A top official of India's central bank has compared cryptocurrency to a "Ponzi scheme" and suggested an outright ban in its sharpest criticism just weeks after the government proposed taxation of the virtual digital asset and paved way to recognize it as legal tender in the world's second-largest internet market. From a report: T. Rabi Sankar, deputy governor of Reserve Bank of India (RBI), told an audience at a banking conference that cryptocurrencies have been "specifically developed to bypass the regulated financial system," and are not backed by any underlying cash flow. "We have also seen that cryptocurrencies are not amenable to definition as a currency, asset or commodity; they have no underlying cash flows, they have no intrinsic value; that they are akin to Ponzi schemes, and may even be worse," he said. "As a store of value, cryptocurrencies like bitcoin have given impressive returns so far, but so did tulips in 17th century Netherlands."

An anonymous reader quotes a report from Motherboard: The most insufferable part of every Super Bowl Sunday has historically, without fail, been the ads. This year was no exception, with an unrelenting barrage of ads trying to manifest the metaverse, convince viewers they're missing out on crypto, and lure new blood to online and physical casinos. Results were mixed. Coinbase, in one ad named WAGMI ("we're all going to make it"), crafted an advertisement that bounced a QR code around the screen, changing colors each time it hit the edge like an old-school DVD menu. Scanning the QR codewhich immediately forfeits your right to enter heaventakes the user to this page, where Coinbase offers $15 in Bitcoin for signing up as well as a chance to enter a contest to win one of three prizes for $1 million worth of Bitcoin. The linked webpage went down almost immediately thanks to the increased traffic from the ad, and ridicule at the idea of paying millions of dollars to send millions of viewers to a down site poured in from around the web.

To Coinbase, though, the ad was a success. In a blog post congratulating itself on the advertisement and interviewing Coinbase Chief Marketing Officer Kate Rouch about why the ad was so good, the company revealed it saw "20M+ hits on our landing page in one minute" which "led to us temporarily throttling our systems." Chief executive Brian Armstrong took to Twitter to gloat about the ad: ranked #1 by AdWeek and peaking at #2 in the Apple App Store, just ahead of apps for the Pepsi Super Bowl Halftime Show and the NFL. As it turns out, putting up nothing but a QR code in the middle of a widely-watched sports event and offering free money as well as a chance to win $3 million is a good way to build interest in your app. When Motherboard reached out to Coinbase about the ad, the company directed Motherboard to Rouch's blog post and reiterated its main points.

While taking a victory lap for the apparent success of its ad, Coinbase took the time to explain why this is definitely not at all like the dotcom bubble, which many critics have said is an apt comparison for Sunday's ads. "There have been a lot of comparisons to the dot.com era and speculation that many of the crypto companies advertising in this year's Super Bowl will inevitably fail," said Rouch in Coinbase's blog post. "We don't think about it that way and judging from the early response we've seen, Super Bowl viewers don't either." Rouch insisted that the sheer number of crypto ads in the Super Bowl was "yet another signal that crypto is bursting into the mainstream, and at the center of the cultural zeitgeist." Further reading: This Year's Super Bowl Broadcast May Seem 'Crypto-Happy'. But the NFL Isn't

As cryptocurrencies gain wider acceptance, the division of the family stash has turned into a major source of contention, with estranged couples trading accusations of deception and financial mismanagement. From a report: An ugly divorce tends to generate arguments about virtually everything. But the difficulty of tracking and valuing cryptocurrency, a digital asset traded on a decentralized network, is creating new headaches. In many cases, divorce lawyers said, spouses underreport their holdings, or try to hide funds in online wallets that can be difficult to get into. "Originally, it was under the mattress, and then it was the bank account in the Caymans," said Jacqueline Newman, a divorce lawyer in New York who works with high-net-worth clients. "Now it's crypto." The rise of cryptocurrencies has provided a useful medium of exchange for criminals, creating new opportunities for fraud. But digital assets are not untraceable. Transactions are recorded on public ledgers called blockchains, enabling savvy analysts to follow the money.

