In March an executive order directed America's treasury secretary to create two stockpiles of crypto assets (to accompany already-existing "strategic reserves" of gold and foreign currencies). And the Washington Post notes these new stockpiles would include "cryptocurrency seized by federal agencies in criminal or civil proceedings." But how big would America's "Strategic Bitcoin Reserve" be — and what other cryptocurrencies would the U.S. government hold in its "Digital Asset Stockpile"?

"New data on what crypto cash the U.S. government has seized may now provide some answers.

It suggests the crypto reserves will together hold more than $21 billion in cryptocurrency... The stockpile will be funded with whatever crypto assets the Treasury holds other than bitcoin, leaving the stockpile's composition to be largely determined by a mixture of chance and criminal conduct. That unconventional method for selecting government financial holdings had the benefit of making the reserves cost-neutral for the taxpayer.

It also provided a way to estimate what exactly might go into the two pools before results are released from an official accounting of U.S. crypto holdings that is underway.Because government seizures are disclosed in court documents, news releases and other sources, crypto-tracking firms can use those notices to monitor which digital assets the U.S. government holds. Chainalysis, a blockchain analytics firm, reviewed cryptocurrency wallets that appear to be associated with the U.S. government for The Washington Post. The company estimated how much bitcoin it holds, and the other crypto tokens in its top 20 digital holdings as of May 13, by tracking transactions involving those wallets.

The United States' top 20 crypto holdings according to Chainalysis are worth about $20.9 billion as of 3 p.m. Eastern on May 28, with $20.4 billion in bitcoin and about $493 million in other digital assets. It has been scooped up from crimes such as stolen funds, scams and sales on dark net markets. Those estimates put the U.S. government's top crypto holdings at less than the approximately $25 billion worth of oil held in the U.S. Strategic Petroleum Reserve. Their value is nearly double the Fed's listing for U.S. gold holdings, although that figure uses outdated pricing and would be over $850 billion at current prices...

The crypto tokens headed for the U.S. Digital Asset Stockpile according to the Chainalysis list include ethereum, the world's second-largest digital asset, and a string of other crypto tokens with punier name recognition. They include derivatives of bitcoin and ethereum that mirror those cryptocurrencies' prices, several stable coins designed to be pegged in value to the U.S. dollar, and 10 tokens tied to specific companies, including the cryptocurrency exchanges FTX, which imploded in 2022 after defrauding customers, and Binance.

Two U.S. states have already passed legislation creating their own cryptocurrency reserve funds, the article points out. But ethereum co-founder Vitalik Buterin complained to the Post in March that crypto's "original spirit...is about counterbalancing power" — including government and corporate power, and getting too close to "one particular government team" could conflict with its mission of decentralization and openness. And he's not the only one concerned:

Austin Campbell, a professor at New York University's business school and a principal at crypto advisory firm Zero Knowledge, sees hypocrisy in crypto enthusiasts cheering the government's strategic reserves. The bitcoin community in particular "has historically been about freedom from sovereign interference," he said.

Abstract credit: https://slashdot.org/story/442693

publication croisée depuis : https://lemmy.bestiver.se/post/410366

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A German nuclear fusion startup called Proxima Fusion has unveiled its "Stellaris" fusion power plant designed to operate reliably and continuously without the instabilities of tokamaks. It's backed by $65 million in funding, with plans to build a fully operational fusion reactor by 2031. TechCrunch reports:

Tokamaks and stellarators are types of fusion reactors that use electromagnets to contain fusion plasma. Tokamaks rely on external magnets and an induced plasma current but are known for instability. Stellarators, by contrast, use only external magnets, which, in theory, enable better stability and continuous operation. However, according to Dr. Francesco Sciortino, co-founder and CEO of Proxima Fusion, Proxima's "Stellaris" design is the first peer-reviewed fusion power plant concept that demonstrates it can operate reliably and continuously, without the instabilities and disruptions seen in tokamaks and other approaches.

Proxima published its findings in Fusion Engineering and Design, choosing to share this information publicly to support open-source science. "Our American friends can see it. Our Chinese friends can see it. Our claim is that we can execute on this faster than anyone else, and we do that by creating a framework for integrated physics, engineering, and economics. So we're not a science project anymore," Sciortino told TechCrunch over a call. "We started out as a group of founders saying it's going to take us two years to get to the Stellaris design ... We actually finished after one year. So we've accelerated by a year," he added.

Abstract credit: https://slashdot.org/story/439243

French journal Le Monde is sharing its articles via RSS feeds (and longer via Tweeter).

Check it out (french content): https://www.lemonde.fr/actualite-medias/article/2019/08/12/les-flux-rss-du-monde-fr_5498778_3236.html

The US Department of Justice (DOJ) has been authorized to sell approximately 69,370 Bitcoin seized in connection with the Silk Road darknet marketplace, a haul currently valued at around $6.5 billion, DB News reported Wednesday. The decision is set to end a years-long legal dispute over the BTC stash's ownership. On December 30, a federal judge ruled in favor of the DOJ's request to liquidate the crypto assets, the report said. Battle Born Investments, which had asserted a claim to the Bitcoin stash through a bankruptcy estate, ultimately failed in its bid to delay the sale.

As noted, the group had pursued a Freedom of Information Act (FOIA) request seeking the identity of "Individual X," who initially surrendered Bitcoin, but the effort also proved unsuccessful. Battle Born's legal counsel criticized the DOJ's handling of the case, alleging the department employed "procedural trickery" in its use of civil asset forfeiture to avoid scrutiny. The DOJ, in its arguments before the court, cited Bitcoin's price volatility as motivation for seeking a quick sale of the seized assets. A DOJ spokesperson, when contacted, stated, "The Government will proceed further consistent with the judgment in this case."

The update comes after the US Supreme Court refused to hear an appeal challenging the seizure of the Bitcoin stash, which was brought by Battle Born last October. The decision likely paved the way for the US government to sell Bitcoin, which was valued at $4.4 billion at the time. The US Marshals Service is expected to manage the liquidation process, which, if confirmed, will be one of the largest sales of seized crypto in history.

Abstract credit: https://slashdot.org/story/437425

cross-posted from: https://lemmy.world/post/23454650

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France’s Flamanville 3 nuclear reactor, its most powerful at 1,600 MW, was connected to the grid on December 21 after 17 years of construction plagued by delays and budget overruns.

The European Pressurized Reactor (EPR), designed to boost nuclear energy post-Chernobyl, is 12 years behind schedule and cost €13.2 billion, quadruple initial estimates.

President Macron hailed the launch as a key step for low-carbon energy and energy security.

Nuclear power, which supplies 60% of France’s electricity, is central to Macron’s plan for a “nuclear renaissance.”

The world's first nuclear-powered battery — a diamond with an embedded radioactive isotope — could power small devices for thousands of years, according to scientists at the UK's University of Bristol.

The diamond battery harvests fast-moving electrons excited by radiation, similar to how solar power uses photovoltaic cells to convert photons into electricity, the scientists said.

Scientists from the same university first demonstrated a prototype diamond battery — which used nickel-63 as the radioactive source — in 2017. In the new project, the team developed a battery made of carbon-14 radioactive isotopes embedded in manufactured diamonds. The researchers chose carbon-14 as the source material because it emits short-range radiation, which is quickly absorbed by any solid material — meaning there are no concerns about harm from the radiation. Although carbon-14 would be dangerous to ingest or touch with bare hands, the diamond that holds it prevents any short-range radiation from escaping. "Diamond is the hardest substance known to man; there is literally nothing we could use that could offer more protection," Neil Fox, a professor of materials for energy at the University of Bristol, said in the statement...

