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Geert Lovink and Patrice Riemens: The Bitcoin Experience (part I)

Geert Lovink and Patrice Riemens: The Bitcoin Experience (part I) | Economy | Scoop.it

Bitcoin does not respond to an effective demand, but to an emotional desire. The internet crypto currency expresses a longing for liberation through the mediation of technology.

 

It grows out of a post-apocalyptic will to start all over again, in between financial crises of epic proportions, to put an end to the never-ending recession. This time, so do believers in Bitcoin maintain, the economy will be led by our tribe of techno-libertarians, and not by the vile, corrupted banksters and  politicians in their employ.

 

Amidst the rubble of the collapsing global capitalism, there is nothing left to demand—who would listen anyway? What is your blueprint for the next monetary system? After all, Bitcoin architecture is not a given.

 

Let’s be frank: everything is up for grabs, including the premises of the Bitcoin project itself, which is what we intend to do here.

 

Read more: http://networkcultures.org/geert/2015/01/28/geert-lovink-and-patrice-riemens-the-bitcoin-experience-part-i/


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Sepp Hasslberger's curator insight, March 9, 2015 4:51 PM

Bitcoin is not going to be our next monetary system, say the authors of this piece. If anything, it can be a testing ground for what comes after it.

That would be a monetary system perhaps based on a distributed computing technology, but where parameters are carefully chosen to make it work smoothly as a currency, rather than something that encourages savings or speculative behavior.

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Myths and realities of clean technologies

Myths and realities of clean technologies | Economy | Scoop.it
Don’t be fooled by high-profile setbacks. The cleantech sector is gaining steam—with less and less regulatory assistance. A McKinsey & Company article.

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Willy De Backer's curator insight, April 15, 2014 11:55 AM

Very optimistic McKinsey analysis about the growth of clean technologies.

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The Most Important Economic Stories of 2013—in 44 Graphs

The Most Important Economic Stories of 2013—in 44 Graphs | Economy | Scoop.it
A record year for stocks. A meh year for wages. A weird year for Wall Street.
Pierre Jeanson's insight:

Where we learn that real wages haven't really increased in years and that corporate profits have been the only consistently rising metric of economic success.

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BITCOIN in Light of Passive BIBO Currency

BITCOIN in Light of Passive BIBO Currency | Economy | Scoop.it

Passive BIBO Currency is concerned with providing a stable measure of the value attributed to goods and services being transacted.  

 

Each transaction generates its own units that are resolved against existing balances such that when all providers of goods and services have redeemed all equivalent value in future transactions of goods and services, then all balances return to zero.  

 

By applying formal stability and control theory, BIBO Currency resolves the lack of logical congruency in defining money as both an object of value that varies according to its relative scarcity as well as a unit of measure of that same value. 

 

BITCOIN is focussed on providing a decentralised supply of an artificial commodity (BITCOINs) that mimics precious metals as mediums of exchange but with the difference that ostensibly, mining cannot be monopolised although the system does establish a predetermined limit of maximum 21 million units that will ever be mined,  each of which is susceptible to a maximum subdivision...


Via Sepp Hasslberger
Pierre Jeanson's insight:

Good insight into BIBO currency

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Sepp Hasslberger's curator insight, November 15, 2013 4:14 AM

This article goes to the heart of the philosophy behind Bitcoin and points out that Bitcoin is subject to the same logical flaw as our current bank-issued money: A scarce commodity cannot, by definition, be an efficient measure of the value of commercially exchanged goods and services ...

Naomie Mullins's comment, November 26, 2013 10:19 AM
Sepp...please let me know if you watch this and what your opinion is...<br>https://www.youtube.com/watch?v=6qXhqSy0nbg<br>Still Report #132 - Quark vs Bitcoin?
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MacroDigest - Systemically Important Economic News

MacroDigest - Systemically Important Economic News | Economy | Scoop.it
MacroDigest brings together information and analysis on everything moving the economy - all on a single page. You can stay on top of what's systemically important with just a glance.
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A very convenient economics aggregation website

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Why the sharing economy isn’t always good for you

Why the sharing economy isn’t always good for you | Economy | Scoop.it
The Sharing Economy is disrupting many old industries and creating opportunity for many freelancers. But what about your rights? We argue that the sharing economy isn't always good for you. (Why the sharing economy isn't always good for you.

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60 Minutes - IS THE US STOCK MARKET RIGGED? - YouTube

Excerpts from an energetic CNBC live debate that distracted traders on the floor of the New York Stock Exchange. BATS Global Markets president William O'Brie...
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Arriving late to the party

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Simon Jenkins: It’s easy to blame Bob Crow for Tube strike but he’s just doing his job

Simon Jenkins: It’s easy to blame Bob Crow for Tube strike but he’s just doing his job | Economy | Scoop.it
The Tube union boss, Bob Crow, is often derided as a ghost of times past, from the days when union leaders “ran the country” and politicians did their bidding. He certainly plays to the stereotype. He earns £145,000 a year, claims to be a communist turned socialist and lives in a Woodford council house. He appeared in the weekend press as masterminding this week’s Tube strike from a luxury cruise liner off Brazil.
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"At a basic £44,000 salary plus perks, he has made them among the highest-paid workers in the public sector. True, only 40 per cent of the drivers voted in the recent strike ballot, meaning just 30 per cent voted to stop work. But minority-elected politicians can hardly criticise the RMT for that."

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Sorry, Folks, Rich People Actually Don't 'Create The Jobs'

Sorry, Folks, Rich People Actually Don't 'Create The Jobs' | Economy | Scoop.it
The theory sounds great. It just doesn't happen to be true.
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This goes without saying, but it goes better when saying it.

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Corporate Tax Havens and Tax Burden Shifts

Corporate Tax Havens and Tax Burden Shifts | Economy | Scoop.it
"...tax haven abusers force other Americans to shoulder their tax burden."


U.S. PIRG, an organization I don't generally have much in common with, published an interesting and informative report on offshore corporate tax havens.
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A good discussion on tax haven on LinkedIn

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Should the Bank of England’s objective be changed?

Should the Bank of England’s objective be changed? | Economy | Scoop.it
James Barty, Policy Exchange's Senior Consultant for Financial Policy and author of recent Policy Exchange report Reform on the Bank of England, highlights the reasons why the Bank of England should change its objectives.
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A very interesting discussion on the BoE target

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