Regulation, speculation, fraud, and cultural fashions all play a role in making new currencies risky; reader mbkennel yesterday asked an insightful question: "Are you up to loaning bitcoin or something less popular for 10 years?" Confidence in any given currency can be tested with the terms current holders are willing to accept to make loans payable in that same currency. (On the other hand, if large companies will accept it in payment, they've probably got an idea that a given currency will be around next month or next year.) If you've bought any form of crypto currency, what's been your experience, and what do you expect in 10 years? (Alternate Video Link)
Blasko has some advice for anyone who'd like to try minting a new cryptocurrency. Making your own coin, he says, is the easy part: anyone can clone code from an existing entrant, like Bitcoin, and rename the result — and that's exactly what he did. The hard work is what comes after: making worthwhile changes, building trust, and making it tradeable. Blasko's done the legwork to get his own currency, which he's bravely called "Unbreakable Coin," listed on exchanges like Cryptsy, and is working on his own auction site as well. He's also got an interesting idea for cryptocoin trading cards, and had a few prototypes on hand. (Part 1 is below; Part 2 to follow.) Alternate Video Link
Eric Holder, the U.S. Attorney General, has changed the rules of that program, making it more difficult for the police to do it under the federal program. They can still use local state programs, but that accounts for only about 57% of the cash taken. Holder did not end the program entirely — he left in some exceptions for things like explosives, weapons, and items related to child pornography, which all together amount to about 1% of the current federal program. Still, with this action he will have struck a serious blow to a despicable practice that serious newspapers and comedy TV shows decried as nothing more than legalized theft.
Timothy noticed these people at CES. They were one of the least flashy and least "consumer-y" exhibitors. But saving electricity by using it efficiently, while not glamorous, is at least as important as a $6000 Android phone. Note that the guy e-Radio had at CES speaking to Timothy was Scott Cuthbertson, their Chief Financial Officer. It's a technology-driven company, from Founder and CEO Jackson Wang on down, but in the end, saving money is what they sell. (Alternate Video Link)
Whatever the cause, the timing is obviously terrible: Plenty of people surely received one of the two consoles as Christmas presents today, while many more gamers would have happily spent the afternoon in front of the TV. In the meantime, both Sony and Microsoft have acknowledged the problem, with Sony issuing a tweet and Microsoft posting a message on its support website: "We're working to address this as quickly as we possibly can," reads its status website. "Thanks for your patience, Xbox members." In an email, a Microsoft spokesperson declined to comment further or say when the company expects to restore service. We've also asked Sony to comment and will update this post if and when it does. The Xbox Live status page says service remains "limited," and the Playstation Network is listed as offline.