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Department Of Defense To Study Bitcoin As A "Terrorist Threat"

Tyler Durden's picture


Submitted by Mike Krieger of Liberty Blitzkrieg blog,

Two very interesting Bitcoin related articles have emerged over the past week and demonstrate the total irrationality that surrounds the status quo’s understanding of this revolutionary and liberating technology. Let’s start with the Department of Defense story, the headlines of which most of you have probably seen by now.

A division of the U.S. military known as the Combating Terrorism Technical Support Office (CTTSO), which studies threats to national security (i.e., the status quo’s grip on power) has listed Bitcoin amongst a number of potential terrorist threats. Of course, as I and many others have noted repeatedly, anything which threatens the prevailing criminal status quo will be merely labeled a “terrorist threat” in order to neutralize it. Just in case you aren’t yet convinced of how insane the folks at CTTSO are, “also on the CTTSO’s list of terrorism research topics were Android, Motorola, social media and virtual reality.” What has happened to this country…

From International Business Times:

After attracting attention from law enforcement, financial regulators and old-school Wall Street investors, bitcoin is now on the U.S. military’s radar as a possible terrorist threat.


Friday was the deadline for submissions to a counterterrorism program seeking vendors to help the military understand state-of-the-art technologies that may pose threats to national security, and “bitcoin” and “virtual currencies” are listed among them.


The program is being conducted by the Combating Terrorism Technical Support Office, a division of the Department of Defense that identifies and develops counterterrorism abilities and investigates irregular warfare and evolving threats.


An unclassified memo from January unearthed by Bitcoin Magazine detailed solicitations for CTTSO projects. The memo states that one of the mission requirements is for “innovative…solutions to develop and/or enhance new concepts and constructs for understanding the role of virtual currencies” in financing threats against the United States.


A Treasury Department investigation said in March that it found no evidence of “widespread” use of virtual currencies like bitcoin to finance terrorism. Still, it’s clear that nefarious individuals have recognized the potential to use bitcoin for harm.

Ok so they have no proof whatsoever that Bitcoin has anything to do with terrorism, but what the hell let’s just demonize it anyway! I’m just waiting for the witch burning ceremonies to commence on the National Mall.

Also on the CTTSO’s list of terrorism research topics were Android, Motorola, social media and virtual reality.

There you have it. Peer-to-peer technology=terrorism.

Moving along, Bloomberg published an article this morning talking about how Wall Street won’t use Bitcoin, but will try to rip off the technology. This shouldn’t surprise anyone, as the only advancement we have seen in the financial services industry in decades is an explosion in creative ways to commit fraud and not get in trouble for it. After all, when you are an industry with zero creative talent what are you supposed to do. You lie, steal, cheat and pay off politicians in Washington D.C..

From Bloomberg:

While Jamie Dimon and Warren Buffett express doubts about bitcoin, executives running the financial industry’s back offices are looking at mimicking the virtual currency’s methods of moving money quickly and cheaply.

Zero. Talent.

FIS, a provider of systems used by banks to handle payments, is examining whether a public ledger like bitcoin’s could help securely move funds on existing networks, Fred Brothers, the firm’s chief innovation officer, said in an interview. Fiserv Inc., a provider of technology for payments and accounts, is examining bitcoin’s use of encryption to ensure transfers are secure, said Marc West, a senior vice president.


Such interest shows how Wall Street could seek to reap benefits touted by bitcoin’s backers without using the virtual currency itself. Bitcoin, proposed by an anonymous programmer or programmers in 2008, has drawn entrepreneurs and retailers looking to popularize it as a low-cost alternative to established payment systems, supplanting credit cards to international wire transfers. Instead, a variety of financial firms might copy its underlying design to hone their own systems or services sold to clients.

Let me guess, once the big banks start using the technology it will suddenly cease to be a “terrorist threat” and will morph into a breakthrough banking technology.

“It’s safe to say that every bank is looking at what’s going on with bitcoin and those types of technologies,” said Steve Kenneally, a vice president at the American Bankers Association. “Most of the larger banks are investigating it. The larger the banks, the further along they are.”


Buffett’s long-time business partner, Charles Munger, was less charitable this week, telling Fox Business Network that calling bitcoins “rat poison” would understate his disdain.

Oh boy, more on this later…

Wedbush is examining the potential use of systems akin to bitcoin for interbank money transfers, said Luria, who oversees the effort. Such technologies include Ripple, a bitcoin-like system that completes transactions faster.

I wrote a detailed post describing Ripple, the pros and the cons earlier this year. In case you missed it: What is Payment Protocol “Ripple” and How Does it Allow for Physically Backed Digital Gold Currency Exchange.

“What banks are looking at is updating the technology they already have — using the rails that they have in a more efficient, faster manner through modifying existing payment systems,” Whaley said.

How can the financial services industry be seen as anything more than extremely well paid parasites.

Now let’s get back to those Charlie Munger comments. For those of you unaware, Munger is Warren Buffett’s right hand man, and he made headlines in 2012 when he stated only Jews in Nazi Germany before being thrown on a train to a concentration camp have any reason to buy gold. I’m starting to think that Munger is actually Uncle Warren’s evil alter-ego. That Munger spews what Buffett actually thinks but can’t say himself since he needs to keep his cutesy grandfather routine going.

