Filmed yesterday, should be live tonight, cross fingers.
The most important news, of course, is that you still have time to get that relative who’s telling you about Bitcoin that paperback of Attack Of The 50 Foot Blockchain for Christmas!
Public discussion and media coverage of Bitcoin assumes certain things about Bitcoin:
• Bitcoin has a price, that you could expect to buy or sell it around.
• Bitcoin is like buying a share in a company, or a commodity like gold — the market works the same way.
• Bitcoin is liquid — you can easily convert your money to Bitcoin, and your Bitcoin to money.
None of these are true.
“Bitcoin is finance, distilled … There are no fundamentals, no cash flows or price-earnings ratios, to evaluate. It is pure speculation about speculation, a Keynesian beauty contest where all the pictures are blank.”
I tweeted about the Lightning Network, and someone posted it to Reddit /r/btc as “Some old dude raising good questions about LN.” Of course, /r/buttcoin took its turn …
One billion Tethers! Each and every one backed by a redeemable US dollar, of course, as they state. 800 million of those being loaned out on Bitfinex for margin trading.
Paperbacks in Australia for Christmas, cheap ebooks in India and Patreon’s reversed its awful fee revamp.
The original version of my 2017 Buttcoin retrospective for CoinDesk, for your amusement.
The SEC’s action against Munchee is particularly noteworthy for how generic the dodgy ICO in question is.
Home cryptocurrency miners using NiceHash in 2017 aren’t any more competent than home Bitcoin miners were in 2011.