03.11.14

Just when things are darkest, two young men show us what to do — with BitCoin! I can’t get it out of my head!

Posted in Culture of Lickspittle, Fiat money fear and loathers at 11:00 am by George Smith

Hot and fresh from the pages of the Daily Lickspittle: The Ponzi Winklevoss twins are paying Richard Branson $250,000 or maybe half a million in BitCoin for a space tourism ride on Virgin Galactic.

From the iEthers:

Wire news: In a blog post, Tyler Winklevoss compared Branson’s space endeavor and bitcoin entrepreneurs to major historical figures who changed the way the world was perceived, like Marco Polo, Christopher Columbus, Vasco da Gama and Nicolaus Copernicus.


It is in this vein that Cameron and I contemplate our tickets into space – as seed capital supporting a new technology that may forever change the way we travel, purchased with a new technology that may forever change the way we transact.

“Since their inceptions, Bitcoin and Virgin Galactic have been writing the next chapter in our history books. While one is ushering in a new era of post-currency, entirely ledger-based decentralized financial systems, the other is ringing in a new era of post-aircraft, sub-orbital spacecraft-based travel systems.”

And BitCoin altar boys at Reddit, the Internet’s front page, have collected $28000 in BitCoin for BitCoin Elvis in the San Fernando Valley.

Winkdex: $621.

Donate Bitcoins

03.10.14

These simple words are so awesome, first you will be shocked & then you will be walking on air!

Posted in Culture of Lickspittle, Fiat money fear and loathers at 10:55 am by George Smith

Angry at lost BitCoin, I hack Monsieur Gox to steal many of your BitCoin. Problem?

From the LA Times:

[Laura Saggers] said she personally has been trading in virtual currencies for eight months. She grew up interested in technology and studied programming in college, where she majored in music. She currently owns two bitcoins and 62 litecoins.

The Guardian:

Hackers took over the Reddit account and personal blog of Mark Karpeles, the chief executive of shuttered bitcoin exchange MtGox, on Sunday night.

The anonymous attackers used the accounts to post an angry letter accusing Karpeles of stealing bitcoins from his site’s former users, and posted a 750Mb zip file which they say comprises data stolen directly from MtGox’s servers …

Several members of the bitcoin community claim to have found their own transactions included in the dump, which would indicate that the leak is genuine. The hacker or hackers themselves say they were careful to strip out any passwords from the database. But other reports suggest that a second scam could be involved, with an application contained within the zip file, called TibanneBackOffice, apparently stealing users’ bitcoin wallets.

Economist Nouriel Roubini, in Twitter Tweets, from WSJ:

Bitcoin isn’t means of payment as few transactions in Bitcoin. And given its volatility all who accept it convert it right back into $.

BTCbugs like gold bugs are fanatics who speak of BTC in cult-like religious ways. Like gold bugs they have paranoid conspiracy views on the $.

Winkdex: $622 for one Bitcoin.

To paraphrase the cute young woman, money, money, I like money. I grew up interested in technology, studied in college and like to play music.

So this blog also accepts small amounts of Bitcoin. Because I went to a job fair last week and it sucked big time, more on which, later.

Donate Bitcoins

03.08.14

First you’ll be amazed, then tears of joy will flow on seeing this! My jaw hit the floor, seriously.

Posted in Culture of Lickspittle, Fiat money fear and loathers at 10:59 am by George Smith

I not talk again until you buy lunch and gimme more BitCoin. Problem?

Winkdex: $606. A slow decline continues.

03.07.14

Who Mourns for BitCoin Elvis?

Posted in Culture of Lickspittle, Fiat money fear and loathers at 1:41 pm by George Smith

Stupid people! I am not BitCoin Elvis! Now, which of you is going to buy me lunch?

It’s a good parlor trick.

How do you prove you are or you aren’t the Satoshi Nakamoto of interest? Why, you just run off into your bedroom and post a denial in an old chat forum. Or get someone else to. Or someone just does it spontaneously.

BitCoin, the currency and world of and for well-to-do libertarian tech trolls, beings so much smarter than the rest of the rusty old world.

Well, we know the US government is now very focused on BitCoin Elvis. Everyone is watching his blockchain data.

What does it mean for a currency when the person who has the most reserves just hoards it? It is a dick-headed thing.

Ponzi Planet BitCoin likes to think its beyond intervention by its lessers.

