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* Posts by ST7

58 posts • joined 2 May 2013

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Brit telcos warn Scots that voting Yes could lead to HEFTY bills

ST7

All of your infrastructure...

So BT think that the prices they charge in a Brand New Country will be higher, I have to agree on the basis that they will own no assets in this new country.

There are no rules that say anybody owns anything because there are no rules, no trade agreements, no memberships of mutually beneficial/exclusive clubs, nothing.

The allocation of assets in a newly independent Scotland will be an issue for the people of Scotland alone (unless they are conquered by someone else).

I think that BT et al meant to say that prices for existing customers outside of Scotland will surely rise because the debt to asset ration of said companies will rise and so will interest rates and margin calls.

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Scottish independence: Will it really TEAR the HEART from IT firms?

ST7

Scotlands Last Chance

This is Scotlands last chance at independence, if the people vote no you can be sure that every last drop of oil and wisp of gas will be pumped out as fast as possible to stop them from trying again.

Devo Max (or whatever they call it this week) is a smokescreen, every important decision without thought for the people in the regions, will be taken in London (as it is now).

The Scots should have their own currency (initially 1 Scot for eack 10UKP).

It should be positive money, created by the Scottish Central Bank, not like the current UK version whereby the private banks create money as debt (inflating the currency but only after they have loaned it, thereby gaining first spender privilege)

They should institute a Land Value Tax to reverse the clearance, this would allow them to abolish corporation, income and inheritance taxes.

Private banks in Scotland should be full reserve and should operate as financial intermediaries (lending out depositors money like people think English banks work now, they don't).

There should be a National Bank that has a current account with real time transactions, no overdrafts or loans.

The National Bank should have a savings account that returns purchasing power equivalent only.

Only the National Bank should be guaranteed by the Central Bank.

The private banks can take deposits and lend at interest, caveat emptor.

As has been pointed out above a new country is a business opportunity, given stable and transparent regulation, business will thrive.

As for the share of the UK National Debt that should be shouldered by the Scots, how much Scottish oil and gas has already been hoovered up by London to spend on England ? Lets call it quits then.

A 'YES' win might rid us English of Cameron, Clegg and Milliband (although they would be replaced by other numpties who could be gotten rid of in the longer term), I for one could wish for no greater thing

I'm sure that 'No' will be announced the winner in a close run referendum but as Joe Stalin said

'The people who cast the votes don't decide an election, the people who count the votes do.'

They should have used the Blockchain

http://www.cryptocoinsnews.com/blockchain-voting-used-by-danish-political-party/

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Heavy VPN users are probably pirates, says BBC

ST7

Re: The BBC is probably right

The group W bench is getting a bit crowded with seven of us on here.

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ST7

The BBC is probably right

The vast majority of internet users are copyright pirates and there is only one solution to this problem and that is to abolish copyright completely.

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Robin Hood virus: Chinese hackers target nation's wealthy

ST7

Taxes

Robin Hood took taxes like the rest of the bandits but he targetted the rich and not the poor which is why he was/is a hero.

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Look out, world! Space Station satellite cannon has A MIND OF ITS OWN

ST7

Re: Nightmare at 20,000'

That gave me nightmares that one

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ST7

It's Alive

It's alive, I tell you ! It's alive !

And now it has guns !!

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Jony Ive: Apple iWatch will SCREW UP Switzerland's economy

ST7

Size does matter

Rolex is not listed but might be worth 20 - 30 bn dollars, Apple is worth nearly 600 bn dollars.

Although cooperation using swiss self winding to power iGadget and Rolex quality and pricing might keep apple as an iwant and drag Rolex etc. into the 21st cent.

I'm waiting for the ihat that uses the heat from my head as a power supply for my isee (like google glass but cooler/better/expensive)

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BBC: We're going to slip CODING into kids' TV

ST7

Cheap TV

The Beeb could send a crew down to follow a Code Club for a term, following what they do and how they achieve it, they could do pieces on Technocamps showing off their skills and learnng from each other.

