Reform the judiciary - reform the country? Tales from recent history.

Yeah, that place out 'there'. Anything not really Cambodia related should go here.
eriksank
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Re: Reform the judiciary - reform the country? Tales from recent history.

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juansweetpotato wrote: Fri Jun 02, 2017 6:43 pmIf only I had purchased drugs from Silk Road, I'd probably have a nice stash of bitcoins now worth a fair bit.
The whole process has just started. Crypto currencies have a market cap of $80 billion. There are $75 trillion of digital fiat money around. There is no reason any longer for digital fiat money such as dollars or euros to exist. These things are inferior technology. Hence, $75 trillion of fiat will inevitably move into crypto, of which the coins will have to become 950 times worth what they are today, to accommodate the entire demand for digital money. Dollars in a bank account will rather sooner than later be a thing of the past.
juansweetpotato wrote: Fri Jun 02, 2017 6:43 pmDo you think there are mostly young people who have bought crypto currencies?
No. The first ones to dive into the field were -- not necessarily young -- mathematicians, cryptographers, programmers, and so on. If you have a reasonable grasp of number theory, especially modular algebra, it is much easier to see the light.

Furthermore, mathematicians had been pushing in this direction for decades. Satoshi Nakamoto did not invent or discover anything new. Satoshi just carefully recombined existing theories and then made a new attempt. In fact, given the long history of failed attempts, it took years before it became clear that this attempt was really going to work. For example, "Proof of Work" (PoW) is old stuff:

Hashcash is a proof-of-work system used to limit email spam and denial-of-service attacks, and more recently has become known for its use in bitcoin (and other cryptocurrencies) as part of the mining algorithm. Hashcash was proposed in March 1997 by Adam Back.

Elliptic curve cryptography is also relatively old stuff:

The use of elliptic curves in cryptography was suggested independently by Neal Koblitz and Victor S. Miller in 1985. Elliptic curve cryptography algorithms entered wide use in 2004 to 2005.

Mathematics do not really "get old".

The leading programs for computer algebra are still maxima (free/open-source) and mathematica (commercial), both successor versions of macsyma: The project was initiated in July 1968 by Carl Engelman, William A. Martin and Joel Moses.

In fact, it is the other way around. If it is completely new, then it is probably complete sh*t. For example, Microsoft Windows was indeed brand new when Microsoft originally published it, ignoring decades of experience and improvements in operating systems. If something is truly brand new in this field, then it is usually inspired by ignorance.
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juansweetpotato
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Re: Reform the judiciary - reform the country? Tales from recent history.

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eriksank wrote: Fri Jun 02, 2017 7:13 pm
juansweetpotato wrote: Fri Jun 02, 2017 6:43 pmIf only I had purchased drugs from Silk Road, I'd probably have a nice stash of bitcoins now worth a fair bit.
The whole process has just started. Crypto currencies have a market cap of $80 billion. There are $75 trillion of digital fiat money around. There is no reason any longer for digital fiat money such as dollars or euros to exist. These things are inferior technology. Hence, $75 trillion of fiat will inevitably move into crypto, of which the coins will have to become 950 times worth what they are today, to accommodate the entire demand for digital money. Dollars in a bank account will rather sooner than later be a thing of the past.
juansweetpotato wrote: Fri Jun 02, 2017 6:43 pmDo you think there are mostly young people who have bought crypto currencies?
No. The first ones to dive into the field were -- not necessarily young -- mathematicians, cryptographers, programmers, and so on. If you have a reasonable grasp of number theory, especially modular algebra, it is much easier to see the light.

Furthermore, mathematicians had been pushing in this direction for decades. Satoshi Nakamoto did not invent or discover anything new. Satoshi just carefully recombined existing theories and then made a new attempt. In fact, given the long history of failed attempts, it took years before it became clear that this attempt was really going to work. For example, "Proof of Work" (PoW) is old stuff:

Hashcash is a proof-of-work system used to limit email spam and denial-of-service attacks, and more recently has become known for its use in bitcoin (and other cryptocurrencies) as part of the mining algorithm. Hashcash was proposed in March 1997 by Adam Back.

