Basically you are asking: can't a good king be a good system of government? The answer of course, is yes.. it could. Yes, it could be wise to give some really smart and totally selfless good people total control of the money system. Yes, it could be good. However in practice there are some security considerations we must consider due to known factors in human psychology. A benevolent monarchy may be the best system of government for a variety of reasons (efficiency, quickness of action, printing money at the right moment) but it exists as an unstable equilibrium and all it takes is a couple sociopathic small-minded people to really fuck things up.
Oh, and the money supply for bitcoins is increasing now which makes it today an inflationary currency, though according to plan this will change in 20 years or so.
It is very unlikely a single entity can control the whole system. The people around the wise king is the root of corruption. FED is not the problem, but those banks are But anyway, in a society of high productivity, efficiency is not a concern |
|
|
|
|
I've been to Greece last year, and most of their hotels are equipped with windows XP. Nowadays only IT experts are still using XP due to its stability and performance, so they should have no problem using BTC at all
|
|
|
|
I live a simple life below the tax threshold. Sure, I've got property taxes of almost $20 a year, but beyond that no government is forcing fiat upon me. For me it's not worth supporting the American Cult in order to be able to buy more shit I don't need. Grow food, love people, live free.
+1000 Me too. Best decision I ever made was to make less money so I could be more wealthy and freer. It's just this kind of thought created financial crisis --- After banks have loaned out billions of dollar and built so many homes and sold so many CDSs, and they suddenly found out that people do not want those homes...  |
|
|
|
|
I think the term "stimulus" used in economy is very wrong
The money FED printed in no way acts like medicine to cure the disease, they are more like the blood put into the body to keep it from dieing, and the real problem is caused by feeding too much blood into the body (loosening) and taking out too much blood from the body at a later time (tightening)
|
|
|
|
This one is really cheap, less than 25$. Put in a mining rig, it even works as a warm house for flowers during winter, but how to modify it   |
|
|
|
My open frame rig is always running on the balcony, so there is some rain/snow protection, but when it is windy occasionally the snow flakes/ rain drops will still make their way into the motherboard and hard hang the machine. Another possible good place is an open type of garage or shelter I'm planning a tower shaped case, about 1.5 meter high, and to test if it can provide better cooling than total open design, it will be fun |
|
|
|
Oh, quite impressive, a very good noise canceler, how do you keep a good ventilation? |
|
|
|
|
Some one create a super useful product/service and can only be purchased using BTC, maybe a popular game?
|
|
|
|
Sadly several of my recent shorts are stopped out breakeven, seems gold still have some momentum, waiting for China's mass production come in second half year
There might be a problem. Just like BTC, what if chinese just mine the gold and keep them? With each price raise, they mine more gold and store them in the reserve, and their spending is by loan backed by these gold/silver reserve, so the actual availability of gold/silver is not getting higher, the price will go further up. Then, after FED begin to tighten, they can not get loan and try to sell gold/silver, then there will be a huge crash due to less liquidity
From this view, I tend to change towards long side in the coming years, at least until FED tightens
it won't take that long. True, although FED promised an extremely lose policy until 2014, it will face inflation pressure very soon |
|
|
|
|
Is there anyone have experience in setting up outdoor housing?
1. rain/snow resistant
2. dust resistant
3. good ventilation
I found it extremely difficult to fulfill all the requirement at the same time, if I cover the open frame shelf with transparent foil, then the ventilation will be so bad that the card get much warmer
I even thought about a stove like design to push the warm air out through a chimney, but then I need to vertically place the cards so that the exhaust point upwards...
|
|
|
|
|
Linuxcoin always worked better for me than BAMT
Now my 5970 stay at 770/150/1.0 stable with 42% fan and 60C at outdoor temp 10C
|
|
|
|
|
If something is mass produced, then it is not luxury goods any more, but in that phase will fulfill lot's of demand, typically those mass produced BMW and Volvo cars in china today
If people can continuously find luxury goods and turn them into mass production, the economy will be strong, but something considered luxury goods might not have so many people interested in it, private plane for example
Reducing the working hours will be important for people to have more time to explore new demands
|
|
|
|
What is your conclusion then? If you think that we need to balance it out, what it will lead to is a lot of weak people with lots of desires.
