Category Archives: Altcoins

FDA Regulatory Overreach Allows Price Gouging

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Recently news has been circulating that condemns Turing Pharmaceuticals for price gouging United States consumers of pyrimethamine1 an antimalarial which sells for under ten cents per dose in markets other than the United States where generic forms are available. Pyrimethamine is very popular in areas of the world where malaria is endemic due to its efficacy against most strains of the falciparum and vivax species of the Plasmodium malaria parasite, but in the United States it is typically used to treat toxoplasmosis in immunocompromised patients making it a niche treatment. Turing Pharmaceuticals managed to get a contract to exclusively market pyrimethamine in the United States thanks to FDA regulations. Because the FDA allows them exclusive marketing rights they can set prices arbitrarily, and if they can they must. Continue reading →

  1. trade name Daparim, released in 1953  ↩

Bet Over Ethereum's Survival Rockets Past 100 BTC in Wagers

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A six day old Bet on whether Ethereum rides into 2016 as a continuing economically viable thing has managed to so far draw more than 129 Bitcoin in wagers. The criteria assigned for Ethereum to fail include the value of Ethereum tokens falling under 0.001 BTC per Ethereum token during December 2015 or if the volume of Ethereum tokens traded during the month of December 2015 being less than 100 Bitcoin in value. At the present 23 Bitcoin have been staked on Ethereum's failure while 106.11 Bitcoin are staked on Ethereum surviving December. According the the wager on BitBet price information is to be taken from Poloniex. As of this writing Ethereum is trading for around 0.004 Bitcoin per token with an all time low price of 0.00243990 Bitcoin per token on August 10th shortly after Ethereum's release. Continue reading →

Trump Campaign Payment Processor Fleeces Donors

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MWTW in Portland, Maine alleges a third party payment processor used by Donald Trump's presidential campaign is repeating donation charges and in at least one case was reported to have charged a man who entered payment information but decided not to purchase anything from the campaign's online store (archived). In all 13 charges were attempted of which 6 ended up successfully debiting a balance from the man's bank account. The station is referring to the charges as unauthorized while the payment processor blames a 'glitch' in their system. Continue reading →

Ferguson Government's Creditworthiness Reclassified as 'Junk'

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Ferguson, Missouri the site of numerous clashes over the past year between rebels and Government forces has had their creditworthiness as evaluated by Moody's reduced seven levels from Aa3 to Ba1 "junk" status (archived). Moody's cites a rapid deterioration in Ferguson's financial health following the beginning of the rebellion, and if Ferguson's government continues to conceal information about how their efforts to stabilize the situation have adversely affect their finances Moody's has threatened to withdraw their rating of Ferguson completely. Ferguson government leader James Knowles considers Moody's action "unfair" and that the embattled government is financially healthy enough to not require further debt issuances at this time. Moody's is predicting Ferguson's government could be insolvent by 2017.

"Y Combinator" Too Generic To Trademark

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The United States Patent and Trademark Office has ruled against startup and censorship incubator Y Combinator's petition to register their name as a trademark (archived). The office in making the decision noted that "Y Combinator" as a term of art used in computer science and mathematics is by its nature too generic to stand as a distinguishing mark denoting a particular trade venture.

Former Reddit CEO Surrenders Legal Fight After Losing Media Outlet

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Today Ellen Pao has dropped an appeal of her courtroom loss against one of her former employers, the firm Kleiner Perkins Caufield & Byers and will have to pay the firm's costs related to the affair (archived). At trial her allegations of discrimination were determined to be unfounded and she was ordered to pay the firm's legal fees. Even though she had advanced her career at the firm to the point she was elevated to partner at the firm, she still alleged that systemic gender discrimination had limited her potential to advance her career. Pao was determined to appeal the ruling during her short tenure as CEO of the social media outlet Reddit where she advanced a censorship agenda which involved shuttering communities that celebrate healthy lifestyle choices and suppression of accurate legal analysis of her case. Near the end of her reign there was further a large rebellion of unpaid moderation staff as she cut a number of resources once available to support them. Pao's post Kleiner legacy as a business leader raises serious questions about the managerial competence at any firm that would elevate Ellen Pao to partner.

MIT Sacrifices Rag in XTCoin Push

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Since the original XTCoin fork of Bitcoin was announced MIT's Technology Review has been the solitary media outlet of note lending its complete and unreserved support to XTCoin's social media propaganda war. MIT's rag has effectively sacrificed whatever reputation it may have still had as it attempts to force a narrative that frames Gavin Andressen and Mike Hearn's efforts as an attempt to somehow save Bitcoin. The once storied Massachusetts Insitute of Technology, which has taken money from the United States Military to research Bitcoin prices and rescued Gavin Andressen from poverty when the Vessenes' Foundation collapsed is now set on burning the last of its credibility in an attack on Bitcoin.

XT Node Blacklists Fail to Prevent DDoS Attack

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Mike Hearn and Gavin Andressen recently chose to use the Bitcoin-XT project to attempt to provoke a hard fork in the blockchain to increase the block size limit. Users who support Gavin's code to hard fork the network to increase the block size, began switching to, and launching Bitcoin-XT nodes. After Mike Hearn's declaration of war, the number of XT-Nodes on the network began to increase. However Mike Hearn began seeing a pattern of nodes getting attacked by heavy DDoS attacks. Continue reading →

BIP-101 Syndicate Shares Fiat Ties, Opposition to Actual Bitcoin

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Upon a Crunchbase investigation of the companies attached to the open letter (text) published on Blockchain.info's blog supporting BIP-101, a correlation arose that indicates these companies have most likely been compromised for some time. All of these companies who have been known to employ heavy KYC terms, are heavily funded by fiat institutions that want to pervert Bitcoin. Continue reading →

Many Pools Rejecting XT in Favor of Other Undefined Fork

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A handful of large mining pools including those operated by BTCChina and Bitfury have rejected Mike Hearn and Gavin Andressen's XTCoin proposal in favor of a different forking change which would leave them still more influence on their forked blockchain. The pools currently authoring blocks which support the proposal known as BIP 100 currently compromise a bit more than 50% of the hashrate, an amount which if BIP 100 actually had any working implementations would be insufficient to trigger a switch without an attack orphaning all blocks without a "triggering" vote.

At the moment BIP 100 exists as a proposal requesting comments, so it is not possible at the time of this writing to describe any of its points with certainty beyond votes for it being a clear repudiation of the XT effort. As BIP 100 exists now it preserves the 32 MB maximum message size as a hard explicit limit which the blocksize limit must stay under on a BIP 100 forked chain. With so many particulars of BIP 100 not being set in stone yet, it is not unlikely that support for it may wane though at the moment support is likely to persist as a repudiation of the XT effort to hijack Bitcoin.