Some divorce lawyers have come to rely on a growing industry of forensic investigators, who charge tens of thousands of dollars to track the movement of cryptocurrencies like Bitcoin and Ether from online exchanges to digital wallets. The investigative firm CipherBlade has worked on about 100 crypto-related divorces over the last few years, said Paul Sibenik, a forensic analyst for the company. In multiple cases, he said, he has traced more than $10 million in cryptocurrency that a husband hid from his wife. "We're trying to make it a cleaner space," Mr. Sibenik said. "There needs to be some degree of accountability." In interviews, nearly a dozen lawyers and forensic investigators described divorce cases in which a spouse -- usually the husband -- was accused of lying about cryptocurrency transactions or hiding digital assets. None of the couples agreed to be interviewed. But some of the divorces have created paper trails that shed light on how these disputes unfold.

During today's telecast of the Super Bowl, 100 million Americans will see at least three commercials promoting cryptocurrency, reports the Washington Post, "and though Tom Brady may be gone from the game, he hovers over it, hawking crypto exchange FTX."

"Yet the hype belies a more complicated relationship. Unlike the National Basketball Association, the National Football League, the country's most popular sports league, has essentially prohibited its teams from using crypto." It's a microcosm of the broader cultural battle between those touting the currency as the shiny future and others warning of its dangers.... [T]he headlines often come with a negative tint. New York Times columnist and economist Paul Krugman warned last month about crypto's parallels to the subprime mortgage crisis. This week, the FBI arrested a New York couple for allegedly conspiring to launder billions in crypto. That can scare the large corporate entities of professional sports, particularly the NFL, whose love of fresh revenue sources is matched only by its fear of public relations disasters.... In September, a memo revealed by the Athletic showed the league's restrictive attitude toward crypto... "Clubs are prohibited from selling, or otherwise allowing within club controlled media, advertisements for specific cryptocurrencies, initial coin offerings, other cryptocurrency sales or any other media category as it relates to blockchain, digital asset or as blockchain company, except as outlined in this policy," it said.

The NFL has made some forays into NFTs, or non-fungible tokens, the digitally watermarked tools that are crypto's less controversial cousin, signing up for a partnership with Ticketmaster for NFTs of Super Bowl tickets and an NFT video highlight program with Dapper Labs, one of the leaders in the space. And of course the Super Bowl is taking place at SoFi Stadium, named for the digitally minded financial firm. But sponsorships from crypto exchanges remain off-limits, and the idea of the NFL creating a cryptocurrency, which some enthusiasts have advocated, is the stuff of fantasy. Even the Super Bowl commercials going for as much as $7 million for 30 seconds — which the league authorizes — include only exchanges such as FTX and not currencies themselves....

The NFL has formed an internal working group to study the regulatory, brand and other consequences of partnering with crypto companies but has set no timetable for when its rules could be revised. Renie Anderson, the NFL's chief revenue officer, said the league is moving slowly by design. "We don't want to put everything and the kitchen sink into this," she said by phone from the site of Super Bowl events in Los Angeles. "We don't know where a lot of this is going, so what we're trying to do is testing and learning so we can understand." She cited regulatory and market forces that are still coming into focus. (The Treasury Department and other federal agencies have been ramping up their efforts to create a regulatory framework for crypto, but there remains a degree of murkiness around what the future limits might be.) The NFL, Anderson said, would rather act after there's clarity. "It's hard to unwind something like a naming rights deal," she said, "and I'd rather not have to undo opportunities two years later because there are rules against advertising or marketing certain things."

National Basketball Association executives, however, say they see a major opportunity right now.
The article also points out that one football star even says he converted his $750,000 salary to Bitcoin. Though one sports analyst calculates that if the purchase was made on November 12th, after federal and state taxes it's now worth about $35,000.

What's the lesson after $3.6 billion in stolen bitcoin was seized by America's Justice Department from the couple who laundering it?

Wired argues it all just shows how hard it is to launder cryptocurrency: In the 24 hours since, the cybersecurity world has ruthlessly mocked their operational security screwups: Lichtenstein allegedly stored many of the private keys controlling those funds in a cloud-storage wallet that made them easy to seize, and Morgan flaunted her "self-made" wealth in a series of cringe-inducing rap videos on YouTube and Forbes columns. But those gaffes have obscured the remarkable number of multi-layered technical measures that prosecutors say the couple did use to try to dead-end the trail for anyone following their money.

Even more remarkable, perhaps, is that federal agents, led by IRS Criminal Investigations, managed to defeat those alleged attempts at financial anonymity on the way to recouping $3.6 billion of stolen cryptocurrency. In doing so, they demonstrated just how advanced cryptocurrency tracing has become — potentially even for coins once believed to be practically untraceable.

