News: KodakCoin, Hydro-Québec, South Korea, Bitcoiners don’t take Bitcoin, Lightning Network, Ethereum woes
I spend too much time on Bitcoin Twitter. Yes, I know I did this to myself.
Tag: bitcoin
Bitcoin mining being pushed out of China: what’s happening, and how the shutdown’s being managed
China is worried about crypto mania affecting the real economy. So they’re pressing Bitcoin miners toward a phased shutdown, and ending subsidies on electricity and land.
Why you can’t cash out pt 3: Bitcoin is not a Ponzi scheme! It just works like one
“A fish bowl with no food in it that fish keep jumping into because they heard it’s an all-you-can-eat buffet. And for the meanest fish, it is.” Why most Bitcoin on-paper “wealth” can never be realised.
News: Nvidia blockchain, new US crypto tax rules, the cryptoruble returns, Bitcoin vs Islamic law, advertising on the blockchain, the Ripple pump
Ripple: “who, us? Anything to do with the XRP pump? Ahahaha nonono!”
Eric Geissinger: Virtual Billions — looking at Bitcoin through a libertarian lens
A book given to historical rambling, but the Ross Ulbricht/Silk Road chapter is particularly good and insightful on what happens when you overextend an ideology to the point of monstrosity.
News: Bitcoin as Ponzi, Australian bank blocks, schadenfreude, Hypebot, books
A quiet day, but with some good bits. Get yourself a good free ebook too.
News: IBM Blockchain, Sergei Mavrodi, carders hate Bitcoin, blockchain use cases, market manipulations
A bit of news, a few good opinion pieces, some nice book photos and the Christmas tweet selection. Also, you should sign up for the Patreon.
Why you can’t cash out pt 1: Why Bitcoin’s ‘price’ is largely fictional
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.
News: Buttcoin 2017, ICOs, Parity bailout, NiceHash post-mortem, cashing in bitcoins, Wikipedia, Lightning Network
The SEC’s action against Munchee is particularly noteworthy for how generic the dodgy ICO in question is.
News: Tether from cryptos, $10,000, Tesla charging station mining, CME Bitcoin futures, Ethereum dinner, book news
Plus: the worst bootleg version I’ve ever seen of any book, and it was of mine.