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Mar 12 2018

Cryptocurrency

Fundamentally no more valuable than Tulips, Gold, Oil, or Bananas (say goodbye to the Cavendish you’re used to) it has a certain utility as a medium of exchange provided you can find a market that accepts it.

Federal Reserve Notes (look in your wallet) are mandated by the United States Government with all the power of its military might, nuclear weapons, and domestic monopoly on violence to be “Legal Tender For All Debts Public And Private” though strict Modern Monetary Theorists will tell you that it’s only that “Public” part (i.e. Taxes) that give it real value.

John Oliver is a little off but he gets it mostly right and is much funnier than I am.

My two big beefs are the malware designed to take over your computer to “mine” cryptocurrency and the fact it’s now impossible to buy Video Cards for a reasonable amount of money (I need an upgrade).