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WTF Headline Of The Day: Blythe Masters' Ex-Husband Launches Offshored Bitcoin Hedge Fund
Submitted by Mike Krieger of Liberty Blitzkrieg,
Blythe Masters is perhaps the most maligned human being on earth by silver investors due to suspicions of JP Morgan’s manipulation in the silver market. Well she’s back in the news, but it has nothing to do with silver. Rather, the news relates to the fact that her ex-husband and commodities traders, Daniel Masters, has just launched a Bitcoin hedge fund from the island of Jersey, a British Crown dependency.
We learn from Newsweek that:
Daniel Masters, a 50-year-old veteran commodities trader, started working for some of the largest companies in the world right out of university, trading in London, New York and Zug, Switzerland, for JPMorgan Chase and Phibro before moving on to the New York Mercantile Exchange, a short walk from Wall Street. By all appearances, it was your standard Wall Street career.
Then, in 2008, he moved to a tiny island off the coast of France called Jersey, which this week opened its doors to the island’s first fully regulated Bitcoin hedge fund—run by none other than Masters himself—as part of a push to create a nascent Silicon Valley in the heart of the English Channel, replete with government-funded entrepreneurial hubs and startup accelerators.
No sooner did word of the offshore Bitcoin fund get out than Reddit spluttered to life, devoting two pages, here and here, to debating whether the virtual currency’s baby steps into the institutional investing realm is really good news or bad news for Bitcoin, whose meteoric rise has thus far been mostly successful in eschewing traditional finance.
Masters, co-principal of Global Advisors Jersey Ltd.—which trades up to $2 billion of energy and equities—is the latest of a handful of fund managers trotting out new Bitcoin investment funds in recent months, as investors clamor for innovative ways to skim the froth off the digital currency’s impressive, if often unpredictable, price pops and drops and, occasionally, collapses.
He believes Bitcoin’s prices will stabilize as the currency and technology mature—similar to what has happened over the past decade with oil—but in the meantime, he estimates the value of Bitcoin could rise to $2,000 or more. “Right now, Bitcoin has about 1,000 percent annualized volatility,” he says. “Compare that to oil at 15 to 20 percent and stocks at 10 to 15 percent.” In other words, the potential upside, in the eyes of an experienced trader, are too appealing to resist.
Speaking from CoinSummit in London, Simon Hamblin, CEO of Netagio, a year-old U.K. company that specializes in secure Bitcoin storage and is a custodian for the Bitcoin fund being launched by Masters, says any fund must take numerous precautions to guard against the loss of Bitcoins. “We keep our Bitcoin in cold storage, in different forms both physical and media, and always keep it offline, heavily encrypted and in multiple locations,” he told Newsweek.
This week, Netagio, based in the Isle of Man—a Crown dependency, like Jersey—announced the debut of a London-based Bitcoin exchange that will allow individuals to trade Bitcoin against the British pound and gold. Netagio spun off this spring from Jersey’s GoldMoney Network Ltd., which stores $1.4 billion of metals in five undisclosed locations for clients across Europe.
I covered GoldMoney’s move into Bitcoin earlier this year in the post: GoldMoney Adds Bitcoin to its Suite of Services.
Hamblin, who says he stumbled into finance from a more technical field, sees Bitcoin as the “perfect merger between technology and finance.”
Masters, the former spouse of another commodities kingpin—JPMorgan Chase’s recently departed global head of commodities, Blythe Masters—says the Jersey Bitcoin fund will target up to $200 million in Bitcoin investments in the first six months to a year and ramp up from there. The fund went through a yearlong approval process via the island’s regulator, the Jersey Financial Services Commission, which offers a more streamlined process than New York and London do, Masters says. He adds, “In Jersey, you have one person playing sheriff instead of a dozen.”
“Imagine being able to walk into a car dealership, scan your phone over the price tag of the vehicle you want, and, in an instant, you’ve paid, you’ve updated your car’s ownership information, insurance, vehicle registration,” Masters says. “You jump in the car, you drive off, you never have to speak to a single person.” Because a Bitcoin wallet can be attached to inanimate objects, as well as carried on phones, the possibilities are endless, he says.
