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Like you said altcoin is not really a solution , we must make bitcoin more powerful more stable not make a new currency ...
How can Bitcoin be a solution to things it can not do?
Anonymity?
Real-time (1ms) transactions?
Etc...
Did I say that? No!
There is a place for Bitcoin and a place for altcoins.
Like you said altcoin is not really a solution , we must make bitcoin more powerful more stable not make a new currency ...
How can Bitcoin be a solution to things it can not do?
Anonymity?
Real-time (1ms) transactions?
Etc...
Re: One-world reserve currency inevitable and will enslave all nations?
Condensing this thread:
All my bets are on the fat dude (in yellow) as the center of the aggregate inertia and personality.
(Is that Leonardo DiCaprio?)
I suppose everyone has forgotten that I explained that option markets for pegged assets are essential to scaling[1] Bitcoin.
[1] https://bitcointalk.org/index.php?topic=882857.0
https://bitcointalk.org/index.php?topic=882857.msg9746393#msg9746393 (toknormal is perhaps one the astute guys on the forum)
https://bitcointalk.org/index.php?topic=380441.msg10531520#msg10531520
https://bitcointalk.org/index.php?topic=985481.msg10740998#msg10740998
As for the future of Bitcoin, Bitcoin is the reserve currency of crypto-currency, but not the reserve currency for the central banking world. I explained as follows.
Heiamback talks about "grassroots technological anonymous crypto-currency", I wonder if by this he means Bitcoin or a totally anonymous currency without a public ledger like Monero.
Monero has a public ledger which attempts to provide anonymity via autonomous mixing with Cryptonote's one-time ring signatures. Monero does not have anonymity of the IP address sending the transaction to the public ledger, thus it doesn't have total anonymity. Fluffypony was proposing to add I2P (a.k.a. Darknet) integration, but I don't think any free onion routing "darknet" network can be resistant to Sybil attacks on anonymity. We've seen the Tor "darknet" fail spectacularly with its hidden services.
Anonymity is difficult with Bitcoin (but not impossible if you are expert). Bitcoin is an important bridge between the legal tender national currencies and the altcoins.
There are many technologies in play here, and there are more coming. Stay tuned.
Bitcoin is not decentralized. Don't make me repeat this FACT again:
In addition to the pools being centralized, Bitcoin relies on centralized checkpoints controlled by the core developers.
Also I had already provided the following link to you twice, don't make provide it again:
Impossible. Bitcoin is not decentralized and no crypto-currency can be entirely decentralized. A single, borderless universal currency would NOT be amazing in a good way, rather it would be slavery because it will always be controlled by those who have the most (political) power.
I suppose everyone has forgotten that I explained that option markets for pegged assets are essential to scaling[1] Bitcoin.
[1] https://bitcointalk.org/index.php?topic=882857.0
https://bitcointalk.org/index.php?topic=882857.msg9746393#msg9746393 (toknormal is perhaps one the astute guys on the forum)
https://bitcointalk.org/index.php?topic=380441.msg10531520#msg10531520
https://bitcointalk.org/index.php?topic=985481.msg10740998#msg10740998
As for the future of Bitcoin, Bitcoin is the reserve currency of crypto-currency, but not the reserve currency for the central banking world. I explained as follows.
Monero has a public ledger which attempts to provide anonymity via autonomous mixing with Cryptonote's one-time ring signatures. Monero does not have anonymity of the IP address sending the transaction to the public ledger, thus it doesn't have total anonymity. Fluffypony was proposing to add I2P (a.k.a. Darknet) integration, but I don't think any free onion routing "darknet" network can be resistant to Sybil attacks on anonymity. We've seen the Tor "darknet" fail spectacularly with its hidden services.
Anonymity is difficult with Bitcoin (but not impossible if you are expert). Bitcoin is an important bridge between the legal tender national currencies and the altcoins.
There are many technologies in play here, and there are more coming. Stay tuned.
Subject: Mar 18: Tor does not provide reliable anonymity!
Tor is not reliably anonymous! If you are trusting Tor to protect your anonymity, the NSA has probably already de-anonymized you and is saving all the incriminating information for G20 tax hunts coming over the years.
Sadly even Tor's developers admit Tor has egregious problems and they are not sure exactly what happened in every case:
https://blog.torproject.org/blog/hidden-services-need-some-love
https://blog.torproject.org/blog/thoughts-and-concerns-about-operation-onymous
Essentially all anonymous networks suffer three fundamental design problems which make them very easy for the NSA to de-anonymize:
1) Sybil attacks...
2) Denial of service attacks...
3) Low latency relaying...
4) Tor adds exit nodes interfacing to HTTPS which make correlation attacks...
As far as I know Tor never got compromised given the guy hosting the hidden service didn't do anything stupid, ... , if u run Tor with no javascript etc in a safe OS and dont reveal private information you are safe imo.
Tor is not reliably anonymous! If you are trusting Tor to protect your anonymity, the NSA has probably already de-anonymized you and is saving all the incriminating information for G20 tax hunts coming over the years.
Sadly even Tor's developers admit Tor has egregious problems and they are not sure exactly what happened in every case:
https://blog.torproject.org/blog/hidden-services-need-some-love
https://blog.torproject.org/blog/thoughts-and-concerns-about-operation-onymous
Quote
...
Essentially all anonymous networks suffer three fundamental design problems which make them very easy for the NSA to de-anonymize:
1) Sybil attacks...
2) Denial of service attacks...
3) Low latency relaying...
4) Tor adds exit nodes interfacing to HTTPS which make correlation attacks...
tabnloz, very good. You've almost got it entirely.
Cash is going away. They are phasing it out such as by lowering the ATM withdrawal amounts, confiscating cash at borders, and civil forfeiture laws in the USA where they take your cash for any suspicion of illegal activity and they don't need to prove it (your cash is guilty until proven innocent, because it doesn't have human rights!).
The elite appear to be using Bitcoin to force the banking systems to go electronic in order to compete. Realize the elite can't rule by top-down edicts, because they would become the target of organized resistance. The elite rule by clever deceptions. I believe Bitcoin was created with an elite team of cryptographers from the NSA with funding from the DEEP STATE, i.e. the $2.3 trillion that Donald Rumsfeld admitted on the eve of 9/11 was missing from the Pentagon budget (cumulatively over the decades).
I believe that elite team intentionally (secretly subverting the DEEP STATE that contracted them) or inadvertently launched a market for a real anonymous currency and internet. I believe we can invent crypto-currency that can protect us and work as cash did and with extra beneficial features. Thus I believe Bitcoin will not be the only popular altcoin. But the proof of this will be in the pudding so to speak. Someone has to actually invent something worthwhile.
Cash is going away. They are phasing it out such as by lowering the ATM withdrawal amounts, confiscating cash at borders, and civil forfeiture laws in the USA where they take your cash for any suspicion of illegal activity and they don't need to prove it (your cash is guilty until proven innocent, because it doesn't have human rights!).
The elite appear to be using Bitcoin to force the banking systems to go electronic in order to compete. Realize the elite can't rule by top-down edicts, because they would become the target of organized resistance. The elite rule by clever deceptions. I believe Bitcoin was created with an elite team of cryptographers from the NSA with funding from the DEEP STATE, i.e. the $2.3 trillion that Donald Rumsfeld admitted on the eve of 9/11 was missing from the Pentagon budget (cumulatively over the decades).
I believe that elite team intentionally (secretly subverting the DEEP STATE that contracted them) or inadvertently launched a market for a real anonymous currency and internet. I believe we can invent crypto-currency that can protect us and work as cash did and with extra beneficial features. Thus I believe Bitcoin will not be the only popular altcoin. But the proof of this will be in the pudding so to speak. Someone has to actually invent something worthwhile.
Changing the leaders of central planning to engineers or traders won't change the fact that the power vacuum will force the most corrupt to rise to the top and "winner take all". Armstrong is wasting his fucking time [with politics and central planning]. The only possible solution is as it has always been since 6000 B.C., which is private money for the Private waves in Armstrong's cyclical model of oscillation between resets of the political MORASS. Armstrong believes private money is impossible in the digital age. If he is correct, then the human race will go extinct. I know the technology of cryptography and anonymity. I know Armstrong is incorrect. We will have private money in the digital age. The collective morass will eventually have to put a chip inside our body in order to attempt to stop private money (but that is for a future time, not this cycle).
Armstrong apparently doesn't understand or believe that anonymous crypto-currency is plausible.
http://armstrongeconomics.com/2015/03/14/real-estate-15yr-v-30yr-mortgage-new-electronic-currency-coming/
Anonymous crypto-currency and anonymous internet communication is plausible. Bitcoin and Tor are not sufficient.
We have the technology to do it. It is just a matter of implementation.
Btw, I know how to make a crypto-currency WITHOUT A LEDGER! Completely decentralized! (from a transactions point-of-view) Even if they shut down the internet, they can't entirely stop this currency from functioning. I am not revealing my secret just yet. Soon.
http://armstrongeconomics.com/2015/03/14/real-estate-15yr-v-30yr-mortgage-new-electronic-currency-coming/
Quote from: Armstrong
Paper currency will be eliminated and we are headed into purely electronic money. This will be the BITCOIN without the BITCOIN. That is a basic model, which is why they have not shut it down allowing it to survive purely to monitor its performance. Of course those who have used BITCOIN will wake up with a shock when the IRS will hit them for taxes, penalties, and interest on past transactions. They think they have an alternative. That is just silly. The Feds have demanded all data from Ebay and PayPal so that if you sell junk from your garbage on line, they get their piece of the transaction. So you really think they will let Bitcoin escape? They are hunting money EVERYWHERE!
Anonymous crypto-currency and anonymous internet communication is plausible. Bitcoin and Tor are not sufficient.
We have the technology to do it. It is just a matter of implementation.
Btw, I know how to make a crypto-currency WITHOUT A LEDGER! Completely decentralized! (from a transactions point-of-view) Even if they shut down the internet, they can't entirely stop this currency from functioning. I am not revealing my secret just yet. Soon.
I already said that Bitcoin is controlled by 1 - 4 mining pools, so it is not controlled by "We The People".
Can you give me an example of a currency that is indeed decentralized if you think bitcoin or any crypto isn't? I also don't get how bitcoin can be controlled by those with political power. Seems pretty free from that at the momemt.
Bitcoin is not decentralized. Don't make me repeat this FACT again:
So for the currently bitcoin network with 8000 nodes, it can't tolerant collude by 4 top pools(actually, many ppls suspect that GHASH put its computing power in the shadow to hide the fact it controlls over 50% of the total computing power), the fault tolerant is 0.05%.
In addition to the pools being centralized, Bitcoin relies on centralized checkpoints controlled by the core developers.
Also I had already provided the following link to you twice, don't make provide it again:
The nations of the world will agree to a one-world RESERVE currency (not a political union!) because they resent the free ride the USA has gotten by being in control of the world's reserve currency.
But please realize this is all just a ruse for the global banksters to have even more control and do even greater corruption in the future by cleverly hiding their central banking manipulation in "international policy objectives" just as the Fed is hiding their funding of the banksters in "domestic policy objectives".
The only way the powers-that-be will allow Bitcoin to become the one-world reserve currency is if they control it. As I said, Bitcoin is controlled by 1 - 4 mining peers (i.e. they have greater than 50% of Bitcoin's network hash rate), thus the powers-that-be will be able to easily control Bitcoin when they are ready to take over control.
Perhaps you don't understand that you could have 20 mining pools all secretly owned by the same entity. In proof-of-work, the variance of earnings is inversely related to the percentage of the network hash rate the mining pool has, thus users will always favor mining pools that have double digit percentage of the Bitcoin network hash rate.
Bitcoin will never be decentralized. I already quoted upthread my other thread that explains how to get true decentralization by having multiple competing currencies each pegged with an options market to thedomaindominant unit-of-account. This will be the future of crypto-currency. But this will not be a dominant unit-of-account. The dominant unit-of-account will always be what is regulated, because fractional reserve banking (i.e. debt-based booms and busts) is demanded by the public that loves debt financiing and it is inherently a bankrupt financial system paradigm.
But please realize this is all just a ruse for the global banksters to have even more control and do even greater corruption in the future by cleverly hiding their central banking manipulation in "international policy objectives" just as the Fed is hiding their funding of the banksters in "domestic policy objectives".
The only way the powers-that-be will allow Bitcoin to become the one-world reserve currency is if they control it. As I said, Bitcoin is controlled by 1 - 4 mining peers (i.e. they have greater than 50% of Bitcoin's network hash rate), thus the powers-that-be will be able to easily control Bitcoin when they are ready to take over control.
Perhaps you don't understand that you could have 20 mining pools all secretly owned by the same entity. In proof-of-work, the variance of earnings is inversely related to the percentage of the network hash rate the mining pool has, thus users will always favor mining pools that have double digit percentage of the Bitcoin network hash rate.
Bitcoin will never be decentralized. I already quoted upthread my other thread that explains how to get true decentralization by having multiple competing currencies each pegged with an options market to the
I think bitcoin could rise up as sort of a natural default one world currency for sure. I hope it actually happens as a truly borderless universal currency would be amazing in my opinion.
Impossible. Bitcoin is not decentralized and no crypto-currency can be entirely decentralized. A single, borderless universal currency would NOT be amazing in a good way, rather it would be slavery because it will always be controlled by those who have the most (political) power.
There will never exist such as a thing as a single crypto-currency that is decentralized. It can't exist. Bitcoin is not decentralized. True decentralization will only come from multiple competing currencies, thus of course these can never be the reserve currency.
coinits, calm down you are preaching to the choir. You perhaps don't realize I wrote the syndicated essay Bitcoin : The Digital Kill Switch. I am the one who has been writing that Bitcoin is owned by TPTB.
In spite of the arguable fact that Bitcoin is controlled by the global elite, my guarantee that it won't be the "winner take all" global currency remains certain.
First of all, simpleton readers don't seem to understand the distinction between a reserve currency and a circulating currency. Crypto-currencies are the latter. Dollar and Euro cash are examples of the latter. US Treasury and Euro-denominated bonds are the former (Tier 1 reserve assets in the BIS Basel model). IMF SDRs are the former.
The global elite are planning for a national (or regional) currencies floating against a global reserve currency. And they are planning for circulating currencies which are all digital. Bitcoin is one gambit in that mix.
In spite of the arguable fact that Bitcoin is controlled by the global elite, my guarantee that it won't be the "winner take all" global currency remains certain.
First of all, simpleton readers don't seem to understand the distinction between a reserve currency and a circulating currency. Crypto-currencies are the latter. Dollar and Euro cash are examples of the latter. US Treasury and Euro-denominated bonds are the former (Tier 1 reserve assets in the BIS Basel model). IMF SDRs are the former.
The global elite are planning for a national (or regional) currencies floating against a global reserve currency. And they are planning for circulating currencies which are all digital. Bitcoin is one gambit in that mix.
Seems many readers are confusing Bitcoin with this thread. Bitcoin can never become a reserve currency, because the $200+ trillion of global wealth is not going to be placed in a speculative investment. (Stop with your fantasies about scaling over time, you don't have a clue about reality)
Large capitalists are conservative. They want safety of capital firstmost, then a steady average ROI.
There will never exist such as a thing as a single crypto-currency that is decentralized. It can't exist. Bitcoin is not decentralized. True decentralization will only come from multiple competing currencies, thus of course these can never be the reserve currency.
My thesis is that the Knowledge Age (we are leaving the Industrial Age) reduces the demand for stored monetary capital and increases the demand for stored knowledge capital. The Industrial Age (which is moving towards 0 or negative profit margins in China) required large amounts of fixed capital investment, thus a high demand for stored monetary capital. The factory worker and factory engineer are economically insignificant compared to the NAV capital costs of the factory infrastructure.
Whereas the high profit margins are moving towards the knowledge production sector (software programming, marketing, etc). The Industrial Age is dying economically and along with it will die the demand for stored money. The larger the capital, the less effectively one will be able to invest it with a positve ROI.
Thus we don't need crypto-currency to be a reserve currency. Let the oligarchs (and the socialist sheeople/masses) have their reserve currency and enslaved nation-state governments. That is all part of the process of that paradigm dying.
The Knowledge Age will rise with competing crypto-currencies.
Bitcoin will not "winner take all". I guarantee you that.
Large capitalists are conservative. They want safety of capital firstmost, then a steady average ROI.
There will never exist such as a thing as a single crypto-currency that is decentralized. It can't exist. Bitcoin is not decentralized. True decentralization will only come from multiple competing currencies, thus of course these can never be the reserve currency.
My thesis is that the Knowledge Age (we are leaving the Industrial Age) reduces the demand for stored monetary capital and increases the demand for stored knowledge capital. The Industrial Age (which is moving towards 0 or negative profit margins in China) required large amounts of fixed capital investment, thus a high demand for stored monetary capital. The factory worker and factory engineer are economically insignificant compared to the NAV capital costs of the factory infrastructure.
Whereas the high profit margins are moving towards the knowledge production sector (software programming, marketing, etc). The Industrial Age is dying economically and along with it will die the demand for stored money. The larger the capital, the less effectively one will be able to invest it with a positve ROI.
Thus we don't need crypto-currency to be a reserve currency. Let the oligarchs (and the socialist sheeople/masses) have their reserve currency and enslaved nation-state governments. That is all part of the process of that paradigm dying.
