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Should-Read: Charlie Stross: Unforeseen Consequences and that 1929 vibe

Should-Read: BitCoin has no good endgame: Charlie Stross: Unforeseen Consequences and that 1929 vibe: “We’re going to run out of new BTC to mine… [then] the incentive for mining (a process essential for reconciling the public ledgers) will disappear…

…and the currency will… will what? The people most heavily invested in it will do their best to patch it up and keep it going, because what BTC most resembles (to my eye, and that of Jamie Dimon, CEO of JP Morgan Chase) is a distributed Ponzi scheme. But when a Ponzi scheme blows out, it’s the people at the bottom who lose. The longer BTC persists, the worse the eventual blowout—and the more angry people there are going to be. Angry people who are currently being recruited and radicalized by neo-Nazis…

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Should-Read: Charlie Stross: Unforeseen Consequences and that 1929 vibe

December 26, 2017

AUTHORS:

December 26, 2017

AUTHORS:

Factsheet: Is the U.S. economy in a recession, and how does recession dating work?

U.S. income and wealth inequality are no longer increasing, but a return to the equitable levels of the mid-20th century isn’t likely anytime soon