A single nuclear-diamond battery containing 0.04 ounce (1 gram) of carbon-14 could deliver 15 joules of electricity per day. For comparison, a standard alkaline AA battery, which weighs about 0.7 ounces (20 grams), has an energy-storage rating of 700 joules per gram. It delivers more power than the nuclear-diamond battery would in the short term, but it would be exhausted within 24 hours. By contrast, the half-life of carbon-14 is 5,730 years, which means the battery would take that long to be depleted to 50% power....

[A] spacecraft powered by a carbon-14 diamond battery would reach Alpha Centauri — our nearest stellar neighbor, which is about 4.4 light-years from Earth — long before its power were significantly depleted.

The battery has no moving parts, according to the article. It "requires no maintenance, nor does it have any carbon emissions."

Abstract credit: https://slashdot.org/story/436735/outstanding

Legislation was introduced in the Texas House of Representatives on Thursday to establish a strategic bitcoin reserve, which could serve as a proving ground for the U.S. Treasury. The proposed bill would enable the state to start building a strategic bitcoin reserve by accepting taxes, fees and donations in bitcoin that would be held for a minimum of five years, Republican state Rep. Giovanni Capriglione announced on an X Spaces event Thursday.

The Texas bill aims to provide a way to strengthen the state's fiscal stability and establish it as a leader in bitcoin innovation, according to the Satoshi Action Fund, a nonprofit bitcoin advocacy group that worked with Capriglione on the bill. "Probably the biggest enemy of our investments is inflation," Capriglione said. "A strategic bitcoin reserve, investing in bitcoin, would be a win-win for the state." "I just filed the bill ... entitled 'An act relating to the establishment of a bitcoin reserve within the state treasury of Texas and the management of cryptocurrencies by governmental entities,'" he said later.

"My goal is to make this bill as big and as broad as possible," Capriglione said. "This initial step is to allow some optionality and flexibility on it, but if I am able to get support from other legislators, we will make it even stronger."

It's "unlikely" a U.S. strategic bitcoin reserve will be established, "but it helps get animal spirits back into the market," Needham's John Todaro told CNBC. He said it's also "unlikely to drive material price gains, as we do not expect the U.S. government will purchase bitcoin in any meaningful capacity, but it's an item that drives excitement and optimism."

Abstract credit: https://slashdot.org/story/436405

The cost of cleaning up the U.K.'s largest nuclear site, "is expected to spiral to £136 billion" (about $176 billion), according to the Guardian, creating tension with the country's public-spending watchdog.

Projects to fix the state-owned buildings with hazardous and radioactive material "are running years late and over budget," the Guardian notes, with the National Audit Office suggesting spending at the Sellafield site has risen to more than £2.7 billion a year ($3.49 billion).

Europe's most hazardous industrial site has previously been described by a former UK secretary of state as a "bottomless pit of hell, money and despair". The Guardian's Nuclear Leaks investigation in late 2023 revealed a string of cybersecurity problems at the site, as well as issues with its safety and workplace culture. The National Audit Office found that Sellafield was making slower-than-hoped progress on making the site safe and that three of its most hazardous storage sites pose an "intolerable risk".

The site is a sprawling collection of buildings, many never designed to hold nuclear waste long-term, now in various states of disrepair. It stores and treats decades of nuclear waste from atomic power generation and weapons programmes, has taken waste from countries including Italy and Sweden, and is the world's largest store of plutonium.

Sellafield is forecast to cost £136bn to decommission, which is £21.4bn or 18.8% higher than was forecast in 2019. Its buildings are expected to be finally torn down by 2125 and its nuclear waste buried deep underground at an undecided English location. The underground project's completion date has been delayed from 2040 to the 2050s at the earliest, meaning Sellafield will need to build more stores and manage waste for longer. Each decade of delay costs Sellafield between £500m and £760m, the National Audit Office said.

Meanwhile, the government hopes to ramp up nuclear power generation, which will create more waste.