The Knowledge Age will rise with competing crypto-currencies.
Bitcoin will not "winner take all". I guarantee you that.
I never suggested that the reason a crypto-currency would become widely adopted is due to cap on the money supply. In fact, I have often argued that an improved replacement for Bitcoin must have perpetual debasement. Arguably the cap on the number of Bitcoins can be subverted in the future, because Bitcoin is controlled by about 1 - 4 mining pools, thus in essence Bitcoin is controlled by the governments which can regulate those large mining pools. The advantage of crypto-currency is not a fixed money supply. And Bitcoin is the least likely of the crypto-currencies to become widely adopted because it isn't even decentralized and doesn't even have anonymity. A better crypto-currency than Bitcoin will rise soon.
Note Armstrong's analogy about 21 million coins for 300 million Americans shows that he ignorant about crypto-currency. BTC are divisible down to 1 Satoshi (0.00000001 BTC) thus thereisare enough fragments of BTC to supply every human on earth. Armstrong is correct that fixed money supply is deflationary and will never be accepted by the public-at-large, but he fails to articulate the reason why. The better explanation of why the public-at-large will not accept a deflationary currency is because it is incompatible with a fractional reserve banking system and thus incompatible with debt. And people love debt. Where there is no usury, there is no economy and nothing moves (as was evident in the Dark Age). The Middle East was similarly stuck going no where (still riding camels and living in tents in the desert) with their anti-usury stance, but the free money from oil and Armstrong teaching them how to hide usury in leasing gold, broke them free from that anti-usury abyss.
Armstrong seems to think that as long as the national government doesn't borrow, then my point about a reserve currency being an enslavement paradigm doesn't apply:
...
As I said, the public will always demand a fractional reserve banking system. Whether it is sanctioned by a central bank (e.g. the USA after 1913) or ad hoc by private banks (e.g. the USA in the 1800s) doesn't change the fact that the public love debt. Citizenry especially love when the debts are accrued by the collective (e.g. nation, state, province, city, school district, company retirement plan, etc) because they are under the illusion that they get all the benefits without the individual default risk. The citizenry are under the illusion that the default can't be taken directly from the individual. People are too stupid to realize they end up paying it in taxes or economic collapse.
...
I entirely agree with Armstrong. There is no way the debt market will agree to be denominated in some decentralized crypto-currency with no regulation. Because debt operates by leverage and fractional reserves, and thus the people prefer to be lied to and told that defaults will never happen and so the ultimate default is delayed by grouping everyone together in a collective with a central bank. This is more desirable to the public than individual failures haphazardly and more frequently.
Thus a one world reserve currency is coming, and it will not be a crypto-currency. Rather it will be something controlled politically by the powers that be. Everyone who participates in the mainstream debt and bond markets will be operating in that reserve currency dominated system (even if there is a 2-tier system with some nations retaining their own national currencies that float against the reserve unit-of-account).
But my point is orthogonal to that reality. Debt is basically useless in the coming shift from the Industrial Age to the Knowledge Age. Most of all the productive value produced in the future will be from knowledge work. This is not labor. It is not fungible like labor is. Thus it can't be financed. If Armstrong would read my essays, he would understand that there is radical paradigm shift underway which will make the debt based economy wither.
Thus those in the debt based economy with their stored money capital will be in the one world currency enslavement system.
The knowledge age workers do not need any monetary capital. We can generate earnings that are 100s or 1000s times our housing and other expenses. We don't get a rats ass about storing money. We want to save up and store more knowledge.
In our economy, we will be using a fully anonymous and decentralized crypto-currency (that is perpetually debased so it forces rapid dissemination into more knowledge production). We won't pay any taxes, except for the portion of our income that we choose to declare to justify our lifestyle to the tax authorities. The vast majority of our economy will go untaxable.
And our economy will be growing very fast while the debt based economy will be shrinking or growing very slowly.
We can peg our currency to the one world reserve currency using an options market, at some carrying cost (determined by relative volatility). We will choose to use our crypto-currency because our freedom and innovation requires we not be dictated to by a central authority, whether it be taxes, the tsuris of kafkaesque KYC and AML which interfere for example with micropayments, FCC regulation of the internet, etc..
Thus in the end, our currency wins and decentralization wins; and central banks and debt die. The one world reserve currency will be an ephemeral failing paradigm. It will be where all the unproductive people hangout and leech off the collective and default on the lenders. It will go into pernicious and terminal decline into an abyss or Dark Age. While our economy will rise up and take over.
Incorrect! Our problem is the human nature that people love debt, because they like to consume before they earn. Wealth is power law distributed. That is a fact. Thus the middle and lower classes envy collective debt as a way to redistribute from the wealthy back to the lazy. They don't understand that this honey is what attracts the flies of government corruption.
Direct democracy will never be a solution, because human nature doesn't change.
The Knowledge Age is a technological paradigm shift which renders the collective powerless to tax (most of the economic activity which won't be tangible thus can't be tracked once we have good anonymity technology implemented).
Note Armstrong's analogy about 21 million coins for 300 million Americans shows that he ignorant about crypto-currency. BTC are divisible down to 1 Satoshi (0.00000001 BTC) thus there
Armstrong seems to think that as long as the national government doesn't borrow, then my point about a reserve currency being an enslavement paradigm doesn't apply:
...
As I said, the public will always demand a fractional reserve banking system. Whether it is sanctioned by a central bank (e.g. the USA after 1913) or ad hoc by private banks (e.g. the USA in the 1800s) doesn't change the fact that the public love debt. Citizenry especially love when the debts are accrued by the collective (e.g. nation, state, province, city, school district, company retirement plan, etc) because they are under the illusion that they get all the benefits without the individual default risk. The citizenry are under the illusion that the default can't be taken directly from the individual. People are too stupid to realize they end up paying it in taxes or economic collapse.
...
I entirely agree with Armstrong. There is no way the debt market will agree to be denominated in some decentralized crypto-currency with no regulation. Because debt operates by leverage and fractional reserves, and thus the people prefer to be lied to and told that defaults will never happen and so the ultimate default is delayed by grouping everyone together in a collective with a central bank. This is more desirable to the public than individual failures haphazardly and more frequently.
Thus a one world reserve currency is coming, and it will not be a crypto-currency. Rather it will be something controlled politically by the powers that be. Everyone who participates in the mainstream debt and bond markets will be operating in that reserve currency dominated system (even if there is a 2-tier system with some nations retaining their own national currencies that float against the reserve unit-of-account).
But my point is orthogonal to that reality. Debt is basically useless in the coming shift from the Industrial Age to the Knowledge Age. Most of all the productive value produced in the future will be from knowledge work. This is not labor. It is not fungible like labor is. Thus it can't be financed. If Armstrong would read my essays, he would understand that there is radical paradigm shift underway which will make the debt based economy wither.
Thus those in the debt based economy with their stored money capital will be in the one world currency enslavement system.
The knowledge age workers do not need any monetary capital. We can generate earnings that are 100s or 1000s times our housing and other expenses. We don't get a rats ass about storing money. We want to save up and store more knowledge.
In our economy, we will be using a fully anonymous and decentralized crypto-currency (that is perpetually debased so it forces rapid dissemination into more knowledge production). We won't pay any taxes, except for the portion of our income that we choose to declare to justify our lifestyle to the tax authorities. The vast majority of our economy will go untaxable.
And our economy will be growing very fast while the debt based economy will be shrinking or growing very slowly.
We can peg our currency to the one world reserve currency using an options market, at some carrying cost (determined by relative volatility). We will choose to use our crypto-currency because our freedom and innovation requires we not be dictated to by a central authority, whether it be taxes, the tsuris of kafkaesque KYC and AML which interfere for example with micropayments, FCC regulation of the internet, etc..
Thus in the end, our currency wins and decentralization wins; and central banks and debt die. The one world reserve currency will be an ephemeral failing paradigm. It will be where all the unproductive people hangout and leech off the collective and default on the lenders. It will go into pernicious and terminal decline into an abyss or Dark Age. While our economy will rise up and take over.
Quote from: Armstrong
Our problem is not what is money, it is government and its endless historical evolution toward corruption.
Incorrect! Our problem is the human nature that people love debt, because they like to consume before they earn. Wealth is power law distributed. That is a fact. Thus the middle and lower classes envy collective debt as a way to redistribute from the wealthy back to the lazy. They don't understand that this honey is what attracts the flies of government corruption.
Direct democracy will never be a solution, because human nature doesn't change.
The Knowledge Age is a technological paradigm shift which renders the collective powerless to tax (most of the economic activity which won't be tangible thus can't be tracked once we have good anonymity technology implemented).
All my bets are on the fat dude (in yellow) as the center of the aggregate inertia and personality.
(Is that Leonardo DiCaprio?)
I suppose everyone has forgotten that I explained that option markets for pegged assets are essential to scaling[1] Bitcoin.
[1] https://bitcointalk.org/index.php?topic=882857.0
https://bitcointalk.org/index.php?topic=882857.msg9746393#msg9746393 (toknormal is perhaps one the astute guys on the forum)
https://bitcointalk.org/index.php?topic=380441.msg10531520#msg10531520
https://bitcointalk.org/index.php?topic=985481.msg10740998#msg10740998
As for the future of Bitcoin, Bitcoin is the reserve currency of crypto-currency, but not the reserve currency for the central banking world. I explained as follows.
Heiamback talks about "grassroots technological anonymous crypto-currency", I wonder if by this he means Bitcoin or a totally anonymous currency without a public ledger like Monero.
Monero has a public ledger which attempts to provide anonymity via autonomous mixing with Cryptonote's one-time ring signatures. Monero does not have anonymity of the IP address sending the transaction to the public ledger, thus it doesn't have total anonymity. Fluffypony was proposing to add I2P (a.k.a. Darknet) integration, but I don't think any free onion routing "darknet" network can be resistant to Sybil attacks on anonymity. We've seen the Tor "darknet" fail spectacularly with its hidden services.
Anonymity is difficult with Bitcoin (but not impossible if you are expert). Bitcoin is an important bridge between the legal tender national currencies and the altcoins.
There are many technologies in play here, and there are more coming. Stay tuned.
Bitcoin is not decentralized. Don't make me repeat this FACT again:
In addition to the pools being centralized, Bitcoin relies on centralized checkpoints controlled by the core developers.
Also I had already provided the following link to you twice, don't make provide it again:
Impossible. Bitcoin is not decentralized and no crypto-currency can be entirely decentralized. A single, borderless universal currency would NOT be amazing in a good way, rather it would be slavery because it will always be controlled by those who have the most (political) power.
I suppose everyone has forgotten that I explained that option markets for pegged assets are essential to scaling[1] Bitcoin.
[1] https://bitcointalk.org/index.php?topic=882857.0
https://bitcointalk.org/index.php?topic=882857.msg9746393#msg9746393 (toknormal is perhaps one the astute guys on the forum)
https://bitcointalk.org/index.php?topic=380441.msg10531520#msg10531520
https://bitcointalk.org/index.php?topic=985481.msg10740998#msg10740998
As for the future of Bitcoin, Bitcoin is the reserve currency of crypto-currency, but not the reserve currency for the central banking world. I explained as follows.
Monero has a public ledger which attempts to provide anonymity via autonomous mixing with Cryptonote's one-time ring signatures. Monero does not have anonymity of the IP address sending the transaction to the public ledger, thus it doesn't have total anonymity. Fluffypony was proposing to add I2P (a.k.a. Darknet) integration, but I don't think any free onion routing "darknet" network can be resistant to Sybil attacks on anonymity. We've seen the Tor "darknet" fail spectacularly with its hidden services.
Anonymity is difficult with Bitcoin (but not impossible if you are expert). Bitcoin is an important bridge between the legal tender national currencies and the altcoins.
There are many technologies in play here, and there are more coming. Stay tuned.
Subject: Mar 18: Tor does not provide reliable anonymity!
Tor is not reliably anonymous! If you are trusting Tor to protect your anonymity, the NSA has probably already de-anonymized you and is saving all the incriminating information for G20 tax hunts coming over the years.
Sadly even Tor's developers admit Tor has egregious problems and they are not sure exactly what happened in every case:
https://blog.torproject.org/blog/hidden-services-need-some-love
https://blog.torproject.org/blog/thoughts-and-concerns-about-operation-onymous
Essentially all anonymous networks suffer three fundamental design problems which make them very easy for the NSA to de-anonymize:
1) Sybil attacks...
2) Denial of service attacks...
3) Low latency relaying...
4) Tor adds exit nodes interfacing to HTTPS which make correlation attacks...
As far as I know Tor never got compromised given the guy hosting the hidden service didn't do anything stupid, ... , if u run Tor with no javascript etc in a safe OS and dont reveal private information you are safe imo.
Tor is not reliably anonymous! If you are trusting Tor to protect your anonymity, the NSA has probably already de-anonymized you and is saving all the incriminating information for G20 tax hunts coming over the years.
Sadly even Tor's developers admit Tor has egregious problems and they are not sure exactly what happened in every case:
https://blog.torproject.org/blog/hidden-services-need-some-love
https://blog.torproject.org/blog/thoughts-and-concerns-about-operation-onymous
Quote
...
Essentially all anonymous networks suffer three fundamental design problems which make them very easy for the NSA to de-anonymize:
1) Sybil attacks...
2) Denial of service attacks...
3) Low latency relaying...
4) Tor adds exit nodes interfacing to HTTPS which make correlation attacks...
tabnloz, very good. You've almost got it entirely.
Cash is going away. They are phasing it out such as by lowering the ATM withdrawal amounts, confiscating cash at borders, and civil forfeiture laws in the USA where they take your cash for any suspicion of illegal activity and they don't need to prove it (your cash is guilty until proven innocent, because it doesn't have human rights!).
The elite appear to be using Bitcoin to force the banking systems to go electronic in order to compete. Realize the elite can't rule by top-down edicts, because they would become the target of organized resistance. The elite rule by clever deceptions. I believe Bitcoin was created with an elite team of cryptographers from the NSA with funding from the DEEP STATE, i.e. the $2.3 trillion that Donald Rumsfeld admitted on the eve of 9/11 was missing from the Pentagon budget (cumulatively over the decades).
I believe that elite team intentionally (secretly subverting the DEEP STATE that contracted them) or inadvertently launched a market for a real anonymous currency and internet. I believe we can invent crypto-currency that can protect us and work as cash did and with extra beneficial features. Thus I believe Bitcoin will not be the only popular altcoin. But the proof of this will be in the pudding so to speak. Someone has to actually invent something worthwhile.
Cash is going away. They are phasing it out such as by lowering the ATM withdrawal amounts, confiscating cash at borders, and civil forfeiture laws in the USA where they take your cash for any suspicion of illegal activity and they don't need to prove it (your cash is guilty until proven innocent, because it doesn't have human rights!).
The elite appear to be using Bitcoin to force the banking systems to go electronic in order to compete. Realize the elite can't rule by top-down edicts, because they would become the target of organized resistance. The elite rule by clever deceptions. I believe Bitcoin was created with an elite team of cryptographers from the NSA with funding from the DEEP STATE, i.e. the $2.3 trillion that Donald Rumsfeld admitted on the eve of 9/11 was missing from the Pentagon budget (cumulatively over the decades).
I believe that elite team intentionally (secretly subverting the DEEP STATE that contracted them) or inadvertently launched a market for a real anonymous currency and internet. I believe we can invent crypto-currency that can protect us and work as cash did and with extra beneficial features. Thus I believe Bitcoin will not be the only popular altcoin. But the proof of this will be in the pudding so to speak. Someone has to actually invent something worthwhile.
Changing the leaders of central planning to engineers or traders won't change the fact that the power vacuum will force the most corrupt to rise to the top and "winner take all". Armstrong is wasting his fucking time [with politics and central planning]. The only possible solution is as it has always been since 6000 B.C., which is private money for the Private waves in Armstrong's cyclical model of oscillation between resets of the political MORASS. Armstrong believes private money is impossible in the digital age. If he is correct, then the human race will go extinct. I know the technology of cryptography and anonymity. I know Armstrong is incorrect. We will have private money in the digital age. The collective morass will eventually have to put a chip inside our body in order to attempt to stop private money (but that is for a future time, not this cycle).
Armstrong apparently doesn't understand or believe that anonymous crypto-currency is plausible.
http://armstrongeconomics.com/2015/03/14/real-estate-15yr-v-30yr-mortgage-new-electronic-currency-coming/
Anonymous crypto-currency and anonymous internet communication is plausible. Bitcoin and Tor are not sufficient.
We have the technology to do it. It is just a matter of implementation.
Btw, I know how to make a crypto-currency WITHOUT A LEDGER! Completely decentralized! (from a transactions point-of-view) Even if they shut down the internet, they can't entirely stop this currency from functioning. I am not revealing my secret just yet. Soon.
http://armstrongeconomics.com/2015/03/14/real-estate-15yr-v-30yr-mortgage-new-electronic-currency-coming/
Quote from: Armstrong
Paper currency will be eliminated and we are headed into purely electronic money. This will be the BITCOIN without the BITCOIN. That is a basic model, which is why they have not shut it down allowing it to survive purely to monitor its performance. Of course those who have used BITCOIN will wake up with a shock when the IRS will hit them for taxes, penalties, and interest on past transactions. They think they have an alternative. That is just silly. The Feds have demanded all data from Ebay and PayPal so that if you sell junk from your garbage on line, they get their piece of the transaction. So you really think they will let Bitcoin escape? They are hunting money EVERYWHERE!
