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Bitcoin Default Swaps: Blythe Masters Joins Bitcoin Startup

Tyler Durden's picture




 

About a year ago we wrote that the "farce is complete" when we learned that the former head of JPM's commodities group - Blythe Master - the person caught red-handed in trying to pull off Enron 2.0, and responsible for manipulating electricity prices in California, was about to join the CFTC: yes, the person who created perhaps the most important derivative product of the pre-crash period, the massively levered Credit Default Swaps, was about to become an advisor to the very agency tasked with regulating all derivatives. Just 24 hours later, following a furious public backlash against what is perhaps the most corrupt regulators in the US, the CFTC, Masters withdrew her candidacy from the CFTC.

The reason for the populist fury was not so much that Blythe was caught, and then let go, in trying to pull off another Ken Lay (she got away, he didn't), but due to prevailing anger at the one person who many personify with all that is manipulated in the gold market. Recall that long before the world's biggest banks were busted for rigging precious metals, that Blythe Masters made one of her rare appearances on CNBC telling the channel that "JPM's commodities business is not about betting on commodity prices but about assisting clients"... "it's about assisting clients in executing, managing, their risks and ensuring access to capital so they can make the kind of large long-term investments that are needed in the long run to expand the supply of commodities"

"There's been a tremendous amount of speculation particularly in the blogosphere on this topic. I think the challenge is it represents a misunderstanding as the nature of our business. As i mentioned earlier, our business is a client-driven business where we execute on behalf of clients to achieve their financial and risk management objectives. The challenge is that commentators don't see that.

 

So to give you a specific example, we store significant amount of commodities, for example, silver, on behalf of customers we operate vaults in New York City, Singapore and in London. And often when customers have that metal stored in our facilities, they hedge it on a forward basis through JPMorgan who in turn hedges itself in the commodity markets. If you see only the hedges and our activity in the futures market, but you aren't aware of the underlying client position that we're hedging, that would suggest inaccurately that we're running a large directional position. In fact that's not the case at all.

 

"We have offsetting positions. We have no stake in whether prices rise or decline. Rather we're running a flat or relatively flat matched book.

 

"What is commonly out there is that JPMorgan is manipulating the metals market. It's not part of our business model. it would be wrong and we don't do it."

A year later the London Whale scandal broke out revealing that JPM did in fact have stakes in whether prices rise or decline, and that three years later JPM itself would be - finally - investigated for gold rigging, indicating that it was indeed "part of its business model", and that it may be wrong which is precisely why JPM does it.

Not surprisingly, following the humiliating CFTC episode, Blythe disappeared completely from the public radar. Now, with a one year delay, she has finally reappeared.

That's not the surprising part. What is shocking is the capacity in which she has reappeared. According to the FT, the former JPM commodities head
has re-emerged as chief executive of the Bitcoin startup, Digital Asset Holdings.

The start up is merely the latest legacy bank-funded or staffed operation to attempt to profit from the disintermediated digital currency, and "aims to be a venue for buyers and sellers of financial assets to meet and transact, switching currencies into bitcoin in order to cut the cost and time of settlement and make use of the decentralised “block chain” as a secure record of transactions."

What is Masters' vision vis-a-vis the digital currency and why has she suddenly become one of its biggest advocates?

“There is a school of libertarian ‘visionaries’ who want to imagine a world without big banks, big governments,” said Ms Masters, who left JPMorgan last April. “That’s nice, but completely irrelevant to this business model. We don’t imagine a world in which big banks and big governments don’t exist.”

 

“They say they want the world to change, but the world will change by adopting new technology to do a better job,” she said. Reducing the frictional costs of financial transactions is “one of the great challenges of our time”.

And charge a 3% commission every time the frictional costs are "reduced", she forgot to add.

Blythe said "she had held discussions with the Federal Reserve, the Bank of England and New York’s Department of Financial Services about the venture, though it would not need regulators’ blessing because it was not an exchange, a custodian or a money transmitter." 

In fact it is not exactly clear just what DAH is, which perhaps is just how Blythe and her co-workers want to keep it: "it will admit creditworthy members — such as big banks and asset managers — to trade between themselves using DAH’s technology."

So... a marketplace using Bitcoin? Didn't the Dread Pirate Roberts already try that with Silk Road, minus the "admission of creditworthy members", of course - more like drug dealers and assassins.

How did Masters end up at DAH? That also is unclear: "Ms Masters would not say how much she had invested, nor when the venture would launch. DAH was founded last year by Sunil Hirani, founder and chief executive of trueEX, an exchange for interest rate swaps, and Don Wilson, founder and CEO of DRW Trading, a proprietary-trading firm. The venture has employees in New York, Chicago and Tel Aviv, a cryptocurrency hub."

Perhaps the logo of the company should be "because you know your digital money is safe in Israel"

Joking aside, it sounds like what Masters and her startup are trying to do is implement a form of centralized financial bazaar for all things Bitcoin related: a SWIFT for the digital currency if you will.

“We feel that some of the basic plumbing is missing in the system,” said Mr Wilson of DRW. “Bridging the gap between bitcoin and other cryptocurrencies and traditional currencies is a problem. One settles immediately. One settles over a day or more than a day. Participants in this ecosystem will be able to control who they’re transacting with because it’s within a closed system where we can control who’s in the pool.”

Well good luck with all that, because the whole point of Bitcoin is to keep it as decentralized as possible, and any venture that attempts to streamlne its "efficiencies" is doomed to fail as alternative - and free - services emerge instantly.

Which is why perhaps instead of conducting her outlined business plan, one which is doomed to failure, Blythe should just focus on doing what she does best: coming up with ways to boost the leverage of the underlying product by a factor of 20, and provide a more liquidity, massively levered tool which allows traders to take on positional bets while pretending to "hedge" and without having the required capital outlays. As in Credit Default Swaps.

Perhaps the time of the Bitcoin Default Swap has truly arrived.

Sarcasm aside, what today's latest news reveals is the explanation why back in December 2013, when Masters was still with JPM, the bank mysteriously tried to spawn its own electronic currency alternative.

