03.01.14
Music for a Ponzi Planet
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.
Ted Jr. said,
March 2, 2014 at 1:33 pm
And Keiser is going full blown retard in his attempt to keep this going.
TBH, I always had my doubts about him but now I am convinced he is a disinfo agent working for some alphabet agency.
However I do wish to point these little tidbits out –
“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?”
“I Bought Subway with BitCoin ”
etc… proves you “GET IT” which means you are a leg up on 99.44% of the population.
Oh and lest I forget – I thought Mike Krieger was a pretty smart guy, but he seems taken in by b/coin too.
Time will tell if he’s honest as well as ex-smart.
Ted Jr. said,
March 2, 2014 at 1:36 pm
Oh and one more thing. Watch out for Winky and Dinky when this blows over. If they are teflon men, that will prove they weren’t just in this for profit but were covered by the ones who really run things.
Otherwise, scapegoats will be necessary when this thing blows, and I can’t think of two bigger ones than Winky and Dinky.
George Smith said,
March 2, 2014 at 2:15 pm
Winkdex has BitCoin up since original post, now at $554.98.
Just went out to Max Keiser. That is some industrial strength grab bag conspiracy site, kind of a high button Alex Jones-type thing. Couldn’t follow a lot if it, would take a few days of acclimatization I suspect..
Ted Jr. said,
March 3, 2014 at 5:31 pm
RE: Max K
The babe runs the site and runs him. He is (I believe) a genius but incapable of any sustained thought because of acute ADD. Consequently, all ideas he formulates are half baked.
MK is an attention whore of the ultimate degree – a 33rd degree attention whore if you like – and it doesn’t matter who he uses or what he does, as long as someone is listening that is all he cares about. And yes, he hooked up with Mr. Jones for a while and the quality of programming dropped faster than an empty Gox excuse.
Yet I do find Max to be very close to the most reliable contrarian indicator I have run into – if Max promotes it, it is ultimately doomed.
So it’s a completely different fascination I get with his spew than I get with this blog which is well written even though I don’t necessarily agree with everything that comes out.
Honest people will always have disagreements. Dishonest people will always have agendas.
The latest b/coin nonsense I read was how people in the Ukraine could retain what they own if they have b/coin. Good luck buying food with that stuff when the lights go out.
George Smith said,
March 4, 2014 at 10:23 am
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 free of all restraining tyrannies.
They Buy Subway with Bitcoin and it remains Awesome!
One of BitCoin Godot’s pals lost his shirt waiting at Mt. Gox. But he still has his Google Glass.
http://cdn.theatlantic.com/static/newsroom/img/mt/2014/02/RTR3FP6U/lead.jpg
Ted Jr. said,
March 4, 2014 at 10:08 pm
“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!”
B/Coin – the WD-40 of the internet.
Hope it can silence the squeaks, too.