Capitalism is an economic system based on a free market, open competition, profit motive and private ownership of the means of production. Capitalism does not make a promise of becoming rich nor does it make any promises about the risk of loss. Whatever economic system is used, it's fundamentally about whom does the work and whom benefits from that work (the producer or someone else).
Capitalism does not force workers to work at a factory and sell their time to the factory owner. They can choose to produce their own necessities, but many choose not to. The majority of people choose to support governments that make it much more difficult to do that, but that is also a choice they make.
If I send money from Europe to some person in US, then both my bank, the receiver's bank and likely intermediate banks will take a transaction fee much higher than bitcoin transaction fees (currently free). My bank will also charge a fee for exchanging DKK to USD and they will use an artificially high exchange rate and cash in on that too. It all adds up and many people don't notice this because transparency of fees in the current banking system is deliberately kept low. Also 3 months after having received the dollars, the receiver may be able to buy less for the dollars received because the Federal Reserve may have printed more dollars.
Had I instead sent bitcoins from Europe to the receiver in BTC and had the receiver waited until he actually needed to spend them before converting them into USD, he would likely have had a higher purchase power (assuming no collapse of the currency). Granted volatility of BTC is high now, but this won't continue forever. It will get more stable over time or disappear like many other currencies have throughout history including government backed currencies.
Calculate here how much the dollar has lost in value due to inflation:
http://www.dollartimes.com/calculators/inflation.htm
Currently you would need to rent more than 13 of the no. 1 super-computer in the world to delay transactions from being processed or double-spend YOUR OWN bitcoins. In 6 months more than 26 of them may be needed given previous growth rate. Psychological operations would be more effective in stopping the bitcoin meme from spreading.
Young students fighting governments of foreign countries and organized crime families that could (as US government keeps saying) crush the infrastructure of the US? No, this is about shaping the ethics of police state workers from a young age to keep dissenters in check. KINDERGARTEN???
Protecting Cyberspace as a National Asset Act of 2010:
http://hsgac.senate.gov/public/index.cfm?FuseAction=Files.View&FileStore_id=52895dd6-1931-4770-b089-3c6a23a41de0
An analysis available at:
http://cryptome.org/isp-spy/s3480.htm
Section 405:
"(B) the use and impact of special hiring authorities and flexibilities to recruit the most qualified applicants, including the use of student internship and scholarship programs for permanent hires;"
Section 406:
"(2) K THROUGH 12.—The Secretary of Education, in coordination with the Director of the National Center for Cybersecurity and Communications and State and local governments, shall develop curriculum standards, guidelines, and recommended courses to address cyber safety, cybersecurity, and cyber ethics for students in kindergarten through grade 12."
"(3) UNDERGRADUATE, GRADUATE, VOCATIONAL, AND TECHNICAL INSTITUTIONS.—
(A) SECRETARY OF EDUCATION.—The Secretary of Education, in coordination with the Director of the National Center for Cybersecurity and Communications, shall—
(i) develop curriculum standards and guidelines to address cyber safety, cybersecurity, and cyber ethics for all students enrolled in undergraduate, graduate, vocational, and technical institutions in the United States; and
(ii) analyze and develop recommended courses for students interested in pursuing careers in information technology, communications, computer science, engineering, math, and science, as those subjects relate to cybersecurity.
(B) OFFICE OF PERSONNEL MANAGEMENT.—The Director of the Office of Personnel Management, in coordination with the Director, shall develop strategies and programs—
(i) to recruit students from undergraduate, graduate, vocational, and technical institutions in the United States to serve as Federal employees engaged in cyber missions; and
(ii) that provide internship and part time work opportunities with the Federal Government for students at the undergraduate, graduate, vocational, and technical institutions in the United States."
Section 407: Monetary awards for doing a good job suppressing the population?
Maybe the skilled people are smart enough to see that the cyber army is a fascistic control structure and want nothing to do with it? Lieberman wants to "educate" kids in kindergarten and schools in cyber warfare to control the population when they get to be older. Beware of the Youth Core.