If you can't beat 'em, join 'em, copy 'em, and then beat 'em. While everyone's attention has been glued to Bitcoin (and its various smaller and less viable for now alternative digital currencies), JPMorgan has submitted a patent which appears to set the scene for a competing centralized network to Bitcoin. As LetsTalkBitcoin noted first, the "Method and system for processing internet payments using the electronic funds transfer network," states that Chase's technology is a "new paradigm." Moreover that it permits the creation of "virtual cash" (also referred to as "web cash") with a "real-time digital exchange of value."

the patent application itself (source USPTO):

It's odd how then JPM and now Blythe herself, are so eager to be part of a currency which has been pitched as the easiest way to transact as far from JPM and its diaspora as possible.

Back then the JPM patent application was rejected. This time around, Blythe may have more luck with her latest attempt at controlling at least a small piece of the Bitcoin pie in the sky...

 

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Tue, 03/10/2015 - 22:05 | 5876200 kamikun
kamikun's picture

As a true-believer in the tech and the promise of bitcoin/the blockchain (and being pretty balls-deep invested wise), this is.... worrying.

Tue, 03/10/2015 - 22:12 | 5876233 wee-weed up
wee-weed up's picture

What better proof of the Peter Principle!

Tue, 03/10/2015 - 22:18 | 5876258 NidStyles
NidStyles's picture

Gresham's Law in action.

 

Buy gold and silver bitchez.

Tue, 03/10/2015 - 22:19 | 5876263 Manthong
Manthong's picture

Well, maybe you can’t easily corrupt the blockchain, but it will sure be polluted a bit with her in it.

Tue, 03/10/2015 - 22:21 | 5876269 Keyser
Keyser's picture

I'm just curious why a house hasn't fallen on this witch... 

 

Tue, 03/10/2015 - 22:37 | 5876325 NoDebt
NoDebt's picture

I smell desperation in Blythe's career path.  This just NOT going to work.  SHE will make money on it, no doubt, but nobody else will.  STAY AWAY FROM THIS.  You will be raped.

Tue, 03/10/2015 - 22:43 | 5876331 stacking12321
stacking12321's picture

nodebt, your posts are usually more thought-out and compelling than this one.

would you also say people should stay away from silver, because of ms masters' involvement in it?

 

it's a bullish sign for bitcoin that masters wants to get involved. not because she will improve the situation, but because she smells money, she knows it's the future of banking.

not that bitcoin needs validation from the likes of her.

Tue, 03/10/2015 - 22:50 | 5876356 seek
seek's picture

I think he was suggesting her particular operation is the threat and will rape its customers, and not bitcoin. I strongly suspect he will be proven right.

I'm involved in bitcoin as well but I sure as hell would be running away from any organization involving her.

Wed, 03/11/2015 - 05:50 | 5876773 GetZeeGold
GetZeeGold's picture

 

 

See the glory..........of the royal scam.

 

 

Alternate title.....how we made air look sexy.

https://www.youtube.com/watch?v=BEDkNAuNCsQ

Wed, 03/11/2015 - 09:45 | 5877154 nope-1004
nope-1004's picture

She's moving to bigcoin because it is getting harder and harder to manipulate gold and silver.  She needs to move to an intangible product, one that has no physical base to it so that no questions about nefarious trading activity or theft can be investigated or traced.  Watch all bankers move into the unregulated side of the market where they can continue to turn their tricks without repercussion.  Sorry, but this is not bigcoin bullish.  This just shows that she sees big holes and room to exploit.

The woman is pure greed.  Get involved with her and you will be left with nothing.

 

Wed, 03/11/2015 - 13:54 | 5878336 Money Boo Boo
Money Boo Boo's picture

 

 

 

 

 

 

c.u.n.t

Tue, 03/10/2015 - 22:51 | 5876358 NoDebt
NoDebt's picture

Even PAPER silver is more real than Blythe's venture into this BitCoin rehypothecation scheme.  If you want to follow her down this rathole, be my guest.  Just don't be surprised if the trap snaps shut on your neck while somebody else makes off with the cheese.

You are NOT as smart, nor as devious as those you are playing against in that world.  And "that world" is more like the wild west than any market you're used to with regulations and government oversight,  pathetic though it may be.  If you're an ordinary Joe, STAY AWAY.  You will get raped.  I am not kidding.  They'll burn you to the ground to make an extra 3 cents.

 

 

 

Wed, 03/11/2015 - 08:37 | 5876984 Save_America1st
Save_America1st's picture

sounds like a pump and dump and Blythe's right in the middle of the fuck-fest.

She's probably acting as a Trojan Horse to go in there and destroy the place and Bitcoin along with it. 

Wed, 03/11/2015 - 14:20 | 5878467 Szabotoshi Nickamoto
Szabotoshi Nickamoto's picture

Destory what place?

Wed, 03/11/2015 - 14:20 | 5878469 Szabotoshi Nickamoto
Szabotoshi Nickamoto's picture

Destroy what place?

Tue, 03/10/2015 - 22:53 | 5876360 permarig
permarig's picture

That this high-ranking criminal is now meddling with Bitcoin could also be an indication of what's to come after the USD/fiat revaluation.
The positioning for the cornering of the market can't start early enough.

By the way, what's up with those handful of Bitcoin wallets holding a large percentage of all coins in existence. Is that still the case?

 

Tue, 03/10/2015 - 23:44 | 5876499 Anonymous_Benef...
Anonymous_Beneficiary's picture

Same angel investors behind IS?

Wed, 03/11/2015 - 09:39 | 5877046 The Wizard
The Wizard's picture

Just wondering if the same moneychangers who have control of the existing fiat game, which is ready to implode, are operating bitcoin. It certainly appears that way. "They" definitely need some alternative.

I agree what Ron Paul said, if I can't put it in my pocket I'm not interested in it.

Wed, 03/11/2015 - 14:22 | 5878478 Szabotoshi Nickamoto
Szabotoshi Nickamoto's picture

Anyone who chooses can 'operate' bitcoin. Do you understand how it works?

Thu, 03/12/2015 - 06:45 | 5880748 crazytechnician
crazytechnician's picture

That is way above their station. These clowns only understand hollowpoints , prepper food and lakes.

Wed, 03/11/2015 - 00:13 | 5876542 putaipan
putaipan's picture

well, news today- (sorry no linky)...80% of all daily btc activity is yuan to yaun.

Thu, 03/12/2015 - 02:42 | 5880564 spqrusa
spqrusa's picture

15% of the active bitcoin being traded by 0% fee exchanges in China makes for 80% of daily BTC. The chinese are shuffling the coin around to prop-up their bitcoin feathers.