Ari Redbord, the head of legal and government affairs for TRM Labs, a cryptocurrency tracing and forensics firm...points to the couple's alleged use of "chain-hopping" — transferring funds from one cryptocurrency to another to make them more difficult to follow — including exchanging bitcoins for "privacy coins" like monero and dash, both designed to foil blockchain analysis. Court documents say the couple also allegedly moved their money through the Alphabay dark web market — the biggest of its kind at the time — in an attempt to stymie detectives....Lichtenstein and Morgan appear to have intended to use Alphabay as a "mixer" or "tumbler," a cryptocurrency service that takes in a user's coins and returns different ones to prevent blockchain tracing....

In July 2017, however — six months after the IRS says Lichtenstein moved a portion of the Bitfinex coins into AlphaBay wallets — the FBI, DEA, and Thai police arrested AlphaBay's administrator and seized its server in a data center in Lithuania. That server seizure isn't mentioned in the IRS's statement of facts. But the data on that server likely would have allowed investigators to reconstruct the movement of funds through AlphaBay's wallets and identify Lichtenstein's withdrawals to pick up their trail again, says Tom Robinson, a cofounder of the cryptocurrency tracing firm Elliptic.
The arrests and "largest financial seizure ever show that cryptocurrency is not a safe haven for criminals..." Deputy Attorney General Lisa O. Monaco said in a press release. "Thanks to the meticulous work of law enforcement, the department once again showed how it can and will follow the money, no matter what form it takes."

Or, as Wired puts it, "Even if your rap videos and sloppy cloud storage accounts don't get you caught, your clever laundering tricks may still not save you from the ever-evolving sophistication of law enforcement's crypto-tracers."

"When Brent Whitehead and Matt Lohstroh were sophomores at Texas A&M University, they decided to get into the business of mining bitcoin on the oil fields of East Texas," reports CNBC: Whitehead, an engineer hailing from a family with a long history in oil and gas production, and Lohstroh, a finance major with a bitcoin obsession, ignored the skeptics, and sunk all the cash they had earned from their high school side gigs in lawn care and landscaping into Giga Energy Solutions, a company that mints bitcoin from stranded natural gas.

For years, oil and gas companies have struggled with the problem of what to do when they accidentally hit a natural gas formation while drilling for oil. Whereas oil can easily be trucked out to a remote destination, gas delivery requires a pipeline. If a drilling site is right next door to a pipeline, they chuck the gas in and take whatever cash the buyer on the other end is willing to pay that day. But if it's 20 miles from a pipeline, drillers often burn it off, or flare it. That is why you will typically see flames rising from oil fields. Beyond the environmental implications of flare gas, drillers are also, in effect, burning cash. To these two 23-year-old Aggie alums, it was a big problem with an obvious solution.

Giga places a shipping container full of thousands of bitcoin miners on an oil well, then diverts the natural gas into generators, which convert the gas into electricity that is then used to power the miners. The process reduces CO2-equivalent emissions by about 63% compared to continued flaring, according to research from Denver-based Crusoe Energy Systems. "Growing up, I always saw flares, just being in the oil and gas industry. I knew how wasteful it was," Whitehead told CNBC on the sidelines of the North American Prospect Expo summit in Houston, a flagship event for the industry. "It's a new way to not only lower emissions but to monetize gas." Whitehead tells CNBC they have signed deals with more than 20 oil and gas companies, four of which are publicly traded. Giga also says they're also in talks with sovereign wealth funds, and they are expanding, fast.

Giga's 11-person team is adding another six employees this month.... Giga tells CNBC that its revenue was more than $4 million in 2021, and it's on track to earn more than $20 million by the end of 2022. Whitehead says that some of their mining sites have helped to revitalize the local economy by creating jobs, such as field technicians and bitcoin pumpers, who go out to check the sites. In the small communities where they've set up a bitcoin mine, they are sometimes the largest source of revenue. "An area that was just a ghost town has now found ways to take their stranded energy that they were wasting and monetize it, and that's what gets me excited, because like that's what is helping the community overall," said Whitehead.

