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Does anyone here use Bitcoins?
40hz:
^Yes. But on a certain meta-level, isn't claiming ownership of property - in any way, shape, or form - a specie of theft? :P
SeraphimLabs:
That was cute.
Coinbase ran a nice moon rocket countdown time that led to several hours of buying and price-pumping in bitcoin, that came to an abrupt trend reversal the moment it reached zero.
And what can I say? I made bank on that selling seconds before the zero expecting the hype bubble to burst.
Today it is very nearly back to where it was last week, with rumors circulating of another major exchange hack.
At the same time the charts suggest that a major upward or downward movement is imminent, but it remains unknown which direction it is going to move.
Renegade:
^Yes. But on a certain meta-level, isn't claiming ownership of property - in any way, shape, or form - a specie of theft? :P
-40hz (January 28, 2015, 07:53 PM)
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Not in the least. Well, unless you're a communist. And we all know just how awesome communism ends. ;)
Labour theory of property (Locke)
More on Locke & property
It's a bit ridiculous to claim that "property is theft".
40hz:
^Yes. But on a certain meta-level, isn't claiming ownership of property - in any way, shape, or form - a specie of theft? :P
-40hz (January 28, 2015, 07:53 PM)
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Not in the least. Well, unless you're a communist. And we all know just how awesome communism ends. ;)-Renegade (January 30, 2015, 06:15 PM)
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About as awesomely as Libertarianism and "Free Market" economics keeps misfiring AFAICT. :P ;)
It's a bit ridiculous to claim that "property is theft".
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No more than taxation IF you accept the argument it's an acceptable trade-off for what you get in return. And that is definitely a case of something where YMMV. Usually the closer you are to the top of the food chain (i.e. where The System really is working for YOU) the less onerous government taxation and regulation generally seems. 8)
It's the age old have/have-not/has-but wants more struggle. That never changes, no matter how often you rebalance the sides. ;D
Renegade:
^Yes. But on a certain meta-level, isn't claiming ownership of property - in any way, shape, or form - a specie of theft? :P
-40hz (January 28, 2015, 07:53 PM)
--- End quote ---
Not in the least. Well, unless you're a communist. And we all know just how awesome communism ends. ;)-Renegade (January 30, 2015, 06:15 PM)
--- End quote ---
About as awesomely as Libertarianism and "Free Market" economics keeps misfiring AFAICT. :P ;)
-40hz (January 30, 2015, 07:58 PM)
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I'm not sure where you're getting that. We don't have a free market now. Sure, it's in some way similar, but it's still far from free.
Right now we have governments using Keynesian economics policies, which means creating debt, which bears interest, which compounds, and never gets paid off. Debt slavery ring any bells? :)
So, to right the wrongs, central banks double-down on this failing strategy and being printing more money (QE). Bond interest rates drop to near zero, so investors and savers look for other places to put their money -- housing, real estate, stocks -- and lo and behold, what do we have? Bubbles in the real estate, housing, and stock markets.
The artificial creation of interest rates by central banks creates malinvestment and bubbles. On the other hand, interest rates that float with the market don't create that sort of crisis waiting to happen.
For the last financial crisis, the only economists that predicted it were Austrian economists.
We'll see if their predictions bear out this time though. Given the price of oil, the drop in copper prices, and pressure on commodities, it looks like cash will be king in the next year or so.
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