Tue, 03/10/2015 - 22:40 | 5876330 DeadFred
DeadFred's picture

Good question. Karma doesn't seem to work real time sometimes. I once worked in a burn hospital and saw a list of the deaths that happened because of the electrical scam that California went through. She beats out Ted Bundy by a country mile. It seems that heating a room with charcoal so your family can stay warm on a winter night without power is a bad idea. So were a lot of other innovations that came to the minds of shivering but not so bright people.

Wed, 03/11/2015 - 03:45 | 5876702 A Nanny Moose
A Nanny Moose's picture

no no no...the house fell on her sister.

Tue, 03/10/2015 - 22:32 | 5876306 kamikun
kamikun's picture

Done and done... I hold about 40% of my net in PMs, and about 15% in BTC. BTC is, IMHO, the more compelling asset.

Speculative as hell, yes; but if it can live up to even a fraction of its promise - a complete game changer. I don't expect to convince anyone here one way or the other. But to get a sense of the excitement that nutbag anarcho-capitalist bitheads have for the system and the currency, try watching this rather laid-back but chock full o' ideas interview with one of the co-authors of The Age of Cryptocurrency, Paul Vigna of the WST. (no jokes about the name...)

https://www.youtube.com/watch?v=mBxiaF2nZT8

There are a lot of equally provocative interviews on that channel. Give it 5 minutes with an open mind. No one is forcing you to use bitcoin -- unlike the USD. And BTC is only backed by the sheer force and will of its users, unlike other currencies that soak in debt and death.

Tue, 03/10/2015 - 22:55 | 5876375 XqWretch
XqWretch's picture

Howd Bitcoin do last year? ...........worst performing asset on the planet. Get out while you can. Mark up a tax loss like Peter Schiff recommends. With all the government bans, people being robbed of their coins, shit is going to collapse.

Tue, 03/10/2015 - 23:05 | 5876409 kamikun
kamikun's picture

Depending on when you invested, and if you view it solely as an investment vehicle - then yea, bitcoin has either given you a return of over 3000%+ in value or it has ripped your face off. Myself, it has been a fun ride - and I've come out pretty much even. And even if it goes to 0 tomorrow, then I'll chalk it up as an interesting intellectual exercise in the core concepts of money and value.

But again - speculative bet. I'm holding onto my cache of coins for 5 - 8 years come what may. Either I'll be spectacularly wealthy or I'll be pretty much where I am today.

Tue, 03/10/2015 - 23:50 | 5876511 XqWretch
XqWretch's picture

Should have sold at that $1300 high... then you would be rich

Tue, 03/10/2015 - 23:50 | 5876510 Pseudonymous
Pseudonymous's picture

A what loss? You don't get it, do you? If you master Bitcoin for your personal or business needs you can avoid or evade most taxes. This is what Bitcoin is about. Financial freedom. Becoming free from taxation (if you've grown to deserve that freedom you can have it). And you don't have to be rich or have any special connections or live in hiding in order to accomplish it either.

Wed, 03/11/2015 - 00:31 | 5876563 XqWretch
XqWretch's picture

Yeah just as long as you didnt buy it at $1300, which many people I know were planning on doing. Free from taxation my ass, every single internet forum is penetrated by government or corruption (Mt. Gox). Good luck man

Wed, 03/11/2015 - 01:13 | 5876599 Pseudonymous
Pseudonymous's picture

It is never a good idea to bet too much at once, without a good understanding of the asset.

As for just transacting in it (which is not a large bet) you can keep your privacy by using an anonymity network like TOR or i2p. There's a lot of economic interaction you can have, or will in the not too distant future be able to have while being independent from any authorities or centers. That said, before you do business with someone you will still need to do some of your own due diligence, as it has always been.

Tue, 03/10/2015 - 23:58 | 5876525 Exponere Mendaces
Exponere Mendaces's picture

How'd gold do? Oh that's right, we're not allowed to criticize the "sanctioned asset" here on ZH.

Move along, just another group of cavemen beating their chests about "AMMO OOK OOK GOLD OOK OOK PREPPING".

As for masters, no shit she's getting involved, because - get this - Bitcoin is actually VALUABLE. But you wouldn't know it from most of the retard commenters on Zerohedge.

 

Wed, 03/11/2015 - 00:36 | 5876569 XqWretch
XqWretch's picture

Lmao, $1300 to $300 in less than a year. How about that VALUE! Gold and silver have been around forever, Bitcoin is some new "asset" on the block, and look how it has done. Governments shutting it's use down, corrupt brokers stealing from their clients, etc. Hence the absolute collapse in it's value. I am not a gold or silver bug but I understand what value means. Some number created on some platform is not worth the shit I take in the morning.

Wed, 03/11/2015 - 03:21 | 5876687 TheHound73
TheHound73's picture

Don't forget that bitcoin is up some 300% from 2 years ago even after last year's speculative bubble deflated.  Yep,  Bitcoin is some new "asset" on the block.  As such the market is having a hard time pricing it and will continue to do so for some time to come.  Value is subjective. Anything that is usefull should have at least some price, no?  The blockchain paints a pretty clear picture that Bitcoin usage has been increasing.

Wed, 03/11/2015 - 10:29 | 5877344 XqWretch
XqWretch's picture

Congratulations! Your shit just became a shit sandwhich! Ive been calling for the end of Shitcoin for a long time. How about investing in something people actually recognize as VALUE?

Wed, 03/11/2015 - 09:48 | 5877172 sleigher
sleigher's picture

"Governments shutting it's use down"

That statement should be what interests people.  Forget the ups and downs.  The threat it poses to the status quo is enough to pique my interest.  

Tue, 03/10/2015 - 23:03 | 5876398 Harbanger
Harbanger's picture

They want in on bitcoin now?  What better proof that dot gov wants full electronic control of all your finances?  When a socialist gov runs out of money or the ability to borrow more money from the future, the plebs will be squeezed for every last bit of cash they have through taxation.

Wed, 03/11/2015 - 00:00 | 5876527 Exponere Mendaces
Exponere Mendaces's picture

And yet you use their banking systems, their currency... wow, you're SUCH a non-conformist rebel. You wouldn't understand Bitcoin if it jammed an ovipositor down your throat and laid an egg in your stomach.

Just more "OOOK OOOK FIAT GOOD OOK OOOK GOVERNMENT IS OMNIPOTENT" from the cavemen.

Wed, 03/11/2015 - 01:41 | 5876636 Pseudonymous
Pseudonymous's picture

 

 

What better proof that dot gov wants full electronic control of all your finances?

