Bitcoiners, the ultimate anti-bank and anti-WallStreet radicals, are eagerly and voraciously gobbling up the chance to become part of Wall Street via Blackrock. Blackrock has been trying to set up an ETF, which is an abstract side-bet that used to be illegal before Reagan and Clinton wrecked FDR’s stock laws. All the gossip in the bitcoin world, and all the up and down trading, is controlled by the ups and downs of the rumor about Blackrock’s total absorption of the Eternal Unbreakable Antibank.
Somebody hacked the SEC’s twitter account and posted a rumor that SEC had already approved the ETF. Bitcoin ran up tremendously, undoubtedly enriching the hacker.
This is the OLDEST form of tech hack in history. The French semaphore system set up by Chappe in 1793 ended up mostly carrying stock trades, exactly as the electrical telegraph and the digital web ended up as mostly stock-crime carriers. The Blanc Brothers, French stock criminals, bribed the Chappe operators to alter messages to favor Blanc side bets. The Blancs got rich, and before they could be prosecuted they took their money and set up the Monte Carlo casino.
= = = = =
Quick update: The SEC did actually approve, so the hack was premature, not false. Still a classic form of scam.
Polistra's Mill 