US Government Bans Professor for Mining Bitcoin with A Supercomputer
This article was written by Ruben Alexander and Brian Cohen. The NSF or National Science Foundation Office of the Inspector General (OIG) just posted on their website their March 2014 Semiannual Report to Congress (PDF with metadata create date of 5/27). This report contains a write-up on an "Administrative Investigation" by the OIG entitled....
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A National Science Foundation (NSF) researcher has been barred from working with the US government following the discovery that he used federally funded supercomputers to mine bitcoin without authorization. The administrative action was revealed as part of the latest NSF Office of Inspector General (OIG) report issued to Congress and recently posted online. The unnamed researcher is alleged to have used more than $150,000 in NSF-supported computer activity to generate an estimated $8,000 to $10,000 in BTC. The researcher asserted that he was simply conducting tests on the supercomputers,....
Exascale Power Co., a Portland, Ore. -based company that plans to build a supercomputer in New Mexico, has released more details about its plan to boost the power of the block chain processing infrastructure. Highlights include: - The company plans to increase block sizes from 1MB to 36MB, providing processing in under 10 minutes. - Exascale is introducing a new cryptocurrency called Kalbon. For the time being, the company is offering free Kalbon to anyone requesting it. Miners will have 1MB block sizes to start with and will be eligible for financing to upgrade to 36MB Kalbon. - The....
The combined forces of passionate communities with potent tools, and the deepening involvement of institutions, make successful bans less likely.
Harvard Professor of Economics and former Chief Economist at the International Monetary Fund (IMF) Kenneth Rogoff believes that governments will not allow bitcoin to flourish on a large scale. “The regulation will come in. The government will win,” he said. The professor also discussed the likelihood of a bitcoin bubble. Harvard Professor Warns of Strict Crypto Regulation Harvard University Professor Kenneth Rogoff shared some thoughts about bitcoin regulation during an interview on Bloomberg Surveillance last week. Rogoff is the Thomas D. Cabot Professor of Public Policy and a....
Decentralized global market for computing power, Golem, has announced that its Golem Network Token (GNT) crowdsale will begin on Nov. 11. The announcement claims that the token is a crucial element of the Golem network, and is designed to ensure flexibility and control over the future evolution of the project. Eddy Azar of Golem Project, tells Cointelegraph that the network, which will kick off fully in about six months time, shall be available for any computer to connect to by simply downloading a given program. The Promise of a Supercomputer. Golem has been described by its creators as a....