They may want it, but what Bitcoin gives us is quite the opposite - full freedom in our finances - thanks to cryptography.

the plebs will be squeezed for every last bit of cash they have through taxation.

And that's why I like and need Bitcoin - it allows me and anyone who gets it not to be a pleb that can be taxed. Bitcoin (and more generally blockchain technology) will be one of the main tools for freedom from taxation - mark my words.

Wed, 03/11/2015 - 08:12 | 5876933 tarsubil
tarsubil's picture

Sounds awesome. I hope it works out like that.

Tue, 03/10/2015 - 23:29 | 5876478 OldPhart
OldPhart's picture

The one that is the biggest prick rises the highest?  (yeah, the highest level of incompetence).

The touch of Blythe makes me more certain that bitcoin is another scam.  I'll pass.  I like to open my cabinet and feel the weight of actual coins.

Wed, 03/11/2015 - 14:30 | 5878518 Szabotoshi Nickamoto
Szabotoshi Nickamoto's picture

There is no hidden information with Bitcoin, the protocol is public, anyone is free to write software that implements Bitcoin and indeed many different people have written their own wallet implementations. If you think it's a scam, it's because you haven't taken the time to understand it or are incapable of understanding it.

Thu, 03/12/2015 - 06:49 | 5880751 crazytechnician
crazytechnician's picture

They are incapable

Tue, 03/10/2015 - 22:23 | 5876273 nmewn
nmewn's picture

Worrying or terrifying?...lol.

Of course, if you do happen to "mine" the very last BitCoin, it'll be worth exactly what the first one was worth.

Scared yet? ;-)

Tue, 03/10/2015 - 22:35 | 5876318 Greenskeeper_Carl
Greenskeeper_Carl's picture

not worrying or terrifying to me. I do not and will not buy bitcoin. Why people who claim to be libertarians or minarchists or anarchists are so enamored with bitcoin remains a mystery to me. And now blythe masters is getting her dirty hands into it. bitcoin, or any all digital currency, is a totalitarian and banker's wet dream. An all digital currency that can be tracked and monitored all the time on every purchase, making sure uncle sam gets his cut via taxes, and with people like her getting their slice as well. No cash allowed. Bitcoin is not the next gold or anything like that, either. Spare me the whole 'security of the block chain' blather. If you have learned nothing else in the past couple years, you should have learned that NOTHING done online is completely secure, and if they decide it is getting in the way, Im sure its pretty simple for an entity like th NSA with virtually unlimited resources to just shut it down.

Tue, 03/10/2015 - 22:54 | 5876368 stacking12321
stacking12321's picture

i can only speak for myself, not others, but why i think bitcoin is great, is that it's decentralized, it doesn't go through any banking system, there's no one to block or reverse a transaction you make.

to be able to move wealth anywhere in the world regardless of govt capital controls is huge, it empowers people and pokes a huge hole in the brick wall of the oppressors.

and yes, bitcoin can be anonymously used, if you do it right.

Tue, 03/10/2015 - 23:04 | 5876404 Greenskeeper_Carl
Greenskeeper_Carl's picture

i do understand, and appreciate, the ability to move money across a border like that. Can't do that with a bank account, thats for sure. And you will get stopped carrying large ammounts of cash or gold, and have it confiscated. But i think you guys have your heads in the clouds regarding this whole anonimity idea. I just don't believe that in this day and age you can do anything in the digital world that is truly safe from the all seeing eye of uncle sam anymore. ANd i think any of you thinking that people like blythe masters and her ilk aren't going to come out on top with something like this are being niave, and a lot of people are going to lose their asses. I do wish you the best, i truly do, and I would love to be proven wrong on this. Best of luck to you all

Tue, 03/10/2015 - 23:47 | 5876507 Harbanger
Harbanger's picture

I remember reading an Article here about a Greek politico that couldn't even get 750K out of his country,  that would maybe buy him a big house in the suburbs.  Funny if it wasn't so sad.

Tue, 03/10/2015 - 22:44 | 5876343 kamikun
kamikun's picture

Considering that the last coin won't be mined until around 2140, I don't think its value is gonna mean a hell of a lot to me one way or the other.

Tue, 03/10/2015 - 23:28 | 5876476 Thirst Mutilator
Thirst Mutilator's picture

The fucking "last coin" will never be mined...

 

Assuming that is like assuming that there will be a "last QE" dollar printed.

Wed, 03/11/2015 - 00:01 | 5876528 Exponere Mendaces
Exponere Mendaces's picture

..... says the retard that doesn't understand nearly 2/3rds of all the Bitcoins mined is approaching very soon.

Do you guys all get together and beat each other with hammers before posting, or is it more of a ZH attracts sub-IQ people?

Wed, 03/11/2015 - 02:21 | 5876657 highly debtful
highly debtful's picture

You really don't like us, do you?

Wed, 03/11/2015 - 03:12 | 5876683 kamikun
kamikun's picture

While I agree with E-Mend's attitude toward bitcoin... he really does seem to be channeling Fonestar on the rebuttal. Calling people morons doesn't really help open up your ideas to them.

Wed, 03/11/2015 - 15:41 | 5878820 maxblockm
maxblockm's picture

Especially when saying "people that post on ZH are morons" while you yourself are also posting on ZH.. 

Thu, 03/12/2015 - 06:51 | 5880755 crazytechnician
crazytechnician's picture

But you are fucking morons

Wed, 03/11/2015 - 01:36 | 5876629 ich1baN
ich1baN's picture

As I have commented earlier... this is the attempt of the new world order control of electronic currencies... I PREDICTED THIS OVER A YEAR AGO! 

I knew somehow JPM and the banks were going to get involved and co-opt themselves with the US Government's large share of bitcoin stash... this isn't a coincidence people. This is all apart of how they will control who will transact, who will buy, and who will sell.

I can't believe this is actually happening..... this is very vexing. 

Wed, 03/11/2015 - 02:36 | 5876668 Pseudonymous
Pseudonymous's picture

The US government doesn't hold much bitcoins. They already auctioned off most of the Silk Road bitcoins and now they have about $13M worth to go.

Could you elaborate on what do you think they would do? What I see is that they could perhaps burn dollars to temporarily manipulate the price one way or the other, to some extent; they could control access to or impose other restrictions to fiat exchange corporations, but they would not be able to stop alternative exchange methods. Basically they could temporarily mess with it, fire some shots that end up in their foot, but they can't stop it. Depending on how you use it you could remain unaffected (some could even profit).

