News: 1bn Tethers, NiceHash return, India, buying Bitcoin, FCA, Lightning Network, book news

  • Over one billion Tethers served! Hopefully every one of those Tethers is backed by a redeemable US dollar, as they state.



  • A reporter tries buying Bitcoin. “When I first purchased bitcoin through the app Coinbase, my bank thought it was fraud and froze my account.” He compares it to a roulette wheel: “It probably provides the same rush of adrenaline that a craps table in Vegas might provide, but it’s too risky for me.”
  • Andrew Bailey, head of the UK’s Financial Conduct Authority, warns Bitcoin buyers: Be ready to lose all your money. “Buying Bitcoin, he said, was similar to gambling — and had the same level of risk.” If you’re reading this blog you might think this obvious, but …


  • A Bitcoin enthusiast posted to Reddit /r/bitcoin recently, claiming to be an economist who just happened to think Bitcoin was awesome in every way. His post was upvoted sufficiently to make it to /r/all, whereupon an actual economist responded. The enthusiast replaced the post with lorem ipsum before deleting both it and his account — but our robot overlords were on the job, preserving the exchange for posterity.
  • Even the stalwart no-nocoiners of /r/bitcoin, when they see the Lightning Network’s promotional material, look at this convoluted garbage and go “what on earth, that can’t possibly work economically.” They probably just need to “hit Google” or “do their own research” or “try harder.”
  • In fairness, I have asked directly: Are there any official or semi-official plans for what the network is expected to look like?



Book news:

  • Three new patrons since yesterday. Thank you, I shall endeavour to keep delivering! Tell your friends and colleagues. It’s probably deductible!
  • Keep tweeting your pictures of the book! Every one is like a photo of my beautiful child. “The only thing I’ve ever spent actual money on regarding bitcoin just arrived today!” — happy reader Kiwid:


“i think i’m going to buy divabot’s book just to hand to the first jackass that asks me what i think about bitcoin at my family christmas dinner” — infernal machines



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