“Finance is one of the few industries that is still in need of a disruption,” he told Newsweek.
He’s exactly right. All year, I have maintained that Bitcoin was unlikely to make a major move higher until the summer. Well summer is here, and whether you like it or not, Wall Street is moving in.
Full article here.
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Bank of England disagrees with you:
http://www.zerohedge.com/news/2014-03-19/bank-england-goes-austrian
Banks create a deposit record AFTER they get the borrower to sign a promissory note. They do not need deposits to make loans.
You did not read my comment. I did exactly write the same.
Nonetheless deposits are required by regulation, which is something different. So a Bitcoin bank will need Bitcoin deposits, otherwise the regulator will shut down this bank.
"Unfortunately there is a big push to create a bitcon credit market including bitcon credit cards - those are IOUs."
And this would be imposible with PMs?
Most, if not all of the flaws pointed out by PMers about bitcoin are also flaws of PMs, or anything that is used as currency, for that matter.
If there is a derivitive on something, the only safe place to be is to own the aforementioned something.
Long winded way of saying 'if you can't hold it you don't own it.'
Can't hold what? Bitcoin? I absolutely can hold bitcoin. I can hold an FRN, too. I can hold your cock, but it doesn't mean I own it.
There is no evidence Bitfinex practices fractional reserve. Bitfinex does practice peer-to-peer lending. If you open a long position on margin you borrow non-hypothecated USD from a lender at his stated interest rate. Bitfinex then buys bitcoins on market with those USD. When you close your position Bitfinex sells bitcoins on market, pays back the lender and you pocket the difference. When you short on margin you borrow non-hypothecated bitcoins that are then sold on market and when you close Bitfinex purchases the coins back, returns them to the lender, and you pocket the difference. Please show actual evidence to the contrary. Nobody is forced to offer loans and nobody is forced to take loans. Traders can and do get margin called and wiped out using this system when the market moves against them.
Huobi just opened a similar site too - www.bitvc.com
This is the future of p2p lending and will replace todays failed models of prosper and lending club.
tmosley Can't rehypothecate bitcoins, and there's not much point in putting them in a bank where they can be.
---
So you are saying I can't go to one lender and put my bitcons up for collartoral to get a loan, then go to another lender and get a loan using the same bitcons as collateral? You need to re-learn rehypothecation.. Reypothecation is simply fraud. Any asset or money can be used for fraud, including bitcon.
if the first lender has the slightest amount of sense, he will take posession of the collateral when giving the loan; once he has posession they can't be used by the borrower as collateral a second time.
it's really not that hard a concept.
stacking12321 if the first lender has the slightest amount of sense, he will take posession of the collateral when giving the loan; once he has posession they can't be used by the borrower as collateral a second time.
it's really not that hard a concept.
---
Really great thinking. However in the REAL WORLD, we have seen many articles showing that banks are more interested in providing loans on questionable assets. Why don't you understand that?
clearly, there is a best-practice case of how one would go about providing a loan against a bitcoin collateral.
the fact that there currently existing financial institutions are corrupt and broken are not a fault of bitcoin.
it is intellectually dishonest to try to conflate these two issues.
No, you can't. The bank can, but you can't.
And what, exactly are you getting a loan in? FRNs? PMs? If bitcoins were to become a more universally accepted medium, why would you use bicoins as collateral? Would you put up FRNs as collateral to get a loan in FRNs?
" Would you put up FRNs as collateral to get a loan in FRNs? "
I know idiots that do that all the time. When I ask them if the like giving the bank a spread to use their own money the answer I get most often is they are more likely to repay the bank than repay themself. To each their own.
Ahh, but that was the whole point of the key article. A bitcoin based hedge fund.
Analogous to gold: if it is in your possession, it isn't rehypothecated. If you have a wallet address, and secure possession of the key, then you possess any bitcoins contained therein. If your bitcoin is in a BTC-e wallet, then it can be rehypothecated or stolen.