In any event, Munger called Bitcoin “rat poison” (watch the interview here) and I found his choice of words quite telling. After all, rat poison is used to eliminate dangerous and unsanitary pests, namely rodents. So if Bitcoin is “rat poison,” who are the rats? I’d say the financial system itself. So if Bitcoin is the poison to eliminate the hopelessly corrupt and parasitic financial system I have to agree with Munger. Bitcoin is indeed rat poison.

I also find it interesting how Munger seems so obsessed with the word “rat.” Recall, he recently described slammed HFT as “rats in a granary.” Lots of rat imagery happening in this creepy old man’s mind. You have to wonder why…

Screen Shot 2014-05-07 at 10.31.01 AM 


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Wed, 05/07/2014 - 18:35 | 4737559 McMolotov
McMolotov's picture

I look forward to seeing videos of Fonestar wearing a fake beard.

Wed, 05/07/2014 - 18:38 | 4737575 resurger
resurger's picture

You kids will hate you for not buying! LAwl

Wed, 05/07/2014 - 18:42 | 4737590 fonestar
fonestar's picture









Wed, 05/07/2014 - 18:44 | 4737605 Keyser
Keyser's picture

The DoD should investigate itself as a terrorist threat...


Wed, 05/07/2014 - 18:52 | 4737635 G.O.O.D
G.O.O.D's picture

I guess I'll see you dancing in the ruins tonight?

Wed, 05/07/2014 - 18:57 | 4737647 fonestar
fonestar's picture

WW3 is an especially bullish possible scenario for Bitcoin as it facilitates direct transfer right through economic restrictions.  fonestar can always send BTC to users in Russia and China.  The networkers always find a way to route around anything.

Wed, 05/07/2014 - 19:04 | 4737672 negative rates
negative rates's picture

With the exception of Father Time.

Wed, 05/07/2014 - 19:12 | 4737695 knukles
knukles's picture

So far they've not explained life or consciousness either.

PS  Androids are dangerous. Just as Arnold Schwarzenegger

Wed, 05/07/2014 - 19:35 | 4737762 chumbawamba
chumbawamba's picture

I propose a neologism for "munger".  In the same vein as "santorum" (you know what I'm talking about) and the whole Richard Gere gerbil stuffing meme, I would like to put into the vernacular:




verb    to stuff a rat into a partner's rectum as a form of sexual gratification. 


"After a few lines of crystal and some indeterminate amount of vodka I agreed to let Cody munger me this past weekend."

I am Chumbawamba.

Wed, 05/07/2014 - 19:56 | 4737875 knukles
knukles's picture


Wed, 05/07/2014 - 20:15 | 4737953 chumbawamba
chumbawamba's picture

You must be an aging fuck like me, knukles.  I realized only after hitting the "save" button that a lot of the kids around here probably don't even know about the whole Richard Gere gerbil stuffing thing, let alone who Richard Gere is.


Wed, 05/07/2014 - 21:00 | 4738123 espirit
espirit's picture

I always thought Federal Reserve Notes were number one choice of terrists.  BTC?  Rubles, or Yuan seems moar likely.

Bet we need moar .gov to opine this. 

Wed, 05/07/2014 - 22:33 | 4738349 Prisoners_dilemna
Prisoners_dilemna's picture

"You can assume no government wants you adopting this system in any capacity, and for that reason alone it's worth consideration by honest, moral, and industrious people."


I dont know anything about this Gere incident.   My generation is familiar with "The Sparrow Prince", "The Frog King", "Catatafish", and "Mr. Slave".

Thu, 05/08/2014 - 04:17 | 4738881 gold-is-not-dead
gold-is-not-dead's picture

Mr Munger doesn't look happy. Did someone put a dick in his eye? Money can't buy another one.

Wed, 05/07/2014 - 23:29 | 4738579 Jreb
Jreb's picture

Fuck - I laughed hysterically at that. I'm getting old....

Wed, 05/07/2014 - 20:18 | 4737959 prains
prains's picture

poor fucking rat, it does not deserve such a vote is to replace the rat with Bernank. So instead of stuffing his rectum with an innocent creature whose only crime was to fail in the genetic lottery of biology, the Munger would include Bernanks head being stuffed instead.


I am Haka or prains or hey you! depending on how much money my kids sense I have at the time in my wallet

Wed, 05/07/2014 - 20:58 | 4738107 sleigher
sleigher's picture

You must visit the hole in the wall bar south of market SF.  I insist.  

$5 for a line and a budweiser.  Years ago anyways.  I moved away 3 years ago or so. Jack knows the spot.  Wonder if he still works for yellow... 

Wed, 05/07/2014 - 19:08 | 4737681 chumbawamba
chumbawamba's picture

Nice, you're a domestic terrorist now!  Welcome to the club, brother.

I am Chumbawamba.

Wed, 05/07/2014 - 19:55 | 4737878 palmereldritch
palmereldritch's picture

His name is dronestar

Thu, 05/08/2014 - 17:34 | 4741219 mkkby
mkkby's picture

"Could be used by a terrrorist", not "is a terrorist threat". 

Duh.  Krieger is an ass.  Nothing to see here.

