In the wake of the Zimmerman acquittal, Bitcoin shill and inventor of the “Hollywood Dollar” Max Keiser appears to have totally snapped, deciding that he is now a black revolutionary instead of a weird old white dude.
Here’s a fun little quiz: which graph is a bitcoin bubble of 2011, which graph is the bitcoin bubble of 2013, and which is a graph showing textbook definition of a bubble?
Winners will receive 1 swift kick in the ass from myself and a lifetime supply of Mellow Yellow.
From BitcoinTalk:
Well,
one of the german community member posted in the german section that his BFL got seized by the customs. They believe that the CE Zerification is non-complian and fictional. They also failed to have a EU conformity declaration and a user handbook with information.
The main reason why it got a suspect by the customs: they included a american power cord in the package! Holy moly what would’ve happend if the user used that cable? USA(120volt)(germany 230volt)
That guy would be burned by now.
The package goes now to the Office of the Federal President for further inspection. It MAY happen that Butterflylabs gets “blacklisted” by the european custums and all packages that go in the EU gets seized!!!
Butterfly Labs has a long and horrible history with their mining rigs. They started taking pre-orders over a year ago, with a ship time sometime in late July. After numerous delays in production, shipping problems and general incompetence, the only thing they’ve managed to get out the door are some of their tiniest miners, the Jalapenos. And those mainly ended up in the hands of reviewers and blogs in order to keep pumping the Butterfly Labs hype train and securing millions of dollars of pre-orders still in limbo.
Lucky BFL forums user Luke-JR however scored a sweet Mini Rig from Butterfly Labs (it’s just a coincidence he’s a driver developer for them I’m sure). This rig was originally promised to produce 1500 GH/shashing power at 1500 watts for $30,000, but has since seen it’s hashing power slashed to a third of what was promised and it’s power consumption increased 75%, now just offer 500 GH/s at 2400 watts. They’ve promised to make good on pre-order buy sending out 3 rigs to match the initial hashing rate, so now it’s only 1500 GH/s at 6900 watts, a reduction in GH/Watt by a factor of 5.
So what does $22,484 buy you? Take a look!
Don’t worry if those words don’t make any damn sense to you, because the entire thing is utterly nonsensical. Aside from the absolutely ridiculous name, the concept is outstandingly foolish: you, the hapless butt enthusiast, buy shares in the Winklevoss twins’ Bitcoin holdings and they take your money, then list dozens of ways your money can disappear, along with a hefty dose of caveat emptor, followed by cacophonous laughter.
Some choice readings from the writeup, thanks to SA‘s terrifying Bitcoin robot, …!, followed by translations for us regular folk:
As the Sponsor and its management have no history of operating an investment vehicle like the Trust, their experience may be inadequate or unsuitable to manage the Trust.
Translation: We, the absurdly named Winklevoss twins, have no idea what the fuck we are doing here.
The loss or destruction of a private key required to access a Bitcoin may be irreversible. The Trust’s loss of access to its private keys or its experience of a data loss relating to the Trust’s Bitcoins could adversely affect an investment in the Shares.
Translation: Oops we deleted our wallet.dat/reset the Amazon servers/forgot our password!
Political or economic crises may motivate large-scale sales of Bitcoins, which could result in a reduction in the Blended Bitcoin Price and adversely affect an investment in the Shares.
Translation: Some idiot will shout “Cyprus!” and the price will swing wildly.
It may be illegal now, or in the future, to acquire, own, hold, sell or use Bitcoins in one or more countries, and ownership of, holding or trading in Shares may also be considered illegal and subject to sanction.
Translation: The US government is cracking down on Bitcoin because all it’s really used for is to buy drugs and underage porn.
Shareholders cannot be assured of the Sponsor’s continued services, the discontinuance of which may be detrimental to the Trust.
Translation: We very well may just take the money and run.
The reviews thus far are mixed. Wait, no they aren’t:
http://twitter.com/SSVa_Raven/status/352135242380873728
Goons are mostly amused
Redditors are suspicious
Sneak knows what’s actually going on
It is, of course, reddit, so this guy is totally wrong.
Even some of the True Believers at Bitcointalk are not so thrilled:
Not pictured: the worthless bits stuck to the toilet paper
Even actual money news people are critical and skeptical.
Do not give your money to anybody named “Winklevoss,” especially if they’re offering you Bitcoins in return.
If you’ve been to DEFCON, you’re probably familiar with YTCracker, eminent nerdcore rapper and “former” cracker. If you’re into Bitcoin, you’ve definitely heard of him by now, thanks to his outstanding pisstake of Bitcoin and its hilarious community:
[soundcloud url=”http://api.soundcloud.com/tracks/97120279″ iframe=”true” /]
We here at Buttcoin have taken the time to remix Bitcoin Baron:
[soundcloud url=”http://api.soundcloud.com/tracks/98803105″ iframe=”true” /]
This simply has to be seen to be believed. From Bitcointalk: “Spent some time last year building an air economized rig instead of the standard air conditioned setup.”
Looks like that twitter post wasn’t too far fetched. Mt. Gox today announced their their big mean ol’ bank said that they were being overwhelmed by the tremendous success of Mt. Gox. (even though trading volume is at a 6 month low) and has “temporarily” suspended all withdrawals from the exchange in USD currency for the “next few weeks”. If you have money in Mt. Gox right now well tough titties, they’re going to hang onto it for a while. If you don’t like it you can go pound sand.
TOKYO – JAPAN – June 20th, 2013
Over the past weeks Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin. This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers. This is especially so for those in the United States who are requesting wire transfer withdrawals from their accounts. We are currently making improvements to process withdrawals of United States Dollar (USD) denominations, and as a result are temporarily suspending cash withdrawals of USD for the next two weeks. Please be reassured that USD deposits and transfers to Mt. Gox will remain unaffected, as will deposits and withdrawals in other currencies, and we will be resuming USD withdrawals once the process is completed. We apologize for any inconvenience this causes our U.S. customers in the meantime, and look forward to resuming withdrawal service as well as debuting a dramatically improved trading engine which will be launching very soon.
Regards
Mt.Gox Co. Ltd Team.Mt.Gox Contact [email protected]
Mt. Gox will no longer allow withdrawals for the next few weeks but will happily accept deposits and transfers just fine. You can put cash in but you can’t cash out.
MtGox also claimed that they are overwhelming the banks system. That bank is Mizuho. It’s the second largest financial group in Japan and the ninth largest in the World. Yes, MtGox is claiming the 2 week pause is this banks fault.
I wonder if they will encounter any more “delays” before they claim the Feds finally shut them down.
Erik Voorhees has been one of Bitcoin’s biggest supporter, and probably the most well known since Bruce Wagner fell off the face of the earth. He’s been in the bitcoin game for a while and is the founder and CEO of Coinapult, a company that facilitates the transfer of bitcoins via SMS and email. He was formerly the marketing head for BitInstant and has been involved with SatoshiDICE, that
At least that’s what most bitcoiners think. Their brains have been permanently fried to the point where anything can be related to bitcoins if you look at it hard enough.
