Tag: Bitcoin
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Same line, different sides
Pithy from Kirn: If you want to distinguish your behavior from that of an AI, make it super robotic and below-average all the time. The AI right now is all hung up on seeming authentic and smart. Reminds me immediately of a much older situation where the human vs machine line was drawn along the…
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Bureaucratic genes and epigenes
I read and understood Parkinson 50 years ago, and haven’t yet seen any contrary evidence. In fact the real situation is vastly worse now than when he was writing. My usual question is: Given that criminal agencies and organizations CAN’T AND WON’T be deleted, how do we set up competing forces? My usual answer is…
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Launderette 2
Following from previous item, because the story is sort of local. The bank in Farmington was a ‘family office’ for local prosperous farmers. It was bought in the 1990s by a Hong Kong millionaire who might have been using it for money laundering; we don’t know that part of the story. We do know that…
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Seems like a mismatch
The bitcoin scammers are still running at full speed with no obvious change or decline in their strategy, despite constant public news that the entire criminal enterprise is collapsing from lack of free QE and also being taken down by regulators. Medium is still packed with obvious MLM crap like this: We now proudly announce…
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Viaticals of bitcoin
Everything is securitized now. This dude is proudly offering to securitize bankruptcy claims resulting from FTX, Three Arrows, Celsius, etc. Reminds me of viaticals: With a viatical settlement, you purchase the policy (or part of it) at a price that is less than the death benefit of the policy. When the seller dies, you collect…
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Sharp observation
One of the anticoin Redditors sees the early signs of a switchover. So apparently personal finance YouTubers/Influencers are now doing AI-related schemes/scams where supposedly this magical AI software can predict which stocks will be best. If NFTs and high yield accounts are what sparked the 2020/2021 bubble, I’m guessing that something related to AI could…
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Rats leave sunk ship
Protos continues to track a semi-local connection to the Sammy story: Moonstone Bank chief legal officer Joseph Vincent, a former top banking regulator, has left the financial firm, after being with the bank for just eight months. Vincent joined Moonstone, one of the smallest banks in the country, which gained national attention late last year…
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Another bitcoin metaphor
I’ve already tried a mathematical analogy for bitcoin, as a robotic abacus. Then I tried an office equipment analogy, as a super-expensive rare precious file folder. Since I was admiring elegant old cars a few days ago, how about an automotive analogy? Well, blockchain is just a simple ordinary array, nothing fancy, EXCEPT that it…
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Literal
I misuse Dillinger’s Law often in a generic or metaphorical way. Why X? Because X is where the money is. Bankman-Fried’s push to regulate and legitimize bitcoin was a precisely literal case of Dillinger. Sam wanted to make his fraud a legal part of the financial system so he could rob banks. = = =…
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Mister Restitution speaks
Yahoo Finance is interviewing Kenneth Feinberg, The Restitution Man. He knows better than anyone else how to distribute the assets from complex semi-criminal enterprises. He brings out a basic fact: Many of Sammy’s creditors are criminals who knew they were laundering criminal money. He doesn’t quite hit the exact analogy. Bitcoin is counterfeit. Bitcoin was…
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Getters again
Earlier I diagnosed APs and fake movements by their focus on relatively trivial problems. A more refined version is appearing in two current movements. It’s the old getter or sacrificial lamb routine. In the movement against the “virus” holocaust, most of the activists started out opposing the entire demonic monstrosity. After RFK Jr got into…
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Gangsters take care of their own
Sammy has been released on bail IN THE CUSTODY OF HIS PARENTS. This is like releasing Thomas Gambino to the custody of Carlo. Looking up more about Thomas, the parallel is strong. Thomas played the Effective Altruism game to the hilt. Got a college education and engaged in massive “philanthropy” while stealing and killing. =…
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Hypothesis
Wolf does his usual excellent graph and excellent explanation on the bankruptcy of a bitcoin “mining” company. The graphs for SPACs and IPOs are so consistent that they suggest a hypothesis. IPO = LBO. The usual myth tells us that an IPO is designed to provide capital for a company to grow. The graphs tell…
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Terse
From Reddit: a simple and terse and elegant description of the entire blockchain enterprise. Would taking crypto out of your “product” change the product any more than taking the stone out of the stone soup? Says it all. = = = = = The same model applies to our fake emergencies and panics as well…
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Real Shannon
I think I’ve written this before, but I feel like doing it again. The sudden switch from free money to tight money, Share Value to profit, QE to QT, must have been a genuine Shannon event. Fully unexpected, not telegraphed or predictable in advance. It caught lots of corporations and Experts and Influencers off guard,…
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