I have addressed the issue and removed my recommendation until there is more information from Novello in a follow up article.
I have also noted it in the original article.
http://www.cryptocoinsnews.com/news/scam-accusations-novello-community-reaction-response/2014/06/11
With all the scams that have gone on and continue to do so I understand the communities concerns as well as yours.
My hope is that not only are they not a scam but also enough info will eventually be given by Novello as they progress in their project to put fears to rest.
Mining needs more companies making miners and competing to keep a healthy market and ecosystem.
Thanks to you all for bringing up your concerns.
Topic: Cryptocoins News may be harming the Bitcoin community with their brand! (Read 1873 times)
June 11, 2014, 07:12:45 AM
June 10, 2014, 10:22:38 PM
I just want to say the thought that I could have caused harm to the community or CryptoCoinsNews because a scam got past me is killing me right now Bruno.
I am writing a reaction/retraction article right now. I have sent an email to Novello asking for more information and proof of identity as well as team info above what I have been given to date.
I also asked if they would allow a trusted community member a look at their technical docs if there is an NDA if they are worried about the competition getting the info before they can bring it to market. That way they can be vouched for or exposed.
If they cannot do any of this then a con has been exposed.
I'm about to read the PM you sent me, but this post alone was enough to at least caused me to reword the thread's title and update the OP reflecting such.
See how easy it is to come across as genuine as you've seem to in just one post?
Thanks, bud.
~Bruno Kucinskas
I am writing a reaction/retraction article right now. I have sent an email to Novello asking for more information and proof of identity as well as team info above what I have been given to date.
I also asked if they would allow a trusted community member a look at their technical docs if there is an NDA if they are worried about the competition getting the info before they can bring it to market. That way they can be vouched for or exposed.
If they cannot do any of this then a con has been exposed.
Phinn,
If they are a scam then I have been scammed.
I've been in touch with Gordon at Novello and the documents and information provided as well.
Aerobatic and others had been given as people who could vouch for them.
If I made a mistake as I said in the PM I am going to follow through with a new article.
Right now I feel like crap. There are so many scams and shady people surrounding Bitcoin and it's industries it is frustrating. As for the 30 secs of searching I am sure it was. I just thought there could be more than one Gordon Grainger over there.
I am going over all the info in the other threads you have posted.
As always you back up your claims and I appreciate it.
CryptoCoinsNews.com is trustworthy and I am just one of many writers there. Please do not bash them as whole for my mistake.
Thanks I will keep you posted and get a follow up article up ASAP.
If they are a scam then I have been scammed.
I've been in touch with Gordon at Novello and the documents and information provided as well.
Aerobatic and others had been given as people who could vouch for them.
If I made a mistake as I said in the PM I am going to follow through with a new article.
Right now I feel like crap. There are so many scams and shady people surrounding Bitcoin and it's industries it is frustrating. As for the 30 secs of searching I am sure it was. I just thought there could be more than one Gordon Grainger over there.
I am going over all the info in the other threads you have posted.
As always you back up your claims and I appreciate it.
CryptoCoinsNews.com is trustworthy and I am just one of many writers there. Please do not bash them as whole for my mistake.
Thanks I will keep you posted and get a follow up article up ASAP.
http://www.cryptocoinsnews.com/news/novello-technologies-begins-funding-ultra-low-cost-bitcoin-mining-rigs/2014/06/04
I spent less than 30 seconds and discovered the following:
http://news.stv.tv/west-central/107195-jail-for-businessman-who-ran-counterfeiting-operation/
Scott Fargo and Cryptocoins News spend 0 seconds looking into who this magical Gordon Grainger is/was, yet goes outta their way to recommend Novello to its readers, of which now could very well have amassed hundreds of thousands of dollars in sales simply because Cryptocoins News was not done their due diligence as a service to its readers, let alone its advertisers, of which I'm pretty sure they'll now distance themselves from said news site.
With millions of dollars at stake, this should be proof enough that Cryptocoins News shouldn't be trusted.