Wed, 03/11/2015 - 01:44 | 5876638 williambanzai7
williambanzai7's picture

Thu, 03/12/2015 - 19:37 | 5883552 shouldvekilledthem
shouldvekilledthem's picture

Bitcoin does not care. They can't create btc out of nothing and the blockchain is public.

Tue, 03/10/2015 - 22:06 | 5876204 Bunga Bunga
Bunga Bunga's picture

If you like your bitcoin derivatives, you can keep your bitcoin derivatives. 

Tue, 03/10/2015 - 22:10 | 5876222 e_goldstein
e_goldstein's picture

Hopefully the bitcoin business will treat Blythe as well as it did Autumn Radtke.

Wed, 03/11/2015 - 05:59 | 5876777 GoldSilverBitcoinBug
GoldSilverBitcoinBug's picture

On the darknet some poeple propose their "service" when someone does shit like her.

Tue, 03/10/2015 - 22:13 | 5876224 battlestargalactica
battlestargalactica's picture

If anyone knows about throwing hotdogs down hallways, it's this top-dollar Muppet-sodomizer

Tue, 03/10/2015 - 22:10 | 5876227 stant
stant's picture

Relax it will be a whale of a good time

Tue, 03/10/2015 - 22:11 | 5876228 Rootin' for Putin
Rootin' for Putin's picture

Fractional reserve bitcoins coming soon!

Tue, 03/10/2015 - 22:15 | 5876247 quartshort
quartshort's picture

Quick! Everyone hide your 0's and 1's!

Tue, 03/10/2015 - 22:21 | 5876270 A Lunatic
A Lunatic's picture

I lost mine in a boating accident in a neighboring pond on Farmville........

Tue, 03/10/2015 - 22:55 | 5876371 seek
seek's picture

Really, I think that probably is her scam. If you do it off the blockchain it will work until it doesn't, same as regular fiat.

From what they've described so far it could easily be a off-chain trading pool. It'll be interesting if they start quoting exchange rates with no blockchain transactions to back it up (and that will be the setup to try and pull a CME price manipulation scheme on BTC.)

Thu, 03/12/2015 - 15:27 | 5882632 JRev
JRev's picture

+10 to you, sir.

However and whenever it ends up being done, an off-blockchain Wall Street ETF pricing mechanism will eventually be established for Bitcoin. The biggest Dollar-BTC exchanges will peg their buy-sell to the new "Blythecoin" rate, and price manipulation of the entire Western Bitcoin economy is fixed overnight. The Bitcoin "community" (if such a thing exists) is too busy cheering on huge VC investments/NASDAQ launches to realize they're simply being wined and dined before the proper ass-fuck.

Thu, 03/12/2015 - 19:41 | 5883563 shouldvekilledthem
shouldvekilledthem's picture

Expext that bitcoin exhcanges cannot peg anything. They have open orderbooks.

The scarcity and frictionless transfers make this scam not viable.

Thu, 03/12/2015 - 22:43 | 5884060 JRev
JRev's picture

Not if the Bitcoin ETF transactions are off-blockchain, and certainly not if your average Joe Schmoe is buying simply to speculate as opposed to use and understand the ecosystem, exactly the type of clients things like the "Winkdex" and COIN on NASDAQ will promote. 

Now, if a competing BTC exchange that had live, on-blockchain pricing were somehow listed on Wall Street, the dynamic would obviously change, but that's about as likely as a true physical metals market being traded, which is to say, ain't fucking happening. 

I love the ideal of Bitcoin, but you need to familiarize yourself with the financial and regulatory measures being used to fuck BTC. If they try, this is how they'll do it, and there are four or five different "Blythecoin-esque" stawks about to launch, simultaneously vying for pricing control over CoinBase, who has already stated they'd rather have Bitcoin priced on Wall Street as opposed to exchanges. The same CoinBase that's currently closing people's accounts for using LocalBitcoins.

This shit is happening NOW, and the brilliance of the blockchain won't stop it until people like yourself quit ignoring the problem. 

Tue, 03/10/2015 - 22:12 | 5876231 Wahooo
Wahooo's picture

She has an eerie resemblance to Bruce Jenner.

Tue, 03/10/2015 - 22:22 | 5876274 A Lunatic
A Lunatic's picture

Well if I had to pick I'd probably take my chances eating Bruce Jenner's pussy......

Tue, 03/10/2015 - 22:25 | 5876285 quartshort
quartshort's picture

OK. Had to put a break in these two posts. Just too sick to leave together. And I lived in Trinidad, CO. for three years.

YW gramps

Tue, 03/10/2015 - 22:12 | 5876232 Uncle Sugar
Uncle Sugar's picture

I'd do her

Tue, 03/10/2015 - 22:14 | 5876238 e_goldstein
e_goldstein's picture

Ever try to lick a flagpole during winter?

Yeah, it's like that.

Tue, 03/10/2015 - 22:57 | 5876380 XqWretch
XqWretch's picture

She has a flagpole?

Tue, 03/10/2015 - 23:30 | 5876481 Thirst Mutilator
Thirst Mutilator's picture

You'll shoot your eye out kid!

Wed, 03/11/2015 - 08:41 | 5876994 e_goldstein
e_goldstein's picture

Nope, but her hymen is made of ice-nine.

Tue, 03/10/2015 - 22:35 | 5876317 Creepy A. Cracker
Creepy A. Cracker's picture

She's hot.  The deal must be legit.

Wed, 03/11/2015 - 04:40 | 5876737 tocointhephrase
tocointhephrase's picture

Give her/it half a chance and she/it will do you harder

Tue, 03/10/2015 - 22:12 | 5876235 saints51
saints51's picture

Well without starting a ZH war between PM's and bitcoin, just get the fuck out of this investment if you can't afford to lose it. Seriously, the veil has lifted and you have been warned.

Tue, 03/10/2015 - 22:16 | 5876248 NotApplicable
NotApplicable's picture

This new operation is going to be digital currency manipulation central.

Tue, 03/10/2015 - 22:12 | 5876236 q99x2
q99x2's picture

Last Price $293 bitchez.

YeeeeeeeHaaaaaaaa The witch is going to offer paper contracts for part of my memory.

Tue, 03/10/2015 - 22:17 | 5876251 Larry Dallas
Larry Dallas's picture

Is over, Boobie.

