Connect with us

Bitcoin News

Rothschild-Linked Oil Tycoon Makes Waves in Bitcoin Mining Pool

Rothschild-Linked Oil Tycoon Makes Waves in Bitcoin Mining Pool

Rothschild-Linked Oil Tycoon Makes Waves in Bitcoin Mining PoolThe Argo Blockchain bitcoin mining pool has seen a major company shakeup with a big investment from a London-based oil and gold tycoon. | Source: Shutterstock Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here.By CCN: A big shakeup at Argo Blockchain, the beleaguered bitcoin mining company that owns Argo Mining, has revealed that a Rothschild-linked London oil tycoon with a shadowy past just did the cannonball dive into the deep end of the crypto mining pool.As if you needed any more evidence that bitcoin has found the bottom of its year-plus-long bear slump, with the foundations already laid for a massive bitcoin bull run in 2019!Bitcoin Mining Firm Fires Top Brass, Onboards Oil BarronFrank Timiș, a 56-year-old Romanian-Australian businessman worth over $2 billion with deep interests in oil and gold mining, was revealed as a part owner of Argo Mining after a company shakeup that led to the ouster of two top Argo executives.The company also announced a massive overhaul of its entire business plan earlier this year. Rising costs and the long crypto winter rendered Argo Blockchain’s previous cash flow model unprofitable.With Frank Timiș – who now owns a controlling 14% stake in the bitcoin mining firm, at the helm – Argo has moved on from subletting hash rate and invested in its own mining rigs.Institutional Adoption? Frank Timis Has Ties to Rothschild BankFrank Timiș has ties to Rothschild Bank. That’s about as institutional as it comes. | Source: ShutterstockThe financial establishment has been looking at cryptocurrency and the disruptive power it holds with eyes wide open for some time now. 2018 was a year of unprecedented institutional interest in bitcoin and other digital assets.2019 is poised to be an even bigger year for institutional investment, as the powers that be scramble to disrupt themselves and their competitors before letting themselves be disrupted first. Major Silicon Valley and Wall Street forces are on the move.Frank Timiș is an old oil and gold guy with economic interests that tie him firmly into the establishment. In the mid-90s, Timiș’ gold mining company, Gabriel Resources, even obtained a $3 million loan from the Rothschild Bank in the U.S. after striking gold in Australia.Bitcoin is quite arguably an economic substitute for gold, and bitcoin’s unique relationship with electricity bolsters the renewable energy industry’s threat to the fossil fuel economy.Can Bitcoin Be Corrupted?Even the banks might not be able to stop what Satoshi has wrought. | Source: ShutterstockThese titans of the 20th-century political and financial status quo will attempt to drink the entire sea because they still don’t fundamentally understand that bitcoin is a sea change in the world order. It will eventually swallow them instead.Certainly, the threat of institutional adoption is real for those blind masses who would remain shackled by the surveillance and corruption of the financial establishment.But bitcoin’s clever architecture will remain as incorruptible and universally accessible as ever despite the waves of institutional adoption.It doesn’t matter how many other people use it or how they use it. Your bitcoin will always be in your control – as long as you hold the private keys. About The AuthorWes MessamoreGrew up reading Isaac Asimov, J.R.R. Tolkien, The Bible, Ayn Rand, John Locke, and Robert Heinlein while listening to conservative talk radio, reading used economics textbooks, and reading through most mainstream political newspapers and magazines.
Source

Continue Reading
Advertisement
Loading...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin News

Moonday Mornings: Binance to resume deposits and withdrawals after $40M Bitcoin hack

It’s time for Moonday Mornings, Hard Fork’s wrap-up of the weekend’s top cryptocurrency and blockchain headlines. Here’s what happened. 1. Binance says it will resume deposits and withdrawals on its platform on Tuesday. The cryptocurrency exchange had suspended the functions following an attack in which hackers stole over $40 million worth of Bitcoin. 2. The…

Moonday Mornings: Binance to resume deposits and withdrawals after $40M Bitcoin hack

It’s time for Moonday Mornings, Hard Fork’s wrap-up of the weekend’s top cryptocurrency and blockchain headlines.