Intel is entering the blockchain mining market with an upcoming GPU capable of mining Bitcoin. From a report: Intel insists the effort won't put a strain energy supplies or deprive consumers of chips. The goal is to create the most energy-efficient blockchain mining equipment on the planet, it says. "We expect that our circuit innovations will deliver a blockchain accelerator that has over 1,000x better performance per watt than mainstream GPUs for SHA-256 based mining," Intel's General Manager for Graphics, Raja Koduri, said in the announcement. (SHA-256 is a reference to the mining algorithm used to create Bitcoins.)

News of Intel's blockchain-mining effort first emerged last month after the ISSCC technology conference posted details about an upcoming Intel presentation titled: "Bonanza Mine: An Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC." ASICs are chips designed for a specific purpose, and also refer to dedicated hardware to mine Bitcoin. Friday's announcement from Koduri added that Intel is establishing a new "Custom Compute Group" to create chip platforms optimized for customers' workloads, including for blockchains.

An anonymous reader quotes a report from Bitcoin Magazine: Users of Block's mobile payments platform Cash App can now make instant and free bitcoin payments through the Lightning Network, the company tweeted on Monday. The integration of Bitcoin's second-layer protocol for faster and cheaper transactions was made possible by the Lightning Development Kit, an open-source project developed by another company owned by Block, Spiral. The Lightning Development Kit (LDK) is a flexible Lightning implementation geared towards developers who want to integrate Bitcoin's Lightning Network into their applications frictionlessly. It abstracts away complexities of Lightning, enabling developers to integrate the network easier and faster into their apps.

Jack Dorsey said in a fireside chat last week with Michael Saylor, the CEO of software intelligence company MicroStrategy, that having Cash App integrate Lightning through the Spiral's work was one of the proudest moments of his career. [...] Despite critics saying that Bitcoin cannot be used as a means of exchange due to its base layer's slow settlements, Lightning empowers Bitcoin to handle the smallest of payments for little to no cost. Now, all Cash App users can also leverage Lightning to send small payments instantly and for free. However, it seems that Cash App cannot yet receive Lightning transactions itself -- only send them.

Americans tuning in to the Super Bowl on Sunday will be inundated with ads from cryptocurrency companies, including the trading platform FTX, which plans to give away millions of dollars in bitcoin. From a report: FTX has spent heavily on sports partnerships to try to make itself a brand name in crypto, including an ad with NFL star Tom Brady, a sponsorship with Major League Baseball and a $135 million deal to rename the Miami Heat's stadium the FTX Arena. Co-founder and chief executive Sam Bankman-Fried, who recently moved FTX's headquarters from Hong Kong to the Bahamas, says the ads are as much about courting U.S. regulators as getting customers to download its trading app.

"We want to make sure that we're painting, hopefully, a healthy image of ourselves and the industry," said Bankman-Fried, 29, who has a net worth of more than $24 billion, according to Forbes. "We're optimistic that we're going to be able to grow our U.S. business -- a lot of that is working with U.S. regulators on bringing new products to market." The crypto industry includes virtual currencies such as bitcoin and Ether, as well as non-fungible tokens, or NFTs, that can provide proof of ownership for assets such as digital images or weapons within video games. Both cryptocurrencies and NFTs are built using an information-storing technology called blockchain.

The Justice Department announced Tuesday morning it seized more than $3.6 billion in allegedly stolen cryptocurrency linked to the 2016 hack of Bitfinex. As part of the operation, authorities detained a New York couple on allegations they planned to launder the digital goods. From a report: It marks the agency's largest financial seizure ever, Deputy Attorney General Lisa Monaco said in a statement. Officials said they arrested Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31 and who also goes by the alias "razzlekhan". The couple is scheduled to make their initial appearances in federal court later in the day. Authorities accuse the pair of trying to launder the proceeds of 119,754 bitcoin that were stolen from Bitfinex's platform after a hacker breached Bitfinex's systems and initiated more than 2,000 unauthorized transactions. Prosecutors allege that the transactions sent the stolen bitcoin to Lichtenstein's digital wallet. Officials said they were able to seize more than 94,000 bitcoin, which was valued around $3.6 billion at the time of seizure. In all, the total stolen bitcoin is presently valued at approximately $4.5 billion, according to the agency. A 2019 rap video by Morgan.

