#dailydoug This is not a altcoin blog

But with all the hodgepodge going on around altcoins and all the rest it sometimes feel like it.

I like to think that if I get capture the bitcoin moment in its current state of play then I can possibly understand it a bit more. That was my lofty plan. But I’m stuck. By my own admission it’s a hefty cross to bear to fully explain what is going on in that altcoin world but also to express it into realistic terms without hyperbole and euphoria is almost impossible. It’s always a fine line to  promote and be Evangelical enough without buying into all the noise. In other word not turn it into a A bubble.

Although it depends on your intentions. Like any new market there’s going to be speculators and there’s going to be true believers. Sometimes it’s a little bit tough to tell the difference.

An article on point. Bitcoin for antiques. Really? Did they need an altcoin? Or is it just someone’s cynical attempt to get a bit of cheap click bait to promote their gallery. 


Alternatively it could be considered as another speculative investors attempting to promote bitcoin and bolster its legitimacy. And thus boost its price. In fact from what I see bitcoin and more generally altcoins are wide, wide open to this sort of speculative news manipulation. The lore and good news use cases I suspect add to its legitimacy and strengthen its image in the financial sector. Or antiques or what ever.

Another take would be this talk about ‘a new type of buyer’

What is that exactly? If you Ask me, its an open invitation to the underworld of money laundering. The more I think about it, the more the whole model stinks. 

I too am a struggling artist

Tomorrow I decide to throw some paint on a canvas. I could in theory set my self up with a queue of unsavory types looking to exchange real ‘art’ for ludicrous amounts of bitcoin through a legit bank account. Heavy dose of reality there but I am still getting the feeling bitcoin will never be completely free of its shady teenage years.

And add to all the shadiness of the past then they also have to deal with the criminally silly to the potentially criminal.

First the latter…

The best example being based on the premise that there’s a sucker born every minute. Which isn’t necessarily beholden only to cryptocurrencies.

In this case it just so happens to be a nice convenient example of a Ponzi scheme through an altcoin called onecoin. You pretty much need to got only about a third of the way down to the end of the article to see the characteristic traits of a Ponzi scheme letter.


And now the former. The utterly ridiculous.


And this is where the whole stack of cards comes tumbling downs. You see if anyone can create a cryptocurrencies the it’s natural that you will have varying grades of sillyness. Now I’m not saying an altcoin just for scots is an inherently bad idea. I just think it need to stand up again a real need. Is there a point at which it just stops being a sensible idea and becomes a looney  fringe movement to satisfy any whim?Calling you leaders of micronations? When will you get your own currency.

 It just keep looksing like 1999 bubble all over. Everyone needed a website and the limits were infinte. If you do don’t have a domain then end of the dream. Tha was a really se awakening. Then the thing we don’t talk about happened. Second life. We all remer that right? Like I said we don’t talk about that.

Same story with apps. All of a sudden 4 years ago we needed apps to find out way out of problems we didn’t know we had. And very soon apps were simply another way of giving free hamburgers in exchange for more customer data and then inversely or perversely informing you you needed to walk 80000 step la to burn  off the calories. Solutionism.

So here we are again with altcoin. No real plan except for a big push by clever speculators selling selling pick axes into a burgeoning gold rush going on somewhere in the digital Yukon.

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