Fish! Fish, I Tell You, FISH!
The Market Ticker - Commentary on The Capital Markets
2018-01-12 06:36 by Karl Denninger
in Editorial , 163 references Ignore this thread
Fish! Fish, I Tell You, FISH!
[Comments enabled]  

Nobody pays any attention to the "little" shake they feel.

Then, it suddenly looks too easy.  There are fish all over the bottom of what was just out from the beach, and they're flopping around -- there's no water, and it's easy.  Dinner is there for the taking; no baiting hooks, no fishing, no risk.

Just go pick 'em up.

Go right ahead folks.  Do it.  Amazon to $10,000/share.  Microsoft, oh, why not $500?  Netflix? Never better; there are 500 million people in the US, you know, so they should double -- at least -- again.  Facebook?  It'll double -- this year.  Same with Google.  Apple?  To $10,000.  And bitcoin?  Easily $500,000.

Buy now or get priced out.

Yeah, ok.

Read this one folks.

Kodak.  You know, the film company?  Yes, Kodak.  Renting bitcoin mining machines.  At a price that virtually guarantees you will lose a lot of money.  Instead of being panned their stock skyrocketed.

I'm changing the name of my LLC, by the way.  It's Cuda Systems, and if you buy HomeDaemon from me to put on the market and sell (look to the right and click the "must read" article; that one has a link to a back-of-the-envelope guess on how nicely that could work out for you) the most tax-efficient way is for me to sell you the LLC.  Which I'd be happy to do.

But since I only want a reasonable amount of money for the code and a latent patent that I'll be filing just before we do the deal, I'm going to do something else first.

I'm changing the name to "Cuda Blockchain LLC".

The price is now $20 million, not $1.5, and you really should buy it today -- or get priced out forever.

Go to responses (registration required to post)
 
Main Navigation
MUST-READ Selection:
The License Server Paradigm

Full-Text Search & Archives
Archive Access

Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.

NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.

The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.

Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

The Market Ticker content may be sent unmodified to lawmakers via print or electronic means or excerpted online for non-commercial purposes provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media, to republish full articles, or for any commercial use (which includes any site where advertising is displayed.)

Submissions or tips on matters of economic or political interest may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.

 
Comments.......
User: Not logged on
Login Register Top Blog Top Blog Topics FAQ
User Info Fish! Fish, I Tell You, FISH! in forum [Market-Ticker]
Goforbroke
Posts: 7195
Incept: 2007-11-30
A True American Patriot!
Time to feed the chickens.
Report This As A Bad Post Add To Your Ignored User List
smiley No ****.

Better yet, legally change your name to "Bitcoin Denninger" and maybe "our" elected representatives will start taking action on your recommendations, particularly those dealing with healthcare costs.

----------
Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our Light, and not our Darkness, that most frightens us. -- Marianne Williamson

Ktrosper
Posts: 3322
Incept: 2010-04-06

ft collins co
Report This As A Bad Post Add To Your Ignored User List
Hope you make your sale KD.
And know what? I hope whoever buys it sees $40 million instantly, then dumps it.
They can then rename it to GreatefoolsLLC and can ride it back down toward 1.5M :)

----------
The unexamined life is not worth living.-Socrates
The only stable state is the one in which all men are equal before the law.-Aristotle
Liberty exists now in the spaces government has not yet chosen to occupy.-Doc Zero
I anticipate that 10 Dallas Cowboys Cheerleaders will blow me this evening.-K.D
Dji
Posts: 1305
Incept: 2009-04-21

Ponzi world 3rd rock from the sun
Report This As A Bad Post Add To Your Ignored User List
Kodak is selling a Bitcoin miner where you pay for a two year contract and make a profit. (*at current prices, Kodak gets half of all bitcoin you produce.) This is the dumbest **** Ive ever seen at CES.smiley

How about Lon Block-Chaney Denninger smiley

----------
Don't be a bag holder-Me

What goes up Must come Down- Alan Parsons Project
Ckaminski
Posts: 4370
Incept: 2011-04-08

Mass-Hole!
Report This As A Bad Post Add To Your Ignored User List
Kodak is still around?

****, now that most of their slow-iso slide films are gone, I don't bother with them anymore. When I do use film, it's almost exclusively large format and B&W, and Ilford.

Sheet film is getting hard to find. :(

Aethor
Posts: 378
Incept: 2011-11-15

Report This As A Bad Post Add To Your Ignored User List
So, umm... how does renting a bitcoin machine make sense? I mean, you don't need to do anything else, like in any normal business, you don't rent equipment then attract customers, buy or rent an office etc etc.

All you do is put in in your basement, turn it on, and run it.

So if this could brings more money than the cost to rent it, how come Kodak isn't simply running these bitcoin mining machines for themselves, instead of renting them out?

If it makes more money for Kodak to rent these machines out than to operate them themselves, it means they don't expect the bitcoin mining to make as much money as the rental cost (at least, in the long term), which means that it's a losing proposition for whoever rents them... or am I missing something?

Tickerguy
Posts: 151117
Incept: 2007-06-26
A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
You're not missing anything Aethor.

The fundamental problem with "mining" bitcoin is that the more people do it and the longer it goes on the harder it gets (the "tougher" the hash is) and the fewer coins in a block.

This means the price has to keep going up all the time or mining becomes uneconomic. If mining becomes uneconomic the entire scheme collapses since miners are the only means by which transactions can clear as the system is designed (miners perform transaction verification.)

Without miners there is no value of any sort as there's no means to clear transactions!

Oh, did I mention that as transactions go up so does the complexity of verification (number of steps to be performed) and the size of the blockchain itself, which you must pass around in order to receive verification?

