The tiny handful of realists who are ALSO realistic about Bitcoin are having a grand old time with the rapping Power Couple who hacked and laundered a massive quantity of Bitcoin. Theoretically the amount they moved would be worth 4 billion dollars if you could convert it to actual money, which of course you couldn’t.
Patrick Boyle, the master of deadpan British humor, solemnly declares that he is abandoning economics and turning his podcasts into rap reviews to get with the times.
My best guess is that these Influencers were at least partly federal informers, and got punished after they went rogue. According to various stories, most of their hacking and laundering was amateurish, but some of it would have required inside access to the highest levels of the blockchain setup. Amateurs don’t get that type of access UNLESS they’re working for the Feds, and people who have that type of access don’t get punished unless they STOP working for the Feds. It’s a familiar pattern.
The only unfamiliar aspect is that the “male” member of the couple, Ilya Liechtenstein, was nicknamed Dutch. That’s a very old tendency. Guys with difficult Kraut names were always called Dutch. I once worked with Hank Dutch Aufderstrasse. The tendency was strong in the working-class circles that spawned gangsters like Dutch Schultz. (Nowadays, of course, Arthur Flegenheimer would be an MD, and he would be head of the CDC numbers racket, not head of the NYC numbers racket. In other words, Dutch Schultz would be Carter Mecher.)
I find it hard to envision a superWoke power couple tolerating such an unfashionable quasi-“racist” nickname. Maybe they’re not so Woke after all; maybe they’re just plain old gangsters.