Slashdot Mirror
Capitalism is an economic system based on a free market, open competition, profit motive and private ownership of the means of production. Capitalism does not make a promise of becoming rich nor does it make any promises about the risk of loss. Whatever economic system is used, it's fundamentally about whom does the work and whom benefits from that work (the producer or someone else). Capitalism does not force workers to work at a factory and sell their time to the factory owner. They can choose to produce their own necessities, but many choose not to. The majority of people choose to support governments that make it much more difficult to do that, but that is also a choice they make.
That's what she is saying, but where are the scientific studies that prove causation?
If I send money from Europe to some person in US, then both my bank, the receiver's bank and likely intermediate banks will take a transaction fee much higher than bitcoin transaction fees (currently free). My bank will also charge a fee for exchanging DKK to USD and they will use an artificially high exchange rate and cash in on that too. It all adds up and many people don't notice this because transparency of fees in the current banking system is deliberately kept low. Also 3 months after having received the dollars, the receiver may be able to buy less for the dollars received because the Federal Reserve may have printed more dollars. Had I instead sent bitcoins from Europe to the receiver in BTC and had the receiver waited until he actually needed to spend them before converting them into USD, he would likely have had a higher purchase power (assuming no collapse of the currency). Granted volatility of BTC is high now, but this won't continue forever. It will get more stable over time or disappear like many other currencies have throughout history including government backed currencies. Calculate here how much the dollar has lost in value due to inflation: http://www.dollartimes.com/calculators/inflation.htm
Currently you would need to rent more than 13 of the no. 1 super-computer in the world to delay transactions from being processed or double-spend YOUR OWN bitcoins. In 6 months more than 26 of them may be needed given previous growth rate. Psychological operations would be more effective in stopping the bitcoin meme from spreading.
I can't buy food for gold in the supermarkets near me, so does that make gold worthless?
Are you aware that CO2 is required for photosynthesis in plants and without it they would die leaving us all without food?
That wouldn't help the fascists censor the Internet...so it won't happen.
Young students fighting governments of foreign countries and organized crime families that could (as US government keeps saying) crush the infrastructure of the US? No, this is about shaping the ethics of police state workers from a young age to keep dissenters in check. KINDERGARTEN??? Protecting Cyberspace as a National Asset Act of 2010: http://hsgac.senate.gov/public/index.cfm?FuseAction=Files.View&FileStore_id=52895dd6-1931-4770-b089-3c6a23a41de0 An analysis available at: http://cryptome.org/isp-spy/s3480.htm Section 405: "(B) the use and impact of special hiring authorities and flexibilities to recruit the most qualified applicants, including the use of student internship and scholarship programs for permanent hires;" Section 406: "(2) K THROUGH 12.—The Secretary of Education, in coordination with the Director of the National Center for Cybersecurity and Communications and State and local governments, shall develop curriculum standards, guidelines, and recommended courses to address cyber safety, cybersecurity, and cyber ethics for students in kindergarten through grade 12." "(3) UNDERGRADUATE, GRADUATE, VOCATIONAL, AND TECHNICAL INSTITUTIONS.— (A) SECRETARY OF EDUCATION.—The Secretary of Education, in coordination with the Director of the National Center for Cybersecurity and Communications, shall— (i) develop curriculum standards and guidelines to address cyber safety, cybersecurity, and cyber ethics for all students enrolled in undergraduate, graduate, vocational, and technical institutions in the United States; and (ii) analyze and develop recommended courses for students interested in pursuing careers in information technology, communications, computer science, engineering, math, and science, as those subjects relate to cybersecurity. (B) OFFICE OF PERSONNEL MANAGEMENT.—The Director of the Office of Personnel Management, in coordination with the Director, shall develop strategies and programs— (i) to recruit students from undergraduate, graduate, vocational, and technical institutions in the United States to serve as Federal employees engaged in cyber missions; and (ii) that provide internship and part time work opportunities with the Federal Government for students at the undergraduate, graduate, vocational, and technical institutions in the United States." Section 407: Monetary awards for doing a good job suppressing the population?
Maybe the skilled people are smart enough to see that the cyber army is a fascistic control structure and want nothing to do with it? Lieberman wants to "educate" kids in kindergarten and schools in cyber warfare to control the population when they get to be older. Beware of the Youth Core.