Sounds a little too much like this for me.

 

Sounds a little too much like this for me.

200X return isn't for everyone.

 

200X return isn't for everyone.

Is your entire retirement fund invested in it? I'm a gambler too, so I do understand the thrill with money you can afford to lose.

 

Is your entire retirement fund invested in it? I'm a gambler too, so I do understand the thrill with money you can afford to lose.

Less than 0.1%. Totally for fun and education. Gains, if they hold, are enough to pay for this year's vacations though. So that'll be a fun way to think about it as we're out on the road, dog money paying our way.

 

 

To the MOON!! (By way of a massive dip immediately after.)

Or,
https://www.fool.com/investing/2021/05/09/dogecoin-classic-pump-and-dump-stocks-smarter-buys/

Dogecoin Is a Classic Pump-and-Dump Scheme

 

https://www.reuters.com/technology/...-lawsuit-over-57-bln-bitcoin-haul-2021-05-12/

An Australian computer scientist who alleges he created bitcoin has launched a London High Court lawsuit against 16 software developers in an effort to secure bitcoin worth around 4 billion pounds ($5.7 billion) he says he owns.

In a case that was promptly labelled "bogus" by one defendant, Craig Wright is demanding that developers allow him to retrieve around 111,000 bitcoin held at two digital addresses that he does not have private keys for.

In his second London lawsuit in three weeks, Wright alleges he lost the encrypted keys when his home computer network was hacked in February 2020. Police are investigating.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3203198

This chapter addresses the myth of decentralized governance of public blockchains, arguing that certain people who create, operate, or reshape them function much like fiduciaries of those who rely on these powerful data structures. Explicating the crucial functions that leading software developers perform, the chapter compares the role to Tamar Frankel’s conception of a fiduciary, and finds much in common, as users of these technologies place extreme trust in the leading developers to be both competent and loyal (ie, to be free of conflicts of interest). The chapter then frames the cost-benefit analysis necessary to evaluate whether, on balance, it is a good idea to treat these parties as fiduciaries, and outlines key questions needed to flesh out the fiduciary categorization. For example, which software developers are influential enough to resemble fiduciaries? Are all users of a blockchain ‘entrustors’ of the fiduciaries who operate the blockchain, or only a subset of those who rely on the blockchain? Finally, the chapter concludes with reflections on the broader implications of treating software developers as fiduciaries, given the existing accountability paradigm that largely shields software developers from liability for the code they create.

Cracking the Crypto.

 

https://www.protocol.com/bulletins/elon-musk-tesla-bitcoin

Elon Musk says Tesla has ended car purchases with Bitcoin

https://www.cnbc.com/2021/05/13/bit...er-tesla-stops-car-purchases-with-crypto.html

As much as $365 billion wiped off cryptocurrency market after Tesla stops car purchases with bitcoin

 

Wild times on the Crypto market.

https://www.cnn.com/2021/05/19/investing/bitcoin-price-drop-china-crypto-intl-hnk/index.html

 

Wild times on the Crypto market.

Good opportunity to buy.

 

Good opportunity to buy.

Insufficient blood on the streets yet. The Chinese control Bitcoin. If the Chinese decide to kill Bitcoin internally (make it illegal to hold in China) the ripple effects will be massive.

 

Worse Bitcoin trade ever.
Bitcoin pizza day? Laszlo Hanyecz spent $3.8 billion on pizzas in the summer of 2010 using the novel crypto


https://www.businessinsider.com/nat...-celebrated-crypto-laszlo-hanyecz-fans-2021-5

Happy Bitcoin Pizza Day!

Exactly 11 years ago today, a software programmer from Florida, Laszlo Hanyecz, became well known in the crypto world after trading 10,000 bitcoins for two Papa John's pizzas. In honor of that purchase, the date is now celebrated in the crypto calendar as Bitcoin Pizza Day.

