The bet over Ethereum's ability to make it out of 2015 alive previously covered on Qntra has climbed to more than 209 Bitcoin in total wagers. The odds have shifted with 35% of the wagers now predicting Ethereum's demise while 65% largely in early wagers stands hoping Ethereum just might have a future. Since September 25th only 1.45807 Bitcoin in new bets have come in in favor of Ethereum. At present Ethereum is trading around 0.0016 Bitcoin per Ether token a in a substantial and sustained decline from their peak price in August. Further bad news came for Ethereum near the end of September when Buterin revealed his foundation backing Ethereum was spending at a rate that would leave it insolvent.
Category Archives: Altcoins
Symbolics Quadruples Revenue in FY 2015 on One USG Transaction
The privately held firm Symbolics which holds the remaining assets and intellectual property of the former lisp machine manufacturer Symbolics, Inc is reported on the US Government's spending disclosure site to have quadrupled its revenue over last year. The transaction is reported as being for: Continue reading
Illinois and Pennsylvania Credit Ratings Lowered
Reports have emerged today that the United States regional governments of Illinois (archived) and Pennsylvania (archived) have had their credit ratings lowered joining the embattled municipality of Ferguson as the creditworthiness of the United States and its parts continue sliding due to the structural insolvency of the fiat currency experiment. Illinois was downgraded by Fitch Ratings while Pennsylvania was downgraded by Moody's. Illinois already lead the United States with the lowest credit rating of any State government, and is embroiled in a budgetary dispute between new Governor Bruce Rauner and the legislature run by the opposing political party. The financial situation in Illinois has degraded to the point the self funding state lottery can no longer pay out winning tickets about $600 with ongoing labor unrest including a teacher's strike in East Saint Louis threatening to destabilize some of Illinois most volatile areas. Pennsylvania by contrast was downgraded due to ongoing structural deficits and underfunded pension obligations.
Former GAW Supporters Promote Perpetual Energy Scam
BadBitCoin.org, a self declared "scam fighter" and erstwhile attempt at a Bitcoin Better Business Bureau, defended the GAW miners scam well past its point of collapse. Now the operators of that site have taken to shilling for a new take on the classic perpetual motion/free energy scam on their twitter account.
Well Connected Bezzle "Health" Startup Theranos Collapsing
Theranos, a health startup which features a board comprised of two former US Secretary of State, Numerous former US Defense Officials, a former Senator, and a former Wells Fargo CEO is facing accusations of their signature blood testing service was never accurate to a useful degree and they have withdrawn all but one product from the market (achived). Theranos was at one point reportedly valued at up to 10 Billion dollars, or a little more than a half of Whatsapp at the time of its acquision by Facebook. This suggest that even well entrenched fiat luminaries like Henry Kissenger and former Senate Majority Leader Bill Frist, MD are beyond saving fiat startups they involve themselves with from excessive hype and insufficient competence.
Carl Mark Force IV To Be Sentenced Monday, Prosecutors Request 87 Months Imprisonment
Insubordinate United States Government Drug Enforcement Agent Carl Mark Force IV will be sentenced at a hearing on Monday. Reports are that Prosecutors are only requesting a sentence of 7 years and 3 months of imprisonment for Force IV who committed crimes against the United States Government as opposed to Ulbricht's life sentence for simply seeking the freedom to act outside of the United States Government. Force IV announced his intention to plea guilty back in June.
Uber Provides Alibi for Armed Robbery
The advent of unmarked "sharing economy" taxi cabs is providing a new alibi for getaway drivers and accomplices of armed robberies, reports confirm (archived). Continue reading
Fiat Broker Broker Scottrade Hacked
This evening Fiat stock broker and online investment management portal Scottrade revealed it was hacked in an email to customers. The advised customers that critical personally identifying information was in all probability taken from their servers. In the email they offer that they have evidence they were breeched roughly around 2013 and 2014 without being more specific. Numerous fiat based financial services providers this year have not only had to weather attacks to their own infrastructure, but attacks which leveraged information attained in other breaches degrading their ability to provide services at all. Information publicly disclosed on the Scottrade breach so far was offered in an email to customers which availed them of a dubious credit monitoring service. Users of fiat services like Scottrade and of supposedly Bitcoin services that swear allegiance to customs of the fiat identity theft tradition are advised to stop doing that before you find yourself insolvent. The full text of the email is available below: Continue reading
Bharara Snubbed By Supreme Court
Bloomberg reports that the United States Supreme Court has refused to consider whether convictions won by Preet Bharara should not have been overturned on appeal (archived). While this decision to decline entertaining Bharara's zealotry only immediately rescues three defendants from the jeopardy of having their cases revived, it lays the groundwork for hundreds of other defendants to have their convictions or guilty pleas vacated under the higher standard for insider trading criminal liability established by the appellate court. This is a severe blow to the embattled Bharara's office which will now be burdened by the influx of defendants looking for freedom from the sanctions criminally imposed on them by Bharara. This is just the latest even in a long downward spiral of reality hitting Preet Bharara after his unjustly criminal prosecution of Ross Ulbricht.
Buterin's Waterfall Nearly Spent
In a post on the Ethereum foundation's blog Vitalik Buterin with substantial optimism announced that the Ethereum Foundation has nearly spent down all of its reserves (archived). The Vitalik claims Ethereum Foundation expenses of roughly 410,000 Swiss Francs per month though he assures readers he can bring that down to a third of a million Swiss Francs in the near future and a quarter of a million Swiss Francs per month further into the future. Buterin claims approximate reserves of 200,000 Swiss Francs, 1800 BTC which will continue to be dumped onto the markets, and 2,700,000 of their own Ether tokens. A further amount of roughly half a million Swiss Francs, or nearly a month of their operating costs is claimed to be held in reserve for legal contingencies. Buterin's own estimate for the depletion of his Foundation's funds is June of 2016 though their burn rate suggests insolvency may arrive much sooner. When paired with claims of extraordinarily desperate measures being taken by Confiscatory agents of the state to acquire more Bitcoin (archived), it appears Buterin's Waterfall may be nearing the end of its most effective days.