News: Crypto hedge funds suffer, bankers on crypto’s problems, what good payment networks look like, another Civil news outlet, EOS doesn’t work, PonzICO retrospective

News: Crypto hedge funds suffer, bankers on crypto’s problems, what good payment networks look like, another Civil news outlet, EOS doesn’t work, PonzICO retrospective

  • Institutional money flowing into cryptos may not be right round the corner — crypto funds are not doing well. “Plunging returns this year, with performance dropping by 35 per cent as digital coins suffered a volatile first half.”

 

 

  • The public have inexplicably failed to flock to cryptocurrencies’ value proposition in nine years. This could be due to the propaganda of fiat bankster shills … or it could be that the fiat banksters are completely correct, and Bitcoin and its descendants are still incompetent. BIS: “Looking beyond the hype, it is hard to identify a specific economic problem which they currently solve. Transactions are slow and costly, prone to congestion, and cannot scale with demand.”

 

 

 

 

  • I mentioned PonzICO in the ICO section of the book. Here’s the retrospective. “Other projects should take this unorthodox lesson to heart: turns out one of the best ways to generate income is trading your labor for money, rather than scamming people out of money.”
  • Also mentioned in said ICO section — EOS, the Platonic essence of an ICO token, with an offering document stating that this thing you were buying was literally worthless. They finally built their network, and you’ll be amazed to hear that it doesn’t work. The token price was, of course, unaffected.

 

 

 



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One thought on “News: Crypto hedge funds suffer, bankers on crypto’s problems, what good payment networks look like, another Civil news outlet, EOS doesn’t work, PonzICO retrospective”

  • Buying multiple colors of tulips actually makes a little bit more sense – at least you will have many colors in your garden. But same argument goes when you compare tulips to bitcoins in general

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