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. _______________________________________________ FoRK mailing list http://xent.com/mailman/listinfo/fork

-- greg@bolcer.org, http://bolcer.org, c: +1.714.928.5476 _______________________________________________ FoRK mailing list http://xent.com/mailman/listinfo/fork ----- End forwarded message ----- -- Eugen* Leitl <a href="http://leitl.org">leitl</a> http://leitl.org ______________________________________________________________ ICBM: 48.07100, 11.36820 http://www.ativel.com http://postbiota.org 8B29F6BE: 099D 78BA 2FD3 B014 B08A 7779 75B0 2443 8B29 F6BE