03.20.14

Put a brilliant hacker in an on-line Bitcoin bank & he’ll start changing lives right and left! Your eyes will fill with tears!

Posted in Culture of Lickspittle, Fiat money fear and loathers at 12:06 pm by George Smith

Comment rescue:

Bitcoin is as a SCAM by design as I have voiced many times over several months in that even when a large percentage of people have their holdings stolen the price is stable enough to continue to entice new entrants into exchanging hard earned fiat currency for bitcoins via the ramblings of the clueless mainstream press.

From here.

I suspect it’s possible to scan the blockchain, or exchanges and their reported trades, for the purposes of getting an idea as to whether or not a significant portion of bitcoin hoarders are trying to stealthily and slowly unload their holdings onto others for US dollars.

The author above is right about the mainstream press.

The “Bitcoin beat” has been created and most of its work is pumped out by editors and reporters who are either stenographers, blow-jobbers or writers just thinking up crap to put down so the news sites benefit from clickbait.

Like Bitcoin, it’s substantially detached from reality.

That’s the model of the tech press. Invariably, once a trend beat is invented or discovered, it separates from reality and exists only as p.r., troll pieces, processes to secure eyeballs, servant the subject and keep the beat going.

The grand-daddy of the phenomenon is defense and national security reporting.

The Winkdex: $592

Hat tip to Ted Jr.

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