I called it bullshit when Giga Watt ran an ICO last summer. Here are the results today (emphasis mine): The firm filed for Chapter 11 bankruptcy at a court in the Eastern District of Washington on Monday, revealing that it still owes its biggest 20 unsecured creditors nearly $7 million in court documents seen by… Read More One for the ‘I Told You So’ department…
While I was having a late lunch today I overheard a couple — a girl and a guy — talking about Bitcoin at the table next to me. The man was working as a bartender and had no idea what the blockchain was. I don’t know what the girl did for a living, but when… Read More “You’re Telling It Wrong…”
I spend a lot of time these days thinking about the things that prevent Bitcoin from fulfilling its destiny and becoming an everyday payment method. Today I finally reached a breakthrough that made me realize I’ve been asking the wrong question. Now I see Bitcoin in a completely different light, and this makes me happy… Read More Bitcoin Will Never Be Used for Mass Payments & This Is Good
The recent rumours about China banning ICOs and the subsequent Bitcoin crash made me put in writing something that I’ve been thinking for a long while. The so-called Initial Coin Offerings (ICOs) as a whole are a joke, most likely a scam and definitely not a good way to make money in the long term… Read More ICOs Are Bad for Ya
In one of the first posts I wrote for this blog, I talked about bitcoin profit and, more specifically, I considered possible definitions of success regarding bitcoin mining (see How to be successful at bitcoin mining? if you are interested; it is a 2-minute read). It’s been only about 3 weeks since then, and NiceHash profitability… Read More Bitcoin Profit: Time to Re-evaluate Assumptions
Among the daily flood of news regarding cryptocurrency, there is a growing section dedicated to ICOs (Initial Coin Offerings) for newer and ever weirder kinds of tokens. These ICOs follow the same logic: a white paper is published, trying to explain the uniqueness of the new coin and its application, and a purchase schedule is… Read More Giga Watt ICO — Who is Smoking Watt?