New development
I've been trying to compare Bitcoin and MMT. Both are transparently obvious scams, and both have ferocious cult followings.

The main difference is in the Cui Bono department. Bitcoin easily fits into the Ponzi and MLM models, where the first insiders get rich and everyone else gets poor. MMT doesn't fit those models. The founders are not receiving a cash flow. At most they're getting academic status, which is important but not enough to sustain the level of cult zealotry.

A new hi-tech scam has recently emerged. "Data Ownership" claims to monetize your personal data in some way that isn't yet defined or described. It's even more obvious than the first two. Your web-based data is public property. Trying to own it and rent it out is EXACTLY THE SAME as buying the Brooklyn Bridge for $1000 and renting it out to drivers.

... Well, not exactly. A sucker can easily see why drivers would want to pay tolls for his "own" bridge. Bridges are sparse, and alternate bridges require long detours. There is no visible reason why ANYONE would want to pay tolls for your data, because billions of other data points are instantly available without tolls. Removing your data from the digital commons makes it worth LESS than the billions of other data points, not MORE. The whole fraud can't possibly pay off until ALL data is personally monetized, which will never happen.

Despite the transparent fakeness, all three are developing ACADEMIC SPECIALTIES. Respectable think tanks are assisting all three frauds.

This is an entirely new development.

There was never an academic department teaching How To Counterfeit Stock Certificates. There was never an academic department teaching Methods Of Brooklyn Bridge Salesmanship. There was never an academic department teaching MLM Cult Development.

School courses often discussed those old scams AS EXAMPLES OF SCAMS, but never trained students to PERFORM the scams. Now schools are openly training scammers.

Labels: Constants and Variables, Pluponents

  ¶ 8:12 AM