Re: dbts: Lions and TEMPESTs and Black Helicopters (Oh, My!)
"Awwwww, C'Monnnn. Niiiice taxpayer. Staaaaay. *Don't* go anywhere. Pleeeeease?"
*** By and large I agree with you, the fears of TotalControl(tm) are largely unfounded. Abuses do exist. Always have. *** These unregulated virtual economies need to conduct trade with ActualPhysicalSpace. The interface is where the control will be exerted. If you can't safely convert your LibertE$ to physical goods their value will be quite low. Participation will be limited. Also, as the TaxAorta becomes occluded the TaxDoctors will have to devote more energy and use more drastic methods to keep the flow going. Mike
At 11:04 PM -0500 on 11/2/98, Michael Motyka lobs a low, slow one, over the plate:
These unregulated virtual economies need to conduct trade with ActualPhysicalSpace.
Oh. That's easy. Check out the essay section of <http://www.philodox.com/> for a good prima facie underwriting model for digital bearer instruments, expecially the model map. Render unto FinCEN. No problem. Flatland can't reach the sky no matter how hard they try. (hey. I'm rapping... pbbbt. tht. pbbbt. pbbbt. tht... :-)) Cheers, Bob ----------------- Robert A. Hettinga <mailto: rah@philodox.com> Philodox Financial Technology Evangelism <http://www.philodox.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
Oh. That's easy. Check out the essay section of <http://www.philodox.com/>
"Notice a few things about the mechanics of the model. First, everyone who puts money onto the net, or takes it off, is identified to the complete satisfaction of government regulators everywhere. Digital bearer cash is treated just like physical cash in the eyes of regulators, and is subject to the same regulations. There is no functional difference between a digital cash underwriter and an ATM machine."
Render unto FinCEN. No problem. Flatland can't reach the sky no matter how hard they try. (hey. I'm rapping... pbbbt. tht. pbbbt. pbbbt. tht... :-))
It is the financial foundation for a cyber world where regulators will probably have a great deal of trouble operating. They may have no choice but to settle for taking their cut at the borders. I still see many of the same old problems when attempting to trade hard goods, at least in large quantities. The problem of having to explain how you came by a 6000 sqare foot home on 100 acres of mountainside in Lake Pacid is not solved. It's not a total solution but it looks good. It could be a great way to save for retirement - nobody can tell how much E$ you have accumulated, where it came from or where you keep it. Just draw it out as you need it, pay your taxes at the gate and use the 5th when necessary. Regards, Mike
At 09:17 AM 11/4/98 -0800, Michael Motyka wrote:
It is the financial foundation for a cyber world where regulators will probably have a great deal of trouble operating. They may have no choice but to settle for taking their cut at the borders.
Note that the "informal" sector as a percentage of the "formal center is 100% for the Russian economy, 30% for the Italian and Belgium economies and at least 10% of the US economy with conventional payment systems.
I still see many of the same old problems when attempting to trade hard goods, at least in large quantities. The problem of having to explain how you came by a 6000 sqare foot home on 100 acres of mountainside in Lake Pacid is not solved. It's not a total solution but it looks good.
Rent don't buy.
It could be a great way to save for retirement - nobody can tell how much E$ you have accumulated, where it came from or where you keep it. Just draw it out as you need it, pay your taxes at the gate and use the 5th when necessary.
True. Even works for general purposes. Very hard to "net worth" people. Expensive process. DCF
participants (3)
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Duncan Frissell -
Michael Motyka -
Robert Hettinga