By Lee Tucker Some of my thinking was ‘catalyzed’ by Matt Levine at Bloomberg di

By Lee Tucker

Some of my thinking was ‘catalyzed’ by Matt Levine at Bloomberg discursively talking about gold.

Sure, the modern Cathedral can dismiss gold as a negative carry, non-interest bearing flight of fancy valued by fools (disclosure: I do own gold but not in size).

Mr Levine basically said (paraphrased) well, hang on, gold historically has been a social-proofing status enhancer.

Why? To woo a Prince or Princess with a Golden Crown embedded a statement that one is in control of mining technologies, distribution networks, protected storage, rendering skills into consumer goods, and marketing technology.

Is crypto mining really that different?

Instead of digging dirt we are digging digital constructs.

The successful arbitrage is ruthlessly exploiting tax, energy, labor and chip technology to maximize coin intake. And not inconsiderable skill to choose which coin to mine.

For all of my friends who challenge me crypto is utter chaff, please deliver me 5　bitcoins 3 ethers and 2 moneros within four weeks that you did not purchase on an exchange or off-market swap.

Coins that you mined. Is it free?

Is it money for nothing? Do academic credentials mint pure profit?

It is utter chaff, right? No serious men could be competing.

A Milton Friedman license to print. A James Bond license to kill. A PT Barnum Bailey Bros license to thrill.

Live Free & Mine LT