As long as pensions, 401ks, corporate insurance budgets, hedge funds, and similar regulated money piles do not get direct or indirect exposure to this, I do not care.
Let the monies reallocate to the lucky and smart ones. They clearly will do much better investing with it than the losers.
In my short time on earth, I have seen a few bubbles and what I learned is that people NEVER learn. They have too much âoeIt will not be me.â Or âoeIt is different this time.â.
Honestly it is a cheap lesson for the masses to learn that there is no such thing as a quick buck that is beneficial to society.
But those countries populations do not even add up to the US. Just their growth in international travel is 1/3 to 1/4 their population. But the comparison is not really proper. International airtime there is equivalent to domestic interstate travel here. Berlin to London is shorter than Atlanta to Dallas.
I would hope the US ranks pretty low in global international travel. We only have 2 big countries bordering us and neither has a lot of air travel. Outside them, everyone is 5+ hours away by flight.
While Hong Kong, London, Shanghai, etc are centers of commerce with multiple countries within 2 hours of flight. In many parts of the world, you would cross multiple countries flying from one side of Texas to the other.
Thatâ(TM)s not what productive workforce means in this case. It means they actually use the currency as an exchange medium. The more in population and volume of transactions, the bigger the productive workforce that creates the bedrock of confidence & trust that others rely upon.
You canâ(TM)t really count someoneâ(TM)s daily life that runs in their local currency and only stores value in Bitcoin against Bitcoin. Thou the few storage and retrieval transactions do count toward it.
By its very design, Bitcoin clearly has a huge productive workforce that creates a massive amount of confidence in an unprecedented way (truely voluntary & democratic). However until it goes back to being a currency rather than an application of Greater Fool, that confidence sits on shaky ground that could vanish in a few days.
No, the biggest lie is that Satan as an external, independent evil exists. This is false, there is nothing as evil as what resides in the human heart. It is through constant vigilance and discipline that every one keeps their ill ways & thoughts in check.
We went the middle road. Our company is pretty big. About 3 years ago Central authority wanted to get out of IE7. So they standardized on Firefox. Then for some reason went to Chrome. We guess because a lot of our workforce is mobile and it was a battery hog.
They informed all the devs that the move from IE7 was coming and after 18 months, made Compatibly View off by default. Those apps that didnâ(TM)t adapt can now tell their specific users to configure their browser accordingly.
Oh, and the standard today is IE11, Firefox, and Chrome (updates were horrendous). But all app people dev for Chrome. We still have many legacy internal websites that are IE6/7 only but year-by-year either they adapt or get shutdown or pass on the additional costs to customers.
In another 3 years, other than a handful of widget database front ends maintained due to 5-10 year contracts, pretty much everything is standards compliant. Most use Chrome but only because all the end user howtos use Chrome screenshots.
The US Dollar or any currency equivalent backed by a large and productive workforce provides economic value by lowering transaction costs and increasing liquidity.
Why is this marked insightful, in Economics sense, it is totally wrong. Creation/destruction of value and utility is straight up Econ so I will leave that to the reader. Let me tackle the -useful work- part of that. It is not an Economic term itself but used quite often to explain the general concept of utility and value; for laymen... which clearly it failed to here.
An example: If we find two robots, one digging a hole and one filling it up, one would be hard pressed to find anyone that would consider this useful work. The only exception is entertainment. If it was intended for and people find it entertaining, then it has value. Otherwise, it is not useful. And on the entertainment end, eventually it will not be so, and at that point the work no longer has value.
In such a scenario, it is fairly obvious to see that is not useful work. Who would disagree with this?
Anyway, it is very hard to define value and useful work. But we have many many examples throughout history where we determined something to not be useful work. Ponzi scheme, pyramid scheme, greater fool theory, hyperinflation, etc. Note that legal gambling is not considered such because of the entertainment aspect.
As long as Bitcoin operates on the Great Fool theory, then it does not do useful work. In some ways one could argue that in a highly inefficient way, it is providing entertainment and educational services to society but that itself normally does not deem something to be considered useful.
And before people bring up -but it is just like stocks-. NO it is NOT. Maybe the stocks you are familiar with or heard about are zero sum games or based on speculations. That makes up a very small part of the market. The majority of the market is defined by the 401ks, pensions, insurance funds, trust funds, savings accounts, etc. The type of stocks these funds generally invest in represent growth in the pie; meaning everyones slices get bigger.