Wed, 05/07/2014 - 20:26 | 4737982 TheReplacement
TheReplacement's picture

If there really is to be a WWIII btc will die or do you really think countries will leave the internet up so that they are connected, just to make it easier for spies and such. 

We aren't talking about some rainblow revolution in where Sheik Yerbooti is gently escorted out of office.  A real WW and the world we know stops existing.

Wed, 05/07/2014 - 23:37 | 4738599 XitSam
XitSam's picture

What are you buying from Russia and China? How do they deliver it?

Thu, 05/08/2014 - 00:29 | 4738691 HardAssets
HardAssets's picture

WW3 bullish for bitcoin ?

Ever heard of EMP ?

At least with PMs, you don't need computers or even electricity

I don't think the WW3 scenario is a bitcoin selling point.

Thu, 05/08/2014 - 04:23 | 4738886 gold-is-not-dead
gold-is-not-dead's picture

good luck with hidding 10 kg of gold...

Thu, 05/08/2014 - 05:45 | 4738944 Parrotile
Parrotile's picture

Seeng as a single Fed. Reserve gold bar weighs in at 14kg or so, and is only approx 7 x 3 1/2 x 1 3/4 inches, 10kg gold wouldn't be that difficult to hide, especially if it were to be subdivided into, say, 2kg ingots.

Thu, 05/08/2014 - 13:58 | 4740421 gold-is-not-dead
gold-is-not-dead's picture


Wed, 05/07/2014 - 19:16 | 4737710 HardAssets
HardAssets's picture

Another example of the military 'mind' ?

I swear, some in the military remind me of trained East German guard dogs. Enough 'brains' to do (with great effectiveness) as their masters order. But not enough brains to see that they're being ordered by psychopaths to attack old ladies, as they try to escape over the Berlin Wall.

Then again, maybe they just want to grab taxpayer dollars and keep some more job slots for themselves open.

Wed, 05/07/2014 - 19:19 | 4737721 fonestar
fonestar's picture

Or US GIs kicking in doors of innocent Iraqis and executing women and children?

Wed, 05/07/2014 - 23:46 | 4738612 XitSam
XitSam's picture

Attack old ladies? Are you talking about the police?  

Wed, 05/07/2014 - 20:39 | 4738032 logicalman
logicalman's picture

Shortest investigation in history!


Wed, 05/07/2014 - 21:00 | 4738122 RafterManFMJ
RafterManFMJ's picture
Headline from 2015



Department Of Defense To Study Gold As A "Terrorist Threat"
Wed, 05/07/2014 - 23:25 | 4738571 Stuck on Zero
Stuck on Zero's picture

This is the coolest.  A mathematical algorithm is now a potential terrorist threat.What's next, poetry?


Wed, 05/07/2014 - 19:32 | 4737777 asteroids
asteroids's picture

What's the difference between bitcoin and the FEDs fiat? Not much really. They are both created with computers and no real physical work is done, ulike the mining of gold or silver.

Wed, 05/07/2014 - 19:38 | 4737801 fonestar
fonestar's picture

No work done?  What a crock of shit, the Bitcoin network is the most powerful network on planet Earth.  It is LITERALLY doing more work than everything else.

Wed, 05/07/2014 - 20:20 | 4737974 Jendrzejczyk
Jendrzejczyk's picture

Could you get it to pull some freaking wires through a hotass attic for me tomorrow?

Thanks Fonebro.

Wed, 05/07/2014 - 21:13 | 4738158 Clever Name
Clever Name's picture

I have some mulch being delivered tomorrow also, chop chop!

Wed, 05/07/2014 - 23:49 | 4738620 XitSam
XitSam's picture

Good god you're an idiot.  This "work" you speak of is actually the largest contributor to global warming, I mean climate change, I mean climate disruption.

Wed, 05/07/2014 - 20:16 | 4737955 KingFiat
KingFiat's picture

For the FED fiat I have to agree that no physical work is done. That is plain counterfeiting.

But for bitcoin a lot of work is being done by computers: To validate the blockchain (and create new bitcoin) a lot of computer power is used. Currently enough computer power to calculate more than 64,000,000,000,000,000 cryptographic hashes per second, or more than thousands of the world's fastest supercomputers can do.

Because anybody can mine bitcoin, simple economics apply: The profit after CapEx, electricty costs and cost of trading bitcoin to fiat to pay the bills is marginal.

The only real value of the mining for bitcoin is the validation of the blockchain (the public ledger of bitcoin movements). It is needed to avoid trusting any particular entity with this validation (as the trusted entity would become corrupted, just as the FED). Instead we trust that at least half the computing power of the mining network are honest. And fortunately bitcoin mining today requires expensive specialised hardware that is useless without bitcoin, so dishonest miners have to work to destroy their own investment in mining hardware.

Wed, 05/07/2014 - 20:45 | 4738053 logicalman
logicalman's picture

Simple question....

Who has the most computer power?

Answer that and you know who will end up controlling BitCoin.

Don't get me wrong, the concept is awesome, I just don't trust the technology it relies on, with hardware and software open to manipulation as it is right now.

The government thugs are still in control. An important thing to remember.


