03.04.14
Caption this picture from Ponzi Planet
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.
Ted Jr. said,
March 4, 2014 at 9:57 pm
“A bitcoin bank has been forced to close after hackers stole 896 bitcoin, worth £365,000, in an attack on Sunday.”
I’m starting up my own krypton currency myself. It will be based on the full faith of all my imaginary friends. There will be a strict limit on the number of those friends so that the supply won’t be too diluted. And I’ll make sure that the details on my imaginary friends are secret so that some Wink or Dink can’t re-re-re-hypothecate any of my krypton coins.
And they will be safe and secure, because you have my word on it.
I’ll start the IPO at 500 and we’ll work from there.
George Smith said,
March 5, 2014 at 8:31 am
http://www.coingen.io/
Folks, create your own PonziCoin. 33 dollars at today’s rate on Winkdex. An extra 66 if you want the crippleware mark for Coingen removed.
So, 100 dollars to get started. Build your community of fans, hoarders and speculators first. Remember, no girls, and everyone needs to have money and be philosophically inclined to being in a cult, groupthink and raging libertarianism.
Made to spoof the idiocy of alt-digital currencies, even CoinGen is making a mint for its creator. It’s not WhatsApp as clickbait money, but what is?
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I see I have to amend the ‘no girls’ bit slightly. This morning, it was reported 28-year old Autumn Radtke, CEO of Bitcoin exchange, First Meta, was reported to have died in her Singapore apartment. Many stories implicate suicide although no official determination has been made. She was formerly a developer in digital payment systems for Apple.
http://www.youtube.com/watch?v=GzVxRmvipVY
Here she is talking about her company which formed to be a banking exchange for online gaming world currencies.
Interestingly, and this is two years ago, she says about halfway in that 10 percent of the exchanges in gaming virtual currencies/cash are fraud or money laundering. Then she explains how crooks use phishing tricks to gain access to accounts and steal gaming currencies. This is then exchanged for real money.
“This has caused a lot of headaches,” she says.
Then she gets to BitCoin, about which she is/was very excited.
“2012 is going to be the breakout year for Facebook credits.”
Hmm, they were done away with, right?
Ted Jr said,
March 6, 2014 at 6:58 am
The face behind bitcoin revealed (sort of):
http://sufiy.blogspot.co.uk/2014/03/bubble-chronicles-satoshi-nakamoto-face.html#
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Hmm, a person with a shadowy past comes up with a product with a shadowy future, and of course what real influence did a certain alphabet agency have in the creation of all this…
Can’t wait for Max to ‘splain this….
George Smith said,
March 6, 2014 at 9:26 am
Boy, that does fit. Older weird paranoid libertarian computer programmer who lives in the San Fernando Valley in a nondescript tract home. Calls cops on reporter. Programmed Bitcoin when out of work, partly inspired by rage at banks when house foreclosed, having to pay too many wire transfer fees when ordering model trains.
Worked for defense contractors and government under classification orders but paranoid about government. Cannot spend or bank his BitCoin pile 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.
Ted Jr. said,
March 6, 2014 at 4:53 pm
But now that we know who he is, shouldn’t our confidence level go up?
Shouldn’t B/Coin go to the stratosphere now?
Or is this smelling more and more like stage managed theatre for the terminally stupid?
George Smith said,
March 6, 2014 at 6:02 pm
I thought so at first. I believed there would be a spike of BitCoin ebullience. But then I looked at it another way. BitCoin Elvis Nakamoto was looking a bit like other weirdos who’ve been chased around on LA County highways by helicopters, media and authorities.
You have to live here, but they used to be televised all the time. The top market share was O J Simpson’s highway ride after he knew the police were coming to arrest him in connection with the murder of his wife and her boyfriend. Of course, BitCoin Elvis is not a suspected criminal. And, to the public at large, not at all a celebrity although he will quickly become notorious, whether he likes it or not, now.
He’ll get a multi-million dollar book offer. Morning news shows will want him, so will Oprah, eventually.
People will want to publish his worth, according to his BitCoin piles. They will want to comb over when he was developing his BitCoin. Was he still with his wife and/or being supported? If so, under California law, in a split the spouse is entitled to a lot. Are the members of BitCoin Elvis’s family entitled to any of his fortune? Is this why he wished to keep his identity secret?
How liquid is the currency when the person hoarding the biggest pile of it in the world is BitCoin Elvis, living in the San Fernando Valley, one of the most populous places in the world?
BitCoin Elvis, pre-BitCoin owing his liquidity and lifestyle to Uncle Sam, the taxpayer, and classified arms manufacturing company security work, developer of BitCoin because he hates government and banks.
Libertad!
I love it. Fascinating! Who will play BitCoin Elvis in the movie adaptation?
Ted Jr. said,
March 7, 2014 at 11:18 am
Thanks for pointing out the celebrity distraction meme. You’re right about the movie too, sounds like a made for tv 90 minute special. Maybe they can get Charlie Sheen to play Max K – just about as manic as the genuine item.
“How liquid is the currency when the person hoarding the biggest pile of it in the world is BitCoin Elvis, living in the San Fernando Valley, one of the most populous places in the world?”
Yup. like having billions in perfect counterfeit currency and you can’t spend it. Karma can be a really interesting phenomenon at times.
George Smith said,
March 7, 2014 at 1:14 pm
Today’s post will be how do you prove you are or you aren’t BitCoin Elvis? You know the US government is now obviously very focused on BE. Everyone will be watching his blockchain data, if they weren’t already, and I’m sure they were. What does it mean for a currency when the person who has the most reserves just hoards it? Think about it a little. It really is a totally dickheaded thing.
Plus BitCoin Elvis is not so smart as built up, not quite the deity. BitCoin is easy to steal, even an attractive target, and those who make and run its infrastructure are equally plagued by human frailty.
This reminds me a lot of the personalities I wrote about in the Virus Creation Labs 20 years ago. Except now they’re all in middle age. The kind of people who think that trolling a one-line smirk in an old e-mail forum is the last word. Except back then it was on the Fidonet or Usenet.
BitCoin Elvis probably thinks this way. After all, he wouldn’t talk to the Newsweek lady and then chose the AP reporter on who was the first to bribe him with a free lunch.