Distribution of bitcoin wealth by owner

[Rassah]

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?

[macsga]

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)!!!

[600watt]

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...

[FenixRD]

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?

[AnonyMint]

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

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.

[justusranvier]

Schooling is a program designed to inhibit education.

Source: John Taylor Gatto

[macsga]

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

I very much agree with your opinion. But you must understand too, that for every coin there are two sides. I was talking from the side of the professor; not the student. In modern classes we have about 4-10% (depends of the country, system and other factors) of students that actually comply with the current educational system; they excel, and prosper. That leaves us with about 90-96% of the rest who (socialistically) may graduate from high school but remain "Phenomenal illiterate".

Let me make this clear:
By "phenomenal illiterate" we mean that a person who reads a simple pharmaceutical prescription is UNABLE to follow properly its order! In some countries around the (educated) world this percentage is ENORMOUS and (IMHO) unacceptable! People like you (and me) may as well graduate and go further to higher levels of education - even become educators themselves; but that's because YOU (and I) WANTED to. The system has boldly failed to incorporate with the many; people like you (and me) are (sadly) scarce minorities.

Yes; the internet fulfills a great addition and it's a great accelerator. The thing is that even though universities have uploaded their classes online, the main question is FOR WHOM? One must be WILLING to get in the process. Most people only read the headlines out of a newspaper or a website and this is because the current educational system has forced them to hate reading (or if you prefer; didn't do the proper things so they like it).

Bottom line: College & University education. We produce fools with degrees. Michio Kaku has once said it in a TEDx speech and I couldn't agree more. I want to change this while I'm at it. I want to be the crazy one (hint: signature on the left), among the other "logical" partners and colleagues that think "IT CANNOT BE DONE" - Well... "I CAN CHANGE IT". To do so I must comply with the one and only truth; and this is it:

The educational system is a bust; this is MY fault. Student's have nothing (or next to nothing) to do with it.

[AnonyMint]

Happy we are in partial agreement. I think you may be viewing this from the perspective of a teacher (a person dedicated to success of his/her students) wanting something that is generally impossible to achieve. Let me explain.

I have observed that in Asia and Latin America, education is the #1 priority. Whereas, in the west it only is if someone can get a huge student loan and live off it.

So I think the cause of what you lament is socialism and the debt bubble. Westerners aren't motivated. Why should they be. They are fattened up well by debt.

Just wait. It will implode then they will need to compete again.

As a professor, you are fighting against the lure of cookies (debt).

P.S. I also love great teachers such as the one you described. Yet now I've found I want it even faster than that. I don't often want to slow down for a video even.

[Rampion]

I have observed that in Asia and Latin America, education is the #1 priority. Whereas, in the west it only is if someone can get a huge student loan and live off it.

So I think the cause of what you lament is socialism and the debt bubble. Westerners aren't motivated. Why should they be. They are fattened up well by debt.

Just wait. It will implode then they will need to compete again.

As a professor, you are fighting against the lure of cookies (debt).

P.S. I also love great teachers such as the one you described. Yet now I've found I want it even faster than that. I don't often want to slow down for a video even.

LOL, what a staggering amount of ignorance.

So: for you "the west" = THE USA, and only the USA? France, UK, Germany, Italy, Scandinavia, are not the West in your book?

You do know that the only country in the world where people is deeply in debt even *before* having their first job (because of absurd student loans) is the US - right???

Europeans don't go in debt to go to College - most universities are state-sponsored/owned, and thus education is free or almost free. And we use to consider western and central Europe "the west" too.

[AnonyMint]

I have observed that in Asia and Latin America, education is the #1 priority. Whereas, in the west it only is if someone can get a huge student loan and live off it.

So I think the cause of what you lament is socialism and the debt bubble. Westerners aren't motivated. Why should they be. They are fattened up well by debt.

Just wait. It will implode then they will need to compete again.

As a professor, you are fighting against the lure of cookies (debt).

P.S. I also love great teachers such as the one you described. Yet now I've found I want it even faster than that. I don't often want to slow down for a video even.