The local governments do this via subsidized oil, rice, & cooking gas.
What these people need isnâ(TM)t to make ends meet day to day but assistance in raising up the social ladder (do not get me wrong, there are quite a lot of people that need help with day to day).
Historically that would be seats in college, radios, clean water, electricity, bicycles, etc.
Now a days cellphones, internet access, motorcycles, etc.
So I read the article. Its all pointless dribble. Apparently the regulation requires the vendor (ie: 1-800 Contact) to call the doctor and leave a message to verify. If the message isn't returned in 7 days, then proceed as if verified! Apparently Hubble does do that. However, they ask basically the doctor's name, city, and clinic and then google it. Then call the nearest match and leave a message.
Do they do due diligence? Of course not, they want to sell contacts. They could have asked for phone number, but don't because its one more thing the customer has to dig up.
Basically this guy wanted to write an article on a startup and the little things they mull over in getting up and running. He didn't have much material so just made a mountain out of a mole hill. He probably got what he needed from the Slashdot effect.
Hulu was actually one of the best streaming services out there. I considered them better than Netflix... in the first year that they came out. Every year after they became worse. Primarily due to the owners trying to "monetize" the service. Hulu is a joke now. Disney can't really make it worse, but I am pretty sure none of the owners have the competency to make it better.
Disney isn't a company meant for "creativity" in the making new stuff sense. They are an entertainment company with assets in movies/shows, plays, theme parks, toys, and leasing. They are creative in the sense of bring generation after generation into the fold using pretty much the same assets.
Netflix is streaming media company with just a small media sector. Comparing the two would be like comparing a regular restaurant to an ice cream shop. The restaurant's dessert ice cream isn't going to kill off the shop. They aren't direct competitors.
Also, having seen what all these big companies put out in streaming apps/players.... those developers should perform harakiri (joking of course) to retain some honor in the profession. I don't think the dripping off color vanilla ice cream in a paper plate is going to beat the shop making fresh ice cream served in waffle bowls.
I too am surprised that the SEC wasted tax funds on 40 investors. Unusual. Wouldnâ(TM)t be surprised if one of them used his connections to right a mistaken investment decision.
You prevent the companies that offer/back the securities on the regulated market. But of course, they wonâ(TM)t do anything about the off the counter trading.
I thought SEC would restrict Bitcoin but CBOE shows otherwise. As far as I can tell that partially vindicated Bitcoin as a legal US security.
Hummm, on one side we have ISPs, Ajit a lawyer, fake public comments, and random Slashdot posters. On the other we have independent media companies, the old FCC head who was an ISP insider, EFF, 20 internet leaders, boat load of public comments, and random Slashdot posters.
Which side to pick... decisions decisions... hummm... so tough to choose.
Honestly I am surprised that BTC has come this far. I never would have guessed it would be allowed on any of the exchanges in this direct of a fashion. But NOW, it would be fairly interesting to watch.
I wonder what category this security would fall under. Probably currency but can it be considered under âoeEnergyâ? Considering thatâ(TM)s itâ(TM)s primary input.
I man sure there will some form of separation from the real-time system. There will be some float and bulk execution. Volume just needs to be average maintained not kept in sync with reality to stay in the market. Thou of course covers, floats, and bulks will only smooth out the volume only so much. Upping transaction fees and building back into the equity price would help, but it too has limits.
HUH?!? Why must your bill go up (other than retarded ISP billing)? Why not offer lower total usage packages for people like you? Or charge more for the higher usage users?
If the ISP has a monopoly or duopoly on the line, then their media servers shouldnâ(TM)t be treated differently than others. Either the two businesses be split, or the 3rd party gets same rental space in the data center, or they lose the monopoly on the line.
We should be doing everything to encourage competition, not make it easier for single players. And no we shouldnâ(TM)t be encouraging âoeinnovationâ, focus on competition and the former will follow.
Allowing trains to cut through private property (leeways) isn't stupid. In the long run, property will mostly be privately owned. Most connections between centers of competencies, production, & consumption will be separated by private land. The benefit to society to connect these centers far out ways the loss felt by the smaller owners.
