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Topic: Distribution of bitcoin wealth by owner - page 23. (Read 153446 times)

legendary
Activity: 1400
Merit: 1013
December 05, 2013, 12:04:38 AM
Schooling is a program designed to inhibit education.

Source: John Taylor Gatto
hero member
Activity: 518
Merit: 521
December 05, 2013, 12:01:22 AM
rpietila, we can't give away knowledge. I have tried to give away my knowledge and I can't even force it down the readers' throats. Knowledge is impossible to bottle up and distribute. Knowledge is dynamic, diverse, spawns from fitness as motivated by the diverse situations that humans encounter.

Did you just claim that all schools, universities, and technical books have zero effect on teaching people?

If you can't teach someone something you are supposed to know, it's not usually his fault, it's yours; for lacking the ability to actually KNOW the subject good enough.

I hope you realize how incredibly socialist and anti-capitalism and eugenics directed your illogical position is. You wish to make others responsible for the initiative and effort of others. Hey I grew up in all black schools in the slums of Baton Rouge and New Orleans, but that did not stop me from learning, because I was eager to learn. I would learn more at home in my room with all my books and gadgets or in the back yard digging up bugs and studying behavior than I did in school sometimes. I regret the internet was not available when I was 5 years old. I can only imagine, as I can see my (and I am sure your) ability to generate knowledge accelerated upon the network effects of the internet.

Education and rote learning is not knowledge because it is in the past. Knowledge is created by the ability to think and react to new scenarios. Autodidactism is the future because it is both more efficient and it generates the initiative to create knowledge.

Edumaction

Quote
Thinking like this can be dangerous, I warn you in advance.  As long as you don't remain in denial, the trouble with right thinking is that once it gets into your brain, you can't erase it.  And it will swim around in your brain until eventually, you might start to accept it, until it will come out of your mouth and that's when it might get you into trouble.

How so?  In many cases, people are not allowed to think for themselves like I do, but rather, they must do as their bosses tell them to do, or what the "culture" says is "politically correct".  It's like this for teachers, for journalists, and for brokers.  They are all employed to push an agenda.  Teachers push liberalism in social studies, journalists push what their global media masters demand, and brokers push the stocks on the books of their investment houses.  I suppose many other professions are like this, from the police, to lawyers, and perhaps most union jobs, politicians, and I'm sure I'm missing other good examples.

Hey, it's even dangerous for me, because I may alienate my customers, so even I have to be careful.

I want to limit my discussion to government education in today's letter, otherwise there is just too much to cover.

I have two examples from school I'd like to share.  In my High School Junior English class back in 1987, I was getting discouraged.  I kept getting B's on my essays, despite my best efforts at analyzing the literature up for discussion.  I didn't know what else to do, and one day I just gave up.  Instead of analysis, I simply said how great the literature was, and I parroted back the same exact analysis that was discussed in class with absolutely zero new insights.  To hide the lack of real discussion and analysis in my essay, I enlarged my handwriting to fill the page.  I was expecting a D minus, or even an F.  I was almost ashamed of myself.

Some of you might guess what happened next.  I got an A.  My first A.  I was simply astounded.  Flabbergasted.  Surprised beyond belief.  I could not believe it.  I seriously wondered why.  I went to the teacher.  I explained myself.  I admitted there was no analysis.  She rebuked me.  Of course there was analysis; the same one we discussed in class, she said.  Exactly, I said.  Exactly, she said.  What?  I don't get it, don't you want us to analyse it?  But you did, she said.  And you kept it short, simple, to the point, and you were exactly on point, and understood the class discussion exactly, she said.  But I felt I didn't analyse anything; I felt like a tape recorder with zero brain activity or real analysis.  I brought no new insights to the table, nothing original, no indication that I was thinking about what we read.  But I showed I was paying attention in class, she said.  That's thinking about it.  Wow.  I don't know if the goal of my teacher was an intent to crush my spirit, but wow.

Young People Should Work for Free

Student Loans, The Next Bubble?

Student Loans, the Next Debt Bubble

P.S. A high school track & field sports friend of mine [name redacted as it violates privacy], who ended up as an adjunct professor at Georgetown and a head of an R&D department at SAIC (unfortunately that means filing patents), said I was the one who caused him to grasp university Physics (we ended up at the same university). I remember studying with him for roughly 1 hour one day. That is effective! Because I cut directly the generative essence of the matter and provided the insight for how to think for oneself on the subject matter.
sr. member
Activity: 364
Merit: 250
I am Citizenfive.
December 04, 2013, 06:58:26 PM
If that ever came to be, that's just proof Bitcoin was foretold anyway. There'll be a free currency and the mark of the beast will be a QR code containing your ID and your socialist gov-backed alt-coin, which you'll be required to wear.