Anonymous crypto-currency and anonymous internet communication is plausible. Bitcoin and Tor are not sufficient.
We have the technology to do it. It is just a matter of implementation.
Btw, I know how to make a crypto-currency WITHOUT A LEDGER! Completely decentralized! (from a transactions point-of-view) Even if they shut down the internet, they can't entirely stop this currency from functioning. I am not revealing my secret just yet. Soon.
I already said that Bitcoin is controlled by 1 - 4 mining pools, so it is not controlled by "We The People".
Can you give me an example of a currency that is indeed decentralized if you think bitcoin or any crypto isn't? I also don't get how bitcoin can be controlled by those with political power. Seems pretty free from that at the momemt.
Bitcoin is not decentralized. Don't make me repeat this FACT again:
So for the currently bitcoin network with 8000 nodes, it can't tolerant collude by 4 top pools(actually, many ppls suspect that GHASH put its computing power in the shadow to hide the fact it controlls over 50% of the total computing power), the fault tolerant is 0.05%.
In addition to the pools being centralized, Bitcoin relies on centralized checkpoints controlled by the core developers.
Also I had already provided the following link to you twice, don't make provide it again:
The nations of the world will agree to a one-world RESERVE currency (not a political union!) because they resent the free ride the USA has gotten by being in control of the world's reserve currency.
But please realize this is all just a ruse for the global banksters to have even more control and do even greater corruption in the future by cleverly hiding their central banking manipulation in "international policy objectives" just as the Fed is hiding their funding of the banksters in "domestic policy objectives".
The only way the powers-that-be will allow Bitcoin to become the one-world reserve currency is if they control it. As I said, Bitcoin is controlled by 1 - 4 mining peers (i.e. they have greater than 50% of Bitcoin's network hash rate), thus the powers-that-be will be able to easily control Bitcoin when they are ready to take over control.
Perhaps you don't understand that you could have 20 mining pools all secretly owned by the same entity. In proof-of-work, the variance of earnings is inversely related to the percentage of the network hash rate the mining pool has, thus users will always favor mining pools that have double digit percentage of the Bitcoin network hash rate.
Bitcoin will never be decentralized. I already quoted upthread my other thread that explains how to get true decentralization by having multiple competing currencies each pegged with an options market to thedomaindominant unit-of-account. This will be the future of crypto-currency. But this will not be a dominant unit-of-account. The dominant unit-of-account will always be what is regulated, because fractional reserve banking (i.e. debt-based booms and busts) is demanded by the public that loves debt financiing and it is inherently a bankrupt financial system paradigm.
But please realize this is all just a ruse for the global banksters to have even more control and do even greater corruption in the future by cleverly hiding their central banking manipulation in "international policy objectives" just as the Fed is hiding their funding of the banksters in "domestic policy objectives".
The only way the powers-that-be will allow Bitcoin to become the one-world reserve currency is if they control it. As I said, Bitcoin is controlled by 1 - 4 mining peers (i.e. they have greater than 50% of Bitcoin's network hash rate), thus the powers-that-be will be able to easily control Bitcoin when they are ready to take over control.
Perhaps you don't understand that you could have 20 mining pools all secretly owned by the same entity. In proof-of-work, the variance of earnings is inversely related to the percentage of the network hash rate the mining pool has, thus users will always favor mining pools that have double digit percentage of the Bitcoin network hash rate.
Bitcoin will never be decentralized. I already quoted upthread my other thread that explains how to get true decentralization by having multiple competing currencies each pegged with an options market to the
I think bitcoin could rise up as sort of a natural default one world currency for sure. I hope it actually happens as a truly borderless universal currency would be amazing in my opinion.
Impossible. Bitcoin is not decentralized and no crypto-currency can be entirely decentralized. A single, borderless universal currency would NOT be amazing in a good way, rather it would be slavery because it will always be controlled by those who have the most (political) power.
There will never exist such as a thing as a single crypto-currency that is decentralized. It can't exist. Bitcoin is not decentralized. True decentralization will only come from multiple competing currencies, thus of course these can never be the reserve currency.
coinits, calm down you are preaching to the choir. You perhaps don't realize I wrote the syndicated essay Bitcoin : The Digital Kill Switch. I am the one who has been writing that Bitcoin is owned by TPTB.
In spite of the arguable fact that Bitcoin is controlled by the global elite, my guarantee that it won't be the "winner take all" global currency remains certain.
First of all, simpleton readers don't seem to understand the distinction between a reserve currency and a circulating currency. Crypto-currencies are the latter. Dollar and Euro cash are examples of the latter. US Treasury and Euro-denominated bonds are the former (Tier 1 reserve assets in the BIS Basel model). IMF SDRs are the former.
The global elite are planning for a national (or regional) currencies floating against a global reserve currency. And they are planning for circulating currencies which are all digital. Bitcoin is one gambit in that mix.
In spite of the arguable fact that Bitcoin is controlled by the global elite, my guarantee that it won't be the "winner take all" global currency remains certain.
First of all, simpleton readers don't seem to understand the distinction between a reserve currency and a circulating currency. Crypto-currencies are the latter. Dollar and Euro cash are examples of the latter. US Treasury and Euro-denominated bonds are the former (Tier 1 reserve assets in the BIS Basel model). IMF SDRs are the former.
The global elite are planning for a national (or regional) currencies floating against a global reserve currency. And they are planning for circulating currencies which are all digital. Bitcoin is one gambit in that mix.
Seems many readers are confusing Bitcoin with this thread. Bitcoin can never become a reserve currency, because the $200+ trillion of global wealth is not going to be placed in a speculative investment. (Stop with your fantasies about scaling over time, you don't have a clue about reality)
Large capitalists are conservative. They want safety of capital firstmost, then a steady average ROI.
There will never exist such as a thing as a single crypto-currency that is decentralized. It can't exist. Bitcoin is not decentralized. True decentralization will only come from multiple competing currencies, thus of course these can never be the reserve currency.
My thesis is that the Knowledge Age (we are leaving the Industrial Age) reduces the demand for stored monetary capital and increases the demand for stored knowledge capital. The Industrial Age (which is moving towards 0 or negative profit margins in China) required large amounts of fixed capital investment, thus a high demand for stored monetary capital. The factory worker and factory engineer are economically insignificant compared to the NAV capital costs of the factory infrastructure.
Whereas the high profit margins are moving towards the knowledge production sector (software programming, marketing, etc). The Industrial Age is dying economically and along with it will die the demand for stored money. The larger the capital, the less effectively one will be able to invest it with a positve ROI.
Thus we don't need crypto-currency to be a reserve currency. Let the oligarchs (and the socialist sheeople/masses) have their reserve currency and enslaved nation-state governments. That is all part of the process of that paradigm dying.
The Knowledge Age will rise with competing crypto-currencies.
Bitcoin will not "winner take all". I guarantee you that.
Large capitalists are conservative. They want safety of capital firstmost, then a steady average ROI.
There will never exist such as a thing as a single crypto-currency that is decentralized. It can't exist. Bitcoin is not decentralized. True decentralization will only come from multiple competing currencies, thus of course these can never be the reserve currency.
My thesis is that the Knowledge Age (we are leaving the Industrial Age) reduces the demand for stored monetary capital and increases the demand for stored knowledge capital. The Industrial Age (which is moving towards 0 or negative profit margins in China) required large amounts of fixed capital investment, thus a high demand for stored monetary capital. The factory worker and factory engineer are economically insignificant compared to the NAV capital costs of the factory infrastructure.
Whereas the high profit margins are moving towards the knowledge production sector (software programming, marketing, etc). The Industrial Age is dying economically and along with it will die the demand for stored money. The larger the capital, the less effectively one will be able to invest it with a positve ROI.
Thus we don't need crypto-currency to be a reserve currency. Let the oligarchs (and the socialist sheeople/masses) have their reserve currency and enslaved nation-state governments. That is all part of the process of that paradigm dying.
The Knowledge Age will rise with competing crypto-currencies.
Bitcoin will not "winner take all". I guarantee you that.
I never suggested that the reason a crypto-currency would become widely adopted is due to cap on the money supply. In fact, I have often argued that an improved replacement for Bitcoin must have perpetual debasement. Arguably the cap on the number of Bitcoins can be subverted in the future, because Bitcoin is controlled by about 1 - 4 mining pools, thus in essence Bitcoin is controlled by the governments which can regulate those large mining pools. The advantage of crypto-currency is not a fixed money supply. And Bitcoin is the least likely of the crypto-currencies to become widely adopted because it isn't even decentralized and doesn't even have anonymity. A better crypto-currency than Bitcoin will rise soon.
Note Armstrong's analogy about 21 million coins for 300 million Americans shows that he ignorant about crypto-currency. BTC are divisible down to 1 Satoshi (0.00000001 BTC) thus thereisare enough fragments of BTC to supply every human on earth. Armstrong is correct that fixed money supply is deflationary and will never be accepted by the public-at-large, but he fails to articulate the reason why. The better explanation of why the public-at-large will not accept a deflationary currency is because it is incompatible with a fractional reserve banking system and thus incompatible with debt. And people love debt. Where there is no usury, there is no economy and nothing moves (as was evident in the Dark Age). The Middle East was similarly stuck going no where (still riding camels and living in tents in the desert) with their anti-usury stance, but the free money from oil and Armstrong teaching them how to hide usury in leasing gold, broke them free from that anti-usury abyss.
Armstrong seems to think that as long as the national government doesn't borrow, then my point about a reserve currency being an enslavement paradigm doesn't apply:
...
As I said, the public will always demand a fractional reserve banking system. Whether it is sanctioned by a central bank (e.g. the USA after 1913) or ad hoc by private banks (e.g. the USA in the 1800s) doesn't change the fact that the public love debt. Citizenry especially love when the debts are accrued by the collective (e.g. nation, state, province, city, school district, company retirement plan, etc) because they are under the illusion that they get all the benefits without the individual default risk. The citizenry are under the illusion that the default can't be taken directly from the individual. People are too stupid to realize they end up paying it in taxes or economic collapse.
...
I entirely agree with Armstrong. There is no way the debt market will agree to be denominated in some decentralized crypto-currency with no regulation. Because debt operates by leverage and fractional reserves, and thus the people prefer to be lied to and told that defaults will never happen and so the ultimate default is delayed by grouping everyone together in a collective with a central bank. This is more desirable to the public than individual failures haphazardly and more frequently.
Thus a one world reserve currency is coming, and it will not be a crypto-currency. Rather it will be something controlled politically by the powers that be. Everyone who participates in the mainstream debt and bond markets will be operating in that reserve currency dominated system (even if there is a 2-tier system with some nations retaining their own national currencies that float against the reserve unit-of-account).
But my point is orthogonal to that reality. Debt is basically useless in the coming shift from the Industrial Age to the Knowledge Age. Most of all the productive value produced in the future will be from knowledge work. This is not labor. It is not fungible like labor is. Thus it can't be financed. If Armstrong would read my essays, he would understand that there is radical paradigm shift underway which will make the debt based economy wither.
Thus those in the debt based economy with their stored money capital will be in the one world currency enslavement system.
The knowledge age workers do not need any monetary capital. We can generate earnings that are 100s or 1000s times our housing and other expenses. We don't get a rats ass about storing money. We want to save up and store more knowledge.
In our economy, we will be using a fully anonymous and decentralized crypto-currency (that is perpetually debased so it forces rapid dissemination into more knowledge production). We won't pay any taxes, except for the portion of our income that we choose to declare to justify our lifestyle to the tax authorities. The vast majority of our economy will go untaxable.
And our economy will be growing very fast while the debt based economy will be shrinking or growing very slowly.
We can peg our currency to the one world reserve currency using an options market, at some carrying cost (determined by relative volatility). We will choose to use our crypto-currency because our freedom and innovation requires we not be dictated to by a central authority, whether it be taxes, the tsuris of kafkaesque KYC and AML which interfere for example with micropayments, FCC regulation of the internet, etc..
Thus in the end, our currency wins and decentralization wins; and central banks and debt die. The one world reserve currency will be an ephemeral failing paradigm. It will be where all the unproductive people hangout and leech off the collective and default on the lenders. It will go into pernicious and terminal decline into an abyss or Dark Age. While our economy will rise up and take over.
Incorrect! Our problem is the human nature that people love debt, because they like to consume before they earn. Wealth is power law distributed. That is a fact. Thus the middle and lower classes envy collective debt as a way to redistribute from the wealthy back to the lazy. They don't understand that this honey is what attracts the flies of government corruption.
Direct democracy will never be a solution, because human nature doesn't change.
The Knowledge Age is a technological paradigm shift which renders the collective powerless to tax (most of the economic activity which won't be tangible thus can't be tracked once we have good anonymity technology implemented).
Note Armstrong's analogy about 21 million coins for 300 million Americans shows that he ignorant about crypto-currency. BTC are divisible down to 1 Satoshi (0.00000001 BTC) thus there
Armstrong seems to think that as long as the national government doesn't borrow, then my point about a reserve currency being an enslavement paradigm doesn't apply:
...
As I said, the public will always demand a fractional reserve banking system. Whether it is sanctioned by a central bank (e.g. the USA after 1913) or ad hoc by private banks (e.g. the USA in the 1800s) doesn't change the fact that the public love debt. Citizenry especially love when the debts are accrued by the collective (e.g. nation, state, province, city, school district, company retirement plan, etc) because they are under the illusion that they get all the benefits without the individual default risk. The citizenry are under the illusion that the default can't be taken directly from the individual. People are too stupid to realize they end up paying it in taxes or economic collapse.
...
I entirely agree with Armstrong. There is no way the debt market will agree to be denominated in some decentralized crypto-currency with no regulation. Because debt operates by leverage and fractional reserves, and thus the people prefer to be lied to and told that defaults will never happen and so the ultimate default is delayed by grouping everyone together in a collective with a central bank. This is more desirable to the public than individual failures haphazardly and more frequently.
Thus a one world reserve currency is coming, and it will not be a crypto-currency. Rather it will be something controlled politically by the powers that be. Everyone who participates in the mainstream debt and bond markets will be operating in that reserve currency dominated system (even if there is a 2-tier system with some nations retaining their own national currencies that float against the reserve unit-of-account).
But my point is orthogonal to that reality. Debt is basically useless in the coming shift from the Industrial Age to the Knowledge Age. Most of all the productive value produced in the future will be from knowledge work. This is not labor. It is not fungible like labor is. Thus it can't be financed. If Armstrong would read my essays, he would understand that there is radical paradigm shift underway which will make the debt based economy wither.
Thus those in the debt based economy with their stored money capital will be in the one world currency enslavement system.
The knowledge age workers do not need any monetary capital. We can generate earnings that are 100s or 1000s times our housing and other expenses. We don't get a rats ass about storing money. We want to save up and store more knowledge.
In our economy, we will be using a fully anonymous and decentralized crypto-currency (that is perpetually debased so it forces rapid dissemination into more knowledge production). We won't pay any taxes, except for the portion of our income that we choose to declare to justify our lifestyle to the tax authorities. The vast majority of our economy will go untaxable.
And our economy will be growing very fast while the debt based economy will be shrinking or growing very slowly.
We can peg our currency to the one world reserve currency using an options market, at some carrying cost (determined by relative volatility). We will choose to use our crypto-currency because our freedom and innovation requires we not be dictated to by a central authority, whether it be taxes, the tsuris of kafkaesque KYC and AML which interfere for example with micropayments, FCC regulation of the internet, etc..
Thus in the end, our currency wins and decentralization wins; and central banks and debt die. The one world reserve currency will be an ephemeral failing paradigm. It will be where all the unproductive people hangout and leech off the collective and default on the lenders. It will go into pernicious and terminal decline into an abyss or Dark Age. While our economy will rise up and take over.
Quote from: Armstrong
Our problem is not what is money, it is government and its endless historical evolution toward corruption.
Incorrect! Our problem is the human nature that people love debt, because they like to consume before they earn. Wealth is power law distributed. That is a fact. Thus the middle and lower classes envy collective debt as a way to redistribute from the wealthy back to the lazy. They don't understand that this honey is what attracts the flies of government corruption.
Direct democracy will never be a solution, because human nature doesn't change.
The Knowledge Age is a technological paradigm shift which renders the collective powerless to tax (most of the economic activity which won't be tangible thus can't be tracked once we have good anonymity technology implemented).
Re: One-world reserve currency inevitable and will enslave all nations?
---------------------------- Original Message ----------------------------
Subject: Mar 20: Armstrong (& most humans) is a Marxist! (even he doesn't realize it)
From: iamback
Date: Fri, March 20, 2015 8:30 am
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Sheesh CoinCube, your Marxist tilt makes you so gullible. I expect greater rationality from you with your math background! Where did you attain the Maxist indoctrination? How can you rid yourself of that mental disease?
The Dunbar number (the hypothesized maximum number of people man can maintain stable social relationships with) is thought to be anywhere between 150-250. It seems reasonable that with the aid of modern technology and only for trade this could be extended by a factor of at least 2-5 before you start to hit serious issues with reputation and scaling.
Absolutely false!
