{"id":8763,"date":"2018-07-22T22:15:57","date_gmt":"2018-07-22T22:15:57","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=8763"},"modified":"2018-07-22T22:15:57","modified_gmt":"2018-07-22T22:15:57","slug":"news-exitscam-me-uk-treasury-ibms-dollar-substitute-token-stripe-kodakcoin","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2018\/07\/22\/news-exitscam-me-uk-treasury-ibms-dollar-substitute-token-stripe-kodakcoin\/","title":{"rendered":"News: Exitscam.me, UK Treasury, IBM&#8217;s dollar-substitute token, Stripe, KodakCoin"},"content":{"rendered":"<ul>\n<li>Someone&#8217;s running a literal Ponzi scheme on Ethereum, that they&#8217;ve literally called <a href=\"https:\/\/www.reddit.com\/r\/ethereum\/comments\/909226\/fomo_3d_pot_is_now_over_1000_eth\/\">Exitscam.Me.<\/a> 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&#8217;s also some sort of dividend-sharing arrangement. If we&#8217;re very lucky, this will consume all the ether ever mined.<\/ul>\n<ul>\n<li>The UK Treasury&#8217;s Digital Currencies Inquiry had its <a href=\"http:\/\/data.parliament.uk\/writtenevidence\/committeeevidence.svc\/evidencedocument\/treasury-committee\/digital-currencies\/oral\/86572.html\">third oral evidence session<\/a> on Wednesday 4 July \u2014 this time featuring David Geale (Financial Conduct Authority), Martin Etheridge (Bank of England) and David Raw (HM Treasury).<\/ul>\n<ul>\n<li>IBM messes with a fully backed dollar-substitute coin, <a href=\"https:\/\/www.cnbc.com\/2018\/07\/17\/ibm-backs-a-cryptocurrency-thats-pegged-to-the-us-dollar.html\">Stronghold.<\/a> I&#8217;m sure this will all end well.<\/ul>\n<ul>\n<li>The hot new risk management stratagem \u2014 <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-07-19\/crypto-heist-insurance-fat-premiums-lots-of-underwriting-risk\">insurance against crypto heists.<\/a> &#8220;Underwriters can charge a crypto-related company upwards of five times or more than your average business for coverage against loss or theft.&#8221;<\/ul>\n<ul>\n<li><a href=\"http:\/\/fortune.com\/2018\/07\/17\/stripe-blockchain\/\">Why Stripe Gave Up on Bitcoin and Blockchain Payments.<\/a> Stripe COO Claire Hughes Johnson &#8220;also questioned whether there is any mainstream purpose for Bitcoin and other cryptocurrencies.&#8221;<\/ul>\n<ul>\n<li>Hydro-Qu\u00e9bec applies market forces to crypto miners\u00a0\u2014 it&#8217;s going to charge them <a href=\"https:\/\/www.ledevoir.com\/economie\/532544\/hydro-quebec-pourra-imposer-un-tarif-dissuasif-aux-mineurs-de-cryptomonnaies\">twice what it charges its retail customers.<\/a><\/ul>\n<ul>\n<li>The <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/07\/11\/kodak-pt-7-kodak-kashminer-the-bitcoin-cloud-mining-scheme-that-never-existed\/\">Kodak HashPower website<\/a> has now disappeared. And there&#8217;s a <a href=\"https:\/\/en.wikipedia.org\/wiki\/Kodak_KashMiner\">Wikipedia article<\/a> on the Kodak KashMiner. (<a href=\"https:\/\/en.wikipedia.org\/w\/index.php?title=Kodak_KashMiner&#038;action=history\">Started<\/a> by <a href=\"https:\/\/en.wikipedia.org\/wiki\/User:Fuzheado\">Andrew Lih,<\/a> enhanced by me.)<\/ul>\n<ul>\n<li>And here&#8217;s the KashMiner at CES in January, <em>after<\/em> Kodak made Spotlite remove the Kodak branding:<\/ul>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/Kodak?ref_src=twsrc%5Etfw\">@Kodak<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/KashMiner?src=hash&amp;ref_src=twsrc%5Etfw\">#KashMiner<\/a> <br \/>Is it mining or <a href=\"https:\/\/twitter.com\/hashtag\/Cloudmining?src=hash&amp;ref_src=twsrc%5Etfw\">#Cloudmining<\/a><\/p>\n<p>I hash it out for you here: <a href=\"https:\/\/t.co\/W2JYUZI6yV\">https:\/\/t.co\/W2JYUZI6yV<\/a> <a href=\"https:\/\/t.co\/UKFj3T0waB\">pic.twitter.com\/UKFj3T0waB<\/a><\/p>\n<p>&mdash; Myke500 (@Myke500) <a href=\"https:\/\/twitter.com\/Myke500\/status\/951896384336142336?ref_src=twsrc%5Etfw\">January 12, 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>In unrelated Kodak crypto-follies, <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/05\/29\/kodak-pt-6-kodakcoins-on-sale-and-the-reg-a-escape-route\/\">KodakOne\/KodakCoin<\/a> sent an email a few days ago: &#8220;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.&#8221; As it happens, their May 2018 &#8220;Confidential Offering Memorandum&#8221; says that ICO round 2 aimed for $6.75m, but got only $880,000. I&#8217;m sure there&#8217;s a perfectly reasonable explanation.