Wed, 05/07/2014 - 21:15 | 4738167 Clever Name
Clever Name's picture

An even simpler question:

What is all that 'work' actually doing? "Mining" for BTC? Highly dubious.

Wed, 05/07/2014 - 21:20 | 4738185 chumbawamba
chumbawamba's picture

Generating heat.

I am Chumabwamba.

Thu, 05/08/2014 - 06:26 | 4738965 jonytk
jonytk's picture

mining is just a game of luck, like lottery, the more power, the more tickets you have to win the lottery.

If there were ever a way to cheat, a flaw on the mining algorith, it could be just upgraded to scrypt or other "mining" algorith.

The only side effect mine could have is the advent of cheap password decoding machines that could bruteforce short passwords based on SHA-256 or weaker.

Oh wait bitcoin could be the cause of websites and banks being robbed. ah the irony.

Wed, 05/07/2014 - 22:33 | 4738403 Bunga Bunga
Bunga Bunga's picture

Who has the most computer power?

The Bitcoin network. All supercomputers in the world combined are a computational joke compared to the mining network.

Sure, the government could buy miners and kill it in a 51% attack.It would cost them today $858 mln, but doubling every few months. I doubt that the bureaucracy could ever win that race.


Thu, 05/08/2014 - 04:16 | 4738880 zerocash
zerocash's picture

The FED can print USD faster than the Bitcoin difficulty increases.

Thu, 05/08/2014 - 06:17 | 4738964 jonytk
jonytk's picture

most likely chinese chip manufacturers, that's why they drove the price up, to increase sales.

I predict chip manufacturers will fund, with bitcoins, the first fusion-reactor in 2050 to get cheap energy to... wait for it... mine more bitcoins.

Wed, 05/07/2014 - 21:10 | 4738152 asteroids
asteroids's picture

Brute force search eh? Sounds kinda dumb. At least we use mechanical leverage and have a pretty good clue as to where gold and silver are when we dig. Don't get me wrong, I kinda like bitcoin. I'm still on the fence about it.

Thu, 05/08/2014 - 00:13 | 4738300 Bunga Bunga
Bunga Bunga's picture

If you understand a little bit more of how semiconductors work, you will see that a lot of physical workout happens in the mining chips. 

Thu, 05/08/2014 - 06:46 | 4738978 doctor10
doctor10's picture

So nobody will take Iranian or North Korean forged US 100's anymore?

Funny how Zero is Zeroing out EVERYTHING

The tighter his grip-the faster it slips through his hands

Wed, 05/07/2014 - 18:35 | 4737560 TheRideNeverEnds
TheRideNeverEnds's picture

Shut it down.

Wed, 05/07/2014 - 18:42 | 4737593 fonestar
fonestar's picture

Fuck yourself. 

fonestar has never been so proud to identify himself as a monetary terrorist!

Wed, 05/07/2014 - 18:46 | 4737613 Keyser
Keyser's picture

You wearing your Che Guevara t-shirt? 


Wed, 05/07/2014 - 18:49 | 4737628 fonestar
fonestar's picture

fonestar would never wear a shirt with that commie douche on it.

Wed, 05/07/2014 - 18:56 | 4737643 McMolotov
McMolotov's picture

Do you own a turban? One of those fuzzy hats the Russians wear might do in a pinch. Kind of depends on what kind of "terrorists" Uncle Sam needs to villainize.

Wed, 05/07/2014 - 19:00 | 4737661 fonestar
fonestar's picture

ZH'ers take sides with dipshits like Munger because they are proud morons.

Wed, 05/07/2014 - 19:07 | 4737677 McMolotov
McMolotov's picture

Anything that can speed up the collapse of the system or give it a big middle finger is a plus in my book, including bitcoin. One man's terrorist is another man's fonestar.

Wed, 05/07/2014 - 19:13 | 4737697 chumbawamba
chumbawamba's picture

The problem with fonystar is that he's promoting a bankster controlled utility (Bitcoin™).  I'm all for digital currency as long as it's truly anonymous and secure, not designed with NSA backdoors, etc.

Fonestar: repent.  Repent ye from the curse'd Bitcoin and preach the True Gospel of unadulterated anonymous, open source crypto-currency.


I am Chumbawamba.

Wed, 05/07/2014 - 19:14 | 4737702 fonestar
fonestar's picture

Go read the source code yourself.  You don't know what you're talking about.

Wed, 05/07/2014 - 19:23 | 4737732 chumbawamba
chumbawamba's picture

Go fuck yourself outside the box, you narrow-minded twit.

I am Chumbawamba.

Wed, 05/07/2014 - 20:00 | 4737894 fnord88
fnord88's picture

Translation: "I don't know what source code means, let alone how to read it".

Wed, 05/07/2014 - 20:13 | 4737934 chumbawamba
chumbawamba's picture

300: A0 00 B9 03 10 F0 07 20 ED FD C8 4C 02 03 60 00 00 00 46 55 43 4B 20 59 4F 55 52 20 43 4F 55 43 48 20 42 49 54 43 48 00

Assume an Apple ][ (6502).  $FDED = charout.  That will assemble and run.  It will print a message.

I typed that from scratch, from firing synapses that linger, and shall never die.  I taught myself how to do that when I was a teenager.  I'm now an Old Man.

Hexadecimal, motherfucker.

