/8actyg\/poland_seized_300_millions_eur_from_bitfinex_bank\/dwyb4o0\/\">QuadrigaCX.<\/a>) Bitfinex denied it was them and said they would <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/983083749507088384\">issue a statement,<\/a> which has shown up on <a href=\"https:\/\/www.coindesk.com\/bitfinex-denies-money-laundering-claims-after-internal-investigation\/\">CoinDesk.<\/a> Chris Ellis <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/16\/news-bitfinex-warrant-canary-disappears-hyperledger-loses-members-kik-vs-cryptokitties\/\">hasn&#8217;t tweeted since December,<\/a> but has <a href=\"https:\/\/twitter.com\/CasPiancey\/status\/983431795378016256\">edited his Twitter bio<\/a> to remove mention of Bitfinex. And <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/01\/bitfinex-tether-and-5w-pr-mount-the-worst-public-relations-campaign-ive-seen-in-a-while\/\">Ron Torossian&#8217;s 5W PR<\/a> is <a href=\"https:\/\/modernconsensus.com\/cryptocurrencies\/torossians-5w-bitfinex-tether\/\">no longer the PR firm<\/a> for Bitfinex and Tether.<\/li>\n<\/ul>\n<ul>\n<li>Ripple <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-04-04\/ripple-is-said-to-struggle-to-buy-u-s-listing-for-popular-coin\">tried to buy XRP&#8217;s way onto Coinbase and Gemini.<\/a><\/li>\n<\/ul>\n<ul>\n<li>Tim Swanson notes that the Texas State Securities Board now has <a href=\"https:\/\/www.ssb.texas.gov\/sites\/default\/files\/CRYPTO%20report%20April%2010%202018.pdf\">60 open case files on cryptocurrency-related investment schemes.<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"und\" dir=\"ltr\"><a href=\"https:\/\/t.co\/G4Roft3tVv\">pic.twitter.com\/G4Roft3tVv<\/a><\/p>\n<p>&mdash; Buttcoin (@ButtCoin) <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/981165518156570627?ref_src=twsrc%5Etfw\">April 3, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">the real fun is gonna be the IRS enforcement division picking an egregious and combative bitcoin tax violator and using their idiocy to establish the best possible precedent<\/p>\n<p>&mdash; Buttcoin (@ButtCoin) <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/983056401424637953?ref_src=twsrc%5Etfw\">April 8, 2018<\/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>Google is <a href=\"https:\/\/www.wired.com\/story\/google-bans-all-cryptomining-extensions-from-the-chrome-store\/\">banning crypto mining addons<\/a> from the Chrome store.<\/li>\n<\/ul>\n<ul>\n<li>Mikko Hypponen of F-Secure realises <a href=\"https:\/\/twitter.com\/mikko\/status\/983317832548208642\">he invented cryptominer malware five years ago.<\/a> He is <em>very sorry<\/em>.<\/li>\n<\/ul>\n<ul>\n<li>It&#8217;s important to remember that behind Bitcoin&#8217;s big, stupid, obvious major flaws, it has many more layers of stupid major flaws. It&#8217;s not brought up so often these days \u2014 because Bitcoin is never going to take over from fiat, and people only care about &#8220;number go up&#8221; \u2014 but <a href=\"https:\/\/www.technologyreview.com\/s\/610783\/bitcoin-would-be-a-calamity-not-an-economy\/\">Bitcoin economics are<em> dumb as hell.<\/em><\/a> As is their <a href=\"https:\/\/medium.com\/@kaistinchcombe\/decentralized-and-trustless-crypto-paradise-is-actually-a-medieval-hellhole-c1ca122efdec\">vision for society.<\/a><\/li>\n<\/ul>\n<ul>\n<li>Ivan Bogatyy: <a href=\"https:\/\/hackernoon.com\/how-we-made-100k-trading-cryptokitties-2d69aebe715b\">How we made $100k trading CryptoKitties.<\/a><\/li>\n<\/ul>\n<ul>\n<li>Twitter thread of the week: Kerry K. Taylor goes to the <a href=\"https:\/\/twitter.com\/squawkfox\/status\/982618809612763136\">Real Estate Bitcoin Wealth Expo!<\/a><\/li>\n<\/ul>\n<ul>\n<li>Erin Griffith, Wired: <a href=\"https:\/\/www.wired.com\/story\/how-to-be-a-bitcoin-thought-leader\/\">How to be a Bitcoin thought leader.<\/a> &#8220;The secret of thought leadership, though, is that it&#8217;s built on a flimsy foundation of buzzwords and a sufficient lack of shame. Yes, even you, with the 53 Twitter followers, could probably convince someone of your crypto clairvoyance. The trick is to study the writings and blog posts of the people who do this professionally. And we&#8217;ve done that for you! Steal shamelessly, and maybe you&#8217;ll finally have something to say.