2013-1-28 zerohedge.com—Is The ECB Responsible For The Second Coming Of BitCoin?

[vokain]

So one wonders: after soaring to an all time high of $30 before crashing concurrent with the epic May 1, 2011 takedown of silver, was none other than the European Central Bank responsible for the recent second coming of BitCoin which is now slowly but surely creeping back to its all time highs, and what happens to all alternative "virtual" currencies once BitCoin returns to all time highs: will the Fed, the ECB, and the BIS have their hands full with pushing gold lower to care too much about this electronic currency, or will their attention then be diverted away from the daily precious metals smackdown to focus on this threat that at least in Europe is so large, the ECB itself had to chime in?

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[Akka]

And the comments again:

WARNING: Bitcoin is a SCAM. Bitcoin is an idiotic experiment which proves that a non-centrally planned currency is simply unfeasible. Bitcoin is highly corruptible as it is 100% computerized, unregulated and unmanaged. What if somebody cracks the code to your wallet? What if the code breaks? Libertardians never consider intricate details like this because they are too simplistic. The libertarian dream of perfectly functioning ‘free markets’ is a ridiculous fantasy. The only way to ensure peace and happiness is to delegate responsibility to democratically elected politicians with the skills, experience and education to manage complex social and economic issues.

Sadly those politicians are a rare species, red list rare.

[The Fool]

And the comments again:

WARNING: Bitcoin is a SCAM. Bitcoin is an idiotic experiment which proves that a non-centrally planned currency is simply unfeasible. Bitcoin is highly corruptible as it is 100% computerized, unregulated and unmanaged. What if somebody cracks the code to your wallet? What if the code breaks? Libertardians never consider intricate details like this because they are too simplistic. The libertarian dream of perfectly functioning ‘free markets’ is a ridiculous fantasy. The only way to ensure peace and happiness is to delegate responsibility to democratically elected politicians with the skills, experience and education to manage complex social and economic issues.

Sadly those politicians are a rare species, red list rare.

This guy smells like a paid shill to me.

[justusranvier]

And the comments again:

WARNING: Bitcoin is a SCAM. Bitcoin is an idiotic experiment which proves that a non-centrally planned currency is simply unfeasible. Bitcoin is highly corruptible as it is 100% computerized, unregulated and unmanaged. What if somebody cracks the code to your wallet? What if the code breaks? Libertardians never consider intricate details like this because they are too simplistic. The libertarian dream of perfectly functioning ‘free markets’ is a ridiculous fantasy. The only way to ensure peace and happiness is to delegate responsibility to democratically elected politicians with the skills, experience and education to manage complex social and economic issues.

Poe's law

[kiba]

The libertarian dream of perfectly functioning ‘free markets’ is a ridiculous fantasy. The only way to ensure peace and happiness is to delegate responsibility to democratically elected politicians with the skills, experience and education to manage complex social and economic issues.

And here lies the problem. Democratically elected and a technocracy are mutually exclusive proposition.

Either you get politicians that's smart at getting votes or is smart at solving problems, but you don't get both.

[iCEBREAKER]

And the comments again:

WARNING: Bitcoin is a SCAM. Bitcoin is an idiotic experiment which proves that a non-centrally planned currency is simply unfeasible. Bitcoin is highly corruptible as it is 100% computerized, unregulated and unmanaged. What if somebody cracks the code to your wallet? What if the code breaks? Libertardians never consider intricate details like this because they are too simplistic. The libertarian dream of perfectly functioning ‘free markets’ is a ridiculous fantasy. The only way to ensure peace and happiness is to delegate responsibility to democratically elected politicians with the skills, experience and education to manage complex social and economic issues.

Poe's law

Poe's law FTW.  What a perfect send-up of the anti-bitcoin asshamsters!

This meta-troll does a magnificent job parodying the idiotic ranting of the typical Slashdot/DailyKos gun-gold-and-libertarian-hating, Obama-voting buffoon.   

He constantly does this at ZeroHedge, except with gold and silver instead of Bitcoin.  He never breaks character, despite laying it on a tad too thick today.   

Nuff respect!   

[marcus_of_augustus]

Zero-hedge, bitcoins ... of course there will be trolls. Not even a very convincing one to be honest.

The only way to ensure peace and happiness is to delegate responsibility to democratically elected politicians with the skills, experience and education to manage complex social and economic issues.