I have an idea to contribute to that.

The US government, the Dept. of Homeland Security, the FBI, could determine if the Temple City neighborhood is the actual home of BitCoin Elvis. And they could do it in one afternoon.

Given the news, you declare reasonable suspicion that Satoshi Nakamoto’s Mt. Everest of BitCoin is a potential financial weapon of mass destruction.

Worse than ricin.

And then the squads arrive to go through the house.

Worst that could happen? They confirm finding the wrong person. And then, a little later, they name the right person.

It’s happened before. Twice in ricin cases, once with anthrax, too many times to count in less well-publicized investigations.

And then the world has its answer.

Winkdex has BitCoin at $628. It’s been ever-so-slowly falling since yesterday.

Why? Should there not have been a spurt of BitCoin ebullience when the Olympian deity was initially thought to have been found?

Nakamoto is a genius, a computer programming hero.

Or is it because there’s a dawning realization that someone with the disposition of a Satoshi Nakamoto is sitting on the world’s biggest pile of hyped digital currency. And that someone is so great, so beyond everyone else, that no one can know anything about him.

So, naturally, the BitCoin Elvis, or some flunky in the cause, can and must post a one-line denial, a digital smirk, on some old forum. Because it’s the last word from the man, who has just been inconvenienced, too.

The world doesn’t work that way. You got a big image problem, bub. People not in on the take regard BitCoin as magic money for rich ego-bloated assholes, rip-off artists and criminals.

So, BitCoin Elvis, if the money is to flourish, you’ll have to make a concession, wherever you are, probably in the San Fernando Valley.


The perception-of-BitCoin-users problem. Good work, Mr. Nakamoto!


It was a lead-pipe cinch BitCoin altar boys would start throwing money at BitCoin Elvis. In all tribes of the Culture of Lickspittle you will find those who immediately wish to give money to people who probably already have a ton of it.

The mob, says one of the poor mens’ BitCoin philanthropists, is not a mob, just out to help Satoshi, according to the LA Times:

As of late Thursday morning [the give to BitCoin Elvis program on Reddit] had raised 15.14262168 bitcoins. Based on the latest Coindesk Index which pegs the price of one bitcoin at $616.50, that would mean the campaign has raised about $9,335.

“Thank you for doing this Andreas,” wrote Reddit user gonzobon in a comment. “We all want to show the world that we are not a mob.”

BitCoin Elvis, despite being the deity, is not so smart as built up.

BitCoin is easy to steal, even an attractive target, and those who make and run its infrastructure are equally plagued by human frailty. One such frailty is the always on attitude that they have none as the soldiers in the front lines of the battle to bring on the future.

03.06.14

Caption this photo of BitCoin Elvis

Posted in Culture of Lickspittle, Fiat money fear and loathers at 2:35 pm by George Smith

#$%@, BitCoin freaks! I’m callin’ the cops! I’m not your Elvis Presley!

Comment rescue from this morning, to bring you up to date…

BitCoin Elvis Satoshi Nakamoto has been found! He’s an older and very weird paranoid libertarian computer programmer who lives in the San Fernando Valley in a nondescript tract home.

And he called the police on the Newsweek lady reporter who knocked on his door.

But there’s no getting the toothpaste back in the tube, as Nakamoto found out in being chased around LA County today. And the parade couldn’t come at a better time!

Nakamoto programmed Bitcoin when out of work, informs Newsweek, partly inspired by rage at banks when his house was foreclosed on. And having to pay too many wire transfer fees when ordering model toy trains.

For his career, BitCoin Elvis was deeply ensconced in the employment of southern California defense contractors. Business bloomed for most of the Cold War.

Get your head around this: Satoshi Nakamoto, BitCoin’s inventor, had his bread buttered by defense contractors and government under classification orders. But he is paranoid about government and made a financial instrument, hailed by most of its fans, as a tool for destroying it.

And BitCoin Elvis cannot now easily spend or bank his piles of BitCoin because everyone is watching his part of the blockchain.

Now there will be an encampment around his home on the street and sidewalks as the curious and faithful acolytes go to get a glimpse of their Elvis figure.

He may have to move.

Oh, this is a really wonderful story!

BitCoin is associated with well-to-do tech libertarian assholes. And this is just who BitCoin Elvis is. He couldn’t be a better father figure!