For example, Mtgox seems to have attempted some fractional-reserve banking with bitcoin. And finally, Karpeles could not cover his obligations in either currency and is now in hot water with the Japanese financial authorities. Maybe, if his timing was better, who knows?
But that was essentially rehypothecation. It takes really good political connections to simply steal and get away with it.
Holy shit!
Fonestar was married to Blythe Masters?
Poor guy...
Why is this a WTF headline ?
The Financial Maniac Alchemists will do anything to make a buck. Or create one out of thin air.
Same as it ever was. Birds of a feather....and all that.
Doggy style with Blythe. Wit' a silver condom. Juzz need to git it in there. Somehow. Tyler, can you help?
For How long Will People Trust Fiat Money?
https://www.bullionstar.com/article/for%20how%20long%20will%20people%20t...
I just shit my pants.
I just shipped my pants.
https://www.youtube.com/watch?v=hL4lSavSepc
If you like your bitcoin, we'll coopt your bitcoin.
we'll coopt your bitcoin.
I'm sure that's the plan, but it's a lot harder to do with BTC than with silver.
Not at all impossible, however. If you want a coin safe from enemy control you need Monero (XMR).
If you can't beat them, join them.
Get hip Zero Hedge, Bitcoin is an NSA product. Read the original thesis here.
http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsa...
Bitcoin is an NSA product.
This bullshit of yours has been refuted half a dozen times.
Who are you working for?
who is Satoshi Nakamoto and who does he work for?
He lives in SoCal and has trouble paying his bills. Leave him alone!
Is he a skateboarder on the beach walk ollie'ng over the homeless?
That's his weekend job. On weekdays, he works as one of the dudes at Venice Beach trying to peddle his homemade rap for five bucks.
He lives in SoCal and has trouble paying his bills. Leave him alone!
That's because no one accepts his stupid Bitcoins. Serves him right.
I heard it's #2.
https://www.youtube.com/watch?v=J-YVt4gfquA
It doesn't matter. The code is open source.
History has shown it takes many years to find the NSA backdoors. Building from another's post:
Bitcoin is built on SHA-2, the 6th generation of published NSA cryptology hash's, all of the previous 5 generations were open source and all were eventually discovered to contain unpublicized mathematical backdoors.
In 1989 the NSA released cryptography hash MD2, but it was found to have a mathematical backdoor.
So in 1990 the NSA released cryptography hash MD4, but it was found to have a mathematical backdoor.
Following this revelation in 1992 the NSA released cryptography hash MD5, but by 1996 it was found to have a mathematical backdoor.
SHA-0 was published by the NSA in 1993, but was shortly withdrawn as it was found to have a significant flaw.
SHA-1 was published by the NSA in 1995 and was used by everyone until 2010 when it transpired a weakness in the hash that had been the subject of various attacks since 2005.
The latest NSA published cryptography hash is SHA-2, which is what Bitcoin is based on.
MD2 was open source.
MD4 was open source.
MD5 was open source.
SHA-0 was open source.
SHA-1 was open source.
SHA-2 is open source.
-------
The rest of Bitcoin cryptography consists of RIPEMD-160 and secpk1. RIPEMD-160 is hackable (as is SHA256):
https://blog.skullsecurity.org/2012/everything-you-need-to-know-about-ha...
...and secpk1 is not fully rigid, leaving room for an NSA backdoor.
http://safecurves.cr.yp.to/rigid.html
A concept too simple for bitcoin lovers to accept.
The benefit of open source code is everybody can hack on the inner workings looking for flaws and possibilities for improvement, each iteration more resilient and powerful than the previous. Currently the U.S. government (like Bitcoin) requires the SHA-2 family for most all of their systems (nuke arsenal, power grids, etc). Nothing is perfect, even Bitcoin.
That's correct. Bitcoin was designed as the succesor to the paper fiat currencies that will fail in a matter of days. The idiotic sheeple will fall once again for the trap. They can't say they weren't warned.
There will always be those who will defend their oppressors (Stockholm syndrome) and deny the truth that BC is a Rotschild/NSA operation.
