Tag: Bitcoin
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Gotcha.
Sam was arrested yesterday by the authorities in the Bahamas. Lesson: When your criminal syndicate depends on currying the favor of demons who are BIGGER THAN YOU and MORE EXPERIENCED AT THE DEMON GAME, you shouldn’t go around taunting the demons. His accomplice Caroline played a smarter game by turning snitch against Sam. Musical accompaniment.
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Another waste of talent
Skimming through the thousands of updates on nonsense projects like NFT and DAO, I’m struck by another waste. The waste of tech skill is obvious to a nerd like me, but I was slow to notice the waste of sales skill. Every one of these offers is creatively persuasive, putting together nonsense buzzwords in a…
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Not dumb
For contrast, one of the anticoin redditors is brilliantly comparing the Madoff “fraud” with the Bankman-Fried fraud. He found an old government press release from the task force assigned to undo Madoff’s mess. The government managed to refund 88% of the losses. This means that Madoff and his partners OWNED most of the money needed…
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Not a horseshoe
Many of the bitcoin commentators are trying to place the Effective Altruism types (eg the FTX boys) and the alt-white types (eg the Unz boys) at opposite ends of a spectrum. They’re not opposite at all, not even in the wraparound ‘horseshoe graph’ sense. They’re identical with slightly different labeling. Both groups are cullers. They…
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Would be a nice experiment
Thinking about hucksters who formerly needed to “demonstrate” their systems and machines. Here’s a pretty good modern demo for bitcoin. A sort of Tide Pod Challenge. Nocoiner and Procoiner are on Zoom. Nocoiner challenges Procoiner to a race. Each of us will pick a song on Spotify. After we pick, we’ll show them on Zoom…
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Two Matts
Nice clean comparison between two major Substack writers doing similar exposures. = = = = = Matt Taibbi has pulled together some internal emails from Twitter ex-employees, showing how Twitter favored D over R. This is not SHANNON INFORMATION because anyone can see that Twitter is pure D. This is also meaningless information because it’s…
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Sharp distinction
Sharp observation from Matt Levine at Bloomberg. It’s hard to feel bad for bitcoin “victims”. Semiquoting: 1. Bitcoin requires a tremendous amount of knowledge and familiarity to make any transactions at all. 2. After you’re thoroughly immersed in the reddits and discords and systems needed to understand just one transaction, you ALSO see constant reports…
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Launderette
Protos writes up a peculiar story about a tiny bank in a Palouse town that ended up as a node in Bankman-Fried’s crime syndicate. Farmington is a typical leftover small town between Spokane and Pullman. It briefly flourished as a rail terminal, then faded down to the magic number of 150. The Farmington Bank remained…
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Thankful for?
This year I can finally see one point of gratitude. QT. Jerome Powell at the central bank is RESOLUTELY turning away from infinite counterfeit and infinite debt. He can’t solve the problems that began before 2008, but he is QUICKLY solving all the shit that started in 2008, including social media, tech craziness, bitcoin, and…
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More wasted energy
Rehashing from a few weeks ago: = = = = = START REHASH: What the world needs now is NOT love, sweet or otherwise. The real tragedy of the bitcoin/NFT/DAO crap is identical to the real tragedy of the hippie crap. Both were motivated by youthful idealism, and both ruthlessly exploited the idealism to gain…
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Mark of aristocracy
The Buttcoin reddit notices a year-old picture of Bankman-Fried speaking to his political slaves in a congressional meeting. His shoelaces are weirdly tangled up, just barely making it through the holes. He responded to the earlier twitter thread by saying that the shoes “came that way”. Well, okay. Shoes do sometimes come with the laces…
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Penthouse > basement
Via Reuters: Bankman-Fried’s luxury party pad / office / crackhouse was bought by his parents two years ago. The best way to get rich is to choose rich parents. Overall I’m tired of the mommy’s basement shit. It’s used as an insult against poor people but never hurled against rich fuckheads. Through most of history,…
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Aqua regia
Tablet mag has an interview with Edward Luttwak, a classic galaxy-brain bully. He’s a HARDASS realist about everything from politics to fighting to smoking. And he firmly believes in bitcoin. Yes, my son has made me a believer in the almighty blockchain. It creates an irrevocable past. A tweet is a blockchain of statements. Before…
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Stop the goddamn fake surprise.
The latest official line about Bankman-Fried is the old “Nobody expected!” “Missed warning signs!” Raw ratshit. The regulators and political operators knew full well what Sam was doing. Many of them were in constant contact with him, and he certainly wasn’t shy about stating openly and clearly what he was doing. He said “I AM…
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Somebody finally gets it!
Finally some belated SENSE from the establishment stock-scammers at Financial Times. Actively intervening would convey undeserved legitimacy upon a system that does little to support real economic activity. It also would provide an official seal of approval to a system that currently poses no threat to financial stability and would lead to calls for public…
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