From the LA Times, today, sort of straight out of Fear and Loathing in Las Vegas:

And now a dozen reporters camped out #Nakamoto’s Temple City house are in chase. #bitcoin
— [Times deputy business editor] Joe Bel Bruno (@JoeBelBruno) March 6, 2014

So the AP reporter takes #Nakamoto to lunch for the #Bitcoin scoop, to a sushi restaurant in Temple City. Other reporters chase them.
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

Then reporters barge into the sushi restaurant, confront the @ap reporter and #Nakamoto
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

So #Nakamoto and the @ap reporter flee the sushi restaurant. The rest of the media take chase again. #bitcoin

OK, so apparently #Nakamoto and the @AP reporter are driving around being chased by media. #bitcoin
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

The #Nakamoto car has pulled over. #Bitcoin The chase has ended!
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

OK, so #Nakamoto and the @ap reporter have just pulled over on a RANDOM street. #bitcoin
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

BREAKING: #Nakamoto and the @ap reporter are driving in a Prius. (Hey, fine, its just a detail!) #bitcoin
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

There is a huge chase going on behind #Nakamoto. Tons of media. All heading west on the 10 freeway
Ok, so now #Nakamoto has exited freeway. He’s in downtown Los Angeles. Great #Bitcoin chase
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

After some traffic, and some red lights, we are now again right behind #nakamoto in the #bitcoinchase
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

So the @ap reporter just took #Nakamoto into the @AP bureau. SMART REPORTER!
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

The @ap reporter drove his Prius into the parking garage with #Nakamoto
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

Here’s the best part: THE Media can’t drive into the parking garage! Its private #Nakamoto #bitcoin chase
— Joe Bel Bruno (@JoeBelBruno) March 6, 2014

Winkdex at $657.32 for one BitCoin, showing no jump from the wild ride of BitCoin Elvis.

“My brother is an asshole,” Arthur Nakamoto, the brother of BitCoin Elvis, told Newsweek.

03.04.14

Caption this picture from Ponzi Planet

Posted in Culture of Lickspittle, Fiat money fear and loathers at 10:27 am by George Smith

I lost my shirt but am still Google cyborging! Liberty!

Keys: BitCoin Aaron Kolin Burges


Morning comment reclamation:

Like so many digital inventions, Bitcoin is the universal solvent/solution to everything. Another Bitcoin bank robbed? No problem! Bitcoin goes up, the Winkdex says $674.21!

From the Guardian:

A bitcoin bank has been forced to close after hackers stole 896 bitcoin, worth £365,000, in an attack on Sunday.

The company shut its website and posted a statement on Tuesday morning detailing the loss.

“On March 2nd 2014 Flexcoin was attacked and robbed of all coins in the hot wallet,” the statement read. “As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately”…

The same day the company came clean about its losses, a second bitcoin firm, Poloniex, also admitted that 12.3% of its reserves had been stolen by hackers.

Nothing dents the confidence of the tech libertarians on their march to the glorious future of freedom from all vile tyrannies.

03.01.14

Music for a Ponzi Planet

Posted in Culture of Lickspittle, Fiat money fear and loathers at 12:53 pm by George Smith


Pete Seeger’d shit: “Oh, lord, pass me some more.”

Demographics:

Boys’ club, a minor subset of WhiteManistan, even though they exist in tech centers. Young right-wingers who don’t get wound up over gay people.

Losing 300,000 to MtGox as an affordable loss for someone who lives in a money-laundering hub, Panama City, and posts the truth to “the Internet’s front page,” Reddit.

The perfect philosophy of money for someone freeing the world from government tyranny with a plastic gun until the State Department took it off him for unbelief in the ITAR.

Winkdex says BitCoin is still worth $516 today even though MtGox just blew a big hole in the stash. The fanbase is desperate to keep it propped up and they can, for a while, since most of it is held by a tiny niche of the population. And the thieves certainly don’t want it to devalue.

Have you ever run across a female ‘glibertarian’?

What happens when an almost billion dollar hole is in a money supply held by a very small population?

How much of the next year do you devote to slow, stealthy money-laundering?

Young men who have no use for Western Union and check-cashing stores.

I Bought Subway with BitCoin and it was Really Awesome entrepreneurs who run start-ups on how to advertise on Facebook.

Young men “named” in tribute to John Galt.


Early semi-retirement canceled. BitCoin Godot never showed.