Fuck your source code.

I am Chumbawamba.

Wed, 05/07/2014 - 20:17 | 4737958 chumbawamba
chumbawamba's picture

And I'm drunk and high, bitch.  Yeah, that's right, I can do that stoned.

What you got?


Wed, 05/07/2014 - 21:04 | 4738135 sleigher
sleigher's picture

Assembly is the only way a man programs.  


Chumby, they don't read the source either.  In fact, the only people in the open source community that read the source are those that write, commit, or approve.  It's really a great idea except that everyone is a lazy fuck.  Oh and stupid to boot.  I am no exception.

If everyone was expected to audit the code we run nothing would ever get done.  

Wed, 05/07/2014 - 21:18 | 4738175 chumbawamba
chumbawamba's picture

Of course not!  Who has time?  I just want something that gets me from Point A to Point B, I want it now, and I don't want to fucking pay for it.  I don't care if I click to agree to some fucking EULA, I just don't want it installing some extra shit on my computer.  And fuck the EULA, what are they going to do, drag me into court and then prove I clicked it?  Don't make me wet myself.

No, they will fuck off.  Just like Bill Gates.  I've used his shit software for decades now and never paid for any of it.  Fuck him and his easily hackable software key scheme.  If I was an intelligent and less vindictive man I would have switched exclusively to Linux by now but just the thought of Bill knowing that fucks like me are out here using his software without paying him makes all the shitty bugs and crashes worth it.

And fuck Bitcoin.  Standardize on something truly anonymous and then I'll be interested.  Otherwise, I shall remain the white-haired bitch Cassandra.

I am Chumbawamba.

Wed, 05/07/2014 - 22:18 | 4738348 Exponere Mendaces
Exponere Mendaces's picture


Real hardcore motherfuckers have their own wire-wrapped logic units that they program by hand, in BINARY. Take your hexdecimal and shove it, you elitist fossil. Shit, at least you could've saved some face by saying it was an Amiga... fucking Apple ][? Christ... no wonder you and Knukles are such sellouts, coasting on the money you made in the easy days, before your generation sold everyone else down the river...

Next you'll be telling us that you made your own aucoustic coupler to dial in to the university mainframe for some badly formatted ASCII porn...

[ Oh, I guess I should put my name here, like you fossils do, but I won't - I think the average people know who posted... fucking morons..]



Wed, 05/07/2014 - 20:10 | 4737902 chumbawamba
chumbawamba's picture

And to that I would add go read the U.S. Constitution and tell me where the backdoors are in that.  Oh, yes, backdoors, my friend.  How do you think we collectively arrived at this sad state of affairs?  I point you specifically to:

Article I, Section 10, Clause 1

No State shall ... pass any ... Law impairing the Obligation of Contracts.

You have an unalienable god given unlimited right to contract.  Contract law is the "backdoor".  The Constitution is a contract, or more specifically, it's a security instrument, and a trust.

Don't believe everything you read in the source code.  As I alluded, think outside the box...or rather the plantation.

I am Chumbawamba.

Wed, 05/07/2014 - 20:22 | 4737975 prains
prains's picture



you have the right attitude.... tip of the glass to you! 


Wed, 05/07/2014 - 20:30 | 4737996 chumbawamba
chumbawamba's picture

It is all and only about attitude.


Wed, 05/07/2014 - 20:42 | 4738003 prains
prains's picture

....and nice all natural boobs

<----junker is a herm

Wed, 05/07/2014 - 21:15 | 4738166 sleigher
sleigher's picture

Law of the land.  Well, what is the other law?  Law of the sea.  What is at the edge of the sea?  The bank!  In a river we have 2 banks.  The river has a current or a current sea.   I have to admit, the fuckers love their mind games don't they.  Law of the sea is admiralty or maritime.  The constitution does allow for the other jurisdictions.  The question is how did they manage to bring the law of the sea onto the land.  There is no more law of the land.  There is only law of the sea.  Unless of course you can swim to shore and make it to the bank.  I can only ask that you throw me a "ring" that hangs off the "ship".  

Thu, 05/08/2014 - 00:13 | 4738662 ForTheWorld
ForTheWorld's picture

Someone has been listening to Jordan Maxwell...

Thu, 05/08/2014 - 08:11 | 4739159 sleigher
sleigher's picture

Yes he speaks of it, but so do others.  I have been researching much of this for years.

Wed, 05/07/2014 - 20:39 | 4738027 Haole
Haole's picture

Such a well-reasoned response is rarely seen here on ZH, impressive.  /s

Wed, 05/07/2014 - 23:51 | 4738625 XitSam
XitSam's picture

LOL. Chumba trolled Foney

Wed, 05/07/2014 - 19:52 | 4737862 knukles
knukles's picture

If it in any way is connected to the net, it is compromised.

Wed, 05/07/2014 - 19:15 | 4737704 knukles
knukles's picture

Maybe I should rethink my ideas concerning Bitcoin, now that Munger has elevated it to the realm of gold sewn in hems.

Seriously... Significant philosophical consideration.
For a brief moment.
Fuck Charlie and His Satanic Status Quo

Wed, 05/07/2014 - 19:44 | 4737830 Poor Grogman
Poor Grogman's picture

Forget bitcoin

Now we have RatPoisonCoin.