Peer to Peer Reality TV that might encourage participation.

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'I think photographers get TOO MUCH copyright for their work'

ST7

Obligatory XKCD

'There's a whole raft of opinions on this'

'There are some strong arguments'

I'm interested in the question

"would the absence of a patent/copyright system encourage or stifle creativity/innovation ?"

Maybe Randall knows.

Pint for the links to papers etc.

local.droit.ulg.ac.be/sa/rida/file/2008/23.Selle.pdf

<http://www.ipwatchdog.com/2014/05/02/the-economic-case-for-strong-protection-for-intellectual-property/id=49376/>

<http://skeptics.stackexchange.com/questions/6647/do-patents-boost-innovation>

<https://www.techdirt.com/articles/20090617/1138185267.shtml>

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ST7

Rampant, It was convincing until 'Strong IP'

Read your history, IP is only enforced once vested interests have established themselves.

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ST7

Rampant - good points

You make some very good points, all of which should be subject to open and frank discussion.

I will take the liberty of responding in reverse order cuz I keep scrolling up and down. (surely someone has a patent on keeping track of argument)

Sigma. Nikon and Canon.

Two big players developed a (possibly unique and wholly innovative) new system, it probably took them years and cost many $.

Sigma (allegedly) ripped them off, except N & C had many years to develop their products and bring them to market, no doubt using the 'Nikon' or whatever brand to sell them, me as a professional photographer can't risk using some upstarts (Sigma) kit cuz my clients want to have the confidence that I know what I'm doing, they want Nikon or nothing. Sigma (whether they ripped off the tech or developed it independently) will always be at a disadvantage because they are second to market.

So holding a patent is not the advantage, commercialising it first with a reputable brand is.

Copyright isn't a con - I agree with that (surprisingly) I do question its usefulness, surely an album of Bailey prints is worth more if David signs each one individually in ink (or blood), is the unsigned one produced in the same printers worth less ? what about the one produced down the road, sold for half the price that doesn't have the 'official' stamp ? (where is the value, the print, the printer or the blood ?)

'I would have to recoup that (minus additional production costs) in a single sale.'

Isn't that how Van Gogh worked ?

Isn't it true that the 'unlicenced' copies (because he died a long time ago) and prints produced by TD&H maximise his popularity which is reflected in the desirability of an original, withou this popularity would his paintings be worth any more than £30

Would you have left the security of your job for the 'wild west' without copyright protection ? I don't know, would you still be subject to the lawnsprinkler if you hadn't. That is an individual decision.

Would you still be in business if the rules were changed ?

Before the rules were imposed (usually arbitrarily by a King in favour of an individual) there was a free for all yet commerce still thrived.

Sorry for the long post but copyright and patent is a big issue.

There are vested interests who wish to keep and stengthen IP

There are vested interests who like the status quo

There are vested interests who would like to weaken IP

There are vested interests who would like to abolish IP altogether

And there is someone who asks who really benefits from the IP system and where is the evidence.

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ST7

To the Mystery Thum Downer

I offer this

http://www.sciencemag.org/content/280/5364/698.full

show me yours

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ST7

VinceH - a fair point

(who is the mystery thumbs downer then ?)

I write software as well, I'm fairly sure that some of the assembler I write has been written before (and I've been doing it since the late 70's), just how many combinations of 0's and 1's can you get, jeez I just want the value on a pin.

Do you carve your software from raw logic, deep in the mine where no one has been before, where unique logic conditions are there to be found and utilised by only those who can grab that monopoly first ?

If you work for a company then they own all your output (even the stuff you do at home for fun), You work for yourself, you get to keep what you do plus all the stuff your employees create.

Give us a clue then, how much of your stuff has been used (without your permission) by others ?

How much of that stuff would have been used if the users had known that you could enforce payment ? How do you value the lost revenue ?

I'm glad that you have been in business for more than 25 years, I assume that you have worked bloody hard to make it the success that it is and that rather than relying on the one idea you had 25 years ago to pay your pension, you have continued to innovate and improve your output, if so you rightly deserve the rewards of that hard work.