~Bruno Kucinskas
Quote
Novello Technologies Begins Funding For Ultra Low Cost Bitcoin Mining Rigs
Scott Fargo 04/06/2014
Scott Fargo 04/06/2014
Quote
In looking at established and new manufacturers, I had run across Novello’s posts in the BitcoinTalk forum about developing a new low cost, high output performance Bitcoin / SHA-256 miner. I contacted them to find out more about it all. Gordon Grainger promptly got back to me, and I have been in touch with Gordon and Novello ever since, keeping an eye on their progress. The concept behind Novello is simple, and Gordon’s own words embody it better than I could.
Gordon of Novello:
Gordon of Novello:
Quote
Our whole ‘ethos,’ if you will is to try to get mining back in the hands of the amateurs. I’ve done quite a bit of snooping around, and I reckon that at least 85 – 90% of the network power is held by what I would call professional miners, i.e., those with more than 10TH of power. That’s not good for the network, and it’s a powerful deterrent to new miners wanting to participate. I’ve been speaking to one guy in the US who has over $3.5m worth of mining kit from Hashfast and Cointerra, and he seems to enjoy a very cozy relationship with both which in this unusual market makes me very nervous. He’s not alone, and the big players get deals the little guys can’t access which just makes the whole situation worse. He’s had some sparse details about the project, and to my mind has tried very hard to dissuade us from going ahead with it. Wonder why that is?
I spent less than 30 seconds and discovered the following:
http://news.stv.tv/west-central/107195-jail-for-businessman-who-ran-counterfeiting-operation/
Quote
A businessman whose company has been jailed for five years and eight months for running a counterfeiting operation while his business was failing.
The High Court in Glasgow heard that John Farrell, 51, sourced specialist paper and inks and forged hundreds of thousands of pounds of counterfeit money when his IT business got into financial difficulties.
He recruited his son Craig, 23, who used his skills to improve the quality of the fake cash.
The printing enterprise set up in Farrell's IT company in East Kilbride managed to produce counterfeit £10 and £20 Royal Bank of Scotland and Bank of Scotland notes, which experts described as of "extremely good" quality.
Strathclyde Police and Serious Organised Crime Agency officers found numerous sheets of paper with front and rear images of the notes on them. They also found a considerable quantity of Royal Bank of Scotland and Bank of Scotland £10 notes at various stages of completion. The court heard that they were able to print between 15 and 25 £20 notes an hour at the premises.
John Farrell's lawyer said said that his client: "Feels shame and embarrassment at what he has brought on his family. It will adversely affect his his wife and daughter and his sons."
Jailing Farrell, judge Lord Turnbull told him that he had used his intelligence to build up a successful business and an affluent lifestyle. But added: "You then chose to put your business skills to criminal use. It is clear considerable research and application would have be needed to initiate this exercise."
Craig Farrell was jailed for two years and nine months. His brother Paul Farrell, 20, and employee Gordon Grainger, 20, who passed off counterfeit cash as genuine in shops were each ordered to perform 300 hours community service.
The High Court in Glasgow heard that John Farrell, 51, sourced specialist paper and inks and forged hundreds of thousands of pounds of counterfeit money when his IT business got into financial difficulties.
He recruited his son Craig, 23, who used his skills to improve the quality of the fake cash.
The printing enterprise set up in Farrell's IT company in East Kilbride managed to produce counterfeit £10 and £20 Royal Bank of Scotland and Bank of Scotland notes, which experts described as of "extremely good" quality.
Strathclyde Police and Serious Organised Crime Agency officers found numerous sheets of paper with front and rear images of the notes on them. They also found a considerable quantity of Royal Bank of Scotland and Bank of Scotland £10 notes at various stages of completion. The court heard that they were able to print between 15 and 25 £20 notes an hour at the premises.
John Farrell's lawyer said said that his client: "Feels shame and embarrassment at what he has brought on his family. It will adversely affect his his wife and daughter and his sons."
Jailing Farrell, judge Lord Turnbull told him that he had used his intelligence to build up a successful business and an affluent lifestyle. But added: "You then chose to put your business skills to criminal use. It is clear considerable research and application would have be needed to initiate this exercise."
Craig Farrell was jailed for two years and nine months. His brother Paul Farrell, 20, and employee Gordon Grainger, 20, who passed off counterfeit cash as genuine in shops were each ordered to perform 300 hours community service.
Scott Fargo and Cryptocoins News spend 0 seconds looking into who this magical Gordon Grainger is/was, yet goes outta their way to recommend Novello to its readers, of which now could very well have amassed hundreds of thousands of dollars in sales simply because Cryptocoins News was not done their due diligence as a service to its readers, let alone its advertisers, of which I'm pretty sure they'll now distance themselves from said news site.
