Mike Adams, founding editor of Natural News, is a bit of a screwball at times (many times) ...
but he NAILS the BITCOIN FRAUD in the best written, and most thorough expose I have seen to date.
A VERY SOLID ARTICLE.
http://www.naturalnews.com/2017-09-17-john-mcafee-accidentally-revealed-why-bitcoin-is-a-total-fraud-behold-the-logic-of-artificial-work.html
(Hyup- THAT 'McAfee' of McAfee anti-virus fame.)
John McAfee accidentally just revealed why Bitcoin is a total fraud: Behold the logic of “artificial work”
Sunday, September 17, 2017 by: Mike Adams
(Natural News) In a recent CNBC interview that’s being widely touted by self-deluded Bitcoin promoters as some kind of “smack down” of JP Morgan CEO Jamie Dimon, Bitcoin advocate John McAfee accidentally admitted why Bitcoin is a total fraud that’s doomed to fail.
In answering Jamie Dimon’s recent declaration that Bitcoin is a fraud, McAfee replied: (see the video at The Daily Sheeple)
However, sir… you called Bitcoin ‘a fraud.’ I’m a Bitcoin miner. We create Bitcoins. It costs over one thousand dollars per coin to create a Bitcoin. What does it cost to create a U.S. dollar? Which one is the fraud? Because [the dollar] costs whatever the paper costs, but it costs me and other miners over a thousand dollars per coin – it’s called ‘proof of work.’
Behold the logic of artificial work: How John McAfee just embraced Paul Krugman’s ditch digging fable.
Rest of article is very detailed, factual, and soundly presented. Natural News deserves a click-thru for this excellent piece of solid journalism.
Enjoy - mt
BTW: Putting oomph into the old saw about cpu-cycles - Use 'em or Lose 'em.
Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good ...
| 
