Sir Barken Hyena writes:
Well, maybe it’s over, we’ll see, but the Honey Badger has taken a whipping the last few weeks. After a January of unwonted price stability, we hit heavy weather with a “new bug” in Bitcoin. Transaction malleability it was called, and it was not a bug and not new. But it did cause some very real problems, and now in the aftermath (knock on wood) we can see that some people who were going to be very rich, aren’t. And there is a new (fat) face in the Bitcoin rogue’s gallery, Mt. Gox CEO Mark Karpeles.
But also some good guys showed up.
And the media once again demonstrated an almost inspiringly complete ignorance of everything to do with this new marvel. I could forgive that six months ago, but now it shows all the signs of being both willful and malicious.
But, Honey Badger don’t give a shit! Honey Badger just does what it wants.
Sir Barken has been making the rounds of the net’s comment pages, fighting the good fight against the truly incredible amount of pure crapola that is spoken about this subject. Here’s a small sample of some of the floaters the Media left for us:
- Mt. Gox Meltdown Speeds Day When Bitcoin Will Die
- Bitcoin: By The Privileged, For The Privileged
- Bitcoin Is Apparently A Rich, White, Male Disaster
- Bitcoin’s problems are much worse than you thought
Oh you get the idea, why flog a dead parrot? Obviously the widespread predictions of Bitcoin’s demise are now known to have been wrong. But a note of downright hostility is now being struck. I’ve seen this in person many times, as the guy who’s always yipping and yapping about Bitcoin you got to expect it. But until now the attitude in the media has been more bemused dismissal. Which tells me the story of Bitcoin has moved to a new stage. How does that go?
“First they ignore you, then they laugh at you, then they fight you, then you win.”
Whenever the PC-niks start talking about “white privilege” it’s a clear signal they’ve run out of substantive arguments and are just pounding on the table.
It seems to be popping up more, along with the “Ponzi scheme” and “scam” tropes favored by the loud and empty-headed.
Given the amount of money invested in bitcoin, would it be possible for the governments of the world to shut it down at this point? I’ve been quite surprised they haven’t made a serious try to do so. Don’t they realize this will eventually kill fiat currency if it keeps growing? I guess I assume elite money men and the powers that be are smarter and more sophisticated than I am, so I’m wondering if there’s not some exploitable way out for them.
Or possibly there are dissenters with in that hate fiat and see Bitcoin as a way out. There are some for certain on Wall Street of that cast. Ben Lawsky, New York regulator, is an open friend of Bitcoin. And a lot of smaller bankers seem to dislike the Fed for various reasons, and there’s been a lot more interest from them in it.
But I wouldn’t assume it’ll kill fiat in any case, as long as the government requires it for paying taxes.