bitcoin   53574

« earlier    

Pioneer of Central Washington cryptocurrency boom falls on hard times • The Seattle Times
Paul Roberts:
<p>Last October, Giga Watt was on a scorching upward trajectory. With prices for bitcoin and other cryptocurrencies soaring and international investors clamoring for a piece of the digital action, the East Wenatchee-based company had expanded to 62 employees and raised tens of millions of dollars for what it hoped would be a game-changing project: a sprawling campus of 24 prefabricated buildings where would-be crypto “miners” could run their own computers and solve the complicated mathematical algorithms that yield the digital gold.

As the pods arose from a muddy site near the Douglas County airport, local government officials talked excitedly about the emergence of a new, 21st-century industry based on the complex “blockchain” technologies that enable bitcoin and other cryptocurrency. Giga Watt and its founder, a former Seattle-area programmer named Dave Carlson, saw themselves on that revolution’s cutting edge.

Now it’s a starkly different picture. Last month, beset by millions of dollars in debt, ongoing legal problems and questions about its unconventional financing, Giga Watt laid off 80 percent of its staff and suspended all construction. Carlson himself stepped down in August.

The moves come as the volatile sector, which ignited a small gold rush in the mid-Columbia Basin, is struggling with softening cryptocurrency prices and uncertain costs for its prime “raw material,” cheap electricity. The market correction has wiped out many small players and forced even some larger players to rewrite their plans.</p>

As usual, the people who reliably get rich in gold rushes are the ones selling spades - as long as they get paid for them. Contractors are owed around $5m.
cryptocurrency  crash  bitcoin 
16 hours ago by charlesarthur
Time for Bitcoin Users to Reclaim Their Voice
I make the case that Bitcoin users have just as much of a say, or more, than all the miners combined. They wield this power through exchanges, and the exchanges need to live up to their responsibilities.
governance  bitcoin 
yesterday by twleung
Bitcoin and Voting Power
This is a quick blog post to dispel a common Bitcoin misconception/myth involving voting power.
governance  bitcoin 
yesterday by twleung
A Scalable Cryptocurrency Analytics Platform built on Apache Spark and Cassandra
Analytics  bitcoin  blockchain  via:hackernews 
yesterday by Z303
Enough with the ICO-Me-So-Horny-Get-Rich-Quick-Lambo Crypto - CoinDesk
CoinDesk asked cypherpunk legend Timothy May, author of the "Crypto Anarchist Manifesto," to write his thoughts on the bitcoin white paper on its 10th anniversary. What he sent back was a sprawling 30-page evisceration of a technology industry he feels is untethered from reality.
bitcoin  cryptocurrencies 
yesterday by josephaleo
The rise and fall of Ethereum | Financial Times
After the pump, the dump
Experts said that as Ether began to slide, many ICO projects have sold down the balances of Ether they held, turning it into fiat currency and putting pressure on Ether’s price. Some warn this trend could continue, particularly if new projects fail to start generating revenues.

2 days ago by seatrout

« earlier    

related tags

2018  advertising  alternative  analytics  android  anonymity  basics  bch  bitfinex  bittorrent  block  blockchain  blog  blogs  brave  brendan  browser  btc  bug  business  chain  challenge  charts  climate-change  climatechange  cooperation  copyright  crash  credit  creditline  crime  crowdfunding  crypto-currency  crypto.  crypto  cryptocurrencies  cryptocurrency  cryptography  currency  cve  data  database  datastructure  decentralizedexchange  documentary  doublespend  earth  ecology  economics  economy  efficiency  eich  electricity  encryption  energy  engineering  environment  eth  ethereum  examples  faircoin  fiat  fiatcurrency  finance  from:seattletimes  future  gas  gotenna  governance  government  haloplatform  hardware  history  hodler  hold  ico  interesting  internet  invest  investing  investment  investments  investor  ios  learning  lending  market  merkle  mesh-networking  mit  model  money  moneylaundering  movies  news  newspapers  newyorker  p2p  pdf  piracy  politics  pow  power  predictions  privacy  proofofwork  psychology  puzzle  quiz  reference  research  ripple  russia  sidechain  structure  surveillance  technology  token  tolearn  tor  toread  tounderstand  tree  trees  tutorial  value  video  wa_state  wallet  weekly 

Copy this bookmark: