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Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805847 times)
solex
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100 satoshis -> ISO code


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April 20, 2015, 09:28:28 PM
 #22941

If the US calculated unemployment the same way as Spain does, the US would be well above 25% unemployment today.

The US unemployment calculation has been modified and manipulated to show good numbers over the past 50 years. The headline number today is the U3 rate, but we used to show the U6 number which included underemployed as well. On top of this none of these numbers include people who dropped out of the workforce and are now on entitlements (which is unemployed). You add this all up and we are well past 25%. If the government ever runs out of entitlement money people are going to see just how bad the employment situation really is.

But we live in the era of twitter politics that generate headlines such as "Unemployment dropped to 5.6% under Obama", never mind the fact that Obama changed the calculation a bit to hit that number, and the number is complete bullshit.

Yes, the numbers are so distorted they have lost historical significance. 100 years ago government workers were counted as unemployed as they were funded from taxation, not the productive economy. Not only does the debt-based financial system need a reset button, so do economic statistics.
I know we are in liberterian territory on this forum, but that's a bit much.  Whether a service is provided by a private firm or the government doesn't really matter as long as the service is being provided (and at the same or a similar cost).  Obviously, it can be argued that the private sector allocates capital more efficiently, and that government structure leads to squandering, but considering every job that is paid by the government as non-existent is a clear error (inb4 every government job does harm).

Absolutely. I certainly don't think that government jobs "don't matter", and agree that some/many are essential to a stable society. It is a matter of how the employment statistics are increasingly tortured to make the case that unemployment is under control, and part of this is the millions of extra non-jobs created in the government sector in recent decades. Which then has the twin downsides of being unaffordable (perpetual deficits) and interventionist (cradle-to-grave nanny-state).


Really? That's awesome, I didn't know that. Any references? Not that it mattered to the calculation anyway since government workers only comprised an insignificant fraction of the working population.

No direct references to hand, I just recall reading it a few times. Probably more of an interpretation from data, such as the census below, when GW was indeed a smaller percentage of the total.

Example: the US 1940 census
Quote
The instructions to enumerators for column 30 give five codes for "Class of Worker":
PW—a person who worked for a wage under the direction of an employer
E—an employer, who employed one or more helpers
GW—government worker
OA—own account, such as a lawyer with no hired help
NP—unpaid family member whose work contributed to the family income, such as in a family store

The census clearly separates GW from other types of employment, then it is up to the user of the stats to interpret what is full or productive employment.

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hdbuck
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April 20, 2015, 09:58:36 PM
 #22942

If the US calculated unemployment the same way as Spain does, the US would be well above 25% unemployment today.

The US unemployment calculation has been modified and manipulated to show good numbers over the past 50 years. The headline number today is the U3 rate, but we used to show the U6 number which included underemployed as well. On top of this none of these numbers include people who dropped out of the workforce and are now on entitlements (which is unemployed). You add this all up and we are well past 25%. If the government ever runs out of entitlement money people are going to see just how bad the employment situation really is.

But we live in the era of twitter politics that generate headlines such as "Unemployment dropped to 5.6% under Obama", never mind the fact that Obama changed the calculation a bit to hit that number, and the number is complete bullshit.

Yes, the numbers are so distorted they have lost historical significance. 100 years ago government workers were counted as unemployed as they were funded from taxation, not the productive economy. Not only does the debt-based financial system need a reset button, so do economic statistics.
I know we are in liberterian territory on this forum, but that's a bit much.  Whether a service is provided by a private firm or the government doesn't really matter as long as the service is being provided (and at the same or a similar cost).  Obviously, it can be argued that the private sector allocates capital more efficiently, and that government structure leads to squandering, but considering every job that is paid by the government as non-existent is a clear error (inb4 every government job does harm).

Government jobs are not representative of production, they are representative of consumption.

That is not a statement that there should be no government jobs, there are of course a whole set of services that are required for a functioning society (courts, education, etc). But again, there are services for the well-being of a society, not production.