Run rats run

Wed, 05/07/2014 - 20:09 | 4737928 ElvisDog
ElvisDog's picture

No kidding. I was just thinking the other day "When are those two old fuckers (Munger and Buffett) finally going to die?"

Wed, 05/07/2014 - 21:04 | 4738138 Mentaliusanything
Mentaliusanything's picture

Soon, very soon. Thats a fact !

Just waiting for a vacant section in Hells hottest nightspot. Damn thats one popular place

Wed, 05/07/2014 - 18:46 | 4737614 McMolotov
McMolotov's picture

Good luck. We're all counting on you.

Wed, 05/07/2014 - 18:49 | 4737624 Rainman
Rainman's picture

sorry,  the derivatives peddlers done front run ya .

Wed, 05/07/2014 - 19:15 | 4737706 jaxville
jaxville's picture

Thats good that they are focused on bitcoin. That means my 90+ lbs of C-4 becomes really low priority. Count on the gov't to do things right.

Wed, 05/07/2014 - 20:47 | 4738056 dellievan
dellievan's picture

Fonestar or any knowledgeable ZH'er    - honest question-        I found the Mt Gox hack slipped out of the media far too quickly. With the owner of the exchange proclaiming his absolute innocence far too profusely.  Could not the owner  have collaborated with someone  and made off with the loot?  

 They would then have to just wait out the media storm for several months and then it's off to the Bahama's.  As you well know all transactions are irreversible and untraceable.

Another honest question -   how could the above mentioned individuals or anyone for that matter steal 400 mil in the case of Gox, or any large amount  of coins, and then eventually redeem them for money?  How does one cash out when millions are stolen?  Are the sums broken down to more manageable amounts?  It seems pulling out 10 grand at a time would be a great inconvenience if you want that Maclaren P1 quickly .      Cheers

Wed, 05/07/2014 - 22:38 | 4738422 Bunga Bunga
Bunga Bunga's picture

That ammount Wall St is stealing every week out of the pockets of honest Americans. I think Karpeles was way overrepresented in the media. What about Corzine?

Wed, 05/07/2014 - 18:37 | 4737561 ebworthen
ebworthen's picture

Munger:  it takes a rat to know a rat.

Bitcoin:  the U.S. Military works for the banks, Bitcoin is a threat to banks, therefore; the U.S. Military will go after Bitcoin.

Wed, 05/07/2014 - 18:35 | 4737562 AlaricBalth
AlaricBalth's picture

The only threat from anything Bitcoin related is when fonestar terrorizes the ZH threads.


Wed, 05/07/2014 - 18:43 | 4737600 fonestar
fonestar's picture

Your damn right.  fonestar the bitstrogoth.

Wed, 05/07/2014 - 19:13 | 4737698 AlaricBalth
AlaricBalth's picture

+1 for the pun.

Wed, 05/07/2014 - 19:24 | 4737737 Global Hunter
Global Hunter's picture

I have never given so many +1s to Fonestar as I have tonight.

Wed, 05/07/2014 - 19:29 | 4737765 fonestar
fonestar's picture

fonestar on fire.

Wed, 05/07/2014 - 19:43 | 4737826 chumbawamba
chumbawamba's picture

You're welcome.

I am Chumbawamba.

Wed, 05/07/2014 - 22:42 | 4738433 Prisoners_dilemna
Prisoners_dilemna's picture

How did you insert a picture?!?!

I dont think I've seen that done on ZH before... 



Thu, 05/08/2014 - 00:39 | 4738702 woolly mammoth
woolly mammoth's picture

Select Contributers can. Chumba's one, so is WB, HH, CD, GW, and others from the past like Robot Trader and some fella from Canada that was pushing Solar Panels.

Wed, 05/07/2014 - 23:36 | 4738595 Jreb
Jreb's picture

Fight club is heating up tonight.... well it was anyways....

Wed, 05/07/2014 - 18:37 | 4737566 One And Only
One And Only's picture

Is there anything that is not a terrorist threat?

The government and media make me feel like I'm constantly being attacked by terrorists. This can't be what freedom is.

Was this comment a terrorist threat? Not sure anymore.

Wed, 05/07/2014 - 18:37 | 4737573 McMolotov
McMolotov's picture

If freedom's just another word for nothing left to lose, we're getting pretty fucking free.

Wed, 05/07/2014 - 18:42 | 4737597 Slave
Slave's picture

Then they're gonna make it really easy to fight for.

Oh damn, there I go being a terrist again.

Wed, 05/07/2014 - 18:44 | 4737603 ebworthen
ebworthen's picture

"Oh Lord, won't you buy me, a Mercedes Benz?"

Wed, 05/07/2014 - 19:04 | 4737671 AlaricBalth
AlaricBalth's picture

All my friends drive Porsche's.

Wed, 05/07/2014 - 19:26 | 4737752 Global Hunter
Global Hunter's picture

If you get a contract to provide the federals with some bullshit study about terrorist threats or useless software to track the law abiding citizens you could afford both the Mercedes Benz AND the Porsche-uhs.

