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Messages - Travis Patron

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Politics & Society / The Technologist Looks at Social Phenomena
« on: March 29, 2017, 04:15:31 PM »
The state of bewilderment and sense of futility that hang like a pall over the peoples of Christendom are commonly laid to the Great War and the strange peace, conceived in terms of mutual defeat, that marked its provisional close. These events are viewed as the immediate causal circumstances that gave rise alike to the decade of golden opportunities and its collapse in the relentless retreat of `values' that continue to march past day after day in columns of three--`high,' `low,' `close.'

But, as everyone knows, there were more remote events out of which the Great War and the unstable peace unfolded. And so, historians, statesmen, philosophers, economists, bankers, business men, and politicians explore the background in search of the `fundamental' causes which they discuss in conflicting accounts of their explorations. Thus we are buffeted by events and by currents of opinion which bewilder and confuse.

Read The Full Paper

Bitcoin / Visions Of A Techno-Levithian
« on: March 29, 2017, 04:13:04 PM »
What has been introduced to the world is a method to create decentralised peer-validated time-stamped ledgers. That is a fancy way of saying it is a method for bypassing the use of centralised officials in recording stuff. Such officials are pervasive in society, from a bank that records electronic transactions between me and my landlord, to patent officers that record the date of new innovations, to parliamentary registers noting the passing of new legislative acts.

Read The Full Article

Ethereum / Resource For Ethereum ICOs
« on: March 16, 2017, 09:04:29 AM »
I came across a great resource for listing initial cryptocurrency offerings in the ethereum industry:

ICO Calendar

Introduce Yourself / Re: Hey there Fellow Diginomics Insiders!
« on: February 08, 2017, 01:28:09 AM »
Great to have you here Henry and welcome to Insider!

Introduce Yourself / Re: Hello, from Compumatrix...
« on: February 08, 2017, 01:27:31 AM »
Nice to see you around Kris.

Cool profile picture too Henry!

Money / Re: On the practical defintion of Ideal Money
« on: December 30, 2016, 10:37:23 PM »
I think the idea of gold retaining its value describes its usefullness for purchasing general goods and services.
Now this doesn't speak to the reason WHY gold would retain its value tho, but it does suggest that there is a retention of value in relation to a basket of good/commodities etc. 

Gold will retain some semblance of value until there are no people left who perceive it as valuable - much the same can be said of any other form of money. It seems money gets its valuable from the "energy perception" of its users.

This is why bitcoin will continue to stabilize and become more stable than all fiat currencies - the method in which the money supply is regulated.
Now this is where we have to be careful and I think we can introduce words and have caution towards their shared meaning.

bitcoin will "stabilize" means different things if we are thinking of "price" or "value" right?  What does it mean to be stable in price vs stable in value?  What does it mean to be stable in value (ie in relation to what?)?

In regard to fiat, most fiat is targeted at a certain inflation rate, targeting a purchasing power, and allegedly determining its value.

So fiat COULD be used to target stability like bitcoin, in the supply of money sense, so we can think of the relationship between the competition of all of these currencies and their policies (ie if bitcoin gains popularity, central banks might not want to continue to devalue the currencies they are responsible for)

Do we see this could play out, that the quality of fiat might improve?

On your first point, yes I agree that we must be careful when comparing price vs value. Value is subjective and different for every consumer. Price however, is explicit and determined by the seller.

In terms of fiat improving, we must understand that there are many different streams of fiat money in the world. Some may improve, most I think will not.

It seems in this day and age, with the negative interest rates we are seeing, central banks are losing their ability to manage the money supply in ways they did so previously.

I no longer pay much attention to fiat currenies outside of the effect they will have on bitcoin and other digital currencies.

Money / Re: On the practical defintion of Ideal Money
« on: December 22, 2016, 11:30:10 AM »
I think the idea of gold retaining its value describes its usefullness for purchasing general goods and services.

