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July 25, 2014, 11:54:04 PM *
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261  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 09, 2014, 01:09:21 AM
It would seem that the spike of new members in Reddit's /r/bitcoin was caused by the rumor of islamic terrorists using bitcoin.  At least, the top thread and several other threads are on that topic:
http://www.reddit.com/r/bitcoin
262  Other / Off-topic / Re: Answer the question above with a question. on: July 09, 2014, 12:58:54 AM
"Academic decorum" here?: surely thou jests?
Acedemics have enemies too; who knows who may be reading this thread?  Wink
Did you know that I'm reading this thread?
Should I care?
Unless you are an academic with enemies, why should you care?
Not certain of fitting the socially acceptable profile of an academic but despite my best efforts, I do have enemies and is such a situation not common?
Aren't enemies like beacons, in that, although you very much want to keep clear of them, you are glad they are there because they show you whether you are in the right path?
263  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 09, 2014, 12:17:51 AM
Brock Pierce, notable member of The What-Was-It Foundation, launches RealCoin:
http://blogs.wsj.com/moneybeat/2014/07/08/dollar-backed-digital-currency-aims-to-fix-bitcoins-volatility-dilemma/
264  Other / Off-topic / Re: Answer the question above with a question. on: July 08, 2014, 11:31:48 PM
"Academic decorum" here?: surely thou jests?
Acedemics have enemies too; who knows who may be reading this thread?  Wink
Did you know that I'm reading this thread?
Should I care?
Unless you are an academic with enemies, why should you care?
265  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 08:54:52 PM
Despite Jorge's protestations to the contrary, he clearly equates 'anarchy' with 'chaos' in post after post. I'm pretty sure that most people who consider themselves 'anarchists' are not aspiring to maximize the chaos in the world.
Quote
Anarchy is order without power. - Pierre-Joseph Proudhon
Sigh, again, I wrote
Quote
No, by anarchy I mean just the absence of a government and its "monopolistic" courts, police, etc.  I know that anarchists dream of an orderly and free society without government

BUT indeed I believe that anarchy, no matter how it starts, is unsustainable, and is quickly replaced by a government, internal or external; and, in the first case, often an authoritarian government, rather than a democratic one.
266  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 08:30:01 PM
A more decentralised consensus based form of local governance with more resource based focused economy ............. scrap that

4-0  to germany vs brazil in world cup semi's in 25 mins!! wtf?
Got a comment on my twitter: "Well, it could be worse. We could be playing against Argentina."
267  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 07:44:15 PM
I'm only here for the entertainment and FUD spotting, my investment is in the long overdue replacement of an archaic and inefficient system. If tomorrow Bitcoins primary use switched to trustless transfer of ownership and the currency aspect dropped to the minimum value to maintain a secure network I'd be quite happy Wink
Perhaps that is why you are one of the most cool-headed posters here?  Cheesy
268  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 07:36:10 PM
That Reagan/AT&T divestiture thing earlier was one of the funniest things I've seen on there.

