bitcoin

Trump’s Crypto Embrace Could Be a Disaster for Bitcoin
02 Aug

Trump’s Crypto Embrace Could Be a Disaster for Bitcoin

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Donald Trump is an unlikely crypto ally. The power of bitcoin, embodied in Satoshi Nakamoto’s founding document, is that it frees participants from murky assessments of trust, instead relying on the bedrock of proof.Bitcoin is truth. So it was cosmically weird last week to hear the attendees of the Bitcoin 2024 conference in Nashville enthusiastically hailing a former president who, by one painstakingly compiled count, lied 390,573 times in his single term in office. The believers of a mathematically indisputable blockchain poured on the hosannas as Donald Trump delivered a speech bulging with falsehoods, fabrications, and fantasies. They hooted with…
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Bitcoin Bros Go Wild for Donald Trump
28 Jul

Bitcoin Bros Go Wild for Donald Trump

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Trump’s speech is an hour behind. A half hour into the wait, restless attendees start chanting “Trump.” The woman sitting in front of me murmurs her own chant:“Bitcoin, bitcoin—that’s what they should be chanting.” She must have gotten the memo: It’s not a Trump rally; it’s a bitcoin rally.When Trump finally takes the stage to “God Bless the USA,” he basks in the glory of his standing ovation, “thrilled…to become the first American president ever to address a bitcoin event.” His next step is to pander to his supporters in the audience. “This is the kind of spirit that will…
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Donald Trump Backs ‘Strategic Bitcoin Stockpile’ in Speech to Crypto Faithful
27 Jul

Donald Trump Backs ‘Strategic Bitcoin Stockpile’ in Speech to Crypto Faithful

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Former president Donald Trump has outlined a plan to turbocharge crypto growth and make the US a crypto mining powerhouse in his keynote address to the 2024 Nashville Bitcoin Conference on Saturday.Trump announced that if he is elected, he will create a strategic bitcoin reserve in the US. “It will be the policy of my administration to keep 100 percent of all bitcoin the US government currently holds or acquires in the future…as a core of the strategic national bitcoin stockpile,” he said.Right now, the US government owns more than 210,000 bitcoins that were seized via illegal operations like the…
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Tiny Texas Village Seeks Billion-Dollar Bitcoin Miner to Pave Potholes, Scare Dogs Away
16 Jul

Tiny Texas Village Seeks Billion-Dollar Bitcoin Miner to Pave Potholes, Scare Dogs Away

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In Oak Valley, a sleepy village in rural Navarro County, Texas, there is very little of anything. A potholed road runs through its two square miles of sun-beaten grassland, past a modest prefab community center and a “poor excuse for a park,” as the local mayor describes it.Only around 400 people live in Oak Valley. But despite its diminutive size and few resources, the Texas hamlet is preparing to fold into its borders, through unusual means, an industrial-scale bitcoin mine—a move that could increase its annual budget by as much as fortyfold.Four miles away from Oak Valley on a 265-acre…
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Craig Wright Faces Perjury Investigation Over Claims He Created Bitcoin
16 Jul

Craig Wright Faces Perjury Investigation Over Claims He Created Bitcoin

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A judge in the UK High Court has directed prosecutors to consider bringing criminal charges against computer scientist Craig Wright, after ruling that he lied “extensively and repeatedly” and committed forgery “on a grand scale” in service of his quest to prove he is Satoshi Nakamoto, creator of bitcoin.In a judgment published Tuesday, Justice James Mellor outlined various injunctions to be imposed upon Wright, after finding in May that he had “engaged in the deliberate production of false documents to support false claims [to be Satoshi] and use the Courts as a vehicle for fraud.”By order of the judge, Wright…
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After a 10 Year Wait, Mt. Gox Bitcoin Is Finally Being Returned
05 Jul

After a 10 Year Wait, Mt. Gox Bitcoin Is Finally Being Returned

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In late February 2014, Daniel was at his computer trading bitcoin on Tokyo-based crypto exchange Mt. Gox. Suddenly, the website flashed white and became unresponsive. In a panic, Daniel turned for answers to internet forum Bitcoin Talk, where speculation had already begun: Mt. Gox was in trouble.Daniel, who lives in Europe, was a university student at the time. After making a bit of money trading bitcoin on Mt. Gox, he had posted almost all of his wealth to the exchange. When Mt. Gox fell offline, Daniel says, he went into “full crisis mode.” He needed that money to fund the…
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Inside a Violent Gang’s Ruthless Crypto-Stealing Home Invasion Spree
28 Jun

Inside a Violent Gang’s Ruthless Crypto-Stealing Home Invasion Spree

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She refused to give up her password, and was, according to the prosecutors' description, so demoralized by the earlier hacking theft of the majority of her funds that she told the men to simply shoot her. Instead, they stole her engagement ring, two iPhones, a laptop, the charger for the neurostimulator used by the other member of the household as a treatment for Parkinson's disease, and whatever cash they could find, then left.For their next victim, the prosecutors describe how the group targeted a man who Seemungal knew to be a fellow SIM swapping hacker and who he believed had…
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How Researchers Cracked an 11-Year-Old Password to a $3 Million Crypto Wallet
28 May

How Researchers Cracked an 11-Year-Old Password to a $3 Million Crypto Wallet

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Grand and Bruno created a video to explain the technical details more thoroughly.RoboForm, made by US-based Siber Systems, was one of the first password managers on the market, and currently has more than 6 million users worldwide, according to a company report. In 2015, Siber seemed to fix the RoboForm password manager. In a cursory glance, Grand and Bruno couldn’t find any sign that the pseudo-random number generator in the 2015 version used the computer’s time, which makes them think they removed it to fix the flaw, though Grand says they would need to examine it more thoroughly to be…
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Craig Wright Lied About Creating Bitcoin and Faked Evidence, Judge Rules
26 May

Craig Wright Lied About Creating Bitcoin and Faked Evidence, Judge Rules

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“We’ve seen a cascading effect from the pronouncement on a host of other litigations globally,” says Grewal. “For people outside of crypto, [all this] might sound cartoonish. But with Wright’s claims falling by the wayside, the community can exhale. We think it’s a real win.”The ruling has also had implications for Bitcoin Satoshi Vision, or BSV, a separate cryptocurrency network created by Wright in 2018. The idea for BSV is to cleave “as closely as possible to Satoshi’s original design,” as the website describes it. In the days after the judge ruled that Wright is not Satoshi, the price of…
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