I asked for evidence that copyright/patents encourage innovation/creativity/enterprise.

'I doubt I would have ever bothered' isn't evidence, in fact I think you would have persevered (and succeeded) whatever obstacles were put in your way.

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ST7

Oh Vince

A thumbs down is not evidence Vince

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ST7

I'm already in range

Ok VinceH,

I take it you are in favour of patents/copyright, fair enough.

Can you point me to any evidence that patents/copyright promotes invention/artistic achievement rather than stifling it.

Any evidence will do, just provide me a link or two.

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ST7

I missed the story about monkey photographer copyright discrimination but on the Apple animated sidewalls story I made a comment with this title

'Patents and Copyright should be scrapped (Trademarks are ok though)'

and gained 2 upvotes so there are at least 3 people who think the same.

If three people come onto the register and say that 'Patents and Copyright should be scrapped' we got ourselves a movement.

The Register anti-patent and copyright movement . . . and all you gotta do to join is to sing it the next time it comes around on the guitar.

(sorry Arlo)

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End of buttons? Apple looks to patent animating iPhone sidewalls

ST7

Patents and Copyright should be scrapped (Trademarks are ok though)

This is one example of why patents and copyright should be scrapped, they do not (as some people believe) protect the inventor so that he can reap the benefits of his new invention, they are soley to protect the interests of a select group at the expense of everyone else.

If you write a wonderful new book/piece of music (possibly using a new (non-derivative) character set or set of never before heard sounds) and you don't want anybody else to benefit then keep it to yourself.

If you invent a (non-derivative) new machine and you don't want anybody utilising your ideas, then keep it to yourself.

Will this put a dampner on any new stuff ?

No.

If I come up with something new then I have first user advantage, anybody I choose to share this idea with will be subject to contract of non-disclosure.

Most 'new' ideas are derivative and time dependent, if Edison hadn't invented the lightbulb when he did then someone else would have done (or allegedly did)

The USA got to be a world leader in innovation by ignoring GB patents, Japan did likewise, China also.

Once a country matures, vested interests move to ensure patents are upheld to stop newcomers utilising the advantages those interests used in the first place.

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Pay to play: The hidden cost of software defined everything

ST7

Warranty voided

If I have bought a 'scope then it is mine to do with as I wish however if I do something that is outside of the Ts&Cs of the supplier (such as opening it up) then I have no room for complaint if it doesn't work properly afterwards.

This includes changing some of the 1s and 0s in the memory.

That I could read a website where someone has done just that and do it to my own bit of kit is irrelevant.

One of the reasons why a manufacturer disallows 'unauthorised upgrading' of equipment is that of liability.

If I was in business I wouldn't home bake 'upgrades' , nor would I use any equipment in an 'unauthorised' manner, if someone dies because of a bit of kit that was used properly according to the manufacturers terms and conditions then I want the supplier/manufacturer to be held responsible.

If I blow myself up cuz I was tinkering with my own kit, that's my fault and I bear responsibility.

I used to work for a company where we sold conversion cables for our kit to be used with a variety of other devices.

We published the schematics of the cables so you could make your own if you wanted to, in the main engineers bought the ready made cables because they couldn't be arsed to roll their own and also they didn't want the liabilty if they messed up.

Homebrew people wouldn't buy the cables anyway (no loss there) and if we didn't publish proper spec then they would hack it themselves, possibly causing more support calls (more cost there))

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The Register to boldly go where no Vulture has gone before: The WEEKEND

ST7

More 'user' SPB stuff

More home HW hacks would be good (whatever happened to the robot lawnmower ?), especially if they have frikkin lasers.