Wed, 05/07/2014 - 19:46 | 4737837 chumbawamba
chumbawamba's picture

That's a good idea.  Set up a front company that masquerades as a serious government contractor but in actuality is a front for an organization that exposes the corruption and absolute cronyism that has become the US "government".  Get a bunch of contracts, make a bunch of money, leak a bunch of secrets.  It's a plan only a bankster could appreciate.

I am Chumbawamba.

Wed, 05/07/2014 - 20:33 | 4737980 Haole
Haole's picture

Now that he's out of jail after his trumped-up conviction was overturned, Weev is doing something along these lines.  Altogether legally at this point too despite openly disclosing his strategy to ruin companies' capitalization with leaked information resulting from "research" with his new short equity hedge fund.  If you haven't heard about it you might like the story. Literally revenge of the nerd.

Wed, 05/07/2014 - 20:50 | 4738072 chumbawamba
chumbawamba's picture

Yep, watched an interview of him yesterday.  I hope he's prepared to swim with the sharks.

I am Chumbawamba.

Wed, 05/07/2014 - 20:31 | 4737997 Urban Roman
Urban Roman's picture

I must make amends.

Wed, 05/07/2014 - 18:58 | 4737656 FieldingMellish
FieldingMellish's picture

"Terrorists just hate our freedom."

Wed, 05/07/2014 - 20:40 | 4738037 yellowsub
yellowsub's picture

The gov't hates our freedom too.

Wed, 05/07/2014 - 19:26 | 4737746 A Nanny Moose
A Nanny Moose's picture

...but....they h8 us because we are free!!!

Wed, 05/07/2014 - 18:36 | 4737568 BigInJapan
BigInJapan's picture

Fucking geniuses. You elected him...

Wed, 05/07/2014 - 18:37 | 4737570 midtowng
midtowng's picture

You mean like how Bitcoin is a scam? That never stopped them before

Wed, 05/07/2014 - 18:38 | 4737572 resurger
resurger's picture

Someone in a previous post said buying BTC at $400 is a bargain!

Wed, 05/07/2014 - 18:43 | 4737602 fonestar
fonestar's picture

That's right.  Might go a bit lower into the $300's but we are going to be rallying again soon.

To the moon!

Wed, 05/07/2014 - 19:06 | 4737678 negative rates
negative rates's picture


Wed, 05/07/2014 - 18:40 | 4737583 unplugged
unplugged's picture

I always knew fonestar was a terrorist - just knew it !

Wed, 05/07/2014 - 18:45 | 4737606 fonestar
fonestar's picture

fonestar became involved in Bitcoin because this was my true vision of the internet dating back to the 90's and the crypto-anarchists!

Wed, 05/07/2014 - 19:19 | 4737686 813kml
813kml's picture

Yours and Al Gore's after he personally plugged in the internet's first router and downloaded the first cat video.

Wed, 05/07/2014 - 19:52 | 4737864 willwork4food
willwork4food's picture

Wait, that was before he discovered global warming, climate change and the rights to tax air right?

Wed, 05/07/2014 - 21:27 | 4738214 sleigher
sleigher's picture

he didn't plug it in, he soldered the chips onto the board and programmed them with his own code.  At least get the story right.

Wed, 05/07/2014 - 18:41 | 4737584 grid-b-gone
grid-b-gone's picture

Not much different than confiscation of gold in 1938. 

1. Determine how commoners can beat the official (legal) counterfeiting of the currency in progress.

2. Make that illegal and backed by the threat of prison.

3. Keep debasing the currency at will.

Wed, 05/07/2014 - 19:17 | 4737715 hot sauce technician
hot sauce technician's picture

The MSM likes to tout FDR as one of the greatest presidents ever. What a crock. The man was heartless.

Wed, 05/07/2014 - 19:30 | 4737766 A Nanny Moose
A Nanny Moose's picture

History favors the tyrants like Washington, Lincoln, and FDR. The more murderous the better.

Wed, 05/07/2014 - 18:41 | 4737586 BiteMeBO
BiteMeBO's picture

Now that's what I call a lazy eye.  

Wed, 05/07/2014 - 18:41 | 4737588 Yen Cross
Yen Cross's picture

  WTF is a (CTTSO)?   The fucking U.S. .gov has become a giant game of 'Scrabble'...

 Alphabet soup with loads of pork!

Wed, 05/07/2014 - 18:46 | 4737589 One And Only
One And Only's picture

Rats are terrorists.

DOD to begin investigating rat threat to the homeland.

Wed, 05/07/2014 - 18:49 | 4737626 Slave
Slave's picture

Agreed, starting with Henry Waxman.

Wed, 05/07/2014 - 18:41 | 4737591 Barry Freed
Barry Freed's picture

Didn't that guy already get melted when they Indiana Jones opened the Ark?

Wed, 05/07/2014 - 18:51 | 4737632 tip e. canoe
tip e. canoe's picture

good one

Wed, 05/07/2014 - 19:16 | 4737707 Lone_Star
Lone_Star's picture


Wed, 05/07/2014 - 19:45 | 4737834 fonestar
fonestar's picture


Wed, 05/07/2014 - 19:16 | 4737708 Lone_Star
Lone_Star's picture


Wed, 05/07/2014 - 19:15 | 4737709 Lone_Star
Lone_Star's picture


Wed, 05/07/2014 - 18:43 | 4737595 Stoploss
Stoploss's picture

All your bitcoin are belong to us!