With millions of dollars at stake, this should be proof enough that Cryptocoins News shouldn't be trusted.
~Bruno Kucinskas
I'm about to read the PM you sent me, but this post alone was enough to at least caused me to reword the thread's title and update the OP reflecting such.
See how easy it is to come across as genuine as you've seem to in just one post?
Thanks, bud.
~Bruno Kucinskas
June 10, 2014, 09:32:08 PM
Phinn,
If they are a scam then I have been scammed.
I've been in touch with Gordon at Novello and the documents and information provided as well.
Aerobatic and others had been given as people who could vouch for them.
If I made a mistake as I said in the PM I am going to follow through with a new article.
Right now I feel like crap. There are so many scams and shady people surrounding Bitcoin and it's industries it is frustrating. As for the 30 secs of searching I am sure it was. I just thought there could be more than one Gordon Grainger over there.
I am going over all the info in the other threads you have posted.
As always you back up your claims and I appreciate it.
CryptoCoinsNews.com is trustworthy and I am just one of many writers there. Please do not bash them as whole for my mistake.
Thanks I will keep you posted and get a follow up article up ASAP.
If they are a scam then I have been scammed.
I've been in touch with Gordon at Novello and the documents and information provided as well.
Aerobatic and others had been given as people who could vouch for them.
If I made a mistake as I said in the PM I am going to follow through with a new article.
Right now I feel like crap. There are so many scams and shady people surrounding Bitcoin and it's industries it is frustrating. As for the 30 secs of searching I am sure it was. I just thought there could be more than one Gordon Grainger over there.
I am going over all the info in the other threads you have posted.
As always you back up your claims and I appreciate it.
CryptoCoinsNews.com is trustworthy and I am just one of many writers there. Please do not bash them as whole for my mistake.
Thanks I will keep you posted and get a follow up article up ASAP.
http://www.cryptocoinsnews.com/news/novello-technologies-begins-funding-ultra-low-cost-bitcoin-mining-rigs/2014/06/04
I spent less than 30 seconds and discovered the following:
http://news.stv.tv/west-central/107195-jail-for-businessman-who-ran-counterfeiting-operation/
Scott Fargo and Cryptocoins News spend 0 seconds looking into who this magical Gordon Grainger is/was, yet goes outta their way to recommend Novello to its readers, of which now could very well have amassed hundreds of thousands of dollars in sales simply because Cryptocoins News was not done their due diligence as a service to its readers, let alone its advertisers, of which I'm pretty sure they'll now distance themselves from said news site.
With millions of dollars at stake, this should be proof enough that Cryptocoins News shouldn't be trusted.
~Bruno Kucinskas
Quote
Novello Technologies Begins Funding For Ultra Low Cost Bitcoin Mining Rigs
Scott Fargo 04/06/2014
Scott Fargo 04/06/2014
Quote
In looking at established and new manufacturers, I had run across Novello’s posts in the BitcoinTalk forum about developing a new low cost, high output performance Bitcoin / SHA-256 miner. I contacted them to find out more about it all. Gordon Grainger promptly got back to me, and I have been in touch with Gordon and Novello ever since, keeping an eye on their progress. The concept behind Novello is simple, and Gordon’s own words embody it better than I could.
Gordon of Novello:
Gordon of Novello:
Quote
Our whole ‘ethos,’ if you will is to try to get mining back in the hands of the amateurs. I’ve done quite a bit of snooping around, and I reckon that at least 85 – 90% of the network power is held by what I would call professional miners, i.e., those with more than 10TH of power. That’s not good for the network, and it’s a powerful deterrent to new miners wanting to participate. I’ve been speaking to one guy in the US who has over $3.5m worth of mining kit from Hashfast and Cointerra, and he seems to enjoy a very cozy relationship with both which in this unusual market makes me very nervous. He’s not alone, and the big players get deals the little guys can’t access which just makes the whole situation worse. He’s had some sparse details about the project, and to my mind has tried very hard to dissuade us from going ahead with it. Wonder why that is?
