The week in bitcoin

Another eventful week given the doom and gloom following the revelation last week by leading developer Mike Hearn that bitcoin is doomed. If nothing else, the bitcoin speculation by various large mainstream publications certainly gives our beloved cyrptocurrency plenty of attention.

The Wall Street Journal even ran a story with the headline: “Is Bitcoin Breaking Up?” Although, Vivek Wadhwa from the Washington Post ran my favorite headline of “RIP Bitcoin. It’s time to move on.” He even narrowed the failure of bitcoin to one thing: greed. But, he did offer a solution: “build more rational, transparent, robust, accountable systems of governance to pave the way to a more prosperous future for everyone“. I’m glad he’s aiming low, but I’m not sure what planet he lives on as human kind has been trying to do that for thousands of years.

In other news, the Bitcoin mining rate hit a record of 1,000 PH/s (petaHash) or 1 exahash per second which is a pretty big number. It goes kilo, mega, giga, tera, peta, exa if you’re wondering. All this craziness basically means that more transactions were taking place than ever before – by quite a bit. Obviously no one read the Washington Post.

Big news in faucet land was Google Adsense pulling revenue from the naughty boys violating the limit of three ad units per page. This is a major source of revenue for faucets and it definitely will hit them hard. Bonus Bitcoin, Bitcoin Zebra, and Moonbit were three big names affected as they all run well more than the policy allows.

In real estate news, if you live in Philadelphia in the US you can now buy a lovely condominium in the city’s historic Manayunk district entirely with bitcoin. The idea is to lure tech-savvy buyers with the gimmick, but the seller is not taking any risks on the bitcoin price and is linking the selling price to the US dollar. Nice try!

Lastly, in Craig Wright news, we still don’t know if he is or isn’t Satoshi Nakamoto says John Koecker from Juola & Associates, a company that uses advanced linguistic analysis techniques on written text to identify authors .The system identified J.K. Rowling as the author of The Cuckoo’s Calling but drew a blank when analyzing the Bitcoin whitepaper. The search continues, I’m sure…

Until next week, keep stacking up your coin.

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