Uniting the globe, reigniting old scams, and the power of hungry geeks
Welcome to the CoinDesk Weekly Review 26th July 2013 - a regular look at the hottest, most controversial and thought-provoking events in the world of digital currency through the eyes of skepticism and wonder. Your host ... John Law. Too good to be true - and those are just the names. The marvellously named Trendon T. Shavers from Texas has had his collar felt by the American authorities. They accuse him of running a Ponzi scheme under the guise of Bitcoin Savings and Trust, which turned millions of dollars' worth of bitcoin into fun for him and misery for his investors. Ponzi schemes are....
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Bitcoin is due to change the face of finance, but could have interesting social effects too, according to a leading security researcher. Mikko Hypponen, chief research officer at F-Secure, believes Bitcoin could have a major impact beyond online payments. He said: "I first heard about Bitcoin in 2009 and thought it was very interesting and invented by a genius. I first thought it was a huge waste of computing power but them realised that the system was doing something useful - tracking transactions. I'm not sure that Bitcoin will be the breakthrough digital currency, but it will be....
The alleged removal is a bit strange considering Bored and Hungry only opened its doors back in April. The Los Angeles Times reported Friday that recently opened NFT-themed burger joint Bored & Hungry no longer accepts cryptocurrency as a form of payment for its food.When questioned, one Bored & Hungry employee told the Los Angeles Times “Not today — I don’t know.” The individual didn’t give any indication of when the decision was made to cut crypto from the menu of payment options, nor did they know if crypto payments would be making a return.Bored & Hungry initially launched back in....
The World Food Programme (WFP) is utilizing the Ethereum blockchain to distribute cash assistance to the world’s hungriest families, demonstrating that the technology can aid humanitarian organizations to safely and quickly send help to nations who need it the most. In a WFP press release, Farman Ali, from the WFP Karachi provincial office, said: Blockchain can revolutionize the way WFP delivers assistance to vulnerable families across the globe. It can bring us closer to the people we serve and allow us to respond much faster. As the food-assistance branch of the United Nations and the....
The Department of the Interior of Uruguay is taking steps to warn users about the danger they face when investing in certain crypto projects that could be scams. The campaign is called “Fake Coins: Cryptocurrency Scams” and seeks to educate the population about the most common kinds of crypto scams.
Uruguay Educates on Crypto-Related Scams
More and more government bodies are becoming aware of how some parties are using crypto to execute different kinds of scams, and also more of these institutions are working to educate citizens on this fact. The Ministry of the....
Vitalik Buterin wrote that supporting DAOs with transferable governance tokens is contradictory and enables the power-hungry. The governance discussion intensifies as decentralized autonomous organizations (DAOs) become more popular in the blockchain space. The dilemma between giving power to a specific few and the freedom to voluntarily delegate decision power was highlighted in a Twitter thread created by Ethereum (ETH) founder Vitalik Buterin. In a tweet, Buterin brought up an old adage pointing out that power-hungry individuals are not suitable to lead. The Ethereum founder highlighted....