You could start by doing an article on this guy (warning, it currently runs to 41 very long pages and takes more than a weekend to read it all), there is some serious power tool pron to exite the jaded (including doing things with angle grinders I'd never imagined such as using an angle grinder on wood, WTF!).

http://forum.woodenboat.com/showthread.php?166255-I-want-to-build-airplane-lifting-wheels-into-my-boat-Im-building-but-dont-know-how

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UK fuzz want PINCODES on ALL mobile phones

ST7

Its all b******s and we know it

The rise in 'phone crime' was due to insurance companies not paying out until a crime ref no. was provided, the fall is due to phones being categorised as 'household' items and not needing a crime ref no. to payout.

The 'Phone Crimes Unit' will be disbanded unless they can

a. show a rise in crimes.

or

b. they can lobby loud enough.

What we really need is a pin code in designer jeans (anybody remember them) to stop muggers leaving you standing there on Clapham High St. trouserless clutching your brick sized vodaphone.

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Secretive Apple's super-secret university is full of BULL chic – leakers

ST7

Re: Why is this an article?

I agree, MickyDees has a university in London (and very nice it is too), the canteen is a real McD's where they try out new lines, if they are popular then they get rolled out to the rest of the country.

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US Supremes just blew Aereo out of the water

ST7

Are recordings fungible ?

If my neighbor and I both record the same program at 9pm on tuesday, does it matter which copy either of us watches ?

It seems that this service allowed me to watch programs that I haven't recorded (but my neighbor has) which is where I would agree that it is a re-broadcast and indeed falls foul.

If they were to make me press the record button for each program that I want to watch and only allow me to watch what I had previously recorded (irrespective that they only keep one copy for all of the people who recorded it) then that would be a PVR in the cloud and should be allowed.

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Today's get-rich-quick scheme: Build your own bank

ST7

Money creation in the modern economy

Banks don't work like your economics text books told you.

'One common misconception is that banks act simply as intermediaries, lending out the deposits that savers place with them.'

'rather than banks lending out deposits that are placed with them, the act of lending creates deposits'

'In reality, neither are reserves a binding constraint on lending, nor does the central bank fix the amount of reserves that are available'

http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

Soveriegn Government finances don't work like household accounts either.

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British boffin tells Obama's science advisor: You're wrong on climate change

ST7

Perhaps it were the Sun wot dunnit

Interesting set of articles

http://joannenova.com.au/2014/06/big-news-part-i-historic-development-new-solar-climate-model-coming/

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Snowden shoots back: 'So you DO have my emails, after all'

ST7

Re: Backups?

One would have to assume he has copies of everything that crossed his desk and more from the first 'raisings of doubt' and rebuff to his final exit.

If you see him shopping in the supermarket again then please respectfully pass along my thanks and support, he is one very brave individual in a sea of cowards.

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ST7

Asking the wrong people

Of course the NSA can't find the emails, those at the top ordered them deleted. He should be asking GCHQ who were tasked with spying on Americans on their own soil to get around Constitutional sensitivities, GCHQ have a record.

Just like GCHQ have a record of all the transactions that went through the Tehran Strip Club.

Just like GCHQ have copies of the FIFA emails regarding the successful Qatari bid for the World Cup (including Swift transfer records)

Agency for Good/Agency for Evil, (AfGAfE), just what is the taxpayer benefit of these agencies since it is the taxpayer who pays the bill ?

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ST7

Matt Bryant

Matt

Fascism is Left Wing (the socialist melding of Corporatism and the State)

The vast majority of NSA employees are just part of the bureaucracy, they have no knowledge of what their employer is up to (although they are grateful for their mediocre paychecks). Those at the top have no idea what those at the coalface do for a living other than when they say 'can it do this' the answer is always, 'yes but it will need more funding'. (those at the top really like their big paychecks)

Those doing the actual work of Intelligence gathering are mightily pissed off that they are tasked with the grunt work of information gathering. (though their paychecks are nice, this isn't what they signed up for)

That is why Snowden left.

Information <> Intelligence

Information = Snooping (and that is un-constitutional as well as immoral)

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FBI floats $5 MEELLION bounty for alleged Chinese WMD purveyor

ST7

So Bankers will be jailed ?

