bitcoin

26May

By THEIRL1ADMIN01No Comments

BUSINESS

Look At Atari And Bitcoin – Innovative Products Lead To A Boom In Imitation And Often A Bust

Buried in a dusty landfill in Alamogordo, New Mexico, are more than 700,000 discarded Atari game cartridges, including E.T., the 1982 Atari game based on the blockbuster film. This bleak trove of artifacts symbolizes the video game crash of 1983, when consumer demand plummeted and companies like Atari literally dumped their cartridges in the trash. Why did the popularity of Atari video games rise exponentially only to collapse seemingly overnight? As soon as creative original Atari games like Centipede and Space Invaders hit store shelves, many, many imitations flooded the market. Lucrative ideas are often copied and replicated to capitalize on successes by the company that created the original, and by imitators. There are, for example, more than 20 movie sequels to Marvel’s “Avengers” a...

White House Launches Investigation As Bitcoin Cleanup Campaign Began

30Mar

By THEIRL1ADMIN01No Comments

CRYPTOMARKET

White House Launches Investigation As Bitcoin Cleanup Campaign Began

Nexus Media News As the White House opens a request for information on whether digital assets “impede or advance efforts to tackle climate change,” a new campaign launched to “Change the Code Not The Climate.” Multiple climate groups and a billionaire are launching the effort to pressure those invested in Bitcoin to lessen the massive environmental impact of the cryptocurrency. Some argue that’s an impossible goal and would only further entrench the already-wealthy’s hold over the system, and would likely still be incredibly inefficient and not be much better than the previous system. Bitcoin mining already consumes as much power as Sweden, and in some cases is keeping open coal and methane gas power plants that would otherwise or have already been shuttered, solely to fuel the compute...

How The Act Of Speculating Became A Financial Mania – From Tulips And Scrips To Bitcoin And Meme Stocks

30Apr

By THEIRL1ADMIN01No Comments

BUSINESS

How The Act Of Speculating Became A Financial Mania – From Tulips And Scrips To Bitcoin And Meme Stocks

In the late 1990s, America experienced a dot-com mania. In the 2000s, the housing market went wild. Today, there are manias in everything from bitcoin and nonfungible tokens to SPACs and meme stocks – obscure corners of the market that are getting increased attention. Whether these are the next bubbles to burst remains to be seen. The sudden rise of all these relatively new asset classes – or the astronomical heights they’ve reached – may seem irrational or even enchanted. Describing them as speculative manias implies that individuals are lost in forces beyond their control and needn’t take responsibility for the actions of the crowd. But, as I learned while researching my book “Speculation: A Cultural History from Aristotle to AI,” which will be published in June 2021, financial specul...

19Feb

By THEIRL1ADMIN01No Comments

LAW ENFORCEMENT

Man from Miami Beach Apprehended for Unlawful Exchange of Bitcoin for Cash

A web designer from Miami Beach is facing prosecution in the Third District Court for selling bitcoin to Ricardo Arias, an undercover detective. Michell Espinoza, aged 35, was charged with taking part in illegal transmitting and laundering of bitcoin worth $1,500. Detectives began to pursue Espinoza in 2014 when he was advertising himself as a bitcoin seller through the crypto-exchange site, LocalBitcoins.com. He would ask clients to meet him at a restaurant, bank, mall, or internet café where he would sell the bitcoins and charge a fee for his services. Just before his arrest, Espinoza went to a coffee shop on Lincoln Road to meet a client, unaware that the client was Detective Arias. He sold bitcoins worth $416.12 at a price of $500, earning him $83.18. A second meeting between the two...