The actual number (when applied to this context) is well below a 100, because people simply don't have enough time to both work, raise a family, and be on top of the myriad of ways that those with reputation secretly (i.e. opaquely through a side channel outside the transparent paradigm) aggregate power.
http://armstrongeconomics.com/2015/03/17/the-majority-are-just-fools/
To Armstrong, that is the reason that even direct democracy will never solve the dilemma of politics being a power vacuum where the winner takes all, e.g. the DEEP STATE which is now in control.
Proxies for investigation and reporting such as the media can be controlled with power, thus they are not a fulcrum which can be used to raise the Dunbar limit. Politics only works in small isolated groups. We humans are still trying to do what we did to organize ourselves as hunter-gatherers, but this evolutionary ingrained paradigm causes us to be Marxist and enslave ourselves. We wonder why we are enslaved when we trust politics above our Dunbar limit and then blame what is natural for the cause, e.g. blaming greed, filling of power vacuums (thermodynamics & entropy), and our ability to exist (i.e. non-uniform distributions of skills, talents, interest, wealth, personality, etc[1]).
I have risen above my hunter-gatherer brain, but it seems most people can't evolve! Including both CoinCube and Armstrong! They just don't get it!
Again for the 100th time (fuck I am tired of writing the damn same thing over and over and the gullible Marxists just can't get it and that is why we must crash and burn), I will quote about the Logic of Collective Action about how power MUST aggregate to those who are the most corrupt:
http://esr.ibiblio.org/?p=984
Changing the leaders of central planning to engineers or traders won't change the fact that the power vacuum will force the most corrupt to rise to the top and "winner take all". Armstrong is wasting his fucking time. The only possible solution is as it has always been since 6000 B.C., which is private money for the Private waves in Armstrong's cyclical model of oscillation between resets of the political MORASS. Armstrong believes private money is impossible in the digital age. If he is correct, then the human race will go extinct. I know the technology of cryptography and anonymity. I know Armstrong is incorrect. We will have private money in the digital age. The collective morass will eventually have to put a chip inside our body in order to attempt to stop private money (but that is for a future time, not this cycle).
[1] I am not going to explain all over again why we can't exist without diversity and how for us to all be the same and omniscient would require the speed-of-light to be infinite which would collapse the present and past into an infinitesimal point in time, c.f. my blog posts which eludicated this is great detail:
http://unheresy.com/Information%20Is%20Alive.html
http://unheresy.com/The%20Universe.html
Nobody wants a money that has a limited scope. Precisely what makes money useful is it raises the efficiency of trade. The poor don't want some unit which they can only get one or two things in exchange for. They want fungible money just like the rest of us do!
And non-anonymous ledger isn't going to help anyone escape taxation. The government will threaten to cut off their welfare benefits.
The idea is the insanely stupid idea, I can't even believe you fell for it! Cripes, I am very disappointed in you. You have absolutely no talent whatsoever as an entrepreneur. You are too far removed from reality.
I find myself in the odd position of quoting Martin Armstrong back at you.
http://armstrongeconomics.com/2013/10/13/solution/
On this issue as on many others my friend we agree on the overall picture but not the details. Like Armstrong I also believe government can eventually be reformed. It will not come easy and it will not come soon (definitly not before a major collapse and probably not this generation) but I believe it can eventually be done.
You can join Armstrong and both of you can be good Marxists who believe you can top-down manage the universe.
Sorry I am smarter than you guys.
P.S. I suspect Armstrong is starting to realize I am correct. I think he is too smart not to get this. I hope I am not disappointed by him.
Subject: Mar 20: Armstrong (& most humans) is a Marxist! (even he doesn't realize it)
From: iamback
Date: Fri, March 20, 2015 8:30 am
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Sheesh CoinCube, your Marxist tilt makes you so gullible. I expect greater rationality from you with your math background! Where did you attain the Maxist indoctrination? How can you rid yourself of that mental disease?
All reputation systems scale to "winner take all". Humans can manage this in small tribes within their Dunbar limit where they can see all the shit that everyone does to minute detail so the tribal leader is held accountable. But we don't live in isolated tribes any more. Thermodynamics applies in spades (c.f. Coasian barriers, closed vs. open systems, etc).
The Dunbar number (the hypothesized maximum number of people man can maintain stable social relationships with) is thought to be anywhere between 150-250. It seems reasonable that with the aid of modern technology and only for trade this could be extended by a factor of at least 2-5 before you start to hit serious issues with reputation and scaling.
Absolutely false!
The actual number (when applied to this context) is well below a 100, because people simply don't have enough time to both work, raise a family, and be on top of the myriad of ways that those with reputation secretly (i.e. opaquely through a side channel outside the transparent paradigm) aggregate power.
http://armstrongeconomics.com/2015/03/17/the-majority-are-just-fools/
Quote from: Armstrong
In 2000, Bill and Hillary Clinton owed millions of dollars in legal debt. Since then, theyve earned over $130 million. Where did the money come from? Most people assume that the Clintons amassed their wealth through lucrative book deals and high-six figure fees for speaking gigs. Now, Peter Schweizer shows who is really behind those enormous payments.
I was asked to review the documents when Hillary amazingly made hundreds of thousands of dollars trading futures at the same precise time she was in meetings. Her lawyer had an account at the same firm and a trade would be put on but left open until the end of the day. It would be a spread long and short the same commodity. At the end of the day, the losing trade went to her lawyer and the win into her account. Today, that is called money laundering.
This is why society must crash and burn. It is just too damn corrupt and the majority are simply sheep who believe whatever they say.
I was asked to review the documents when Hillary amazingly made hundreds of thousands of dollars trading futures at the same precise time she was in meetings. Her lawyer had an account at the same firm and a trade would be put on but left open until the end of the day. It would be a spread long and short the same commodity. At the end of the day, the losing trade went to her lawyer and the win into her account. Today, that is called money laundering.
This is why society must crash and burn. It is just too damn corrupt and the majority are simply sheep who believe whatever they say.
To Armstrong, that is the reason that even direct democracy will never solve the dilemma of politics being a power vacuum where the winner takes all, e.g. the DEEP STATE which is now in control.
Proxies for investigation and reporting such as the media can be controlled with power, thus they are not a fulcrum which can be used to raise the Dunbar limit. Politics only works in small isolated groups. We humans are still trying to do what we did to organize ourselves as hunter-gatherers, but this evolutionary ingrained paradigm causes us to be Marxist and enslave ourselves. We wonder why we are enslaved when we trust politics above our Dunbar limit and then blame what is natural for the cause, e.g. blaming greed, filling of power vacuums (thermodynamics & entropy), and our ability to exist (i.e. non-uniform distributions of skills, talents, interest, wealth, personality, etc[1]).
I have risen above my hunter-gatherer brain, but it seems most people can't evolve! Including both CoinCube and Armstrong! They just don't get it!
Again for the 100th time (fuck I am tired of writing the damn same thing over and over and the gullible Marxists just can't get it and that is why we must crash and burn), I will quote about the Logic of Collective Action about how power MUST aggregate to those who are the most corrupt:
http://esr.ibiblio.org/?p=984
Quote from: Eric S Raymond @ 155+IQ progenitor of the "open source" movement
Some Iron Laws of Political Economics
Mancur Olson, in his book The Logic Of Collective Action, highlighted the central problem of politics in a democracy. The benefits of political market-rigging can be concentrated to benefit particular special interest groups, while the costs (in higher taxes, slower economic growth, and many other second-order effects) are diffused through the entire population.
The result is a scramble in which individual interest groups perpetually seek to corner more and more rent from the system, while the incremental costs of this behavior rise slowly enough that it is difficult to sustain broad political opposition to the overall system of political privilege and rent-seeking.
When you add to Olsons model the fact that the professional political class is itself a special interest group which collects concentrated benefits from encouraging rent-seeking behavior in others, it becomes clear why, as Olson pointed out, good government is a public good subject to exactly the same underproduction problems as other public goods. Furthermore, as democracies evolve, government activity that might produce good government tends to be crowded out by coalitions of rent-seekers and their tribunes.
This general model has consequences. Here are some of them:
There is no form of market failure, however egregious, which is not eventually made worse by the political interventions intended to fix it.
Political demand for income transfers, entitlements and subsidies always rises faster than the economy can generate increased wealth to supply them from.
Although some taxes genuinely begin by being levied for the benefit of the taxed, all taxes end up being levied for the benefit of the political class.
The equilibrium state of a regulatory agency is to have been captured by the entities it is supposed to regulate.
The probability that the actual effects of a political agency or program will bear any relationship to the intentions under which it was designed falls exponentially with the amount of time since it was founded.
The only important class distinction in any advanced democracy is between those who are net producers of tax revenues and those who are net consumers of them.
Corruption is not the exceptional condition of politics, it is the normal one.
Mancur Olson, in his book The Logic Of Collective Action, highlighted the central problem of politics in a democracy. The benefits of political market-rigging can be concentrated to benefit particular special interest groups, while the costs (in higher taxes, slower economic growth, and many other second-order effects) are diffused through the entire population.
The result is a scramble in which individual interest groups perpetually seek to corner more and more rent from the system, while the incremental costs of this behavior rise slowly enough that it is difficult to sustain broad political opposition to the overall system of political privilege and rent-seeking.
When you add to Olsons model the fact that the professional political class is itself a special interest group which collects concentrated benefits from encouraging rent-seeking behavior in others, it becomes clear why, as Olson pointed out, good government is a public good subject to exactly the same underproduction problems as other public goods. Furthermore, as democracies evolve, government activity that might produce good government tends to be crowded out by coalitions of rent-seekers and their tribunes.
This general model has consequences. Here are some of them:
There is no form of market failure, however egregious, which is not eventually made worse by the political interventions intended to fix it.
Political demand for income transfers, entitlements and subsidies always rises faster than the economy can generate increased wealth to supply them from.
Although some taxes genuinely begin by being levied for the benefit of the taxed, all taxes end up being levied for the benefit of the political class.
The equilibrium state of a regulatory agency is to have been captured by the entities it is supposed to regulate.
The probability that the actual effects of a political agency or program will bear any relationship to the intentions under which it was designed falls exponentially with the amount of time since it was founded.
The only important class distinction in any advanced democracy is between those who are net producers of tax revenues and those who are net consumers of them.
Corruption is not the exceptional condition of politics, it is the normal one.
Changing the leaders of central planning to engineers or traders won't change the fact that the power vacuum will force the most corrupt to rise to the top and "winner take all". Armstrong is wasting his fucking time. The only possible solution is as it has always been since 6000 B.C., which is private money for the Private waves in Armstrong's cyclical model of oscillation between resets of the political MORASS. Armstrong believes private money is impossible in the digital age. If he is correct, then the human race will go extinct. I know the technology of cryptography and anonymity. I know Armstrong is incorrect. We will have private money in the digital age. The collective morass will eventually have to put a chip inside our body in order to attempt to stop private money (but that is for a future time, not this cycle).
[1] I am not going to explain all over again why we can't exist without diversity and how for us to all be the same and omniscient would require the speed-of-light to be infinite which would collapse the present and past into an infinitesimal point in time, c.f. my blog posts which eludicated this is great detail:
http://unheresy.com/Information%20Is%20Alive.html
http://unheresy.com/The%20Universe.html
So an enhanced barter system with the aid of technology could probably function reasonably well as long as the group size was limited to somewhere between 300-1000 people. Small trading groups could potentially exist within a larger community. Barter transactions would be incentivized by tax avoidance and the need to not compromize government benefits and inhibited by the natural inefficiencies that are unavoidable with barter.
Would it work? I have no idea. The poor are typically poor for reasons that go far beyond bad luck. However, their economic incentives going forward will increasingly favor barter transactions so it seems at least plausible that something like this would help them at least to some degree.
I am of the opinion that any system that encourages and allows trade to occur without debt and without fiat is a step in the right direction. Some attempted solutions may be more useful than others and some will fail outright but I believe it is a mistake to summarily dismiss and discourage those with interesting ideas.
Would it work? I have no idea. The poor are typically poor for reasons that go far beyond bad luck. However, their economic incentives going forward will increasingly favor barter transactions so it seems at least plausible that something like this would help them at least to some degree.
I am of the opinion that any system that encourages and allows trade to occur without debt and without fiat is a step in the right direction. Some attempted solutions may be more useful than others and some will fail outright but I believe it is a mistake to summarily dismiss and discourage those with interesting ideas.
Nobody wants a money that has a limited scope. Precisely what makes money useful is it raises the efficiency of trade. The poor don't want some unit which they can only get one or two things in exchange for. They want fungible money just like the rest of us do!
And non-anonymous ledger isn't going to help anyone escape taxation. The government will threaten to cut off their welfare benefits.
The idea is the insanely stupid idea, I can't even believe you fell for it! Cripes, I am very disappointed in you. You have absolutely no talent whatsoever as an entrepreneur. You are too far removed from reality.
That you can fall into this shit which has been tried over and over in history just goes to show how hopeless it is to reform a MOR-ASS. Humans are really blinded to their fate in the Petri dish. They will continue to make the same mistakes over and over again.
I find myself in the odd position of quoting Martin Armstrong back at you.
http://armstrongeconomics.com/2013/10/13/solution/
Quote from: Martin Armstrong
The system can be reformed. We must eliminate the old guard who refuse to see the light because they are the very problem. This is part of the political reform process that will begin after 2016.
On this issue as on many others my friend we agree on the overall picture but not the details. Like Armstrong I also believe government can eventually be reformed. It will not come easy and it will not come soon (definitly not before a major collapse and probably not this generation) but I believe it can eventually be done.
You can join Armstrong and both of you can be good Marxists who believe you can top-down manage the universe.
Sorry I am smarter than you guys.
P.S. I suspect Armstrong is starting to realize I am correct. I think he is too smart not to get this. I hope I am not disappointed by him.
Re: One-world reserve currency inevitable and will enslave all nations?
Something can be shared without attaching my name to it. I as a reputational entity, am not important. The outcome of the work is. It shouldn't need my reputation to succeed. It should succeed on its own merits.
Re: One-world reserve currency inevitable and will enslave all nations?
I can't respond to that because everything that I might be involved in is vaporware at the moment. And I don't even know how I would present it to this forum if at all, considering that I had long promised that I would never publicly endorse an altcoin.
Put it this way, if ever I work on something that is the solution, you will surely know about it. Otherwise it wasn't the solution!
If you mean you want to be first to speculate on it, or invest in something I would work on, I think there are people who follow me more closely and perhaps they will note your username here and private message you if they see something developing they think is important.
At this time, I am working on another (non-crypto-currency) software project and it won't be completed for at least another 3 weeks.
Also if I work on something, it will probably be (eventually) open sourced and it would not necessarily have my name on it (I haven't decided).
Also as I mentioned in the the multiple currencies thread I started the Altcoin discussion forum, I believe in making a system that is open to competition from new ideas.
Those who have followed me know that I was suffering from a debilitating chronic illness and this impacted my ability to work which is pretty much why I produced nothing but forum posts (and unpublished code) in period from 2012 - 2014. My productivity hinges on my health. I recently started a RAW vegetable diet with no carbohydrates, drinking olive oil, and most of my protein from WHEY ISOLATE (to reduce L-arginine which otherwise promotes growth of viruses similar to one I have). I have seen some signs that I have been able to work up to 18 hours a day as I used to before getting ill. My insomnia may have abated. And my athletics has increased and my headaches have decreased. If this sustains as a cure, then I might be on to a new wave of high productivity. Past high hopes have usually been disappointing. It is too soon to know as I am only on this diet for a few days thus far; before that I was on a Guyabano diet and over the past year or so experimenting with numerous homeopathic treatments such as CoQ10, AHCC, EGCG, Co-enzymated B complex, etc..
Put it this way, if ever I work on something that is the solution, you will surely know about it. Otherwise it wasn't the solution!
If you mean you want to be first to speculate on it, or invest in something I would work on, I think there are people who follow me more closely and perhaps they will note your username here and private message you if they see something developing they think is important.
At this time, I am working on another (non-crypto-currency) software project and it won't be completed for at least another 3 weeks.
Also if I work on something, it will probably be (eventually) open sourced and it would not necessarily have my name on it (I haven't decided).
Also as I mentioned in the the multiple currencies thread I started the Altcoin discussion forum, I believe in making a system that is open to competition from new ideas.
Those who have followed me know that I was suffering from a debilitating chronic illness and this impacted my ability to work which is pretty much why I produced nothing but forum posts (and unpublished code) in period from 2012 - 2014. My productivity hinges on my health. I recently started a RAW vegetable diet with no carbohydrates, drinking olive oil, and most of my protein from WHEY ISOLATE (to reduce L-arginine which otherwise promotes growth of viruses similar to one I have). I have seen some signs that I have been able to work up to 18 hours a day as I used to before getting ill. My insomnia may have abated. And my athletics has increased and my headaches have decreased. If this sustains as a cure, then I might be on to a new wave of high productivity. Past high hopes have usually been disappointing. It is too soon to know as I am only on this diet for a few days thus far; before that I was on a Guyabano diet and over the past year or so experimenting with numerous homeopathic treatments such as CoQ10, AHCC, EGCG, Co-enzymated B complex, etc..
Re: One-world reserve currency inevitable and will enslave all nations?
---------------------------- Original Message ----------------------------
Subject: Mar 20: Asia is rapidly adopting automation (the West is falling back to "undeveloped")
From: iamback
Date: Thu, March 19, 2015 1:48 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
...