“IEEPA makes it a crime to wilfully violate US sanctions on designated countries such as Iran. Individuals and companies who evade US sanctions and misuse our banking system to further their illegal activity not only undermine the integrity of our financial markets but also threaten US national security interests.”

As Eric Daniels was in charge of Lloyds when they were running the Tehran Strip Club can we expect to see him wearing an orange jump suit by this time tomorrow ?

No ?

The agreement not to prosecute wouldn't have anything to do with him agreeing to buy that barrel of donkey **** that was HBOS over a weekend without any due diligence just because the PM at the time asked him to ?

The Feds probably asked this guy to bail out GM again and he refused, now he has a price on his head.

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Quid-a-day Reg nosh posse chap fears for his waistline

ST7

Live Long and Prosper

A restricted calorie diet can make you live longer (if you are a mouse)

http://www.ncbi.nlm.nih.gov/pubmed/3958810

From the abstract

group 1) a nonpurified diet ad libitum (all you can eat when you want it)

group 6) 40 kcal/wk of the diet fed to groups 3 and 4 (approximately 65% restriction)

Mice from group 6 lived longest of all.

The longest lived 10% of mice from group 6 averaged 53.0 mo which, to our knowledge, exceeds reported values for any mice of any strain.

Beneficial influences on tumor patterns and on declines with age in T-lymphocyte proliferation were most striking in group 6.

Significant positive correlations between adult body weight and longevity occurred in groups 3-5 suggesting that increased metabolic efficiency may be related to longevity in restricted mice.

Mice from groups 3-6 ate approximately 30% more calories per gram of mouse over the life span than did mice from group 2.

These findings show the profound anti-aging effects of dietary restriction and provide new information for optimizing restriction regimes.

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EU: Let's cost financial traders $400m a day, because EVIL BANKERS. Right?

ST7

The problem with HFT seems to be frontrunning actual bids/asks

Rather than reduce the tick (increasing the spread) or implementing transaction taxes, how about reduce the frequency of the execution clock and execute trades received in parallel at the end of a clock cycle ?

Removing the ability to cancel a trade mid cycle would be a good idea as well, you bid and you buy, if you bought in error then you can sell on the next cycle.

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Mad Raspberry Pi boffins ripped out its BRAINS and SHRANK them for your pleasure

ST7

A bit like the SimmStick

Around 1994 "Antti Lukats, an Estonian"* came up with the idea of the SimmStick, here's some pictures

http://www.mcselec.com/index.php?option=com_content&task=view&id=22&Itemid=41

It made use of the 30 pin Simm format of PC memory modules at the time. (the pinouts were different)

I've still got a DT003 PSU board with a SIMM100 board with an Atmel AT90s8535 on it, in its day it was a well cool way of playing with the AVRs.

The advantage was that you could mix analog and digital MCUs with relays etc. using the base board as a bus.

*He was always referred to on forums as such, I don't know why.

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WIMPs wipe each other out in giant radiating spot at galaxy's centre

ST7

Re: What's 10,000 light years across and smells of gamma radiation?

It smells like napalm in the morning.

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'No representation without taxation!' urges venerable tech VC

ST7

1 $ 1 Vote is Great...

If your name is 'Benny the Buck' or 'Old Yeller'

Tom Perkins would be outvoted everyday of the week, how many dollars can Tom bring to the table, Old Yeller could double it (QE to infinity)

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'No, I CAN'T write code myself,' admits woman in charge of teaching our kids to code

ST7

Re: The Meritocracy IS The Problem

A link would be handy wouldn't it !

http://www.theguardian.com/politics/2001/jun/29/comment

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ST7

The Meritocracy IS The Problem

You need to read 'The Rise of the Meritocracy' by Michael Young.

Here is what Michael had to say about people (Tony Blair in particular) using the phrase he coined back in 1958

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POWER SOURCE that might END humanity's PROBLEMS: A step forward

ST7

First of all Brid-Aine Parnell,

'This would solve an awful lot of the human race's current issues.'

No it wouldn't.

