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Tag: Iceland

Iceland Building New Industry After Bitcoin Mining Unlocks Technological Talent

Category: Altcoins, Bitcoin, Business, Development, Mining, News, Tech

Iceland Building New Industry After Bitcoin Mining Unlocks Technological Talent

After several reports and criticism of Bitcoin mining using electricity equivalent to all of Iceland’s households, the sector looks primed to create economic development and industry in the region. Bitcoin Miners Parlay a New Industry On July 4, 2018, Bloomberg reported Iceland is embracing Bitcoin mining farms and computing setups, contrary to previous resistance towards the industry. Iceland does not…

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Bitcoin Volatility Threatens Iceland’s Economy

Category: Blockchain, Business, Mining, News, Regulation, Tech

Bitcoin Volatility Threatens Iceland’s Economy

Despite being a remote volcanic island, the economic implications of the cryptocurrency mining sector are proving vulnerable for Iceland. Iceland’ Cryptocurrency Mining Industry The countries’ reliance on cryptocurrency mining is now something that “cannot be excluded as a risk factor,” says finance minister Bjarni Benediktsson, who has expressed concern that if the cryptocurrency boom was to end, then Iceland’s economy could…

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The “Big Bitcoin Heist” On Ice

Category: Bitcoin, Mining, News, Tech

The “Big Bitcoin Heist” On Ice

In what has been coined the “big bitcoin heist,” 600 computers used for bitcoin mining have been stolen from data centers across Iceland. Authorities in that sparsely populated island nation on the Arctic Circle say that it’s the largest series of robberies ever to hit Iceland. Police there believe that these thefts are tied to organized crime. Says police chief…

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Iceland’s First Bitcoin ATM Launched in the Capital Reykjavík

Category: Altcoins, Bitcoin, Finance, News

Iceland’s First Bitcoin ATM Launched in the Capital Reykjavík

The Nordic island country, Iceland, got its first bitcoin ATM located inside a hotel in Hlemmur square, Reykjavik. The person behind introducing the crypto ATM is Bitcoin entrepreneur Jason Scott. The machine also supports multiple cryptocurrencies like bitcoin cash, ether, dash, litecoin, and zcash. The ATM is installed at the Hlemmur Square hotel, owned by German hotelier Klaus Ortlieb. According…

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How Bitcoin and the Pirate Party Could Save Iceland

Category: Bitcoin, News, Regulation

How Bitcoin and the Pirate Party Could Save Iceland

While the big Election Day in the United States is not too far away, Iceland’s voters will go to the polls over the weekend on October 29. A newcomer in the race, known as the Pirate Party, has the possibility to upset traditional politics through its stances on copyright law, direct democracy, and by nullifying the Icelandic Foreign Exchange Act,…

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