“Petro” Cryptocurrency Project

I think the idea of issuing a new cryptocurrency backed by Venezuela’s oil reserves is very interesting. The present state of the proposal may have some problems. But it’s a good start. For one, it probably can’t be worse than the existing currency of Venezuela. That currency is called the “bolivar fuerte” That means “strong bolivar” … [Read more…]

German Renewable Energy Revival

The elections in Germany on 24 September last year still haven’t resulted in a government coalition. Now a new document was published on January 12th that summarizes the results of talks between the CDU/CSU and the SPD parties. Possibly this will lead to continuing the “big coalition” that was in place until the last election. If … [Read more…]

How the MtGox Bankruptcy Should Be Resolved

MtGox mainly has 202,185 bitcoins as assets. That’s around $2.23 billion at the time of this writing. Most of the creditors’ claims are for 795,000 bitcoins that users had in their MtGox accounts. There are also some claims in fiat, but they are a very small percentage, so I will just ignore them for this … [Read more…]

“Bitcoin Cash” Trademark

Roger Ver (who used to support Bitcoin and now hates and actively fights it) just angrily ended an interview, flipping the bird to the interviewer. One of the reasons he was angry was the fact that the interviewer didn’t follow his orders to call his new “Bcash” altcoin “Bitcoin cash”. The question of what to … [Read more…]

Reviving MtGox?

Mark Karpeles floated some ideas about resolving the MtGox bankruptcy issue in this blog post on Friday. He thinks that reviving the exchange may be a solution and estimates that $245 million would be enough to do so. This would involve him selling his shares of MtGox to some investor. Or in the alternative, raise … [Read more…]

Flying a Passenger Jet with Solar Power? Yes, We Can Do that Now

Philipp Furler is a scientist working at the ETH university in Zurich. As this article at EurekAlert explains, he and his team have come up with a clever new way to make jet fuel from solar power, water and CO2 extracted from air. The process requires high temperatures of around 1,500 degrees Celsius. That’s about three … [Read more…]

Ending the MtGox Bankruptcy Procedure

The MtGox bankruptcy procedure is a very special case. That’s because bitcoin prices have risen so much that MtGox now is not only solvent, but if the case proceeds under the rules made for normal, insolvent bankrupts, the bankrupt in this case (Mark Karpeles) will be left with about a billion dollars in bitcoins not … [Read more…]