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Digital Economy – Will Bitcoin/Litecoin Evolve to Eliminate Hoarding?

Bitcoin – Is it the Future of Currency?

Quietly, in early January 2009, an open-source software package called “Bitcoin” was released by a pseudonymous software developer named “Satoshi Nakamoto.” Seemingly straight out of a William Gibson cypher-punk novel – Bitcoin may just be the technology which undoes the upside down western system of corporate controlled capitalism.   Imagine a world economy devoid of banksters and criminal usury – a world where all the transactions are public – no secrets!

Ability to Re-Claim Hoarded Resources – Is Bitcoin’s true revolutionary power yet to be developed?

Were the economy to switch to Bitcoin, its spawn Litecoin, or something else similar, one can imagine the platform eventually evolving to include anti-hoarding measures.  The software could include technology such as generational timeouts, or “deadman’s switches” – if the coin hasn’t been circulated in so many decades/years/months/weeks/etc., it could be reclaimed by the network for re-mining.  For all the arguing that supply-siders make about giving their Randian “job-creators” yet more of the pie (and thereby increasing their hoarding), true economic stimulus occurs only when  hoarding is discouraged (or even outright eliminated via similar technology) and exchanges occur. Were anti-hoarding technologies to be implemented, the reclaiming of unspent coin would foster prosperity, as it fights the seemingly innate nature of humans to hoard, even to a level which is clearly detrimental to their fellow citizens, and ultimately to the hoarder themselves.  The lizard-brained, regressive notion of hoarding is ultimately counter-productive – as we’re currently witnessing in 2008-2013 and the worldwide economic crises.  As the 2 ends of the spectrum are actually inter-related, as more and more of the world enters poverty, the rich are gaining and even greater share of the pie.  The silver-lining may be that because the level of inequality is completely non-sustainable, it will eventually collapse as the system breaks down around the top-heavyness.

Witness the disparity – the 1% in America are sucking up more and more of the economy.  If only cash had an expiration date on it – well that’s of course impossible – but not so with the digital currencies.  This likely won’t happen for another generation or so – but Bitcoin & Litecoin will be mined until 2140, what the technologies evolve into is up to the community.  It’s possible that over time, humanity will realize that a more equitable distribution of resources is desired and will lead to greater prosperity for everyone.  If a technology evolves to the point where it can prevent the primitive human notion of hoarding, it conversely then promotes commerce and exchange – the very definition of an economy.  One can hope, that as with life, anything which creates greater prosperity along with greater efficiency will likely become adopted, over time.

More information on Bitcoin, including links to exchanges, mining information, forums, wallets and more, available here.

Wealth Inequity in Modern America – worse than ever?

This video does a great job of visualizing the perception, a version of an ideal, and the stark reality of the situation of wealth distribution in America – TL;DR:  the top 1% is literally off-the-chart.

Senator Bernie Sanders of Vermont’s Top Tax Cheats Report

Senator Bernie Sanders' report on top tax cheats.

Senator Bernie Sanders’ report on top tax cheats.

On February 24, 2013, Senator Bernie Sanders of Vermont released a document entitled,  “MEET THE TOP WALL STREET AND CORPORATE TAX DODGERS” where he lists the results of his office’s research into the matter of tax dodgers, cheats, the Cayman Islands tax shelters, and so forth.  What did he find?  Here’s a few highlights:

In 2010, Bank of America [sic] operated 371 subsidiaries incorporated in offshore tax havens. 204 of these subsidiaries are incorporated in the Cayman Islands, which has a corporate tax rate of 0%. (suggest a name change to Bank of Cayman Islands perhaps?)

Amount of federal income taxes Bank of America would have owed if offshore tax havens were eliminated? $2.5 billion.

In 2010, JP Morgan Chase operated 83 subsidiaries incorporated in offshore tax havens.

Amount of federal income taxes JP Morgan Chase would have owed if offshore tax havens were eliminated? $4.9 billion.

In 2008, Goldman Sachs received a $278 million refund from the IRS, even though it earned a profit of $2.3 billion that year.

In 2010, Goldman Sachs operated 39 subsidiaries in offshore tax haven countries.

Amount of federal income taxes Goldman Sachs would have owed if offshore  tax havens were eliminated? $3.32 billion.

GE has at least 14 tax haven subsidiaries in Bermuda, Singapore, and Luxembourg for the purpose of avoiding U.S. income taxes.

GE has stashed $102 billion in offshore tax haven countries to avoid paying income taxes. If this practice was outlawed, it would have paid $35.7 billion more in federal income taxes.

