On Mon, Dec 23, 2013 at 2:12 PM, meekerdb <[email protected]> wrote:
> On 12/23/2013 9:07 AM, Bruno Marchal wrote: > > Crypto-currencies, like cryptography, can surely help to save the freedom > of privacy and privateness. > > Crypto-currencies does not need to be a pyramidal con, like Quentin > suspects. They just allowed to create new independent banks which can do > their work "honestly" or not. > "honestly" is not moral here, but it means that it is attempted, at the > least, to not base economy on lies (which often happens to keep jobs > despite they became obsolete). > > > Money is both the most wonderful economical tool and the most horrible > life goal. > > When money is used honestly, every one (good willing enough) win and is > enriched. But the longer the play, the bigger the liars can win, so "those > who make money the main goal" crack, and corrupt the system, which at that > moment become pyramidal. > It is basically a confusion between meaning and use, or goal and tool. > > Today, a part of the economy relies on lies, so it is more the actual bank > system which seems to lead us (partially) to a pyramid. > The existence of crypto-money can help by providing different competing > economies, and can help in making transition (and awakening from the lies) > more smooth. > > > I don't see it as any different than gold or silver. Banks used to have > reserves of gold or silver and they issued their own script money that was > redeemable in gold or silver. BUT they always loaned much more script than > they had gold or silver. They relied, quite reasonably, on the fact that > in any given time interval, only few people would want to redeem their > script in gold or silver. > > Now you may say this is "lying", but so long as not done to excess, it > makes for good economics. Consider and extreme example: Suppose the > 'banker' has no gold or silver at all but he's prepared to loan script > anyway. Someone comes to him and wants to borrow $1000 to build a bridge > over small river near the town. The banker loans him the script. He pays > for material and labor, which he can do because people believe the script > is backed by gold. The bridge gets built and so farmers can come to town > much more quickly, productivity is improved and the town thrives, so more > people deposit money in the bank and the banker can actually buy some gold > to back up his script. "Artificially" increasing the money supply can be > very useful; but just as with all kinds of interactions it depends a lot on > trust. If nobody trusts anybody else, as now so many people automatically > distrust their government, then the economy is dragged down. > > http://opinionator.blogs.nytimes.com/2013/12/21/in-no-one-we-trust/?_r=0 > > Brent > > > One difference I see is that with crypto-currencies intermediaries are not required for either, 1. safe keeping, or 2. transfers. If they are never held by intermediaries then they have nothing to loan out. Jason > > > Such competitor money can help to follow the "non-monopoly rule". But they > can be swallowed by other money, and they are not immune against new lies > per se. (risk can be diminushed by investment in "real" education (≠ > brainwashing)). > > When the bandits got power, count on them to exploit (disadvantageously > for **you**) any solution you could find on the economical problem. You > might need to encrypt it :) > > Bruno > > > -- > You received this message because you are subscribed to the Google Groups > "Everything List" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To post to this group, send email to [email protected]. > Visit this group at http://groups.google.com/group/everything-list. > For more options, visit https://groups.google.com/groups/opt_out. > -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/everything-list. For more options, visit https://groups.google.com/groups/opt_out.
