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The NSA Worked to ‘Track Down’ Bitcoin Users, Snowden Documents Reveal
Illustration: Tyler Comrie for The Intercept THE NSA WORKED TO “TRACK DOWN” BITCOIN USERS, SNOWDEN DOCUMENTS REVEAL INTERNET PARANOIACS DRAWN to bitcoin have long indulged fantasies of American spies subverting the booming, controversial digital currency. Increasingly popular among get-rich-quick speculators, bitcoin started out as a high-minded project to make financial transactions public and mathematically verifiable — while […]
Sucker Traps and the Arithmetic of Risk
Sucker Traps and the Arithmetic of Risk John Hussman has another excellent article out this week but it will be ignored. Mathematically, it must be ignored. In the Arithmetic of Risk, Hussman posted the above chart. I added the anecdotes regarding where we are. Here are some pertinent snips. At present, I view the market […]
A Modest Plan
A Modest Plan Rembrandt van Rijn The Storm on the Sea of Galilee 1633 On March 18, 1990, the painting was stolen by thieves disguised as police officers. They broke into the Isabella Stewart Gardener Museum in Boston, MA, and stole this painting, along with 12 other works. The paintings have never been recovered, and […]
The energy of Bitcoin, the information economy and the (possible) decentralization of the world
The energy of Bitcoin, the information economy and the (possible) decentralization of the world The near vertical rise and fall in price of the cryptocurrency Bitcoin in recent months has been accompanied by reporting about the energy used to run the Bitcoin network. The amount is enormous, more than enough to supply the entire country […]
Bitcoin isn’t the bubble — the global financial system is
Bitcoin isn’t the bubble — the global financial system is © Getty Images Pretty much every article you read about bitcoin in the mainstream press ends up in the same place. You may not hear it until the seventh or eighth paragraph, but eventually you’ll be told that the whole thing is nothing more than […]
2017 Year In Review
Tortoon/Shutterstock 2017 Year In Review Markets fiddle while Rome burns Every year, friend-of-the-site David Collum writes a detailed “Year in Review” synopsis full of keen perspective and plenty of wit. This year’s is no exception. As with past years, he has graciously selected PeakProsperity.com as the site where it will be published in full. It’s quite longer than […]
And You Thought Bitcoin Was Volatile…
And You Thought Bitcoin Was Volatile… If you are one of those people living in the Northeast who likes to keep their home temperature above freezing and waking up without frostbite, we have some bad news… Another sudden bout of cold weather and LNG prices are soaring more than the seasonal norm. Your heating bill […]
Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin
Three Delusions: Paper Wealth, a Booming Economy, and Bitcoin Let us not, in the pride of our superior knowledge, turn with contempt from the follies of our predecessors. The study of the errors into which great minds have fallen in the pursuit of truth can never be uninstructive.” – Charles Mackay Extraordinary Popular Delusions and […]
“This is Groundhog Day”: Spanish Stocks Battered By Catalan Vote, Bitcoin Crashes
“This is Groundhog Day”: Spanish Stocks Battered By Catalan Vote, Bitcoin Crashes Spanish stocks and the euro fell, while Spanish government bond yields hit their highest levels in over a month after Catalan secessionists delivered an unexpected blow to the government of Spanish PM Rajoy by winning the Catalan regional election. Meanwhile across the Atlantic, […]
Peter Schiff: Bitcoin Heading To $0, Many Bitcoin Investors Will Lose EVERYTHING
Peter Schiff: Bitcoin Heading To $0, Many Bitcoin Investors Will Lose EVERYTHING Investor Peter Schiff is warning once again about Bitcoin’s massive speculative bubble. Schiff, who is well-known for predicting the 2008 financial crash, is saying it’s those who are buying in now will be the most vulnerable when Bitcoin hits $0. “People who got […]
Big Banks Are All Over Blockchain
Big Banks Are All Over Blockchain To process derivatives, currency trades, transactions, etc. Just don’t call it cryptocurrency. It’s a “digital currency.” As a general rule, most bankers disparage cryptocurrencies, like Bitcoin, as anything but purely speculative instruments. But they don’t disparage blockchain, the technology that underpins cryptocurrencies. On the contrary. They’re pouring money into […]
Gold Only Safe Asset Left – David Stockman
Gold Only Safe Asset Left – David Stockman Record high stock and bond prices are flashing danger signs to former Reagan White House Budget Director David Stockman. Stockman contends, “I don’t think we are going to have a liquidity crisis. I think it’s going to be a value reset. I think there is going to […]