Back in the realm of things I actually believe -- I can't take anymore of that 666 crap -- and in the spirit of actual wealth distribution / redistribution (and also as partial evidence backing my statements earlier):

Police chief of a small town in Kentucky successfully got them to agree to deposit his net pay as Bitcoin. Interview on Colbert Report and now their town is accepting BTC at their website etc.

This is how it begins, and as it continues to rise overall, the current wealthy elite will continue to mock while more and more wealth is redistributed to many folks like these. They don't have much to lose, have nothing to gain by mockery, and are a community.

Thoughts, rpietila/all?
legendary
Activity: 2338
Merit: 2106
December 04, 2013, 04:55:28 PM
Tinfoil alternate theory I now posit (which should hold at least as much credibility as the above-referenced study): The Winklevii are Satoshi Nakamoto, but their over-trust in Zuckerberg taught them their lesson on how not to create and release virally-adopted technologies

From one NWO viral strategy to the next. Facebook has a very clear purpose towards the 666. Mandatory face recognition. Soon mandatory facebook accounts. Mandatory tracking of every movement with your mobile geolocation tied into facebook, google, etc.

http://www.activistpost.com/2013/11/social-logins-for-government-services.html

http://www.nestmann.com/the-nsa-has-nothing-on-these-guys

http://www.nestmann.com/the-war-on-privacy-is-coming-to-a-license-plate-near-you

As for Bitcoin's badness and role. Read the archive of my posts.

The number 666 is already on all of the bar codes used in the world.  (there are two lines at the beginning, middle and end without any number written under them but they are the same as a 6 on the second half of codes with the number 6 in them.)

I think Bitcoin is not the problem.  It will be the AntiChrist that takes power and then mandates everyone to get a barcode on their hand or forehead to buy or sell at places so that their purchases can be tracked and then taxed.  Bitcoin could contribute to the reason why a leader decides to do that though.

I have been thinking lately that the "Beast" described in Revelation could be the Internet and that the 7 heads are the 7 continents and that the one head that suffers a blow could be the US.  This, of course, could just be my imagination run wild.  But it is a thought.

barcodes are soooooo 80ies....

the beast will surely use QR... Grin
legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
December 04, 2013, 04:13:03 PM
rpietila, we can't give away knowledge. I have tried to give away my knowledge and I can't even force it down the readers' throats. Knowledge is impossible to bottle up and distribute. Knowledge is dynamic, diverse, spawns from fitness as motivated by the diverse situations that humans encounter.

Did you just claim that all schools, universities, and technical books have zero effect on teaching people?

If you can't teach someone something you are supposed to know, it's not usually his fault, it's yours; for lacking the ability to actually KNOW the subject good enough. I've been into education for long enough to know exactly what having a good teacher is.

I once met a great physicist; he was teaching classic physics on the 2nd year of the university. When he entered the amphitheater and started talking, it was like pure water running down the fall. I wanted to ask something somewhere in the middle; he pointed at me and (without stopping his speech) he signed me to wait... after 3-4 mins he answered to my question (WITHOUT listening to it!)

Pity we don't have those kind of teachers around all the time... The world would be smarter (and more people would have been into Bitcoin)!!!
legendary
Activity: 1680
Merit: 1035
December 04, 2013, 02:54:46 PM
rpietila, we can't give away knowledge. I have tried to give away my knowledge and I can't even force it down the readers' throats. Knowledge is impossible to bottle up and distribute. Knowledge is dynamic, diverse, spawns from fitness as motivated by the diverse situations that humans encounter.

Did you just claim that all schools, universities, and technical books have zero effect on teaching people?
legendary
Activity: 1680
Merit: 1035
December 04, 2013, 02:48:08 PM
Quote
Presumably if you are that rich of an insider, you already own the exchange too. You created an exchange because it was insane not to.

What would prevent a competitor from buying coins from you on your own exchange.

Exchange-owned Sybil identities to hit the government imposed limits in favor of the owner of the exchange.

When the access is very limited as it currently is with exchanges, this tells you that Bitcoin is a fraud.

I know the solution to this, it is a CPU-only coin and anonymity, so we don't need exchanges so much.