In addition to the very low rate of government spending (and cost of regulation) as a percent of GDP in Asia as compared to the West, the other reason Asia will accelerate past the West is because Asia is young and the youth here don't even remember a world without mobile phones and internet! Thus Asia is ready to adopt the Knowledge Age quickly, because they are young and don't have a bankrupt government (too many constituent liabilities in the West) that will stand in the way like the NSA and Homeland Security are destroying high tech in the USA. In fact, I am predicting New Zealand to be the next Silicon valley, because of KimDotCom's initiative and political success and because in the new era of virtual collaboration then the best programmers (like myself) will choose to live and work in paradise (have you seen photos of New Zealand?)!
Just look at the cities in Asia and Dubai as compared to the cities in the West. The former have radical new high-tech architecture, and latter look like they are stuck in the 1960s.
Japan & Brazil:
USA:
Indeed it is true that many people will not be able to adapt to the requirements for full and most gainful work in the fledgling Knowledge Age, and this will be most egregious amongst the baby boomers in the West! A confluence of factors is hitting the demise of the West and it will simply fall into the abyss, there is no possible solution (other than immigrating Asia to the West and restructuring all the constituent liabilities).
It is true that the entire economy won't be automated by 2033. Oxford University's research projects 47% of existing jobs as of 2013 would be replaced with automation within 20 years.
But the salient point is that the sectors of the economy that are not automated will be 3 to 4 orders-of-magnitude less profitable and productive. Thus, those undeveloped areas (e.g. the currently "developed" western nations) will fall into the abyss with the one-world reserve currency of debt financing and socialism (I demonstrated in recent post these evils are symbiotic and sleep together).
So fuck your one-world, restructuring bullshit. It ain't the solution nor the real future. That top-down crap is for managing the slaves. The future will grass-roots break free from that.
Sure I will support your "Solutions" as a way to mitigate a Dark Age, but I doubt you will get traction. It will be the same as every other attempt you tried such as reforming taxation in the USA (when you debated Steve Forbes) and when you tried to advise them not to create the Euro without merging the national debts. You will pull your hair out in frustration with the MOR-ASS in the West. Instead I will move forward to the bottom-up future of the Knowledge Age!
I know which of these will be more effective and move faster.
http://armstrongeconomics.com/2015/03/19/jumping-to-conclusions/
Subject: Mar 20: Asia is rapidly adopting automation (the West is falling back to "undeveloped")
From: iamback
Date: Thu, March 19, 2015 1:48 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
...
In addition to the very low rate of government spending (and cost of regulation) as a percent of GDP in Asia as compared to the West, the other reason Asia will accelerate past the West is because Asia is young and the youth here don't even remember a world without mobile phones and internet! Thus Asia is ready to adopt the Knowledge Age quickly, because they are young and don't have a bankrupt government (too many constituent liabilities in the West) that will stand in the way like the NSA and Homeland Security are destroying high tech in the USA. In fact, I am predicting New Zealand to be the next Silicon valley, because of KimDotCom's initiative and political success and because in the new era of virtual collaboration then the best programmers (like myself) will choose to live and work in paradise (have you seen photos of New Zealand?)!
Just look at the cities in Asia and Dubai as compared to the cities in the West. The former have radical new high-tech architecture, and latter look like they are stuck in the 1960s.
Japan & Brazil:
USA:
Indeed it is true that many people will not be able to adapt to the requirements for full and most gainful work in the fledgling Knowledge Age, and this will be most egregious amongst the baby boomers in the West! A confluence of factors is hitting the demise of the West and it will simply fall into the abyss, there is no possible solution (other than immigrating Asia to the West and restructuring all the constituent liabilities).
Quote from: Armstrong
A plumber and a painter may not be easily replaced but a taxi-driver will eventually be replaced.
...
...
It is true that the entire economy won't be automated by 2033. Oxford University's research projects 47% of existing jobs as of 2013 would be replaced with automation within 20 years.
But the salient point is that the sectors of the economy that are not automated will be 3 to 4 orders-of-magnitude less profitable and productive. Thus, those undeveloped areas (e.g. the currently "developed" western nations) will fall into the abyss with the one-world reserve currency of debt financing and socialism (I demonstrated in recent post these evils are symbiotic and sleep together).
So fuck your one-world, restructuring bullshit. It ain't the solution nor the real future. That top-down crap is for managing the slaves. The future will grass-roots break free from that.
Sure I will support your "Solutions" as a way to mitigate a Dark Age, but I doubt you will get traction. It will be the same as every other attempt you tried such as reforming taxation in the USA (when you debated Steve Forbes) and when you tried to advise them not to create the Euro without merging the national debts. You will pull your hair out in frustration with the MOR-ASS in the West. Instead I will move forward to the bottom-up future of the Knowledge Age!
I know which of these will be more effective and move faster.
http://armstrongeconomics.com/2015/03/19/jumping-to-conclusions/
Quote from: Armstrong
...
This is something to start the debates and END class warfare which is all about Marxist philosophy. This is all about thinking out the box. A fundamental principle that is just not even considered because the majority assume this is the way we operate is what needs to be challenged. So read before you assume and add to the debate. Trying to criticize something you have not even read is condemning us to the total collapse of the entire system for it will not survive another downturn as is.
This is something to start the debates and END class warfare which is all about Marxist philosophy. This is all about thinking out the box. A fundamental principle that is just not even considered because the majority assume this is the way we operate is what needs to be challenged. So read before you assume and add to the debate. Trying to criticize something you have not even read is condemning us to the total collapse of the entire system for it will not survive another downturn as is.
Re: One-world reserve currency inevitable and will enslave all nations?
---------------------------- Original Message ----------------------------
Subject: Mar 20: industrialism required Fascism (reputation & bartering still doesn't scale in the Knowledge Age)
From: iamback
Date: Thu, March 19, 2015 12:07 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
First let me summarize my understanding of l3552's proposal, to make sure I haven't missed his point.
l3552 proposes to have a decentralized, non-anonymous ledger for barter trading labor-in-kind, e.g. an hour of baby sitting for an hour of baby sitting. I suppose he also proposes that users are free to exchange ledger credits across kinds, e.g. if a pair of users are willing to trade 2 hours of baby sitting for one vehicle oil change. He asserts that the incentive for using this system versus fungible money, is the reputation in the community for helping the economy grow and avoiding the fungible money which the banksters can manipulate through the aggregation of collective power that widespread fungibility enables and requires. In other words, widespread fungible money is a power vacuum and who ever can get their hands on the levers of its debasement and fractional reserve lending, can aggregate power over community and good.
In his latest post, l3552 alludes to my concept that the Industrial Age required fungible money because production required aggregation of large fixed capital investment for factories, wherein the engineering component of the investment was an insignificant economic factor. These banksters and industrialists became Fascists out of necessity (<--- click the links to understand more deeply --->), because fungible money inherently drives the risky, bankrupt paradigm of fractional reserve banking and socialism. When a capitalist makes an investment in a factory with a NAV lifespan of decades, he needs to be sure that risky paradigm won't destroy his investment. (btw, this is also a reason that sometimes capitalism gets associated with Fascism, but people need to remember that capital is not just stored money, it is any productive capacity, e.g. knowledge is capital, social skills is capital, etc.)
Whereas, the Knowledge Age is rising to bring production economics back to the individual and l3552 is proposing to eliminate the power vacuum by making the aggregation of representations of capital non-fungible (l3552 refers to fungible money as "commodization").
For example, in theory Knowledge Age workers are not most incentivized to store money, rather instead to store knowledge; thus they want to promote knowledge trading. For example, a programmer is most juiced about finding some new awesome code to integrate with his own, e.g. I started programming for Android and Scala because these are cutting edge moving technology and society forward faster. This is why I had proposed back in 2012 on my Copute.com computer language development website site (btw I need to renew this domain) that programmers could trade LOC (lines of code) as barter mechanism, but fungible within their desired target market.
There are some similarities between l3552's proposal and Catherine Austin Fitts' (solari.com) proposal for doing finance on a local community level.
The reason l3552's (and Fitts') proposal won't work is the analogous visualized criticism I made upthread wherein I explained that efficiency trumps inefficiency. Why would someone dig canals with spoons when they can work for an hour at minimum wage, purchase 4 gallons of gas, then do the equivalent of 2000 man-hours of hard labor with a combustion engine. Moreover how could someone who egregiously wastes his time be more productive and significant in the economy than someone who doesn't.
So the problem with barter systems is they are inefficient, and the one thing Knowledge Age workers detest, it is inefficiency. The entire reason the Knowledge Age trumps the Industrial Age is because efficiency wins in nature. When ideas can be produced closer to their source of inspiration (e.g. 3D printing), then granularly matched production to the granular (not one-size-fits-all mass production) market demand accelerates faster. You want a custom designed pre-fab house[1] or car[2] completed tomorrow? Okay 3D printing and we don't need to build a factory first.
http://armstrongeconomics.com/2015/03/19/evolutionary-process-of-labor/
Armstrong means that if you want to not do manual labor (e.g. manual bookkeeping account on the computer), then learn to program to automate it and be more efficient.
Reputation is important (e.g. you want to use my software code, because you know I am German and perfectionist), but it is orthogonal to the efficiency of trading value.
Also reputation in trading value can become very problematic. This the "coin taint" issue in non-anonymous Bitcoin (which is why gmaxell invent CoinJoin the precursor of Darkcoin, which btw I as AnonyMint was the first to point out could not scale because it can jammed), wherein certain coins won't be accepted or processed because of certain histories of trading. In short, the only way reputation scales is via political control, i.e. you want to drive the Knowledge Age back into the chains of Fascism that the industrialists couldn't escape!
If you want to build orthogonal reputation tracking systems, that is fine. But you can't tie the units of money to them, because otherwise there is no means to break free from "winner takes all" paradigm of politics.
Sorry guys I went down all these thought experiments years ago. That is why I get pissed off when people waste my time and don't go read what I already figured out years ago. Because I am in implementation mode now, and I only have a few months to get my work completed. You all might misperceive it as a lack of humanity on my part, but actually if I am not efficient then I am not helping mankind. And trust me, the world is depending on me right now. I don't care about those who are jealous. Go masturbate. I am busy.
http://esr.ibiblio.org/?p=3514
P.S. lately I don't have an hour to put into writing each of my posts carefully as I did the above one. Sorry I am working 18 hours daily.
[1] http://www.3ders.org/articles/20150118-winsun-builds-world-first-3d-printed-villa-and-tallest-3d-printed-building-in-china.html
[2] https://localmotors.com/3d-printed-car/
Subject: Mar 20: industrialism required Fascism (reputation & bartering still doesn't scale in the Knowledge Age)
From: iamback
Date: Thu, March 19, 2015 12:07 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
First let me summarize my understanding of l3552's proposal, to make sure I haven't missed his point.
l3552 proposes to have a decentralized, non-anonymous ledger for barter trading labor-in-kind, e.g. an hour of baby sitting for an hour of baby sitting. I suppose he also proposes that users are free to exchange ledger credits across kinds, e.g. if a pair of users are willing to trade 2 hours of baby sitting for one vehicle oil change. He asserts that the incentive for using this system versus fungible money, is the reputation in the community for helping the economy grow and avoiding the fungible money which the banksters can manipulate through the aggregation of collective power that widespread fungibility enables and requires. In other words, widespread fungible money is a power vacuum and who ever can get their hands on the levers of its debasement and fractional reserve lending, can aggregate power over community and good.
In his latest post, l3552 alludes to my concept that the Industrial Age required fungible money because production required aggregation of large fixed capital investment for factories, wherein the engineering component of the investment was an insignificant economic factor. These banksters and industrialists became Fascists out of necessity (<--- click the links to understand more deeply --->), because fungible money inherently drives the risky, bankrupt paradigm of fractional reserve banking and socialism. When a capitalist makes an investment in a factory with a NAV lifespan of decades, he needs to be sure that risky paradigm won't destroy his investment. (btw, this is also a reason that sometimes capitalism gets associated with Fascism, but people need to remember that capital is not just stored money, it is any productive capacity, e.g. knowledge is capital, social skills is capital, etc.)
Whereas, the Knowledge Age is rising to bring production economics back to the individual and l3552 is proposing to eliminate the power vacuum by making the aggregation of representations of capital non-fungible (l3552 refers to fungible money as "commodization").
For example, in theory Knowledge Age workers are not most incentivized to store money, rather instead to store knowledge; thus they want to promote knowledge trading. For example, a programmer is most juiced about finding some new awesome code to integrate with his own, e.g. I started programming for Android and Scala because these are cutting edge moving technology and society forward faster. This is why I had proposed back in 2012 on my Copute.com computer language development website site (btw I need to renew this domain) that programmers could trade LOC (lines of code) as barter mechanism, but fungible within their desired target market.
There are some similarities between l3552's proposal and Catherine Austin Fitts' (solari.com) proposal for doing finance on a local community level.
The reason l3552's (and Fitts') proposal won't work is the analogous visualized criticism I made upthread wherein I explained that efficiency trumps inefficiency. Why would someone dig canals with spoons when they can work for an hour at minimum wage, purchase 4 gallons of gas, then do the equivalent of 2000 man-hours of hard labor with a combustion engine. Moreover how could someone who egregiously wastes his time be more productive and significant in the economy than someone who doesn't.
So the problem with barter systems is they are inefficient, and the one thing Knowledge Age workers detest, it is inefficiency. The entire reason the Knowledge Age trumps the Industrial Age is because efficiency wins in nature. When ideas can be produced closer to their source of inspiration (e.g. 3D printing), then granularly matched production to the granular (not one-size-fits-all mass production) market demand accelerates faster. You want a custom designed pre-fab house[1] or car[2] completed tomorrow? Okay 3D printing and we don't need to build a factory first.
http://armstrongeconomics.com/2015/03/19/evolutionary-process-of-labor/
Quote from: Armstrong
The key is to understand programming. If if you do not desire to sit in front of a computer screen all day, it will become a basic tool like knowing how to read and write.
Armstrong means that if you want to not do manual labor (e.g. manual bookkeeping account on the computer), then learn to program to automate it and be more efficient.
Reputation is important (e.g. you want to use my software code, because you know I am German and perfectionist), but it is orthogonal to the efficiency of trading value.
Also reputation in trading value can become very problematic. This the "coin taint" issue in non-anonymous Bitcoin (which is why gmaxell invent CoinJoin the precursor of Darkcoin, which btw I as AnonyMint was the first to point out could not scale because it can jammed), wherein certain coins won't be accepted or processed because of certain histories of trading. In short, the only way reputation scales is via political control, i.e. you want to drive the Knowledge Age back into the chains of Fascism that the industrialists couldn't escape!
If you want to build orthogonal reputation tracking systems, that is fine. But you can't tie the units of money to them, because otherwise there is no means to break free from "winner takes all" paradigm of politics.
Sorry guys I went down all these thought experiments years ago. That is why I get pissed off when people waste my time and don't go read what I already figured out years ago. Because I am in implementation mode now, and I only have a few months to get my work completed. You all might misperceive it as a lack of humanity on my part, but actually if I am not efficient then I am not helping mankind. And trust me, the world is depending on me right now. I don't care about those who are jealous. Go masturbate. I am busy.
http://esr.ibiblio.org/?p=3514
Quote from: Eric S Raymond
Those who cant build, talk
...There are specific recurring kinds of errors in speculative writing about the Internet that we get exceedingly tired of seeing over and over again. One is blindness to problems of scale; another is handwaving about deployment costs; and a third is inability to notice when a proposed cooperative solution is ruined by misalignment of incentives. There are others, but these will stand as representative for why we very seldom find any value in the writings of people who talk but dont build.
...There are specific recurring kinds of errors in speculative writing about the Internet that we get exceedingly tired of seeing over and over again. One is blindness to problems of scale; another is handwaving about deployment costs; and a third is inability to notice when a proposed cooperative solution is ruined by misalignment of incentives. There are others, but these will stand as representative for why we very seldom find any value in the writings of people who talk but dont build.
P.S. lately I don't have an hour to put into writing each of my posts carefully as I did the above one. Sorry I am working 18 hours daily.
[1] http://www.3ders.org/articles/20150118-winsun-builds-world-first-3d-printed-villa-and-tallest-3d-printed-building-in-china.html
[2] https://localmotors.com/3d-printed-car/
Re: One-world reserve currency inevitable and will enslave all nations?
http://armstrongeconomics.com/2015/03/18/state-of-emergency-in-frankfurt-ecb-protests/
http://armstrongeconomics.com/2015/03/18/ecb-grand-opening-with-tanks-no-journalists/
Quote from: Armstrong
State of Emergency in Frankfurt ECB Protests
This entire experiment with the Euro is literally going down in flame.
