Astrohacker

9 ms·

31.
by Astrohacker 15y ago
It is truly bizarre that this purchase appears to be entirely about protecting themselves against patents. How can anyone not see that the system is broken?
32.
by Astrohacker 15y ago
Since grades are so subjective, I've always thought of them as being basically meaningless. So I'm happy seeing grade inflation because it's gradually making grades obsolete.
33.
by Astrohacker 15y ago
Every industry in the US is highly regulated. The worsening economy has correlated with more regulations and bigger government. I don't think this is a coincidence. It is the decrease in capitalism due to an expansion of government that is
34.
by Astrohacker 15y ago
Deregulation is not the problem. The financial industry is highly, highly regulated. The Federal Reserve, a corrupt union of government and big banks, controls the money supply, which is always used to bail out big banks. To suggest that "d
35.
by Astrohacker 15y ago
Good insight. I would just add that the concentration of wealth has a lot to do with fractional reserve banking and the Federal Reserve. Since these are highly regulated institutions, it's not as simple as saying the concentration of wealth
36.
by Astrohacker 15y ago
I'd hate to accept $10,000 via paypal and only get $5,000 out of it. At least with bitcoin there is a chance it will go up in value rather than down.
37.
by Astrohacker 15y ago
What? Just sell the bitcoins and pay for things in dollars.
38.
by Astrohacker 15y ago
If you accept bitcoin, then there is no third party that can freeze your account.
39.
by Astrohacker 15y ago
I read most of the article, and I think it is as flawed as his title. Of course, we aren't broken. If anything is broken, it is the system. If there is a problem between us and the system that we have created, then it is the system that we
40.
by Astrohacker 15y ago
Interesting. Thanks for the info. We obviously need better information about this though - anecdotes only go so far.
41.
by Astrohacker 15y ago
Software patents are a problem. But perhaps software engineers are biased about this particular regulation because this is the field they work in. Seems to me similar arguments can be made about all other patents, and all other IP laws, and
42.
by Astrohacker 15y ago
Exactly. Don't give someone 24/7 access to your bitcoins unless you are gaining enough from the situation to offset the enormous risk that your trust will be violated.
43.
by Astrohacker 15y ago
Stealing doesn't create capital. It moves it. Your points 3 and 4 also indicate you don't seem to understand the difference between creating capital and moving it. As for buying and selling stuff for a profit, you may not be producing stuff
44.
by Astrohacker 15y ago
It's odd to me that he thinks Wall Street was ever in the business of "creating capital for business". The only thing that can create capital is producing more than you consume and saving the difference. Now I have nothing against trading,
45.
by Astrohacker 15y ago
Agreed. It is basically all government regulations that are the problem. Very few regulations exist for ethical reasons; most are there to entrench powers or are just mistakes. The way forward may be to create anonymous or pseudonymous comp
46.
by Astrohacker 15y ago
I agree with your "incompetent bureaucracy" analysis, except I would point out that the government is the biggest and most burdensome of all. It would be interesting to chart the number of regulations companies have to follow or risk being
47.
by Astrohacker 15y ago
FWIW, I totally disagree. There is still low-hanging fruit, and there always will be, because the new technology brings fruit that was high down so it's low. The problem is actually the law, because it is so difficult to start a company wit
48.
by Astrohacker 15y ago
A lot of people wouldn't like Coca-cola scammers. They'd want the real Coca-cola. And these people would be willing to pay a small premium for it. So stores would have an incentive to sell the real thing. A lot of stores would probably refu
49.
by Astrohacker 15y ago
B) Remove all intellectual property laws period. Not just patents for software, but all patents, and copyrights, and trademarks. You might think at first this would lead to chaos. I don't think it would. I think it would make the world radi
50.
by Astrohacker 15y ago
I would like to do the same. Do you have any suggestions about which TLD to use and which registrar to use?
51.
by Astrohacker 15y ago
Government will not solve this problem. Companies should operate anonymously on the internet, and just ignore patents and copyrights. Then they can't be stopped and IP laws will become obsolete.
52.
by Astrohacker 15y ago
No. Suppose the $80 are immediately paid back. The bank just moves the $80 from the loanee's checking account into the bank's own checking account. Total amount of money is now $180. $80 have been created, and is now owned by the bank.
53.
by Astrohacker 15y ago
It may not be news to you, but younger people may only be learning this now. We need to keep talking about it if they are going to learn about it.
54.
by Astrohacker 15y ago
I'm not a troll. Read my blog, my past posts here, posts on reddit, posts on the Bitcoin Forum, and my Tweets. I mean what I say. > Are you a techie? Do you understand the web? Who would you want writing legislation to govern the web? L
55.
by Astrohacker 15y ago
> However, that being said, you make it sound as if those banks are lending/giving that money to rich Saudi princes who squander it. They are not. They are lending it to entrepreneurs that have built a business to X point that want to e
56.
by Astrohacker 15y ago
There's no reason to create new money[1]. As I argued in my post, all inflation can do is change the distribution of the purchasing power of the money... not create new wealth. But the market already handles the distribution or purchasing p
57.
by Astrohacker 15y ago
Here's how banks counterfeit money. You deposit $100. The bank loans out $80 of your money to someone else. They put that money back in the bank. The bank now has $100 - all your money. But your checking account says $100, and the loanee's
58.
by Astrohacker 15y ago
You also need to end the Federal Reserve and make fractional reserve banking illegal so no one can create new money and give it to themselves. Allow the market to handle the distribution of purchasing power. Not the government banking carte
59.
by Astrohacker 15y ago
It makes perfect sense that most people in the top 0.1% are associated with the financial and banking industries if you know how banks work. Banks, and the Federal Reserve, create new money. They give this money to themselves, and then loa
60.
by Astrohacker 15y ago
There are some threads on the Bitcoin Forum about it: https://bitcointalk.org/index.php?topic=32900.0 https://bitcointalk.org/index.php?topic=32984.0 On the same weekend, the third largest bitcoin exchange site, Bitomat, lost their wall

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