A group of major cryptocurrency firms including Coinbase, Circle, Anchorage Digital and Huobi Global are forming a new coalition aimed at cracking down on market manipulation in an effort to instill trust in the burgeoning digital asset industry. From a report: The Crypto Market Integrity Coalition, which was convened by risk-monitoring software company Solidus Labs, is also urging digital currency companies to sign a market integrity pledge that acknowledges the potential for fraud in the cryptocurrency space and the need for the industry to protect investors. "It really is about recognizing that you need entities that are focused on a fair and orderly system here, and really trying to prevent the abuses that can happen if you're not paying attention," said Kathy Kraninger, vice president of regulatory affairs at Solidus Labs and former director of the Consumer Financial Protection Bureau. The new alliance and pledge comes as regulators remain concerned the new market is safe for investors, despite its surge in popularity. The Securities and Exchange Commission has cited the potential for market manipulation as one of the primary reasons for rejecting several applications for spot bitcoin exchange-traded funds.

CNBC interviewed six adult entertainers about cryptocurrency use, including webcam performer Allie Eve Knox, who became interested in cryptocurrencies after "several vendors, including PayPal, Square Cash, and Venmo, shut down her accounts because of red flags related to sex work." [T]he biggest attraction was having total and irreversible ownership over the money she had earned. "I could cash it out. I could hold it. I could watch it go up and down," said Knox. "It was mine." Knox is one of many adult workers who say that cryptocurrencies like bitcoin give them a sense of security and independence as banks, credit card companies, and payment processors tighten regulations around adult content. With crypto, there is no middleman making a judgment call on which transactions are acceptable....

"The majority of sex work in the U.S. is legal. It's not dealt with fairly, but it's still legal," explained Kristen DiAngelo, an activist and Sacramento-based sex worker who has spent over four decades in the industry.... Some escorts — who charge anywhere from $1,700 an hour to $11,000 for a full 24 hours — now explicitly say in their ads that they prefer to be paid in bitcoin or ethereum.... DiAngelo tells CNBC she will never forget the first time her bank account was closed without warning.... DiAngelo called Citibank and learned that her account had been frozen and she should tear up her credit card. DiAngelo says the customer service rep told her that they weren't "at liberty" to tell her why it had happened, and she would have to write a formal letter to request additional details.

They did, however, say that she was still responsible for any money owed.... There was particular irony in her situation, as DiAngelo did a stint as a stockbroker at Citibank in the 1980âs, always pays her taxes, and has a credit score over 800.... [S]he brought her money to another bank. When they also flagged and closed her account, she moved on to the next. After being shut out of a third bank, DiAngelo says she turned exclusively to bitcoin for her online banking needs. Nearly every sex worker interviewed for this story mentioned platform hopping....

Nowadays, it's par for the course to see adult websites accept cryptocurrency, and some deal in it exclusively... Some adult media companies have even turned to blockchain technology to develop their own digital currencies and platforms....

Sex workers who do accept crypto also have to contend with volatile prices, which can cut into their earnings. For instance, bitcoin is down more than 40% from its November all-time high.
Knox also tells CNBC she's sold photos of herself as NFTs on sites like OpenSea. "Thus far, the most she's gotten from a single sale is $1,200 worth of ethereum."

ZDNet reporter Steven Vaughan-Nichols has solved the mystery of whether Linus Torvalds is Bitcoin creator Satoshi Nakamoto: no.

But what's interesting is why the reporter had to ask in the first place: In a GitHub Linux kernel repository, it appeared Torvalds had changed a single line in the Linux Kernel. The change: 'Name = I am Satoshi....' Torvalds himself has been suspected of being Nakamoto several times over the years. But no one who knows him well, and I consider myself one of those, have ever thought he was the Bitcoin mastermind. It's just so, so not Linus.

So, while many people were discussing the "evidence," I decided just to ask Linus. Here's what he had to say.

"I'm afraid that is just a jokester taking advantage of how GitHub works — it shares git objects between different repositories, so you can use the SHA1 'name' of an object to specify something you did in your own tree, and then use my repository as the web name, and make it look like your object is in my tree...." Torvalds went on, "So the "torvalds/linux" part of that URL is basically just empty noise, designed to fool people into thinking it's in my tree. You could replace it with [another] GitHub repository name — the actual relevant part is just the SHA1 hash part...."

"So no," Torvalds concluded, "I'm sadly not the owner of a huge stash of original bitcoins."

