My Reaction to the Central Bank of Ukraine’s statement on Bitcoin:

I don’t yet know how legally binding this is. It may only be the opinion of Ukraine’s central bank, but nevertheless, it’s bad. It represents exactly the type of corrupt Soviet bureaucratic thinking that Ukrainians rebelled against last winter. Worse, this statement is aimed at the tech industry — the one place talented Ukrainians consistently find refuge from corporate raiders and rent seeking bureaucrats. It’s a very, very discouraging blow at a time when so many Ukrainians have sacrificed so much in a fight that was largely about greater economic freedom. I expect a reaction from the recently formed Bitcoin Foundation of Ukraine.

2 Comments

  1. beauregard

    So much for making moonshine…

    Where is the gold?

    Actually moonshine has value on the street.

    You can still make moon beams.

    Maybe those technical skills might be used to reprogram the Russian tanks or missiles?

    Oh well, consider putting ink on paper.

    Is not Bitcoin really a fiat currency? Not backed by real value.

    How does fantasy value equate to a gold bar?

    Whereas a fantasy story might be exchanged for gold.

    How many electrons in outer ring of gold atom?

    This posting sent with 100% recycled electrons.

    So ask the question if any of these electrons were attached to gold?

    ——————– // ———————

    Addendum:

    “Hear that sound? It’s Jackbooted Progressives
    coming to coerce you to do what they have
    decided is in your best interests. Might be,
    might not–but you can be sure their policies
    provide for their best interests.”
    By Robert Hall

    Reply
  2. Beauregard

    “Add it all up, and the ruble has fallen something like
    22 percent against the dollar the past month, with 11
    percent of that coming on Monday alone. As you can
    see below, the Russian ruble has fallen even further
    than the Ukrainian hryvnia or Brent oil has this year.
    The only asset, and I use that word lightly, that’s done
    worse than the ruble’s 50 percent fall is

    ‘Bitcoin’,

    which is a fake currency that techno-utopians insist
    is the future we don’t know we want.”

    http://tinyurl.com/Russian-Economy-Doomed

    Reply

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