Blockchain "technology" is fucking stupid and so are you. Here's why
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Date: November 21st, 2018 2:31 PM Author: judgmental senate
https://www.coindesk.com/bitcoin-mining-firm-giga-watt-declares-bankruptcy-owing-millions
U.S.-based bitcoin mining firm Giga Watt has declared bankruptcy with millions still owed to creditors.
The firm filed for Chapter 11 bankruptcy at a court in the Eastern District of Washington on Monday, revealing that it still owes its biggest 20 unsecured creditors nearly $7 million in court documents seen by CoinDesk.
Creditors include the utilities provider in its Douglas County base, having a claim of over $310,000, and electricity provider Neppel Electric, which is owed almost half a million dollars.
Giga Watt has estimated assets worth less than $50,000, whereas estimated liabilities are in the range of $10–50 million, according to the court documents.
(http://www.autoadmit.com/thread.php?thread_id=3627471&forum_id=2#37277896) |
Date: November 30th, 2018 4:21 PM Author: judgmental senate
Lmao
We documented 43 blockchain use-cases through internet searches, most of which were described with glowing claims like “operational costs… reduced up to 90%,” or with the assurance of “accurate and secure data capture and storage.” We found a proliferation of press releases, white papers, and persuasively written articles. However, we found no documentation or evidence of the results blockchain was purported to have achieved in these claims. We also did not find lessons learned or practical insights, as are available for other technologies in development.
We fared no better when we reached out directly to several blockchain firms, via email, phone, and in person. Not one was willing to share data on program results, MERL processes, or adaptive management for potential scale-up. Despite all the hype about how blockchain will bring unheralded transparency to processes and operations in low-trust environments, the industry is itself opaque. From this, we determined the lack of evidence supporting value claims of blockchain in the international development space is a critical gap for potential adopters.
http://merltech.org/blockchain-for-international-development-using-a-learning-agenda-to-address-knowledge-gaps/
(http://www.autoadmit.com/thread.php?thread_id=3627471&forum_id=2#37328692) |
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