Bitcoin’s Price Was Artificially Inflated Last Year, Researchers Say

SAN FRANCISCO — A concentrated campaign of price manipulation may have accounted for at least half of the increase in the price of Bitcoin and other big cryptocurrencies last year, according to a paper released on Wednesday by an academic with a history of spotting fraud in financial markets.

via Bitcoin’s Price Was Artificially Inflated Last Year, Researchers Say

It looked like a pump and dump. Half of all bitcoin is owned by 100 people. They are mostly anonymous. They can pump and dump and make a fortune and no one would be able to trace them.

Bitcoin Wound Up Being Just As Broken as the Corrupt Banking System It Was Trying to Kill

Bitcoin Wound Up Being Just As Broken as the Corrupt Banking System It Was Trying to Kill

Bitcoin Schadenfreude

Bitcoin Schadenfreude

I tend to take the stance that Libertarianism is like Leninism: a fascinating, internally consistent political theory with some good underlying points that, regrettably, makes prescriptions about how to run human society that can only work if we replace real messy human beings with frictionless spherical humanoids of uniform density (because it relies on simplifying assumptions about human behaviour which are unfortunately wrong).

Why I want Bitcoin to die in a fire

Charlie Stross wrote an insightful post about BtC and Libertarianism, and closes with the above paragraph, which sums up why I looked at Libertarianism when I was younger, realized it was absolutely not for me, and embraced my OMG SOCIALIST ideals.

(via wilwheaton)