Category Archives: Cryptocurrency/block chain

GM shoots their Bolt EV in the head

Another Chevy Bolt EV caught fire this week. This seems to be GM’s response:

General Motors Co. urged some owners of Chevrolet Bolt electric cars to park and store the vehicles at least 50 feet away from other cars to reduce the risk that a spontaneous fire could spread.

Source: GM Tells Some Chevy Bolt Owners to Park 50 Feet Away From Others on Fire Risk – Bloomberg

50 feet?

This is not possible for many owners who live in apartments, many who live in urban homes (driveways are closer than 50 feet), or who need to park their car in a retailer’s parking lot, or even an employer’s parking lot, and especially those that need to park in parking garages.

Some owners say they have no possible way to meet the 50 foot restriction – even Chevy dealers will not permit them to store the unusable Bolt EVs at Chevy lots.

And what do you do when you park your vehicle well away from others – and then other people later park next to your Bolt Fire Bomb? Some think GM issued the 50 foot directive to attempt to absolve GM of liability if your car catches fire and damages other cars or property. If you cannot comply, that is your problem, not GM’s. Ugh.

This new directive comes after limiting the mileage to 100-160 miles of range (depending on the model year), and telling owners to charge outside only, and to actively watch the vehicle while charging – for 12 hours?

Owners have no estimate on when GM will begin replacing their defective batteries. The various recalls affect up to 140,000 vehicles – some think it will take one year or more to manufacture new battery packs.

Some owners are seeking to have GM provide replacement loaner vehicles or to buy back the defective Bolt EVs.

This is a catastrophe for GM’s EV program.

Taleb says bitcoin effectively worth zero

People also conflate the success of bitcoin as a digital currency with the success of bitcoin as a speculative investment. To be a currency would require it to have some stability and usability, Taleb said.

Source: ‘Black Swan’ author Nassim Taleb says bitcoin is worth zero

Imagine if the price of groceries varied by 10% to 25% each week. That is what would happen if the value of the dollar fluctuated wildly, like bitcoin does.

This is why I do not see bitcoin effective as a currency.

There is great merit to applications of the underlying blockchain algorithms, and there is also usefulness for digital assets – but it is not suitable as a currency, for now.

Predictable: Hunterdon Medical Center Gave COVID-19 Vaccine To Donors, Relatives Of Top Hospital Executives

The shots were administered by Hunterdon Medical Center in December and early January, at a time when only front-line health care workers and residents of long-term care facilities were eligible.

Source: Hunterdon Medical Center Gave COVID-19 Vaccine To Donors, Relatives Of Top Hospital Executives, Report Says – CBS Philly

Health care seems remarkably corrupt. Seems to be one or two of these reports daily now.

More

Continue reading Predictable: Hunterdon Medical Center Gave COVID-19 Vaccine To Donors, Relatives Of Top Hospital Executives

Tally of official cloth mask deniers grows

The list of cloth mask deniers keeps growing:

  • Germany mandates FP2 (N95) masks only.
  • Austria mandates FP2 type masks only
  • The White House mandates N95 masks only
  • France mandates surgical or N95-type masks, urges people to stop using cloth masks
  • Fauci says we should wear “two masks”
  • World Health Organization recommends medical grade masks for all those age 60+ or with underlying conditions.

Source: Some European Countries Move To Require Medical-Grade Masks In Public : Coronavirus Updates : NPR

New variants are the cover for the sudden cloth mask denial. They’ve watched the last 8-10 months and saw cases exploded by 10 to 20x more AFTER mandating cloth masks and recognized that cloth masks did not work. But they cannot admit that.

And

“Such a change in the recommendations concerning a practice with which the entire population had managed to become familiar risks creating misunderstanding and reviving doubts about the validity of the official recommendations,” the National Academy wrote.

A clown show, in other words.

Twitter’s lack of security comes into focus

The extraordinary hacking spree that hit Twitter on Wednesday, leading it to briefly muzzle some of its most widely followed accounts, is drawing questions about the platform’s security and resilience in the run-up to the U.S. presidential election.

Twitter said late Wednesday hackers obtained control of employee credentials to hijack accounts including those of Democratic presidential candidate Joe Biden, former president Barack Obama, reality television star Kim Kardashian, and tech billionaire and Tesla founder Elon Musk.

….

Wednesday’s hack was the worst to date. Several users with two-factor authentication — a security procedure that helps prevent break-in attempts — said they were powerless to stop it.

“If the hackers do have access to the backend of Twitter, or direct database access, there is nothing potentially stopping them from pilfering data in addition to using this tweet-scam as a distraction,” said Michael Borohovski, director of software engineering at security company Synopsys.

In 2010, Twitter reached a settlement with the U.S. Federal Trade Commission after it was found the company had lied about efforts to protect users’ information during an extended hack the year before.

Under the terms of the settlement, Twitter was barred for 20 years from misleading users about how it protects the security and confidentiality of private information.

Source: Twitter hack alarms experts already concerned about platform’s security – National | Globalnews.ca

Many Twitter accounts hacked as part of massive crypto currency fraud

Update: There appears to have been  a massive hack on Twitter involving many hundreds of accounts, if not more.  According to BNO News, this hack impacted accounts of corporations, politicians, celebrities and more as part of a digital currency scam.

As I no longer use Twitter very much, this sort of security breach might cause me to delete my Twitter account.

Tesla CEO Elon Musk’s Twitter account, which is his preferred method of public communication, got hacked today as part of a massive crypto scam. For years now, Musk’s popular Twitter account with more than 30 million followers has been a target of cryptocurrency scammers trying to make money off his followers by creating accounts that […]

Source: Tesla CEO Elon Musk’s Twitter account gets hacked as part of massive crypto scam – Electrek

Recent cryptocurrency investors lost a lot of money

When Bitcoin rapidly rose towards $20k and above last winter, the bubble’ish nature of the market was obvious. Yet cryptocurrency pushers were insisting it would rise as high as $2 million per bitcoin.

A teacher put $90,000 in cryptocurrencies, including a $25,000 loan. Her investments are now down about 90%. A financial analyst invested $100,000 of his savings. His investments are down 70%. The New York Times reports on the bitcoin bust.

Source: After the bitcoin boom: hard lessons for cryptocurrency investors 

Other than reading the original technical paper on using block chains to implement currency, I have not spent much time on cryptocurrencies.

I definitely see the value of block chain technology and I understand how a currency based on block chain can work. But I was confused as to how a particular cryptocurrency would retain value when two hundred new cryptocurrencies were being introduced into the market, flooding the market with digital medallions.

The mania seemed like the Dutch tulip bubble.