Imagine a bank. Now imagine a bank robber. One night, that robber tries to pick the lock on the bank's door and is caught, but there are no consequences. The next night he throws a rock through the bank's window and is caught, but again, he's allowed to go on his way. ...
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
Neo-nazi group #PatriotFront held a photo op in #Chicago last weekend & is currently marching around #DC so it's as good time as any to compile a list of their identified members for folks to watch for
Who are these chuds?
Patriot Front broke away from white nationalist org Vanguard America following #unitetheright in #charlottesville after James Alex Fields was seen with a VA shield before driving his car into a crowd, murdering Heather Heyer & injuring dozens of others
Syed Robbie Javid a.k.a. Sayed Robbie Javid or Robbie Javid of Alexandria,
Antoine Bernard Renard (a.k.a. “Charlemagne MD” on Discord) from Rockville, MD.
https://t.co/ykEjdZFDi6
Brandon Troy Higgs, 25, from Reisterstown,
Who are these chuds?
Patriot Front broke away from white nationalist org Vanguard America following #unitetheright in #charlottesville after James Alex Fields was seen with a VA shield before driving his car into a crowd, murdering Heather Heyer & injuring dozens of others
Syed Robbie Javid a.k.a. Sayed Robbie Javid or Robbie Javid of Alexandria,
Happy Monday everyone :-) Let's ring in September by reacquainting ourselves with Virginia neo-Nazi and NSC Dixie affiliate Sayed "Robbie" Javid, now known by "Reform the States". Robbie is an explicitly genocidal neo-Nazi, so lets get to know him a bit better!
— Garfield but Anti-Fascist (@AntifaGarfield) August 31, 2020
CW on this thread pic.twitter.com/3gzxrIo9HD
Antoine Bernard Renard (a.k.a. “Charlemagne MD” on Discord) from Rockville, MD.
https://t.co/ykEjdZFDi6
![](https://pbs.twimg.com/media/Es6GNnJXAAYVKWU.png)
Brandon Troy Higgs, 25, from Reisterstown,