Chicken and feta sausages with sweet corn fritters. Known to children as "pigs in a blanket".
May 27, 2015
May 26, 2015
Pick up girl at airport, procure nice bread/meat/cheese bits, acquire various friends, do dinner in the park. Walk home, followed for two blocks by:
Just another day.
May 23, 2015
The formula for Bitcoin inflation can be written as such:
Idt = Mdt / _M3 +C%dt
And in English:
Bitcoin inflation over an interval equals the mined coins over that interval divided by the average monetary mass during that interval plus the percent change over that interval.
And to further paraphrase, Bitcoin inflation is zero not because the mining rate is known in advance and priced in, but…
"Because it prices you in."
The mental change is a subtle perspective shift in theory but a distressingly large gap for the fiat mind to jump.
interlude. stare off into space and listen to some Sinatra.
Fiat economists have a terrific problem in the fiat state's stranglehold over the issuance of money and storage of gold. It is literally impossible for anyone to know how much money there is today, much less how much money there will be tomorrow. The trend, of course, only goes one way - once the government decides that it'll finance its operations by printing more money it cannot do anything else. Printing is vastly easier than actually collecting taxes, and what socialist organ is going to deliberately do the hard but correct thing in place of the easy thing?
Their contortions produce such amusing bits of pseudoscience as the "natural interest rate":
This natural rate refers to the real interest rate consistent with full employment of labor and capital resources. More specifically, it can be viewed as the rate of interest that would obtain if all prices and wages had adjusted so as to bring the level of economic activity to its full-employment level. The natural rate of interest can vary substantially over time, as it is driven by numerous factors such as the long-run potential growth rate of the economy, demographic composition of the population, desirability of saving on the part of households, perceived profitability of investment opportunities, government spending, and taxes.
(Negro, Giannoni, Cocci, Shahanaghi, Smith: "Why Are Interest Rates So Low?")
The frantic activity rests sneakily on a particular bad assumption: that all labor and capital should be fully employed. This assumption sits on a particularly bad foundation: that full employment of the labor market is either possible or desireable; and betrays the underlying fiat thinking: that capital should be "fully employed" seeking a return at all times.
The bad assumption comes from growing up inundated with a world's worth of socialist propaganda: "everyone is a special snowflake, deserving of food and water and internet access!" From experience, I must tell you that the sliver of useful activity floating atop the sea of everyone cannot possibly employ everyone. I'll readily grant that the world needs an infinity of floor sweepers and knob polishers, but as there is a practical infinity of those people already, their wages must of necessity approach zero.
On to the "full employment" of capital. This is related to the circular logic people employed by people who're entirely happy to slave under the USG 4's insane currency system: "inflation's fine ad expected - you just put your money into the market and then your dollars inflate along with everything else!" The reasoning misses entirely the largely ignored cognitive tax imposed by inflationary systems. Not that the world is or should be an easy place to exist, but scraping up food credits is difficult enough without having to worry that they're optimally allocated to the inflation-tracking buckets - or, as I said to a friend the other day: "It would be nice if once I extraced a dollar from the world, I didn't have to worry about it withering in my fist."
Putting capital to work is a damn difficult thing to pull off in the best of times. The adage holds that there can be no reward without risk and while that is assuredly true at least in the sense of managing opportunity cost when determining where to deploy cycles, but that's no justification for forcing everyone everywhere at all times to be constantly working to adjust their exposure to the interest rate in all of the myriad ways it crops up in a world where every producer must squeeze supplier costs down and eke prices up in order to simply outperform the returns they could procure indexing the market.
interlude, more Sinatra
Bitcoin cannot be inflated with any of the tools that the Great Satan is wont to use in its normal course of business. Should Lizard Hitler or Gila Stalin put the printing presses into fifth gear in hopes of getting their hands on as many coins as possible, they've but two options: make purchases directly or purchase and operate mining equipment.