----------
Winding it down.
Deepsee100
Posts: 1434
Incept: 2008-02-05

The North Sea
Report This As A Bad Post Add To Your Ignored User List
ROFL

Gee, thanks for the fish...smiley

----------
Next
Goforbroke
Posts: 7195
Incept: 2007-11-30
A True American Patriot!
Time to feed the chickens.
Report This As A Bad Post Add To Your Ignored User List
The math behind the equations in bitcoin ...

What a racket.

https://www.coindesk.com/math-behind-bit....

----------
Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our Light, and not our Darkness, that most frightens us. -- Marianne Williamson
Oliver1655
Posts: 97
Incept: 2012-08-02

Report This As A Bad Post Add To Your Ignored User List
May as well go all in and call it......

The Squicken Blockchain LLC or
SSU Blockchain LLC (Skittle ****ting Unicorns)

smiley

It appears we are already at the mania stage already when you have someone using

http://tulipmania.co/

I hope you make millions and millions on your code and setup.
smiley

It would only be a small down payment on the value of all your teachings and the exposure of the extraction schemes, theft and corruption that surround us in everything.

I simply can't believe the lack of critical thinking by the general public on these matters.

I recently had the opportunity to point out an extortion/extraction scheme (buy our product or face financial damages from not using our product) in a modest group setting (maybe 120 people or so) Sure did change the tone of the meeting. I doubt many saw it that way as they are mostly koolaid drinkers but it sure made some presenters awfully nervous fielding my questions.

Thanks again for the education.


Chaparral
Posts: 301
Incept: 2007-09-11

Los Angeles
Report This As A Bad Post Add To Your Ignored User List
Like the 1840s gold rush in California or the Cannabis growing craze, easier money is to be made selling the equipment to obtain the stuff rather than actually go out and do the hard physical work of digging it out of the ground or spending a year tending a crop.
Nevertoolate
Posts: 1444
Incept: 2007-08-26
A True American Patriot!
San Antonio de Bexar de runover with illegals, Texas
Report This As A Bad Post Add To Your Ignored User List
I can see a "Bitcoin mining cafe" where you pay "X" dollars per minute (covers electricity, rent etc. When not mining, it looks like it is. If you get a bitcoin while you are renting it, then you get a Bitcoin. Have to have all the legal disclaimers. Must be 21 etc. Lines out the door. Put them in the empty retail store fronts. Under the new "fraudulent" business model, you could even plant someone at a machine that "wins"! Nothing like stirring up the pot. Why not? "Everybody's doing it."

----------

Democracy is a conversation between 2 wolves & a sheep discussing what's for dinner. A Constitutional Republic is found when the sheep pulls out a gun & makes clear that his 2nd Amendment Right will be exercised should the wolves attempt to hold such a "vote."-KD 9-29-15
Whitehat
Posts: 247
Incept: 2017-06-27

The People's Republic of New York
Report This As A Bad Post Add To Your Ignored User List
so what we have is some sort of screwed up bandwagon effect where companies feel the need to be relevant and participate in the latest scam. it develops its own atmosphere and starts consuming everything. happened a lot during the tech boom, everything had to be internet relevant, then the app craze, self-driving car craze. some of this **** over the years got government involved to be relevant. funny how it usually precedes a crash. sometimes it is not as tech focused as in housing crazes.

with tech the ones who will profit are those who sit back and let other people burn money and essentially do their research for them. when the dust settles, the late movers will see what does not work and how to implement the few good pieces salvaged from the wreckage. let's see, this use to be known as bankruptcy and recessions, but we do not let those happen anymore so mega scams have no fear attached and probably develop things with little residual value. like ****coin.

----------
There are two ways to be rich: One is by acquiring much, and the other is by desiring little.
snow, seasons, distance and dirt roads: SSDD
"Be not deceived; God is not mocked; for whatsoever a man soweth, that shall he also reap" (Gal. 6:7)
Tsherry
Posts: 1005
Incept: 2008-12-09

Spokane WA
Report This As A Bad Post Add To Your Ignored User List
As we are well into Heinlein's 'Crazy Years', I'd have to state that you've got a sound strategy for maximum wealth extraction from people that are looking to get rich quick.

Love it.

----------
Omne mendacium est.
Quik49
Posts: 4252
Incept: 2007-12-11

Report This As A Bad Post Add To Your Ignored User List
Just like the old days of anything that said internet or .com went to the moon..I remember a cigar company throwing "internet" out there and boom off to the races...then boom off to the ****hole... (opps, wrong word of the day)smiley

Wondering when facefart, scamazon and such get in on this bull**** and boost their false values even further....


----------
Long Vaseline....

Handyone55
Posts: 132
Incept: 2010-07-06

Report This As A Bad Post Add To Your Ignored User List
What if you purchased a bitcoin mining machine and had a free source of electricity? I used to work for the local power company as a temp meterman. I saw some interesting ways inner city folks got free gas and electric. The clear Darwin Award winner was a set of jumper cables clipped into the meter box in place of the meter. I have also seen gas meters bypassed with a piece of radiator hose and a couple of hose clamps. This is the Darwin Award Gas Meter Division. Whenever a house blows up in inner city Wilmington I wonder ................................
Smacktle
Posts: 1846
Incept: 2009-01-20

Texas
Report This As A Bad Post Add To Your Ignored User List
Looking at my 14 yr old son's phone and found he was mining for cryptocurrency on his phone. What a scam! Everybody wants something for nothin.

----------
The faults of the burglar are the qualities of the financier.
- George Bernard Shaw
Login Register Top Blog Top Blog Topics FAQ