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Category Archives: 031 Bitcoin

Germans arming themselves with illegal guns and grenades

I weep for Germany and its unarmed citizens.

However, there is a bright side, the market (even if it’s black) is working just fine. It seems that some enterprising individuals were able to start an online business, find the demand, ship products, and shut down their operations quite successfully.

With the advent of the distributed internet (Maidsafe) cryptocurrency (Bitcoin, Safecoin, etc.,) 3-D printing (plastics, metals, and ceramics), and online marketplaces such as OpenBazaar, I suspect you will see many more people opting for personal security.

Various packages were available to customers, ranging from €7.99 to €799, and includes guns, grenades and ammunition.Professionals, including doctors, were getting the deadly weapons delivered to their workplaces, according to Sued Deutsche.

Source: Daily Mail Online

Philippines descend into darkness

“That death toll dwarfs the 68 killings of suspects that police recorded during anti-drug operations between January 1 and June 15”, wrote Phelim Kine, Asia deputy director of Human Rights Watch. The police denied accusations of extrajudicial killings and said suspects ended up dead because they resisted arrest or fought back.

Source: The Duterte effect: Manila ruled by killer vigilantes as ‘drug pushers’ hunted down

The Inevitability of Decentralization/Distributed Networks and How To Break Open The Webopoly

Leading to the only logical conclusion: Distributed networks.

All of us, technically minded or not, need to understand the tradeoffs we’ve been making. Then we need to make decisions. We can accept choke points and lock-in. Or we can look for ways to reclaim control—declining to rely so much on centralized services, and using encryption and the new decentralized tools, such as the already-working IndieWeb, as they become available.

Source: Fast Company

Greeks rightly flock to cyber currency (Bitcoin)

“With bank doors slammed shut, frantic Greeks are turning to online trading platforms to see if the digital money Bitcoin is a better bet than the euro.

The world’s largest Bitcoin exchanges tell CNNMoney they’ve seen a surge of business from Greece.

Ten times as many Greeks are registering to trade bitcoins on the German marketplace Bitcoin.de than usual, according to CEO Oliver Flaskaemper. Bitcoin trades from Greece have shot up 79% from their ten-week average on Bitstamp, the world’s third-largest exchange.

Even trading platforms in China are getting interest. LakeBTC, headquartered in Shanghai, is seeing a 40% increase in visitors using computers in Greece.

Over the weekend, the Polish exchange Bitcurex got flooded with emails from Greeks. Among their questions:”

(Via.) CNN Money <— Read more here

Blacklisted: Martin Armstrong’s “The Forecaster” Movie Now Available And A Must See

“Any movie about the corruption of the US government and the US financial system that is blacklisted in the US is bound to get our attention.

‘The Forecaster’ is exactly that. It’s a movie about Martin Armstrong’s amazingly accurate forecasting system called the Economic Confidence Model and how he was jailed for nearly a decade, in torture type conditions, for not turning over his model to the CIA and Wall Street.

I’ll let the trailer mostly speak for the movie itself here:”

(Via.) TDV <—Read more here and see the trailer

Bitcoin Truly “Disrupts” Argentina Collectivist Policies

“Bitcoin is supposed to be the latest disruptive technology. But whenever you hear someone use the buzzword ‘disruptive,’ turn on your B.S. detector. Sure, technologies can be vaguely transformative, and that’s fine as far as it goes.

But the original concept of disruptive innovation is narrower. This term of art came from Harvard Business School guru Clayton Christensen, who meant something very specific.

‘Disruptive innovation,’ according to Christensen, ‘describes a process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves up-market, eventually displacing established competitors.’

Remember, that’s the ‘bottom’ of a market, and by that, Christensen means not wealthy. (This distinguishes a disruptive tech from other transformative innovations, like computers and cell phones, which started at the top.) And the not-wealthy can sometimes be desperate to escape to a better system.

When it comes to Bitcoin, even the New York Times Magazine has figured this out:

Bitcoin proponents like to say that the currency first became popular in the places that needed it least, like Europe and the United States, given how smoothly the currencies and financial services work there.

It makes sense that a place like Argentina would be fertile ground for a virtual currency. Inflation is constant: At the end of 2014, for example, the peso was worth 25 percent less than it was at the beginning of the year. And that adversity pales in comparison with past bouts of hyperinflation, defaults on national debts and currency revaluations.

Less than half of the population use Argentine banks and credit cards. Even wealthy Argentines fear keeping their money in the country’s banks.

And the disruption is already happening: ‘Argentina has been quietly gaining renown in technology circles as the first, and almost only, place where Bitcoins are being regularly used by ordinary people for real commercial transactions.’

That satisfies the bottom of the market criterion. Whether it’s Argentines struggling with hyperinflation, or sub-Saharan Africans living under dictators and warlords, the developing world is likely to embrace bitcoin simply because it’s so much better than the failed banking and currency systems they’ve been locked in for so long.”

(Via.) Foundation for Economic Education

 

 

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