[Chugalug] Bitcoin = scam

Nick Smith nick at nicksmith.us
Thu Aug 8 11:59:38 UTC 2013


And then there's this:

http://www.theverge.com/2013/8/7/4598644/bitcoin-is-real-money-rules-us-texas-district-court

And for some reason this thread reminds me of this:

http://xkcd.com/386/


On Wed, Aug 7, 2013 at 3:50 PM, Stephen Kraus <ub3ratl4sf00 at gmail.com>wrote:

> Ok Tyler, now that I'm no longer flying:
>
> A. The price of labour follows a close correlation with the price of all
> other commodities. It makes sense when you think about it, because you have
> to use labour to create anything of value, including capital goods that are
> used to reduce labour costs in the future.
>
> B.The USSR collapsed for mostly political reasons, such as giving Russia
> its own parliament (it voted to secede to get away from its poor
> peripheries), rather than economic ones. Examples of efficient resource
> allocation without a market are endemic in modern life: no large
> corporation has an internal market, they are all internally run as
> miniature command economies. In fact, most large organisations use some
> kind of management information system to allocate resources without a
> market. President Allende of Chile created Project CyberSyn to run his
> nation's economy under a similar principle.
>
> C.Everything I need to know about Mises I read here:
> http://socialdemocracy21stcentury.b...arrassment.html<http://socialdemocracy21stcentury.blogspot.co.uk/2010/10/mises-on-fascism-in-1927-embarrassment.html>
>
> D.
> http://mises.org/daily/2066
>
>
> E. http://www.youtube.com/watch?v=QIHLezCyzCI
>
>
> On Wed, Aug 7, 2013 at 2:51 PM, Aaron Welch <n2nightfall at gmail.com> wrote:
>
>> Agreed.  It's like telling investors to stop buying oil futures because
>> you are investing against the market.  Good luck with that.
>>
>> -AW
>>
>> On Aug 7, 2013, at 1:17 PM, Stephen Haywood <
>> stephen at averagesecurityguy.info> wrote:
>>
>> Whether it's a scam or not will be decided by time not by arguing on a
>> LUG list. In the meantime if people are able to make money then why not let
>> them.
>>  --
>> Stephen Haywood
>> Owner, ASG Consulting
>> CISSP, GSEC, OSCP
>> 423.305.3700
>> stephen at averagesecurityguy.info
>>
>>
>>
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>>
>
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>


-- 
--------------
Nick Smith
nick at nicksmith dot us
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