Bitcoin donation

zero · 2014-05-16 15:13:49

I’m not quite sure exactly how Bitcoin will fit in but here’s the clearest info about economy I’ve ever come across. It’s a video that I couldn’t find a way to pause, so please allow yourself at least 30 minutes continuous time to view it.

Moneyweek report

colak · 2014-05-16 17:30:36

zero wrote #280864:

I’m not quite sure exactly how Bitcoin will fit in but here’s the clearest info about economy I’ve ever come across. It’s a video that I couldn’t find a way to pause, so please allow yourself at least 30 minutes continuous time to view it.

Moneyweek report

Hi Peter, I watched the video but I think that the shock doctrine is somehow more relevant in helping people form an understanding of the current way international business is carried out. 78 minutes is long but it’s definitely worth watching.

@Oleg. Because of the bank crises here I do not even have a debit card now let alone any bitcoins:)

Bloke · 2014-05-16 22:30:57

zero wrote #280864:

Moneyweek report [the text version for those that prefer to read than watch]

All good stuff. Just don’t forget the antidote :-)

Somewhere between these two extreme viewpoints are some sensible lessons to be learned. Any system based on privately-funded printing of currency or cheap borrowing in which governments have to raise taxes to pay back just the interest on the loans/printing presses is a hiding to nowhere. None of the people that make the decisions — irrespective of party policy — are altruistic enough to not be in it for themselves. They have families, and self preservation is rule number one.

That’s why Bitcoin and its friends are important because decentralization of currency and the (eventual) stabilisation of that currency gives us — the people — the power back. As long as no one entity gains over 50% of the power.

Me? I’m aiming for zero debt as quickly as I can to reduce my attack surface. And if when the shit hits the fan, I’m taking a leaf from Iceland’s book and going to help hunt down the pillock bankers, financiers and politicians who put us here through greed. Anyone who wants to join me: line on the left, one pitchfork each…

Gocom · 2014-05-17 03:16:33

philwareham wrote #280863:

Isn’t Finland’s economy still quite closely tied to the fortunes of Nokia?

In plain number, but Nokia never employed that many people. Outside from testing labs, we didn’t make phones nor any components. Nokia closed its bigger research factories located in Finland back in 2012, taking away about 1,000 jobs, and by the end of the year, it had no real research factories at all in Europe.

Other issues come from paper, mines, metal and other factories that are all gone to developing countries. Within the last year, majority portion of media is gone too. No one, but Finland’s equal to BBC, YLE survived internet without losing pinkie or too.

We also had the Nokia UK headquarters in my hometown but it’s closed now and relocated to London, lots of local jobs gone – although on a positive spin it’s left quite a highly skilled workforce, who can probably find new work quite easily.

Post-Nokia has started boom startups here… well, ten or so (small country, eh). Will see how many last even five years.

gaekwad · 2014-05-17 09:51:57

philwareham wrote #280863:

[…] the Nokia UK headquarters in my hometown […]

When they try to demolish that building, I bet it’ll be almost impossible to knock down.

Last edited by gaekwad (2014-05-17 09:53:43)

JimJoe · 2014-05-17 13:40:13

maniqui wrote #280842:

What you mean by “behind it”? Who is “behind the Internet”? Who is “behind culture”?

My answer: many individuals: entrepreneurs, coders, merchants, artists, scientists, people.
Also, imo, people doesn’t use (in a pragmatic sense) stuff because someone is behind it. They just use it out of convenience. In other words, most people don’t use dollars because a government or a bank issued it, but because they know (usually by experience) that the next merchant will accept it in exchange of goods.

Well, fiat money is just created by someone who really is “behind it”.
Some prefer to call Bitcoin a concordia currency.

And Bitcoins are stored in a publicly-shared, decentralized database.
Money stored in a bank is similar to money stored in Bitcoin: it’s just information about who’s the owner of some units of currency.

But that is a definition provided by bitcoin.

To me, fiat is money that someone claims is worth something, but has nothing but their word it is worth that.

After reading the concordia definition page, it comes across to me as fiat money. It is worth a certain amount, because a group of people says it has that worth.

colak · 2014-05-17 15:48:10

Bloke wrote #280867:

Anyone who wants to join me: line on the left, one pitchfork each…

Hear, hear… Although I think a buldozer would be more effective than a pitchfork.

zero · 2014-05-18 16:41:33

colak wrote #280865:

Hi Peter, I watched the video but I think that the shock doctrine is somehow more relevant in helping people form an understanding of the current way international business is carried out. 78 minutes is long but it’s definitely worth watching.