In the first scenario, every successive purchase will push the price per Bitcoin up further and further, requiring that LH and GS print ever more fiat currencies to keep playing. Pursued recklessly, this will lead directly and inevitably to an inflationary spiral in their currency, and do precisely nothing to Bitcoin but make its holders fantastically wealthy (in fiat denominations).
In the second scenario, every successive round of hashpower deployed will slightly increase the speed at which coins can be milked from the system (in the short term), followed by a network-self-correction in the form of a difficulty increase making it more challenging to milk coins from the system. Furthermore, should one state engage in this behavior, they're all extremely likely to (rumor has it that this race is already on) as the dynamics of "sound money" are such that whoever's left holding the fiat bag after the land grab is going to have a hard time keeping their water mains running, much less their army in shoes.
Happily, in all imagineable scenarios, "Bitcoin prices you in". Sleep well, socialist state.
May 22, 2015
May 20, 2015
Let's start with some quotes:
Most people’s lives are nothing more than pointlessly frantic activity used as a psychological defense against their own impotence and fear.”
…here we are, spending time and money on cosmetics and pageantry to pretend that we are learning, to pretend that we are being measured, all the while slinging random neurochemicals based on a suspect but billable logic in the hope that something sticks and no one notices. Frantic activity as a defense against impotence. There is a term for that, but you can bet your career it won’t be on the test.
Hess is frantically fighting against– whom? Cyberbullies? Frat guys? Stand up comedians? What are the results she expects from this fight? The fight is a symptom of neurosis, frantic energy as a defense against impotence, frantic energy as a defense against change. "Why am I in the top 20% of intelligence but I'm running the register at a store whose products I can't afford?" Because trolls are preventing women from earning a living online? "So it's Reddit's fault!"
(Ballas, "Who Bullies the Bullies?")
The mistake is in thinking this has anything to do with the money. It's said that most at home traders fail, but this is incorrect: they fail at making money, but they are successful at feeling like a trader. That is the goal; the money is secondary, which is why they fail at making it.
(Ballas, "Who Can Know How Much Randi Zuckerberg Is Worth?")
Portland is a dog-friendly town to a fault. The locals won't yell at you for letting your dog romp around the park off leash, so much as they will frown and then get on Reddit and bitch impotently.
Portland is the passive-agressive-note-leaving capital of Cascadia. In my youth (l0l), I'd engage in the same kind of behavior – writing notes expressing my feelings about the various "injustices" visited upon me. Then I grew up, grew balls, and nowadays tell idiots precisely what to do to their faces. I considered pissing in a particularly poorly parked car's AC intakes yesterday, but was late to a dinner party (the car in question belonged without a doubt to one of the dipshits that stop by the local park for "Monday Funday" and leave broken bottles and needles and chocolate for myself and my dog to romp over).
On the topic of dogs, and to bring the conversation back around to my initial topic, please enjoy this example of the difference in behaviors between potent and impotent humans.
First, the impotent:
Someone goes through an unbelievable amount of effort to place these signs all over the neighborhood. They are hand-lettered, hand-assembled, and hand-emplaced. They do nothing but get squashed, ripped out, and occasionally attract bags of poop very carefully not deposited into garbage cans but left next to the signs. Classic frantic activity as a cover for impotence.
Contrast this frantic activity with the clever and effective approach of this other neighbor:
I can tell that this neighbor is not a drooling moron, as they've made a hypothesis as to why dog owners might not pick up the poop (no spare bag for the second shit), and put in place a mechanism that (you know, sort of) addresses the problem (a poo-bag dispenser). I bet that other neighbors are even filling the PVC up with more bags!
If you decide to get out in public and make a ruckus about a thing instead of doing something, you are the neutered worker drone whose world Bitcoin is here to shatter. If you've the intelligence to see feasible solutions to the actual problems in your life, and the will to bring your solutions about, La Serenissima has an endless list of things for you to do.
Please enjoy this photo of what happens when my dog eats rope: