The question was about government bonds, not cash. For government bonds, you do get a guaranteed number of dollars on the redemption date, and a guaranteed number of dollars every six months as interest. The reason bond prices have gone up is because interest rates have gone down, making the net present value of these future dollar payments that much greater.
Madoff was a Ponzi Scheme. You sent your money to Madoff. He used that money to pay out earlier investors. Later investors pay in money and that is used to pay you.
Tulip Mania was a bubble. You bought some tulip bulbs, then sold them to a greater fool for more money. They in turn sold them to an even greater fool for even more money.
Bitcoins is more like Tulip Mania than Madoff, therefore it isn't a ponzi, it is a bubble.
It is a bubble, or possibly a pyramid scheme, not a ponzi. In a ponzi scheme, everybody deals directly with the scheme promoter. The new "investments" come in, and is paid out as "return" to the earlier investors.
In this scheme, you make your return by finding new "investors" yourself to pay a higher amount than you paid, like for example in the tulip bulb bubble, south sea bubble and so on.
Because I have to exchange these coins for cash in an unregulated payment service such as Liberty Reserve - Regulated outfits such as Paypal have banned them. Then I have to get the cash out of there into my bank account. I have no idea how much money, if any, I will eventually get, so it is just not worth the hassle.
Sure, but in 15th Century England, if someone 2 tally sticks for your cow, you would consider the offer. You might decide you want 3 sticks, or that your cow isn't for sale at any price, but you would be happy with the idea of exchanging cows for tally sticks because they could be used to pay your tax bill.
1. Do you guarantee a specific number of condoms per bitcoin? For ever more? 2. How good is your guarantee. Do you have a AAA credit rating like the US Government, and sufficient assets or income generating capacity to meet the guarantee.
Fractional reserve banking creates money that is backed by bank loans. Those loans are backed by real estate, cars, business investments and so on, and in many cases have more intrinsic value than Federal Reserve money.
In any case, if Bitcoins were to become the global currency, people would borrow them, spend the borrowed coins, and have the spent, borrowed bitcoins placed back in the banking system, so you would have fractional reserve banking there as well.
You could import an unlocked iPhone from Europe, but it would still only work on AT&T, because they are the only US phone company that use the same technology as the rest of the world.
In the UK, Halifax and a few others text a code to your phone which you then type into the browser to complete the transaction. Lloyds displays a code on the screen, and phones you to ask you to enter it on the telephone keypad.
The problem is that the cases are failing on basic Law 101 stuff that isn't that easy to change.
This one failed because they took action in a court in the wrong state/district. I can't really see how you can easily change the law to give a DC court jurisdiction over someone in for example Texas.
The ACS:Law and Righthaven cases failed because, among other things, the person taking the action was not the copyright owner. Changing the law to deal with that problem is even more difficult.
Mozart managed to pirate Allegri's Misereri from the Sistine Chapel in Holy Week 1770 using only his ears and his memory. He attended the Tenebrae service where it was performed, then wrote it down from memory. He then attended another performance to correct errors in his original transcription. After that, he sold bootleg copies of it to various sheet music shops around Europe.
But what about ARM in a 10" MacBook Air? Probably it would have a different name. I'm pretty sure nobody uses that for serious photoshopping. Basically it would be a iPad with a keyboard for people who want to do lots of typing and keynote (powerpoint) presentations on the move, or use it to RDP into their work computer.
If they are anything like Royal Mail, they just put a while you were out card through the door, and they don't even take the parcel out on the round with them.
The salt is stored in a relatively insecure manner. It needs to be because the system takes the salt, adds it to the password you supply, runs it through the hashing function and compares it with the stored hash.
That's not quite true. The vast majority of private schools are charities. It would be very difficult for a non-charitable private school to compete with the tax breaks that charities get. "Public schools" originally referred to those schools regulated under the Public Schools Acts of 1868 and 1873. They were "public" in the sense that anyone who could afford the fees and pass the entrance exam could get a place, and were not restricted to members of a particular religion or to royalty or members of the aristocracy.
Well Northern Ireland and some counties in England have Grammar Schools, which are state schools which select the students who get the best marks in the 11+ exam. They generally get better results than private and public[1] schools.
[1] In British English, a public school is type of fee paying private school, not a state funded school. It can lead to confusion when having these types of debates.
It is a strength of OSS. If it was a commercial project and Nokia abandoned it, we would be in a much worse position. That doesn't mean it is guaranteed to survive. Look for example at ReiserFS after Hans Reiser was jailed. I don't think QT will be anything like as bad as that as there are a lot more developers who have an interest in keeping it going and the ability to do so.
The problem is that development is funded by the people who pay for non-free licences. If that income dries up, the KDE project would have to put their own development team together with volunteers or donation/grant funded developers.
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Certainly in the UK, no change in the law is required. They can already be jailed under the Computer Misuse Act.
The question was about government bonds, not cash. For government bonds, you do get a guaranteed number of dollars on the redemption date, and a guaranteed number of dollars every six months as interest. The reason bond prices have gone up is because interest rates have gone down, making the net present value of these future dollar payments that much greater.
