Tag:

cryptocurrency

Why mining cryptocurrency is unprofitable — an anecdote

Long story short:

  • had a particular machine mining XMR for less than a year
  • the CPU fans have worn out their bearings after spinning non-stop during that time
  • fans are now making loud high-pitched noises, filling my living quarters with unbearable noise, while simultaneous threatening a fried CPU

The cost of replacing the fans?  About twice as much as the eq… Read more

Goldman Sachs sets the Netflix trap

The pump-and-dump is on.

Back when BitCoin and other cryptocurrencies were ascending to unprecedented and irrational highs, I churned out article after article detailing all the analysis from first principles why the real valuation of cryptos is zero, and not $20,000/BTC.

I started writing about the cryptocurrency bubble when BTC was hovering around $… Read more

BitCoin’s “Network Effect” is a euphemism for pyramid scheme

The “network effect” has already been debunked many times indirectly in my other articles, particularly the one where I rebut Max Keiser and go into detail how building upon a protocol does not guarantee success of any individual cryptocurrency.

It seems like this mantra claiming that BitCoin has intrinsic value due to its “network ef… Read more

How much is social media group-think fueling financial bubbles like BitCoin? #HODL

I think now is as appropriate of a time as any to tie together two topics I’ve written about extensively on this blog: anti-social media and cryptocurrencies.

It’s hard to ignore the financial news from yesterday: cryptocurrencies with another double-digit percentage drop, stock markets dropping about 5%, volatility up 100%.

With regards … Read more

Thursday Thoughts: cryptocurrency hype is dead, enough with Russia

Thursday Thoughts are a series of recent observations too short to merit their own article, but still important when analyzing today’s technological, economic and psychological trends.

A moment of silence for cryptocurrencies

Another 10% rout today brings the total drop-off over 50% within the span of six weeks for BitCoin and many other cryptos.  T… Read more

If Tuesday was a violent selloff, then the looming recession will be armageddon

Oxford Dictionary’s 2017 word of the year was “youthquake”.

Merriam-Webster Dictionary’s 2017 word of the year was “feminism”.

A word that would run in my personal Top 10 of 2017 is “violence”. In many ways, it is related to the above two: “youthquake” and “feminism”.  Th… Read more

Debunking more BitCoin propaganda: down 50% in 10 days, up 1000% in 10 months

Who cares that BitCoin dropped 50% in 10 days. It has gone up 1,000% in the past 10 months!

This persuasive line is not specific to cryptocurrencies, but to any pyramid scheme.  For the impatient and greedy, the statement reads like “get in now and join the party or miss out forever”. For anyone that stops and thinks about it critically, it tells y… Read more

Debunking more BitCoin propaganda: blockchain “revolutionizes trust”

In this edition of DBP (Debunking BitCoin Propaganda), I am not going to attack the premise that the blockchain algorithm solves a decentralization problem.  It does.  By distributing the information among millions of clients it becomes very difficult to manipulate the ledger, thus all “coins” that exist in the ecosystem utilizing any o… Read more

DogeCoin? Such wow! When an Internet meme has a $2 billion valuation

Simultaneous tears of laughter and tears of sadness were shed when readers of Business Insider and Yahoo! Finance were graced with the doge:

An Internet meme’s lifespan is usually pretty short before its comedic effect wears off, but somehow this five-year old joke has made a comeback because of the cryptocurrency surrounding the meme.

If that isn&… Read more

Debunking more BitCoin propaganda: “you can’t efficiently transact with it, but the same is true with stocks”

It’s what cheerleaders do best — chant team slogans and optimistic phrases to psyche up the home team.

Here’s a slogan I see peppered throughout financial message boards, particularly in threads that dare criticize cryptocurrencies:

You can’t efficiently transact with [BitCoin], but the same is true with stocks

A bit of paraphras… Read more