Thanks for the Shock Doctrine link, Yiannis, definitely well worth the watch and relevant to all.

zero · 2014-05-18 17:27:00

Bloke wrote #280867:

All good stuff. Just don’t forget the antidote :-)

Somewhere between these two extreme viewpoints are some sensible lessons to be learned. Any system based on privately-funded printing of currency or cheap borrowing in which governments have to raise taxes to pay back just the interest on the loans/printing presses is a hiding to nowhere. None of the people that make the decisions — irrespective of party policy — are altruistic enough to not be in it for themselves. They have families, and self preservation is rule number one.

That’s why Bitcoin and its friends are important because decentralization of currency and the (eventual) stabilisation of that currency gives us — the people — the power back. As long as no one entity gains over 50% of the power.

Me? I’m aiming for zero debt as quickly as I can to reduce my attack surface. And if when the shit hits the fan, I’m taking a leaf from Iceland’s book and going to help hunt down the pillock bankers, financiers and politicians who put us here through greed. Anyone who wants to join me: line on the left, one pitchfork each…

Thanks for the link to the written version of the Moneyweek report Stef. The antidote above is interesting and has lots of good stuff but to me he is guilty himself of his accusation that Moneyweek’s journalistic standards are weak. He states that Moneyweek are claiming that “the 2007-08 global financial crisis and the resulting credit crunch were caused by excessive state spending, rather than the altogether more plausible theory that the current economic chaos came about because of reckless gambling and outright corruption in the financial markets, enabled by wave after wave of ideologically driven deregulations since 1979.” This is simply not true, they don’t say that, in fact they acknowledge those ‘plausible theories’ that he talks about. OK, I don’t know Moneyweek’s agenda like he seems to do but I found the the video/article’s agenda to be very helpful to me and people like me (non-investors, non-money-oriented) and no doubt to their target audience of investors they want to turn into subscribers. It is presented in an excellent manner, very interesting and easy to follow, and although it’s about Britain I feel sure it will apply equally to confused people in many countries, particularly Western Europe and those that generally follow the USA doctrine of economics.

Bitcoin to me is like early Internet – everyone said it has such potential to change the world for the better. But as soon as money and commercial interests stepped in, the net became what it is today – mostly a market for the rich and powerful to exploit. Investors and entrepreneurs are moving into Bitcoin and I fear the worse and it will just become another part of the mainstream financial universe, no doubt with a new set of billionaires who were clever enough to exploit it’s potential for their own ends.

But I am not completely pessimistic and await your custom fields development before launching my secret antidote to the world’s problems. I’m getting too old for pitchforks and bulldozers!

Bloke · 2014-06-16 13:07:27

More (possibly misguided) thoughts on this topic in light of some recent media attention: BitCoin and the 51% attack vector.

ax · 2019-06-04 01:58:10

Gocom wrote #280554:

That said, I do have a very rich (with 8bit air, that is) Bitcoin address: 1LSUKQoGbLJukYgQSKeTPe912keenCgovm, which anyone is free to use it instead of that PayPal link.

This is an old thread, and at this time one Bitcoin was 450$, now it is over 8.000$. Therefore, the 50$ in this Bitcoin wallet in 2014 are 850 Euro today. Hopefully, gocom still remembers the password :-).

philwareham · 2019-06-04 05:53:15

I still don’t understand what bitcoin does apart from destroy the environment. We need to stop this shit ASAP.

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#25 2014-05-16 15:13:49

Re: Bitcoin donation

#26 2014-05-16 17:30:36

Re: Bitcoin donation

zero wrote #280864:

#27 2014-05-16 22:30:57

Re: Bitcoin donation

zero wrote #280864:

#28 2014-05-17 03:16:33

Re: Bitcoin donation

philwareham wrote #280863:

#29 2014-05-17 09:51:57

Re: Bitcoin donation

philwareham wrote #280863:

#30 2014-05-17 13:40:13

Re: Bitcoin donation

maniqui wrote #280842:

#31 2014-05-17 15:48:10

Re: Bitcoin donation

Bloke wrote #280867:

#32 2014-05-18 16:41:33

Re: Bitcoin donation

colak wrote #280865:

#33 2014-05-18 17:27:00

Re: Bitcoin donation

Bloke wrote #280867:

#34 2014-06-16 13:07:27

Re: Bitcoin donation

#35 2019-06-04 01:58:10

Re: Bitcoin donation

Gocom wrote #280554:

#36 2019-06-04 05:53:15

Re: Bitcoin donation

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