This story follows Gabriel Gutierrez's travels through Siberia, learning a new language, adjusting to a different way of life, and diving head first into a brand new type of money.
During Gutierrez's travels, he tapped into the culture, literature and business minds of the country. He was also introduced to bitcoin mining.
With a new found love for the crypto, and an opprtounity to on his hands to turn cheap electricity into bitcoin, Gutierrez turned an old forgotten factory into a bitcoin mining operation.
Learn more about Gutierrez's Russian mining adventures here!
466 million Tether still reportedly sit in the Tether Treasury account for future need. Tether is supposedly transferred to the "Treasury as 'redemption,' a process that Tether described in its original white paper" as reported by CoinDesk.
Every USDT is supposedly backed by 1 USD, and therefore redeemable for that amount.
During a 51% attack, "a miner takes over more than half of a cryptocurrency's mining power, which then allows them to erase a past transaction and replace it with another transaction – called a double spend" explained CoinDesk.
Attacking coins with smaller market caps are apparently happening more frequently.
The freshman goes by the name Geocold51. CoinDesk reports that "[f]or him, it's about displaying that many coins are vulnerable and, therefore, perhaps vastly over-valued".
The FSC warns that crypto funds are not properly approved, and therefore constitute a breach of South Korea's Capital Markets Act.
"The Financial Services Commission further revealed its plans to hold consultations with relevant regulators in order to take action against crypto funds in a move to protect investors from risks of potential financial losses" explained CoinTelegraph.
The U.S. judge for the case stated that the Alibabacoin Foundation cannot include Alibaba in its name or brand in the U.S., "or at least until Alibaba's larger court action claiming trademark infringement is decided", based on a report by the Wall Street Journal.
