Crypto pundits’ efforts to defend Proof of Work, despite the financial absurdity of paying millions of dollars per day to perform a few transactions, and the resulting environmental calamity, are second to none. The reason why PoW is the hill where the crypto industry is ready to die on, is that PoW is the foundation […]
Crypto exchanges are regulated entities. This is shown as proof of trustworthiness by the crypto industry. However, the regulations to which crypto exchanges have to comply are completely outdated and inadequate. In the United States, crypto exchanges have to register with the FinCEN as “money transmitters”. It’s a category within the Money Services Business (MSB) […]
Any resemblance to actual individuals or events is absolutely intentional.
Nvidia ($NVDA) was the top performing stock in the S&P500 index in 2016, rallying a whopping 227%. 2015 and 2017 weren’t bad either, as the stock went up by 66% and 82%, respectively. The story of Nvidia’s amazing rise, and subsequent fall, is a tale of wishful thinking, unintended consequences, and, of course, cryptocurrency mining.
“Pomp”, a fictional character that appeared to me in a dream, shouldn’t be confused with Anthony Pompliano, whom I’ve never met, spoken to, or interacted with in any other way than just screwing around his Twitter handle until he banned me.
Enough with the pessimism. Bitcoin is down 80% from all time highs, we get it. So what? It has happened so many times before, and will happen again. You can’t have outsized returns without outsized volatility. We’re still on track for $1,000,000 by 2022, as I predicted in mid-2018, and here are the reasons for […]