quoting this before you edit it, you racist

Interesting . . . if BTC were to double in value tomorrow, would you rebalance? What if BTC increased 10-fold, it would represent about 90% of your portfolio then.

[Edit] Why would anyone trust you with their mining rigs if you think it is ok to scam innocent businesses out of electricity? Or are there various degrees of honesty these days? What, you'll only steal 1% of the rigs you receive?

MtGox is not your local high street bank. They've got some complex issues to navigate and I think you should make some allowances for that.

That said - you're right, they should have a privacy policy, tos etc published on their site.

Assuming you're asking why we're not at the Wall St. protests... why would we protest the government intervention/bailout on Wall St. with a bunch of yahoos who want more government intervention in the rest of the economy/our lives.

People who want to protest the bailouts should do it in Washington, not New York.  Of course bankers are going to take free money if you give it to them (or force it on them).  The problem is politicians who think they can 'fix' problems that they themselves created.

I agree with everything you said but this:


Speculators aren't the problem.  Speculation is - or more to the point, the root problem is that BitCoin is deflationary, which creates massive speculation.

I think the falling value is great for BC since it will wash out many speculators, but I'm afraid we'll just run into another bubble once we bounce off the fundamental utility value.  It too will pop and we'll run all the way down again to the fundamental value.  More adoption will make the floor higher and the bubbles bigger (which is what speculators are betting on), but bubbles will drastically inhibit adoption.

Anyway, the fix isn't to blame speculators.  They're a natural consequence of having a market.  The fault is BitCoin's design.  The fix is to make BitCoin no longer (potentially) wildly deflationary.  I currently favor demurrage and dynamic inflation.  I don't think it'll ever happen in BitCoin, but another cryptocurrency will come along to replace it.  Then the speculators will go home on their own.

How will you end collusion when the banksters are entrenched not only in the regulatory bodies but Congress itself. Have you considered that the more centralized power there is the higher the incentive for these groups to try to hijack it?

Assuming this analysis is correct, it only shows that government can't work. The electorate and politicians are fickle and what you've described will always happen. If program X requires that much consistency to succeed then it won't work in a democracy, maybe it might in a monarchy or dictatorship.

Does not compute.

So, government is provably incompetent at setting and enforcing regulations and your answer is, more regulations? Brilliant!

Kenedy did not tried to end the Fed (yes I know about his silver dollars).

But you are rigth that if elected Ron Paul has a lot of chances of being assessinated. I think he knows.

How in hell is that a Market Failure when you have Central Planning in Monetary Policy, innumerable banking and finance regulations and an army of bureaucrats to go with it??!! This is a clear failure in govt policy, and govt supporters are failing to take responsibility! 

I actually think libertarians should be opposed at every front where we find them.

Personally I see right wing economic libertarianism as fascism rebranded - sure they get rid of stupid racist ideas, but still maintain positive views about social darwinism and often, suspicion of democracy.

Some of the more extreme libertarian-conservatives such as James Delingpole are beyond the pale. To these sorts of libertarians, the scientists, in particular, those connected to advancing understanding of global warming are the new jews to be demonised.

I blogged about him. http://a-new-red-dawn.blogspot.com/2011/07/political-extremist-james-dellingpole.html