An all electronic currency system is the wet dream of most governments. Doesn't take too many brain cells to figure it out.
It's coming alright.
An all electronic currency system *under their control* is the wet dream of most governments
There. Fixed it for ya.
Then create one thats NOT under their control.
It's already there.
>Not understanding the difference between limited issue, mined cryptocurrency and centrally issued, unlimited cryptofiat.
Tell me, do you know the difference between astronomy and astrology? Alchemy and chemistry? Physics and metaphysics?
Your a moran. Of course I know the difference. Both Bitcoin and fit money is a way to rob YOU of your wealth.
Your a moran is a joke, btw.
Cool, another chance to junk ya.
I junked him for bad spelling. Bad sense of humor too.
;)
Tell me, do you know the difference between astronomy and astrology? Alchemy and chemistry? Physics and metaphysics?
Who taught you how to use analogies?
I bet teaching you analogies was like sticking your dick in the mashed potatoes.
Well, they got one thing right:
" Finance is one of the few industries that is still in need of a disruption,” he told Newsweek."
May I extend that to "Creative Destruction"
What could possibly go wrong? /s
"Hey you, yeah, you. Come on. You. Come and get me. Come on. JP Morgan chase me. Come on."
"I have 1 Billion dollars and I don't know what to do with it, any advice?"
Guess what I am?
A mark?
Blythes Master's Baiter.
......aaaaand they bit
Everytime Blythe and Danny had sex, a cute puppy died.
When they got divorced, was Satan happy? Or disappointed?
She can only reach full orgasm while strangling a kitten, simultaneously drowning a hamster and deep throating Turd Ferguson's anaconda.
She sounds like a hot Saturday night date, but you wouldn't want to bring her home to meet mom.
Blood orgy?
It actually has sex ?
Oh Lord, what's next?
London Whale Bruno Iksil's 10-yr-old nephew massively shorts CDS's (Crayola Default Swaps) as president of his 4th grade Math & Physics Club, blowing out the market on Electric Lime and Burnt Sienna ?
BITCOIN is a pyramid scheme that holds exponential risk for anyone dealing in it. Masters will likely be the next 'banker suicide' on the growing list of too-stoopid-to-think TSTT bankster deaths IMHO. These fraudsters
are too fixated on wealth transfer to see the forrest from the trees that are about to come crashing down on their fucking heads BIG time. I'm
shocked that Tyler publishes this crap-O-la and I hope Z/H users are
brighter than this and take this crap-O-la with a tablespoon of salt.
NOTE: You have been warned Z/H and when this blows up I will remind you that I warned you all.
OCCUPY BITCOIN - OCCUPY JERSEY - OCCUPY EVERYTHING except Tyler's brain.
You just went full retard.
If bitcoin is a pyramid scheme, then so are ALL currencies, including gold and silver.
Rather than that, I think it is more likely that you just don't really know what a pyramid scheme is.
State is the mother of all pyramid schemes.
.. or maybe the church.
Definitely church. Hell, they invented the pyramid.
Back in those days, church and state were the same thing.
Why is it a ponzi, though?
I view it, fwliw, as a great idea in theory, but in practice, one that would have been immediately fucked with and manipulated by the same people capable of doing so with FRNs.
And I agree with the comment about PMs, but in the short term... you know a lot of the money banks are sitting on could wind its way into bitcoin in the short and midterm. although.... maybe some buybacks havemade some things more attractive.
Ahh haaa I told you so, blah blah..fvk you
Since I never bought into silver is it okay for me to still think she is kinda hot?
I thought so too until I googled her image. Not so hot. Shark eyes. It looks cold in there, not hot. And the larger photo of this article's thumbnail allows you to see that it sure wasn't WB that Photoshoped the bird arm. Sloppy job.
Oh, I'm sorry... You assumed I had standards....
Well, at least now no one can accuse bitcoin of being manipulated by the usual suspects.
Fuck you Blythe Masters'
Nice job Ann, had forgot about you. You remind me of my roll with my punches wife or get verbally punted. You’re passionate, well spoken. Keep up the important venue.
