12.21.13

The perfect ‘money’ for our time

Posted in Culture of Lickspittle, Fiat money fear and loathers, Psychopath & Sociopath, WhiteManistan at 12:50 pm by George Smith

The tech nuisance demographic that supports bitcoin is a subset of the right wing libertarian tribe. They view it as a way to do their part in destroying tyrannical government. Cody Wilson, for example, the young pest who was sure his 3D-printed plastic gun plans were a strike at government until the US ITAR rules shut him down has migrated to bitcoin wallet-making. (Feel free to add hilarious comments on the need for 3D printing plans for guns in America at the end of 2013.)

You find the same sentiments in old gold bugs, the old white guys of the Republican Party and the old white people known as “preppers.”

Bitcoin is just more high button. It’s literally a “money” for stroking the every-man-for-himself psychology, a “money” that’s perfectly fit to tech sociopaths.

The being said, another fair assessment is that bitcoin is certainly a money for our time.

Although it’s dressed up as being something good for the world in its way of undermining and destroying central banking, it’s really just something that allows some people, a very select few, to make fortunes without doing anything, more specifically, without doing anything that is even remotely a social good. Just like the 1 percent, or Wall Street, or much of corporate America.

Pine View Farm pointed to another biting critique of bitcoin. Here is the link and an excerpt:

But someone’s already out there offering “Bitcoin mining computers,” which cost several thousand dollars apiece. (Notice that you can’t buy one with bitcoin … heh.) They’re selling you the dream of a “magical money-machine.” There’s a sucker born every minute, and that sucker … his “mark” … is you. Be aware. (One unit sells for $14,500.00 and “ooh, hurry up hurry up and buy one before they all get sold-out!”) You should know better. But they’re counting on you having gold-fever …

Another piece of the growing bitcoin scam is seen here, in a long advertorial aimed directly at the old people conned by the incessant ads for buying gold on Fox News and Glenn Beck’s Blaze website.

It’s a make-money-fast video and if you view it you’ll immediately notice the bitcoin name isn’t even uttered until you’re well into it. The revolutionary new money that’s shaking world government is initially referred to as the newest version of “Edison’s dollars.”


On bitcoin — from the archives.

9 Comments

  1. Frank said,

    December 23, 2013 at 7:16 am

    Dead Pirate Roberts wants his bit-treasure back.

    “Ulbricht says in a legal filing that the currency should be returned because it isn’t subject to civil forfeiture rules.”

    http://www.sacbee.com/2013/12/23/6022880/man-in-silk-road-case-wants-his.html

  2. George Smith said,

    December 23, 2013 at 8:24 am

    Hah. That means the government, at one point, held over 144 million in bitcoins, probably making it the largest stakeholder in the “money.”

  3. Frank said,

    December 23, 2013 at 10:59 am

    I do not believe that Mr. Pirate’s arguments will convince a judge. If nothing else, the commerce clause comes into play.

    It may be a rude awakening to glibertarian geeks. And a delightful one.

  4. Frank said,

    December 23, 2013 at 11:05 am

    Afterthought: Do other countries have glibertarians?

    I know they have wingnuts, but that’s a different variant. Look at Hungary for one.

  5. George Smith said,

    December 23, 2013 at 1:39 pm

    Bitcoin, being international, must have glibertarians. There was the Republic of Cyberbunker, as you recall. SeeLand — that went well. It’s an Englishman who went to Iceland to start the bitcoin mine. Friedrich Hayek was an Austrian economist, now loved by libertarians. You can laugh yourself into tetany reading the ocean of material on the web concerning Hayek and what the right wing and libertarians believe about him.

    And then there’s this, Chomsky’s explanation that “libertarianism,” or glibertarians in America, are completely opposite the original meaning.

    http://www.youtube.com/watch?v=31VAUFVPF8E

    He states, near the end, in the US — libertarian values are directly opposite enlightenment values.

    Bitcoin tribe is like that. They convinced themselves bitcoin made it so they give the orders. Then China gave the order about bitcoin. And the US government took control of Dread Pirate Roberts’ bitcoin purse.

  6. Frank said,

    December 23, 2013 at 8:54 pm

    I wasn’t thinking so much of the bitcoin tribe subset, but of the larger spectrum of glibertarianism, the folks who think that having copies of the Constitution in their pockets turns them into Constitutional lawyers.

    Sundialsvcs has another great post at LQ: http://www.linuxquestions.org/questions/general-10/food-for-thought-what-is-money-anyway-4175488963/

    I wonder whether, in another life, he was an Econ prof.

  7. George Smith said,

    December 24, 2013 at 9:59 am

    Extending that argument further, bitcoin is pointless precisely because it is only of use to the speculators. The vast majority have no way of doing anything with it, except by the occasional instance of randomness or dumb luck.

  8. Frank said,

    December 24, 2013 at 1:46 pm

    There’s a bitcoin miner on one of the Linux podcasts I listen to.

    Coincidentally, he is also a–er–firearms enthusiast.

  9. George Smith said,

    December 24, 2013 at 2:21 pm

    the folks who think that having copies of the Constitution in their pockets turns them into Constitutional lawyers.

    This fit Cody Wilson, the famous plastic gun and bitcoin wallet guy.

    Add to the Constitution, a copy of Bastiat’s The Law.

    “Anyone building a personal library of liberty must include in it a copy of Frédéric Bastiat’s classic essay, The Law,” reads the foreword at the Ludwig von Mises Institute.