This entire experiment with the Euro is literally going down in flame.
http://armstrongeconomics.com/2015/03/18/ecb-grand-opening-with-tanks-no-journalists/
 | Quote from: Armstrong ECB Grand Opening with Tanks & No Journalists? Perhaps the strangest opening ever has marked the ECB in Frankfurt, Germany. The opening of the new, paid by the taxpayer office tower of the ECB, is accompanied by tanks and a military force to protect bankers. Whoever ventured on the road to the east of the city since Monday have to believe the Romans were invading and stood before the gates of the city. The ECB was strangely protected with barriers everywhere you looked, which was a reflection of their total lack of faith and disconnect with the people of Europe. Convoys of police vans, water cannons, tanks, heavy clearance equipment and wheeled APC all surrounded the area expecting a Russian invasion of something..For two days, traffic chaos has been at historical highs that may have exceeded the chaos Obama creates when he want to play golf. The ECB appears to have intentionally tried to intimidate the population to suppress protests given the degree of their unpopularity. They spend $1.4 billion for their new tower and protesters still appeared. This has been at odds with German culture for anyone who has been to Germany will notice that there has been a counter-reaction to the image of Hitler they detest military and police shows. The city of Frankfurt has indeed displayed a longstanding objection to police shows so the strange aspect of this entire affair has been for the police to use this as an excuse to come out of the closet. They seem to have enjoyed the excuse to show force at last if not begging for protesters to bring it one so they can practice how to deal with their dream training for a state of emergency. The Frankfurt police have indeed come out of the closet. Their scaremongering has led to a military display unseen in Germany with creating an exclusion zone, danger zone, water cannons, airplanes, helicopters and about 8000 troops. All of this to protect bankers. Just amazing. What the hell does this imply? Then, believe it or not, the ECB imposed an exclusion of the press. The ECB has decreed that their opening ceremony news agencies are permitted, but not newspaper journalists. Curious. The newspaper embargo raises the question of exactly what is behind this authoritarian show of force in the heart of Germany? |
http://armstrongeconomics.com/2015/03/18/state-of-emergency-in-frankfurt-ecb-protests/
http://armstrongeconomics.com/2015/03/18/ecb-grand-opening-with-tanks-no-journalists/
Quote from: Armstrong
State of Emergency in Frankfurt ECB Protests
This entire experiment with the Euro is literally going down in flame.
This entire experiment with the Euro is literally going down in flame.
http://armstrongeconomics.com/2015/03/18/ecb-grand-opening-with-tanks-no-journalists/
| Quote from: Armstrong ECB Grand Opening with Tanks & No Journalists? Perhaps the strangest opening ever has marked the ECB in Frankfurt, Germany. The opening of the new, paid by the taxpayer office tower of the ECB, is accompanied by tanks and a military force to protect bankers. Whoever ventured on the road to the east of the city since Monday have to believe the Romans were invading and stood before the gates of the city. The ECB was strangely protected with barriers everywhere you looked, which was a reflection of their total lack of faith and disconnect with the people of Europe. Convoys of police vans, water cannons, tanks, heavy clearance equipment and wheeled APC all surrounded the area expecting a Russian invasion of something..For two days, traffic chaos has been at historical highs that may have exceeded the chaos Obama creates when he want to play golf. The ECB appears to have intentionally tried to intimidate the population to suppress protests given the degree of their unpopularity. They spend $1.4 billion for their new tower and protesters still appeared. This has been at odds with German culture for anyone who has been to Germany will notice that there has been a counter-reaction to the image of Hitler they detest military and police shows. The city of Frankfurt has indeed displayed a longstanding objection to police shows so the strange aspect of this entire affair has been for the police to use this as an excuse to come out of the closet. They seem to have enjoyed the excuse to show force at last if not begging for protesters to bring it one so they can practice how to deal with their dream training for a state of emergency. The Frankfurt police have indeed come out of the closet. Their scaremongering has led to a military display unseen in Germany with creating an exclusion zone, danger zone, water cannons, airplanes, helicopters and about 8000 troops. All of this to protect bankers. Just amazing. What the hell does this imply? Then, believe it or not, the ECB imposed an exclusion of the press. The ECB has decreed that their opening ceremony news agencies are permitted, but not newspaper journalists. Curious. The newspaper embargo raises the question of exactly what is behind this authoritarian show of force in the heart of Germany? |
http://armstrongeconomics.com/2015/03/18/state-of-emergency-in-frankfurt-ecb-protests/
http://armstrongeconomics.com/2015/03/18/ecb-grand-opening-with-tanks-no-journalists/
Quote from: Armstrong
State of Emergency in Frankfurt ECB Protests
This entire experiment with the Euro is literally going down in flame.
This entire experiment with the Euro is literally going down in flame.
http://armstrongeconomics.com/2015/03/18/ecb-grand-opening-with-tanks-no-journalists/
| Quote from: Armstrong ECB Grand Opening with Tanks & No Journalists? Perhaps the strangest opening ever has marked the ECB in Frankfurt, Germany. The opening of the new, paid by the taxpayer office tower of the ECB, is accompanied by tanks and a military force to protect bankers. Whoever ventured on the road to the east of the city since Monday have to believe the Romans were invading and stood before the gates of the city. The ECB was strangely protected with barriers everywhere you looked, which was a reflection of their total lack of faith and disconnect with the people of Europe. Convoys of police vans, water cannons, tanks, heavy clearance equipment and wheeled APC all surrounded the area expecting a Russian invasion of something..For two days, traffic chaos has been at historical highs that may have exceeded the chaos Obama creates when he want to play golf. The ECB appears to have intentionally tried to intimidate the population to suppress protests given the degree of their unpopularity. They spend $1.4 billion for their new tower and protesters still appeared. This has been at odds with German culture for anyone who has been to Germany will notice that there has been a counter-reaction to the image of Hitler they detest military and police shows. The city of Frankfurt has indeed displayed a longstanding objection to police shows so the strange aspect of this entire affair has been for the police to use this as an excuse to come out of the closet. They seem to have enjoyed the excuse to show force at last if not begging for protesters to bring it one so they can practice how to deal with their dream training for a state of emergency. The Frankfurt police have indeed come out of the closet. Their scaremongering has led to a military display unseen in Germany with creating an exclusion zone, danger zone, water cannons, airplanes, helicopters and about 8000 troops. All of this to protect bankers. Just amazing. What the hell does this imply? Then, believe it or not, the ECB imposed an exclusion of the press. The ECB has decreed that their opening ceremony news agencies are permitted, but not newspaper journalists. Curious. The newspaper embargo raises the question of exactly what is behind this authoritarian show of force in the heart of Germany? |
Re: One-world reserve currency inevitable and will enslave all nations?
---------------------------- Original Message ----------------------------
Subject: Mar 18: Tor does not provide reliable anonymity!
From: iamback
Date: Wed, March 18, 2015 11:12 am
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Tor is not reliably anonymous! If you are trusting Tor to protect your anonymity, the NSA has probably already de-anonymized you and is saving all the incriminating information for G20 tax hunts coming over the years.
Sadly even Tor's developers admit Tor has egregious problems and they are not sure exactly what happened in every case:
https://blog.torproject.org/blog/hidden-services-need-some-love
https://blog.torproject.org/blog/thoughts-and-concerns-about-operation-onymous
Essentially all anonymous networks suffer three fundamental design problems which make them very easy for the NSA to de-anonymize:
1) Sybil attacks (the Guard Discovery attack is aided by this). All the anonymous networks don't pay the relay nodes, so economically the NSA can be a vast majority of those nodes. In other words, I don't think a free network can be anonymous!
2) Denial of service attacks. Again I think the only robust solution to this is to make sending network packets not free.
3) Low latency relaying. Thus de-anonymization is possible with timing attacks. Thus we must design a high-latency anonymity network.
4) Tor adds exit nodes interfacing to HTTPS which make correlation attacks so much more trivial due to all the side-effects on web sites! (even if you are not using an exit node, this reduces the anonymity set overall)
Subject: Mar 18: Tor does not provide reliable anonymity!
From: iamback
Date: Wed, March 18, 2015 11:12 am
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
As far as I know Tor never got compromised given the guy hosting the hidden service didn't do anything stupid, ... , if u run Tor with no javascript etc in a safe OS and dont reveal private information you are safe imo.
Tor is not reliably anonymous! If you are trusting Tor to protect your anonymity, the NSA has probably already de-anonymized you and is saving all the incriminating information for G20 tax hunts coming over the years.
Sadly even Tor's developers admit Tor has egregious problems and they are not sure exactly what happened in every case:
https://blog.torproject.org/blog/hidden-services-need-some-love
https://blog.torproject.org/blog/thoughts-and-concerns-about-operation-onymous
Quote
How did they locate the hidden services?
So we are left asking "How did they locate the hidden services?". We don't know.
...
Unfortunately, the authorities did not specify how they managed to locate the hidden services. Here are some plausible scenarios:
Bitcoin deanonymization
Ivan Pustogarov et al. have recently been conducting interesting research on Bitcoin anonymity.
Apparently, there are ways to link transactions and deanonymize Bitcoin clients even if they use Tor. Maybe the seized hidden services were running Bitcoin clients themselves and were victims of similar attacks.
Attacks on the Tor network
The number of takedowns and the fact that Tor relays were seized could also mean that the Tor network was attacked to reveal the location of those hidden services. We received some interesting information from an operator of a now-seized hidden service which may indicate this, as well. Over the past few years, researchers have discovered various attacks on the Tor network. We've implemented some defenses against these attacks, but these defenses do not solve all known issues and there may even be attacks unknown to us.
Another possible Tor attack vector could be the Guard Discovery attack. This attack doesn't reveal the identity of the hidden service, but allows an attacker to discover the guard node of a specific hidden service. The guard node is the only node in the whole network that knows the actual IP address of the hidden service. Hence, if the attacker then manages to compromise the guard node or somehow obtain access to it, she can launch a traffic confirmation attack to learn the identity of the hidden service. We've been discussing various solutions to the guard discovery attack for the past many months but it's not an easy problem to fix properly. Help and feedback on the proposed designs is appreciated.
*Similarly, there exists the attack where the hidden service selects the attacker's relay as its guard node. This may happen randomly or this could occur if the hidden service selects another relay as its guard and the attacker renders that node unusable, by a denial of service attack or similar. The hidden service will then be forced to select a new guard. Eventually, the hidden service will select the attacker.
Furthermore, denial of service attacks on relays or clients in the Tor network can often be leveraged into full de-anonymization attacks. These techniques go back many years, in research such as "From a Trickle to a Flood", "Denial of Service or Denial of Security?", "Why I'm not an Entropist", and even the more recent Bitcoin attacks above. In the Hidden Service protocol there are more vectors for DoS attacks, such as the set of HSDirs and the Introduction Points of a Hidden Service.
Advice to concerned hidden service operators
As you can see, we still don't know what happened, and it's hard to give concrete suggestions blindly.
Final words
The task of hiding the location of low-latency web services is a very hard problem and we still don't know how to do it correctly. It seems that there are various issues that none of the current anonymous publishing designs have really solved.
In a way, it's even surprising that hidden services have survived so far.
So we are left asking "How did they locate the hidden services?". We don't know.
...
Unfortunately, the authorities did not specify how they managed to locate the hidden services. Here are some plausible scenarios:
Bitcoin deanonymization
Ivan Pustogarov et al. have recently been conducting interesting research on Bitcoin anonymity.
Apparently, there are ways to link transactions and deanonymize Bitcoin clients even if they use Tor. Maybe the seized hidden services were running Bitcoin clients themselves and were victims of similar attacks.
Attacks on the Tor network
The number of takedowns and the fact that Tor relays were seized could also mean that the Tor network was attacked to reveal the location of those hidden services. We received some interesting information from an operator of a now-seized hidden service which may indicate this, as well. Over the past few years, researchers have discovered various attacks on the Tor network. We've implemented some defenses against these attacks, but these defenses do not solve all known issues and there may even be attacks unknown to us.
Another possible Tor attack vector could be the Guard Discovery attack. This attack doesn't reveal the identity of the hidden service, but allows an attacker to discover the guard node of a specific hidden service. The guard node is the only node in the whole network that knows the actual IP address of the hidden service. Hence, if the attacker then manages to compromise the guard node or somehow obtain access to it, she can launch a traffic confirmation attack to learn the identity of the hidden service. We've been discussing various solutions to the guard discovery attack for the past many months but it's not an easy problem to fix properly. Help and feedback on the proposed designs is appreciated.
*Similarly, there exists the attack where the hidden service selects the attacker's relay as its guard node. This may happen randomly or this could occur if the hidden service selects another relay as its guard and the attacker renders that node unusable, by a denial of service attack or similar. The hidden service will then be forced to select a new guard. Eventually, the hidden service will select the attacker.
Furthermore, denial of service attacks on relays or clients in the Tor network can often be leveraged into full de-anonymization attacks. These techniques go back many years, in research such as "From a Trickle to a Flood", "Denial of Service or Denial of Security?", "Why I'm not an Entropist", and even the more recent Bitcoin attacks above. In the Hidden Service protocol there are more vectors for DoS attacks, such as the set of HSDirs and the Introduction Points of a Hidden Service.
Advice to concerned hidden service operators
As you can see, we still don't know what happened, and it's hard to give concrete suggestions blindly.
Final words
The task of hiding the location of low-latency web services is a very hard problem and we still don't know how to do it correctly. It seems that there are various issues that none of the current anonymous publishing designs have really solved.
In a way, it's even surprising that hidden services have survived so far.
Essentially all anonymous networks suffer three fundamental design problems which make them very easy for the NSA to de-anonymize:
1) Sybil attacks (the Guard Discovery attack is aided by this). All the anonymous networks don't pay the relay nodes, so economically the NSA can be a vast majority of those nodes. In other words, I don't think a free network can be anonymous!
2) Denial of service attacks. Again I think the only robust solution to this is to make sending network packets not free.
3) Low latency relaying. Thus de-anonymization is possible with timing attacks. Thus we must design a high-latency anonymity network.
4) Tor adds exit nodes interfacing to HTTPS which make correlation attacks so much more trivial due to all the side-effects on web sites! (even if you are not using an exit node, this reduces the anonymity set overall)
The intertwined finance dominoes will fall...
http://armstrongeconomics.com/2015/03/18/austria-to-default-of-debt-of-10-2-billion-euros/
http://armstrongeconomics.com/2015/03/18/austria-to-default-of-debt-of-10-2-billion-euros/
Re: One-world reserve currency inevitable and will enslave all nations?
---------------------------- Original Message ----------------------------
Subject: Mar 18: Armstrong admits finance has always required risk-less rents on society
From: iamback
Date: Wed, March 18, 2015 7:48 am
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Armstrong has now documented that the elite banksters have an incentive to take control of finance away from governments and into their own hands, e.g. a one-world reserve central bank.
My seminal essays explained that Finance (usury and debt) are the paradigm of ignorant, passive capital (a.k.a. stored monetary capital) extracting risk-less rents from the productive sector by subjugating the collective to fungible stored monetary wealth (which is always power-law distributed, thus giving rise to socialism). It is not a question of desire, the paradigm demands it be risk-less because debt is only mathematically possible with fractional reserve banking, which is an inherently bankrupt paradigm. This was possible when non-fungible knowledge production was not the dominant component of production; which was the case in the stone, bronze, iron, agricultural, and industrial age epochs. But the Knowledge Age inverts this fundamental economic relationship.
The true solution is not a one-world central bank controlled by the banksters under the ruse of international partnership. Rather it is the grassroots rise of the computer revolution enabling the individual mind as economically dominant! I pray that Armstrong will have an epiphany.
http://armstrongeconomics.com/2015/03/18/austria-to-default-of-debt-of-10-2-billion-euros/
Subject: Mar 18: Armstrong admits finance has always required risk-less rents on society
From: iamback
Date: Wed, March 18, 2015 7:48 am
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Armstrong has now documented that the elite banksters have an incentive to take control of finance away from governments and into their own hands, e.g. a one-world reserve central bank.
My seminal essays explained that Finance (usury and debt) are the paradigm of ignorant, passive capital (a.k.a. stored monetary capital) extracting risk-less rents from the productive sector by subjugating the collective to fungible stored monetary wealth (which is always power-law distributed, thus giving rise to socialism). It is not a question of desire, the paradigm demands it be risk-less because debt is only mathematically possible with fractional reserve banking, which is an inherently bankrupt paradigm. This was possible when non-fungible knowledge production was not the dominant component of production; which was the case in the stone, bronze, iron, agricultural, and industrial age epochs. But the Knowledge Age inverts this fundamental economic relationship.
The true solution is not a one-world central bank controlled by the banksters under the ruse of international partnership. Rather it is the grassroots rise of the computer revolution enabling the individual mind as economically dominant! I pray that Armstrong will have an epiphany.
http://armstrongeconomics.com/2015/03/18/austria-to-default-of-debt-of-10-2-billion-euros/
Quote from: Armstrong
The documents of the Medici family clearly state to deal as little as possible with the court of the Duke of Burgundy and of other princes and lords, especially in granting credit and accommodating them with money, because it involves more risk than profit. Distinctly, it is clear that the text continued showing that the Medici did not wish to lend to the princes of Europe for there was no way to collect a debt from a sovereign. The contract continued warning many merchants in this way fared badly and that our fathers have always been wary of such involvements and stayed aloof, unless it was a matter of a small sum lent to make or to keep friends. The Medici policy was to preserve their wealth and credit rather than enrich themselves by risky ventures.
The Baring Brothers folded. The Rothschilds, despite the conspiracy theories, have been replaced by the modern merchant banking style firm Goldman Sachs. I cover in detail the rise and fall of every banking family with documentary proof not wild rumor and speculation.
This is history unfold once again in Austria. Sorry the Rothschilds are not in the game this time. Not a single firm that has ever gotten involved with government has survived.
The Baring Brothers folded. The Rothschilds, despite the conspiracy theories, have been replaced by the modern merchant banking style firm Goldman Sachs. I cover in detail the rise and fall of every banking family with documentary proof not wild rumor and speculation.