Madoff was a Ponzi Scheme. You sent your money to Madoff. He used that money to pay out earlier investors. Later investors pay in money and that is used to pay you.
Tulip Mania was a bubble. You bought some tulip bulbs, then sold them to a greater fool for more money. They in turn sold them to an even greater fool for even more money.
Bitcoins is more like Tulip Mania than Madoff, therefore it isn't a ponzi, it is a bubble.
It is a bubble, or possibly a pyramid scheme, not a ponzi. In a ponzi scheme, everybody deals directly with the scheme promoter. The new "investments" come in, and is paid out as "return" to the earlier investors.
In this scheme, you make your return by finding new "investors" yourself to pay a higher amount than you paid, like for example in the tulip bulb bubble, south sea bubble and so on.
Because I have to exchange these coins for cash in an unregulated payment service such as Liberty Reserve - Regulated outfits such as Paypal have banned them. Then I have to get the cash out of there into my bank account. I have no idea how much money, if any, I will eventually get, so it is just not worth the hassle.
Sure, but in 15th Century England, if someone 2 tally sticks for your cow, you would consider the offer. You might decide you want 3 sticks, or that your cow isn't for sale at any price, but you would be happy with the idea of exchanging cows for tally sticks because they could be used to pay your tax bill.
1. Do you guarantee a specific number of condoms per bitcoin? For ever more?
2. How good is your guarantee. Do you have a AAA credit rating like the US Government, and sufficient assets or income generating capacity to meet the guarantee.
Fractional reserve banking creates money that is backed by bank loans. Those loans are backed by real estate, cars, business investments and so on, and in many cases have more intrinsic value than Federal Reserve money.
In any case, if Bitcoins were to become the global currency, people would borrow them, spend the borrowed coins, and have the spent, borrowed bitcoins placed back in the banking system, so you would have fractional reserve banking there as well.
Which is why the Jobsian company that sells music is called iTunes, and has no mention of "Apple" anywhere in the name.
Facetime is VOIP surely? And you can run Skype and various SIP clients on the iPhone.
And their main competitors ITV I believe Apple are aware of them, because they called their TV product the Apple TV rather than the iTV.
You could import an unlocked iPhone from Europe, but it would still only work on AT&T, because they are the only US phone company that use the same technology as the rest of the world.
In the UK, Halifax and a few others text a code to your phone which you then type into the browser to complete the transaction.
Lloyds displays a code on the screen, and phones you to ask you to enter it on the telephone keypad.
The problem is that the cases are failing on basic Law 101 stuff that isn't that easy to change.
This one failed because they took action in a court in the wrong state/district. I can't really see how you can easily change the law to give a DC court jurisdiction over someone in for example Texas.
The ACS:Law and Righthaven cases failed because, among other things, the person taking the action was not the copyright owner. Changing the law to deal with that problem is even more difficult.
Mozart managed to pirate Allegri's Misereri from the Sistine Chapel in Holy Week 1770 using only his ears and his memory.
He attended the Tenebrae service where it was performed, then wrote it down from memory. He then attended another performance to correct errors in his original transcription. After that, he sold bootleg copies of it to various sheet music shops around Europe.
Is people losing their homes, farms and businesses to a nuclear exclusion zone for the next 300 years not bad enough?
The advantages would be much better battery life and instant-on from standby
But what about ARM in a 10" MacBook Air? Probably it would have a different name. I'm pretty sure nobody uses that for serious photoshopping. Basically it would be a iPad with a keyboard for people who want to do lots of typing and keynote (powerpoint) presentations on the move, or use it to RDP into their work computer.
If they are anything like Royal Mail, they just put a while you were out card through the door, and they don't even take the parcel out on the round with them.
The salt is stored in a relatively insecure manner. It needs to be because the system takes the salt, adds it to the password you supply, runs it through the hashing function and compares it with the stored hash.
That's not quite true. The vast majority of private schools are charities. It would be very difficult for a non-charitable private school to compete with the tax breaks that charities get. "Public schools" originally referred to those schools regulated under the Public Schools Acts of 1868 and 1873. They were "public" in the sense that anyone who could afford the fees and pass the entrance exam could get a place, and were not restricted to members of a particular religion or to royalty or members of the aristocracy.
Well Northern Ireland and some counties in England have Grammar Schools, which are state schools which select the students who get the best marks in the 11+ exam. They generally get better results than private and public[1] schools.
[1] In British English, a public school is type of fee paying private school, not a state funded school. It can lead to confusion when having these types of debates.
Surely they will expire at some point if they don't pay the renewal fees?
It is a strength of OSS. If it was a commercial project and Nokia abandoned it, we would be in a much worse position. That doesn't mean it is guaranteed to survive. Look for example at ReiserFS after Hans Reiser was jailed. I don't think QT will be anything like as bad as that as there are a lot more developers who have an interest in keeping it going and the ability to do so.
The problem is that development is funded by the people who pay for non-free licences. If that income dries up, the KDE project would have to put their own development team together with volunteers or donation/grant funded developers.