http://en.wikipedia.org/wiki/Breakup_of_the_Bell_System
Quote
This divestiture was initiated by the filing in 1974 by the U.S. Department of Justice of an antitrust lawsuit against AT&T.[1] AT&T was, at the time, the sole provider of telephone service throughout most of the United States. Furthermore, most telephonic equipment in United States was produced by its subsidiary, Western Electric. This vertical integration led AT&T to have almost total control over communication technology in the country, which led to the antitrust case, United States v. AT&T. The plaintiff in the court complaint asked the court to order AT&T to divest ownership of Western Electric.[2]
Feeling that it was about to lose the suit, AT&T proposed an alternative - the breakup of the biggest corporation in American history. It proposed that it retain control of Western Electric, Yellow Pages, the Bell trademark, Bell Labs, and AT&T Long Distance. It also proposed that it be freed from a 1956 anti-trust consent decree that barred it from participating in the general sale of computers.[3] In return, it proposed to give up ownership of the local operating companies.
269  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 07:30:01 PM
Quote
"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!"
Upton Sinclair
And it is difficult to get a man to agree on something else, when the value of his investment depends on others not understanding it.  Wink
270  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 07:26:48 PM
By the way, the word 'anarchy  is ancient (Oxford Dictionary: "mid 16th century [ in English ]: via medieval Latin from Greek anarkhia, from anarkhos, from an- 'without' + arkhos 'chief, ruler').  Proudhon may have been the first to use it as the name of an explicit political model.
271  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 07:19:48 PM
but I am at least well-read enough to know what the [ anarchist ] means, and to use it as it was meant to be used.  If you want to discuss 'chaotic lack of order', then you should use that phrase, or maybe make up one of your own - but using the term 'anarchy' is just incorrect.
But I just told you that I do not define 'anarchism' as 'chaotic lack of order'.  You are kicking the wrong dog.
272  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 06:40:15 PM
You keep using that word 'anarchy', but I don't think you know what it means.  Anarchy is not a synonym for chaos...  As Pierre-Joseph Proudhon famously said, "Anarchy is order without power." .  You should read up on it some time.  Really.
No, by anarchy I mean just the absence of a government and its "monopolistic" courts, police, etc.  I know that anarchists dream of an orderly and free society without government; but, based on history and human nature, I don't believe such a society would survive long enough to be remembered.

"Anarchist" is pejorative in most countries, but in Italy Anarchism has a rather positive aura -- intellectually, but not in practice.  That's because the Anarchists were much involved in the political movements that led to the expulsion of foreign colonial governors (from Spain, France, and Austria) and the independence and unification of the country.  They played the role of the American activists who first spoke and conspired against the rule of Britain, I guess.  But, of course, as soon as the country was unified, the Anarchists were thanked and pushed aside, and monarchy was established (with a branch of the French House of Savoy on the throne). 

Mussolini and Hitler also indirectly benefited from anarchists who called on people to refuse to take part in the "political game" of  "sham democracy", and thus helped weaken the governments that they then took over.
273  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 06:09:26 PM
Ireland had 5000 years of anarchy and was renowned through europe for culture and learning during that time. Then the the British brought freedom, democracy, enslavement and starvation. The bastards chopped down all the trees too.
Was it so?  My understanding is that there is no reliable information about the governance of Ireland before the first written records, and by then it was just like any other place on Earth with similar level of development:

http://en.wikipedia.org/wiki/Ireland
Quote
Ptolemy records sixteen nations inhabiting every part of Ireland in 100 AD.[28] The relationship between the Roman Empire and the kingdoms of ancient Ireland is unclear. [ ... ] Ireland continued as a patchwork of rival kingdoms but, beginning in the 7th century AD, a concept of national kingship gradually became articulated through the concept of a High King of Ireland. Medieval Irish literature portrays an almost unbroken sequence of High Kings stretching back thousands of years but modern historians believe the scheme was constructed in the 8th century to justify the status of powerful political groupings by projecting the origins of their rule into the remote past.
274  Other / Off-topic / Re: Answer the question above with a question. on: July 08, 2014, 05:55:25 PM
I suppose not but I am always a curious one and by the way, is it true that curiousity killed the cat?
Which cat are you talking about?
Perhaps the universal pussy?
If there was such a thing, how many lives would it have?
Would it not have 7.046 Billion known lives?
I think someone missed the pun then, didn't they?
Or pretended not to notice it, out of respect for academic decorum?  Wink
"Academic decorum" here?: surely thou jests?
Acedemics have enemies too; who knows who may be reading this thread?  Wink
275  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 05:45:35 PM
Has anarchism ever degenerated into totalitarian rule? The two examples of anarchist societies I can think of were toppled by external forces - by the Red Army in the Ukraine, and by the Spanish Communist Party and it's allies in Spain. Apologies if that was your point, it just seemed you were suggesting degeneration was a result of anarchism itself, rather than its opponents.
i don't know the examples you mention. I know of a few conscious attempts at anarchic communes going back to the middle ages, but all of them small and toppled by external forces.  Anarchy on a larger scale often arises involuntarily after the collapse of a centralized government with a complex administrative infrastructure; and in that case it is often succeeded by a domestic tyranny. The French and Russian revolutions may be examples of the latter.