If I discovered a cheap and abundant energy source today and published it to the world, the entire global economy would collapse tomorrow.

If my country discovered a cheap and abundant energy source today and sought to exploit it, my country would be bombed back to the stone age tomorrow.

(Dollar hegemony)

-------------

To the poster who said that if enough money was thrown at the problem (controllable fusion) then it could be achieved in short order.

How much money do you need ?

Mervyn King demonstrated, with a simple keypress, that he could conjure up 375 thousand million pounds, just like that.

Ben Bernanke creates 80 thousand million dollars every month (Janet Yellen will in all likelihood increase this rate)

Throwing money at the problem will not help (as money is only virtual), only throwing productivity at it will help

Average western production worker given all the tools available is probably reaching a leverage of > 4 to 1 however productivity per worker has peaked, GDP has continued to rise because this drop in per productive worker has been masked by increasing the no. of workers (the UK has been importing them), this cannot continue indefinitely.

Peak productivity per worker is reached around 30 years old, average age of UK worker is past that.

The question of can we achieve controllable fusion turns out to be not one of physics or even economics, it is a question of maths.

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Capita splashes £57.5m on Eye-of-Sauron car-park watchdog biz

ST7

Parking Eye - a bit disapointing

My other half couldn't get out of a Parking Eye monitored carpark whilst she was using my car (we are named drivers on each others cars as well as being insured to drive any car not belonging to us)

They only sent two demanding letters before giving up, for the amount they were demanding (it rises over time) I thought it would be worth at least three with the last one being in red.

Very amateurish and disapointing outfit

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The web needs globally backed, verifiable security standards – says Huawei

ST7

Huawie, GCHQ, BT21CN and the NSA

When the contract to manufacture 21CN hardware for BT was given to the Chinese, Huawie didn't know (or care) what backdoors were hardwired in, they had a spec and a price.

Later, BT discovered that the Chinese Gov had hacked Martlesham after 21CN had been running for some time, this meant that Chin.gov had the same access to the packet data that UK.gov and US.gov had hardware access to.

Queue UK/US.gov outrage over Chin.gov spying.

The UK and US governments think it is ok that they should spy on the most intimate details of their own citizens and are willing to compromise the data collected by outsourcing the manufacture of the data gathering devices to the lowest bidder.

They frighten you into paying up because of the bogeyman of 'terrorism' yet will only buy kit on the basis of the biggest kickback.

GCHQ and the NSA are corruption incarnate (BT is just a whore), they have 'NEVER' prevented a terrorist outrage and yet they manage to burn through billions of dollars of taxpayers money keeping themselves in gold plated tax free jobs.

Perhaps we should just close them down and spend the money on reducing child mortality in the grim bits of the world.

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Scientists to IPCC: YES, solar quiet spells like the one now looming CAN mean ICE AGES

ST7

Two Questions ??

If the atmosphere is warming (irrespective of cause) woudn't it also be expanding and would that expansion be measurable ? (ie will the playmonaut have to ascend to a higher altitude to reach space)

I understand the mechanisn of the greenhouse effect (greenhouse gas being more opaque to IR than plain air). Does CO2 laden air have the same transparency as plain air on incoming solar radiation ?

These are genuine questions that I hope someone can answer

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IPCC: Yes, humans are definitely behind all this global warming we aren't having

ST7

Re: Such a waste of time and paper.

Whilst you make valid points about habitat destruction and pollution, campaigning about family planning in Africa and Asia will do no good. They already practise family planning, they plan on having large families because lots of their children will die before they reach 5 years old and they need some surviving children to look after them when they get old.

If you want to reduce what you see as 'overpopulation' then providing clean drinking water, vaccinations against common childhood diseases and a rudimentary social safety net will reduce the propensity for large families within two generations.

Of course if you do that then where will you source the young productive people to provide for your old age.

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Bank man: System's down, let's have coffee. Oh SNAP, where's all the CASH?

