Bitcoin Again and Other Stuff 4/15/13

Posted: April 15, 2013 by chad98036 in Uncategorized

Zen Pencils – (via Hacker News) – Advice for Beginners

Basically – Nobody tells you this but no matter what you think you are good at, you suck at first.  The secret is to not quit and to keep trying so that you get better.

ReutersUS and China Agree to Establish Cyber Security Working Group

I’m sure that as with all Obama’s Foreign Policy initiatives this one will be a smashing success.

Earlier, China’s official Xinhua news agency quoted Foreign Minister Wang Yi as telling Kerry in their meeting that China and the United States should make joint efforts to safeguard cyberspace.

Cyberspace should be an area where the two countries can increase mutual trust and cooperation, Wang told Kerry, according to Xinhua.

And by safeguard he of course means allow China to totally dominate and by extension hold hostage our banking and critical infrastructure systems.

NY TimesRise of the New Groupthink

TL-DR: Leave me alone and let me work

The New Groupthink has overtaken our workplaces, our schools and our religious institutions. Anyone who has ever needed noise-canceling headphones in her own office or marked an online calendar with a fake meeting in order to escape yet another real one knows what I’m talking about. Virtually all American workers now spend time on teams and some 70 percent inhabit open-plan offices, in which no one has “a room of one’s own.” During the last decades, the average amount of space allotted to each employee shrank 300 square feet, from 500 square feet in the 1970s to 200 square feet in 2010.

The RegisterAntarctic Ice Sheet Melt “Not That Unusual”

In research published yesterday, a large team of scientists used a deep ice core from the Western Antarctic Ice Sheet Divide to produce records going back some 2,000 years. Their analysis shown that recent melting in that area, which has caused a good deal of hysteria* in climate alarmist circles, is in fact normal.

The Hacker NewsMassive Cyber Attack Scheduled Against the USA by a Group of Unknown Individuals

Mark July 5th on your calendars because that is the scheduled kick-off for #OpUSA.

(T)he reason for the attack is "war crimes in Iraq, Afghanistan and Pakistan."

The operation seems to focus on financial services as the "Poster" for #opUSA mentions that they will "Hurt the only thing the American government cares about money, time to hit them where it hurts".

Bitcoin Stuff

The Economist Inside the Bitcoin Economy

More probable: either Bitcoinia will remain a small, fringe economy thanks to inherent instability, or a stabilising financial structure will somehow grow within it. And then one day we just might see a Bitcoinian J.P. Morgan gathering Bitcoinia’s financial eminences into a virtual office to cooperate in an effort to stave on looming financial panic…

In short it’s too unstable to be useful right now but that could change, but if it does then you still have the risks attendant with other currencies.

TechCrunchHow Five Real Economists View Bitcoin’s Future

I would say all 5 are soewhat optimistic about the survival of a Bitcoin like product if not Bitcoin itself. 

Example –

(T)he real question isn’t whether Bitcoin will falter, plummet or take us all on a crazy ride, it’s whether it will actually survive its inevitable test. If it does, even at very low values, it will change the way we think about stores of value, finance and the independence of the virtual economy.


I think a significant contribution of the bitcoin market is that it serves as a proof-of-concept for a decentralized crypto-currency. Two benefits are that bitcoins are inherently deflationary and transactions are anonymous. Given the recent slew of fiscal crises and increasing concerns about online privacy, these are two strong points in bitcoin’s favor—or whatever future crypto-currency arises.


I think the algorithmic approach to controlling the money supply used by Bitcoin and other digital currencies being developed in Silicon Valley could go a long way to creating a sound store of value.

The other readers apparently disagree since they all find all five economists to be idiots who are wrongly disparaging the greatest invention since the flush toliet. 

BTW it’s Tax Day – If you haven’t filed get hopping

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