I spent less than 30 seconds and discovered the following:
http://news.stv.tv/west-central/107195-jail-for-businessman-who-ran-counterfeiting-operation/
Quote
A businessman whose company has been jailed for five years and eight months for running a counterfeiting operation while his business was failing.
The High Court in Glasgow heard that John Farrell, 51, sourced specialist paper and inks and forged hundreds of thousands of pounds of counterfeit money when his IT business got into financial difficulties.
He recruited his son Craig, 23, who used his skills to improve the quality of the fake cash.
The printing enterprise set up in Farrell's IT company in East Kilbride managed to produce counterfeit £10 and £20 Royal Bank of Scotland and Bank of Scotland notes, which experts described as of "extremely good" quality.
Strathclyde Police and Serious Organised Crime Agency officers found numerous sheets of paper with front and rear images of the notes on them. They also found a considerable quantity of Royal Bank of Scotland and Bank of Scotland £10 notes at various stages of completion. The court heard that they were able to print between 15 and 25 £20 notes an hour at the premises.
John Farrell's lawyer said said that his client: "Feels shame and embarrassment at what he has brought on his family. It will adversely affect his his wife and daughter and his sons."
Jailing Farrell, judge Lord Turnbull told him that he had used his intelligence to build up a successful business and an affluent lifestyle. But added: "You then chose to put your business skills to criminal use. It is clear considerable research and application would have be needed to initiate this exercise."
Craig Farrell was jailed for two years and nine months. His brother Paul Farrell, 20, and employee Gordon Grainger, 20, who passed off counterfeit cash as genuine in shops were each ordered to perform 300 hours community service.
The High Court in Glasgow heard that John Farrell, 51, sourced specialist paper and inks and forged hundreds of thousands of pounds of counterfeit money when his IT business got into financial difficulties.
He recruited his son Craig, 23, who used his skills to improve the quality of the fake cash.
The printing enterprise set up in Farrell's IT company in East Kilbride managed to produce counterfeit £10 and £20 Royal Bank of Scotland and Bank of Scotland notes, which experts described as of "extremely good" quality.
Strathclyde Police and Serious Organised Crime Agency officers found numerous sheets of paper with front and rear images of the notes on them. They also found a considerable quantity of Royal Bank of Scotland and Bank of Scotland £10 notes at various stages of completion. The court heard that they were able to print between 15 and 25 £20 notes an hour at the premises.
John Farrell's lawyer said said that his client: "Feels shame and embarrassment at what he has brought on his family. It will adversely affect his his wife and daughter and his sons."
Jailing Farrell, judge Lord Turnbull told him that he had used his intelligence to build up a successful business and an affluent lifestyle. But added: "You then chose to put your business skills to criminal use. It is clear considerable research and application would have be needed to initiate this exercise."
Craig Farrell was jailed for two years and nine months. His brother Paul Farrell, 20, and employee Gordon Grainger, 20, who passed off counterfeit cash as genuine in shops were each ordered to perform 300 hours community service.
Scott Fargo and Cryptocoins News spend 0 seconds looking into who this magical Gordon Grainger is/was, yet goes outta their way to recommend Novello to its readers, of which now could very well have amassed hundreds of thousands of dollars in sales simply because Cryptocoins News was not done their due diligence as a service to its readers, let alone its advertisers, of which I'm pretty sure they'll now distance themselves from said news site.
With millions of dollars at stake, this should be proof enough that Cryptocoins News shouldn't be trusted.
~Bruno Kucinskas
I'm about to read the PM you sent me, but this post alone was enough to at least caused me to reword the thread's title and update the OP reflecting such.
See how easy it is to come across as genuine as you've seem to in just one post?
Thanks, bud.
~Bruno Kucinskas
June 10, 2014, 09:06:01 PM
Step 1: Start a bitcoin mining company
Step 2: Take Pre-orders
Step 3: Never deliver hardware
Step 4:
?
Step 5: Profit
Works everytime, clearly.
Step 2: Take Pre-orders
Step 3: Never deliver hardware
Step 4:
?Step 5: Profit
Works everytime, clearly.
June 10, 2014, 08:41:16 PM
Phinn,
If they are a scam then I have been scammed.
I've been in touch with Gordon at Novello and the documents and information provided as well.
Aerobatic and others had been given as people who could vouch for them.
If I made a mistake as I said in the PM I am going to follow through with a new article.
