Articles: Crypto-tokens
A deeper dive into CMBC, CSPT and FWF
After raw-nerve responses from CMBC Capital (1141) and China Soft Power Technology (0139) to our Huarong-CMB network diagram, we zoom in on their network and also look at CMBC's exposure to the controller of 3 more listed companies. (21-Oct-2018)
After raw-nerve responses from CMBC Capital (1141) and China Soft Power Technology (0139) to our Huarong-CMB network diagram, we zoom in on their network and also look at CMBC's exposure to the controller of 3 more listed companies. (21-Oct-2018)
Future World (0572) interim results reveal purchase and losses on 470 Bitcoins
Company announcement, 28-Aug-2018
On 20-Feb-2018 the group bought 470 Bitcoins from "a security customer" for HK$41.5m or about US$11,287 per Bitcoin. On 2-Mar-2018, the group and the unnamed customer "mutually agreed to set off the payables due to each other". The group lost HK$18.352m on the bet up to 30-Jun-2018.
Company announcement, 28-Aug-2018
On 20-Feb-2018 the group bought 470 Bitcoins from "a security customer" for HK$41.5m or about US$11,287 per Bitcoin. On 2-Mar-2018, the group and the unnamed customer "mutually agreed to set off the payables due to each other". The group lost HK$18.352m on the bet up to 30-Jun-2018.
Webb-site launches WebbCoin
It's Christmas, time to think outside the box with this gift for all our readers. (17-Dec-2017)
It's Christmas, time to think outside the box with this gift for all our readers. (17-Dec-2017)
Bitcoin: the World's first decentralised Ponzi scheme
So long as we have governments with the power to tax and spend in their own currencies, digital pseudo-currencies will never gain traction. Bitcoin and its imitators are a zero-sum game in which the sum of all fiat currency paid for it is the sum of all fiat currency received for it, excluding mining costs. The earlier participants are now cashing out the billions that newcomers are putting into this distributed Ponzi scheme. Play it for entertainment value if you want, but remember that you are purely betting on the greater stupidity of others. (14-Dec-2017)
So long as we have governments with the power to tax and spend in their own currencies, digital pseudo-currencies will never gain traction. Bitcoin and its imitators are a zero-sum game in which the sum of all fiat currency paid for it is the sum of all fiat currency received for it, excluding mining costs. The earlier participants are now cashing out the billions that newcomers are putting into this distributed Ponzi scheme. Play it for entertainment value if you want, but remember that you are purely betting on the greater stupidity of others. (14-Dec-2017)
How one thing leads to another
Starting with an investigation into the banking problems of a digital token exchange, we follow the trail of the people behind a Vanuatu Bank and a series of questionable transactions on London's AIM. (22-Nov-2017)
Starting with an investigation into the banking problems of a digital token exchange, we follow the trail of the people behind a Vanuatu Bank and a series of questionable transactions on London's AIM. (22-Nov-2017)
Webb on "The Pulse" re digital pseudo-currencies
RTHK, 18-Nov-2017
Jump to Part 2 at timestamp 10:40.
RTHK, 18-Nov-2017
Jump to Part 2 at timestamp 10:40.
The hole in Bitcoin
We've yet to see a grounding in the technology and economics of Bitcoin that a layperson can grasp, so this is our explanation of what all the fuss is about, and why you are looking at one big, US$2.6bn, 275 megawatt bubble that will likely go to zero. Even if it succeeds in becoming an accepted transaction currency, there is a second flaw that will destroy its original purpose. (4-Nov-2013)
We've yet to see a grounding in the technology and economics of Bitcoin that a layperson can grasp, so this is our explanation of what all the fuss is about, and why you are looking at one big, US$2.6bn, 275 megawatt bubble that will likely go to zero. Even if it succeeds in becoming an accepted transaction currency, there is a second flaw that will destroy its original purpose. (4-Nov-2013)
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