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Comment Re:Property-seizures MUST STOP (Score 1) 142

1) If it did happen that wouldn't stop it. You can't stop Bitcoin any more than you can stop torrents. 2) They won't do this as it would be most inconvenient to those with wealth. Wealth controls the power structure of the world today. Once adoption of Bitcoin takes place, it would be protected by those who have it.

Comment Re:Property-seizures MUST STOP (Score 1) 142

Desert Snow encouraged state and local patrol officers to post seizure data along with photos of themselves with stacks of currency and drugs

Law enforcement doing their job — and bragging about it — is fine. All professions do that, it is normal.

I don't even mind them seizing the (illegal) drugs, but possession of cash is not against the law. Unfortunately, a loophole in the American legal thinking (as well as the British, which we inherited) does not provide much protection to a person's property . Nowhere near as much as to the person himself.

The Executive can seize cash, vehicles, and even real estate without Judiciary oversight or approval — and that ought to stop. Their justification — that what they are seizing things was used for "criminal activity" — comes into play, before anyone is convicted in any criminality.

That must stop. A judge may impose limitations on using of the suspect property (and fund-transfer) — the same way movement limitations are imposed on a person, while investigation is ongoing or a trial is pending. But no seizures ought to be permitted until a "Guilty" verdict is pronounced and the sentencing enumerates, what's to be seized as a punishment.

It's time to start carrying a form of money that cannot be seized by authorities. (That is, as long as you can keep your private key a secret.) Oh dear... what are the authoritarians going to do when Bitcoin adoption goes maintream?

Comment Smacks of Carmack (Score 2) 138

This smacks of the same crap Id is trying to pull off on Carmack (http://popcultureblog.dallasnews.com/2014/05/zenimax-and-id-software-have-filed-a-lawsuit-against-oculus-vr-and-dallas-based-john-carmack-is-in-the-middle.html/). Apparently employers think they own any knowledge an employee gains while on the job. Sure, secrets are secrets. But is *everything* they learned on the job is a secret?

Submission + - BitPay, Toshiba Partnership Brings Bitcoin to 6,000 New Merchants (coindesk.com)

Raystonn writes: Toshiba has announced the integration of Bitcoin support in their touch-screen point-of-sale platform, VisualTouch, used by over 6,000 merchants. The merchants will now be able to accept Bitcoin payments at the register from anyone with a smartphone or any other QR code reader. Acceptance of Bitcoin as a payment method frees merchants from worries of fraudulent chargebacks, as Bitcoin payments are non-reversible just like cash, while allowing settlement deposits in any of 9 currencies, including $USD and Bitcoin.

Submission + - Bloomberg's trading terminals now providing Bitcoin pricing (bloomberg.com) 1

Raystonn writes: Bloomberg has announced the release of Bitcoin support in their trading terminals, used worldwide by over 320,000 trading professionals. The market makers of the world will now have instant access to immediate Bitcoin prices on an industry-standard trading platform. This places the virtual currency before the eyes of the movers and shakers of most of the world's money supply as they decide where to invest their $USD holdings.

Comment Goodbye anti-spam automated challenge systems (Score 1) 101

Think how much the spammers and data miners would pay for such a simulated brain. Typical anti-spammer challenges on the web involve presentation of a picture of a sequence of characters and digits, which you must identify and repeat back as ASCII text. This simulated brain could easily accomplish that task. What challenge system will we switch to next...

Comment Re:Hell must be freezing over... (Score 2, Insightful) 135

Interesting. Reporting to a central authority. Now I can see why they opted for this path rather than have a device check its surroundings. They benefit from making devices a bit simpler and collecting information on the useful idiots at the same time. Genius.

To be honest, I'd rather my devices have a modicum of intelligence and look around to find the best frequency to use. To do otherwise leaves the whole system open to attack. What happens if this central authority server goes down? What happens if a rogue device doesn't report to the server? I'd like my robots with eyes and ears please, not being remote controlled from D.C.

Comment Re:Government is the problem, not the solution (Score 1) 799

Statistically speaking, when someone else is covering for your mistakes, you take more risks. Management of risk versus reward is a business requirement. When someone lops off a giant portion of your risk, you are suddenly free to increase that risk further in the pursuit of more reward. As far as your higher prices, if only one player in the market is saddled with increased costs, and this player does not make up the majority of the market by itself, the market should remain little changed. That would ensure BP could not pass its fines and cleanup costs to its customers.

Comment Re:Government is the problem, not the solution (Score 1) 799

Would you extend this line of thinking to the price at the pump. Let's say, hypothetically, that the end result of this is a ten cent rise in a gallon of gas, should BP be forced to make up the difference? What if the price of diesel jumps up and thus the price of fresh veggies and other consumer products jumps? Should BP also be on the hook for that? Just how much should the market and the wider society have to pay for BP's massive error? And what if BP cannot in fact entirely clean up the Gulf coast? What if the fishery is ruined for decades? Should BP be forced to pay an annual wage that averages out to be what fishermen would have received if they had been able to fish? Should BP be forced to pay for higher fish prices at restaurants and fish markets?

There are other oil companies that are not required to pay for this cleanup. Their prices will remain low. To be competitive, BP will be forced to continue selling at the same price as everyone else. So they will be unable to pass the costs on to consumers buying gasoline.

That said, BP should be responsible for *all* of these costs through damages to be awarded in court after each claimant shows proof to the court. Ideally, noone should be able to show any increase in gasoline prices due to this problem, as other oil companies remain unaffected by fines and clenaup costs, and BP has many so many other sources of oil, that this will not dramatically affect the amount of oil on the market. But anyone who can show proof of damages to the court should be compensated.

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