Someone put fonestar in a death pool now. You’ll make more money.

.gov intervention is here and just like healthcare, its over.

Tue, 03/10/2015 - 22:32 | 5876307 salvadordaly
salvadordaly's picture

fonestar pick up the white courtesy phone please.

Tue, 03/10/2015 - 22:18 | 5876255 nmewn
nmewn's picture

Sooorprise sooorprise sooorprise!

Tue, 03/10/2015 - 22:18 | 5876257 A Lunatic
A Lunatic's picture

All of your alternative currencies are belong to us........

Tue, 03/10/2015 - 22:23 | 5876277 Evil Bugeyes
Evil Bugeyes's picture

Well I must say I never saw that one coming! But, sad to say, I don't think that she will ever be able to do anything worse than inventing derivatives. Kind of like Oppenheimer. After creating the A-bomb the rest of his life was just a postscript.

Tue, 03/10/2015 - 22:24 | 5876279 TheHound73
TheHound73's picture

My my, all this fuss over a measly market cap. of just $4 billion.  Just yesterday a different bitcoin startup landed $116 million in funding.

Tue, 03/10/2015 - 22:32 | 5876309 battlestargalactica
battlestargalactica's picture

Imagine. You can sell and then 'print' all e currency you want with no oversight... Ever inflating. The 'retail investor' is gonna get the big barbed-wire fist of chocolate fury on this, mark my words...

Tue, 03/10/2015 - 23:25 | 5876467 TheHound73
TheHound73's picture

Sure you can print all the battlestargalacticaCoins you want but nobody would buy them.   That bitcoins have any value in the marketplace whatsoever is due in large part because they have a strict issuance schedule (modelled after gold).

Tue, 03/10/2015 - 23:57 | 5876522 TMLutas
TMLutas's picture

Each currency has its own rules. Some are inherently deflationary (BTC is like that) others are inherently inflationary. But unless you have enough miners working, to prevent double spending, the currency doesn't take off. Miner buy in is what makes blockchain instantiations safe and you won't get a lot of buy in if the miners aren't going to make good money off their machine time. 

Wed, 03/11/2015 - 00:04 | 5876532 Exponere Mendaces
Exponere Mendaces's picture

.... says the guy that doesn't understand the millions of clients installed all over the world that enforce the absolute limit of 21 million Bitcoins.

Seriously, do you just ram a nitrous hose up your ass and let it bubble a bit while you post, or are you intentionally fucking obtuse? Maybe you're trying to imitate knukles, the retired finance fuck that made his living ripping off idiots like you.

 

Tue, 03/10/2015 - 22:24 | 5876283 tmosley
tmosley's picture

Seems pretty clear that she just wants to Corzine a bunch of rubes who can't get it through their thick skulls that she is a fucking criminal who no-one should so much as buy a fucking newspaper from, let alone trust with large amounts of money.

Anyone who does business with her deserves what they get. 

Tue, 03/10/2015 - 22:25 | 5876286 Latitude25
Latitude25's picture

Lol.  The bitch really picked a loser this time.  It'll be pretty entertaining watching her crash and burn.

Tue, 03/10/2015 - 22:28 | 5876289 SillySalesmanQu...
SillySalesmanQuestion's picture

This must be Lying Fucking Cunt Day....and they forgot to tell us. Did Janet speak today to complete the trifecta?

Tue, 03/10/2015 - 22:30 | 5876297 Schmuck Raker
Schmuck Raker's picture

"Reducing the frictional costs of financial transactions is “one of the great challenges of our time”."

What can you say after a line like that?

Tue, 03/10/2015 - 22:37 | 5876321 battlestargalactica
battlestargalactica's picture

"Ride me, Mr. Blankfein! Ride me like my name is Comex! Do gods work!"

Tue, 03/10/2015 - 22:38 | 5876327 Son of Captain Nemo
Son of Captain Nemo's picture

What a ringing endosement for bitcoin!!!

"Mount Gox II" here we come!!!!!!

Tue, 03/10/2015 - 22:39 | 5876328 kamikun
kamikun's picture

Well good luck with all that, because the whole point of Bitcoin is to keep it as decentralized as possible, and any venture that attempts to streamlne its "efficiencies" is doomed to fail as alternative - and free - services emerge instantly.

Wow... totally gets it. Who wrote this? I want to subscribe to their newsletter.

Tue, 03/10/2015 - 22:51 | 5876335 oddjob
oddjob's picture

Put this on the stack of reasons to avoid digital currency.

Tue, 03/10/2015 - 22:43 | 5876342 neuronius
neuronius's picture

Instant Industry Credibility? Just Add Blythe Masters.

Shit, I think she just killed Bitcoin!

Wed, 03/11/2015 - 00:06 | 5876534 Exponere Mendaces
Exponere Mendaces's picture

Riiiiight.

This bitch has zero traction to "kill" anything. Remember the Canadian effort to make a electronic currency, "mint chip" or some bullshit? Remember how everyone on ZH was like "OH MAN GAME OVER GOVERNMENT OOK OOK OOK".

Yeah, they pulled that program because it DIDN'T FUCKING WORK. Same here, she'll either make some easy money off of the same rubes that put into ETFs without understanding the underlying, or she'll get "priced out" by other services that aren't charging her rates.

But naturally on Caveman's Hedge, its all "OOK OOOK OOK GAME OVER OOK OK OOOK OOOK".

Fucking morons.

 

Wed, 03/11/2015 - 03:31 | 5876693 Oh regional Indian
Oh regional Indian's picture

Why so angry EM, eat drink and buy bitcoin, all is good.

We are definitely at a time for people to make their calls, take sides so to speak. There is little to no neutral ground and som will sink and others will swim. 

BTC will either win hugely or lose spectacularly, agaiin the nature of this time. All things are at extremes.

A little diversification never hurt, especially if you feel you (one) might need to leave your geography.

No simple answers and BTC is definitely not THE answer to anything.

Plus, it's not like no other un-hackable, super distributed, increasingly complex algo will ever be written. BTC is step one. Ethereum is one example, even though it is a derivative (or even based on) the block-chain. The natural tendency is to build on foundations, that is what we do, as humans.

I for one think a digital version of "-----", my own emerging alternative to currency is IT ;-)

But to the point though, we live in derivative worlds when it comes to value creation, it's what gets written atop the tech and then who comes up with a better foundation that will decide the future of digital money.

