Archive for December, 2017

It helps to be a Nobel laureate when you spout out economic nonsense. But, if you’re not able to milk your 2008 Nobel prize, here are the top ways to become a successful bitcoin doomsdayer:

  • It helps if you have some sort of “authority” on the subject: Nobel prize in economics, MBA, degree in finance, Instagram pictures of you on a boat, etc.
  • Start by claiming bitcoin is a bubble and even claim that you’ve been saying that for years.
  • Claim that you’ve been “right” about bitcion and cryptocurrency for years. You don’t need to have any proof of such claims, just make the claims.
  • Make nebulous claims like “this won’t end well” and “this bubble is about to burst”
  • Use words like parabolic
  • Make as many unsubstantiated claims of bitcion’s “true value” as you can. Just make up a number: $1,000… $3,000… Doesn’t matter if you understand the technology or not. Just make something up that sounds scary to people.
  • Be as vague as possible as to when the bitcoin bubble will burst. Remember, being an internet oracle doesn’t require specifics or even a month. Oracles are made by claims of “soon” and “imminent”.
  • Be as vague as possible as to what value the bitcoin crash will dip to. In fact, don’t even say what the crash will be. This way, when there’s a correction of 40% you can still claim oracle status! Definitely don’t make a 100% accurate prediction to the exact thousand dollar amount that BTC will drop to.
  • Use the word bubble at least 3-4 times every hour; even in conversations unrelated to bitcion
  • Make reference to the mythical tulip bubble
  • Bask in the glory of being right 4-5x per year about the bitcoin bubble when there’s a major correction in the budding cryptocurrency market every few months!
  • Bitcoin shame as much as possible on social media!

P.S. In Krugman’s defense, he does make a valid point that he doesn’t understand technology. He also makes a reasonable point that bitcoin lacks viability as a transactional currency. That is valid given BTC’s current limitations for handling massive tx volume and BTC’s high tx cost. BTC will either need to change or (more likely) be used as a store of large amounts of wealth and for large transactions (e.g. buying a house).


Four years ago, I wrote about how the national parks can avoid the next government shutdown. It was a bit shortsighted in retrospect. Rather than utilizing bonds, national parks (any any organization for that matter) should leverage cryptocurrencies. There are over 1,000 cryptocurrencies in existence today (most should be avoided).  But a park like Yosemite Nation Park fits the mold of being a perfect fit for a cryptocurrency.

A Yosemitecoin has a specific use for a specific purpose. Want to visit and park at Yosemite? Pay in Yosemitecoin. Want to stay at a lodge in Yosemite? Pay in Yosemitecoin. It’s important to the ecological health of Yosemite to limit the number of visitors per season/year, so having a cryptocurrency that is limited in availability during a season would allow the price/cost of Yosemitecoin to limit the exposure of the park.

Mining of Yosemitecoin could prove to be a profitable venture for miners depending upon how the rules are setup for Yosemitecoin mining and exchanging. Exchanging could help boost the overall budget available for Yosemite National Park and allow for the park to afford more resources to ensure the park is well maintained and employees at the park are well compensated. A Yosemitecoin could even serve as a long-term retirement investment vehicle for park employees.

Getting into details for all of this would require much more than a simple blog post. However, every national park, non-profits, and global organizations (such as the red cross) could greatly benefit from having their own cryptocurrency that furthers their cause.