LSM Labs is Dead (But Don't Celebrate Just Yet)
LSM Labs is gone, but we've still got a lot of work to do. Just yesterday, CCN exposed LSM Labs, a blatantly obvious scam. The so-called “world class semiconductor engineering company which manufactures leading edge Bitcoin ASIC processors and systems” used various shady practices to promote itself, including buying fake reviews on Bitcointalk and contributing several “articles” (that were really just advertisements for LSM) to various Bitcoin news sites. A few hours after CCN’s reveal, LSM Labs quickly took down their website without warning. It might be tempting to celebrate this....
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Bitcoin is dead. Bitcoin is dead, cry the critics. Like vultures at a funeral, financial pundits are circling. Each one is vying to print their "I told you, so"'s before the other - fighting like starving dogs over table scraps. Benign Parsimony. Bitcoin is dead, they say again. Miner's are shutting down. Services are running off with customer's coins. Bitcoin is a Ponzi Scheme. The Bitcoin CEO was arrested. Bitcoin is for drugs and money laundering. The price is falling, the price is falling. Hey... Henny Pennying is big business but I don't picture these individuals as Chicken Littles.....