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Vircurex becomes insolvent

Digiconomist March 23, 2014 Investing & Trading

More bad news concerning cryptocurrency exchanges: Vircurex has announced it will freeze all current BTC, LTC, FTC and TRC balances. This means they are now effectively insolvent.

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Exposing the Unintended Consequences of Digital Trends. Mastodon: @digiconomist@mastodon.nl Bluesky: @digiconomist.bsky.social

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; Digiconomist @DigiEconomist ·

8h 1733469878424568168

Bitcoiners are trembling in the face of new environmental disclosure requirements in the EU (part of the new Markets in Crypto-Assets regulation or MiCAR) that will confront investors with the insane impact that Bitcoin’s proof-of-useless-work has.

The new regulations will…

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8h 1733469878424568168

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29 Nov 1729908392301322415

Each time someone buys or sells bitcoin, the transaction uses 16,000 litres of clean water - enough to fill a small swimming pool. It is yet another example of the environmental cost of cryptocurrencies.

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7 Dec 1732809395703050677

Bitcoin Mining Used More Water Than New York City Last Year, by WSJ covering my latest research

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; Greenpeace USA @greenpeaceusa ·

7 Dec 1732834847939297359

Read our interview with @DigiEconomist’s Alex de Vries to learn more about what his new research on Bitcoin’s massive water consumption uncovered:

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7 Dec 1732809395703050677

Bitcoin Mining Used More Water Than New York City Last Year, by WSJ covering my latest research https://www.wsj.com/science/environment/bitcoin-water-cryptocurrency-transactions-mining-607f46e9

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