And, there you have it, folks. Nakamoto's real identity remains a secret.
Late last year Vaughan-Nichols also reported on what happened when Linux Foundation executive director Jim Zemlin suggested Torvalds sell an NFT of the 1991 email that first announced Linux to the world .

"An amused and appalled Torvalds replied, "I'm staying out of the whole craziness with crypto and NFTs. Those people are cuckoo!"

The government of El Salvador on Monday rejected a recommendation by the International Monetary Fund to drop Bitcoin as legal tender in the Central American country. ABC News reports: Treasury Minister Alejandro Zelaya angrily said that "no international organization is going to make us do anything, anything at all." Zelaya told a local television station that Bitcoin is an issue of "sovereignty." "Countries are sovereign nations and they take sovereign decisions about public policy," he said.

The IMF recommended last week that El Salvador dissolve the $150 million trust fund it created when it made the cryptocurrency legal tender and return any of those unused funds to its treasury. The agency cited concerns about the volatility of Bitcoin prices, and the possibility of criminals using the cryptocurrency. After nearly doubling in value late last year, Bitcoin has plunged in value. Zelaya said El Salvador has complied with all financial transaction and money laundering rules.

Block Chief Executive Officer Jack Dorsey criticized Meta Platforms' failed cryptocurrency project, Diem, saying the company's time would have been better spent focused on advancing Bitcoin. From a report: Dorsey said Tuesday that Meta's approach to Diem, a proposed cryptocurrency formerly known as Libra that came to an unceremonious end this week, wasn't open enough. Instead, Dorsey says Meta was too focused on driving people to its own suite of products, like WhatsApp and Instagram.

"They tried to create a currency that was owned by Facebook -- probably for the right reasons, probably for noble reasons -- but there were also some reasons that would indicate trying to get more and more people onto the Facebook ecosystem," Dorsey said Tuesday at the MicroStrategy World conference. "They did that instead of using an open protocol and standard like Bitcoin. Hopefully they learned a lot, but I think there was a lot of wasted effort and time," he added. "Those two years or three years, or however long it's been, could have been spent making Bitcoin more accessible for more people around the world, which would also benefit their Messenger product and Instagram and WhatsApp."

Software engineer Molly White has been a Wikipedia editor since 2006 (and also served several terms on the site's Arbitration Committee). White is now a Wikipedia administrator and functionary — and just published an Opinion piece opposing the continued acceptance of cryptocurrency donations for the Wikimedia Foundation.

Here's an excerpt from White's remarks in The Signpost, an online newspaper for (English-language) Wikipedia that's been published online since 2005 with contributions from Wikipedia editors:

When the Wikimedia Foundation first began accepting cryptocurrency donations in 2014, it was still fairly nascent technology. Cryptocurrencies resonated with many in free and open-source software communities and in the Wikimedia movement more specifically, and cryptocurrency projects tended to share similar ideals: privacy, anonymity, decentralization, freedom. In more recent history, cryptocurrencies and blockchain-based technologies more generally have morphed into something very different from the ideals of their youth. Some proponents continue to speak about freedom and decentralization, but the space has overwhelmingly become an opportunity for self-enrichment at the expense of others and the environment.

Cryptomining operations set up shop in locations with low energy costs — until late 2021, most bitcoin mining happened in China, where it relied on coal so heavily that the resulting coal mining accidents from increased demand contributed to a crackdown on the practice. Some of those miners moved to Kazakhstan, where they were using the nation's supply of lignite (an extremely harmful form of coal) to produce 18% of the global computing power behind bitcoin in January. Bitcoin mining alone rivals the total energy use of countries like the Netherlands or Finland;456 emissions from other popular cryptocurrencies like ethereum only compound the problem.

Furthermore, in recent years, more and more enthusiasts are being convinced that they too might strike it rich by buying in early to the next bitcoin or the next ethereum. But unfortunately, the playing field more often resembles a landscape with scammers and marks. Many are convinced that purchasing these currencies is an "investment", rather than risky speculation that would be more accurately described as gambling if not outright investment fraud. People are regularly scammed for enormous sums of money, and the anonymous, nominally decentralized, and largely unregulated nature of the space offers them little recourse.

