In January 2016, I spent $3,000 to buy 7.4 bitcoins. At the time, it seemed an entirely worthwhile thing to do. I had recently started working as a research director at the Institute for the Future’s Blockchain Futures Lab, and I wanted firsthand experience with bitcoin, a cryptocurrency that uses a blockchain to record transactions on its network. I had no way of knowing that this transaction would lead to a white-knuckle scramble to avoid losing a small fortune.
Read the rest of my story at Wired.com
I would say 94,504 bitcoins is real folding money, buy you can’t fold bitcoins. In any case, someone moved $1,018,147,900 worth of bitcoin between wallets and no one knows for sure who it was. The Token Analyst tweeted, “We took a look and saw that a large percentage of it could be traced to @HuobiGlobal […]
Approximately once every ten minutes, the Bitcoin network issues one “miner” with a block reward of freshly minted bitcoins. When bitcoin launched in 2009, the block reward was 50 bitcoins. Every four years, the reward is cut in half. Currently the block reward is 12.5 BTC. In May 2020 it will go down to 6.25 […]
The IRS knows about the cryptocoins and wants you to pay taxes on them. The Wall Street Journal reports that the warning letters are going out. An IRS spokesman declined to say whether the letters stem from information turned over by digital-currency platform Coinbase. In mid-March of 2018, Coinbase provided data—under a federal court order—on […]
Treat yourself, internet: We’ve rounded up some deals from the past week that were too good not to bring back for an encore. Take your pick from home goods, massagers and other tech, all at serious discounts. TREBLAB Z2 Bluetooth 5.0 Noise-Cancelling Headphones Get in the groove and stay that way with these headphones and […]
As cool as your smartphone is, it can’t do everything. When a job requires a little elbow grease, a multitool is a great thing to have around – and might just save your life in the right situation. Here’s a roundup of some of the latest multitool designs, which have come a long way since […]
Whether you own or rent your place, insurance on that home is a necessary hassle – but a new tech-driven company called Lemonade is starting to show that while it might indeed be a necessity, it doesn’t have to be a hassle. Here’s the way insurance typically works: You pay premiums and hope an accident […]