LOL, what a staggering amount of ignorance.

Ya think so eh? Look in the mirror buddy.

So: for you "the west" = THE USA, and only the USA? France, UK, Germany, Italy, Scandinavia, are not the West in your book?

You do know that the only country in the world where people is deeply in debt even *before* having their first job (because of absurd student loans) is the US - right???

Europeans don't go in debt to go to College - most universities are state-sponsored/owned, and thus education is free or almost free. And we use to consider western and central Europe "the west" too.

Why I am not surprised that many Europeans don't realize that "state-sponsored" is why your countries have 300+% total debt-to-GDP ratios. This is hidden in cash and off-balance sheet  accounting. Even Germany when viewed with correct accrual, accepted standards, and actuarial accounting (taking into account their banks' exposure and the contagion effects thereof) is at that grotesque level of debt.

Granted some of the problem in the USA is cultural (6 hours of TV and video games per day is one) and multicultural.

P.S. One thing I heard which I like about the system in Belgium at least, is one can choose a trade school instead of high school. That is very wise as it allows students to not waste their time if they aren't interested in a college-prep trajectory.

[Rampion]

I have observed that in Asia and Latin America, education is the #1 priority. Whereas, in the west it only is if someone can get a huge student loan and live off it.

So I think the cause of what you lament is socialism and the debt bubble. Westerners aren't motivated. Why should they be. They are fattened up well by debt.

Just wait. It will implode then they will need to compete again.

As a professor, you are fighting against the lure of cookies (debt).

P.S. I also love great teachers such as the one you described. Yet now I've found I want it even faster than that. I don't often want to slow down for a video even.

LOL, what a staggering amount of ignorance.

Ya think so eh? Look in the mirror buddy.

So: for you "the west" = THE USA, and only the USA? France, UK, Germany, Italy, Scandinavia, are not the West in your book?

You do know that the only country in the world where people is deeply in debt even *before* having their first job (because of absurd student loans) is the US - right???

Europeans don't go in debt to go to College - most universities are state-sponsored/owned, and thus education is free or almost free. And we use to consider western and central Europe "the west" too.

Why I am not surprised that many Europeans don't realize that "state-sponsored" is why your countries have 300+% total debt-to-GDP ratios. This is hidden in cash and off-balance sheet  accounting. Even Germany when viewed with correct accrual, accepted standards, and actuarial accounting (taking into account their banks' exposure and the contagion effects thereof) is at that grotesque level of debt.

Granted some of the problem in the USA is cultural (6 hours of TV and video games per day is one) and multicultural.

P.S. One thing I heard which I like about the system in Belgium at least, is one can choose a trade school instead of high school. That is very wise as it allows students to not waste their time if they aren't interested in a college-prep trajectory.

Sorry but NO - most of "our" countries debt is PRIVATE debt, this is the main problem, and it's completely unrelated to "state sponsored education" - the public debt of Germany or even Spain or Portugal is roughly the same as in the US, the problem are the fucking banks who go in debt to finance mortgages that fuel the housing bubbles and the households that go in debt for the most stupid and innecessary things (a new car, a new TV, new furniture, etc.).

The big difference between Europe's governments debt and US government debt is that Government money in Europe is mostly spent in public services and not in criminal wars.

[AnonyMint]

Sorry but NO - most of "our" countries debt is PRIVATE debt, this is the main problem, and it's completely unrelated to "state sponsored education" - the public debt of Germany or even Spain or Portugal is roughly the same as in the US, the problem are the fucking banks who go in debt to finance mortgages that fuel the housing bubbles and the households that go in debt for the most stupid and innecessary things (a new car, a new TV, new furniture, etc.).

The big difference between Europe's governments debt and US government debt is that Government money in Europe is mostly spent in public services and not in criminal wars.

You don't understand economics.

Private debt means an elevated level of commerce and thus tax payments pumped up by debt. When the debt write-down comes (which hasn't been allowed yet), then the government debts will skyrocket.

