Forgot your password?
typodupeerror
The Almighty Buck

Journal: The information inequality.

Journal by epSos-de
The information inequality is a basic concept in price building. The people who know the real value, get the best price. Others have to guess and are often tricked, because they have no information about the product or value or competition or alternatives, etc.

In case of Money, the information inequality is in favor of early adopters or anyone who adopts it before the others. It is not very fair to the people who have no chance to get it for cheap as it was the case of 2009, when none of us got it for almost free at that time.

The information is also in favor of the coders, who understand the algorithm to the last bit. Anyway, as of now I see Money as a very exotic animal. It is money, it is investment and it is like stocks at the same time. We have never seen something like this in history before.

The use of Money as money and as investment is very compelling. It is not going to replace real money as of now, because the transaction limit of the network is lower than the number of the daily transactions of the world. It can act as an investment or as a channel for large transactions for people who do not trust banks to do it better.

The daily transaction limit is very interesting to ask about, when you talk to people about Money. They always claim that Money is as useful as traditional money, but why does it have a limited number of transactions in the system ???

In order to know what Moneys will be, we have to look at the people who were pushing them from the start. The developers of the software and the earliest Money services are hoarding it like crazy, they start new services. Open shops that sell goods for cheap, accept Moneys and force people to put money into it.

The mid-level shadow market is going crazy on the coins, because they finally can do business without washing the transfers. The financial investors doing a lot of pump an dump action and hoard the coins too. The market is as crazy as it can be. The value keeps jumping.

Others invent alternative coins and sell them for Moneys, just to get the Moneys for free. There is a lot of good stuff and there is a lot of scam, because everybody is smelling money.

In the end, Money is changing the world and has brought the ripple system to life, which will probably be better for mundane transactions of favors between people, who do not want to induce anything capitalistic into their real world relationships. Money has created a new hope for people who want to reinvent the world. As same as it was with the Internet at the start.

Money wanted to destroy money and banks, but it created an even better money for the banks who can use it too and even better than traditional money. Look up time based contracts that are part of the Money system. The ripple system is the answer to replacing money for poor people, Money is not.
The Almighty Buck

Journal: Money is a great bubble of hour time.

Journal by epSos-de

Money is a great bubble of hour time.

I have looked at it 6 month after they started, but never believed that the early investors would convince enough people to invest into it. Yes, I do regret that I did not buy, but feel cleaner to stay out of the scam that will bring unequal money-access to the masses of people who never bothered to understand monetary dynamics.

It will be horrible, when people buy 1 Money for 100 dollars and find themselves broke after no one wants or can afford to invest anymore.

Yes, Money works and is safe for 1 day, but the build-in injustice into the value of it is just not as clean as AUD, EURO or even USD. It is very bad that the future investors will have very unequal access to Moneys that are supposed to be good for daily business.

Moneys have wealth, age and information in-equality build-into them. It is going to be in the history records for a massive delusion that the very smart people participated in.

I feel very sad that the gaming industry is participating in this, because they help to give more credit to Money. They should at least fork the open source code of Money and create one of their own, but with a more softer algorithm of deflation and monetary supply.

Lord of the Rings

Journal: Gandalf in the car wash

Journal by epSos-de
I used my Gimp pimp force and made this: Gandalf in the car wash.

The original drawing was by a math teacher in high school, who loved to tell a story about how, before he handed out the final exam for the highest level calc class in the school, he stood at the front, raised the exams above his head, and shouted "YOU SHALL NOT PASS!"

Needless to say he scared the shit out of a few people.

Crime

Journal: Getty Images is stealing Creative Commons pictures.

Journal by epSos-de

Getty Images, Inc. is a stock photo agency, based in Seattle, Washington, United States. It is a supplier of stock images for business and consumers with an archive of more than 80 million still images and illustrations and more than 50,000 hours of film footage. Mark Getty is the company's founder. Getty Images caused controversy for its aggressive pursuit of copyright enforcement on behalf of its photographers.

In reality Getty Images is stealing rights from photographers and publishers. Almost all of the pictures of epSos.de on Flickr were published under the Creative Commons license. Getty Images is licensing pictures from epSos.de through the Flickr account. After licensing the images they change the copyright from free to use to all rights reserved. It is a digital type of theft of free pictures.

The stolen picture is here:
www.flickr.com/photos/epsos/5394616925/

Flickr and Getty Images made and internal agreement to change copy rights. As a publisher on Flickr, epSos.de can not do anything to stop them from changing the license of an image. Getty Images can not have the rights of an author, because they are licensing the images themselves. They also can not have exclusive rights, because the right of an author is protected above the rights of the publishers and agencies.

The screen-shot of the digital theft is here:
http://www.flickr.com/photos/epsos/8138893914/

Getty Images is stealing the freedom away, because they are true fellows of the cut throat capitalism. It is an evil abuse and a clear scam in the world of stock license photography.

Thank you for sharing this story with your friends !

The Almighty Buck

Journal: Money again 1

Journal by epSos-de

Slashdot is following the Money development very closely.

I feel that the technology oriented people are too crazy over this new monetary system. I also feel that the people who speculated on the forex markets think that the Money system is in any way different. As of today, the Money value is very dependent on the exchange rates. There is no real way to translate Moneys into bricks, cars or flights.

Even, if the internal value of the Moneys is supposed to be stable, the external value is not protected against speculation.

The other thing is the fairness of the system. The early adopters and the early Money millionaires are going to be very rich at the expense of other people. This is not good. There are only 21 million of planned Moneys. There is no way to make more Moneys, than the one who got the first million.

Income and wealth disparity is build into the system of Money. I have no idea how this is different from regular capitalism.

Passwords are implemented as a result of insecurity.

Working...