[148776] in cryptography@c2.net mail archive
Re: [Cryptography] On Security Architecture, The Panopticon,
daemon@ATHENA.MIT.EDU (James A. Donald)
Fri Dec 27 22:13:40 2013
X-Original-To: cryptography@metzdowd.com
Date: Sat, 28 Dec 2013 12:36:28 +1000
From: "James A. Donald" <jamesd@echeque.com>
To: cryptography@metzdowd.com
In-Reply-To: <52BD396A.2070104@iang.org>
Reply-To: jamesd@echeque.com
Errors-To: cryptography-bounces+crypto.discuss=bloom-picayune.mit.edu@metzdowd.com
On 2013-12-27 18:25, ianG wrote:
> Ponzis, pyramids and bubbles generally offer a better rate of return
> than is natural. They feed on this 'great rate of return' by using
> their customers to bring in more customers, which in the long run
> creates the great rate of return.
>
> They cannot go for ever up or even continue in operations. The limit is
> how many new customers can come in to pump up the value of the insiders,
> which is something that can be estimated.
>
> Bitcoin matches all these core requirements. As a symptom, also, there
> is often unrealistic hype surrounding these things.
Money is a bubble that never pops.
People who invest in gold or bitcoin are taking out insurance against
the equally worthless US dollar.
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