Here’s what happened.

1. Binance says it will resume deposits and withdrawals on its platform on Tuesday. The cryptocurrency exchange had suspended the functions following an attack in which hackers stole over $40 million worth of Bitcoin.

2. The figureheads of the fake cryptocurrency scheme, OneCoin, are being sued. Brother and sister duo, Konstantin Ignatov and Ruja Ignatova are facing a class action law suit for their involvement in the scam which was “based completely on lies and deceit,” ZDNet reports.

3. A Bitcoin BTC fueled ransomware attack hit the Baltimore City government last week. Despite being cleaned of the ransomware, hackers are allegedly still accessing the infected computers, ZeroHedge reports. The Federal Bureau of Investigation is now investigating the attack.

4. The creator of the Bitcoin treasure hunt Satoshi’s Treasure is claiming nearly 60,000 people are following the global challenge, CoinDesk reports. One player has already claimed the first prize, and didn’t even have to go anywhere to claim it.

And finally.

5. William Shatner is putting William Shatners on the blockchain. The former Star Trek actor is joining Mattereum, a legaltech firm, to document the authenticity of science collectibles and memorabilia from a range of franchises on the blockchain.

That’s another weekend’s headlines for you. Live long and prosper.

Published May 13, 2019 — 07:58 UTC

Source

Continue Reading

Bitcoin News

Amazon granted patent for Bitcoin-style system to fight DDoS attacks

Cryptocurrency rumor mongers are likely to be dancing today as Amazon has successfully filed a patent for a Bitcoin-styled Proof-of-Work system. But don’t get ahead of yourself, it doesn’t look like the Seattle-based ecommerce giant will be accepting Bitcoin for payments. Despite first being filed in December 2016, Amazon’s patent application was granted earlier this…

Amazon granted patent for Bitcoin-style system to fight DDoS attacks

Cryptocurrency rumor mongers are likely to be dancing today as Amazon has successfully filed a patent for a Bitcoin-styled Proof-of-Work system. But don’t get ahead of yourself, it doesn’t look like the Seattle-based ecommerce giant will be accepting Bitcoin for payments.

Despite first being filed in December 2016, Amazon’s patent application was granted earlier this week and appears to outline a system that uses Proof-of-Work to prevent distributed denial-of-service (DDoS) attacks.

“One way to mitigate against such attacks is to configure a service such that requests to the service incur some sort of expense, thereby providing a disincentive to participating in the attack,” the application reads.

Planting a Merkle Tree

Amazon proposes to use Merkle Trees to present a Proof-of-Work challenge and make it too costly for a series of computers to perform a DDoS attack.

But what’s a Merkle Tree? In short, Merkle Trees are cryptographic tools where blocks of data are manipulated to give them a unique identifier also known as a hash.

These hashes are then manipulated again to create a parent hash. Parent hashes are always a combination of two or more child hashes. It’s layers on layers of hashed data.

Since computing power is required to build a Merkle Tree, performing such hashes could get very costly in terms of time, electricity, and resources. In turn, this makes DDoS attacks economically unfeasible.

In the case of Amazon’s patent, imagine having to construct a Merkle Tree before you’re allowed to access a website hosted on one of its servers. To an individual the cost might be insignificant, but to an organization trying to carry out a DDoS attack – which might involve many hundreds of computers – it could become prohibitively expensive.

Amazon’s Merkle Tree

Merkle Trees are also used in Proof-of-Work blockchains like Bitcoin as part of its consensus mechanism. But for now that’s as close as Amazon will get to Bitcoin.

Indeed, with this news it seems Amazon is still of the “blockchain, not Bitcoin” mantra. Earlier this month, the web giant said that AT&T, Accenture, and Nestlé are all using its cloud-based blockchain tools.

Read next:

South African voters fear mobile political campaigns will steal their personal info

Source

Continue Reading

Crypto Live Prices

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
Advertisement
Loading...
Advertisement
Advertisement

Trending

Copyright © 2018 Crypto141.com