The head of operations at Genesis Mining thinks the value of Bitcoin as a hedge against banks may grow in face of economic meltdown. Philip Salter, head of operations at Genesis Mining, believes that economic meltdown may lead to a growing value for Bitcoin as a hedge against the banks. In the last couple of…
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A Baidu senior engineer has been jailed for three years for mining $14,000 worth of Monero on company servers. An engineer at Baidu, China’s equivalent to Google, has been jailed for mining Monero on around 200 of the company’s servers. According to a March 16 report by local media outlet, Abacus News, the employee eventually…
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A hobbyist miner from 2010 recently discovered a wallet containing 1,000 Bitcoins, apparently managing to sell the coins before the March 13 crypto market massacre. A former Bitcoin miner hobbyist has stumbled on an old wallet containing 1,000 Bitcoins, in addition to many Bitcoin forks. On March 10, a thread was posted to Bitcointalk by…
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Chinese mining giant Canaan has to deal with some extra difficulties over its IPO amid bearish markets. While the current climate seems uneasy for all cryptocurrency businesses, some of them have to deal with extra difficulties. Earlier this month, investors filed a class-action lawsuit against Canaan, a Nasdaq-listed cryptocurrency mining hardware producer. The case is…
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Check the bad crypto news of the past week. Bitcoin has been on a downward streak for the last week, down around 15 percent over the last seven days. That’s bad but it could be worse. You might have put your money in stocks. Some people, though, remain optimistic. RT’s Max Keiser predicts that the…
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Judge rules against entities who sued a utility district for introducing new electricity pricing targeting crypto miners in 2018. A Washington court has ruled against one individual and five companies that sued the Grant County Public Utility District No.2 for suddenly creating a new electricity pricing schedule for power consumed by “emerging industries” in December…
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In an ongoing lawsuit, Genesis Mining has claimed that Digital Capital failed to deliver functional software in a failed partnership between the firms. Two firms in the cryptocurrency space are at legal loggerheads regarding millions of dollars in purportedly unpaid invoices. On September 30, 2019, the London-based payments company Digital Capital sued Genesis Mining over…
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Today’s Ethereum developer call lasted three hours, during which a tentative decision to reintroduce ProgPow as Ethash 2.0 was made despite lacking unanimous consensus. The Ethereum (ETH) All Core Devs call to decide on the fate of ProgPow was held on March 6. Despite a tentative decision to reformulate the mining algorithm as “Ethash 2.0,”…
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The Ethereum community is still engaged in bitter debates on ProgPoW and ASIC resistance, which some believe exposed the ‘suboptimal’ nature of its governance. The Ethereum (ETH) community has recently been engaged in a bitter debate sparked by a proposed mining algorithm change. Dubbed ProgPoW, the proposal would invalidate all currently existing ASICs to only…
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The recent incidents with Steem show a critical vulnerability in proof-of-stake algorithms that might affect all cryptocurrencies and exchanges. The Steem blockchain reportedly experienced a troubling episode recently, whereby the blockchain’s entire governance system was disturbed. Tron founder Justin Sun, new owner of the Steemit social network based on the Steem token, appears to have…
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