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

[Gregory Alan Bolcer]

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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>

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