I am not going to explain the public lands aspect. The very purpose of which is to benefit society.
Here is how the real world works no matter how you decorate it: The Will and Needs of the many outweigh the needs of the few.
- False advertising - Jaywalking - Murder - Property rights / leeways - FOI laws
Of course laws restrict freedom... that's kind of their definition. Especially in the US system where the starting point is that all are equal, free, and are considered to have many fundamental rights from birth (sometimes conception). A proper law is designed to restrict individual freedom at the increased benefit, freedoms, & prosperity of society at large. Examples above.
What they do say is that decentralised currency is disruptive
How? I have seen this said too and it doesnâ(TM)t really make sense. Itâ(TM)s a nice little game and games have value but I donâ(TM)t see it as something significant to be disruptive.
I see Bitcoin as a very poor currency. It has limited, non-replaceable units, and inefficient transactions.
Imagine a village that exports leather. Why does Target selling the coat need to know about the $1 worth of bread the cow herder bought that morning from his local store? Why does the world need to know about the 100k transactions that happened within the village to put $3000 worth of leather on the weekly train?
Sure there is something to be said for the block chain replacing the county records for determining who owned and owns the car or house. But as a society do we really not trust the records office enough to say that we as participants in the market ALL have to agree with on every ownership change of said assets? Seems overkill.
If you truely believe the stock market is a zero sum game, then there is no point in this discussion. You have already made up your mind about some thing you do not understand.
If you leave out the popular stocks and the ones that everyone talks about & watches all the time, then yes there is actual value in the stock market. Stocks like Walmart, Berkshire, Coca-Cola, Johnson&Johnson, etc have very little speculation in relation to their prices.
This raise may even be a hedge against that as players double down to cover shorts to be and keep profits they have.
But I dont expect to see a lot of shorting coming up. I dont see ppl lending coins and losing the ability to sell. Nor do I see brokers floating coins to sell & cover shorts.
Pretty much everyone is looking for the last sucker and no one wants to put themselves at a disadvantage nor fall to the back of the line.
Slashdot Mirror
As long as pensions, 401ks, corporate insurance budgets, hedge funds, and similar regulated money piles do not get direct or indirect exposure to this, I do not care.
Let the monies reallocate to the lucky and smart ones. They clearly will do much better investing with it than the losers.
In my short time on earth, I have seen a few bubbles and what I learned is that people NEVER learn. They have too much âoeIt will not be me.â Or âoeIt is different this time.â.
Honestly it is a cheap lesson for the masses to learn that there is no such thing as a quick buck that is beneficial to society.
But those countries populations do not even add up to the US. Just their growth in international travel is 1/3 to 1/4 their population. But the comparison is not really proper. International airtime there is equivalent to domestic interstate travel here. Berlin to London is shorter than Atlanta to Dallas.
I would hope the US ranks pretty low in global international travel. We only have 2 big countries bordering us and neither has a lot of air travel. Outside them, everyone is 5+ hours away by flight.
While Hong Kong, London, Shanghai, etc are centers of commerce with multiple countries within 2 hours of flight. In many parts of the world, you would cross multiple countries flying from one side of Texas to the other.
Thatâ(TM)s not what productive workforce means in this case. It means they actually use the currency as an exchange medium. The more in population and volume of transactions, the bigger the productive workforce that creates the bedrock of confidence & trust that others rely upon.
You canâ(TM)t really count someoneâ(TM)s daily life that runs in their local currency and only stores value in Bitcoin against Bitcoin. Thou the few storage and retrieval transactions do count toward it.
By its very design, Bitcoin clearly has a huge productive workforce that creates a massive amount of confidence in an unprecedented way (truely voluntary & democratic). However until it goes back to being a currency rather than an application of Greater Fool, that confidence sits on shaky ground that could vanish in a few days.
No, the biggest lie is that Satan as an external, independent evil exists. This is false, there is nothing as evil as what resides in the human heart. It is through constant vigilance and discipline that every one keeps their ill ways & thoughts in check.
We went the middle road. Our company is pretty big. About 3 years ago Central authority wanted to get out of IE7. So they standardized on Firefox. Then for some reason went to Chrome. We guess because a lot of our workforce is mobile and it was a battery hog.
They informed all the devs that the move from IE7 was coming and after 18 months, made Compatibly View off by default. Those apps that didnâ(TM)t adapt can now tell their specific users to configure their browser accordingly.
Oh, and the standard today is IE11, Firefox, and Chrome (updates were horrendous). But all app people dev for Chrome. We still have many legacy internal websites that are IE6/7 only but year-by-year either they adapt or get shutdown or pass on the additional costs to customers.
In another 3 years, other than a handful of widget database front ends maintained due to 5-10 year contracts, pretty much everything is standards compliant. Most use Chrome but only because all the end user howtos use Chrome screenshots.
The US Dollar or any currency equivalent backed by a large and productive workforce provides economic value by lowering transaction costs and increasing liquidity.
Why is this marked insightful, in Economics sense, it is totally wrong. Creation/destruction of value and utility is straight up Econ so I will leave that to the reader. Let me tackle the -useful work- part of that. It is not an Economic term itself but used quite often to explain the general concept of utility and value; for laymen... which clearly it failed to here.
An example: If we find two robots, one digging a hole and one filling it up, one would be hard pressed to find anyone that would consider this useful work. The only exception is entertainment. If it was intended for and people find it entertaining, then it has value. Otherwise, it is not useful. And on the entertainment end, eventually it will not be so, and at that point the work no longer has value.
In such a scenario, it is fairly obvious to see that is not useful work. Who would disagree with this?
Anyway, it is very hard to define value and useful work. But we have many many examples throughout history where we determined something to not be useful work. Ponzi scheme, pyramid scheme, greater fool theory, hyperinflation, etc. Note that legal gambling is not considered such because of the entertainment aspect.
As long as Bitcoin operates on the Great Fool theory, then it does not do useful work. In some ways one could argue that in a highly inefficient way, it is providing entertainment and educational services to society but that itself normally does not deem something to be considered useful.
And before people bring up -but it is just like stocks-. NO it is NOT. Maybe the stocks you are familiar with or heard about are zero sum games or based on speculations. That makes up a very small part of the market. The majority of the market is defined by the 401ks, pensions, insurance funds, trust funds, savings accounts, etc. The type of stocks these funds generally invest in represent growth in the pie; meaning everyones slices get bigger.
The local governments do this via subsidized oil, rice, & cooking gas.
What these people need isnâ(TM)t to make ends meet day to day but assistance in raising up the social ladder (do not get me wrong, there are quite a lot of people that need help with day to day).
Historically that would be seats in college, radios, clean water, electricity, bicycles, etc.
Now a days cellphones, internet access, motorcycles, etc.
So I read the article. Its all pointless dribble. Apparently the regulation requires the vendor (ie: 1-800 Contact) to call the doctor and leave a message to verify. If the message isn't returned in 7 days, then proceed as if verified! Apparently Hubble does do that. However, they ask basically the doctor's name, city, and clinic and then google it. Then call the nearest match and leave a message.
Do they do due diligence? Of course not, they want to sell contacts. They could have asked for phone number, but don't because its one more thing the customer has to dig up.
Basically this guy wanted to write an article on a startup and the little things they mull over in getting up and running. He didn't have much material so just made a mountain out of a mole hill. He probably got what he needed from the Slashdot effect.
Hulu was actually one of the best streaming services out there. I considered them better than Netflix... in the first year that they came out. Every year after they became worse. Primarily due to the owners trying to "monetize" the service. Hulu is a joke now. Disney can't really make it worse, but I am pretty sure none of the owners have the competency to make it better.
Disney isn't a company meant for "creativity" in the making new stuff sense. They are an entertainment company with assets in movies/shows, plays, theme parks, toys, and leasing. They are creative in the sense of bring generation after generation into the fold using pretty much the same assets.
Netflix is streaming media company with just a small media sector. Comparing the two would be like comparing a regular restaurant to an ice cream shop. The restaurant's dessert ice cream isn't going to kill off the shop. They aren't direct competitors.
Also, having seen what all these big companies put out in streaming apps/players.... those developers should perform harakiri (joking of course) to retain some honor in the profession. I don't think the dripping off color vanilla ice cream in a paper plate is going to beat the shop making fresh ice cream served in waffle bowls.
I too am surprised that the SEC wasted tax funds on 40 investors. Unusual. Wouldnâ(TM)t be surprised if one of them used his connections to right a mistaken investment decision.
