[Cryptography] Blockchain currencies: The Death of 1000 Cuts

[Bill Frantz]

[Note to moderators. I think the ship has sailed on the label 
used for these currencies and this list may be the only holdout. 
I have avoided the objectionable term in my writing, but am 
using it in the writing of others that I quote so my quotes will 
be accurate.]

The IRS decision to tax blockchain currency gains, along with 
the following stories from SANS NewsBites Vol. 20 Num. 022 seem 
to indicate a policy of killing them with the death of 1000 cuts.

Cheers - Bill

Ethereum Falls in Wake of SEC ICO Investigations
(March 18 & 19, 2018)
The value of Ethereum cryptocurrency fell below $500 USD over 
the weekend; the cryptocurrency was trading at more than $1,400 
USD in January. The drop occurred after the US Securities and 
Exchange Commission (SEC) made clear that it intends to 
scrutinize initial coin offerings (ICOs). Other cryptocurrencies 
have taken a hit over the past several months as well.

Read more in:
http://arstechnica.com/tech-policy/2018/03/ether-plunges-after-sec-says-dozens-of-ico-investigations-underway/
http://slate.com/technology/2018/03/ethereum-prices-drop-explanation.html

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New York State Municipality Power Companies Can Charge 
Cryptocurrency Miners Higher Rates
(March 16, 2018)
The New York State Public Service Commission (PSC) has ruled 
that power companies in that state may charge cryptocurrency 
mining operations higher rates than other customers. 
Cryptocurrency miners have been attracted to New York because of 
the state's abundance of relatively inexpensive hydroelectric 
power. A group of 36 New York state municipalities petitioned 
the PSC to raise rated for these customers because the demands 
they place on local power grids is causing rate increases for 
local residents. Unlike other industries that may consume larger 
amounts of power, cryptocurrency mining does not bring economic 
development to the municipalities in which it operates.

Read more in:
http://arstechnica.com/tech-policy/2018/03/new-york-power-companies-can-now-charge-bitcoin-miners-more/
http://www.utilitydive.com/news/munis-to-charge-bitcoin-miners-higher-power-prices-in-new-york/519275/
http://www3.dps.ny.gov/pscweb/WebFileRoom.nsf/Web/52BF38680307E75E85258251006476F0/$File/pr18018.pdf

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