The Tin Whistle

counterculture history and conspiracy theory

Will Newsweek’s gamble on outing Satoshi backfire?

leave a comment »

67-2014-3-14-coverThis is the new Newsweek? Funny, how it looks a lot like the thumbnail I made yesterday for my new magazine Abakus. I think this is a brilliant cover, by the way, and likely selling off the hook, while promoting bitcoin in the process. Of course the story is total hogwash, so one wonders whether the long-term results of this fiasco will help or hurt the return of Newsweek to the newsstand.

I don’t see Satoshi wearing a red tie, by the way, more like a golden silk ascot with a purple velvet sportcoat. I love the bitcoin sigil mask effect and how it evokes the spirit of masked balls, high society and dark magic.

But Bitcoin is not dark magic, no matter who invented it. It’s peer-to-peer and open source, and if it was dark magic, the biggest banks would have launched it, but you notice yesterday a major bank filed a patent on their own version of bitcoin, and the media keeps saying the most amazingly dumb things about it. The biggest problem is supposedly no government backs it, so it is decentralized. Well, so is gold, and most people think gold is the best currency of all. Bitcoin is just digital gold with one big difference: they’ll be mining gold forever as it spews from the plasma of the earth, but the amount of bitcoin will remain fixed forever.

Written by Steven Hager

March 7, 2014 at 4:42 pm

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: