Digital Gold, Jerry. Gold!

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Posting this to build up my street cred.

So the disclaimer is that I should today be a Bitcoin billionaire, but I am not. My bad. NGMI.

The main reason I never put a lot into Bitcoin (I have a small amount) is because I was fairly convinced the U.S. government would absolutely crush it if it threatened the dollar. Just look at Saddam and Mu'ammar, for example.

I now assume that the crypto space has become so useful to U.S. intelligence and law enforcement agencies that the “scientific-technological elite” have to accept it. I also would not be surprised if it turns out to be some sort of NSA experiment to prepare us for the ultimate repressive statist goal: all-digital currencies, aka CBDC’s.

Just musing. If any of this triggers you, don’t get mad - I’m not your enemy. Feel free to be disappointed in my lack of faith if you want. That’s fine.

Also I’m old, and practically a Luddite:

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As for the 10,000 “coins” or “ICOs” or “tokens” or whatever they are called, I made the mistake/had the foresight to look into a few back in 2017. The first one was “Monkeycoin,” which has since gone to token heaven.

Here’s the (of course now deleted) article I mentioned in the ‘gold rush’ tweet above: Monkey Evolves ICO Markets For Potential Bitcoin, Ethereum-Style Gains Seriously, check the article out.

So here’s the “gibberish,” written by the “Editor-in-chief of Coinspeaker and Chairman & CEO of global investment company DMH & CO.” (It seems that the website for DMH & Co. is now available.):

Here’s Why Bitcoin & Ethereum Can Never Be In A Bubble. (No, really: digital bubbles are impossible.)

The above tweets drew some vitriol from the Monkey Capital CEO, and you can guess what happened next.

And here’s the Monkey Capital ICO White Paper. I’ll owe anyone who reads this a drink. e.g.,

We demonstrate how multiple Token issuances can create a cycle of perpetuated digital asset creation for Token Holders as owners of MNY become eligible for free Tokens pertaining to alternate same-portfolio asset ICOs managed by the same decentralized group.

OK then.

Another “white paper” I read in 2017 was from “Brickcoin” (“Make Manhattan yours from $100.”) I still have brain damage from that one too. (Sadly/fortunately, many of my tweets from back in 2017 and earlier were NOT archived by archive.org.)

So in conclusion, I’m not a Bitcoin billionaire, but I since I have other priceless things, it’s a wash.

Since 2017, I’ve pretty much avoided the crypto space entirely (much to Mark Yusko and Raoul Pal’s displeasure), but I’m not at all surprised at the latest developments (see below).

There’s always a scam somewhere, and heaven knows there’s plenty today on Wall Street. FOTS Jim Chanos is right that we are in the “Golden Age of Fraud.”

Sometimes I’ve defended the crypto when garbage sites like CNBC attack it, because they ignore and in fact promote so much Wall Street crime, but the fact is, I loathe fraud wherever it comes from, and every one of these crypto-Madoffs should be put in prison, just like Eric Holder put away a few thousand Wall Street…oh, wait - that never happened.

Someday we’ll start prosecuting white collar crime above a certain level again. Hell, even under the George W. Bush, his top donor Kenny Lay went to prison.

I wish my crypto brethren well. (Just please stop saying ‘digital gold'.)

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I got published!

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‘I’m out millions of dollars’: Thousands of crypto investors have their life savings frozen as Voyager files for bankruptcy protection

No worries - you’re FDIC insured!

Crypto Broker Voyager’s Marketing on Safety of Customer Accounts Draws FDIC Scrutiny What’s the old saying about the stable door and the horse?

h/t An interesting Scam Economy podcast.

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• World’s First Water Cryptocurrency, $H20N, Raises $150 Million

• Interesting Thread on $VYGVF

• Elon Musk’s Boring Company Will Accept DOGE Payments for Its Loop Underground Rides in Las Vegas

• Three Arrows Wanted a $100M NFT Collection. Instead, It’s Worth Less Than $5M

• 3AC Is Broke. What Will Happen To Its Multi-Million Dollar NFT Collection?

The above doodle is worth $5.9 million, or was.

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...next to language, money is the most important medium through which a modern society communicates. What happens when this medium does not function properly anymore, when it loses its trustworthiness and ultimately wreaks havoc? - Bernd Widdig

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I may sell all my NFT tweets.as an NFT.

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Good friend of the show Dave Collum shared the best descriptions of NFT’s I’ve seen:

Dave "Free Rudy" Collum @DavidBCollum

NFTs explained...

Thanks again to everyone who has tried to help me against the Twitter Fascists, with the “Free Rudy” tags, and by reposting my stuff there and elsewhere. Go for it. I think it might be a lost cause, but I’ve been fighting lost causes for a long time.

Keep fighting the good fight.