So the attacker sells a lot to make the price crash, then runs up the limit, making it impossible for anyone else to buy or sell for a while? I'm missing something.

Regarding your solution, how would people convert into that currency without an exchange?
legendary
Activity: 1680
Merit: 1035
December 04, 2013, 02:45:13 PM
An interesting metric would be: what percentage of coins are in the hands of people, for whom the holding represents X% of portfolio.

Probable answer:

Gonzalo Lira explains why anonymity is so important but Bitcoin doesn't have it.

Quote
Also, actually acquiring bitcoins is remarkably complex—and completely negates the supposed anonymity of bitcoin. Here’s a Reddit editor discussing how tough it was for him to get bitcoins, which is fairly typical of retail customers: A whole lot of hassles, and he still couldn’t buy any. And for all the talk of “bitcoin’s anonymity”, you need a whole truckload of verifiable documents making clear who you are in order to buy your first bitcoin. So the bitcoin-anonymity argument is a chimera.

The failure to meet that condition—“buy or sell exclusively and necessarily with bitcoin”—is what makes bitcoin essentially useless.

That bitcoin is not anonymous as the edges where it interacts with fiat is not a secret, nor a problem. As soon as you get your money into bitcoin, you can make it completely anonymous rather easily.
hero member
Activity: 518
Merit: 521
December 04, 2013, 12:57:53 PM
I am not into the 666 biblical thing. I just want to stop the bastards such as the Bush clan, Hillary Clinton, Dianne Feinstein, NSA, etc from taking away my freedom.

farfiman, I've read that in the 1920s the Americans thought they'd entered a nirvana as they had been transformed in a matter of decades from an agrarian life with horses, lanterns, stage coaches communication to an industrial one with cars, radio, electricity, radio, etc..

The Second Industrial Revolution (which came as a result of the network effects of the First Industrial Revolution) caused massive technological unemployment, yet of course it also raised the standard-of-living and eventually created many more higher-skilled jobs. If we trace history, we can see this pattern repeating every 78 years = 3.1459 x 26 year maturity generations. Before the First Industrial Revolution were two soil technology revolutions which transformed agrarian productivity and caused massive unemployment.

8fold, there seems to always be a major war during each of the depressions caused by these periods of massive technological unemployment. 78 years before War World 2, was the US Civil War.

Any way, 1929 + 78 = 2007 (the year the real-estate bubble burst in USA and PIIGS and the depression started, the depression which is currently dead-cat bouncing and many are mistaking this for a recovery). The downturns typically have a duration ranging between 26 to 31.459 years. I was amazed when a recent Oxford study predicted a loss of 45% of existing jobs to automation within 20 years, i.e. by 2033.

Rival and rpietila, indeed the rich (in stored claims on manual, fungible labor) man can't generate knowledge. The poor (in useless stored claims on manual, fungible labor) can generate knowledge. The rich fool is just a usury (loans, bonds, dividends, hard-on money, and ponzi pump & dump) parasite, and I believe the knowledge revolution will destroy his ability to parasite on society and boast about it. I intend to be part of that, hopefully coming to a Bitcoin theater near you this holiday season.

Note this process isn't likely to be 100% complete ever, and certainly not even 50% complete any time soon. So stored capital remains useful for the meantime and will diminish but not entirely disappear in my lifetime. For example, the bastards still have their cartel on the energy we need to produce knowledge with (although we continue improve the efficiency of our gadgets, cars, etc).

rpietila, we can't give away knowledge. I have tried to give away my knowledge and I can't even force it down the readers' throats. Knowledge is impossible to bottle up and distribute. Knowledge is dynamic, diverse, spawns from fitness as motivated by the diverse situations that humans encounter.

Revenues will scale down with less required capital stock, due to lower costs of producing knowledge (only need a computer and home office). Thus more massive deflation ahead.

Large capital is going to running around trying to find a home, but it will be difficult to find economies-of-scale. The best investments will be very tiny.
legendary
Activity: 1148
Merit: 1001
December 04, 2013, 12:57:08 PM
Tinfoil alternate theory I now posit (which should hold at least as much credibility as the above-referenced study): The Winklevii are Satoshi Nakamoto, but their over-trust in Zuckerberg taught them their lesson on how not to create and release virally-adopted technologies

From one NWO viral strategy to the next. Facebook has a very clear purpose towards the 666. Mandatory face recognition. Soon mandatory facebook accounts. Mandatory tracking of every movement with your mobile geolocation tied into facebook, google, etc.

http://www.activistpost.com/2013/11/social-logins-for-government-services.html

http://www.nestmann.com/the-nsa-has-nothing-on-these-guys

http://www.nestmann.com/the-war-on-privacy-is-coming-to-a-license-plate-near-you

As for Bitcoin's badness and role. Read the archive of my posts.