&#8221;<\/li>\n<\/ul>\n<ul>\n<li>Reuters on <a href=\"https:\/\/www.reuters.com\/article\/us-crypto-currencies-otc\/otc-crypto-market-flourishes-powered-by-skype-idUSKCN1H91P4\">over-the-counter (OTC) crypto markets:<\/a> &#8220;Less romantically, traders sometimes say &#8216;butt&#8217; to mean bitcoin.&#8221; <a href=\"http:\/\/www.buttcoinfoundation.org\/\">We did it lads, be proud!<\/a><\/li>\n<\/ul>\n<ul>\n<li>Saifedean Ammous&#8217; forthcoming book <em>The Bitcoin Standard<\/em> is <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/04\/07\/saifedean-ammous-the-bitcoin-standard-the-austrian-case-for-bitcoin\/\">bad about Bitcoin<\/a>\u00a0\u2014 but <a href=\"http:\/\/www.coppolacomment.com\/2018\/04\/the-bitcoin-standard-critical-review.html\">Frances Coppola&#8217;s review<\/a> details how bad it is about economic history, too. But then, the badness is orthodoxy for the Austrian school, his target audience.<\/li>\n<\/ul>\n<ul>\n<li><a href=\"https:\/\/cyber.jotwell.com\/new-kids-on-the-blockchain\/\">A nice review of my book<\/a> in Jotwell.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"fr\" dir=\"ltr\">by Alexandre Lejeune<a href=\"https:\/\/twitter.com\/darkbean?ref_src=twsrc%5Etfw\">@darkbean<\/a> <a href=\"https:\/\/t.co\/cOnzSHtwdv\">pic.twitter.com\/cOnzSHtwdv<\/a><\/p>\n<p>&mdash; Bitcoin Art Gallery (@btcArtGallery) <a href=\"https:\/\/twitter.com\/btcArtGallery\/status\/983666653316644864?ref_src=twsrc%5Etfw\">April 10, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It&#39;s difficult to keep up with all the innovations in the Bitcoin space. Bitcoin Cash, SegWit, the Lightning Network&#8230; every 3 months, a new ground-breaking and revolutionary technology is born, attempting to solve some problem we never had before Bitcoin.<\/p>\n<p>&mdash; Trolly McTrollface (@Tr0llyTr0llFace) <a href=\"https:\/\/twitter.com\/Tr0llyTr0llFace\/status\/982102056910516226?ref_src=twsrc%5Etfw\">April 6, 2018<\/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>https:\/\/twitter.com\/crypto_capone\/status\/983427142607409152<\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">the wallet-lightening network is the perfect bitcoin product<\/p>\n<p>THE LIGHTNING NETWORK IS REAL AND EXISTS AND YOU CAN USE IT * HAHA TAKE THAT SKEPTICS<\/p>\n<p>* do not actually use the LN or you will lose all your money, is fwuffy open source alpha pwoduct pweeze no steppy uwu<\/p>\n<p>&mdash; Buttcoin (@ButtCoin) <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/983359302529437696?ref_src=twsrc%5Etfw\">April 9, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">number not allowed to go down <a href=\"https:\/\/t.co\/4HxDyfdxp2\">pic.twitter.com\/4HxDyfdxp2<\/a><\/p>\n<p>&mdash; Buttcoin (@ButtCoin) <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/982732528875442176?ref_src=twsrc%5Etfw\">April 7, 2018<\/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>Get your UK Parliamentary submission in without delay!<\/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":[284,38,343,309,297,82,580,102,581,6,169,96,577,578,286,572,39,579,550,457],"class_list":["post-6234","post","type-post","status-publish","format-standard","hentry","category-uncategorised","tag-5w-pr","tag-bitfinex","tag-bitmain","tag-chris-ellis","tag-cryptokitties","tag-ethereum","tag-frances-coppola","tag-google","tag-jotwell","tag-links","tag-mikko-hypponen","tag-monero","tag-poland","tag-real-estate-bitcoin-wealth-expo","tag-ronn-torossian","tag-saifedean-ammous","tag-tether","tag-the-bitcoin-standard","tag-tssb","tag-united-kingdom"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/6234","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=6234"}],"version-history":[{"count":17,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/6234\/revisions"}],"predecessor-version":[{"id":6892,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/6234\/revisions\/6892"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=6234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=6234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=6234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}