Now that the Czar of Cryptocurrency Sam Bankman-Fried – you know him of the iffy ‘70s footballer perm – has been sent down in America as a dodgy cunt, a fraud and a liar, I restate my previous position.
Betting on the gee gees with Lester Piggott or blowing my wad at a Chinese Casino, would be more ethical than entering into the anonymous cash free world of Crypto Mining and fungible CC (CryptoCurrency is fungible because it can be exchanged for other currencies) and non-fungible tokens (exist only as a line of code in a block chain).
Who owns the Crypto-currency Exchanges? Er nobody, at least in a legal sense.
Who owns the CC held in them? Er nobody, at least in a legal sense.
Is there an address I can go to to draw my CC out if I want to? Er no, at least not in a legal sense. In order to “Cash Out” you have to first sell your CC to an intermediary such as a website like Coinbase
I’m starting to like the sound of this, how do I start mining CC for myself and others? Get yourself a remote warehouse and fill it with vast numbers of PCs running 24/7 then install remote terminals all over the World where punters insert cash and see it vanish in exchange for a Non Fungible Token – lines of code sent to your CC account.
Er you can’t, at least not in a legal sense.
Mob and other underworld connections would help though. How do I find those? Try the Dark Web or just inside the kitchen door of a Chinese or Italian restaurant.
Interesting factoid. Law enforcement agencies searching for illegal CC Exchanges either employ vast teams of cyber analysts online to trace the dealings or just send in the heavy mob to any remote premises that have started to use large amounts of electricity. An indication of Raves, Cannabis Farms and CC Mining or all three.
Now Bankman-Fried (subject to appeals and lawyers) is going down for a very long time in the Yankee penitentiary system good news is that he will be soon experiencing the old fashioned jail currency of AC (Arse Crypto) and DC (Dick Crypto).
The BBC version of the story and pictures of the scruffy cunt in whiffy sneakers:
BBC News
Nominated by: Official Suspect