Pt.5 of 8
http://www.youtube.com/watch?v=u0m6Sy7DTrY&index=9&list=UUHMJsns2MeqLv6m7S30AgVw
Don't know Ann. +1 for the link. Learned a couple of things. I also like how she is direct, but polite with her words, until she gets to Obama... and then the she cuts loose.
Someone on the NSA Thread mentioned her last night. Watched the 2.5 hour video today, have a better handle on repos. That was my weakness. Everything else was understood. She'll make a good professor, combining financial discussion and comedy. Never got bored during the 2.5 hours.
Ah. I just linked the name up. This is the woman who shut down her commodity trading firm [that served mostly farmers] just after the MF Global raid. She realized the system was broken... and actually took action. She put her clients ahead of her own personal interests. +1000 to Ann!
Edit: Correction: She served ranchers as well... cattle futures and whatnot.
Suggest you watch the 2.5 hour segment. Most of the time, spoke ahead of her video statement before she talked. Banking repo understanding was my white rabbit misunderstanding. Cleared up now.
I'm actually going through it now. She is brilliant. And fearless. She actually brings in the idea of integrity and morality as the root of the problem. It's all fine and well to end the fed, and that will help a lot, but that won't kill the hydra. It will just manifest elsewhere. As long as mankind is imperfect (subject to corruption), our systems of governing ourselves, and our monetary/financial system will be imperfect. She has the balls to get underneath that and peel off a layer or two.
Again, I forgot about Tyler running this story. The person on the the NSA tread takes full credit. I smacked my forehead this morning, Atomizer forgot about this person. Smart woman, just like my wife. ;)
If you are still following this thread...
I think it is helpful to temper Ann's remarks by noting that Ann is mad. She is an angry woman. She quotes Carl Denninger, who is really angry. She wants to put Jon Corzine (former head of MF Global) against a wall and execute him (after quoting the Bible earlier).
That is all fine and well. She has a perfect right to be mad. We all should be mad. And she certainly has a right to be mad at Corzine, as he changed her life as she knew it. But when a person is angry they are generally not thinking. A strong emotion like anger can block new information from coming in. And that in turn can pull one away from the truth. From seeing things for what they are.
My point. Just that anyone listening to her should be mindful of that. She is awesome, but there are some chinks in her armor (she's incorrect on a few points). She's sort of doing her therapy, standing in front of the room and letting it all out. I am getting interested in going through some of her more recent material and she what she is up to.
I suspect she may not be aware that Jon Corzine did her a huge favor. If in her more recent material she is backing off on his execution and thanking him for his service to her, that would be indicative she has truly benefited from the experience. Not an ez hurdle though.
Libor scandal is what sent me over the edge. We watched it unfold on the airplane TV, heading to Marco Island home. I was so unhinged that day. Calmed down since then. I agree, execution is in order.
how odd. when i heard about libor, it was ho-hum, i'd figured all markets were pretty much manipulated already at that point. i didn't really think much of it, except was happy to hear that the truth of the situation was getting out.
i can't imagine getting worked up about the libor situation, unless it involved you personally.
I'll never understand this unhealthy obsession the Western media has with the "Aryan" female.
I suspect you don't know what "Aryan" means.
It's a completely fantasized concept. Once upon a time, our proto-Indo-Europeans roamed the northern plains, calling each other 'arya.' That is about as close to the truth as we will get. Everything else is fiction.
Dude, recent findings tell us more than that. Turns out 'arya' translates to modern-day 'yo'. Language evolution produces compactness.
Heheh. I use the word "Aryan" sarcastically, because the Nazis used this term to describe people with blond hair and blue eyes, whom they somehow considered to be superior to other people. I'm aware it originally referred to people from the region of Persia.
The media however has a tendency to place such "Aryan" females on a racist pedestal, at the expense of colored & minority women like my wife. So the remark seemed fitting.
Silver anyone?
Silver? Have you heard about this new up and coming stock CYNK?
So what does it stand for?
CYNK your life savings in this dud?