Amount of federal income taxes paid in 2010? Zero. $3.3 billion tax refund.

How politicians can justify taking more from the poor, instead of from those who actually have resources, seems fairly crazy.  If the dominant western flavor of capitalism “free market system” allows these corporations to maximize profits by externalizing costs, exploiting the environment & labor, and receiving subsidies from governments, at some point the system will be proven to be inefficient and will be recycled into something else.  As we globally evolve into a more co-operative, instead of competitive society, the prior greedy ways of  corporation socializing their costs, and privatizing their profit, will be left behind, but at what costs?

What sort of society will be left to witness that change, is likely what’s TBD…  Capitalism works well in an expansive, “limitless” world – but once the economy reaches any sort of limit, the weakness of that so-called limitless growth model soon become evident.   Society cannot just be fruitful and multiply forever – there is such a concept as carrying capacity.  Once you accept that fact / concept, you can make the logical leap to the weakness of capitalism and unsustainable expansion & growth.

Is Crowd-sourced micro-finance the future? Kiva, Indiegogo & others think so

The Pyramid of CapitalismHow to fight back against the banksters – Innovation

When governments and corporations fail the people, the people innovate. Some of the results of that kind of innovation are the latest wave of crowd-sourced, micro-finance (and not so micro) and funding sites, such as Kiva.org, Indiegogo.org, Kickstarter, amongst many others.  If the rich are going to hoard so much of the economy so as to cause harm to others, then the 99% need to fight back in such ways to prevent the 1% from hoarding the entire pie – and these crowdsourced projects do just that.  Direct lending to those in need, without middlemen bankers, brokers, agencies or others involved.  Putting capital to work directly by those who do the lending. A potentially revolutionary concept, yet another example of how the Internet is breaking down borders, and enabling direct person to person contact.

Alternate exchange methods, making censorship an obsolete concept

Open sourced technologies such as Bitcoin (currently trading @ $22 each, having the best month of its short 4 year life in January 2013), Litecoin, Namecoin and others are offering us a glimpse into what the  future may be like – an economy created not of debt, but of math, and one, which like the Internet – sees censorship as a performance issue, evolves, and routes around it.  When governments of the world began to attempt to censor the Internet, it responded by creating technologies which make such heavy-handed control attempts moot. Namecoin is one such example on the supply side – creating truly anonymous content which circumvents censorship attempts by any government or technology.  TOR (The Onion Router) on the demand / access side, allows people to anonymously connect to the Internet and to browse without fear of government or corporate censorship or monitoring.

As of Spring 2013, crowdsourcing solar project finance company Solar Mosaic, of Oakland California, has already financed over $1 million of private investments into solar projects in the United States.  Solar Mosaic is offering an attractive ROI, currently between 4%-5%, far greater than the minuscule rates offered at most banks (currently < 1% in many cases).  This is allowing direct investment into real world projects, unlike the bubble 90s and hedge funds – these kinds of enabling technologies are connecting people and successfully funding projects.  Solar Mosaic is so popular that it’s not currently accepting investments, and is actively seeking qualified projects.

2012 US Presidential Season – the first post-citizens united election

The 2012 US election season has produced some interesting symptoms of the dreaded citizen’s united decision, as well as the all out corporate takeover of all things political.

Stories you probably didn’t see widely reported from the 2012 American election season:

  • Presidential nominee arrested attempting to join debateGreen Party nominees for President and Vice-President arrested at debate attempting to join debate panel, Harvard-educated medical doctor handcuffed to metal chair for 8 hours. An un-elected, and heavily-solicited corporation, formed in 1987, the Commission on Presidential Debates (CPD), firmly controls the US Presidential debates.  Recently the contract for the final debate was leaked, and it demonstrates the full control this corporation holds over the election process (not much debating, if the candidates aren’t allowed to address questions to one another.)  From pre-knowledge of the questions to be asked, to the absolute lock-down of further discussion and probing of policy – with contractual prevention of other candidates participating, nor other avenues or locations to be used for these once-valuable tools of communication and exposure.  Dr. Stein referred to the debate-theater as a “mockumentary,” and has filed a lawsuit against the CPD.  When the only debate featuring the third party candidates is put on by Russian Television, you know things are getting screwy in America.
  • Bain capital & Romney family’s control of Ohio electronic voting machine company. See: Will E-Voting Machines Owned by His Buddies Give Mitt Romney the White House?  In 2004, shenanigans with the Ohio vote count resulted in an after-midnight switch of thousands of votes from Kerry to Bush, which gave the state to dubya, and thus the election was decided – will we see an attempted repeat performance?  The fact that a Romney/Bain-linked firm is controlling the voting machines and their tabulations, leads to some suspicions.  Ask yourself, why on Earth would the Romney family have an investment in an electronic voting machine company?  Why would they not be running open source, validated software.  The fact that these machines produce no paper trail, and are running proprietary, secret software is madness.  Allowing a private entity full control over these audit-less machines is asking for trouble. Let the sun shine in.
  • Republican war on women.  From the republican who claimed there was such a thing as “legitimate rape” and that women have some sort of biological defense to such acts, to the latest idiot to claim that children conceived from rape are a “gift from God.” Who’s G_d is he referring to anyway?  Apparently, OT Jehova with this gem:

