Cryptocurrency
This archive displays posts tagged as relevant to cryptocurrency, including Bitcoin and others. You may also be interested in the following pages:
December 1, 2015
The SEC charged “Bitcoin mining” companies GAW Miners andZenMiner, and their founder, Homero Joshua Garza, with conducting a Ponzi scheme to defraud investors. Bitcoin “mining” means to apply computer power to complex equations that verify a group of transactions in a virtual currency. The first computer to solve an equation is awarded new units of the virtual currency. The SEC’s complaint alleges that Garza, through GAW Miners and Zen Miners, purported to offer shares of a digital Bitcoin mining operation. In reality, the companies did not own enough computer power for the mining it promised to conduct. Therefore, most investors paid for a share of computing power that never existed. Returns paid to some investors came from proceeds generated from sales to other investors. SECEven the Mysterious Must Face the Taxman: Australian Authorities Raid Home of Suspected Founder of Bitcoin
Posted 12/10/15
By Tim McCormack
On December 9, police in Australia raided the home of a man suspected of being the elusive and previously anonymous creator of digital currency Bitcoin. Launched in 2009 by an anonymous programmer known by the pseudonym Satoshi Nakamoto, Bitcoin has since grown exponentially. Indeed, “[a]s it’s been adopted for everything from international money transfers to online narcotrafficking, the...