Current system of top-down nannying works because they also program you to desire the things they need you to desire, aside with how you need to act, so even if you become weak in many ways, you project your efforts towards a common goal, which makes the whole structure stronger.
No conclusion, maybe the imbalance is part of the human nature itself, there is no way to get definite fair, but anyway human is very adaptable, as long as the life is not threatened I remember that welfare economics usually use happiness index to measure the effect of a certain political choice, maybe that is the best we can do currently |
|
|
|
|
Sadly several of my recent shorts are stopped out breakeven, seems gold still have some momentum, waiting for China's mass production come in second half year
There might be a problem. Just like BTC, what if chinese just mine the gold and keep them? With each price raise, they mine more gold and store them in the reserve, and their spending is by loan backed by these gold/silver reserve, so the actual availability of gold/silver is not getting higher, the price will go further up. Then, after FED begin to tighten, they can not get loan and try to sell gold/silver, then there will be a huge crash due to less liquidity
From this view, I tend to change towards long side in the coming years, at least until FED tightens
|
|
|
|
|
That's exactly I anticipated, if lot's of people have the ability to work but kicked out of the current system due to less access to loan and technology, they will get their own economy running by using another currency
Good chance for BTC, but how to advertise BTC in Greece? Do they have a forum in their native language?
|
|
|
|
|
1. Central Bank loan out 1 million to Government
2. Central Bank loan out 1 million to Enterprises (through commercial banks)
Now government spend 1 million to buy something from Enterprises, and Enterprises spend 1 million to buy something from Government, or pay tax
If one of them could not get the loan, the loop will break
Since one can not loan out something that is not belong to him, Central Bank must have the ownership of all those created money at the first place
|
|
|
|
Money is not debt, it is some kind of religion  Although it does not hold any value, but when everyone believe in the value behind it, it gets everyone's trust, and to keep this trust, there are central bankers control the money supply, acting as gods in this religion |
|
|
|
Each person's desire is different (Brain structure decided), and each person's ability is also different. Some people with little desire but strong ability might be happy with a little resource due to their extremely efficient spending, while some people with lot's of desire and little ability might suffer a lot with same amount of resource. This is a big difficulty in valuating the "fairness" part of a resource allocation mechanism
What you are saying is that it is "fair" for a strong person to work harder to get the same thing others get, not because he wants to, but because his "need" isn't as big as the other's? A strong person need to work less harder to get the same thing done than a weak person While this storng person typically get exessive amount of products to consume, a weak person might not get enough products to consume On the other hand, their desire has nothing to do with their ability (decided by brain), a strong person's desire can be weaker than a weak person. Those people with less desire typically can think calm and make wise decision and make more money, while those with stronger desire and emotional spend money faster than they earn. And it is typically the later think it is unfair When it comes to valuate each person's labor, the only judgement is market price, but that really do not show each person's effort, just force everyone to be measured under same standard, so that the weaker ones get kicked out of the game |
|
|
|
|
In a world of scarcity, people are easy to group together and work towards the same goal. But in a world of abundant, it's about how to allocate the resource correctly (not evenly)
Each person's desire is different (Brain structure decided), and each person's ability is also different. Some people with little desire but strong ability might be happy with a little resource due to their extremely efficient spending, while some people with lot's of desire and little ability might suffer a lot with same amount of resource. This is a big difficulty in valuating the "fairness" part of a resource allocation mechanism
Because of this, the current method will always end up in a political debate, goes for the majority of the voters, so that most of the people are satisfied
|
|
|
|
|
Little bit off topic, but increase the efficiency IMO is a dead end, it will make those who have the most resource and intelligence (it is now super multinational enterprise) control all the productions on the earth, and drive those less rich and intelligent people into poverty
Deflation is a very clear sign of over-production, and it will be further amplified by efficiency driven activities
|
|
|
|
|
Show Posts