The number 666 is already on all of the bar codes used in the world.  (there are two lines at the beginning, middle and end without any number written under them but they are the same as a 6 on the second half of codes with the number 6 in them.)

I think Bitcoin is not the problem.  It will be the AntiChrist that takes power and then mandates everyone to get a barcode on their hand or forehead to buy or sell at places so that their purchases can be tracked and then taxed.  Bitcoin could contribute to the reason why a leader decides to do that though.

I have been thinking lately that the "Beast" described in Revelation could be the Internet and that the 7 heads are the 7 continents and that the one head that suffers a blow could be the US.  This, of course, could just be my imagination run wild.  But it is a thought.

oh God, I'm reading Behold a Pale Horse right now and this is all connecting before my eyes. See you on the other side, my friend, for better or for worse...

Better or for worse?  I guess it will just depend what side we are on.  Wink  I get a lot of persecution for my faith but I sleep well at night knowing that regardless of what happens in this world or what kind of difficult things are coming in the future, God is in control and it will all work out in the end.  That said, I will NOT be accepting any barcode on my hand or forehead.  

Edit:  I looked up the book, "Behold a Pale Horse" on Amazon.  Looks interesting.  I will have to read it!  Thanks. Smiley
legendary
Activity: 1834
Merit: 1019
December 04, 2013, 12:50:06 PM
Tinfoil alternate theory I now posit (which should hold at least as much credibility as the above-referenced study): The Winklevii are Satoshi Nakamoto, but their over-trust in Zuckerberg taught them their lesson on how not to create and release virally-adopted technologies

From one NWO viral strategy to the next. Facebook has a very clear purpose towards the 666. Mandatory face recognition. Soon mandatory facebook accounts. Mandatory tracking of every movement with your mobile geolocation tied into facebook, google, etc.

http://www.activistpost.com/2013/11/social-logins-for-government-services.html

http://www.nestmann.com/the-nsa-has-nothing-on-these-guys

http://www.nestmann.com/the-war-on-privacy-is-coming-to-a-license-plate-near-you

As for Bitcoin's badness and role. Read the archive of my posts.

The number 666 is already on all of the bar codes used in the world.  (there are two lines at the beginning, middle and end without any number written under them but they are the same as a 6 on the second half of codes with the number 6 in them.)

I think Bitcoin is not the problem.  It will be the AntiChrist that takes power and then mandates everyone to get a barcode on their hand or forehead to buy or sell at places so that their purchases can be tracked and then taxed.  Bitcoin could contribute to the reason why a leader decides to do that though.

I have been thinking lately that the "Beast" described in Revelation could be the Internet and that the 7 heads are the 7 continents and that the one head that suffers a blow could be the US.  This, of course, could just be my imagination run wild.  But it is a thought.

oh God, I'm reading Behold a Pale Horse right now and this is all connecting before my eyes. See you on the other side, my friend, for better or for worse...
legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
December 04, 2013, 12:16:59 PM
I just saw this post and (even if I'm a regular here) I came through a google search. I have to congratulate you rpietila for the great thread and devotion to this thing. Even if you're on the North and I'm on the South of EU, I feel I want to offer a beer when we meet. Cheers. Smiley
legendary
Activity: 1148
Merit: 1001
December 04, 2013, 09:18:37 AM
Tinfoil alternate theory I now posit (which should hold at least as much credibility as the above-referenced study): The Winklevii are Satoshi Nakamoto, but their over-trust in Zuckerberg taught them their lesson on how not to create and release virally-adopted technologies

From one NWO viral strategy to the next. Facebook has a very clear purpose towards the 666. Mandatory face recognition. Soon mandatory facebook accounts. Mandatory tracking of every movement with your mobile geolocation tied into facebook, google, etc.

http://www.activistpost.com/2013/11/social-logins-for-government-services.html

http://www.nestmann.com/the-nsa-has-nothing-on-these-guys

http://www.nestmann.com/the-war-on-privacy-is-coming-to-a-license-plate-near-you

As for Bitcoin's badness and role. Read the archive of my posts.

The number 666 is already on all of the bar codes used in the world.  (there are two lines at the beginning, middle and end without any number written under them but they are the same as a 6 on the second half of codes with the number 6 in them.)

