Anyone holding Bitcoins—or pretty much any cryptocurrency, really—has taken a substantial hit in the last few months, with the exchange rate of dollars to Bitcoins dropping from a high of around $1200 last November to around $550 today. But it's possible that those whose Bitcoins were parked at the long-troubled Mt. Gox exchange have suffered a near-wipeout, or even a total one, in what may have been the catastrophic theft of some 744,000 Bitcoin from that exchange.
Mt. Gox was the first big Bitcoin exchange; as such it attracted the most attention, the most traffic, and the most trouble. It was hacked repeatedly because, at one time, it was [...]
What a fascinating time. When you start staring at our government and its economy, you can start to feel an urge to put together a Carrie Mathison-style wall chart. Because on some level, it all starts to seem like it fits together, doesn't it?
• Here is an "explainer" about What The Federal Reserve Does. Spoiler: what the Fed has done for the last several years is literally give money for free to banks every day. Banks use that borrowed money to make money, including, even, sometimes, by loaning that money to customers. Exciting policy, am I right? "The campaign that gets all the publicity is called quantitative [...]
As you may have seen on Twitter yesterday, Burger King was either sold to McDonald's or taken over by crazy people. Both would be an improvement, as Burger King has a reputation as "the fast food that even fast-food lovers don't like at all." There has always been something off about this hamburger franchise business, especially the marketing. That's why cynical people looked at the supposed hacking of @BurgerKing and figured it was just another desperate try to get anyone to care about the perennial No. 2 hamburger brand.
In all the pretend cultural battles between the East Coast and the West Coast, Dunkin' Donuts occupies a special spot. Eastern Seaboard people are constantly in the Dunkin' Donuts shops, eating bizarre lard-based concoctions such as the beloved "New Hampshire Turkey Snausage Cheese-Steak On a Heat-Pressed Chocolate-glazed White-Bread Sodium Bagel." It's the kind of food that makes Taco Bell look healthy in comparison. It's food for cops and the huge bellies they've earned from 25 years on the beat, taking crap from you people who don't show no respect for nothin', and eating in their patrol cars while listening to classic rock.
Decades of often awkward interaction with America's "print media" professionals has proven (to me) that writers who talk about their medium are bores, and also bad writers. This goes for the people who type up rules for "curating" the Internet and the people who propose "best practices" for typing bullshit on Twitter, but it's the newspaper person who is most guilty of being terrible all the time. Often applying the term "ink-stained wretch" or "scribe" to himself—and it is always a "him"—the newspaperman looks back on his career (which started when personal computers were already in every grade-school library) and sees not the stories covered or drunken camaraderie of the [...]
"Trillions of dollars worth of stock certificates and other paper securities that were stored in a vault in lower Manhattan may have suffered water damage from Superstorm Sandy. The Depository Trust & Clearing Corp., an industry-run clearing house for Wall Street, said the contents of its vault 'are likely damaged.'" —And here you are worried about people having food and water and electricity.
Before the entire economy of Earth collapsed, online reporters who covered the exciting world of "blogs with banner ads" enjoyed speculating on the value of various websites run by a couple of clever weirdos here and there. Was Gawker Media worth more than General Electric? Had PerezHilton.com eclipsed Disney in valuation? Etc. Well, the economy must finally be "great again," because there's a new Business Insider post claiming Matt Drudge's web page is worth "$150 million to $375 million."