Right now I feel like crap. There are so many scams and shady people surrounding Bitcoin and it's industries it is frustrating. As for the 30 secs of searching I am sure it was. I just thought there could be more than one Gordon Grainger over there.
I am going over all the info in the other threads you have posted.
As always you back up your claims and I appreciate it.
CryptoCoinsNews.com is trustworthy and I am just one of many writers there. Please do not bash them as whole for my mistake.
Thanks I will keep you posted and get a follow up article up ASAP.
If they are a scam then I have been scammed.
I've been in touch with Gordon at Novello and the documents and information provided as well.
Aerobatic and others had been given as people who could vouch for them.
If I made a mistake as I said in the PM I am going to follow through with a new article.
Right now I feel like crap. There are so many scams and shady people surrounding Bitcoin and it's industries it is frustrating. As for the 30 secs of searching I am sure it was. I just thought there could be more than one Gordon Grainger over there.
I am going over all the info in the other threads you have posted.
As always you back up your claims and I appreciate it.
CryptoCoinsNews.com is trustworthy and I am just one of many writers there. Please do not bash them as whole for my mistake.
Thanks I will keep you posted and get a follow up article up ASAP.
http://www.cryptocoinsnews.com/news/novello-technologies-begins-funding-ultra-low-cost-bitcoin-mining-rigs/2014/06/04
I spent less than 30 seconds and discovered the following:
http://news.stv.tv/west-central/107195-jail-for-businessman-who-ran-counterfeiting-operation/
Scott Fargo and Cryptocoins News spend 0 seconds looking into who this magical Gordon Grainger is/was, yet goes outta their way to recommend Novello to its readers, of which now could very well have amassed hundreds of thousands of dollars in sales simply because Cryptocoins News was not done their due diligence as a service to its readers, let alone its advertisers, of which I'm pretty sure they'll now distance themselves from said news site.
With millions of dollars at stake, this should be proof enough that Cryptocoins News shouldn't be trusted.
~Bruno Kucinskas
Quote
Novello Technologies Begins Funding For Ultra Low Cost Bitcoin Mining Rigs
Scott Fargo 04/06/2014
Scott Fargo 04/06/2014
Quote
In looking at established and new manufacturers, I had run across Novello’s posts in the BitcoinTalk forum about developing a new low cost, high output performance Bitcoin / SHA-256 miner. I contacted them to find out more about it all. Gordon Grainger promptly got back to me, and I have been in touch with Gordon and Novello ever since, keeping an eye on their progress. The concept behind Novello is simple, and Gordon’s own words embody it better than I could.
Gordon of Novello:
Gordon of Novello:
Quote
Our whole ‘ethos,’ if you will is to try to get mining back in the hands of the amateurs. I’ve done quite a bit of snooping around, and I reckon that at least 85 – 90% of the network power is held by what I would call professional miners, i.e., those with more than 10TH of power. That’s not good for the network, and it’s a powerful deterrent to new miners wanting to participate. I’ve been speaking to one guy in the US who has over $3.5m worth of mining kit from Hashfast and Cointerra, and he seems to enjoy a very cozy relationship with both which in this unusual market makes me very nervous. He’s not alone, and the big players get deals the little guys can’t access which just makes the whole situation worse. He’s had some sparse details about the project, and to my mind has tried very hard to dissuade us from going ahead with it. Wonder why that is?
I spent less than 30 seconds and discovered the following:
http://news.stv.tv/west-central/107195-jail-for-businessman-who-ran-counterfeiting-operation/
Quote
A businessman whose company has been jailed for five years and eight months for running a counterfeiting operation while his business was failing.
The High Court in Glasgow heard that John Farrell, 51, sourced specialist paper and inks and forged hundreds of thousands of pounds of counterfeit money when his IT business got into financial difficulties.
He recruited his son Craig, 23, who used his skills to improve the quality of the fake cash.
The printing enterprise set up in Farrell's IT company in East Kilbride managed to produce counterfeit £10 and £20 Royal Bank of Scotland and Bank of Scotland notes, which experts described as of "extremely good" quality.
Strathclyde Police and Serious Organised Crime Agency officers found numerous sheets of paper with front and rear images of the notes on them. They also found a considerable quantity of Royal Bank of Scotland and Bank of Scotland £10 notes at various stages of completion. The court heard that they were able to print between 15 and 25 £20 notes an hour at the premises.
