Did somebody say fine art = money laundering? A banana duct-taped to a wall sold for $120,000 at Miami's Art Basel this week

submitted by useless_aether from cbsnews.com

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[–]HeyImSancho 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (7 children)

I somewhat think since the NSA created the blockchain algorithm, that it's a false positive towards freedom. On that point, I recently read an article by 2 professors out of some Texas college, that were able to actually pinpoint the rise of bitcoin, from a single player out of a single exchange. The massive jump up from a couple grand, to 10 wasn't organic.

Now, I know there's a ton of information now that only serves to contradict; so as to create chaos, so take anything I bring up with a grain of salt, as it could just be what I'm reading(just like anyone else lol).

[–]Tom_Bombadil 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

I wouldn't be surprised if it was a state operation to sabotage/transition off of the dollar.

Even so, the idea has caught on, and clever people will find a way to make it work.

[–]AnarchySpeach 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

sabotage/transition off of the dollar.

That seems unlikely at the moment. I don't see much profit to be made by doing it... at least currently.

[–]AnarchySpeach 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (4 children)

It wouldn't be that hard to inflate or decrease a cryptocurrency (or bitcoin) because of how relatively small it is. Doing so would take a lot of money and risk to do it, but it's scarily simple to do. That's part of reason some companies refuse to touch it. It's still a young concept that we don't quite understand.

[–]JasonCarswell 7 insightful - 2 fun7 insightful - 1 fun8 insightful - 2 fun -  (3 children)

Not understanding things doesn't hold the establishment back.

Not having full spectrum dominance does.

[–]Tom_Bombadil 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

Good point.

[–]AnarchySpeach 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

Not having full spectrum dominance does.

Yep. Completely agree.

[–]FormosaOolong 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (0 children)

Well said, jc.