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Comment Re:BitCoin has complete record of transactions. (Score 1) 115

All the fellatio fanatics have blown this coito-currency out of proportion. A blowjob-based currency will never work, here's why;

1. Transactions are too slow. Who wants to wait 5+ minutes to receive their stash?
2. Bob's capacity for receiving payment diminishes drastically after each purchase.
3. It's incredibly painful to reverse a transaction.
4. Blowjobs are inherently deflationary.

Comment Re: It's a status thing (Score 1) 717

It's true, globalisation undercuts my argument that all players in an industry are in the same boat as wage regulations are only local. The counter-argument to rising prices is that it's not linear. Doubling the minimum wage won't double prices* The redistribution caused by raising the minimum wage sucks money from capital and business owners, typically those who are more wealthy. The underclass is therefore better off even if their steak sandwiches cost $18 like in Australia.

That said, you have to do these things gradually, you can't just jump the U.S. to the Australian minimum wage without industrial chaos.

* Overall, it actually may do worse than that in particular situations, the supply and demand equation can be unstable.

Comment Re: It's a status thing (Score 1) 717

That appears to be well above the Norwegian minimum wage and yet McDonald's remains a viable business in Norway. That should be an informative data point for those who believe raising the minimum wage will destroy industries. It has some effect on prices, for sure, but when all businesses in the industry are in the same situation it still works. Further, you eliminate the underclass who now have more disposable income to spend.

Here's an interesting article on how McDonald's functions under high minimum wage conditions.

Comment Re:BMI (Score 1) 225

You are probably right. I considered mentioning this in the original post - I don't do any gym work at all. However I do have a solid 'V' shape and am of average height, hence the BMI. Weight 95kg, could afford to lose 5 of those. I cycle 40km per day, eat way too much chocolate.

There was a story this week where Israel has banned ads using models with a BMI under 8.5, which is astounding that they felt the need to do this. I can maybe understand it for World Vision sponsor children, but regular products?

Comment Re:By reef... (Score 1) 277

You know, social media, Get Up and Change.org have probably done more to tip me toward conservatism than anything else (I still consider myself somewhat leftish). People mindlessly click and share all manner of misleading hype simply because it aligns with their world view or the set of beliefs that they associate with their political 'team'.

That said, your analysis is not perfectly fair either. Silt is being moved from point A to point B, but the issue is that it is no longer stably compacted but will suspend in the water and become susceptible to long-range movement. I have no idea how significant this will be.

Comment Re:lol Bush.Lincoln, Roosevelt. Obama unilaterally (Score 1) 383

Congress did not declare war. They authorized military action, but lacked the balls to declare war.

True, but that has been standard protocol since after WWII. It is (sadly) a separate issue to congressional approval which is the OP's benchmark for comparing the imperialism of presidents.

Comment Re:Tin foil hat time (Score 1) 330

True, economics was my worst subject in school, it never felt exact enough. I don't think they cover fractional reserve banking at the high school level, but it would be beneficial for everyone to understand it.

In the $ example, the depositor thinks they have $300 in their account and the borrower thinks they have $300 in their loan account, and they are both sort of right. Both can actually spend that money and transfer it to third parties at other financial institutions.

With bitcoin, each BTC is cryptographically signed. The bank cannot transfer the depositor's 300 BTC to the borrowers loan account without it disappearing from the depositor's account. Each BTC is unique, unlike $s which are essentially pooled by the bank to amortise the 'runs' on particular accounts. Am I misunderstanding? Perhaps banks could pool bitcoin in the same way, and the coins you transfer to your account are not necessarily the coins you use when you spend them, however this would seriously break the design of bitcoin.

All this shows why Bitcoin is not designed to replace national currencies. It is intended as a mechanism to transfer existing currency , although it behaves like a currency in various ways.

Comment Re:Tin foil hat time (Score 0) 330

Perhaps you already know this, but Bitcoin cannot be used in a fractional reserve system, simply because banks can't magically create more - the supply is fixed. Sure, they could say they'd lend you 300 bitcoins for your house, while only having 30 in their system, but they wouldn't have legitimate keys and you couldn't transfer them to the seller.

Comment Re:Tame and lame (Score 1) 692

The culture of any group is the combined 'agreement' of behaviour of the individuals. Place a random group of people together and they will develop a culture. Add one more person to the mix and they will both influence, and have to incorporate, the existing culture. You can't legislate this away.

This is the paradox of professionalism, which is supposed to be about focusing purely on work and, if you will, maintaining a culture of ignoring cultural differences. However, groups that share a similar culture (especially if it is natural and less forced) are far more cohesive and productive, so management holds team-building events. People also naturally want to form groups, so they go out for drinks and talk about their lives. All technically unprofessional.

Comment Re:Creepy (Score 1) 1034

Hypothetical, you know you are the victim of mistaken identity, and that the real culprit will have cleaned up the evidence by the time your lawyer arrives. Do you tell the police now or clam up until it's too late to easily clear your name?

There's also (ironically) a prisoner's dilemma here. A world where law-abiding citizens overwhelmingly try to help the police makes it much safer for the wrongfully detained. Police attitudes would be different and you'd get some benefit of the doubt.

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