ST7

Re: Banks???

http://en.wikipedia.org/wiki/Deposit_account

read the bit in Legal Framework (it is the same in the UK)

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'Symbolic' Grauniad drive-smash was not just a storage fail

ST7

Not even Snowden understands what he has stolen

Snowden thinks it is a civil liberties thing with Governments spying on their own people.

The security agencies have been slurping all data for years, not just personal but corporate.

That includes the banking system laundering money from drug dealers and terrorist regimes through the City and Wall St, where it originates and whose pockets it finally lands in.

Follow the money.

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British spooks seize tech from Snowden journo's boyfriend at airport

ST7

Re: Guys, it is about adding stuff to the tech, not copying it off.

Why bother ? It's much easier just hacking the Chinese who put the spyware into the original chips at source.

There is a war on (always has been) between security services,

It gets interesting (and more lethal for the locals) when the interminable internecine conflicts arise, these can only be solved by outside mediation (Good Friday)

Spooks will be Spooks.

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ST7

Why stop Miranda ?

They stopped him to verify that it was really Miranda and not someone else traveling on a genuine passport in the name of Miranda.

Six Israelis had genuine passports.

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First burger made of TEST-TUBE MEAT to be eaten on August 5

ST7
Thumb Up

Re: @TrevorP

Buy an old (circa 1960's) rotavator off ebay, they are great fun and are brilliant at tearing up the soil. Mine is a Clifford and weighs a ton, there is nothing more satisfying than running it over my allotment and plowing in the monster weeds. Mostly I grow potatoes so I can use the furrowing tool I made from an old metal shelf.

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Typical! Google's wonder-dongle is a solution looking for a problem

ST7

Re: DRM

"If the Chromecast could tap into the Play Store to stream purchased content, or even on a rental basis, it would be a winner."

Can it not do that right out of the box ?

I buy a movie on the playstore on my mobile, watch it in a chrome browser window and send the output to the chromecast for the kids to watch on TV whilst I do more important stuff like read the Reg.

(isn't that what it's for ?)

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US cops make 'first ever' Bitcoin seizure following house raid

ST7

Are BitCoins Currency ?

No, they are a tradeable commodity just like rice, beans, gold or dollars. The attribute that sets them apart from rice etc. is the ability to transfer them from one person to another without any physical contact.

I imagine the cops sold him some 'stuff' in exchange for some bitcoins, when he accepted physical delivery of the aforementioned 'stuff' they nicked him.

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Nicked unencrypted PC with 6,000 bank details lands council fat fine

ST7

Just Sack the Person at the Top

First time it happens and a CEO goes, all the others will think 'there but for the grace....', the second time it happens will be the last as proper security would be implemented across the board.

The Admiral Byng solution is the only way

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Spam and the Byzantine Empire: How Bitcoin tech REALLY works

ST7

I ain't Spartacus - with all due respect

I ain't Spartacus - with all due respect, you're wrong.

As the monopoly currency issuer a Government doesn't need to borrow any money in order to spend.

The fact that they do so has its roots in the gold standard (whereby a King had to have gold in his treasury in order to wage war)

The Bank of England was set up by a private group of wealthy men specifically for the purpose of financing, at interest, the Government of the day.

Today the BoE is wholly owned by the Government, any interest gained by the bank on loans made to the Government are returned to the Government in the form of BoE profits.

The Government spends money into existence and taxes it out of existence (net neutral)

The inflation that you speak of is coming from the private banking sector, they create money in the form of credit/debt (credit from the word credo meaning faith). The bank creates £100 (at todays value) which it lends to you, there is now £100 extra in circulation and so the currency is devalued, the interest you are charged covers both the risk of not getting it back plus the reduction in value (otherwise the interest rat would be the inflation rate)

eg. the bank lend you 100 units to purchase 100 carrots but the increase in the supply of units means that each carrot increases in price to 1.1 units, in order to pay back the bank you must give them 110 units plus the insurance premium.

All that is missing from BitCoin is a credible futures market (paradoxically, gambling on the future price of a commodity creates stability)

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