Elliptic curve cryptography is also relatively old stuff:

The use of elliptic curves in cryptography was suggested independently by Neal Koblitz and Victor S. Miller in 1985. Elliptic curve cryptography algorithms entered wide use in 2004 to 2005.

Mathematics do not really "get old".

The leading programs for computer algebra are still maxima (free/open-source) and mathematica (commercial), both successor versions of macsyma: The project was initiated in July 1968 by Carl Engelman, William A. Martin and Joel Moses.

In fact, it is the other way around. If it is completely new, then it is probably complete sh*t. For example, Microsoft Windows was indeed brand new when Microsoft originally published it, ignoring decades of experience and improvements in operating systems. If something is truly brand new in this field, then it is usually inspired by ignorance.
Sounds very much like you're adivising me to put a % of my savings into one of the bit coins. Are there really no dodgey regimes or facist dicks I would in any way be supporting?
No negatives apart from security and trying to work out what I spend all the profits on?
"Can you spare some cutter for an old man?"
eriksank
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Re: Reform the judiciary - reform the country? Tales from recent history.

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juansweetpotato wrote: Fri Jun 02, 2017 7:46 pmSounds very much like you're adivising me ...
This aforementioned post is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation. This post is provided with the understanding that with respect to the material provided herein (i) the poster is not acting in a fiduciary or advisory capacity under any contract with you, or any applicable law or regulation, (ii) that you will make your own independent decision with respect to any course of action in connection herewith, as to whether such course of action is appropriate or proper based on your own judgment and your specific circumstances and objectives, and (iii) that you are capable of understanding and assessing the merits of a course of action and evaluating investment risks independently. The poster does not purport to and does not, in any fashion, provide tax, accounting, actuarial, recordkeeping, legal, broker/dealer or any related services. You should consult your advisors with respect to these areas and the material presented herein. You may not rely on the material contained herein. The poster shall not have any liability for any damages of any kind whatsoever relating to this material.
juansweetpotato wrote: Fri Jun 02, 2017 7:46 pmNo negatives apart from security and trying to work out what I spend all the profits on?
Bitcoin and the other altcoins are very volatile, even though the trend has generally been upwards. This means that you can buy into bitcoin now, and easily lose 20% of your investment within one hour. From there on, it may take months before you are break even again. That is why most investors resort to a weekly buying program and take up to 6 months to establish the bitcoin position desired.
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Re: Reform the judiciary - reform the country? Tales from recent history.

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eriksank wrote: Fri Jun 02, 2017 8:00 pm
juansweetpotato wrote: Fri Jun 02, 2017 7:46 pmSounds very much like you're adivising me ...
This aforementioned post is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation. This post is provided with the understanding that with respect to the material provided herein (i) the poster is not acting in a fiduciary or advisory capacity under any contract with you, or any applicable law or regulation, (ii) that you will make your own independent decision with respect to any course of action in connection herewith, as to whether such course of action is appropriate or proper based on your own judgment and your specific circumstances and objectives, and (iii) that you are capable of understanding and assessing the merits of a course of action and evaluating investment risks independently. The poster does not purport to and does not, in any fashion, provide tax, accounting, actuarial, recordkeeping, legal, broker/dealer or any related services. You should consult your advisors with respect to these areas and the material presented herein. You may not rely on the material contained herein. The poster shall not have any liability for any damages of any kind whatsoever relating to this material.
juansweetpotato wrote: Fri Jun 02, 2017 7:46 pmNo negatives apart from security and trying to work out what I spend all the profits on?
Bitcoin and the other altcoins are very volatile, even though the trend has generally been upwards. This means that you can buy into bitcoin now, and easily lose 20% of your investment within one hour. From there on, it may take months before you are break even again. That is why most investors resort to a weekly buying program and take up to 6 months to establish the bitcoin position desired.
Wny do I think you just wrote that off the top off your head. :D
So small investments as one builds knowlege and trust. Sounds good advice.
"Can you spare some cutter for an old man?"
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