Wed, 05/07/2014 - 18:43 | 4737596 Frank N. Beans
Frank N. Beans's picture

Just like the medieval church, which put fire to those 'heretics' with ideas they didn't quite understand (e.g., Earth goes around the sun) or that might upset their grip on society. 

Wed, 05/07/2014 - 18:43 | 4737601 Laughinggrizzley
Laughinggrizzley's picture

The last gasp of a dying empire.

Wed, 05/07/2014 - 18:46 | 4737610 Its_the_economy...
Its_the_economy_stupid's picture

As a phrenologist, I would love to get my hands on that skull.

I could write a book on the criminal presentation.

Wed, 05/07/2014 - 18:46 | 4737611 NickVegas
NickVegas's picture

Replace bitcoin with physical FRN, and reread the article. Anything transaction between private parties that doesn't involve the elite as a middle man will be labeled terrorism and criminalized.

Wed, 05/07/2014 - 18:50 | 4737630 Its_the_economy...
Its_the_economy_stupid's picture

"Will be"??

Already is. Just get caught w $10K in your pocket and see what happens to you.

Wed, 05/07/2014 - 18:46 | 4737615 Bugsquasher
Bugsquasher's picture

Most likely scenario is that these CTTSO dirtbags have a grossly overinflated budget to go along with an agenda being dictated from the White House.  Faced with a "use it or loose it" situation they pull targets out of their ass.

Wed, 05/07/2014 - 22:47 | 4738456 Prisoners_dilemna
Prisoners_dilemna's picture

I distinctly remember hearing the Officers/Administrators say,

"If we don't spend it all this year we will get less next year".


That's how I ended up with 2 pairs of Oakleys, a surefire, A benchmade switch blade, oodles of Under Armour, and the list just goes on and on.

The military equivalent of a boating accident is a "combat loss".


Thanks taxpayers for the free shit.  Fuck me now that I'm a tax payer.

Wed, 05/07/2014 - 18:47 | 4737618 Z_End
Z_End's picture

International parteners... Rather telling...

Wed, 05/07/2014 - 18:52 | 4737637 tip e. canoe
tip e. canoe's picture

sure is

Wed, 05/07/2014 - 22:04 | 4738296 UselessEater
UselessEater's picture

As usual Aust stupidly appears in the list, compliantly being used with pride.

Wed, 05/07/2014 - 18:49 | 4737621 unplugged
unplugged's picture

fiat $US are a terrorist threat

TBTF banks are a terrorist threat

Congress is a terrorist threat

The Executive branch is a terrorist threat

The Supreme Court is a terrorist threat

The CIA is a terrorist threat

The NSA is a terrorist threat

The FBI is a terrorist threat

The EPA is a terrorist threat

The UAW is a terrorist threat


Wed, 05/07/2014 - 18:48 | 4737622 Its_the_economy...
Its_the_economy_stupid's picture

"You should thank God for bank bailouts. Now, if you talk about bailouts for everybody else, there comes a place where if you just start bailing out all the individuals instead of telling them to adapt, the culture dies...

There's danger in just shoveling out money to people who say, 'My life is a little harder than it used to be.' At a certain place you've got to say to the people, 'Suck it in and cope, buddy. Suck it in and cope.'"

-Charlie Munger

Wed, 05/07/2014 - 19:09 | 4737682 RaceToTheBottom
RaceToTheBottom's picture

Senile Ass wipe Wall Street apologist.

Wed, 05/07/2014 - 19:56 | 4737880 willwork4food
willwork4food's picture

Yea, he's older than dog shit, but he certainly knows which side of his bread gets buttered on.

Wed, 05/07/2014 - 22:08 | 4738311 Otrader
Otrader's picture

It's heartwarming to know that this old monkey will be dead soon and 6 ft under.  A forgotten memory in the minds of those who stood around him while he pulled lies out of his ass.  He can't take any of the wealth he stole from the working mem/women with him when he finally departs.   He too will be crawling with the war pigs on judgement day.  He is bankrupt now and does not even know it.



Wed, 05/07/2014 - 18:49 | 4737629 Gringo Viejo
Gringo Viejo's picture

All my metals are gone. Bought FRNs with them. 

NSA....please take note.

Wed, 05/07/2014 - 18:57 | 4737648 Bárðarbunga
Bárðarbunga's picture

What's next? Maybe they'll outlaw the Silver Eagle. Too many transactions cannot be documented. Hell, they've done that with the Liberty Dollar. Bitcoin next. Shit, don't be surprised if silver dimes get on the list.

Wed, 05/07/2014 - 18:59 | 4737657 nmewn
nmewn's picture

Everyone knows I'm no fan of BitBux but this is right up there with declaring "manmade global warming" a national security

Wed, 05/07/2014 - 19:01 | 4737664 fonestar
fonestar's picture

Bitcoin is the greatest threat to TPTB bar none. 

Wed, 05/07/2014 - 19:16 | 4737711 shouldvekilledthem
shouldvekilledthem's picture

Well said Mr Fonestar.

Bitcoin is the greatest revolution in history. I wonder when will the peasants (like the commenters here on ZH) realize this. 


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