Tuesday, February 25, 2014

Gary North: Bye-Bye Bitcoins

Gary North emails:
Bye-Bye Bitcoins

Mt. Gox, the world's largest bitcoins exchange, is gone. Vanished. It's now a virtual company.

It took its investors' money with it -- an estimated $172 million. But no one knows.

Investors now get to prove in a Japanese court that they invested money. How will they prove this?

You can read about this here: http://teapartyeconomist.com/?p=15723

Update from North:
 Forbes estimates $409 million in losses.


  1. bye bye inflation............

    Labor Department Weighs Cutting Data on Import and Export Prices to Save Money

    The Labor Department is weighing cuts to a program tracking import and export prices, a cost-saving move that could alter major gauges of U.S. inflation and economic output, according to people familiar with the matter.


  2. Sad that this will fall into the category of things that Gary North will never understand. Like how suspensions of the natural order do not exist and 60 Million species can't fit on a wooden ship.

    So far Wenzel has quoted Jack Lew, Jamie Dimon, Business Insider, Biblical literalists like North, and Alan Greenspan all declaring Bitcoin's unworthiness. Against a huge chunk of the Austrian/Anarcho/Libertarain camp (along with others) who disagree. Let's count the score again in 6 months and see who the fools are.

    1. maybe you'll actually own a bitcoin of your very own by then.

  3. Fortunately people can now go back to just using the state's fiat paper money (or plastic) the way they should have done all along.
    Silly people, attempting to come up with a way to circumvent their master's monopoly.
    Good thing RW and GN have been trashing this attempt from the very start like good proponents of the free market.

  4. Wenzel, every time you write a hit piece on bitcoin the price recovers. YOu are like the perfect negative indicator. Please keep it up!

  5. My favorite quote of the day:

    "if Gmail were to shutter its doors, we wouldn’t say that email was doomed." - Jerry Brito

  6. HAHAHAHA! Look at all the fools who didn't listen and lost all their shitcoins! My gold and cash is in my possession, safe and sound. I can even hide my gold anywhere I want with no fear of theft. Look at Honey badger changing the subject. Admit your shitcoins are just that...shit! bye bye shitcoins, we never knew ya!

    1. @Chris B February 25, 2014 at 5:12 PM

      Yes, I've very sad because my bitcoins are only up 1,600% from this time last year. BTW, I, too, have possession, safe and sound. They don't look too bad next to my pile of gold and silver but I think the metals are envious...

    2. What about all those people you told here in the comments to buy bitcoins at $800 and $1,000?

  7. Jeff Tucker... how's that hype going?