This is history unfold once again in Austria. Sorry the Rothschilds are not in the game this time. Not a single firm that has ever gotten involved with government has survived.
Re: One-world reserve currency inevitable and will enslave all nations?
Monero has a public ledger which attempts to provide anonymity via autonomous mixing with Cryptonote's one-time ring signatures. Monero does not have anonymity of the IP address sending the transaction to the public ledger, thus it doesn't have total anonymity. Fluffypony was proposing to add I2P (a.k.a. Darknet) integration, but I don't think any free onion routing "darknet" network can be resistant to Sybil attacks on anonymity. We've seen the Tor "darknet" fail spectacularly with its hidden services.
Anonymity is difficult with Bitcoin (but not impossible if you are expert). Bitcoin is an important bridge between the legal tender national currencies and the altcoins.
There are many technologies in play here, and there are more coming. Stay tuned.
Re: One-world reserve currency inevitable and will enslave all nations?
---------------------------- Original Message ----------------------------
Subject: Mar 18: FATCA is forcing the world towards unified taxation
From: iamback
Date: Tue, March 17, 2015 3:03 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
http://www.nestmann.com/why-fatca-is-a-train-wreck-waiting-to-happen
http://www.nestmann.com/is-this-the-first-nail-in-the-coffin-of-citizenship-based-taxation
Subject: Mar 18: FATCA is forcing the world towards unified taxation
From: iamback
Date: Tue, March 17, 2015 3:03 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
http://www.nestmann.com/why-fatca-is-a-train-wreck-waiting-to-happen
Quote
But even here something very interesting is happening that I think will eventually derail the FATCA project. You see, the agreements that the US has signed with other countries call for the exchange of tax data to actually be
well
an exchange. But there will be no exchange because theres no procedure in US law for that to happen. In other words, the IRS can demand that other countries send it data, but theres no legal mechanism in place for the IRS to force US financial institutions to send information to foreign tax authorities.
...
Meanwhile, finance ministers in Germany, China, India, and other countries are starting to ask, Wheres the data on our citizens investing in the US? And theres a deafening silence on the US end of that question. The US cant force its banks to provide this information, and barring a sudden change of heart by the Republican majority in both houses of Congress, the earliest this could change is in 2017, after the 2016 elections.
...
Meanwhile, finance ministers in Germany, China, India, and other countries are starting to ask, Wheres the data on our citizens investing in the US? And theres a deafening silence on the US end of that question. The US cant force its banks to provide this information, and barring a sudden change of heart by the Republican majority in both houses of Congress, the earliest this could change is in 2017, after the 2016 elections.
http://www.nestmann.com/is-this-the-first-nail-in-the-coffin-of-citizenship-based-taxation
Quote
Obama Proposes Relief for Some Expatriates
Now the Obama administration has proposed a modest reform of the grossly unfair system of citizenship-based taxation in its 2016 budget presentation. Certain individuals who were dual citizens at birth would be permitted to expatriate under a considerably easier process than currently applies.
...
Does Obama Really Feel US Expatriates Pain?
...
But I dont think Obama gives a rats ass about Americans living abroad. Hes much more concerned about making FATCA a success, so he can fulfill his campaign promise of shutting down what he calls offshore tax havens. And FATCA the centerpiece of this plan faces real threats, as I wrote about in this essay.
Now theres another threat. In Canada, two US-Canadian dual citizens at birth have filed a lawsuit against the Canadian government. The lawsuit demands that the Canadian courts declare it illegal for the Canadian government to discriminate against US-Canadian dual citizens. The FATCA intergovernmental agreement between the US and Canada does discriminate it forces Canadian financial institutions to release more information to the IRS than they are permitted to disclose to the Canadian tax authorities.
If this litigation succeeds, it could prove disastrous for FATCA not just in Canada, but globally. But if Obamas proposal becomes law, it would weaken the plaintiffs arguments perhaps sufficiently to have their claims thrown out of court.
Now the Obama administration has proposed a modest reform of the grossly unfair system of citizenship-based taxation in its 2016 budget presentation. Certain individuals who were dual citizens at birth would be permitted to expatriate under a considerably easier process than currently applies.
...
Does Obama Really Feel US Expatriates Pain?
...
But I dont think Obama gives a rats ass about Americans living abroad. Hes much more concerned about making FATCA a success, so he can fulfill his campaign promise of shutting down what he calls offshore tax havens. And FATCA the centerpiece of this plan faces real threats, as I wrote about in this essay.
Now theres another threat. In Canada, two US-Canadian dual citizens at birth have filed a lawsuit against the Canadian government. The lawsuit demands that the Canadian courts declare it illegal for the Canadian government to discriminate against US-Canadian dual citizens. The FATCA intergovernmental agreement between the US and Canada does discriminate it forces Canadian financial institutions to release more information to the IRS than they are permitted to disclose to the Canadian tax authorities.
If this litigation succeeds, it could prove disastrous for FATCA not just in Canada, but globally. But if Obamas proposal becomes law, it would weaken the plaintiffs arguments perhaps sufficiently to have their claims thrown out of court.
Re: One-world reserve currency inevitable and will enslave all nations?
---------------------------- Original Message ----------------------------
Subject: Mar 18: the USA built communism (FACT!)
From: iamback
Date: Tue, March 17, 2015 2:48 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Antony C Sutton: Wall Street and the rise of Hitler & communism
https://www.youtube.com/watch?v=Sah_Xni-gtg
http://www.antonysutton.com/suttoninterview.html
Subject: Mar 18: the USA built communism (FACT!)
From: iamback
Date: Tue, March 17, 2015 2:48 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Will Armstrong deny the research of Anthony Sutton and now the revelation he posted to his own blog?
Does Armstrong have an open-mind to information that disagrees with his world-view that the elite don't cooperate globally?
Does Armstrong have an open-mind to information that disagrees with his world-view that the elite don't cooperate globally?
Antony C Sutton: Wall Street and the rise of Hitler & communism
https://www.youtube.com/watch?v=Sah_Xni-gtg
http://www.antonysutton.com/suttoninterview.html
Quote from: Anthony Sutton @ 1999
Q: Do you believe that there has been suppression of technology? Has it been major or minor?
AS - Yes there has been suppression but its going to be impossible to suppress the new emerging paradigm.
Q: The Federal Reserve, the House of Morgan, House of Rothschild and Skull and Bones are they related?
AS - Best source for this is a book by me THE FEDERAL RESERVE CONSPIRACY, 1995 CPA, PO Box 596, Boring OR 97007
Q: What do you see for the future?
AS - Chaos, confusion and ultimately a battle between the individual and the State.
The individual is the stronger; and will win. The state is a fiction sanctified by Hegel and his followers to CONTROL the individual.
Q: Can you tell the story of how you learned of Skull & Bones? And how you felt?
AS - I knew nothing of S&B until I received a letter in the early 80's asking if I would like to look at a genuine membership list. For no real reason I said yes. It was agreed to send the package by Federal Express and I could keep it for 24 hours, it had to be returned to the safe. It was a "black bag" job by a family member disgusted with their activities.
For the benefit of any S&B members who may read and doubt the statement; the membership list is in two volumes, black leather bound. Living members and deceased members in separate volumes. Very handsome books.
I spent all night in Kinko's, Santa Cruz , copied the entire volumes and returned within the 24 hour period.
I have never released any copies or identified the source. I figured each copy could be coded and enable S&B to trace the leak.
How did I feel? I felt then (as I do now} that these "prominent" men are really immature juveniles at heart. The horrible reality is that these little boys have been dominant in their influence in world affairs. No wonder we have wars and violence. Skull and Bones is the symbol of terrorist violence, pirates, the SS Deaths Head Division in WW Two, labels on poison bottles and so on.
I kept the stack of xerox sheets for quite a while before I looked at themwhen I did looka picture jumped out, THIS was a significant part of the so called establishment. No wonder the world has problems!
Q: Did any of Hitler's economic policies threaten the interests of the international bankers, and if so did that play a role in his downfall?
AS - Hitler's economic policies were OK'd by the bankers right through the war...ITT, Chase, Texaco and others were operating in Nazi-held France as late as 1945. In fact Chase in Paris was trying to get Nazi accounts as late as 1944. When we got to Germany in May 1945, I remember seeing a (bombed-out) Woolworth store in Hamburg and thinking, "What's Woolworth doing in Nazi Germany?" While we were bombed and shelled it was "business as usual" for Big Business. Try the Alien Custodian Papers.
See my BEST ENEMY MONEY CAN BUY for more.
Union Banking is very important. I made a documentary for Dutch National TV some years ago. It got all the way through the production process to the Dutch TV Guide...at the last minute it was pulled and another film substituted. This documentary has proof of Bush financing Hitlerdocuments.
Maybe my Dutch friends will still get it viewed, but the apparatus reaches into Holland.
AS - Yes there has been suppression but its going to be impossible to suppress the new emerging paradigm.
Q: The Federal Reserve, the House of Morgan, House of Rothschild and Skull and Bones are they related?
AS - Best source for this is a book by me THE FEDERAL RESERVE CONSPIRACY, 1995 CPA, PO Box 596, Boring OR 97007
Q: What do you see for the future?
AS - Chaos, confusion and ultimately a battle between the individual and the State.
The individual is the stronger; and will win. The state is a fiction sanctified by Hegel and his followers to CONTROL the individual.
Q: Can you tell the story of how you learned of Skull & Bones? And how you felt?
AS - I knew nothing of S&B until I received a letter in the early 80's asking if I would like to look at a genuine membership list. For no real reason I said yes. It was agreed to send the package by Federal Express and I could keep it for 24 hours, it had to be returned to the safe. It was a "black bag" job by a family member disgusted with their activities.
For the benefit of any S&B members who may read and doubt the statement; the membership list is in two volumes, black leather bound. Living members and deceased members in separate volumes. Very handsome books.
I spent all night in Kinko's, Santa Cruz , copied the entire volumes and returned within the 24 hour period.
I have never released any copies or identified the source. I figured each copy could be coded and enable S&B to trace the leak.
How did I feel? I felt then (as I do now} that these "prominent" men are really immature juveniles at heart. The horrible reality is that these little boys have been dominant in their influence in world affairs. No wonder we have wars and violence. Skull and Bones is the symbol of terrorist violence, pirates, the SS Deaths Head Division in WW Two, labels on poison bottles and so on.
I kept the stack of xerox sheets for quite a while before I looked at themwhen I did looka picture jumped out, THIS was a significant part of the so called establishment. No wonder the world has problems!
Q: Did any of Hitler's economic policies threaten the interests of the international bankers, and if so did that play a role in his downfall?
AS - Hitler's economic policies were OK'd by the bankers right through the war...ITT, Chase, Texaco and others were operating in Nazi-held France as late as 1945. In fact Chase in Paris was trying to get Nazi accounts as late as 1944. When we got to Germany in May 1945, I remember seeing a (bombed-out) Woolworth store in Hamburg and thinking, "What's Woolworth doing in Nazi Germany?" While we were bombed and shelled it was "business as usual" for Big Business. Try the Alien Custodian Papers.
See my BEST ENEMY MONEY CAN BUY for more.
Union Banking is very important. I made a documentary for Dutch National TV some years ago. It got all the way through the production process to the Dutch TV Guide...at the last minute it was pulled and another film substituted. This documentary has proof of Bush financing Hitlerdocuments.
Maybe my Dutch friends will still get it viewed, but the apparatus reaches into Holland.
Re: One-world reserve currency inevitable and will enslave all nations?
---------------------------- Original Message ----------------------------
Subject: Mar 18: russian and usa elite (DEEP STATE) cooperate (power sharing global hegemony)
From: iamback
Date: Tue, March 17, 2015 1:54 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Will Armstrong deny the research of Anthony Sutton and now the revelation he posted to his own blog?
Does Armstrong have an open-mind to information that disagrees with his world-view that the elite don't cooperate globally?
http://armstrongeconomics.com/2015/03/17/new-evidence-surfacing-us-assassinated-general-patton/
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/3869117/General-George-S.-Patton-was-assassinated-to-silence-his-criticism-of-allied-war-leaders-claims-new-book.html
Subject: Mar 18: russian and usa elite (DEEP STATE) cooperate (power sharing global hegemony)
From: iamback
Date: Tue, March 17, 2015 1:54 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Will Armstrong deny the research of Anthony Sutton and now the revelation he posted to his own blog?
Does Armstrong have an open-mind to information that disagrees with his world-view that the elite don't cooperate globally?
http://armstrongeconomics.com/2015/03/17/new-evidence-surfacing-us-assassinated-general-patton/
Quote from: Armstrong
New evidence is surfacing that General George Patton was assassinated by the US government to shut him up for Pattons position was clairvoyant to say the least that the Germans were not our enemy, it would be Communist Russia.
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/3869117/General-George-S.-Patton-was-assassinated-to-silence-his-criticism-of-allied-war-leaders-claims-new-book.html
Quote
The newly unearthed diaries of a colourful assassin for the wartime Office of Strategic Services (OSS), the forerunner of the CIA, reveal that American spy chiefs wanted Patton dead because he was threatening to expose allied collusion with the Russians that cost American lives.
...
Mr Bazata also suggested that when Patton began to recover from his injuries, US officials turned a blind eye as agents of the NKVD, the forerunner of the KGB, poisoned the general.
...
In order to placate Stalin, the 3rd Army was also ordered to a halt as it reached the German border and was prevented from seizing either Berlin or Prague, moves that could have prevented Soviet domination of Eastern Europe after the war.
...
Mr Bazata also suggested that when Patton began to recover from his injuries, US officials turned a blind eye as agents of the NKVD, the forerunner of the KGB, poisoned the general.
...
In order to placate Stalin, the 3rd Army was also ordered to a halt as it reached the German border and was prevented from seizing either Berlin or Prague, moves that could have prevented Soviet domination of Eastern Europe after the war.
Re: One-world reserve currency inevitable and will enslave all nations?
---------------------------- Original Message ----------------------------
Subject: Mar 17: we LOVE Armstrong more than he realizes
From: iamback
Date: Tue, March 17, 2015 1:08 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Illogical. In order to fund that safety net, it must expropriate from the productive sector, which is why Europe has no productive sector remaining, thus Europe will not be able to produce what it needs internally (will worsen in a negative feedback loop spiral flush into the toilet bowl) and thus it will rely on the Euro FX value to purchase for import its needs, but the Euro is collapsing in value as Euros are printed to bailout the safety net (indirectly via the banks who hold the sovereign bonds).
Correct the USA can expropriate from its productive sector and the productive sectors of the entire world with FATCA, the military, and mostly importantly because the dollar is the reserve currency of the world's financial system.
The USA is the wounded Godzilla that can possibly drag the entire global economy down into a Dark Age, if we don't find solutions.
The solution I advocate is a bottom-up, grassroots technological anonymous crypto-currency and fledgling Knowledge Age. I also concur with Martin Armstrong's vision of a global restructuring (when and if it becomes viable), because this is a way to avoid sinking too far into a Dark Age while waiting for the Knowledge Age to grow and take over with anonymous crypto-currency which the USA can not expropriate.
Armstrong seems to misconstrue my debate with him as one of total disrespect or disagreement. Rather I very much appreciate Armstrong's models, his sharing, his insights. My disagreement with Armstrong only rests on him preaching EXCLUSIVELY on top-down solutions and not also recognizing the potential rise of Creative Destruction. In the past few blog posts, he has alluded to Creative Destruction, but he still denies that anonymous crypto-currency and anonymous internet systems could potentially rise. He paints his world view that only he has the Solutions and doesn't recognize that DECENTRALIZED (not top-down controlled!) hackers are also very important for the world's future. Armstrong should recognize that he is also hacker, as defined correctly by Eric S. Raymond.
http://www.catb.org/jargon/html/H/hacker.html
Eric Raymond explains well why I am annoyed with Armstrong transitioning from his engineers vocation to a fucking political soapbox spouting off about the only Solutions are top-down destruction into a one-world reserve morass.
http://esr.ibiblio.org/?p=3514
Note Armstrong may not realize that one of the reasons his site exploded in popularity since 2013, is because I (who have read him since he started writing from prison) have been quoting him with links to his site from this Bitcointalk.org forum. If he shuts off his sharing, this will only hurt his site's popularity. He can verify that some of my threads on Bitcointalk.org have 60,000+ reads and he can verify via Alexa.com that Bitcointalk.org has 20 times more page views than ArmstrongEconomics.com does. I do agree with him charging for some of the details of his model's predictions, because it makes the information more valuable. But if he thinks crawling into a shell because he feels defensive about debate and discussion, then he has really lost objectivity. Hey Armstrong, grow some skin on your back. Just because you've finally met your intellectual cohort, embrace it, don't wither away into a hole in the ground!
http://armstrongeconomics.com/2015/03/17/what-can-we-do-3/
The irony is Armstrong is describing himself below. He thinks he is describing me, but I am not on the soapbox saying that I have the only Solution and that it requires all of us to bound together in the same agreement. Rather I am saying that we hackers can experiment with many variants decentralized (bottom-up) and if humanity adopts any of our solutions over time, then that is a free market result entirely consistent with thermodynamics, entropy, physics and Armstrong's cyclical models.