I think Bitcoin is not the problem.  It will be the AntiChrist that takes power and then mandates everyone to get a barcode on their hand or forehead to buy or sell at places so that their purchases can be tracked and then taxed.  Bitcoin could contribute to the reason why a leader decides to do that though.

I have been thinking lately that the "Beast" described in Revelation could be the Internet and that the 7 heads are the 7 continents and that the one head that suffers a blow could be the US.  This, of course, could just be my imagination run wild.  But it is a thought.
legendary
Activity: 1148
Merit: 1001
December 04, 2013, 09:12:39 AM
"Wealth that is earned, increases happiness of the earner. Wealth that is received, does not."

Wealth from Bitcoin feels like I am just "receiving" instead of "earning" it though at this point.
donator
Activity: 1722
Merit: 1036
December 04, 2013, 08:21:35 AM
"Wealth that is earned, increases happiness of the earner. Wealth that is received, does not."
hero member
Activity: 504
Merit: 502
December 04, 2013, 08:13:11 AM
"The dreams of a poor man are not the dreams of a rich man. It is because of this intrinsic truth that providing wealth to a poor man can potentially be considered an attempt to murder him."
legendary
Activity: 1449
Merit: 1001
December 04, 2013, 06:35:20 AM

The next 20 years will be so radical of change, you will think you live in Jetson's world by 2033. Flying cars, etc.. all manufactured by a guy on a computer.



http://www.youtube.com/watch?v=GJjUVIIYptE

sr. member
Activity: 391
Merit: 250
December 04, 2013, 05:16:44 AM
@AnonyMint I've noticed you mentioned the year of 2033 several times. Why 2033?
hero member
Activity: 518
Merit: 521
December 04, 2013, 05:08:39 AM
So we will see money moving more towards its primary function as a medium-of-exchange with short-term store-of-value and less of as a long-term, hard-on store-of-value. Why? Because knowledge workers crave knowledge more than money, because they can't buy the NEW knowledge they want with money, even if they tried. I explained why new knowledge can't be created out-of-thin air at ANY PRICE in the following linked section.

You're making a lot of assumptions here.  First you seem to be saying that "we will see X", meaning (I assume since your prose is not precise) that generally we will see X, where X is investors seeking anything but long term investments.  Your justification for this statement is related to "knowledge workers".  Thus, you seem to assume that generally, knowledge workers determine what is generally sought after.  I'd like to see supporting evidence for this.

I documented in the thread from which those quotes originate. You can click the link on a quote to go to thread (and post) where it comes from.

Specifically a recent Oxford study predicts 45% of all existing jobs will be lost to automation by 2033. This confirms we are in a period of radical technological unemployment. This appears to happen every 78 years. The difference is this time we are all tied together in socialism by central banks. You can re-read my quotes from the prior post to weigh the gravity of this thud of a realization.

It assumes that knowledge workers dominate the economic spectrum

Agreed. And they already do. Look what Satoshi did. Watch what I do to Bitcoin as one man.

and that those workers prefer knowledge gains rather than long-term economic gains.

You seem to miss the point that they have no choice. Do you not realize why?

Let me give you an example. Right now I challenge any one to go buy a CPU-only coin design before I release mine.

You can't. Only I know how to make one.

Knowledge that we need doesn't generate from capital. It generates from serendipity and fitness of diverse humans matched up to diverse needs.

We only needed capital when our needs were primarily fixed investment, e.g. factory buildings, factory machines, etc.

The 3D printer and the computer ends that.

The next 20 years will be so radical of change, you will think you live in Jetson's world by 2033. Flying cars, etc.. all manufactured by a guy on a computer.

This is pure speculation.  I don't relate to this sentiment.

It will be a difficult adjustment for most people. They will futilely resist. As was the case for the Luddites in the Industrial Revolution. We are in the First Computer Revolution. Second will be quantum computing.
hero member
Activity: 518
Merit: 521
December 04, 2013, 04:57:53 AM
Quote
Presumably if you are that rich of an insider, you already own the exchange too. You created an exchange because it was insane not to.

What would prevent a competitor from buying coins from you on your own exchange.

Exchange-owned Sybil identities to hit the government imposed limits in favor of the owner of the exchange.

When the access is very limited as it currently is with exchanges, this tells you that Bitcoin is a fraud.

I know the solution to this, it is a CPU-only coin and anonymity, so we don't need exchanges so much.
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