News: 450m Tethers this week, BitConnect shuts down, GPU miner viruses, US Treasury, unbanking the banked, altcoin fraud
And James Altucher claims to know who Satoshi Nakamoto is, and that he reads Satoshi’s blog daily. Huge if true.
Tag: bitcoin
‘Tis just a seasonal dip! Watching the Bitcoin fire from a safe distance — what just happened
The price of Bitcoin started collapsing this morning. I’m not going to be so foolish as to call it, but I am saying “I told you so” — the only actual money people will get out is actual money that other people put in.
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.
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.