NJ Settlement with Controversial Bitcoin Mining Project
Tidbit, a student bitcoin mining project, was issued a subpoena by the New Jersey Division of Consumer Affairs in December 2013 and has recently reached a settlement with the regulator. The terms of the settlement prevent the developers from accessing New Jersey computers unlawfully for a period of two years in its experiment to leverage bitcoin mining against online advertising. The project, which was developed at the Node Knockout Hackathon and won a prize for innovation, posed an out-of-the-box solution to the long-standing dependence of internet companies on online advertising. It....
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The New Jersey Division of Consumer Affairs has settled with the developers behind Tidbit, a student hackathon project that experimented with bitcoin mining as an alternative to online advertising. Under the terms of the settlement, Tidbit's developers have agreed not to access New Jersey computers unlawfully for a period of two years. Should the developers be found in violation of the provision, a release from the government said they would be assessed a $25,000 penalty. The resolution marks the end of a controversial court case that began when MIT student Jeremy Rubin received a subpoena....
One of the wealthiest oligarchs in Ukraine and a former governor in one of the country’s regions are reportedly mining bitcoin in a factory located in the U.S. Ukrainian Businessmen Are Reportedly Running Crypto Mining Operations at US Factory Per Radio Free Europe (known also as Radio Liberty), Igor Kolomoisky is said to be using the facilities of a factory owned by CC Metals & Alloys (CCMA) in Kentucky to mine bitcoin (BTC), allowing him to use cheap electricity prices. However, the plant shut down its ferrosilicon production operations back in July due to the coronavirus pandemic.....
The Bitcoin Mining Council is back at it. The controversial initiative lead by Michael Saylor presented “the findings of its first quarterly survey focused on two important metrics: electricity consumption and sustainable power mix.” The broadcast was delivered via YouTube and open to the public. They choose to limit their reproduction in other sites, though. […]
Rimbit markets itself as the Next Generation in Digital Currency. It tries to sell itself as unique in many ways. It describes itself as making unique and controversial changes to provide the user with best options available. It does indeed have some controversial changes and slightly unique addition. Though not as unique as you might think. The biggest difference is in the way Rimbit has eliminated the middleman that is the lifeblood of Bitcoin and Altcoins. It goes on to explain that essentially this means that the middleman has been eliminated. That the process of mining (the perceived....
The Sydney Stock Exchange (SSX) has confirmed its project to build a public blockchain platform that will drastically reduce settlement times of trades and equities. The Sydney Stock Exchange is pressing ahead with a new blockchain settlement system that will position itself as a low-cost alternative to the current clearing and settlement system delivered by the Australian Securities Exchange (ASX). The project was initially announced in May to attract venture capital and private equity funds to exit their investments by looking to list on the SSX instead. The blockchain project is....