John Farrell's lawyer said said that his client: "Feels shame and embarrassment at what he has brought on his family. It will adversely affect his his wife and daughter and his sons."
Jailing Farrell, judge Lord Turnbull told him that he had used his intelligence to build up a successful business and an affluent lifestyle. But added: "You then chose to put your business skills to criminal use. It is clear considerable research and application would have be needed to initiate this exercise."
Craig Farrell was jailed for two years and nine months. His brother Paul Farrell, 20, and employee Gordon Grainger, 20, who passed off counterfeit cash as genuine in shops were each ordered to perform 300 hours community service.
The High Court in Glasgow heard that John Farrell, 51, sourced specialist paper and inks and forged hundreds of thousands of pounds of counterfeit money when his IT business got into financial difficulties.
He recruited his son Craig, 23, who used his skills to improve the quality of the fake cash.
The printing enterprise set up in Farrell's IT company in East Kilbride managed to produce counterfeit £10 and £20 Royal Bank of Scotland and Bank of Scotland notes, which experts described as of "extremely good" quality.
Strathclyde Police and Serious Organised Crime Agency officers found numerous sheets of paper with front and rear images of the notes on them. They also found a considerable quantity of Royal Bank of Scotland and Bank of Scotland £10 notes at various stages of completion. The court heard that they were able to print between 15 and 25 £20 notes an hour at the premises.
John Farrell's lawyer said said that his client: "Feels shame and embarrassment at what he has brought on his family. It will adversely affect his his wife and daughter and his sons."
Jailing Farrell, judge Lord Turnbull told him that he had used his intelligence to build up a successful business and an affluent lifestyle. But added: "You then chose to put your business skills to criminal use. It is clear considerable research and application would have be needed to initiate this exercise."
Craig Farrell was jailed for two years and nine months. His brother Paul Farrell, 20, and employee Gordon Grainger, 20, who passed off counterfeit cash as genuine in shops were each ordered to perform 300 hours community service.
Scott Fargo and Cryptocoins News spend 0 seconds looking into who this magical Gordon Grainger is/was, yet goes outta their way to recommend Novello to its readers, of which now could very well have amassed hundreds of thousands of dollars in sales simply because Cryptocoins News was not done their due diligence as a service to its readers, let alone its advertisers, of which I'm pretty sure they'll now distance themselves from said news site.
With millions of dollars at stake, this should be proof enough that Cryptocoins News shouldn't be trusted.
~Bruno Kucinskas
June 10, 2014, 08:11:09 PM
Important update: Thanks to ManeBjorn's timely post https://bitcointalksearch.org/topic/m.7242796, I've thought it prudent to reword the title of this thread.
http://www.cryptocoinsnews.com/news/novello-technologies-begins-funding-ultra-low-cost-bitcoin-mining-rigs/2014/06/04
I spent less than 30 seconds and discovered the following:
http://news.stv.tv/west-central/107195-jail-for-businessman-who-ran-counterfeiting-operation/
Scott Fargo and Cryptocoins News spend 0 seconds looking into who this magical Gordon Grainger is/was, yet goes outta their way to recommend Novello to its readers, of which now could very well have amassed hundreds of thousands of dollars in sales simply because Cryptocoins News was not done their due diligence as a service to its readers, let alone its advertisers, of which I'm pretty sure they'll now distance themselves from said news site.
With millions of dollars at stake, this should be proof enough that Cryptocoins News shouldn't be trusted.
~Bruno Kucinskas
http://www.cryptocoinsnews.com/news/novello-technologies-begins-funding-ultra-low-cost-bitcoin-mining-rigs/2014/06/04
Quote
Novello Technologies Begins Funding For Ultra Low Cost Bitcoin Mining Rigs
Scott Fargo 04/06/2014
Scott Fargo 04/06/2014
Quote
In looking at established and new manufacturers, I had run across Novello’s posts in the BitcoinTalk forum about developing a new low cost, high output performance Bitcoin / SHA-256 miner. I contacted them to find out more about it all. Gordon Grainger promptly got back to me, and I have been in touch with Gordon and Novello ever since, keeping an eye on their progress. The concept behind Novello is simple, and Gordon’s own words embody it better than I could.
