[FoRK] Reminder: ZSF launch event tomorrow! Please help spread the word if you can!

Gregory Alan Bolcer greg at bolcer.org
Fri Nov 16 10:33:59 PST 2012


You keep changing the subject.

The idea that all money is equivalent is the argument bitcoin wants to 
make. You asked for flaws in that argument, so I played devil's 
advocate.  The flaw is that bitcoin is not accredited and the amortized 
value is being fed by criminal activity.

The legal argument against Napster was that it was solely a criminal 
enterprise, whose only purpose was to steal copyrighted material, and 
the criminal activity was not separate from the purpose of its being. 
Further, everything that it was and will ever be, would never evolve 
past the ability to steal copyrighted material. (You can agree or 
disagree with that, but that was the determination that led to its 
downfall).

That's not to say that bitcoin (or Napster which failed to do so) can't 
evolve past a criminal enterprise.  I was simply pointing out that it 
hasn't done so thus far and the mechanisms it's using are incentived so 
that investors have a vested stake to cover up or remain willfully 
ignorant of that criminal activity.

In the RISKS part of the transhumanist/bci portfolio, the 
over-dependence on bitcoin should be spelled out as a specific risk, 
unless of course the ZS people truly believe they are post-logical and 
true believers, which would make them a cult and not the ultra-logical 
transhumanists they truly believe.

I'm not claiming what you state below, only that the market which was 
set up has yet to evolve past the tipping point.  Do you believe bitcoin 
has evolved past a criminal enterprise?

Greg

On 11/16/2012 9:45 AM, Eugen Leitl wrote:
> On Fri, Nov 16, 2012 at 09:29:58AM -0800, Gregory Alan Bolcer wrote:
>
>> Wouldn't that be a logical fallacy?  You don't remember the Napster
>> legal arguments do you?
>
> I don't recall these arguments. I see no problem with P2P in general,
> by the way. I'm not happy that Ents are persecuted by tree killers,
> too, not that I personally care about trees.
>
> But money definitely has utility, and claiming that money is
> tainted because it's being use by evil, bad, no good people
> does not follow any recognizable chain of logic, at least
> none I'm familiar with.
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greg at bolcer.org, http://bolcer.org, c: +1.714.928.5476


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