In viewing these services as production, we have allowed them to grow and grow and grow, to the point that the US consumes many more services than it produces. This works great as long as the US has a printing press combined with being the global reserve asset. But this over consumption of services is a misallocation of resources, services that are no longer supported by production.

Case in point, the decline of manufacturing and other blue collar jobs in the US, and the hollowing out of all opportunities for advancement for anyone not in the professional class. (with the exception of government jobs)

Those are just "services", not like if the governments are doing a helluva job "teaching" the poor kids anyway.. Still, taxes are increasing, one way or another.

Governments will ultimately go too far on the cash cow.. Corporacy lurking good. Google is more influent than USG already. ^^
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April 20, 2015, 11:02:33 PM
 #22943

Agreed 1000%, fuck gov't!
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April 21, 2015, 11:39:05 AM
 #22944

There's never just one cockroach:

www.theopenledger.com/nj-cop-caught-selling-stolen-bitcoin-mining-equipment/
cypherdoc
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April 21, 2015, 12:27:21 PM
 #22945


They seem to be everywhere these days.
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April 21, 2015, 01:08:31 PM
 #22946

New poll
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April 21, 2015, 03:04:37 PM
 #22947


Quote
According to New Jersey public records he earns an annual salary of $85,924.

Jesus, I have to say US government workers seem to earn quite a salary.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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April 21, 2015, 04:52:46 PM
 #22948


Quote
According to New Jersey public records he earns an annual salary of $85,924.

Jesus, I have to say US government workers seem to earn quite a salary.

That is nothing especially for the NYC/NJ area.

1) He looks fairly youngish which means he is at the bottom of the union pay scale. You can be sure that by the time he is 50 his salary will be well above $150K
2) That is the base only. For overtime he gets time and a half (or sometimes double). This can easily double a cop's pay. Have you ever seen them watching road construction at night or at a sporting event, they're getting bonus time for that.
3) The benefits are amazing.
4) They can retire at age 50 and receive not just their salary, but the average of their last 3 years salary+bonus, FOR LIFE. This often translates to $+200K/yr for life.
5) After "retiring" at 50 they can go back and work as "consultants" for the police and earn another 2nd salary, taking their total pay well above $250K

If you look at the pool of people ages 50-65 pulling in well over $250K, a very good chunk of them are not doctors or lawyers, but cops and other senior civil "servants".

What is even worse, is even though it is this bad, no politician will go after the cop's unions, because to do so would bring the full might of the police down on you.

The perfect example of this is Scott Walker who went after every single public sector union in WI, but didn't go anywhere near the cops. No one, not even the president, can go after these criminals.

Edit: For the first 100 years of US history, there were no standing police forces and the country seemed to do just fine. It was only in the late 1800s and early 1900s that the large east coast cities started to create standing police forces. It was a large debate at the time with many on the side of liberty arguing that standing police forces with the law behind them will inevitably become corrupt to the bone. They were proven right.
cypherdoc
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April 21, 2015, 05:06:22 PM
 #22949


Quote
According to New Jersey public records he earns an annual salary of $85,924.

Jesus, I have to say US government workers seem to earn quite a salary.

That is nothing especially for the NYC/NJ area.

1) He looks fairly youngish which means he is at the bottom of the union pay scale. You can be sure that by the time he is 50 his salary will be well above $150K
2) That is the base only. For overtime he gets time and a half (or sometimes double). This can easily double a cop's pay. Have you ever seen them watching road construction at night or at a sporting event, they're getting bonus time for that.
3) The benefits are amazing.
4) They can retire at age 50 and receive not just their salary, but the average of their last 3 years salary+bonus, FOR LIFE. This often translates to $+200K/yr for life.
5) After "retiring" at 50 they can go back and work as "consultants" for the police and earn another 2nd salary, taking their total pay well above $250K

If you look at the pool of people ages 50-65 pulling in well over $250K, a very good chunk of them are not doctors or lawyers, but cops and other senior civil "servants".

What is even worse, is even though it is this bad, no politician will go after the cop's unions, because to do so would bring the full might of the police down on you.

