Re: [ANN][SLR] SolarCoin | PoW to PoS v. 2.0 | Solar Proof of Generation (§1 = 1MWh)
Any news on the POS implementation?
Sunnyboy just finished POS Proof of Shirt... You should sell Sun Block for Proof of SunBurn
Looks pretty cool Sunnyboy, you need one version with the big logo on the back and a small one on the front though. And V neck or Lower Neck comfort.
Why not accept SolarCoin for the shirts? Ah you have to pay money for them! Why go through the hassle of converting to bitcoin then back to fiat.
Well... Here's about money.
"Money creation in the modern economy"
By Michael McLeay, Amar Radia and Ryland Thomas of the Banks Monetary Analysis Directorate.
Bank Of England
http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q102.pdf
Cheers!
That's nice article. BOE does good research especially Haldane. I used to work with some of his peers. My own concept of money is a bit broader and includes any representation of value, so equities and commercial credit etc. are included, they are just money with unique properties, but all represent value. more in my book. www.thenatureofvalue.com A great site on money which is working putting out M4 aggregate figures is http://www.centerforfinancialstability.org/index.php I was on a panel with the CEO a few weeks back. they have some cool historical data along with compelling new aggregates.
That article is very general. It doesn't delve into the ways that these assets are manipulated with the power of the money they created. A bank that bets against its own CDO created from Accredited AAA rated loans that were fraudulently rated, create money for themselves. Banks that sold out the 401K's of Police and Fire Departments among many others involved with AIG etc. to be backed in Derivatives markets telling people these funds were insured, were considered legitimate banks involved in this creation of money. Usage of Credit Default Swaps to secure against loss as a scheme to also offset the bogus AAA rated loans until the central bank pulls back from the domino effect, causing a Quadrillion dollar call on the derivative market would make it seem like a Billion dollars is chump change. 11 Trillion off the books at the Federal Reserve during the crisis tips the hand of where the real power dwells. Then consider that Congress was blocked to Audit the Fed. Res. when they and the comptroller general should have complete transparency within the Fed Reserve. This is where your so called percentage of money creation took place yet 11 Trillion was underhandedly handed to the banks as a TARP. And we all know that a tarp is used to cover something up. Why would the creation of this type of money even matter anymore. Yet these are the basis of your knowledge and books as inference to what you know about how an economy or monetary supply should evolve from. Where does the money go into this Black Hole of Derivatives created by securitized loans on bad assets? Only further deluged by the separation of the title to a pool of investors who can not change terms of the loans for those properties who just needed to restructure their loans with their BANKS!
How this money is leveraged fraudulently is more important than how it is made by the banks.
This only shows the blaring problem reflected by the fact that SolarCoin (or any other Alt Coin) must accept FIAT for their T-Shirt as if we expect the conundrum should give us all the shirt off its back if all we do is put a logo on it.
Fabulous rant.
Just what I needed to perk me up this morning. It reminded me of why I was drawn to bitcoin and crypto in the first place. The current monetary/financial system is flawed tremendously. It may have served a purpose for the advancement of previous generations but it no longer serves humanity in any way, shape or form. It serves the few at the expense of the whole. Building something with new technology based on the same flawed ideas is not change, it's simply replacing the old mask with a new one. It won't work. Wizard's Fifth Rule has been popping up more and more for me recently, not just here but in other areas of my life as well. For those of you unfamiliar with the Terry Goodkind books, this is what that rule is:
"Mind what people do, not only what they say, for deeds will betray a lie."
PS: I did not pay out the bounty because there were a number of things I was hoping people would think about regarding that chart I posted. For example, Market Cap is made up of two variables: coins in circulation and price. The only way for market cap to close the gap with a price that is being fixed is an influx of coins in circulation. With 1440 per day from mining, that won't do it. It will only happen with a substantial increase in granted coins from the pools. Price is clearly being held fixed by the oversupply in the market from previous mining. Someone has decided that $0.004 is the value and they are working night and day to keep it there. That doesn't seem odd to anyone else? It certainly smells to me. How is the price still at the same level it was two months ago when 144,000 coins per day were being "absorbed into the market". Where did all that "demand" go if volume has stayed the same? Perhaps the demand was never really there to begin with? If so, what does that mean? If the market for SLR were truly a natural and independent reflection of value, why would someone need to spend such an extraordinary amount of their time keeping it fixed at a certain level? Who benefits from that? I haven't even touched on the complex relationship involved related to the impact of multiple exchange rates... The whole crypto market looks to me like a massive money laundering campaign designed to get wealth from an old system into a new one. Given that, expect the spread to continue to widen until whoever is in charge of the price decides to alter their strategy. I posed the question to all of you because I don't have the answers and I think it's something that should be discussed if we are going to continue to have expectations for the future of this currency. If we as a group don't have the combined mental capacity to address crass market manipulation at this early stage in the game, how can we hope to change the future by building it on the same flawed ideals of lies, manipulation and deceit that brought the world to its knees in the first place?
Huh, I didn't know I had a rant within me this morning. That was kinda fun.