Meanwhile, rock out to war-drums, it's what for just desserts!

 

 

 

Tue, 03/10/2015 - 22:48 | 5876348 Chris88
Chris88's picture

Bitcoin: the currency of economic morons everywhere.  Really, if you want to diversify out of fiat why buy this garbage over gold/silver?  Seriously one of the dumbest things I've ever seen outside of Congress.

Tue, 03/10/2015 - 23:00 | 5876387 TheHound73
TheHound73's picture

Pony Expressing gold/silver from my clients in London to my offices in Japan and on to employees in South Africa, Germany and Spain just doesn't work for me.  

Tue, 03/10/2015 - 23:07 | 5876402 Duc888
Duc888's picture

 

 

Thehound73 "Pony Expressing gold/silver from my clients in London to my offices in Japan and on to employees in South Africa, Germany and Spain just doesn't work for me.  "

 

Western Union, Xoom, Paypal, Bitcoins, it's all digital.  Oh, let me guess, you think you can transfer bitcoins anon?

 

How quaint.

Tue, 03/10/2015 - 23:31 | 5876451 TheHound73
TheHound73's picture

Like Chris88 said, "if you want to diversify out of fiat"... so that pretty much disqualifies Western Union, Xoom, Paypal, et al.  Besides, their fees suck and they can go ahead and stuff their "oversight" over my transactions up their ass.

No, using Bitcoin is not perfectly annonymous but it isn't any worse than using Western Union and Paypal, now is it?

Wed, 03/11/2015 - 10:11 | 5877228 sleigher
sleigher's picture

Dark Wallet is coming.  

https://www.darkwallet.is/

Alpha now but will be beta soon enough.  They appear to have solved the anonymity issue.

 

Tue, 03/10/2015 - 23:06 | 5876410 Bay of Pigs
Bay of Pigs's picture

What the fuck is this supposed to mean? That you have no idea how to store your physical assets?

Tue, 03/10/2015 - 23:17 | 5876455 TheHound73
TheHound73's picture

Like Chris88 said, "if you want to diversify out of fiat"... running an international company on phyz is a pain in the ass.

Wed, 03/11/2015 - 14:40 | 5878564 Szabotoshi Nickamoto
Szabotoshi Nickamoto's picture

As is crossing borders.

Wed, 03/11/2015 - 00:26 | 5876558 Pseudonymous
Pseudonymous's picture

It has some quite useful characteristics that make for a unique asset class.

  • You can keep it from being stolen or destroyed by anyone (and I mean anyone), relatively easily (but not by being as careless as most of the people who get their bitcoins stolen due to very poor security practices).
  • Moreover, you can keep transacting while keeping the money well secured.
  • You can do business pseudonymously, allowing you to be free from persecution (e.g. for taxes, "illegal" trade, etc).

That, and you don't have to worry about inflation or many of the other caveats that exist elsewhere. Everything is in the open and Bitcoin thrives or fails on its own merits.

Wed, 03/11/2015 - 09:53 | 5877198 Rollo57
Rollo57's picture

How does that work, when the server goes down, with your coin?

Who do you go and punch shit out of, when you can't access?

Wed, 03/11/2015 - 14:42 | 5878568 Szabotoshi Nickamoto
Szabotoshi Nickamoto's picture

There is no server. That's why it's revolutionary. everyone in the world running Bitcoin compatible software acts as a node. Each node is equal, there is no centralised control by anyone. That's also why Bitcoin is never 'down' and why you don't need an account or permission from anyone to use it.

 

It's like what bittorrent is, compared to napster (which had a server, and got shut down).

Wed, 03/11/2015 - 15:02 | 5878657 Pseudonymous
Pseudonymous's picture

You don't hold anything on a server.

Just as with gold and everything else, if you don't hold it you don't own it. In the case of Bitcoin you want to hold the private keys. If you think you have bitcoins on a server (e.g. MtGox) what you really have is a claim, a.k.a. 'paper'.

The Bitcoin network itself is not made of servers and it would be exceptionally unlikely for it to have any down time in the future, and even if it happened you wouldn't lose your coin.

Tue, 03/10/2015 - 22:57 | 5876382 williambanzai7
williambanzai7's picture

Life is a cabaret my friends...

Tue, 03/10/2015 - 23:10 | 5876419 joego1
joego1's picture

Hyper smart cunt with a block and chain how could humanity possibly suffer from this?

Tue, 03/10/2015 - 23:12 | 5876428 VWAndy
VWAndy's picture

If she jumped in I would be jumpin out.

Tue, 03/10/2015 - 23:27 | 5876463 permarig
permarig's picture

 

Tue, 03/10/2015 - 23:26 | 5876469 Soul Glow
Soul Glow's picture

lol

Tue, 03/10/2015 - 23:28 | 5876472 Millivanilli
Millivanilli's picture

That rusty cunt should be in jail, forever.

Tue, 03/10/2015 - 23:41 | 5876496 Condition 1SQ
Condition 1SQ's picture

Bitcoin?  Oh yeah, the online ledger backed by nothing.  It is digital fiat that inflates according to a logarithmic function.  The same "currency" that is not treated as a "currency" by the IRS, so literally every fucking time you use it, you are obliged to report capital gains/losses.  The same "currency" which features no chargeback or dispute mechanism.  Once you send the coins, that's all she wrote.  The same currency that offers little advantage to me, the consumer, when it comes to purchases.  In fact, I find Bitcoin to be a bigger pain in the ass because of the finality of the transaction.  I speculated in Bitcoin as it climbed from $100 to $1000 and did pretty darn well.  Glad I got out when I did, and it illustrated to me that it is little more than a Ponzi scheme, functionally speaking.  Everyone pumps their money into it assuming they'll pull out before the next guy.  The only problem is, people generally aren't that lucky.  As much as Bitcoiners like to think this is "just like the internet back in 1990", it's just wishful thinking to justify a risky investment.

Wed, 03/11/2015 - 00:11 | 5876540 Exponere Mendaces
Exponere Mendaces's picture

LOL, no doubt you're either the most ignorant person on the face of the earth, or you work for the government - oh wait, probably both.

Only a fool would rail against the non-chargeback nature of Bitcoin. That, or someone so totally inured to the ripoff system in place now -- OR PROFITS OFF OF IT -- that they feel the need to defend it.

Sure thing buddy, stick with your green toilet paper that is being debased as we fucking speak, take a look at the artificially low CPI and tell me with a straight face that prices haven't been increasing as spending power declines.

