WMC 0.00% 20.5¢ wiluna mining corporation limited.

*** TA - WMX - Gold - Wiluna Mining Corp ***, page-74

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    Not a share holder, just having a peruse. This excerpt from a blog that-shall-remain-unnamed may be of interest to you:

    Whatever else the Soviet experiment was, it was at least predicated on producing stuff, however defective the incentives turned out to be, or how shoddy the stuff was that got produced — and the system finally crashed anyway, because it was based on fantasies of human social behavior that just didn’t comport with reality. Now, the USA, in its own existential climax phase, seeks to re-do the Soviet experiment, only minus that feature of industrial production. Instead, our “wealth” gets generated from the banking system alone, and its subsidiary activities, such as hedge funds, arbitrages, dividends from companies with no earnings, and the fees for swapping digitized bundles of this-and-that. You understand that it’s all an illusion, right?
    Bitcoin is the exemplar of that divorce of wealth from production. Its value appears to be derived from two features: the mathematically elegant blockchain code, which is a distributed accounting system supposedly impervious to government meddling. And “mining” Bitcoin using colossal amounts of electricity to churn the blockchain code, a simple dissipation of energy. What is actually produced by these operations? A promise that a set of digits residing on countless flash drives around the world equal X-amount denominated in national currencies, which are themselves spun out of nothing by a process far less complex than the exertions that produce Bitcoin.
    It may be true that Bitcoin’s distributed “ledger” is difficult for governments to crack, but governments can just abolish Bitcoin in a few keystrokes by criminalizing the trade of it and confiscating any theoretical profits from it. They have probably refrained so far because the traffic in Bitcoin is still relatively tiny compared to the trade in stocks, bonds, and their derivatives, and because they prefer to keep the Bitcoin model running as a demonstration project in preparation for their own entry into national cryptocurrencies, with all its advantages for tracking individual transactions and targeting tax liabilities.
    Let’s spell out the more blatant shortcomings of Bitcoin: The blockchain may be theoretically bomb-proof, but the exchanges that Bitcoin trades on can be fiddled, hijacked, and erased from the universe, and Bitcoins with them. Remember Mt. Gox? When it went tits-up in 2014, 850,000 Bitcoins vanished (out of the 21 million that can ever be “mined” under the system as designed). Bitcoins were worth under $1000 when that happened. Also, keep in mind that Bitcoin is meaningless without reliable electric service and the Internet that runs on it. How many Bitcoins were bought-and-sold in Texas those dark days a couple of weeks ago when a blue norther rolled in and the lights went out? Of course, trading Bitcoin might be the least of your problems when the pipes freeze and all the sheetrock in your house gets prepped for a black mold experiment. But just sayin’….
 
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