I don't know of any example, anytime or anywhere, of an urbanized society that survived without government for more than a few months. (Although I gather that achaeologists have yet to find signs of a government at Çatal Höyök, "the very first city").
276  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 05:12:50 PM
or 3) They get out maneuvered by Mark Zuckerberg , who just out of spite and with great timing and much fanfare launches an app that intergrates Bitcoin and pushes Bitcoin adoption more than anything to date, and the ETF is a flop in comparison..   Cheesy Cheesy   
Wasn't there an announcement, a month or so ago, of a facebook app that would allow tipping in a dozen cryptos, EXCLUDING bitcoin?

and ?
And nothing, but it could be a way of getting even, too.  Cheesy
277  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 05:06:32 PM
or 3) They get out maneuvered by Mark Zuckerberg , who just out of spite and with great timing and much fanfare launches an app that intergrates Bitcoin and pushes Bitcoin adoption more than anything to date, and the ETF is a flop in comparison..   Cheesy Cheesy   
Wasn't there an announcement, a month or so ago, of a facebook app that would allow tipping in a dozen cryptos, EXCLUDING bitcoin?
278  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 05:03:05 PM
That's crony capitalism. In the Laissez faire world, there is not "too big to fail" you just fail and get bought out (or not) by someone more competent.
Just as anarchism quickly degenerates into totalitarian rule, under laissez faire capitalism every market quickly becomes a monopoly or oligopoly; and then the companies can demand special laws and bailouts with the excuse that they are too big to be allowed to fail.

Laissez-faire capitalism was not Reagan's invention of course, nor an exclusive of Repubican governments.  It ran amok before 1929 and led to that classic collapse.  The earliest example of the "too big to fail" argument that I remember watching live on TV was Lee Iacocca getting a huge loan (from Jimmy Carter, perhaps?) to save Chrysler, then one of the three only US car makers.
279  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 04:46:29 PM
if the winklevoss brothers wanted to sell their stash, they could always do so. why would they go through the most complicated way of an etf that needs approvement, paperwork, etc. if they wanted to sell, they would have done it already otc or via exchanges.
Obviously they expect that the opening of that new market will create a demand for BTC (indirectly, via their fund) greater than their holdings, so they will get a lot more $$ than they would by selling them now. 

Which it may.  However the SMBIT and PBP funds do not seem to have created much extra demand over their history.  Would it make much difference having a fund traded on NASDAQ, instead of privately?

SMBIT started in September 2013 with a stash of ~18'000 BTC, and sold shares that represent ~107'000 BTC, about 2/3 of them before December: https://bitcointalk.org/index.php?topic=337486.0  So they sucked up about 90'000 BTC from the "great market" (including OTC).  (Apparently they haven't sold any net shares in the last month; which may explain their sudden desire to help the poor Argentinians, instead of the poor Americans.)

Their profits are hard to estimate since they depend on how much they paid for those 107'000 BTC compared to the market price at the time they sold the corresponding shares.  However, they should make at least 5 million USD just on fees over those shares. So, even if the SMBIT owners were "dumb" and made no profit from strategic buying, and had to hire a couple of staff to manage the fund, they can sleep soundly and smiling every night, no matter what color stands out on the BTC/USD charts.


280  Other / Off-topic / Re: Answer the question above with a question. on: July 08, 2014, 03:38:59 PM
I suppose not but I am always a curious one and by the way, is it true that curiousity killed the cat?
Which cat are you talking about?
Perhaps the universal pussy?
If there was such a thing, how many lives would it have?
Would it not have 7.046 Billion known lives?
I think someone missed the pun then, didn't they?
Or pretended not to notice it, out of respect for academic decorum?  Wink
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