The purported benefits of cryptocurrencies have also been largely unrealized. Rather than empowering the unbanked and distributing wealth to those in need, as once described, money has been hoarded in incredible amounts by a few wealthy individuals — 0.01% of bitcoin holders collectively own 27% of bitcoin in circulation, equivalent to around $232 billion. Furthermore, the underlying technology is enormously slow and difficult to scale when compared to databases used in most modern computing, so many technologies built around blockchains have spawned new, centralized solutions to the problems the blockchains themselves have introduced. As a result, the decentralization of the web that was supposed to result from the adoption of blockchain technologies has only resulted in the centralization of power in a handful of companies and venture capital firms.

The Wikimedia Foundation's acceptance of cryptocurrency donations has had minimal returns, and no longer accepting them is unlikely to have a major impact on the Foundation's ability to fundraise. In 2021, the Wikimedia Foundation only received about $130,000 in donations via cryptocurrency, making it one of their smallest revenue channels at only 0.08% of total donations. The benefits to donors are also minimal: the anonymity that might normally be offered to those who use cryptocurrencies is largely nullified by the WMF's cryptocurrency payment processor, BitPay, which requires prospective donors to disclose their identities.

The most impactful result of the WMF's acceptance of cryptocurrencies has been to normalize their use. As the technology space around blockchains has evolved over the years, so too should we. Cryptocurrencies have been joined by a bubble of predatory, inherently harmful technologies that take advantage of individuals and contribute to the destruction of our environment. It is no longer ethical for the Wikimedia Foundation to tacitly endorse a technology that incentivizes the predatory behavior that has become rampant in the cryptocurrency space in the past few years. I have asked that they stop doing so in an Request for Comments on meta.

"Focus on the horse race and the flashy news and you'll miss the real stories," argues Mike Loukides, the content strategy VP at O'Reilly Media. So instead he shares trends observed on O'Reilly's learning platform in the first nine months of 2021: While new technologies may appear on the scene suddenly, the long, slow process of making things that work rarely attracts as much attention. We start with an explosion of fantastic achievements that seem like science fiction — imagine, GPT-3 can write stories! — but that burst of activity is followed by the process of putting that science fiction into production, of turning it into real products that work reliably, consistently, and fairly. AI is making that transition now; we can see it in our data. But what other transitions are in progress...?

Important signals often appear in technologies that have been fairly stable. For example, interest in security, after being steady for a few years, has suddenly jumped up, partly due to some spectacular ransomware attacks. What's important for us isn't the newsworthy attacks but the concomitant surge of interest in security practices — in protecting personal and corporate assets against criminal attackers. That surge is belated but healthy.... Usage of content about ransomware has almost tripled (270% increase). Content about privacy is up 90%; threat modeling is up 58%; identity is up 50%; application security is up 45%; malware is up 34%; and zero trust is up 23%. Safety of the supply chain isn't yet appearing as a security topic, but usage of content about supply chain management has seen a healthy 30% increase....

Another important sign is that usage of content about compliance and governance was significantly up (30% and 35%, respectively). This kind of content is frequently a hard sell to a technical audience, but that may be changing.... This increase points to a growing sense that the technology industry has gotten a regulatory free ride and that free ride is coming to an end. Whether it's stockholders, users, or government agencies who demand accountability, enterprises will be held accountable. Our data shows that they're getting the message.

According to a study by UC Berkeley's School of Information, cybersecurity salaries have crept slightly ahead of programmer salaries in most states, suggesting increased demand for security professionals. And an increase in demand suggests the need for training materials to prepare people to supply that demand. We saw that play out on our platform....

C++ has grown significantly (13%) in the past year, with usage that is roughly twice C's. (Usage of content about C is essentially flat, down 3%.) We know that C++ dominates game programming, but we suspect that it's also coming to dominate embedded systems, which is really just a more formal way to say "internet of things." We also suspect (but don't know) that C++ is becoming more widely used to develop microservices. On the other hand, while C has traditionally been the language of tool developers (all of the Unix and Linux utilities are written in C), that role may have moved on to newer languages like Go and Rust. Go and Rust continue to grow. Usage of content about Go is up 23% since last year, and Rust is up 31%. This growth continues a trend that we noticed last year, when Go was up 16% and Rust was up 94%....