"Plans to clean up three of its worst ponds — which contain hazardous nuclear sludge that must be painstakingly removed — are running six to 13 years later than forecast when the National Audit Office last drew up a report, in 2018... "

"One pond, the Magnox swarf storage silo, is leaking 2,100 litres of contaminated water each day, the NAO found. The pond was due to be emptied by 2046 but this has slipped to 2059."

"The world's largest renewable energy and transmission project has received key approval from government officials," reports New Atlas.

Solar power from Australia will be carried 2,672 miles (4,300 kilometers) to Singapore over undersea cables in what's being called "the Australia-Asia Power Link project." Reuters reports that SunCable "aims to produce 6 gigawatts of electricity at a vast solar farm in Northern Australia and ship about a third of that to Singapore via undersea cable."

More from New Atlas:

[The project] will start by constructing a mammoth solar farm in Australia's Northern Territory to transmit around-the-clock clean power to [the Australian city] Darwin, and also export "reliable, cost-competitive renewable energy" to Singapore... with a clean energy generation capacity of up to 10 gigawatts, plus utility scale onsite storage. [The recently-obtained environmental approval] also green lights an 800-km (~500-mile) overhead transmission line between the solar precinct and Murrumujuk near Darwin...

If all of the dominoes line up perfectly, supply of the first clean electricity is estimated to start in the early 2030s. An overview graphic on the project page shows that the eventual end game for the Powell Creek development appears to be the generation of up to 20 GW of peak solar power and have some 36-42 GWh of battery storage on site.

Abstract credit: https://m.slashdot.org/story/434727

The FBI created a cryptocurrency as part of an investigation into price manipulation in crypto markets, the government revealed on Wednesday. From a report:

The FBI's Ethereum-based token, NexFundAI, was created with the help of "cooperating witnesses." As a result of the investigation, the Securities and Exchange Commission charged three "market makers" and nine people for allegedly engaging in schemes to boost the prices of certain crypto assets. The Department of Justice charged 18 people and entities for "widespread fraud and manipulation" in crypto markets.

The defendants allegedly made false claims about their tokens and executed so-called "wash trades" to create the impression of an active trading market, prosecutors claim. The three market makers -- ZMQuant, CLS Global, and MyTrade -- allegedly wash traded or conspired to wash trade on behalf of NexFundAI, an Ethereum-based token they didn't realize was created by the FBI.

"What the FBI uncovered in this case is essentially a new twist to old-school financial crime," Jodi Cohen, the special agent in charge of the FBI's Boston division, said in a statement. "What we uncovered has resulted in charges against the leadership of four cryptocurrency companies, and four crypto 'market makers' and their employees who are accused of spearheading a sophisticated trading scheme that allegedly bilked honest investors out of millions of dollars."

Abstract credit: https://slashdot.org/story/434115

"Unlike most governments, Bhutan's BTC does not come from law enforcement asset seizures, but from bitcoin mining operations, which have ramped up dramatically since early 2023," the crypto intelligence firm explained. Crypto intelligence firm Arkham highlighted the Kingdom of Bhutan's bitcoin holdings on social media platform X last week. Bhutan is a small, landlocked kingdom located in the eastern Himalayas, bordered by China to the north and India to the south. The country currently has a population of less than 800,000 people.

We learned last year that Bhutan had been secretly mining bitcoin using its abundant hydroelectric resources since around 2019. The operation, which began when bitcoin was priced at approximately $5,000, aims to harness the country's vast renewable energy reserves to power mining rigs.

Hydroelectricity already accounts for 30% of Bhutan's GDP and powers nearly all of its 800,000 residents. The government claimed last year that mining profits are used to subsidize power and hardware costs. This revelation makes Bhutan one of the few countries globally to run a state-owned bitcoin mine, alongside El Salvador.

At over $800 million in Bitcoin holdings, the reserve accounts for nearly a third of Bhutan's 2022-calculated GDP.

Abstract credit: https://slashdot.org/story/433433