    “I think even when life begins in that horrible situation of rape, that’s something God intended to happen.”

    –Richard Mourdock, 2012 Republican US Senate candidate from Indiana

    Michigan State Representative Lisa Brown (D), was banned from speaking on the floor of the Michigan House of Representatives by Republican House leaders after using the term “vagina”. Then there’s the GOP spokesman who suggests violence against democrat women state senators.  The fact that a Romney presidency would likely stack the court with anti-Roe justices, and the “war against women” is no laughing matter.  Thankfully we have humor to help alleviate some of the sting of ignorace.

    “If I have to listen to one more grey-faced man with a $2 haircut explain to me what rape is, I’m going to lose my mind!”

    Tina Fey in regards to the 2012 Republican’s war on women


Increasing proof that we exist inside a simulation

A fractal

From Physicists May Have Evidence Universe Is A Computer Simulation:

Technology Review explains that “the problem with all simulations is that the laws of physics, which appear continuous, have to be superimposed onto a discrete three dimensional lattice which advances in steps of time.”

Likely more proof of a fractal reality.  Alan Watts was onto it long ago:


In order to come to your senses, you sometimes need to go out of your mind.

–Alan Watts

Then there’s NASA/DoD physicist Thomas Campbell, who breaks it all down, and seems to say that what we interpret as reality is an interpretation of digital [and analog] data input streams :


The Eleven Maitri Precepts

The 11 Maitri Precepts, from Maha Sambodhi Dharmasangha guruji.

*Precept 1.* Never discriminate on the basis of name, appearance, complexion, class, belief, community, power, position, or qualification; even discard differentiating between the concepts of material and spiritual.

*Precept 2.* Having become acquainted with the Eternal Dharma, the Path, and the Guru, respect all religions and beliefs.

*Precept 3.* Forsake lying, allegations, counter-allegations, belittling and spreading falsehood through baseless gossip.

*Precept 4.* Forsaking philosophies or ways that make boundaries of divisiveness and difference of opinion, take up the Satya Marga – The Perfect Path.

*Precept 5.* Following the Satya GuruMarga – The True and Perfect GuruPath – throughout life, renouncing evil actions, always remain intent in union with the Guru Tattva – The Guru Essence.

*Precept 6.* Not having reached Enlightenment oneself, do not seek to prove what it is with clever words; and, while still in confusion, do not make others confused.

*Precept 7.* Renouncing such demonic conduct as killing sentient beings and violence, consume wholesome food.

*Precept 8.* Do not hold narrow-minded opinions about people and countries on the basis of national identity.

*Precept 9.* Engaging oneself in the pursuit of the Satya GuruMarga – The True and Perfect GuruPath – perform actions that benefit the Earth.

*Precept 10.* When one realizes the Truth, the GuruMarga – The GuruPath – takes form, so achieve Enlightenment for all Sentient Beings.

*Precept 11.* Staying in the highest and deepest state of Chitta – Pure Awareness – be free from all bondage by having understood within the self many precepts.

In association with etapasvi.com, and www.dharmasangha.info.

3D printing of King Tutankhamun

The fractals continue.  Reality, recreating reality – 3D printout of King Tut:


Linux distro for use in “hostile environments”

Liberté Linux bills itself as an open-source live distribution serving as a communication aid in hostile environments.

Got a new computer and want to save time setting it up with software? Check out ninite.com

Looking to save some time with software installing / packages? Then check out the mighty fine, time-saving service provided by ninite.com.  With this one site, you’re able to download a package containing all the up to date software for your new (or not so new) rig.  Their paid-for pro-level service even allows for remote scheduling, automatic popup blocker, simple auditing, and lots more.

This site has saved thousands of hours of time, a sysadmin’s dream.

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random thoughts and whatnot

only a wandering soul would look here for anything. non-sequiturs, links to good coffee and hot sauces, amongst other ramdom oddities, is what you're likely to find here.