October 11, 2026

Capitalizations Index – B ∞/21M

Bitcoin instead of cannabis

Bitcoin instead of cannabis

Bitcoin instead of cannabis

Bitcoin instead of cannabis

Australian police mistaken mining farm with growroom.

The Adelaide police, Australia, mistakenly searched a man’s home for mistaking his bitcoin mining farm for a cannabis greenhouse. While the owner now demands damages, the authorities seem overwhelmed.

Some solar panels, surveillance cameras and fans – the equipment used to make cannabis. At least the police of the Australian Adelaide thought so. Therefore, the authorities promptly carried out a house search. What they found there was a (mini) bitcoin mining farm.

The police apparently searched the apartment in the absence of the alleged hemp farmer, who shared his reaction in a YouTube video. As he announces angrily, the police, when he called after the raid, have reissued directly:

    They searched my house. Then they came in and heard the fan noise from the room. They kicked in the door because they were expecting a marijuana plantation or a harvest. And they thought so: computer. They destroyed my property, demolished the fence, destroyed my home – because of computers. This is the police station Elizabeth.

Finally, he called there to ask for compensation. The authorities, however, showed little helpful:

    When I called, they hung up. Ridiculous. Who pays for my damage now? The guy who should answer this question refuses. Assholes.

You can see the whole video here:

Estimated damage: 0.2 bitcoin

The bitcoin miner told local magazine Adelaide Now that it suffered losses of 1,000 australian dollars (about 0.2 bcd). In addition to the damage to the house, the local police have also stolen a hard drive:

     And to make matters worse, they left the house completely open. In addition, now missing a hard drive and the cable from the surveillance camera is cut.

Opposite the magazine, the Adelaide police defended themselves with an important hint: It was simply not customary to announce raids in advance. So the responsible official said:

For operational reasons, we do not announce house searches. The police, however, always try to minimize the damage in such operations.

image by Shutterstock

Published at Wed, 13 Feb 2019 14:38:16 +0000

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Blockchain & Artificial Intelligence: Money of the Future?

Both artificial intelligence and blockchain technology have made major advances in the past few years. Could they be combined to bring us the money of the future?


Artificial Intelligence

Recently, many advances have been made in the field of artificial intelligence. In the past few years, we saw artificial intelligence beat one of the world’s best players at Go, save drivers from car crashes, and predict the outcome of the US Presidential Election.

Google Home & Amazon Echo

Many companies, both established market leaders and new startups, have started to incorporate artificial intelligence into mainstream products. AI technology can be found in voice and home assistants, such as Siri, Google Home/Assistant, and the Amazon Echo. These companies use artificial intelligence in different ways, including making predictions, voice recognition and image recognition.

AI in Finance

More and more, financial firms are turning to machines to replace humans at jobs that they have done for decades. Many wealth management firms already employ robots and artificial intelligence software to trade and invest for their customers. This is because computers are much quicker than humans at competing in a market where nanoseconds count. A slight delay could mean an entirely different outcome.

bitcoin price

This type of trading activity isn’t just limited to traditional financial markets. Artificial intelligence is also starting to be used in bitcoin and altcoin markets. This is extremely prevalent in altcoin markets wheremany bots and AI trading software are used to take advantage of price fluctuations.

However, this isn’t the only use case for artificial intelligence technology in financial and bitcoin applications.

Mobile Banking for the Unbanked

One new platform called Humaniq aims to bring banking services to those who lack access, especially for people in developing countries.

The platform is built on top of the Ethereum blockchain as a variety of smart contracts; but with a twist. Instead of requiring ID/Passport Verification like most bitcoin exchanges, the aim is to simply verify a user’s identity using artificial intelligence.

Bitcoinist_privacy

Users will be prompted to verify their identity when they start using the Humaniq system. However, only simple tasks need to be completed for this. Identity Verification would only consist of doing something very simple, such as taking a quick picture of themselves, or by reading a short piece of text. Voice and Image Recognition technology powered by artificial intelligence would then be able to quickly confirm their identity without any hassle or delay.

This could potentially be a huge step forward for citizens in developing countries integrating themselves into the global economy. Seeing that it’s currently estimated that there are more than 2.5 billion unbanked in the world, many stand to benefit from such a platform.

[Note: This is a sponsored article provided by Humaniq] 

Could Humaniq’s implementation be a real game-changer? Let us know your thoughts below!


Images courtesy of PC Magazine, Shutterstock

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