Tag: Bitcoin
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Doesn’t hit the main point
A bitcoin lover interviews a bitcoin realist. Kudos to both of them for conducting a civil and informative interview. Important question around minute 12: No, there’s nothing interesting at the core. There’s no “technology” at the core. It’s just an array, which is a universal part of every computer program. The bitcoin array is an…
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Hmm…
Interesting admission in CoinDesk’s live coverage of the Sammy trial and other bitcoin-related events. A lobbyist who helps bitcoin companies deal with regulation said: The regulators have shut down the major banks who served the crypto industry, and placed strong restrictions on other banks. If you can’t work with a bank you can’t succeed in…
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Just curious
I noted in reports about Sammy’s trial that Programmer Wang used the Py randomizer to generate the official daily trading volume. As an old Pythoner I was curious to see what was happening. Here’s the trick as shown and analyzed by BitMEX. The code is dense and “one-liner” to make it harder to read, unlike…
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Blood is thicker
Michael Lewis’s defense of Sammy is so obviously bizarre that even Saagar and Krystal could see it! One of the commenters hits an important point: If SBF was a Nigerian scammer, I’m certain Michael Lewis would have a drastically different take. He’s not the only one who still defended SBF. These people saw him like…
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Wrong foot
The prosecution in Sammy’s trial started out with an immediate error. Their first witness was a commodities trader specializing in cocoa beans. He put 100k into Sammy’s swindle and then was SHOCKEDSHOCKEDSHOCKED that the 100k disappeared. This plays right into the defense argument that the suckers should have known better. The argument isn’t valid for…
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As predicted
A year ago I noted that Michael Lewis was writing a book on Sammy. = = = = = START REPRINT: Lewis is famous for The Big Short about the 2008 “crisis”, and he also wrote a disgusting celebration of the 2020 “virus” genocide, hymning the godlike virtues of Demon Fauci and Demon Mecher. Ankler…
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Metawait 2
I’m deeply enjoying the failure of bitcoin. Fine vintage Schadenfreude**. One of the podcasters mentioned that mining one Bitcoin now costs $45k, but the coin only sells for $26k, with no hope of ever rising again to a profitable level. Wait! Why didn’t I think of this before? Nvidia makes the processors that grind up…
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Metawait!
Listening as usual to old FBI radio shows in my bedtime playlist, grumping as usual about the audacious fakery of the stories. At one point near the end, Special Agent Taylor always slaps his forehead. “Wait! Why didn’t I think of this before? Let’s check those phone records again.” The real FBI never realizes things…
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Makes sense
Sammy’s trial will begin next week. Bloomberg’s pregame analysis says that a jury will be easy enough to select. Makes sense. The bitcoin fraud seems HUGE to a techie type like me, but it never involved a large part of the population and didn’t gather much mainstream media coverage until last year. Sammy’s fraud was…
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Breaking a taboo
In this clip Vivek is discussing bitcoin with an old friend, not a random interviewer. His casual demeanor is appropriate for the situation. (Normally Vivek is fully suited up.) What Vivek is SAYING is orthodox techie talk, not unusual. What he’s DOING is more interesting. He’s drawing diagrams and using them to illustrate his points.…
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Are they also pissed?
Sammy’s continued antics are irrelevant but entertaining in a schadenfreudisch way. The whole bitcoin crime is only entertainment now that QE/ZIRP is done. JUDGE Kaplan has finally started being a JUDGE, so Sammy is finally getting a taste of what he deserves. His latest spoiled-brat routine is even spoileder than before. = = = =…
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Reprint on Pluponents
Linked in previous item, worth a reprint. = = = = = START 2017 REPRINT: I tried briefly to follow this article on MMT. Gave up quickly. It’s EXTREMELY abstract and academic, full of name-droppings only familiar to members of the same subsubsubsubdiscipline, written by a creature whose academic title is longer than most articles.…
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An eye for an eye,
a decimal point for a decimal point. Via Protos: The founder of collapsed Turkish crypto exchange Thodex, Farouk Fatih Özer, has been sentenced to 11,196 years, 10 months, and 15 days in prison. Perfect. You want to create an autistic fraud and an autistic dystopia? We’ll give you an autistic punishment. A wildly unrealistic HUGE…
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Cold and alien
Bloomberg interviews financial writer Matt Levine. He’s discussing his columns that treat every fad as a type of fraud. Repeatedly and consistently, for every topic from bitcoin to vintage cars, he said “I don’t find this particularly interesting.” The interviewers didn’t seem to notice the consistency. Well then, why are you writing about it? Purely…
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