The owners of the product have a legal monopoly on it. What would happen if a good guess has been made that you just got a job programming in Ruby, and suddenly Ruby books become 400% more expensive for you?
Especially the ones selling human flesh. Using thousands of years of human economic practice as an example is very stupid, because the escape from malthusian equilibrium is very recent, historically speaking. If you want hundreds of years to pass without an appreciable increase in real living standards, by all means, do things as they did in Nippur, Rome, and 1500's Paris.
After 40 years of "consumers are smart mammals against dumb corporate dinosaurs" mythology real wages have been stagnant, and the share of income to profits is at an historical high. Perhaps the whole ideology of supporting every corporate atrocity in hopes of getting a passing advantage over ones peer competitors is a bad idea.
But then, ideology and empirical data don't tend to go hand in hand.
An efficient market requires that goods and prices be known commodities.
Schemes like this one are, by definition, attempts to make the market less efficient by profiting from degrading the quality of information available. That people are defending it on "property rights" grounds shows that aristocracy still has a large following, even though it is a less efficient social economic arrangement.
I used an architect's desk adjusted to tallest and flattest settings and stood up to work behind it. It lasted 11 years, 6 symphonies, 10 string quartets, two books, four major projects, and two complete SDLCs.
Golden face palm award for that one. If you put the money under the mattress, then it should buy less in some years time, because you haven't done anything with it other than store fleas.
Governments can shut down bit coin any time they really want to. The laws taxing private currencies are still on the books, and anything of value can be declared "income" at any time and taxed. Trade credits, for example, are taxable.
That you don't want to live with the products of a top down production system, spying to this degree won't be necessary to make sure that everyone only uses their allotment in the permitted ways. As long as you want the products of capital culture, and capital society, and the materials that run them, you are going to be enslaved to the people who you gave permission to control them.
Everything else, is begging for a collar that does not chafe as much.
Slashdot Mirror
This is economic friction, or, waste. If there were an actual free market, it would not happen.
Capitalism has to be saved from its inmates, sayeth Adam Smith. He was more right than he knew.
The owners of the product have a legal monopoly on it. What would happen if a good guess has been made that you just got a job programming in Ruby, and suddenly Ruby books become 400% more expensive for you?
Especially the ones selling human flesh. Using thousands of years of human economic practice as an example is very stupid, because the escape from malthusian equilibrium is very recent, historically speaking. If you want hundreds of years to pass without an appreciable increase in real living standards, by all means, do things as they did in Nippur, Rome, and 1500's Paris.
I'm constantly amazed by how people who live in a technological capital economy know so little about the underpinnings of their personal prosperity.
You must have a lot of straw where you live.
What are you, some kind of gay socialist pirate terrorist?
But then, ideology and empirical data don't tend to go hand in hand.
Actually it doesn't maximize profit, it reduces profit as a whole, in favor of one individual.
Schemes like this one are, by definition, attempts to make the market less efficient by profiting from degrading the quality of information available. That people are defending it on "property rights" grounds shows that aristocracy still has a large following, even though it is a less efficient social economic arrangement.
Until you do something about it more effective than whining on an internet web site...
Some one needs to make a movie where the villian has a crazy side kick named "Don't."
As an attorney this is good in the short term for you, and bad in the long term.
It is to avoid poor helpless corporations from being fleeced by consumers who get lower prices than they might be willing to pay.
Much of management is an attempt to get around marginal price, and extract the consumer surplus.
And more games of civ than I can count.
Serves the brits right for voting for this nonsense.
Golden face palm award for that one. If you put the money under the mattress, then it should buy less in some years time, because you haven't done anything with it other than store fleas.
Governments can shut down bit coin any time they really want to. The laws taxing private currencies are still on the books, and anything of value can be declared "income" at any time and taxed. Trade credits, for example, are taxable.
Inflation is past discounting, not theft. In fact, hoarding money is theft.
The problem with private currencies is that they have the same temptations as public ones, and none of the restraints.
Not limited to bit coin, air miles have had the same devaluation problem.
Gold bug Austrians have been predicting hyper-inflation in the dollar for ages now. It is still a prediction that is ahead of its time.
Let me introduce you to the concept of High Frequency Trading and the ability to move money in milliseconds.
It is your something and their nothing that is going to be exchanged.
Everything else, is begging for a collar that does not chafe as much.