I understand there will be a unit in Master's fund that will be selling shares in derivatives in futures in undelivered, valuable heirloom tulip bulbs, with the goal of taking advantage of the upward potential in speculation. First Tier Qualified Bonafied, Substantial Golden Tier, "Ground Floor to the Penthouse Suite" Investors inquiries are being entertained at a Jersey gala in tops 'n tails wherein you will be invited into the inner sanctum where you may insert your finger (?) into a hole in the bathroom stall and receive a photograph. Past performance ... bla bla bla.
Perfect opportunity for the financiers to rig markets to their advantage. Another looting opportunity. I have no desire to swim with the sharks.
These unusual british islands have always been a haven for jurisdictional arbitrage especially from the money laundering perspective so it is no surprise that they would want to get in to the new way to launder.
On the other hand (says the economist) the float of 21 million coins and Gresham's law should reduce the utility of bitcoin as a laundering mechanism. There aren't enough coins and the desire to hoard bitcoins will only become stronger when all you see is trillions everywhere else.
The secondary (alt) coins will see more use as demand meets scarcity.
Rename Isle of Wright to Isle of Lite? Rename Isle of Dogs to Isle of Doges?
bitcoins are divisible to the 8th decimal place, (and more in theory). So you don't need to buy 1 whole bitcoin. In the future you will trade bits that are 1 millionth of a bitcoin and have 2 decimal places only, like the dollar, to avoid paying 0.00001 for a cup of coffe.
What happened to Phonystar? I miss playing with him.
Perhaps GhOatrider will be willing to hire you as his personal butler after bitcoin's true value is realized by the populace????
lol - funny stuff.
Maybe if I'm feeling generous, I flip him a silver dime to shine my shoes.
"commodities trader".. see newsweek lost me right there. Commodities contracts trader. big fucking difference...
"Commodities contracts traitor." big fucking difference...
Junk Bond Trader
Blythe did nothing to smash silver. All she did was turn that market into a big ponzi scheme. Her mistakes and stupidity are why silver is the only commodity that has this disclaimer on the CME web page:
Price may be managed separately from physical supply.
She wound up a massive ponzi scheme, and massive amounts of silver debt, because she has no understanding of how real markets work.
And something else. The first month of 2013 JPM started putting SLV silver on the COMEX system books. That was when 20 million ounces of SLV was said to be stored with JPM in NY on the SLV bar list. So you can pretty much immediately subtract 20 million ounces from the COMEX supply. I seriously doubt it exists, and suspect it represents silver debt JPM owes to SLV. But if it does exist, it is part of a hoard.
Anyhow. When this new all paper fix system starts on the CME. That is probably when physical will finally depart the CME paper price. The fix was a physical transaction. So it had to go. Nothing is left.
do not knock jersey.
it has sun,sea sex and satan.
lucifer is super popular on that island crime scene.
the german queen of engerlund runs a tight discreet ship.
rock stars,popes,actors and dj's love the discretion.
dead ex primeminister edward heath raped boys then killed them chucked them in the drink (sea).
how many poor children wearing lead boots float down davy's locker jersy way.
the care homes of jersey rich pickings indeed for jimmy saville then the great and the good today.
tax haven with kiddy perks with a right royal crest seal.
with full rothschild kosher paper work ready for your perusal.
Well said Tony. Meanwhile back on the range: http://www.infowars.com/homeland-security-feds-swarm-small-town-in-bizarre-unannounced-show-of-force/
Jersey, D.C., Monaco, Lichtenstein, City of London, Macau, Bahamas, Wall St.! Next stop level 9! (Hell)
Shall we believe that? Newsweek also was sure to have found the real Satoshi Nakamoto.
Wtf indeed.
WHOOAA, just sharted my sweatpants!!! I have always said that once these Wallstreet types jump onboard this will go parabolic. As of today there are only 13,011,025 bitcoins in existence. Do you own one????
The 0.1% are 7 million people. Sorry, no cheap doughnuts here.
Okay, give me 15 minutes to get to the desktop.
