Bitcoin

dark web drugs

Midshipmen at US Naval Academy Under Investigation for Dark Web Drug Trafficking

Reports estimate that between 10 to as much as two dozen midshipmen based at the US Naval Academy in Annapolis, MD, near Washington, D.C., were part of an elaborate scheme to supply their peers with illicit drugs including cocaine, LSD, and ketamine. As reported by Fox News, the criminal ring used Bitcoin to purchase the drugs on … Continue reading Midshipmen at US Naval Academy Under Investigation for Dark Web Drug Trafficking

proof-of-work

Is Proof-of-Work a Major Problem for Bitcoin’s Future?

Bitcoin is a very energy-inefficient project as of right now. The proof-of-work aspect has been discussed many times over. It seems community members are now advocating to change this algorithm altogether. With mining centralization becoming a real problem, such a change is not necessarily a bad thing. The Proof-of-Work Situation Generating new Bitcoins requires dedicated … Continue reading Is Proof-of-Work a Major Problem for Bitcoin’s Future?

bitmain

Mining Boom: Bitmain’s Profit Over $3 Billion According to Researchers

Beijing-based start-up Bitmain now dominates the Bitcoin mining industry. Last year it is estimated the company made as much money as chipmaker Nvidia did, according to estimates from researchers at Wall Street analyst Bernstein. Based on conservative estimates, the analysts calculate that Bitmain made $3 to $4 billion in operating profit last year. Bernstein’s U.S. semiconductor team estimates … Continue reading Mining Boom: Bitmain’s Profit Over $3 Billion According to Researchers

gdax

GDAX Announce Full SegWit Support, Network Fees Continue to Fall

GDAX, the trading arm of cryptocurrency brokerage Coinbase, announced today that they will implement full SegWit support for Bitcoin transactions in the coming days. The protocol upgrade aims to make transactions quicker and cheaper for users of BTC. GDAX Joins Coinbase and Bitfinex GDAX are the latest of the cryptocurrency industry’s major players to offer … Continue reading GDAX Announce Full SegWit Support, Network Fees Continue to Fall

cdot

Colorado Department of Transportation, CDOT, Completely Offline After Ransomware Virus

Employees at the Colorado Department of Transportation (CDOT) spent the second day offline today, while security officials — including the FBI — continue to investigate a ransomware virus that hijacked computer files and demanded payment in Bitcoin for their return. According to Amy Ford, a CDOT spokeswoman, only employee computers running Windows and equipped with McAfee … Continue reading Colorado Department of Transportation, CDOT, Completely Offline After Ransomware Virus

montana

Montana: Power Block Coin, LLC to Build $251 Million Data Center to Mine Cryptocurrency

Power Block Coin, LLC’s proposal to invest $251 million to build a cryptocurrency mining farm in Montana Connections, a special tax district west of the city of Butte, has been given the green light. This Wednesday, Butte-Silver Bow Council of Commissioners voted unanimously (9-0) to allow Utah-based Power Block Coin, LLC — a subsidiary of Blue … Continue reading Montana: Power Block Coin, LLC to Build $251 Million Data Center to Mine Cryptocurrency

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