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dr tech

TechScape: They used my identity to flog a doomed cryptocurrency - and then things got ... - 0 views

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    "Gambling on shitcoins takes the subtext of much of the crypto space and turns it into the entire purpose. There is no pretence, here, of anyone banking on widespread use, or of the coins having a purpose. The game is to find one that will go up, buy it cheap, push it as hard as you can to others, and then cash out at the top. The community takes phrases usually associated with financial crime - "shilling", "pump and dump", and so on - and wears them like a badge of honour."
dr tech

El Salvador's bitcoin experiment goes live - as president offers tech support | El Salv... - 0 views

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    ""There has been a high degree of improvisation in the rollout of Chivo and a great deal of opacity," says Ricardo Castaneda, a local economist. "The app asks for access to your microphone and your contacts, which are not needed for a wallet. Bitcoin might be a distraction but given the decision to push ahead with the plan despite popular opposition and the advice of experts, it could also be an important pillar of Bukele's political project.""
dr tech

El Salvador becomes first country to adopt bitcoin as legal tender | El Salvador | The ... - 0 views

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    "El Salvador has become the first country in the world to adopt bitcoin as legal tender after its congress approved President Nayib Bukele's proposal to embrace the cryptocurrency in an effort to promote "financial inclusion", investment and economic development."
dr tech

New cryptocurrency Chia blamed for hard drive shortages | Cryptocurrencies | The Guardian - 0 views

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    "But Chia's replacement for bitcoin's energy-intensive "proof of work" system, called "proof of space and time", instead requires users to devote massive amounts of hard drive space to generating and storing random numbers, with rewards doled out to those with the most space used up"
dr tech

People's Expensive NFTs Keep Vanishing. This Is Why - 0 views

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    "He never got the chance to find out. A week later, he opened up his digital "wallet," where the artwork would supposedly be available, and was faced with an ominous banner reading, "This page has gone off grid. We've got a 404 error and explored deep and wide, but we can't find the page you're looking for."  The artwork, which he expected to be on the page, had disappeared entirely. "There was no history of my ever purchasing it, or ever owning it," he said. "Now there's nothing. My money's gone.""
dr tech

"THE ENVIRONMENTAL ISSUES WITH CRYPTOART WILL BE SOLVED SOON, RIGHT?" | Medium - 0 views

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    "And lest you think we are dealing in long-term abstractions- this devastation has tangible, externalized cost; a recent study out of the University of New Mexico estimated that in 2018 every $1 of Bitcoin value was responsible for $0.49 in health and climate damages in the US, costs that are borne by those who will, for the most part, never see any return from cryptocurrency mining whatsoever."
dr tech

What are NFTs? Everything you need to know. - 0 views

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    "NFTs are created on Ethereum's blockchain, which is immutable, meaning it cannot be altered. No one can undo your ownership of an NFT or re-create that exact same one. They're also "permissionless," so anyone can create, buy, or sell an NFT without asking for permission. Finally, every NFT is unique, and can be viewed by anyone. "
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