I’m not waiting for BitCoin Godot in today’s post.

Instead, the real world. Two or three hundred people for two part-time jobs at a local super-market.

02.26.14

Why BitCoin isn’t for shitty little people: Reason #1, the Ponzi Twins

Posted in Culture of Lickspittle, Fiat money fear and loathers at 3:44 pm by George Smith

The most seen faces of BitCoin, until the Mt. Gox failure and replacement by the Waiting for BitCoin Godot guys.

Bitcoin holdings of Tyler and Cameron Winklevoss:

$64.1 million

Source: The New York Times, today.

What makes the Ponzi Twins so swank?
It’s all that money in their BitCoin tank!
And how did the Ponzis get so swank?
Who knows, buddy? Don’t be a crank!

Even Nobel laureates in the Manhattan Project never approached the worth of the Ponzi Twins.

From the man the Reg used to refer to as McClunker:

A US senator is asking the federal government to take this remarkable step: completely ban Bitcoin.

Joe Manchin, a Democratic senator representing West Virginia, sent a letter Wednesday to the Treasury Department, the Federal Reserve, and other regulators characterizing the virtual currency as encouraging “illicit activity” as well as being “highly unstable and disruptive to our economy.”

Manchin, who is a member of the Senate banking committee, suggested in the letter — titled “Manchin Demands Federal Regulators Ban Bitcoin” — that a complete prohibition was appropriate because Thailand, China, and South Korea have already enacted severe restrictions or bans of their own.

It’s unlikely that the Federal Reserve and the executive branch possess the statutory authority to prohibit Bitcoin without a new law enacted by Congress and signed by the president — making Manchin’s letter something of a publicity stunt.

No one listens to Joe Manchin. More unintentionally humorous, he’s the famous Senator from a state where most of the people have little or no money: West Virginia.

Unintentionally funny random headline:

Larry Summers Optimistic About Bitcoin Amid Huge Thefts

BitCoin supporter on-line speech of the day:

Hello Mr. Casey,

I read your [Wall Street Journal] article today. I feel deceived by you.

You requested to speak with me, so I took time out of my day to do so. We talked for 20 minutes, during which time I conveyed to you my sentiments about the Bitcoin ecosystem and the matter of MtGox’s collapse. My message was unambiguously a positive one. I didn’t focus whatsoever on the personal funds I lost at Gox. Indeed, the impetus for your call was my heartfelt post on Reddit.

Yet, you ignored everything I said. The only quote that you published from me in the Journal’s cover story was “”That’s gone now,” said Mr. Veerhoos, who is based in Panama City, Panama. “There’s no chance of getting that back now.””

Is that really the takeaway you had from our call and from my letter? Is that your idea of journalism? Did I come across with the sentiment of a despairing investor whose confidence has been rattled? It seems you were happy to completely ignore my sentiments, preferring instead to cherry pick the one fact that is least important, in order to paint a narrative that Bitcoin’s biggest problem is that it’s not “regulated.” I didn’t expect you to quote everything I said, but should you not have maintained at least a modicum of fidelity to my message?

I have dedicated my life to building and supporting the Bitcoin project. I don’t give a damn about the money I lost at Gox. That’s not important. What is important is that Bitcoin is resilient and enduring, and will continue to grow and change the world for the better. It is a story of human progress through technology. It is a story of the good seeping into the cracks of a corrupted financial system. It is a story of passionate people struggling against all odds to remedy the calamities brought down upon society from the most potently misguided people and institutions on Earth.

Next time you spend your efforts casting a pall over this cause, please don’t ask me to contribute mine.

-Erik Voorhees

PS – I will be posting this letter openly on Reddit. I will post your reply if you’d like. And if I do, I won’t cherry pick the most misleading points of it, and I will spell your name correctly.

Mr. Vorhees, it is said, lost over $300,000 in BitCoin on Mt. Gox.

From said WSJ piece:

Executives of bitcoin businesses around the world scrambled on Tuesday to shore up confidence …

A number of mainstream merchants recently have started accepting bitcoin for payment, including online retailer Overstock.com, the Sacramento Kings professional basketball team and online dating site OKCupid.

The Mt. Gox mess hasn’t changed the enthusiasm of Overstock.com, which began accepting bitcoin for payment in January. “If we didn’t use greenback dollars because a bank or two failed, the greenback would never have gotten off the ground,” said Jonathan Johnson, executive vice chairman of the discount online retailer.

