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Comment: What if apples were oranges (Score 4, Interesting) 126

by random coward (#49091355) Attached to: Fedcoin Rising?
This whole article seems to be a discussion of "if apples where oranges."

He goes off the rails right from the beginning with his definition of money. He says money cannot be a store of value; when in fact that is one of the most important properties of money. It is from there were he misses why bitcoin is taking off somewhat. He should know this as he points out it is deflationary and thus a good store of value. So he completely misses why it is cryptographic, and why that matters. Talks about the fed controlling the exchange on the one hand yet talks of mining or the fed mining on the other, so he obviously doesn't understand that the mining is the how of the supply of bitcoin, nor that the idea of bitcoins is to work without a trusted third party, which he puts back in as the FED.

Without that cryptographic underpinning that is impossible if the FED controls supply what is left? The fed distributes signed serial numbers that they generate with their special random number generator? And at any time they could release a near infinite supply of them and crash the market. Think of the possibility to perfectly counterfeit FEDCOIN if someone hacked the FED's key!

This would surprise me if the FED actually did this. Not even they are this stupid.

Comment: Re:And no consequences? (Score 2) 223

by random coward (#48989271) Attached to: US Health Insurer Anthem Suffers Massive Data Breach
The data protection laws need to target the credit agencies. If Experian or Equifax had unlimited strict liability if they added a loan to your report that didn't belong to you they'd change what they allow which would in turn force the credit issuers to be sure to get real proof of identity, otherwise they lose all recourse in trying to get the debt payed back.

Comment: Credit reporting agencies are RICO (Score 2) 223

by random coward (#48989217) Attached to: US Health Insurer Anthem Suffers Massive Data Breach

The better way to fix this is to require strict liability to the Credit reporting agencies. If they put data in your credit report that is false, If they link you to debt that you actually didn't take out, then they have unlimited liability to damages to you plus statutory punitive damages.

The hell, if when they come and sell me credit protections services isn't extortion i don't know what is.
"Nice credit score you have. It would be a shame if someone stole your identity and messed that up so that we had bad info for you in our database. Pay us per month and we will ensure that doesn't happen"

When credit agencies actually start pushing banks and other creditors for ACTUAL proof that it was that person, then the whole industry will quit using SSN's as ID's, which they aren't.

Comment: Re:Glad to hear they were punished, but ... (Score 2) 179

by random coward (#48820933) Attached to: Marriot Back-Pedals On Wireless Blocking
Thing is that their provided Wifi was complete crap; their system was likely jamming itself. That is in fact how it got discovered. A guy tried to setup his own hotspot because the Marriot provided wifi wasn't working worth a tinkers dam. When he noticed his hotspot jammed he started calling shenanigans. The real lesson here is that if you create a good infrastructure and its not terribly expensive charge for the wifi they would have turned a profit and likely still be able to jam everyone else. But when your morons and cant run a decent network when you cross that line your going to get spanked because you offend so many people.

Comment: Re:Intelligent design beats evolution? (Score 1) 391

By a different definition to the one implied by religion, yes.

One is intelligence designed by biologicals or other machines. One is design by magical fairies and unicorns.

"Any sufficiently advanced technology is indistinguishable from magic."

Clarke's third law.

And you're berating religious people for not being able to distinguish advanced technology from magic?
Care to rethink this?

"Well, if you can't believe what you read in a comic book, what *can* you believe?!" -- Bullwinkle J. Moose