 

https://arstechnica.com/tech-policy/2021/05/china-advances-its-war-on-bitcoin-cracks-down-on-mining/

Bitcoin took investors on another rollercoaster ride over the weekend after a top regulator in China announced a crackdown on mining, a new tack in the country’s ongoing fight against the cryptocurrency.

The government will “crack down on bitcoin mining and trading behavior and resolutely prevent the transfer of individual risks to the society,” said the statement, which was issued by the Financial Stability and Development Committee of the State Council, the country’s cabinet equivalent. The committee is chaired by Vice Premier Liu He, who acts as President Xi Jinping’s top representative on economic and financial matters.

 

https://arstechnica.com/tech-policy/2021/05/china-advances-its-war-on-bitcoin-cracks-down-on-mining/

I don't understand why this concerns people. Personally, I'd be happy to see the proportion of the hashing power more evenly distributed across the world.

 

I don't understand why this concerns people. Personally, I'd be happy to see the proportion of the hashing power more evenly distributed across the world.

I'd rather see hashing power reduced to a lowest amount possible instead of being wasted on generating electronic trading trinkets. A move from China to some other third-word despotic country will actually increase the horrible environmental effects of Bitcoin power usage. The Chinese have wisely chosen to boot those leaches off their soil.

https://www.nature.com/articles/s41467-021-22256-3.pdf

 

. . . the horrible environmental effects of Bitcoin power usage.

As compared to what?

https://www.nasdaq.com/articles/a-c...pact-with-that-of-gold-and-banking-2021-05-04

 

As compared to what?

https://www.nasdaq.com/articles/a-c...pact-with-that-of-gold-and-banking-2021-05-04

So you can find a Bitcoin Evangelist that can cook numbers too.
Those things are actually useful to daily society. Bitcoin is not. The elimination of most of the products (specifically gold as a unique element) and services listed in that link would have a measurable undesirable effect on human civilization. The elimination of Bitcoin would only have a measurable undesirable effect on the 'hodlers' as it provides no unique product or services other than a possible illicit trade conduit for things like ransomware.

 

So you can find a Bitcoin Evangelist that can cook numbers too.
Those things are actually useful to daily society. Bitcoin is not. The elimination of most of the products (specifically gold as a unique element) and services listed in that link would have a measurable undesirable effect on human civilization. The elimination of Bitcoin would only have a measurable undesirable effect on the 'hodlers' as it provides no unique product or services other than a possible conduit for illicit trade for things like ransomware.

An open source, decentralized, peer-to-peer bank is not a unique service? A perfectly fungible, easily liquid, easily transferable, anti-inflationary, secure store of value is not a unique product?

As for its usefulness to daily society right now, well, humans have a funny way of not seeing the obviousness of the future until it becomes the present. Like the internet itself, one day Bitcoin will evoke a "duh, of course" response.

 

I don't understand why this concerns people. Personally, I'd be happy to see the proportion of the hashing power more evenly distributed across the world.

The real problem with these cryptosystems is that they derive all of their value from WORK performed and thus ENERGY consumed. Which in turn leads to ever-rising energy prices. Once that skyrockets out of control electrical resources may become so scarce that people will struggle just to keep the lights on. ("Can you spare a watt Brother?")

The obvious solution is to eliminate work-based schemes altogether. Proof of stake systems don't make money out of the thin air blowing out of a CPU fan as Bitcoin does. They don't require lots of energy and therefore much better for society as a whole.

 

An open source, decentralized, peer-to-peer bank is not a unique service? A perfectly fungible, easily liquid, easily transferable, anti-inflationary, secure store of value is not a unique product?

As for its usefulness to daily society right now, well, humans have a funny way of not seeing the obviousness of the future until it becomes the present. Like the internet itself, one day Bitcoin will evoke a "duh, of course" response.

No, it's not really any of those things except being open source (I've run a locally compiled Bitcoin node for at least 10 years). It's not decentralized today, any sort of bank and so far the listed product features are fan fantasies. The value of Bitcoin is in the collectibles value. There will be a future of digital cash with actual banking and useful features, the odds of that being based on the current Bitcoin blockchain processing system is low IMO.