6 random things for Friday (bitcoin crashes, male fatal injuries, individual income tax)

News Story of the Day: is this the beginning of the end, or just another dip to take advantage of? Either way, the peer-to-peer decentralized virtual currency bitcoin suffered its worst week in four years after plunging to $13,000.

From Reuters:

Bitcoin plunged below $13,000 on Friday after losing around a third of its value in just five days, with the digital currency on track for its worst week since 2013 after a blistering ascent to a peak close to $20,000 on Sunday.

The biggest and best-known cryptocurrency had seen a staggering twentyfold increase since the start of the year, climbing from less than $1,000 to as high as $19,666 on the Luxembourg-based Bitstamp exchange on Sunday and to over $20,000 on other exchanges.

But bitcoin has fallen each day since then, with losses accelerating on Friday. It fell to as low as $12,560 on Bitstamp, marking a fall of almost 20 percent on the day. At 0850 GMT it was trading down 15 percent on the day at $13,320 and was heading for its worst day in more than three months.

For the week, it was down around a third – its worst performance since April 2013.

You can only feel sorry for grandmothers who bought bitcoin at anything above $13,000.

Chart of the Day: uh, feminists? For years, feminists have complained about the lack of representation on corporate boards, in media, or within STEM fields. But how come they never whine about two things: the paucity of women in the logging industry and the substantial number of men who die or get injured on the job? The American Enterprise Institute (AEI) put together this chart that looks at the fatality rate of men:

Illustration of the Day: President Donald Trump and the Republicans’ tax plan is a far cry from what libertarians would envision. It essentially shifts the burden around without providing any significant relief. It will also add to America’s debt since the Trump administration is unlikely to make any cuts or reforms. Ron Paul had the best idea:

Image result for ron paul taxes

Quote of the Day: Lew Rockwell posted a sublime piece on the Mises Institute this week. In his op-ed, Rockwell quote legendary economist Ludwig von Mises pertaining to the intellectual battle. Here is the superb quote:

“Everyone carries a part of society on his shoulders: no one is relieved of his share of responsibility by others. And no one can find a safe way for himself if society is sweeping towards destruction. Therefore everyone, in his own interests, must thrust himself vigorously into the intellectual battle. No one can stand aside with unconcern: the interests of everyone hang on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us.”

Tweet of the Day: ostensibly, the media only care about budget deficits when Republicans are in charge. It is hard to ever agree with former Press Secretary Ari Fleischer, but he is on the money with this tweet that shows the bias at USA Today: they celebrate Obamacare but furrow their brows at Trump’s tax plan.

Video of the Day: want a primer on the individual income tax? PragerU is out with a video that gives you five basic facts about the income tax, including how the top one percent pay 40 percent of the nation’s taxes and half of taxes collected are from you, your neighbor, your colleague, and others.

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