Monthly Archives: September 2013

Neo&Bee Cyprus Bitcoin Bank is Stealth Bitcoin ETF

Neo&Bee, a bitcoin financial company based in Cyprus, is having its IPO today. I was initially very excited to see a consumer bank embracing bitcoin. But as the situation unfolded I became more and more uncomfortable with the business proposition. … Continue reading

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What does one exahash look like?

The bitcoin mining network hit one petahash this weekend. If you use thegenesisblock mining dashboard to project the future bitcoin difficulty, as many prospective miners do, you get a monthly 80% difficulty increase filled in by default, based on the last several months … Continue reading

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What does One Petahash look like?

Bitcoin mining hashrate hit 1 PH today, five weeks earlier than I predicted. Ouch. As penance, I’m going to visualize one petahash using asicminer hardware as a starting point. http://www.asicminer.co/devices.html An Asicminer Blade is 10GH, so 1 PH is 100,000 … Continue reading

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Who Will Buy MtGox?

I worry about MtGox. This week I worry less than last week, because the chatter about insufficient liquidity is dimmed, and the Gox/Bitstamp difference has recently been as low as $4, and is now under $10. Maybe everything will be … Continue reading

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