How The Tiny Nation Of Georgia Became A Bitcoin Behemoth

How The Tiny Nation Of Georgia Became A Bitcoin Behemoth

Cryptocurrency mining is the digital equivalent of minting real money, except that anyone with the right hardware and software can do it, by taking part in what amounts to a giant virtual competition. Think of it like a lottery, where computers linked across the Internet compete to solve complex mathematical puzzles, with the number of players constantly rising. The owner of the computer that finds the right solution is rewarded with a “block” of bitcoin or other cryptocurrency, which is then registered and verified on a decentralized database system known as the blockchain.

In practice, it involves a kind of constant digital bombardment to find these solutions, 24 hours a day, consuming huge amounts of electricity. And thanks to its cheap hydropower and low regulation, Georgia is now ranked second in the world for cryptocurrency mining — behind only China.

Russia’s election interference should alarm every American: What you need to know — Quartz

With anti-establishment politics shaking governments across the west, US and European intelligence chiefs are newly raising the alarm about Russian cyber attacks and information warfare, saying they pose a threat to their democracies. In the US, the warnings have been met with a mix of outrage and outright dubiousness. While a bipartisan group of senators…

via Russia’s election interference should alarm every American: What you need to know — Quartz

George Will Wonders if Trump’s Missing Tax Returns Are Connected to Russia…

Getty Image After the DNC email leak that led to Debbie Wasserman Schultz’s resignation, speculation has run rampant about how involved Donald Trump is with Russia, which the FBI is reportedly investigating in the leak. This is just another potential scandal in Trump’s notorious campaign, and includes his refusal to release his tax returns, which…

via George Will Wonders If Trump’s Missing Tax Returns Are Connected To Russia — Real Stories – UPROXX

Gov. Chris Christie Being Vetted as Potential Vice-Presidential Pick for Trump Poses Grave Dangers to State-Authorized Medical & Regulated Marijuana.

Voters in four states and Washington, D.C. have approved measures legalizing marijuana for individuals over 21, and four states — Alaska, Colorado, Oregon, and Washington — approved taking marijuana production and sales off the criminal market and regulating and taxing them. Additionally, 25 States have now legalized marijuana for medical use within those States.

New Jersey Gov. Chris Christie is now being vetted as a possible vice presidential pick for presumptive Republican nominee Donald Trump, according to two ranking Republican officials as reported earlier today by Yahoo News and The Guardian.   Additionally, many in the Beltway contend that Gov. Christie would be on the short list for appointment of US Attorney General in a potential Trump Presidential Administration.

During the Republican Presidential Debates, Gov. Chris Christie unequivocally and unambiguously stated that he would use the Federal governments authority via the USDOJ or otherwise to shut down all licensed and/or regulated use of marijuana in any State regardless of lawful medicinal or other legal use within such a State — i.e., Christie vowed not to follow the current DOJ policy concerning marijuana as most recently has been set forth in its 2013 Memo.

Protecting the Principle of Federalism in Marijuana Policies: Rep. Dana Rohrabacher (R-CA) reintroduced H.R. 1940, the Respect State Marijuana Laws Act with strong bipartisan support. This legislation would modify the federal Controlled Substances Act to protect anyone acting in compliance with state marijuana laws from federal prosecution and resolve the conflict between state and federal marijuana laws, ensuring states can determine their own policies. Others have introduced similar legislation.

It remains imperative that all US States who have already authorized and/or decriminalized marijuana be vigilant in monitoring Federal officials and those who aspire to be.  Similarly, States such as California which are now contemplating legal marijuana on the ballot this year, should be fully aware of Federal policy and particularly those who will be in a position to apply it.

Accordingly, should Trump select Christie as his VP (potentially becoming only a heartbeat away from the Presidency), or alternatively, appoint him as his AG in any Trump administration should Trump become POTUS, the result for State regulated, authorized, and legal marijuana could be disastrous specifically to State-authorized marijauna and generally to concepts of federalism as to other fundamental State’s rights.
En garde.