I'll bring memories of Cunt Masters.
Here you go..
The Wicked Witch Is Melting
That's her ex, right?
So what does this have to do with her, other than as a hook in the lead?
Work for the Daily Mirror, do we?
Now, now, ZHers demand a circus and, by god, they got one.
"That's her ex, right?
So what does this have to do with her, other than as a hook in the lead?"
It means that the majority of ZH readers are male, and would not turn down the opportunity to bang her like a retard on a bongo drum. Hence the picture on the article lead. Don't knock it, it's a business, not a charity. And clicks count.
OK, we need to split this up; Jersey btc, Satoshi btc, cloud btc and, of course, the physical btc, made of .999 silver.
A true hedger would have both gold and bitcoin,
Both have inherant risks but also the possibility of a moonshot.
You gotta be in it to win it
Blythe Masters has big knockers!!!
There's a redeeming quality about her.
So does the first lady. So what? Big knockers are over-rated. Never understood that. Good legs & ass is all she wrote.
Losts of mastersbeaters on these boards, probably well-deserved.
This is now connected to Goldmoney who store precious metals for clients on the assumption that the fiat currency system will soon fail. Goldmoney have been trying to make a link between their vaults and digital currency for quiet some time. It's likely that they see the potential for bitcoin to be backed by gold and silver in the very near future. Count on it!!
I would put my middle finger up her ass
Bitcons that advocate for a free market forget one thing. Nothing is free, includiing bitcons. Something that is free has no value.
But Google search is free...gmail is free...all those cool Apps I can get for my smartphone now are free....wait
Over Blythe's left shoulder, below the rear view, is that Sheriff J.W. Pepper, or Buford T. Justice ?
That is Bufford T. Pusser.
(deleted)
How are they created?
Who has the greatest computing power at their disposal to create them?
Who has the most to gain by implementing a virtual, non-physical currency?
Do you consider fiat currency a virtual currency yet?
Who has access to and/or can monitor any electronic devices on the planet where a virtual currency would reside?
Is the solution to creating a one world currency something that can more easily be forced on a global society or voluntarily implemented with their consent and possibly even their willing support and cooperation?
Choose. Black? or White? Or does it matter?
Bitcoins are created by solving specific mathmatical problems. This process is and has always been open to anybody anwhere in the world.
The computing power currently being applied is 131,438,788 GH/s. The Tianhe-1A supercomputer can do about 845 GH/s.
The government would need 150,000 such supercomputers to compete. There are maybe 1,000 supercomputers in existence.
Mining is, however, the main risky, revolutionary, untested gambit keeping the Bitcoin experiment going.
People in general have the most to gain by being able to send any amount anywhere anytime cheaply, psudo-anonymously and without asking anybody for permission."Jersey, D.C., Monaco, Lichtenstein, City of London, Macau, Bahamas, Wall St.! Next stop level 9! (Hell)"
Don't forget Aruba, where Natalee Ann Holloway has still not been found. The vatican owns the entire island. When they say I left my heart in Aruba, they are not kidding.
http://www.tomflocco.com/fs/CaribSexTrafficking.htm
Haha I'll take a vanity "told you so moment". Bitcoin becoming JPM Coin. It will probably jump a bit from here but I would be wary of the volatility. Bitcoin was really a BRIC invention. I know this because I was asked to help build it.
The " Master Setup"
What more needs to be said.
Why do you think Bitcoin is now being legalised!
"They" found another way to hoodwink you of your wealth.
0101010101, press return key
dipshit asswipes
Wait until NIRP fucking wipes out your bank account. Your the people who will get shot. Good luck making a 911 call using a Obama phone.
That piece of shit Niger was from Parma,OH. Obama Phone lady..
So glad I left the libreral scene bullshit in Cleveland OH. The mistake on the lake is repeating. Geauga, Medina, and Cuyahoga tax payer bullshit. Glad I left the shit hole. One house up for sale, three more to sell. Landlords always keep contractual obligations. Hence, cannot sell the other properties.
If Bitcoins couldn't be "printed" somehow, Wall Street wouldn't be interested.
