Gavin Andresen’s ‘Fractional-Reserve Mining’: Cloud Miners Respond

By August 22, 2014Bitcoin Business



G+PinterestLast Thursday, Kyle Torpey at CryptoCoinsNews reported on a quote from Bitcoin developer Gavin Andresen that went largely unnoticed.In response to a Reddit post asking whether cloud mining contracts make sense, Andresen wrote the following: “No, they make no sense. I suspect many of them will turn out to be Ponzi schemes.”Then on Monday, six days later, Andresen posted the following on a forum post about GAWMiners:“I don’t know nuthin about ‘cloud mining’ […]

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