He's not that stupid.
The latest Irons podcast features McAfee. Mac is making some really STUPID arguments for Bitcoin. He's not that stupid. He wants to make the suckers stupid.

His biggest argument is the old "decentralized ledger" which "can't be stopped by governments".

Raw ratshit. Bitcoin is NSA. It exists because it's useful to NSA. If it ever stops being useful, it will stop existing.

Irons isn't making a strong enough counterargument. He's arguing for gold against Bitcoin. That's not the choice. The choice is paper currency against Bitcoin. Paper currency has none of the problems. When your web connection fails, or you forget your password, or the power is out because of a windstorm, you can still spend paper. You can also spend paper without NSA tracking the transaction, while NSA tracks EVERY Bitcoin transaction.

This is tiresome. All of these fake arguments have been definitively debunked for at least six fucking years.

Mac also makes a really dumb supply/demand argument for the value of Bitcoin. He says that the total number of "coins" is firmly limited. Untrue. Debt ceilings and credit limits ALWAYS push up when approached. He also says that about 20% of the "coins" already mined have been lost due to failed computers or lost passwords. (Which destroys his other argument, but let it go.) Because the supply is necessarily decreasing, the price must go up. Here he's acknowledging that Bitcoin is a collectible like vintage wine, not a currency. Unfortunately, collectibles don't necessarily go up when they grow rare. The demand side is equally important and much less predictable. Sometimes people lose interest in baseball cards or '64 Mustangs or Banksy paintings. Fashion is fickle. There's no real collector demand for Bitcoin in the first fucking place, so assuming it will be constant is crazy.

Even in his own department he's making a stupid argument. He says antivirus doesn't do anything. Maybe HIS antivirus doesn't, but AVG works perfectly against hackers damaging or locking up the computer. It doesn't stop NSA, but that's not the fucking purpose. I gave up on McAfee antivirus many years ago because in fact it DIDN'T stop viruses, it only stopped my computer. AVG stays out of the way and halts malware.

Ping! That's the key. Everything Mac does, from his "antivirus" to his "coins", is a total brazen open transparent fraud. Everything is designed to harm the sucker and enrich Mac. He doesn't bother to hide it. The ultimate infinite Sucker Filter.

Labels: Sucker Filter

  ¶ 5:07 PM