04.25.14

Yep, still AssholeCoin

Posted in Culture of Lickspittle, Fiat money fear and loathers at 2:37 pm by George Smith


The Rise and Rise of BitCoin, via Winkdex: Or the graph or the hoarders slowly trying to unload their holdings onto other libertarian tech geek suckers.

Note steady downward slope since apex of BitCoin mania.

In other news, BitCoin Elvis of Temple City, was given $20,000 in BitCoin by Reddit BitCoin altar boys for a YouTube press release in which he asserted that he was not, in fact, BitCoin Elvis. Again. Thanks for the 20k, though. (No link)

And from the wire, the BitCoin satellite network, which doesn’t exist yet but so (?):

One private venture is aiming to launch a cluster of tiny satellites that would broadcast the latest bitcoin transactions from orbit.

“To me, it’s really about resilience and lowering costs,” Jeff Garzik, the man behind the start-up Dunvegan Space Systems, told Space.com. This week, Garzik announced that his company contracted the private space venture Deep Space Industries, Inc. to develop nanosatellites for the project dubbed BitSat.

Primarily, Garzik hopes the BitSat network will have a democratizing effect, making bitcoin data available to people living in off-grid locations or outside Western nations in places where an Internet connection is costly.

Garzik has a fundraising target between $2 million and $5 million to get the first BitSats off the ground. He’s hoping to raise those funds (in bitcoins) through a Kickstarter-like campaign.

Off-grid being tech geek libertarian code speak for “I’m going to have a place with my rules like the Republic of CyberBunker or SeeLand or any sea-steading micro-nation-type thing.”

Micro-nationers gotta be able to have BitCoin and access to the blockchain.

Next up, the intriguing trailer of the fan documentary, The Rise and Rise of BitCoin, by Daniel and Nicholas Mross, two aspiring Winklevosses.

Viewers will notice the BitCoin movie shows all the tech geek white guys into it (except for the one non-white masked guy who’s selling drugs on Silk Road).

One of the characters in the trailer, another crypto-currency coding genius, again points out the commonly held notion that BitCoin is all about the democratizing power of technology. Because there’s nothing that says democracy more than a money that’s concentrated all in the hands of speculators and hoarders and which can only be “mined” by ridiculous assemblies of machines average people can’t afford.

An excerpt from a review in the Hollywood Reporter:

Between interviews with entrepreneurs, Libertarians who’ve embraced the currency in order to get off the grid and U.S. government officials tasked with assessing virtual currency’s relevance to money laundering and funding terrorism, the film charts the currency’s fast-rising price in U.S. dollars and watches as Dan Mross invests plenty of money in his mining operation. Some chunks of this narrative are chronologically vague, a not-insignificant failing given how quickly things change on the Bitcoin scene. And most viewers will want a little more detail about our guide’s personal experience with the currency. Having bought in so early, is he now rich? How much did he spend on all those specially-engineered servers in his basement?

Make way, BitCoin ist die Zukunft, coming to you today! The future’s brimming with promise and the promise is heading our way.


And just for fun, a picture from the Winklevoss West palace in the Hollywood Hills.

Purchase made possible by the cash chiseled from Zuckerberg.


3 Comments

  1. Ted Jr. said,

    April 25, 2014 at 2:58 pm

    >there’s nothing that says democracy more than a money that’s concentrated >all in the hands of speculators and hoarders and which can only be “mined” >by ridiculous assemblies of machines average people can’t afford.

    But it’s the libertard dream world come true – no regulation ‘freedom’ to do what you want, and since everyone is basically honest and wholesome, no problems either.

    Yet, if you mention central banking and its creation of money from thin air, these same libertards will tell you that the obscene concentrations of wealth distort free markets and that the whole rotten system will collapse because some loon named Von Mises (funded by Rothschild incidentally) came up with concepts like ‘crack up boom’ and ‘collapse of fiat’ because it is not backed by anything except government decree.

    So these Von Mises shills will pump gold endlessly and guess what – nearly every one of them is a bullion dealer in their spare time.

    And the cognitive dissonance is lost on these people completely.

    And as full disclosure, I do own a small amount of physical gold just in case there is a Weimar inflation event in our economy. Glad I bought it in the 200’s though – I was finished long before 1900 arrived.

  2. Ted Jr. said,

    April 25, 2014 at 9:31 pm

    Here’s something about a company run by your favourite humanitarian –

    http://investmentresearchdynamics.com/heres-why-amazon-com-stock-is-getting-ripped-today/

    What a plonker Mr B really is. Bet he’ll revolutionise the newspaper business as well.

  3. George Smith said,

    April 26, 2014 at 9:02 am

    I read a few stories this week on studies that now show that Amazon gets hurt in the states that have started collecting sales tax on its transactions. Bezos loses much of the pricing advantage and, turns out, Amazon users are fickle. They’ll go somewhere else right away.

    He will fail in newspapers. Bezos took Henry Blodget to advise the Washington Post staffers. From knowing news people I am positive none of them were impressed by Blodget or the journalism model set by Business Insider, which is just clickbait work. Bezos only likes Blodget because the latter touted Amazon stock before he was thrown out of Wall Street for fraud.

    Whatever happens with the Post, it won’t be good. And Amazon’s publishing imprint, that is — the part that’s been doing old-style respectable books, is not a success.