[Chugalug] A comment on the Bitcoin .. fraud

Lynn Dixon boodaddy at gmail.com
Mon Apr 15 13:29:24 UTC 2013


What is surprising to me is the vast number of people that will jump in and
criticize the currency after doing no research on it.  They will read a few
articles on the web, or maybe even some horrid bitcointalk forum posts and
simply make an assumption that is usually incorrect.

The currency works, and works well. I have been mining for a while now,
nearly two years, and I have personally made some impressive returns.  I
have also used the currency quite a bit. I have used it as a vehicle of
exchange when dealing with foreign currency, I have used it as a vehicle of
exchange for goods and services, and I even accept bitcoin as payment for
my web hosting company.


On Mon, Apr 15, 2013 at 8:02 AM, Mike Robinson <miker at sundialservices.com>wrote:

> These are just my thoughts – but I see a bully pulpit here, and I'll be
> brief.
>
> If you wanted to fleece a bunch of nerds, how would you do it?  Well,
> first of all, you'd promise them, one way or another, "easy money."  In
> fact, knowing that many of them spend hours each day in gam-environments
> where guns never run out of ammo, you'd promise them "make your own money."
>  An altogether synthetic currency system.  "World Money, Release 2.0."
>
> You'd slow-roll the whole thing.  Just toss the ball out onto the field
> almost unmentioned.  Aside from the obvious need for plausible denial when
> the sheet hits the fan, you're playing hard to get, in the form of a
> cryptographic-based puzzle that can only be brute-forced, but that can be
> shown to be solvable.  Add a few more promises – that the supply of this
> "money" will always be limited (never mind how) – and wait for the
> Powerball Effect to take hold of its own accord.  A very large number of
> paper cards are thrown away near my driveway, because I live on a country
> road about a quarter-mile from a convenience store.  I pick them up by the
> hundreds.
>
> Meanwhile, start selling supplies .. for real money.  And books, of
> course.  Every now and then, grab a quiet instant-success headline, say by
> selling a Ferrari (a Ford will NOT do ...) for this "new money."  Then wait.
>
> It's a Crowd Psychology 101 play, people, and I just want to say .. there
> are some things in this ol' world that are truly ancient, and finding new
> and creative ways to rip off your fellow-man by leveraging his own
> gullibility is one of them.  I don't want my Chattanooga virtual friends to
> be among those many that will eventually be hurt.
>
> #undef soapbox .. Thank you.
>
> – Mike Robinson
> (615) 268-3829
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>
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