Comedy Central? The Onion? (Nope: The Desperate GOP Establishment…)

Republican presidential contender Ted Cruz has tapped former technology executive Carly Fiorina to serve as his running mate. The Texas senator plans to unveil his pick for vice president Wednesday afternoon in Indianapolis. That’s according to a Republican with direct knowledge of Fiorina’s selection, who spoke on condition of anonymity because the person was not…

via Ted Cruz Has Picked Carly Fiorina as His Running Mate — Fortune

Are the Feds Going to Regulate Daily Fantasy Sports on a Nationwide Basis…?

“States have traditionally handled regulation of gambling, supported by federal law in situations where an interstate of foreign element might otherwise frustrate the enforcement of state law,” posited the CRS report. “With respect to federal law, DFS may implicate at least four gambling-related statutes.”

See, espn Chalk Talk report by Ryan Rodenberg

Is the Lytle Gaming Scandal an indictment of the Wild Wild West approach to Cardrooms?

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A detailed OpEd penned by long-time gaming industry observer and veteran journalist Dave Palermo underscores California’s politically bifurcated system of regulating approximately 80 card rooms and of providing oversight for 59 tribal casinos and points out that such a system is highly dysfunctional, incapable of regulating what gambling is already legal in the state, let alone Internet poker. [Read more here:

That being said, Palermo’s piece additionally points out that Federal law gives tribal governments primacy to regulate their casinos, including those in California which many gaming experts have called the “best regulated casinos on the planet.” For example, the San Manuel Band of Mission Indians in San Bernardino County has more regulators than the California Bureau, which has some 150 employees and a $28 million budget.

But at the same time, and given the bifurcated nature of gaming control and enforcement in California, Card rooms — which have evolved from poker-only to high-stakes versions of blackjack, pai gow and baccarat requiring the use of banking firms, are another matter entirely. Some gaming industry experts contend that California’s card clubs lack internal operating controls as well as adequate surveillance.

“It’s the wild, wild west,” said independent card-cheating consultant George Joseph said.

“Internal controls are nil,” agrees Vic Taucer, an independent table games consultant.

In commenting upon the 4-member Gambling Control Commission appointed by California Governor Jerry Brown (which Mr. Palermo notes is largely inexperienced in gambling matters and struggles in particular with regulating card rooms), Commissioner Richard Schuetz  said that it was the “worse regulated segment” of the nation’s gambling industry.

While lack of resources are always an issue for cash-strapped governments, the bureaucratic culture and separation of gambling controls into separate dysfunctional State agencies exacerbates the disconnection between regulatory bodies which do not routinely or systemically communicate or coordinate with each other.

But is that more an indictment of the divergent approach to CA gaming regulation and enforcement activity for different gaming industries?  Or does it really mean only certain gaming market sectors are more prone to issues than others?

And what impact might this all have on California’s efforts to regulate online poker?  [See, e.g., Dave Palermo’s Blog at —
Additionally, the investigation by AG Kamala Harris  in the Lytle matter raises further questions about who may opine and rule upon the allegations made by the AG in her administrative complaint:  namely, is the fox watchting the hen house?

On that score, Palermo has augmented his investigative reporting to point out in another blog piece that the California gambling regulatory officials who will rule on the licensing of a former casino enforcement chief accused of jeopardizing a $119 million card room skimming investigation may themselves be faced with conflicts of interests, industry legal experts said.

Both Richard Lopes, chairman of the California Gambling Control Commission, and Tina Littleton, the commission’s executive director, have personal and professional relationships with persons connected to a licensing investigation by Attorney General Kamala Harris.  [See, Palermo Blog at —–+Victor+Rocha%26%2338%3B%2339%3Bs+Daily+News+Digest%5D

This story sounds more like one authored by John Grisham about the fictional law firm of Lytle, Lopes & Littleton as the details about the alleged conflicts of interest raised by AG Kamala Harris unfold.
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Stay tuned…!