Tag: Bitcoin
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Reciprocal realism
Now that QT is nearly done collapsing the Bitcoin bubble, there’s much less material for snark. One thing still holds true: Polistra’s Reciprocal Realism Rule. Realism(bitcoin) = 1 / Realism(world) Writers who see the world in stark clarity fall for bitcoin, or shill for bitcoin. Writers who see bitcoin clearly are lunatics on all other…
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Reprint from 2014
Suggested by the Fleischmann deltas in previous item. STYLES AND STACKS. Continuing yesterday’s discussion of potential differences in electronics and economics. Thinking again of these alternate ways to describe a system. You can start from two TYPES of force or source, two separate poles or centerpoints…. or you can treat local pieces of the system…
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Just like the old
Sam Altman, the evil godfather of OpenAI, has started another evil project which is brazenly dystopian on the surface. No doubt at all about the purpose. Now he’s pretending to be concerned that some “scammers” are hijacking his scam for unlicensed scams. BlockBeats, a Chinese news site, said in tweets posted earlier today that people…
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Bitgosbank?
Via Protos: Texas has passed a law requiring bitcoin “banks” to be proper FULL-RESERVE banks. No fractional reserve. Even better, bitcoin “banks” must follow the old 1936 banking laws, keeping their customer deposit business strictly separate from trading and speculating. Glass-Steagall prevented serious bank failures when it was in place. The current mess began when…
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Speaking of delusional demons…
Sam Altman, the supermonstrous demon who is stealing all jobs and all skills through ChatGPT and Dall-E, is starting up a new world-destroying syndicate. He wants to own all of our eyeball identifying data, and he is paying with Magic Money Dust. So far this crime syndicate isn’t gaining nearly as much traction as the…
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Wonderful concept!
John Herrmann describes most of the tech tyranny as executive fantasies. = = = = = START QUOTE: Changing Facebook’s name to Meta was a bold attempt not just to rebrand a company but to set an industry agenda, and while it ultimately failed, it sort of worked, for a while. One question worth dwelling…
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Gold rush observation
I’m sure somebody has made this observation before, probably Sailer, the true expert on California. Levis is happily “leaning into” the ESG craze of advertising solely for trannies. Unlike Budweiser, they’re making the right lean, and will be rewarded. Levis has been haute couture for a LONG time. Their loyal customers are haute couture. Levis…
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Bud solves its problem
Trouble with real humans in the physical world? Move to the metaverse where you can simply delete all uncool customers! This creature is a Grandmaster of NFT/Web3/Metaverse bafflegab. “We won’t know what the consumer wants until we get more data on the blockchain.” Hmm. Seems to me that your REAL ledgers, your REAL spreadsheets of…
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More consequences of QT
Half-baked thought, continuing along the lines of WHERE ARE THE GODDAMN PHILOSOPHERS? Now that the free money of QE/ZIRP has dried up, many pointless projects and pointless IPOs are going away, starting with the huge totally pointless project of bitcoin. Corporations are suddenly realizing that they need customers. Free-money woke idiocy doesn’t work any more,…
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Acolytes
Taibbi is ignorant, or more likely memoryholish, about the real history of Deepstate and censorship. Taibbi’s acolytes carry on the same fine tradition. A ‘guest article’ by Andrew Lowenthal complains about the modern “unprecedented” mixing of Deepstate and progressives: Twitter emails show consistent collaboration between military and intelligence officials and elite “progressives” from NGOs and…
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Why don’t we act on this knowledge?
Listening to some coverage of the congressional noisefest about bitcoin. They’re arguing about details of ‘stablecoins’. All of this regulation is misplaced. Bitcoin is not a form of currency or banking, it’s a form of ENTERTAINMENT. It’s like casinos or fraternities or city social clubs for aristocrats. It’s not nearly as entertaining as movies or…
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Checking the source 3
Several months ago I read most of the bitcoin C++ code. I wasn’t trying to suss out the plot, just reading for dialect and stage directions. Those are thoroughly familiar, so the author must have picked up programming the same way I did, by absorption and experience, not by Computer Science training. Now, motivated by…
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Orphan
Not especially important, just an absolutely perfect instance of the old joke about chutzpah. = = = = = START QUOTE: Fowler pled guilty to numerous counts of bank fraud, wire fraud, and operating an unlicensed money transmitter last April. A previous set of lawyers withdrew from representing him in November due to unpaid bills…
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I shouldn’t even try
Discussions of Sammy’s rise and fall repeatedly hit a point that I can’t grasp. Supposedly Sammy was a hypnotic figure. Supposedly he had a magnetic appeal to everyone he met. I don’t get it. I can sort of see the appeal of Elizabeth Holmes. She’s pretty and lively and radiates a sense of mission and…
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Sucker filter fails!
When an extreme Sucker Filter fails, it’s a sign that the suckers have left the table. Via Protos, four of the Big Names in bitcoin crime tried to start up a new “exchange” specializing in securitized bankruptcy claims from other failed bitcoin crimes. This is like viaticals, securitized pre-bets on life insurance. Blood money. Just…
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