Gordon of Novello:
Gordon of Novello:
Quote
Our whole ‘ethos,’ if you will is to try to get mining back in the hands of the amateurs. I’ve done quite a bit of snooping around, and I reckon that at least 85 – 90% of the network power is held by what I would call professional miners, i.e., those with more than 10TH of power. That’s not good for the network, and it’s a powerful deterrent to new miners wanting to participate. I’ve been speaking to one guy in the US who has over $3.5m worth of mining kit from Hashfast and Cointerra, and he seems to enjoy a very cozy relationship with both which in this unusual market makes me very nervous. He’s not alone, and the big players get deals the little guys can’t access which just makes the whole situation worse. He’s had some sparse details about the project, and to my mind has tried very hard to dissuade us from going ahead with it. Wonder why that is?
I spent less than 30 seconds and discovered the following:
http://news.stv.tv/west-central/107195-jail-for-businessman-who-ran-counterfeiting-operation/
Quote
A businessman whose company has been jailed for five years and eight months for running a counterfeiting operation while his business was failing.
The High Court in Glasgow heard that John Farrell, 51, sourced specialist paper and inks and forged hundreds of thousands of pounds of counterfeit money when his IT business got into financial difficulties.
He recruited his son Craig, 23, who used his skills to improve the quality of the fake cash.
The printing enterprise set up in Farrell's IT company in East Kilbride managed to produce counterfeit £10 and £20 Royal Bank of Scotland and Bank of Scotland notes, which experts described as of "extremely good" quality.
Strathclyde Police and Serious Organised Crime Agency officers found numerous sheets of paper with front and rear images of the notes on them. They also found a considerable quantity of Royal Bank of Scotland and Bank of Scotland £10 notes at various stages of completion. The court heard that they were able to print between 15 and 25 £20 notes an hour at the premises.
John Farrell's lawyer said said that his client: "Feels shame and embarrassment at what he has brought on his family. It will adversely affect his his wife and daughter and his sons."
Jailing Farrell, judge Lord Turnbull told him that he had used his intelligence to build up a successful business and an affluent lifestyle. But added: "You then chose to put your business skills to criminal use. It is clear considerable research and application would have be needed to initiate this exercise."
Craig Farrell was jailed for two years and nine months. His brother Paul Farrell, 20, and employee Gordon Grainger, 20, who passed off counterfeit cash as genuine in shops were each ordered to perform 300 hours community service.
The High Court in Glasgow heard that John Farrell, 51, sourced specialist paper and inks and forged hundreds of thousands of pounds of counterfeit money when his IT business got into financial difficulties.
He recruited his son Craig, 23, who used his skills to improve the quality of the fake cash.
The printing enterprise set up in Farrell's IT company in East Kilbride managed to produce counterfeit £10 and £20 Royal Bank of Scotland and Bank of Scotland notes, which experts described as of "extremely good" quality.
Strathclyde Police and Serious Organised Crime Agency officers found numerous sheets of paper with front and rear images of the notes on them. They also found a considerable quantity of Royal Bank of Scotland and Bank of Scotland £10 notes at various stages of completion. The court heard that they were able to print between 15 and 25 £20 notes an hour at the premises.
John Farrell's lawyer said said that his client: "Feels shame and embarrassment at what he has brought on his family. It will adversely affect his his wife and daughter and his sons."
Jailing Farrell, judge Lord Turnbull told him that he had used his intelligence to build up a successful business and an affluent lifestyle. But added: "You then chose to put your business skills to criminal use. It is clear considerable research and application would have be needed to initiate this exercise."
Craig Farrell was jailed for two years and nine months. His brother Paul Farrell, 20, and employee Gordon Grainger, 20, who passed off counterfeit cash as genuine in shops were each ordered to perform 300 hours community service.
Scott Fargo and Cryptocoins News spend 0 seconds looking into who this magical Gordon Grainger is/was, yet goes outta their way to recommend Novello to its readers, of which now could very well have amassed hundreds of thousands of dollars in sales simply because Cryptocoins News was not done their due diligence as a service to its readers, let alone its advertisers, of which I'm pretty sure they'll now distance themselves from said news site.
With millions of dollars at stake, this should be proof enough that Cryptocoins News shouldn't be trusted.
~Bruno Kucinskas
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