Buy gold and avoid them.
A class (less) act.
The crown dependencies are not to be underestimated, small islands with a huge financial industry presence.
Many wealthy people and families are hold up in these kind of quiet, low key places a stones throw from the UK and Europe.
If you are stupid enough to believe the fairytale about what Bitcoin is, how it was created and how it is countercultural to central banking then I have a brass bovine on Wall Street that I want to sell you.
I guess they figured it needed a push if Bitcoin and its offshoots will be the global currency of choice.
Bitcoin actually plays into their hands of moving towards a cashless 'no where left to hide' digital society.
They needed a platform that the general global population would recognise and accept, pending some regulation they may of inadvertently tripped over a way to push their agenda forward.
Bitcoin empowers the people... Send and receive funds to anywhere on the planet at anytime night or day, without asking permission from any bank or government.
Another form of socialism and the bitconers don't even see it.
Bitconers are like the occupy wallstreet crowd. They showed up for a little while. embarrassed themselves and then disappeared. All backed by great emotional socialist ideas (fail).
So... The opposite of socialism is you getting on you hands and knees to beg the man for permission to send/receive funds? #Winning.
Poor fonestar. It's no fun living in the attic when the temp is 10 C above normal. Even his bitcoins have melted. Us smart kids live in the basement.
WTF!
Master bitcoin baters
When can we hang this cunt? Pay-per-view broadcasted worldwide live as the floor dropped out and she swung in the wind would create a nice fund to partially pay back all of the pain and suffering this skank caused.
Bitcoin haters keep hatin'... But they can't stop it!
I know quite a few ex 'haters' , but once they spent some time to understand how the bitcoin system actually works they had an epiphany and now they love bitcoin. I suppose the longer it takes for people to spend some time and learn what bitcoin is then they will remain haters. If you ask many of the haters just look at the price chart and call it a scam. Not one of the haters I have come across ever heard of an s-Curve which may explain as well.
Most ZH's are LOSERS hence ZERO closed-minded morons. I made a fortune on Bitcoin because I took a chance on Bitcoin, a new technology. Most of you blow hard jerk-offs out there are super risk-adverse. All you jack-offs do is critter-a-isze but offer no solutions. Now it is my turn. Did you mommie fold your underwear right? Fonestar is the man!
Apparently bonestar folded his thingy up your ...
There is no evidence but after the fact that bonehead did anything but try to promote bitcon as it was declining from over 1000. The fact you have to start off by name calling and putting others down,shows how weak you are. good riddance to him and all huxsters such as yourself.
A treat for you
https://www.bitstamp.net/404
BS - fonestar was blogging on here when BTC was 10 bucks. Your just another sorry-ass sour grape loser - if you think bitcoin will fail post a screenshot of your short position - you can't can you - all mouth and no trousers just like the other sorry ass Flat Earth haters on here.
Oh! Just gonna cry myself asleep tonight because of your comment. When I'm not kissing babies, I'm stealing their lolipops and your money too. Have a nice day!
Hard to look in the mirror and realize your a loser, right dude! I was bloging on this site when BitCoin was $7.00 99% of the comments regarding the positive outlook I had was met w/ super-negative remarks. Of course, the idiots tried to make their comments as witty as possible. Is that the best you got is attack my sexual orientation! You just another boomarang child-adult living in the bedroom you grew-up in!
They do have solutions which is to store prepper food , lead & PM's in the bottom of some random lake , half of them live in damp bunkers , waiting for the day the govt. shuts down the electrical grid and the internet to stop bitcoin. They think that the Shit will Hit The Fan and they can then be rich and spend their metals in some sort of new bartering type economy straight from the middle ages. They still think the earth is flat and stars are holes in the galaxy with light shining through them. Fuck knows how they will recover their PM's fom the lake when the Shit Hits The Fan because GPS won't be working and they wont be able to navigate to their stash. They slag off bitcoin but not one of them has put up a sceenshot of their bitcoin short position. They are paranoid bullshitters who are scared of the future and fucking stupid as well.