Fire and Fury: merchant de-adoption, Visa, Bitcoin futures, porn ICO, Ripple, market cap collapse, book pics

Fire and Fury: merchant de-adoption, Visa, Bitcoin futures, porn ICO, Ripple, market cap collapse, book pics

  • Not to worry, we’ll use our Bitcoin Visa cards! Except all the Bitcoin Visas have stopped working. Because they were all going through one provider, WaveCrest, who were violating their agreement with Visa good and hard. “Exploring new options” is an ancient Bitcoin phrase that translates “sorry for your loss”:

 

 

  • Izabella Kaminska reports on the CFTC’s Bitcoin futures offering: “Friday’s CFTC commitment of traders report for bitcoin futures paints a predictable picture. Dominated by small specs, esp. on long side. No real institutional participation, small number of big speculators making up bulk of short side. Interestingly it represents exact opposite pattern of trade in big financial contracts like S&P or dollar futures, where institutional dominates and other/non reportables are tiny comparative participants.” Basically, real money isn’t very interested.

 

 

  • I am shocked, shocked to hear that Jonathan Lucas, founder of Fantasy Market, has disappeared with the money from his FMT webcam pornography ICO. Kevin Dugan at the New York Post appears to be doing what most financial press don’t bother to, and asking the basic and obvious pointed questions: “The venture flamed out in November after The Post questioned Lucas for about an hour on how his ICO would work and about statements he made in the white paper.”
  • FT Alphaville discusses the XRP bubble. In the comments you’ll see real-life usage — Ripple’s totally-not-XRP-but-it-could-be replacement for SWIFT carries literally … $9,000 a day of transactions.
  • I endorse this morning’s Guardian editorial, “A greater fool’s gold” — get-rich-quick schemes never are, and trusting software instead of humans is stupid and ill-conceived — but my favourite part is the photo (Alex Hofford/EPA):

 

 

  • I was on Friday’s BBC World Service Tech Tent with Rory Cellan-Jones — the segment on Ripple, XRP and the crypto bubble from 9:20 to 16:15. I talked very fast about the XRP pumpers on Twitter and how get-rich-quick schemes aren’t.
  • A nice blog review from Romin Irani. “I came across this book via a discussion with my colleague at work, who recommended the author.” KEEP UP THE WORD OF MOUTH, DEAR READERS!
  • More delighted readers share their book photos!

 

 

And now, the weather:

 

The above tweet is from the CEO of Coinbase. It’s worth noting here that one of Craig Wright’s earliest Bitcoin ventures was to trade (allegedly existing) bitcoins from one of his companies to another, then claim a tax refund of AUD$3.1 million that would have been received from the Australian Tax Office in actual AUD. The ATO was unimpressed with this kind of creativity, and instead ordered a AUD$1.7 million penalty against him.

 

Matthew Garrett is a Linux kernel developer. (He once fixed my wifi for a pint.) He’s been dealing with Meltdown/Spectre and swearing copiously, like the entire rest of the IT world. Update your Firefox and Chrome now.

 

BRB, just rereleasing my book as Fire and Fury: Bitcoin Mining Accidents and Getting Your Money Out Of Coinbase.

 



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