01.13.14
JunkCoin world
Alternative digital currencies are a true nuisance fad, exercises by the libertarian nerd have-class with disposable income, all now for the furtherance of exploiting the greed and manias of their colleagues for Bitcoin-style instant wealth.
All of them characterized by growth in value based on nothing but the ideology of algorithm-amplified grasping. You have two flavors of them: Predatory devices in slow or fast-moving fraud, or jokes.
The creators of at least 70 different altcoins took Bitcoin’s source code and tweaked it. They created BBQCoin and Coinye — much to Kanye West’s disapproval — and Dogecoin — based on a meme — and Stalwartbucks — as a journalistic exercise from Business Insider. The Washington Post’s Timothy Lee has a nice explainer on why people are creating these. Some are serious; some are not. But that’s the thing that makes people so skeptical about digital currencies: they’re pretty easy to create out of thin air …
The author goes on to state if you invested 100 dollars in LiteCoin last year, now it is worth $30,000. You then get the interview with its inventor, another ex-Google pest, Charlie Lee, and it has not made him rich … he says.
LiteCoin mining rigs are allegedly, let’s repeat — allegedly, supposed to not be as easy to turn into a hardware escalation battle as BitCoin mining rigs. Reviewing these pictures — it’s just more of the same — except on a slower time track.
More shifty “money” for tech-obsessed assholes with all the same deeply-ingrained character flaws as Bitcoin speculators/fans, now seventy currencies in libertarian JunkCoin world! Seventy. Can we soon expect an even hundred?
Satoshi Ponzimoto — best name, ever.
Frank said,
January 13, 2014 at 9:20 pm
It’s a Ponzi scheme perfectly designed to separate glibertarian geeks from their money.
Bill said,
January 14, 2014 at 8:04 pm
It’s a roach motel for your money, it goes in but the exit is a bit
difficult to navigate.
I am pretty confident SpitCoin will fail, as the biggest promoter
seems to be Max K. and he gets all these fads dead wrong with
almost 100% accuracy.
Great contrarian indicator is Max K.
George Smith said,
January 14, 2014 at 8:40 pm
Mak Keiser, huh? You read him so I don’t have to, which is certainly a service and the blog thanks you for the pithy synopsis..
Tom Paterson said,
January 16, 2014 at 2:58 pm
bitcoin solves a problem has who? not me,
and nobody within cooee.
just preppers and crims
and the winkelvoss twins
who spell ‘acumen’ ‘a, double cee …’
cummings