Comment Re:No-Fly List, TSA, nudeo scanners. it's all thea (Score 1) 248
That Act will go down in American history as the single, most damaging, assault on liberty in this country.
That Act will go down in American history as the single, most damaging, assault on liberty in this country.
In the end, a treaty is just words on paper. Russia clearly isn't honoring the treaty so it goes to line 6:
The Budapest Memorandum is not a treaty. In any case, the US has met it's obligations under the agreement.
Ukraine disarmed itself in 2006 at our urging, with the understanding that we would come to their aid if ever it were needed.
The only "aid" that the US is obligated to provide Ukraine under the Budapest Memorandum on Security Assurances is to seek UN Security Council action in the event that Ukraine is attacked (or threatened) with nuclear weapons.
The agreement is a one page document written in plain language. It's hard to imagine anyone who's read it would interpret it as you do.
Overall, I'm going to conclude these agencies are at least 40% incompetent.
That may be true generally, but unfortunately they appear to be 100% competent at at least one thing: cashing the blank check Congress has given them.
Yes, marketing is worse than government surveillance...
So a service provider gathering data on the way its customers use the service for marketing purposes (which the customer agreed to by contract) is worse than the government secretly surveilling its own citizens?
Nice!
It...but certainly Mt. Gox could have done it well before its collapse. People were using it as a bank.
Lemme get this straight, you're claiming that:
...have I got that right?
OK, then. I think I now have a much better idea of where you're coming from.
Cheers!
No, I used the on-site search, and missed that page. It says that FRB with Bitcoin is possible, which contradicts what you are saying.
Apparently you didn't bother to click through the links on that page (or read any of the threads on the forum) that express opposing viewpoints. Now, I don't really follow bitcoin that closely anymore, but the last I checked the matter was hardly settled.
But hey, if you can point to a real world example of an operational bitcoin bank practicing fractional reserve banking, I'd certainly be willing to reconsider my position. : )
Back to my example
Please, spare me. I can assure you that my professional credentials in the banking arena are...well, let's say they're above average.
They also used to have a role in safeguarding money, much less important with Bitcoin.
Off-topic, but you can't be serious. The total amount of stolen bitcoins compared to the total amount in circulation is staggering.
OK...did you find this page? Did you click the link on that page pointing to the debate on the topic here? Did you try searching Google using "fractional reserve" site:bitcointalk.org?
Derp. Welcome to America. As it's been this way since the days of Andrew Jackson.
How dare you try to lay our sorry state of affairs at the feet of President Jackson! Don't you realize what a fucked up country he inherited from John Quincy Adams?!? You've obviously been spending WAY to much time in your RWEC. (Right-Whig Echo Chamber)
Yeah, but does it do windows?
</ducks>
Nope. That's too much of a chore, boy.
This is fractional reserve banking. It works with any currency, as long as there's a way to lend it out.
Sorry, with bitcoin I'm afraid it's not that simple. At this point in the discussion, I'm not going to bother with writing out a treatise explaining my position. If you really want to understand the issues involved, I suggest you check the bitcoin wiki along with the many threads on the topic at bitcointalk.org.
Lending of those assets? Check.
[sigh]
Again, you seem to have a different definition than everyone else of what constitutes "lending". If individuals at MtGox were appropriating customer deposits, that's not a lending activity, that's a criminal activity. And it's still criminal even if they returned the BTC with interest.
Furthermore, at no time did MtGox sell or offer for sale any BTC loan products. If you're not making loans, you're not a bank by any generally accepted definition.
Sure sounds like it meets at least one public definition of fractional reserve banking.
...only if one subscribes to your ridiculous position that appropriating customer deposits is equivalent to lending. But please, continue making up new definitions for common words...it's quite entertaining. I'm sure you're a real hit at cocktail parties.
Cheers!
The moon is made of green cheese. -- John Heywood