
Chinese Billionaire Building $300M Cryptocurrency Hub in Hartford, CT - Dowwie
https://cryptodisrupt.com/chinese-billionaire-building-300-million-cryptocurrency-hub
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kentosi
If anyone else is having troubles accessing this link here's an alternative
one:

[https://www.businessinsider.sg/fintech-college-being-
built-2...](https://www.businessinsider.sg/fintech-college-being-
built-2018-7/)

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ianwalter
Things are looking up for New England's rising star!

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Arubis
Do they actually still call it that?

I recall thinking that was a terrible slogan 20+ years ago. At some point,
it's not that the star you see is rising--it's a distant headlight on high
beams to make up for the other one being busted.

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ianwalter
I don’t know really. My wife, who is from the region, is the only person I’ve
heard call it that now that I think about it. I find it amusing though so now
I do too.

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mark_l_watson
Great! I love to see new research centers, especially in the US. My company
has my office in the university research park at UIUC (Urbana/Champaign
Illinois). A great environment for innovation, supporting startups and
entrepreneurs, etc.

I have been an working in AI since the 1980s and I am just becoming interested
in blockchain (I can recommend the edX blockchain classes).

Hartford is an interesting location to choose. I think cost of living is
reasonable there and it is only 1+ hours from Boston and not so far from NYC.

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zaroth
For those reading headlines, at first I thought this was a $300 million mining
operation, and was wondering how Hartford CT was a competitive power supply.

Actually this idea is crypto-focused college campus, research park, and
coworking spaces.

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arcticbull
Make it $250M.... $200M... $700M... $3M... GONE :P With the crypto market cap
down 70% since January (and general interest with it) they better hurry. Even
entrenched players in the crypto space are moving into traditional assets.
Makes me wonder if they're not just trying to move money out of the mainland.

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JumpCrisscross
Money. Laundering. Bitcoin lets one convert power bills paid with renminbi
into cryptos sellable for hard currency. Switching up the crypto makes it look
less suspicious.

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ttul
Never mind RMB. The same can be done with dollars. Why does your building use
so much power? Must be those cloud computers. Oh, not very profitable? That’s
technology...

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wahern
Because (1) China subsidizes power production but (2) enforces currency
controls. Bitcoin conveniently allows you to arbitrage the power subsidies and
circumvent the currency controls in a single scheme.

