Australia based Bitcoin Group, a Bitcoin mining firm based on fiat principles, raised substantially less money than their goal in an initial public offering. The firm raised $5.9 million Australian dollars out of a $20 million Australian dollar goal. Their plan if they raised the goal amount was to spend $18 million Australian dollars on Bitcoin mining equipment and facilities with the remaining $2 million to be spend on "general corporate" expenses. The firm claims to have existing mining equipment in China and Iceland. Bitcoin Group's attempts to IPO were held up several times by the Australian Securities and Investments Commission. As with many other ventures which have made the transition from Bitcoin to fiat there are outstanding concerns and rumors around the firm soliciting investment directly from Chinese Bitcoin users before initially registering as an Australian company.
Category Archives: Fiat/BTC interfaces
Intel: Chips To Get Slower
William Holt, General Manager of Intel's Technology and Manufacturing group, has now gone on the public record declaring their future chips will be getting slower in the name of energy efficiency as Moore's law comes to an end (archived). Continue reading
Shaun Bridges Arrested For Attempting To Flee United States
Former United States Secret Service Agent Shaun Bridges was arrested for attempting to flee the United States last Thursday. Bridges was scheduled to surrender for the purpose of serving his prison sentence on Friday. After having plead guilty in June, Shaun Bridges was sentenced to serve 71 months in prison this past December.
Bank Of Japan Takes Interest Rates Negative
The Bank of Japan has introduced a negative interest rate policy a mere week after Bank Governor Haruhiko Kuroda assured the world his bank would not taking such a course of action anytime "soon" (archived). The move helped to take Bitcoin and the United States dollar higher against the yen. The euro spiked higher against the yen and then regressed.
Gavin Andresen Proposes Same Hard Fork Again
United States Government saboteur and hard fork advocate Gavin Andresen has proposed the same hard fork yet another time. His latest proposal is exactly the same as the increase in "Bitcoin Classic" advocated by himself, Toomim, and serial scammer and morally bankrupt hamplanet Marshmallow Long1. As the exact same proposal has been roundly dismissed in the form of Bitcoin Classic, the chances of this gaining actual as opposed to astroturfed traction are likely the same.
Mass Ransomware Strike Hits Millions Of Indian Computers
A massive malware strike affecting three Indian banks and a pharmaceutical company has at a ransom of 1 Bitcoin per machine incurred a total ransom equivalent to multiple millions of United States dollars at fiat/Bitcoin interface reported exchange rates (archived). Apparently only select machines operated by executives had their ransoms paid, but as the source article notes even with the files decrypted malware may remain allowing for easier insertion for future penetrators. Paying ransomware demands is the recovery method officially endorsed by the United States Federal Bureau of Investigation.
The particular piece of ransomware used in this strike goes by the name LeChiffre (archived). It does not propagate automatically and its windows executable needs to be initiated manually. These means that to be deployed on this scale the entire network infrastructure of these enterprises was thoroughly penetrated and brought to submit to the ransomers.
NACDL Amicus: Silk Road Warrant Unconstitutional According To 4th Amendment
As the build up to the Ross Ulbrict's appellate hearing continues, the National Association of Criminal Defense Lawyers has filed an amicus brief criticizing the unconstitutionality of the investigation which lead to the persecution of Ross Ulbricht. The move comes as militia operations motivated by other breaches of the United States constitution by the Federal government have resulted in the liberation of substantial portions of Oregon. Whether the appellate court follows Judge Katherine Forrest in rejecting sanity and constitutional limits remains to be seen. Continue reading
Concerns About United States Coal Industry Intensify
Peabody coal, the largest coal mining concern in the United States, faces concerns that it could follow its smaller competitors into bankruptcy (archived). Patriot Coal, Walter Energy, and Alpha Natural resources filed for bankruptcy last year while Arch Coal filed for bankruptcy on January 11th of this year. While oil has dominated the mainstream news cycle, the energy extraction industry as a whole is leading the fiat march to suffering. Continue reading
Fiat Markets Continue Slide As fiat/BTC Interface Prices Recover
IMF: Bitcoin Features Present "Risks" To Us
In a recent blog post the International Monetary Fund presented a key feature of Bitcoin as a "risk" to its agenda, namely the one where Bitcoin allows people to transact without regard for various controls states would like to impose (archived). They further advocated the populist misconception that Bitcoin exists for the poor who have been excluded from existing financial services due to their poverty.