Tag: Bitcoin
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Smooth doubleclutch
Looks like the bitcoin game is in the mopup stage. After chipping away all the supporting players, the regulators finally went after Binance, the main engine of bitcoin. Like GM, Binance has been buying up and knocking down its competitors for many years. Time for an upshift in the killcount. The next gear is AI,…
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Bond gender
We’re confused about bonds in the same way that we’re confused about gender. A bond is a contract with a specific time interval. You buy it, let the seller use your money for a specific time, and expect a periodic rental fee from the seller. At the end of the fixed time interval you sell…
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Leave the gangstering to gangsters.
Via Daily Mail. Aiden Pleterski, a Canadian bitcoin swindler, supposedly made the mistake of swindling the wrong people who then supposedly kidnapped and tortured him. This part of the story might be real but sounds more like a publicity stunt. Unsupposedly he was running an especially stupid Ponzi. He didn’t bother to pay back the…
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Bitcoin = pot.
3/19 was my jail anniversary, so I was thinking about the process as usual. New click: The bitcoin movement of this decade is IDENTICAL to the hippie movement of the ’60s. High-status influencers advertise the stuff and sell the stuff under CIA auspices, while pretending to be against the government. Alienated youngsters buy the stuff,…
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Itchy
The semi-prosecution of celebrity bitcoin influencers bothers me. There’s nothing new about celebrity endorsers who know absolutely nothing about the product they endorse. Their managers and agents make the arrangements, and the celebrities just read the script like any movie or show. Punishing an action that was effectively legal at the time of the endorsement…
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Speaking of
Speaking of physically impossible goals and physically impossible all-debt “banking”, I connected these nicely in 2019. = = = = = START FUCKING REPRINT: Last month I thoroughly EXPLODED the blasphemous “green” “new” “deal”, ending with the FACT that the real purpose was the “new forms of financing”, in other words MMT. Now the purpose…
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Templargraph
I was looking for info on an interesting story told by Ripley, and ran into this instead… The Knights Templar used hawala-style full reserve banking to finance Crusades and pilgrimages. A pilgrim could leave his cash at Temple Church in London, and withdraw it in Jerusalem. Instead of carrying money, he would carry a letter…
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I can see it now…
The Ankler is discussing the bank runs as a future movie….. I can see it now. It’s an Effective Life. Sammy as George Bailey. Caroline as Marian the Librarian. William MacAskill as Oddbody. Powell as the bartender: “This is a HARD BANK. We serve HARD MONEY to HARD MEN. We don’t want no Bitcoin Twinkies…
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Beautiful! More, please!
Another fuckhead bank goes DOWN IN FLAMES! Silicon Valley Bank branch in Manhattan today called the cops on tech investors trying to pull their cash out as a run on the bank forced regulators to seize its assets. Police were called after ‘about a dozen’ financiers, including former Lyft executive Dor Levi, showed up outside…
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FDIC to Bitcoin: Drop Dead!
This is breaking news. I included it as an update to last week’s ramble about Silvergate, but this deserves immediate mention and an irresistible headline. Silvergate, the main real bank supporting the fake foundation of bitcoin, was collapsing. Earlier today it tried to imitate Goldman, begging FDIC for a bailout. Now FDIC has told Silvergate…
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Two definitions
The story of Silvergate Bank is a tale of two definitions. Silvergate started out as one of the very few modern banks… maybe the ONLY modern bank… that followed the CORRECT definition of a savings bank. They failed because they tried to follow the CORRECT definition of a bond in a world where everyone else…
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Close but no FET
Pointed via UncommonDescent, this article by Tomasz Durakiewicz is on the side of the angels but misidentifies some earlier demons as angels. In a 1675 letter to Robert Hooke, Isaac Newton wrote the famous phrase “If I have seen further it is by standing on the shoulders of Giants.” Newton paraphrased earlier uses of that…
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Shannon about Buffett
Most published comments about Buffett or by Buffett are tautologous and non-Shannon. No information. OF COURSE you do better when you find the right stuff and stick with it. If you don’t understand this point you’re too dumb to breathe. If it ain’t broke don’t fix it is the hallmark of CIVILIZATION. Innovative Disruption is…
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Mismeasure
Continuing from the bank comparison in Math is Pope. It would be better to say that bitcoiners blindly trust arithmetic, not math. They don’t understand how numbers are used and misused, in real measurement or in programming. When comparing their Holy Grail with the Horrible Establishment, they blindly use the fake numbers provided by the…
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Catching onto the magsman
Liron Shapira is puzzled by Balaji, the top galaxybrain bully. Balaji isn’t a mystery, he’s a classic conman type. I’ve mentioned him in two different references. Now that I look at both together, I realize they’re both British and both from the same decade. (1) Definition from the 1874 dictionary of British slang: Magsman, a…
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