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Fed Official Decries Bitcoin as “Not Backed”
Fed Official Decries Bitcoin as “Not Backed” Bitcoin is backed by the use value of the distributed ledger in the underlying technology of the Blockchain. Randal K. Quarles, a Trump administration appointee to the Federal Reserve Board of Governors and Vice Chair for bank supervision, has given a lengthy speech (“Thoughts on Prudent Innovation in […]
Bitcoin, Terence McKenna and the Future of the Internet
Bitcoin, Terence McKenna and the Future of the Internet We have millions of people who are warehoused in almost a larval state in their apartments, watching tv, paying for their medical plans, and glued to this mindless opera of cultural decay that’s recited day after day in front of them. I mean, it’s horrible to […]
The Asymmetry of Bubbles: the Status Quo and Bitcoin
The Asymmetry of Bubbles: the Status Quo and Bitcoin Shall we compare the damage that will be done when all these bubbles pop? Regardless of one’s own views about bitcoin/cryptocurrency, what is truly remarkable is the asymmetry that is applied to questioning the status quo and bitcoin. As I noted yesterday, everyone seems just fine […]
Did Anyone Do Even a Minimal Check on the Sensationalist Bitcoin Electrical Consumption Story?
Did Anyone Do Even a Minimal Check on the Sensationalist Bitcoin Electrical Consumption Story? Check the context before uncritically accepting sensationalist conclusions. Let’s start with a primer on how to write a sensationalist story that can be passed off as “journalism:” 1. Locate credible-sounding data that can be de-contextualized, i.e. sensationalized. 2. Present the data […]
Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa
Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa The map above shows which countries consume less electricity than the amount consumed by global bitcoin miningBitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s […]
The Generational Wheels Are Turning
The Generational Wheels Are Turning “The electric light did not come from the continuous improvement of candles.” — Oren Harari If you only read my stuff sporadically, you might be surprised to hear that I’m actually quite optimistic about the future. The main reason I compose articles highlighting all the frauds, corruption and absence of ethics […]
How to Protect Yourself Online, No Matter Your Security Needs
How to Protect Yourself Online, No Matter Your Security Needs Find a balance between security and convenience that is appropriate for your life. Almost every week, it seems that there is some kind of major security breach. Whether celebrity nudes, the social security numbers of the majority of Americans, or a Bitcoin heist, it seems […]
Stagnation Nation: Middle Class Wealth Is Locked Up in Housing and Retirement Funds
Stagnation Nation: Middle Class Wealth Is Locked Up in Housing and Retirement Funds The majority of middle class wealth is locked up in unproductive assets or assets that only become available upon retirement or death. One of my points in Why Governments Will Not Ban Bitcoin was to highlight how few families had the financial […]
Bitcoin: A Tower of Monetary Babel
Bitcoin: A Tower of Monetary Babel The promoters of crypto currencies have gushingly touted them as the mechanism by which the present central banking cabal and the system of nation states which derive much of their power from will be brought down and replaced by digital money. Despite their meteoric rise as speculative “assets,” there are […]
The Coming One-World Currency
The Coming One-World Currency QUESTION: Bitcoin + Cryptocurrencies Firstly, thank you – I’ve learned more from your blog and models that high-school would ever have hoped to teach me. And even after a year I am a still at the start-line of knowledge. I am also been a follower and investor/gambler on crypto for over […]
Yahoo Hacking Highlights Cyber Risk and Increasing Importance of Physical Gold
Yahoo Hacking Highlights Cyber Risk and Increasing Importance of Physical Gold – Yahoo admits every single one of 3 billion accounts hacked in 2013 data theft – Equifax hacking and security breach exposes half of the U.S. population – Some 143 million people vulnerable to identity theft – Deloitte hack compromised sensitive emails and client […]
IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency
IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency In a remarkably frank talk at a Bank of England conference, the Managing Director of the International Monetary Fund has speculated that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge […]
Just Because the Hedge Fund Wise Guys Have Forgotten
JUST BECAUSE THE HEDGE FUND WISE GUYS HAVE FORGOTTEN Today’s post will be about Japanese yen vol, but I am sure to bore some readers with that topic, so I am starting with something a little more interesting. As many of you know, I am a little bit of a bitcoin skeptic. At the end […]