The perfect example of this is Scott Walker who went after every single public sector union in WI, but didn't go anywhere near the cops. No one, not even the president, can go after these criminals.

Edit: For the first 100 years of US history, there were no standing police forces and the country seemed to do just fine. It was only in the late 1800s and early 1900s that the large east coast cities started to create standing police forces. It was a large debate at the time with many on the side of liberty arguing that standing police forces with the law behind them will inevitably become corrupt to the bone. They were proven right.

like i said, you're doing a good job.  i was about to say...
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April 21, 2015, 06:04:36 PM
 #22950

this is a big deal. gvt backing:

Bitcoin Exchange in Chile Gets Funding from Government

http://www.newsbtc.com/2015/04/21/bitcoin-exchange-in-chile-gets-funding-from-government/
ErisDiscordia
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Imposition of ORder = Escalation of Chaos


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April 21, 2015, 07:44:16 PM
 #22951


Quote
According to New Jersey public records he earns an annual salary of $85,924.

Jesus, I have to say US government workers seem to earn quite a salary.

That is nothing especially for the NYC/NJ area.

1) He looks fairly youngish which means he is at the bottom of the union pay scale. You can be sure that by the time he is 50 his salary will be well above $150K
2) That is the base only. For overtime he gets time and a half (or sometimes double). This can easily double a cop's pay. Have you ever seen them watching road construction at night or at a sporting event, they're getting bonus time for that.
3) The benefits are amazing.
4) They can retire at age 50 and receive not just their salary, but the average of their last 3 years salary+bonus, FOR LIFE. This often translates to $+200K/yr for life.
5) After "retiring" at 50 they can go back and work as "consultants" for the police and earn another 2nd salary, taking their total pay well above $250K

If you look at the pool of people ages 50-65 pulling in well over $250K, a very good chunk of them are not doctors or lawyers, but cops and other senior civil "servants".

What is even worse, is even though it is this bad, no politician will go after the cop's unions, because to do so would bring the full might of the police down on you.

The perfect example of this is Scott Walker who went after every single public sector union in WI, but didn't go anywhere near the cops. No one, not even the president, can go after these criminals.

Edit: For the first 100 years of US history, there were no standing police forces and the country seemed to do just fine. It was only in the late 1800s and early 1900s that the large east coast cities started to create standing police forces. It was a large debate at the time with many on the side of liberty arguing that standing police forces with the law behind them will inevitably become corrupt to the bone. They were proven right.

wow thanks for putting this into perspective!

It's all bullshit. But bullshit makes the flowers grow and that's beautiful.
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April 21, 2015, 10:20:15 PM
 #22952

nice ramp, baby.  ouch.
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April 21, 2015, 10:35:52 PM
 #22953

Bears are OOT.

Out of time. 
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April 21, 2015, 11:56:53 PM
 #22954

now that's a bullish looking double bottom:

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April 22, 2015, 12:17:09 AM
 #22955

screw the shorts:

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April 22, 2015, 12:18:34 AM
 #22956

now that's a bullish looking double bottom:



I'd be a lot happier to with more volume but still a good start.
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April 22, 2015, 12:30:27 AM
 #22957

Taringa's Xapo integration could be really, really great for Bitcoin's propagation in Latin America.

https://blog.xapo.com/xapo-and-taringa-launch-largest-bitcoin-integration/
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April 22, 2015, 12:36:34 AM
 #22958

there's lotsa good sh*t going on.  this is as good a place as any to enter a bull.  200 is the new 2.
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April 22, 2015, 01:00:30 AM
 #22959

there's lotsa good sh*t going on.  this is as good a place as any to enter a bull.  200 is the new 2.
I'd rather see the price stay low for a while. Higher exchange rates means my paychecks get smaller in btc terms.
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April 22, 2015, 05:10:27 AM
 #22960

2bitidiot's latest

https://medium.com/@twobitidiot/bitcoin-the-global-reserve-9e61d6954533

contains link to Vinny Lingham paraphrased quote from Bitcoin Africa conference

"The biggest buyers of bitcoin in the next few years will be government"
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