You prevent the companies that offer/back the securities on the regulated market. But of course, they wonâ(TM)t do anything about the off the counter trading.
I thought SEC would restrict Bitcoin but CBOE shows otherwise. As far as I can tell that partially vindicated Bitcoin as a legal US security.
Hummm, on one side we have ISPs, Ajit a lawyer, fake public comments, and random Slashdot posters. On the other we have independent media companies, the old FCC head who was an ISP insider, EFF, 20 internet leaders, boat load of public comments, and random Slashdot posters.
Which side to pick... decisions decisions... hummm... so tough to choose.
This is one of the reasons I really liked the preprocessor in C. I miss #IF DEBUG / #ENDIF.
Honestly I am surprised that BTC has come this far. I never would have guessed it would be allowed on any of the exchanges in this direct of a fashion. But NOW, it would be fairly interesting to watch.
I wonder what category this security would fall under. Probably currency but can it be considered under âoeEnergyâ? Considering thatâ(TM)s itâ(TM)s primary input.
I man sure there will some form of separation from the real-time system. There will be some float and bulk execution. Volume just needs to be average maintained not kept in sync with reality to stay in the market. Thou of course covers, floats, and bulks will only smooth out the volume only so much. Upping transaction fees and building back into the equity price would help, but it too has limits.
The burdensome parts of NN doesnâ(TM)t apply to small ISPs with less than 250,000 subscribers.
HUH?!? Why must your bill go up (other than retarded ISP billing)? Why not offer lower total usage packages for people like you? Or charge more for the higher usage users?
If the ISP has a monopoly or duopoly on the line, then their media servers shouldnâ(TM)t be treated differently than others. Either the two businesses be split, or the 3rd party gets same rental space in the data center, or they lose the monopoly on the line.
We should be doing everything to encourage competition, not make it easier for single players. And no we shouldnâ(TM)t be encouraging âoeinnovationâ, focus on competition and the former will follow.
Allowing trains to cut through private property (leeways) isn't stupid. In the long run, property will mostly be privately owned. Most connections between centers of competencies, production, & consumption will be separated by private land. The benefit to society to connect these centers far out ways the loss felt by the smaller owners.
I am not going to explain the public lands aspect. The very purpose of which is to benefit society.
Here is how the real world works no matter how you decorate it: The Will and Needs of the many outweigh the needs of the few.
- False advertising
- Jaywalking
- Murder
- Property rights / leeways
- FOI laws
Of course laws restrict freedom... that's kind of their definition. Especially in the US system where the starting point is that all are equal, free, and are considered to have many fundamental rights from birth (sometimes conception). A proper law is designed to restrict individual freedom at the increased benefit, freedoms, & prosperity of society at large. Examples above.
What they do say is that decentralised currency is disruptive
How? I have seen this said too and it doesnâ(TM)t really make sense. Itâ(TM)s a nice little game and games have value but I donâ(TM)t see it as something significant to be disruptive.
I see Bitcoin as a very poor currency. It has limited, non-replaceable units, and inefficient transactions.
Imagine a village that exports leather. Why does Target selling the coat need to know about the $1 worth of bread the cow herder bought that morning from his local store? Why does the world need to know about the 100k transactions that happened within the village to put $3000 worth of leather on the weekly train?
Sure there is something to be said for the block chain replacing the county records for determining who owned and owns the car or house. But as a society do we really not trust the records office enough to say that we as participants in the market ALL have to agree with on every ownership change of said assets? Seems overkill.
If you truely believe the stock market is a zero sum game, then there is no point in this discussion. You have already made up your mind about some thing you do not understand.
If you leave out the popular stocks and the ones that everyone talks about & watches all the time, then yes there is actual value in the stock market. Stocks like Walmart, Berkshire, Coca-Cola, Johnson&Johnson, etc have very little speculation in relation to their prices.
This raise may even be a hedge against that as players double down to cover shorts to be and keep profits they have.
But I dont expect to see a lot of shorting coming up. I dont see ppl lending coins and losing the ability to sell. Nor do I see brokers floating coins to sell & cover shorts.
Pretty much everyone is looking for the last sucker and no one wants to put themselves at a disadvantage nor fall to the back of the line.