Also the interest rates have been held artificially low (see a devastating chart) by the central banks. This is just allowing the aggregate debts and misallocation of capital and human lives to increase. When the interest rates go back up to normal levels, the debts of the governments are going to skyrocket in a runaway spiral to apocalypse.

Everyone in power knows this. They are planning to confiscate all private wealth to pay for the write-down. Merkel lied to get elect, then immediately after federalized the German banks to the EU. It is going to be an all-for-one-and-one-for-all collapse. Everyone will pay their "fair share", hahaha. Stupid socialists deserve it.

You have no where to hide. Certainly not Bitcoin.

You will pay dearly for having lived in that debt-based, state-sponsored socialism.

P.S. it ironic how Europeans comfort themselves with notions of how their governments are less rapacious. Hilter's government was also so caring in the beginning while it was printing money for universal health care. You all never learn your lesson about collectivism and always come back for sloppy seconds, thirds, fourths, ...

[rpietila]

What are the implications of these, to the distribution of bitcoin wealth to holders of different sizes of holdings?

[AnonyMint]

What are the implications of these, to the distribution of bitcoin wealth to holders of different sizes of holdings?

It started here:

So a few hundred people could crash bitcoin price?

If they all stupid, yes. Just like a few hundred people can crash USD price.

That sounds like you are referring to the higher probability of collusion and working together given a smaller number of insiders.

Collectively crashing it to get the weak hands to sell and buying more wouldn't be stupid if one had an exit price where they think they can cash out for good or they think there is a never ending stream of buyers because they believe it will become a widespread currency.

It cascaded to my thought experiment about corrupted exchanges, collusion with government (the socialism), and the enslavement of humanity outcome.

I think I interjected a chart showing how transactions are not increasing as fast as price and market cap, thus pointing towards concentration.

Concentration of ownership implies the necessity to collude with the government, because Bitcoin can't succeed on its own without deconcentration of ownership.

Any way, I have no problem if you delete posts. I can copy mine to other threads if you do. I don't think it is intelligible if you delete some rebuttals and not the posts being rebutted.

[KFR]

...
P.S. it ironic how Europeans comfort themselves with notions of how their governments are less rapacious. Hilter's government was also so caring in the beginning while it was printing money for universal health care. You all never learn your lesson about collectivism and always come back for sloppy seconds, thirds, fourths, ...

http://en.wikipedia.org/wiki/Godwin's_law

[Rampion]

What are the implications of these, to the distribution of bitcoin wealth to holders of different sizes of holdings?

Just off-topic ramblings. Thankfully this is an auto-moderated thread, so please proceed

[AnonyMint]

...
P.S. it ironic how Europeans comfort themselves with notions of how their governments are less rapacious. Hilter's government was also so caring in the beginning while it was printing money for universal health care. You all never learn your lesson about collectivism and always come back for sloppy seconds, thirds, fourths, ...

http://en.wikipedia.org/wiki/Godwin's_law

Putting nonsense in a law doesn't make it (a meaningful) one. Noise. The point is about the outcome of collectivism. Hitler is one of many fine examples in Europe. Would you prefer Rome?

P.S. I wasn't defending the USA. I said all westerners.

[Rassah]

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.)

6 is two lines followed by 4 spaces, not just 2 lines. Google is your friend www.youtube.com/watch?v=gUvdknVO73Y

This whole thing is getting really off topic. Feel free to clean up older posts.

[macsga]

...
P.S. it ironic how Europeans comfort themselves with notions of how their governments are less rapacious. Hilter's government was also so caring in the beginning while it was printing money for universal health care. You all never learn your lesson about collectivism and always come back for sloppy seconds, thirds, fourths, ...

http://en.wikipedia.org/wiki/Godwin's_law

Even not clearly stated; you fulfill this law by well... just mention it?   I didn't know it existed though. Such a black hole this internet thing

[Siegfried]

I think I interjected a chart showing how transactions are not increasing as fast as price and market cap, thus pointing towards concentration.

Please explain. I do not see why that is necessarily so.