You are at: Home » “Exit Sign” – Kunstler | $9,096.37

“Exit Sign” – Kunstler | $9,096.37

Author
Last updated on:
Fact Checker
I’m not so sanguine about Bitcoin’s supposed impregnability, nor about many of its other appealing claims. The Mt. Gox affair of 2014 must be forgotten now, but back then some sharpie hacked 850,000 Bitcoins (valued over $450,000,000) out of the exchange, which was processing almost two-thirds of all the Bitcoin trades in the world. Mt. Gox went out of business. Bitcoin tanked and then traded sideways for three years until (coincidentally?) the Golden Golem of Greatness was elected Leader of the Free World. Hmmmm…..
 If Bitcoin were to keep rising to $1,000,000 per unit, as many investors hope and pray, there wouldn’t be enough electric power in the world to keep it going….
I’m not convinced that crypto-currencies are beyond the clutches of government, either. Around the world, in their campaign to digitize all money, there must be a deep interest in either hijiking existing block-chains, or creating official government Bit-monies to seal the deal of total control over financial transactions they seek….
My personal take on the phenomenon is that it represents the high point of techno-narcissism — the idea that technology is now so magical that it over-rides the laws of physics. That, for me, would be the loudest “sell” signal.

Eulogy made by James Howard Kunstler

Source

Maria Martinez is an esteemed blockchain enthusiast who has spent many years as a writer specializing in cryptocurrency and blockchain technology. With over a decade of experience navigating the complexities of this niche, Maria brings a meticulous eye for detail and an unwavering commitment to accuracy. Her background includes a degree in economics and her expertise is further solidified by her extensive research capabilities, writing experience, and her reputation for impartiality. Respected by both her peers and readers alike, Maria is dedicated to delivering reliable and trustworthy information that enhances the credibility of our content.

View all Posts by Maria Martinez

Free Bitcoin Crash Course

Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
We hate spam as much as you do. You can unsubscribe with one click.
We hate spam as much as you do. You can unsubscribe with one click.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top