02.25.14

BitCoin exchange bites dust

Posted in Culture of Lickspittle, Fiat money fear and loathers at 9:56 am by George Smith


All your money are belonged to “Poof!”

Mt. Gox is gone, or almost so, reads the news.

Rumors about the possible collapse of leading Bitcoin exchange Mt. Gox are sending shock waves through the community that has embraced the virtual currency.

Amid radio silence from the company, users are attempting to sort through conflicting signals that the company has shut down or that it is being acquired and possible relaunched …Ryan Galt, a Bitcoin blogger, wrote a post expressing his fear that this could be a fatal blow.

“This is catastrophic, and I am sorry to share this,” he wrote. “I do believe that this is one of the existential threats to bitcoin that many have feared and have personally sold all of my bitcoin holdings through Coinbase.”

That would be the Ryan Galt, great great grandson of John.

Meanwhile, over at Ponzi Twins Central, the Winkdex provides evidence that BitCoin hoarders are desperately trying to keep the price of the currency propped up.


Blast from the past last weeK:

Protester Kolin Burges, who started dabbling in virtual currencies last summer, says that he should have known Mt Gox was “a bit dodgy”, and accepts that he should not have stashed all his Bitcoins – the proceeds of a well-timed sale of Litecoins – in the exchange’s vaults as late as January 28 …

“Exchanges need to prove that they have X amount of coins, and X amount of cash,” says Mr Burges, an Android games developer hoping to “semi-retire” if he gets his coins back. — The Financial Times

Donate Bitcoins

02.24.14

The Ponzi Twins

Posted in Culture of Lickspittle, Fiat money fear and loathers at 2:31 pm by George Smith

America’s plutocrats, just because, from here last week:

Why were the Winkelvoss twins able to become Bitcoin experts?

Because they had the money from the upper class and sucking cash from Zuckerberg, enough to at least buy up 1.5 million and somethings worth of Bitcoins.

And why are they successful at getting others to invest in their consulting services, hedge funding and so on? Because they are famous to semi-famous for being famous or semi-famous and people see the money sloshing in news articles in which the Winklevoss twins appear.

So the Winklevosses are wealthy because they were born to it and became adept at siphoning big money from large pools of it as the opportunities are presented when it splashes around.

Bitcoin, which is for hoarding, gaming the system, deception, chiseling and speculation, is a perfect match with them.

From the New York Times, on February 19:

Stock traders have the Standard & Poor’s 500. Bitcoin bettors will have the Winkdex.

The new financial index takes its name from the Winklevoss brothers, famous for their legal battle with the Facebook founder, Mark Zuckerberg. The Winkdex was released publicly on Wednesday and provides a regularly updated figure for the price of Bitcoin, the virtual currency that has risen in popularity over the last year …

There are already a bunch of these things. But they are not called Winkdex and perhaps lack the slick cachet of the Ponzi Twins.

If you have the old BitCoin client server and wallet for the PC, you know you can contribute to the BitCoin network. You can give it your electricity and resources to help keep track of worldwide BitCoin transactions in exchange for nothing.

The BitCoin wallet will gladly chew up electrons for you as your virtual crypto-currency wallet sits empty, not even inhabited by a virtual moth.

My BitCoin personal client address:

1AVgAs6MmoFGfDCUaWvJVKtJurZFyqt9ps

And, finally news you can use from a data center publication:

Can data centers tap unused server capacity to mine for Bitcoins? The question occurred to the team at the online backup service iDrive, which performs most of its customer backup jobs overnight, leaving its 3,000 quad-core servers idle for much of the day. So the company ran a test with 600 servers to see whether Bitcoin mining could become a secondary revenue stream.

The result: running Bitcoin mining software on those 600 quad-core servers for a year would earn about 0.43 Bitcoin, worth a total return of about $275.08 at current prices on major Bitcoin exchanges.

“Its a waste of time, so any other company thinking about mining with their infrastructure, learn from us,” said iDrive’s Matthew Harvey.


Yes, the blog now accepts BitCoin.

Please don’t make me so desperate that, like Jesse Korff, I start up a black market for exotic poisons on onion-network routers to just get a BitCoin by selling doses.

All I want, before I die, is to go home to Allentown and be able to use BitCoin to buy a sub sandwich on Hamilton Street.

Donate Bitcoins

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