But you know what?

You've done me a favor. Another caveman moron that can't understand it, so isn't interested. Great - more for me you stupid motherfucker. I can't wait until you see the results, but you'll probably be dead from drowning while looking up during a thunderstorm.

 

Wed, 03/11/2015 - 00:24 | 5876556 RyeWhiskey
RyeWhiskey's picture

BitCON.

Wed, 03/11/2015 - 03:34 | 5876695 kamikun
kamikun's picture

Oh . My . God... "Coin" "Con" They're so close! Why did I never realize that??! It's almost like you are saying that BitCOIN is a BitCON.

*blink*

BRB, I have to go dump everything I've been amassing for the last three years... How could I have been so stupid??!!! Coin / Con!! Thank you thank you thank you.

This board really needs a better caliber of troll.

Wed, 03/11/2015 - 13:31 | 5878217 Condition 1SQ
Condition 1SQ's picture

Awww, somebody is upset!  I don't see any logical rebuttal in here besides "waaaaah!".  Just because the dollar sucks doesn't mean Bitcoin can't suck even more.

Tue, 03/10/2015 - 23:44 | 5876500 Raging Debate
Raging Debate's picture

Anybody remember my comment about Bitcoin soon to become JPM coin? I have no inside information, things are just becoming obvious. Careful of the pump and dump when they plough the funds in. If you trade on it, get in and out quick.

Wed, 03/11/2015 - 00:14 | 5876543 Exponere Mendaces
Exponere Mendaces's picture

I doubt anyone remembers that comment, because if stupid was 1 gram per idiot comment, that one would be a neutron star sitting in the middle of a collapsing galaxy.

But keep trading your ETFs, Bonds, Equities - safe in the knowledge that you're going to "get in and out quick" as a trading plan.

Christ, where do these idiots come from, there's gotta be a rogue cloning operation going on...

Wed, 03/11/2015 - 01:22 | 5876613 Jack Daniels Esq
Jack Daniels Esq's picture

Yellen, Clinton, Masters ... Bruce looks hot

Wed, 03/11/2015 - 01:35 | 5876627 Joe A
Joe A's picture

This woman should be in front of some international court of justice and then send to a gulag. Along with her henchmen/women.

Wed, 03/11/2015 - 02:22 | 5876656 roddy6667
roddy6667's picture

When your money is in Bitcoin, you are only one hack away from disaster. Bitcoin is as real as unicorn tears.

Thu, 03/12/2015 - 02:59 | 5880578 JustUsChickensHere
JustUsChickensHere's picture

Ilinformed.   If you just hold one private key and leave on a computer (online) ... of course you will have it stolen.  Just leave all your physical gold on your window ledge and see how long it is before it gets stolen....

You need to leave a timy amount accessible on a compter for day to day useage .... the rest goes into multiple cold storage addresses/wallets ... and you secure them in multiple locations..... just like you would do with any substantial amount of physical gold.

 

The security tactics needed are identical for physical gold and Bitcoin... with the difference that there can be no counterfeit Bitcoin  ... aka Tungsten bars

 

Wed, 03/11/2015 - 02:37 | 5876670 Victor999
Victor999's picture

Anyone who thinks of bitcoin in terms of 'digital currency', 'investment opportunity', or 'payment system' is missing the entire point of bitcoin and its future capabilities.  Bitcoin is a technology, not a currency.  And that technology has the capability of removing the middleman from virtually all asset transactions.

Wed, 03/11/2015 - 08:02 | 5876914 venturen
venturen's picture

ya good luck with that.

Wed, 03/11/2015 - 03:48 | 5876705 NaiLib
NaiLib's picture

YOu are missing the point here. If B-M and the rest of the former "trading" guys are ever going to make any money from BTC. Market Cap will have to explode first. At least more than 100 times. Not until we are up there , there is nothing to "scam"..

 

Wed, 03/11/2015 - 04:11 | 5876722 Panic Mode
Panic Mode's picture

She either have insider information or connection to rig bitcoins or her career is going downhill quckily.

Wed, 03/11/2015 - 05:22 | 5876762 RaceToTheBottom
RaceToTheBottom's picture

She is trying to become the Citadel of Bitcoin. NSA is very happy

Wed, 03/11/2015 - 06:12 | 5876765 GoldSilverBitcoinBug
GoldSilverBitcoinBug's picture

Oh no that witch is on Bitcoin. The last things that Bitcoin need is her, Bitcoiner should reunite and make margin call on her account.

She nearly destroyed the world financial system with her CDS.

Wed, 03/11/2015 - 06:47 | 5876805 jcaz
jcaz's picture

How the mighty have fallen.....

Next stop-  "Welcome to Walmart"....

Wed, 03/11/2015 - 06:50 | 5876810 Bobbyrib
Bobbyrib's picture

Government agent to bring down Bitcoin should be the headline.

Wed, 03/11/2015 - 10:55 | 5877461 Jameson18
Jameson18's picture

Which government are you talking about. Because she only works for one.

Wed, 03/11/2015 - 07:02 | 5876820 williambanzai7
williambanzai7's picture

You can bet this was not her first or second choice.

Wed, 03/11/2015 - 07:08 | 5876822 nathan1234
nathan1234's picture

Where Blythe goes- Blights Go

And those who think they are very clever and can move in and out timely in their trades or hold Bitcoin will end up OUT.

This Witch does not move to areas without reasons.

Andf though her surname is Masters- she is not her own master. She works for the cabal

 

 

Wed, 03/11/2015 - 07:18 | 5876835 dizzyfingers
dizzyfingers's picture

Imminent swindle, get out while you can!!!!!!!!!!!!!!!!!!!!!!

Wed, 03/11/2015 - 07:52 | 5876891 falak pema
falak pema's picture

maybe they will have to invent a new coin and new brand name like Apple-watch : Bitchcoin and Blythe smartponzi Inc.

The one pushing the other, like iphone and apple-watch.

Brand names and "linkage" is now the new game.

Wed, 03/11/2015 - 08:01 | 5876909 venturen
venturen's picture

will be renamed BITCHCOIN!

Wed, 03/11/2015 - 08:14 | 5876935 Mi Naem
Mi Naem's picture

"Blythe Masters Joins Bitcoin Startup

She's the Anti-Midas.  Bitcoiners, watch out!

Do NOT follow this link or you will be banned from the site!