Armstrong even admits is he is fighting against thermodynamics, entropy, physics and his own cyclical models:
Armstrong has put himself in a [Hegelian Dialectic] dilemma because he feels he needs to convince society-at-large of the necessity of a top-down restructuring Solution in order to avoid a Dark Age, and he is trying to say that we who want bottom-up Creative Destruction are the reason the majority is always wrong. This egregious discombobulated illogic saddens me, because I otherwise respect Armstrong very much. It is so sad to see he has created these false demons in his mind.
Apparently Armstrong lost some of his sanity when he was tortured in prison. I can understand that. I pray he can come to his senses. I would help him any way I can. I love the man.
He wants so badly to fight those who tortured him that he thinks anyone who is questions his top-down solutions is perpetuating the torture of mankind. This is visceral for Armstrong. He can still feel the torture he went through in prison. This is sort of the dual of the Stockholm Syndrome.
Again I reiterate to Armstrong that the repeating outcomes of the collusion of banksters, central banks, and governance are facts he can't deny (and in fact he has proven with his excruciatingly detailed study of history). Whether it happens only by an invisible hand, by plans with alliances, or some combination of those, doesn't matter. My point remains valid that bottom-up technological solutions that create new frontiers in the Knowledge Age are also desirable.
Not only desirable, but I posit maybe the only solution. Because Armstrong must admit that it is very likely the cancer of our current system doesn't die until it has killed the host, thus the wounded Godzilla is going to be forcing us hackers to develop the anonymous technological solutions.
Touché.
:wink:
---------------------------- Original Message ----------------------------
Subject: Mar 18: Armstrong in denial of his stated world view
From: iamback
Date: Tue, March 17, 2015 1:25 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Armstrong could benefit from adhering to his own advice and stop trying to force his world view of the future as top-down, Hegelian Dialectic dilemma. He ought to admit that just maybe our anonymous crypto-currency Creative Destruction might end up being the solution and not his post-prison-torture Stockholm Syndrome psychosis.
http://armstrongeconomics.com/2015/03/17/how-i-see-the-world/
Subject: Mar 17: we LOVE Armstrong more than he realizes
From: iamback
Date: Tue, March 17, 2015 1:08 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Europe is partially screwed, but has a socialist net that will keep default states afloat because it's in the interest of all intertwined.
Illogical. In order to fund that safety net, it must expropriate from the productive sector, which is why Europe has no productive sector remaining, thus Europe will not be able to produce what it needs internally (will worsen in a negative feedback loop spiral flush into the toilet bowl) and thus it will rely on the Euro FX value to purchase for import its needs, but the Euro is collapsing in value as Euros are printed to bailout the safety net (indirectly via the banks who hold the sovereign bonds).
Nations in heavy debt are screwed (i.e. the US), but the US can self sustain with it's political power and military might in the world.
Correct the USA can expropriate from its productive sector and the productive sectors of the entire world with FATCA, the military, and mostly importantly because the dollar is the reserve currency of the world's financial system.
The USA is the wounded Godzilla that can possibly drag the entire global economy down into a Dark Age, if we don't find solutions.
The solution I advocate is a bottom-up, grassroots technological anonymous crypto-currency and fledgling Knowledge Age. I also concur with Martin Armstrong's vision of a global restructuring (when and if it becomes viable), because this is a way to avoid sinking too far into a Dark Age while waiting for the Knowledge Age to grow and take over with anonymous crypto-currency which the USA can not expropriate.
Armstrong seems to misconstrue my debate with him as one of total disrespect or disagreement. Rather I very much appreciate Armstrong's models, his sharing, his insights. My disagreement with Armstrong only rests on him preaching EXCLUSIVELY on top-down solutions and not also recognizing the potential rise of Creative Destruction. In the past few blog posts, he has alluded to Creative Destruction, but he still denies that anonymous crypto-currency and anonymous internet systems could potentially rise. He paints his world view that only he has the Solutions and doesn't recognize that DECENTRALIZED (not top-down controlled!) hackers are also very important for the world's future. Armstrong should recognize that he is also hacker, as defined correctly by Eric S. Raymond.
http://www.catb.org/jargon/html/H/hacker.html
Quote from: Eric S. Raymond
hacker: n.
1. ...A person who delights in having an intimate understanding of the internal workings of a system, computers and computer networks in particular.
2. One who programs enthusiastically (even obsessively) or who enjoys programming rather than just theorizing about programming.
3. A person capable of appreciating hack value.
6. An expert or enthusiast of any kind. One might be an astronomy hacker, for example.
7. One who enjoys the intellectual challenge of creatively overcoming or circumventing limitations.
hack value: n.
Often adduced as the reason or motivation for expending effort toward a seemingly useless goal, the point being that the accomplished goal is a hack. For example, MacLISP had features for reading and printing Roman numerals, which were installed purely for hack value. See display hack for one method of computing hack value, but this cannot really be explained, only experienced. As Louis Armstrong once said when asked to explain jazz: Man, if you gotta ask you'll never know.
1. ...A person who delights in having an intimate understanding of the internal workings of a system, computers and computer networks in particular.
2. One who programs enthusiastically (even obsessively) or who enjoys programming rather than just theorizing about programming.
3. A person capable of appreciating hack value.
6. An expert or enthusiast of any kind. One might be an astronomy hacker, for example.
7. One who enjoys the intellectual challenge of creatively overcoming or circumventing limitations.
hack value: n.
Often adduced as the reason or motivation for expending effort toward a seemingly useless goal, the point being that the accomplished goal is a hack. For example, MacLISP had features for reading and printing Roman numerals, which were installed purely for hack value. See display hack for one method of computing hack value, but this cannot really be explained, only experienced. As Louis Armstrong once said when asked to explain jazz: Man, if you gotta ask you'll never know.
Eric Raymond explains well why I am annoyed with Armstrong transitioning from his engineers vocation to a fucking political soapbox spouting off about the only Solutions are top-down destruction into a one-world reserve morass.
http://esr.ibiblio.org/?p=3514
Quote from: Eric S. Raymond
Those who cant build, talk
One of the side-effects of using Google+ is that Im getting exposed to a kind of writing I usually avoid ponderous divagations on how the Internet should be and the meaning of it all written by people whove never gotten their hands dirty actually making it work. No, Im not talking about users I dont mind listening to those. Im talking about punditry about the Internet, especially the kind full of grand prescriptive visions. The more I see of this, the more it irritates the crap out of me. But Im not in the habit of writing in public about merely personal complaints; theres a broader cultural problem here that needs to be aired.
The following rant will not name names. But if you are offended by it, you are probably meant to be.
I have been using the Internet since 1976. I got involved in its engineering in 1983. Over the years, Ive influenced the design of the Domain Name System, written a widely-used SMTP transport, helped out with RFCs, and done time on IETF mailing lists. Ive never been a major name in Internet engineering the way I have been post-1997 in the open-source movement, but I was a respectable minor contributor to the former long before I became famous in the latter. I know the people and the culture that gets the work done; theyre my peers and I am theirs. Which is why Im going to switch from them to us and we now, and talk about something that really cranks us off.
Were not thrilled by people who rave endlessly about the wonder of the net. Were not impressed by brow-furrowing think-pieces about how it ought to written by people who arent doing the design and coding to make stuff work. Wed be far happier if pretty much everybody who has ever been described as digerati were dropped in a deep hole where they can blabber at each other without inflicting their pompous vacuities on us or the rest of the world.
In our experience, generally the only non-engineers whose net-related speculations are worth listening to are science-fiction writers, and by no means all of those; anybody to whom the label cyberpunk has been attached usually deserves to be dropped in that deep hole along with the so-called digerati.
There are specific recurring kinds of errors in speculative writing about the Internet that we get exceedingly tired of seeing over and over again. One is blindness to problems of scale; another is handwaving about deployment costs; and a third is inability to notice when a proposed cooperative solution is ruined by misalignment of incentives. There are others, but these will stand as representative for why we very seldom find any value in the writings of people who talk but dont build.
We seldom complain about this in public because, really, how would it help?
One of the side-effects of using Google+ is that Im getting exposed to a kind of writing I usually avoid ponderous divagations on how the Internet should be and the meaning of it all written by people whove never gotten their hands dirty actually making it work. No, Im not talking about users I dont mind listening to those. Im talking about punditry about the Internet, especially the kind full of grand prescriptive visions. The more I see of this, the more it irritates the crap out of me. But Im not in the habit of writing in public about merely personal complaints; theres a broader cultural problem here that needs to be aired.
The following rant will not name names. But if you are offended by it, you are probably meant to be.
I have been using the Internet since 1976. I got involved in its engineering in 1983. Over the years, Ive influenced the design of the Domain Name System, written a widely-used SMTP transport, helped out with RFCs, and done time on IETF mailing lists. Ive never been a major name in Internet engineering the way I have been post-1997 in the open-source movement, but I was a respectable minor contributor to the former long before I became famous in the latter. I know the people and the culture that gets the work done; theyre my peers and I am theirs. Which is why Im going to switch from them to us and we now, and talk about something that really cranks us off.
Were not thrilled by people who rave endlessly about the wonder of the net. Were not impressed by brow-furrowing think-pieces about how it ought to written by people who arent doing the design and coding to make stuff work. Wed be far happier if pretty much everybody who has ever been described as digerati were dropped in a deep hole where they can blabber at each other without inflicting their pompous vacuities on us or the rest of the world.
In our experience, generally the only non-engineers whose net-related speculations are worth listening to are science-fiction writers, and by no means all of those; anybody to whom the label cyberpunk has been attached usually deserves to be dropped in that deep hole along with the so-called digerati.
There are specific recurring kinds of errors in speculative writing about the Internet that we get exceedingly tired of seeing over and over again. One is blindness to problems of scale; another is handwaving about deployment costs; and a third is inability to notice when a proposed cooperative solution is ruined by misalignment of incentives. There are others, but these will stand as representative for why we very seldom find any value in the writings of people who talk but dont build.
We seldom complain about this in public because, really, how would it help?
Note Armstrong may not realize that one of the reasons his site exploded in popularity since 2013, is because I (who have read him since he started writing from prison) have been quoting him with links to his site from this Bitcointalk.org forum. If he shuts off his sharing, this will only hurt his site's popularity. He can verify that some of my threads on Bitcointalk.org have 60,000+ reads and he can verify via Alexa.com that Bitcointalk.org has 20 times more page views than ArmstrongEconomics.com does. I do agree with him charging for some of the details of his model's predictions, because it makes the information more valuable. But if he thinks crawling into a shell because he feels defensive about debate and discussion, then he has really lost objectivity. Hey Armstrong, grow some skin on your back. Just because you've finally met your intellectual cohort, embrace it, don't wither away into a hole in the ground!
http://armstrongeconomics.com/2015/03/17/what-can-we-do-3/
Quote from: Armstrong
We will even shift some info away from the blog for those who are clients in order to preserve the integrity of some of the analysis making it more exclusive for it is widely plagiarized and distorted by others desperate to stand on their soap-boxes with nothing to offer society misrepresenting the facts and what we even say.
The irony is Armstrong is describing himself below. He thinks he is describing me, but I am not on the soapbox saying that I have the only Solution and that it requires all of us to bound together in the same agreement. Rather I am saying that we hackers can experiment with many variants decentralized (bottom-up) and if humanity adopts any of our solutions over time, then that is a free market result entirely consistent with thermodynamics, entropy, physics and Armstrong's cyclical models.
Quote from: Armstrong
The conspiracy nuts cannot accept that the world functions in a fascinating way according to physics as does everything else. No, they must attribute all powerful knowledge and evil plots to explain why they cannot escape the mob to see the reality of the world as it exists. They pretend to be all knowledgeable, yet close their mind to knowledge that does not satisfy their conclusionary expectations. They cannot rise above and observe their own actions and participation with unbiased eyes. To them, the world plots against them.
Armstrong even admits is he is fighting against thermodynamics, entropy, physics and his own cyclical models:
Quote from: Armstrong
I tried before to prevent trends and had to discover that they are set in motion and must run their course. I gave up and saw firsthand there was just no way to do anything for that would require altering humanity and changing the laws of physics that govern the markets which must swing between maximum and minimum entropy.
Yes, I could have saved Social Security transforming it into a wealth fund. But self-interests of politicians is always too overwhelming. True, I could revise the world monetary system in 30 days or less and correct the mistakes to prevent the crash and burn. But this is delusional for that would require people to see the problem and then say fix it. Their own self-interest is always in maintaining the status-quo.
Yes, I could have saved Social Security transforming it into a wealth fund. But self-interests of politicians is always too overwhelming. True, I could revise the world monetary system in 30 days or less and correct the mistakes to prevent the crash and burn. But this is delusional for that would require people to see the problem and then say fix it. Their own self-interest is always in maintaining the status-quo.
Armstrong has put himself in a [Hegelian Dialectic] dilemma because he feels he needs to convince society-at-large of the necessity of a top-down restructuring Solution in order to avoid a Dark Age, and he is trying to say that we who want bottom-up Creative Destruction are the reason the majority is always wrong. This egregious discombobulated illogic saddens me, because I otherwise respect Armstrong very much. It is so sad to see he has created these false demons in his mind.
Apparently Armstrong lost some of his sanity when he was tortured in prison. I can understand that. I pray he can come to his senses. I would help him any way I can. I love the man.
He wants so badly to fight those who tortured him that he thinks anyone who is questions his top-down solutions is perpetuating the torture of mankind. This is visceral for Armstrong. He can still feel the torture he went through in prison. This is sort of the dual of the Stockholm Syndrome.
Quote from: Armstrong
It would be like a man with a gun comes to rob you and you then try to argue that guns are illegal and he should not do this. He will laugh if not shoot you.
Between the media not reporting because they are controlled by corporate entities whose self-interest is at stake and the hopeless conspiracy theory advocates who seek to blame grand schemes without proof to explain their own helplessness, the majority will be misdirected and left hopelessly lost in the folds of their own mind knee deep in delusional bullshit. So it may appear hopeless, yet this is required for the majority must always be wrong and that is the energy that passes through the mob to create the boom and bust cycle. The majority will become convince at the top of a market that it will never end, Then, the slightest whiff of error creates the flash crash. They will blame some short-player to explain their greed and mistake, but in truth, they are the culprit. When you are at the extreme on both sides, they because the fuel to propel the market in the opposite direction. They will even outlaw shorts assuming they have manipulated the market. But that always makes it worse for only the short has the courage to buy in the middle of a panic.
Between the media not reporting because they are controlled by corporate entities whose self-interest is at stake and the hopeless conspiracy theory advocates who seek to blame grand schemes without proof to explain their own helplessness, the majority will be misdirected and left hopelessly lost in the folds of their own mind knee deep in delusional bullshit. So it may appear hopeless, yet this is required for the majority must always be wrong and that is the energy that passes through the mob to create the boom and bust cycle. The majority will become convince at the top of a market that it will never end, Then, the slightest whiff of error creates the flash crash. They will blame some short-player to explain their greed and mistake, but in truth, they are the culprit. When you are at the extreme on both sides, they because the fuel to propel the market in the opposite direction. They will even outlaw shorts assuming they have manipulated the market. But that always makes it worse for only the short has the courage to buy in the middle of a panic.
Again I reiterate to Armstrong that the repeating outcomes of the collusion of banksters, central banks, and governance are facts he can't deny (and in fact he has proven with his excruciatingly detailed study of history). Whether it happens only by an invisible hand, by plans with alliances, or some combination of those, doesn't matter. My point remains valid that bottom-up technological solutions that create new frontiers in the Knowledge Age are also desirable.
Not only desirable, but I posit maybe the only solution. Because Armstrong must admit that it is very likely the cancer of our current system doesn't die until it has killed the host, thus the wounded Godzilla is going to be forcing us hackers to develop the anonymous technological solutions.
Touché.
:wink:
---------------------------- Original Message ----------------------------
Subject: Mar 18: Armstrong in denial of his stated world view
From: iamback
Date: Tue, March 17, 2015 1:25 pm
To: "Armstrong Economics" <armstrongeconomics@gmail.com>
--------------------------------------------------------------------------
Armstrong could benefit from adhering to his own advice and stop trying to force his world view of the future as top-down, Hegelian Dialectic dilemma. He ought to admit that just maybe our anonymous crypto-currency Creative Destruction might end up being the solution and not his post-prison-torture Stockholm Syndrome psychosis.
http://armstrongeconomics.com/2015/03/17/how-i-see-the-world/
Quote from: Armstrong
Einstein was aware of his celebrity, but he never surrendered his own humble humanity. To live is to think, to conform is to surrender your thoughts. It is a willingness to expand the mind and simultaneously to never assume you are right. With each new day comes something new to learn and with that knowledge comes wisdom.
To see the future, we must comprehend the past. Opinion has little value for soap-boxes do not truly make a person taller. This is not a contest of who is right or wrong, for those who confine themselves to such a black and white world will never see the color that brightens the world. Wisdom comes from knowledge, which comes from trial and exploration. To assume you are right and reject any challenge is the mark of a fool, not of wisdom.
Einsteins approach to the world was precisely that. Never surrender your imagination for within that spirit lies the truth and all wisdom.
To see the future, we must comprehend the past. Opinion has little value for soap-boxes do not truly make a person taller. This is not a contest of who is right or wrong, for those who confine themselves to such a black and white world will never see the color that brightens the world. Wisdom comes from knowledge, which comes from trial and exploration. To assume you are right and reject any challenge is the mark of a fool, not of wisdom.
Einsteins approach to the world was precisely that. Never surrender your imagination for within that spirit lies the truth and all wisdom.