I mean even the most rabid statists don't speak like this ... it is dripping with heavy irony, or is it mocking cynicism?

[labestiol]

Yet it was not gold gold, silver or even tungsten that was the object of derision in an amusing paper released by the ECB in early November titled "Virtual Currency Schemes", which we profiled at the time, but rather the decentralized electronic currency BitCoin, which was supposed to highlight what, in the eyes of the Draghi-led Frankfurt institutions, is nothing but a Ponzi scheme.

Another big fail for the Tylers  

Good news is comments seem to get better. And like iCEBREAKER said, MDB is one of the mastertrolls of ZH. His comment is actually a very good thing !

[nimda]

The only way to ensure peace and happiness is to delegate responsibility to democratically elected politicians with the skills, experience and education to manage complex social and economic issues.

Where does this guy live? I'm going to move there! Skilled politicians probably don't even have debt crises!

[Spaceman_Spiff]

Yet it was not gold gold, silver or even tungsten that was the object of derision in an amusing paper released by the ECB in early November titled "Virtual Currency Schemes", which we profiled at the time, but rather the decentralized electronic currency BitCoin, which was supposed to highlight what, in the eyes of the Draghi-led Frankfurt institutions, is nothing but a Ponzi scheme.

Another big fail for the Tylers  

Good news is comments seem to get better. And like iCEBREAKER said, MDB is one of the mastertrolls of ZH. His comment is actually a very good thing !

How is this a Tyler-fail?  They aren't bashing bitcoin.

[twolifeinexile]

So one wonders: after soaring to an all time high of $30 before crashing concurrent with the epic May 1, 2011 takedown of silver, was none other than the European Central Bank responsible for the recent second coming of BitCoin which is now slowly but surely creeping back to its all time highs, and what happens to all alternative "virtual" currencies once BitCoin returns to all time highs: will the Fed, the ECB, and the BIS have their hands full with pushing gold lower to care too much about this electronic currency, or will their attention then be diverted away from the daily precious metals smackdown to focus on this threat that at least in Europe is so large, the ECB itself had to chime in?

zerohedge has a lot media exposure, (or rather, they are one important financial media),
But they are almost wrong all the time.

[conspirosphere.tk]

Why is everything supposed to come just once?  

[labestiol]

Yet it was not gold gold, silver or even tungsten that was the object of derision in an amusing paper released by the ECB in early November titled "Virtual Currency Schemes", which we profiled at the time, but rather the decentralized electronic currency BitCoin, which was supposed to highlight what, in the eyes of the Draghi-led Frankfurt institutions, is nothing but a Ponzi scheme.

Another big fail for the Tylers  

Good news is comments seem to get better. And like iCEBREAKER said, MDB is one of the mastertrolls of ZH. His comment is actually a very good thing !

How is this a Tyler-fail?  They aren't bashing bitcoin.

Because the ECB report doesn't say that bitcoin is a ponzi scheme.

[Spaceman_Spiff]

Yet it was not gold gold, silver or even tungsten that was the object of derision in an amusing paper released by the ECB in early November titled "Virtual Currency Schemes", which we profiled at the time, but rather the decentralized electronic currency BitCoin, which was supposed to highlight what, in the eyes of the Draghi-led Frankfurt institutions, is nothing but a Ponzi scheme.

Another big fail for the Tylers  

Good news is comments seem to get better. And like iCEBREAKER said, MDB is one of the mastertrolls of ZH. His comment is actually a very good thing !

How is this a Tyler-fail?  They aren't bashing bitcoin.

Because the ECB report doesn't say that bitcoin is a ponzi scheme.

True

[meowmeowbrowncow]

The libertarian dream of perfectly functioning ‘free markets’ is a ridiculous fantasy. The only way to ensure peace and happiness is to delegate responsibility to democratically elected politicians with the skills, experience and education to manage complex social and economic issues.

And here lies the problem. Democratically elected and a technocracy are mutually exclusive proposition.

Either you get politicians that's smart at getting votes or is smart at solving problems, but you don't get both.

ding ding.  a winner.


Just another reason not to vote and legitimize that kind of govt.


I have a hatred of loud, obnoxious voting proponents when the right candidate is almost invariably none of the above.  (except Richard Pryor)