Most people, even most people in the C-suite of money center banks (the prime candidates for disintermediation), still have no clue as to what the promises, prospects & risks of Bitcoin are. Well, as UltraCoin launches into beta, these become crystal clear!
I crush the JP Morgan Managing Director and Head of FX, John Normand, and his false-factual rant against Bitcoin. Fear, envy & loathing in seeing your bonus floating margin at cryptocurrency risk!
Google reported Thursday later afternoon and the early morning traders didn't know what to make of the numbers - with the stock gyrating up and down. The following day, CNBC's 2nd annual sitck draft stock picking contest ended. Guess what happened? For the impatient, I can put the video here...
That unpopular short Apple/long Google pair trade's still paying in spades. In addition, an hour and a half of nerd celebrity Bitcoin and crowdfuning equiy in startups.
I predicted this clearly, with loads of evidence, last spring. I even tipped the SEC/UK authorities. Tthe chickens come home to roost. Let it be known, Wall Street's margin IS my business model!!!
I go at Krugman again for speaking about something of which he seems to understand relatively little about. I actually have some help this time around, though.
Who said Bitcoin Has No Intrinsic Value? What Is The Value Of Ability To Sidestep The Money Center Banks, The Federal Reserve & The ECB? Here are cogent, coherent, intellectual answers debugging the arguments of pop economists and new media pundits.
Fortune Magazine front page today: Middleton sounds a bit like an 18th-century pirate striking back against the Empire when he declares that "what I'm doing right now is a direct threat to fiat merchant banking."