Both Rust and Go are here to stay. Rust reflects significantly new ways of thinking about memory management and concurrency. And in addition to providing a clean and relatively simple model for concurrency, Go represents a turn from languages that have become increasingly complex with every new release.
Other highlights from their report:

• "Quantum computing remains a topic of interest. Units viewed is still small, but year-over-year growth is 39%. That's not bad for a technology that, honestly, hasn't been invented yet...."

• "Whether it's the future of finance or history's biggest Ponzi scheme, use of content about cryptocurrency is up 271%, with content about the cryptocurrencies Bitcoin and Ethereum (ether) up 166% and 185% respectively...."

• "Use of JavaScript content on our platform is surprisingly low — though use of content on TypeScript (a version of JavaScript with optional static typing) is up.... Even with 19% growth, TypeScript has a ways to go before it catches up; TypeScript content usage is roughly a quarter of JavaScript's..."

• "Python, Java, and JavaScript are still the leaders, with Java up 4%, Python down 6%, and JavaScript down 3%...."

• "Finally, look at the units viewed for Linux: it's second only to Kubernetes. While down very slightly in 2021, we don't believe that's significant. Linux has long been the most widely used server operating system, and it's not ceding that top spot soon."

At least 26 public corporations are holding bitcoin on their balance sheets, according to data compiled by cryptocurrency analytics firm CoinGecko. Since the price of cryptocurrencies began to plummet in November, they've collectively lost nearly $7 billion. Quartz reports: The price of Bitcoin peaked above $67,000 on Nov. 8, but has since fallen 46%. Corporate crypto holdings for the largest 26 totaled at least $14.7 billion at the height of the rally. As of Jan. 26, they're worth $8 billion. The companies -- which include electric carmaker Tesla, financial services startup Square, and South Korean video game developer Nexon, along with a slew of crypto miners, exchanges, and investment firms -- hold 217,240 bitcoin. That's a little more than 1% of all the bitcoin in the world.

Texas governor candidate Don Huffines said he is "committed to making Texas the citadel for bitcoin and has released a plan detailing the effort. "As a leader in innovation, Texas needs to lead the nation in Bitcoin & cryptocurrency adoption," it reads. "Not only by acknowledging, supporting, and promoting the industry, but by also using our natural resources and the power of our state to legitimize Bitcoin as a store of value, medium of exchange, and unit of account."

Huffines says the state must stop the federal government from "discriminating against Bitcoin holders" and "trying to shut down or limit freedom-loving Texans investing in Bitcoin." Not only does the plan call for a declaration making bitcoin a legal tender but it calls for establishing the Bitcoin & Cryptocurrency Policy Commission, "which will be tasked with identifying the utility of currencies that can be recognized as accepted Texas currency."

Do you agree with what Huffines proposes or do you think he's simply pandering for votes by capitalizing on the red-hot crypto craze?

This new political breed accepts paychecks in Bitcoin. The mayors also want to use buzzy new tech like NFTs to raise money for public projects. From a report: The ballooning popularity of Bitcoin and other digital currencies has given rise to a strange new political breed: the crypto mayor. Eric Adams, New York's new mayor, accepted his first paycheck in Bitcoin and another cryptocurrency, Ether. Francis Suarez, Miami's mayor, headlines crypto conferences. Now even mayors of smaller towns are trying to incorporate crypto into municipal government, courting start-ups and experimenting with buzzy new technologies like nonfungible tokens, or NFTs, to raise money for public projects. Their growing ranks reflect the increasing mainstream acceptance of digital currencies, which are highly volatile and have fallen in value in recent days. The mayors' embrace of crypto is also a recognition that its underlying blockchain technology -- essentially a distributed ledger system -- may create new revenue streams for cities and reshape some basic functions of local government.

"Mayors rationally want to attract high-income citizens who pay their taxes and impose few costs on the municipality," said Joseph Grundfest, a business professor at Stanford. "Crypto geeks fit this bill perfectly." But as with many ambitious crypto projects, it's unclear whether these local initiatives will ultimately amount to much. So far, most are either largely symbolic or largely theoretical. And the mayors' aims are partly political: Crypto boosterism has a useful bipartisan appeal, garnering popularity among both antigovernment conservatives and socially liberal tech moguls. "You can do these things because you want to be associated with dudes with AR-15s, or you want to be associated with Meta," said Finn Brunton, a technology studies professor at the University of California, Davis, who wrote a 2019 book about the history of crypto. "A lot of it is hype and hot air."