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A breath of fresh air in the independent unbacked currency sphere happened yesterday. The Manhattan District attorney filed criminal charges against Liberty Reserve for running an unlicensed money-transfer operation. If further proof that the Winkelvii are the kiss of death is needed, I doubt you will have to wait very long.

Look people – along with the myriad problems ranging from fundamental misunderstanding of money and how banking works to (ahem) journalists on the board writing favorable pieces on themselves (1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 ) bitcoin is a money laundry system. That makes it hard to tolerate in the modern world. It is intolerable because while cash supports the same thing, cryptocurrency does it on a potentially larger scale – as shown by Liberty Reserve. But at least Liberty Reserve were honest about their market. Bitcoin isn’t.

So – it’s dead. The adolescent fantasy of living in your mother’s basement while creating a brave new world of currency without a government is nonsense. Deal with it.

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