Midnight In The Desert — bitcoin

Was Bitcoin created by aliens? [Video]

Posted by K R on

Was Bitcoin created by aliens? [Video]

Bitcoin comes from outer space, send to us by an alien civilization. I know, that a bold statement to make, but lets investigate that statement together and see whether it could be true or not. I’m not going to explain what bitcoin is, how it works or what it does. I think most of you already are familiar with the main cryptocurrency ruling the cryptocurrency scene today. But I will repeat the fact that we don’t know who created bitcoin. Bitcoin just happened and it took of from there. I’m not going to say it’s a good thing or a...

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Chaos and hackers stalk investors on cryptocurrency exchanges

Posted by K R on

Chaos and hackers stalk investors on cryptocurrency exchanges

Dan Wasyluk discovered the hard way that trading cryptocurrencies such as bitcoin happens in an online Wild West where sheriffs are largely absent. Wasyluk and his colleagues raised bitcoins for a new tech venture and lodged them in escrow at a company running a cryptocurrency exchange called Moolah. Just months later the exchange collapsed; the man behind it is now awaiting trial in Britain on fraud and money-laundering charges. He has pleaded not guilty. Wasyluk’s project lost 750 bitcoins, currently worth about $3 million, and he believes he stands little chance of recovering any money. “It really was kind of...

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We looked inside a secret Chinese bitcoin mine

Posted by K R on

We looked inside a secret Chinese bitcoin mine

On the edge of a tiny Chinese town is a strange building where you can get an insight into the future – and only a handful of people know what is happening inside. I am on my way to visit one of the biggest bitcoin mines in the world: where up to $8m in digital currency is generated per year by solving complicated mathematical algorithms with computers. The location is secret and I have been invited under the strict condition that I live onsite with the miners. The owners don’t want to broadcast their specific location, because while the Chinese...

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Bitcoin Falls Under $300, A Sign of Doom?

Posted by K R on

Bitcoin Falls Under $300, A Sign of Doom?

Yesterday’s selloff managed to push the price of bitcoin below the $300 mark this morning, around two weeks after the cryptocurrency fell below its prior $400 floor. (In the ensuing bit, bitcoin has managed to re-crest the $300 level, a price range that it has largely kept to. Current price: $300.51, but a minute ago it was less. Keep your eyes on this.) The next question is whether the $300 price level will represent a new floor for bitcoin. That’s to say it’s will be interesting to see if $300 is the price point under which bitcoin will not sink,...

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