<\/ul>\n<ul>\n<li>A rough guide to <a href=\"https:\/\/btrade.io\/site\/blog\/tech-knowledge\/2018\/07\/16\/top-five-cryptocurrency-tax-tips-for-australians\/\">cryptos in Australian tax law<\/a>\u00a0\u2014 including sensible advice on the tax implications of full-history forks.<\/ul>\n<ul>\n<li>From March: <a href=\"https:\/\/medium.com\/@orseus40\/an-interview-with-the-psuedoanonymous-user-calling-out-bitfinex-and-tether-bitfinexed-explains-it-50eb2ab05c40\">CasPiancey interviews Bitfinex&#8217;ed about Bitfinex and Tether.<\/a><\/ul>\n<ul>\n<li>Don&#8217;t risk a <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/03\/10\/news-dont-pay-ransomware-china-japan-ico-plagiarism-fake-exchange-volume-cryptid-currency\/\">Ryan Gosling moment<\/a> \u2014 here&#8217;s the ICO whose team members are <a href=\"https:\/\/ftalphaville.ft.com\/2018\/07\/18\/1531921866000\/The-ICO-whose-team-members-are-literally-cartoon-characters-\/\">literally cartoon characters!<\/a><\/ul>\n<ul>\n<li><a href=\"https:\/\/www.wired.com\/story\/why-you-cant-trust-most-cryptocurrency-white-papers\/\">Why cryptocurrency white papers are largely trash,<\/a> with very few exceptions\u00a0\u2014 there&#8217;s almost no peer review of any sort, and massive incentives to scam.<\/ul>\n<ul>\n<li>Public service announcement: don&#8217;t talk about bitcoins <a href=\"https:\/\/www.reddit.com\/r\/newzealand\/comments\/903bvu\/psa_dont_talk_about_bitcoins_during_a_job\/\">during a job interview with a financial institution.<\/a><\/ul>\n<ul>\n<li>David Rosenthal: sensible &#8220;smart contracts&#8221; are both <a href=\"https:\/\/blog.dshr.org\/2018\/07\/dino-and-iino.html\">Decentralised In Name Only and Immutable In Name Only.<\/a><\/ul>\n<ul>\n<li>Jorge Stolfi has put another marvelous submission in to the SEC, this one on the prospective <a href=\"https:\/\/www.ic.unicamp.br\/~stolfi\/bitcoin\/2018-07-18-0148-vaneck-solidx-etf-comments.pdf\">VanEck SolidX Bitcoin Trust<\/a> (PDF).<\/ul>\n<ul>\n<li>I am shocked, shocked to hear that crypto exchanges have <a href=\"https:\/\/blog.cryptoexchangeranks.com\/industry-news\/is-making-fake-24-h-trading-volumes-the-best-marketing-strategy-for-crypto-exchanges\/\">strong incentives to report fake volume.<\/a><\/ul>\n<ul>\n<li>Don&#8217;t forget \u2014 <em>Attack of the 50 Foot Blockchain<\/em> is <a href=\"https:\/\/www.amazon.ca\/dp\/B073CPP581\/\">$1.99 on Kindle Canada,<\/a> this month only!<\/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\/DlWfqqrsdL\">pic.twitter.com\/DlWfqqrsdL<\/a><\/p>\n<p>&mdash; Buttcoin (@ButtCoin) <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/1020583784222162946?ref_src=twsrc%5Etfw\">July 21, 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\">Simple flowchart: <a href=\"https:\/\/t.co\/Q2NCyOLBTH\">pic.twitter.com\/Q2NCyOLBTH<\/a><\/p>\n<p>&mdash; vinton g cerf (@vgcerf) <a href=\"https:\/\/twitter.com\/vgcerf\/status\/1019987651301081089?ref_src=twsrc%5Etfw\">July 19, 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\">delighted to discover the latest Russian bitcoin spy is called Maria Buttina<\/p>\n<p>&mdash; Buttcoin (@ButtCoin) <a href=\"https:\/\/twitter.com\/ButtCoin\/status\/1018987584004022273?ref_src=twsrc%5Etfw\">July 16, 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>&nbsp;<\/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>And there\u2019s a Wikipedia article on the Kodak KashMiner.<\/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":[138,38,84,791,684,82,788,378,316,153,376,370,371,372,6,377,790,789,39,457],"class_list":["post-8763","post","type-post","status-publish","format-standard","hentry","category-uncategorised","tag-australia","tag-bitfinex","tag-bitfinexed","tag-claire-hughes-johnson","tag-david-rosenthal","tag-ethereum","tag-exitscam-me","tag-hydro-quebec","tag-ibm","tag-jorge-stolfi","tag-kashminer","tag-kodak","tag-kodakcoin","tag-kodakone","tag-links","tag-spotlite","tag-stripe","tag-stronghold","tag-tether","tag-united-kingdom"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/8763","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=8763"}],"version-history":[{"count":16,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/8763\/revisions"}],"predecessor-version":[{"id":8779,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/8763\/revisions\/8779"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=8763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=8763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=8763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}