For example, one ounce of gold will buy roughly the same amount of food at the grocery store today. However, we see that the prices (denominated in fiat dollars) have skyrocketed. Fiat certainly cannot buy the same amount of goods and services it once did, but gold stands strong. This is why we say it has remained relatively stable.

As for the challenge of creating stability, it comes down to the way the money supply is regulated. With fiat, the money supply is regulated quite poorly. With bitcoin, the money supply is regulated by an self-adjusting algorihym and supply cap at 21 million.

This is why bitcoin will continue to stabilize and become more stable than all fiat currencies - the method in which the money supply is regulated.

Introduce Yourself / Re: Hello Trevis and every one here
« on: December 18, 2016, 06:53:48 AM »
I am a new trader in Cryptocurrency and looking forward to learn something new here.

Hello Desi and welcome to the forum.

I would be interested in learning what cryptocurrencies you are currently trading.

Introduce Yourself / Re: Good To Be Here
« on: July 25, 2016, 09:36:18 AM »
Hi guys and thank you to Travis for inviting me on here.

I am interested in learning more about digital currency and bitcoin and this looks like the place to do it.

Hi Yoshi and welcome to the forum.

Money / Animal Spirits Of The National Economy
« on: July 25, 2016, 09:33:15 AM »
"Animal spirits is the term John Maynard Keynes used in his 1936 book The General Theory of Employment, Interest and Money to describe the instincts, proclivities and emotions that ostensibly influence and guide human behavior, and which can be measured in terms of, for example, consumer confidence."


When a currency loses its trust, it loses its value. When people do not trust something, it inherently loses its perceived value from that person and indirectly, the value attributed to everyone else. Therefore, when people come to mistrust a currency, the financial system which it gives life to, is in risk of collapse. When the citizens of any nation no longer have reason to trust the issuing authority the animal spirit dies.

Introduce Yourself / Re: Hi Everyone
« on: July 24, 2016, 04:56:01 PM »
Hi Everyone,

I am a professional business coach with content on the breadth of financial markets and currency.

I found the site through the industry blogs and am eager to get involved.
Hi Lupul and welcome!

Introduce Yourself / Re: Hello, from Compumatrix...
« on: July 24, 2016, 04:55:39 PM »
Compumatrix is a self-managed online trading platform which allows ordinary individuals to earn online with the Compuceeds virtual currency, Bitcoin, and other virtual currencies!

Hi Kris,

Great to have you here, welcome!

Bitcoin / Is Bitcoin A Cult?
« on: July 24, 2016, 03:37:09 PM »
In society today, when we hear the word cult, the hair on the back of our neck stands up and our ears cringe. We quickly want to change the subject because of how negative a connotation the word cult carries with it. Why is this so? How can a word in and of itself be so detested and shunned from our lexicon? Let us explore the word cult.

The word culture comes from the root word cult, and describes a collection of human capacity in the pursuit of betterment for the individual and the whole. Culture is central to the way we view, experience, and engage with all aspects of our lives and the world around us. Thus, even our definitions of culture are shaped by the historical, political, social, and cultural contexts in which we live. (Sorrells, 2013)
More narrowly, the word cult describes a social order which carries deviant beliefs, that is, a group of individuals who operate from a set of practices which violate the conventionally dominant mindset of the surrounding culture. A cult establishes new social norms and practices to operate from, and therefore is seen as deviant until these new social norms are adopted as the dominant belief system. Once this saturation occurs, anything which violates these beliefs is then seen as the new cult. A cult in and of itself is neither good nor evil, but a social order that defies conventionally accepted social order.
Let us begin our analysis with three basic assumptions of a cult:

  • Holds socially deviant beliefs
  • Holds regular, frequent ritual practices
  • Holds their founder as the ideological realization of their socially deviant beliefs

Let us apply this framework to an existing culture: The United States of America.

Do the American people abide by socially deviant beliefs? At the time of its founding, America was based on the idea that if you’re willing to work hard, success is available -- life, liberty, and the pursuit of happiness above all things. Americans subscribe religiously to the notion that it represents the “Land of Opportunity” and that anyone can realize the “American Dream”. This is clearly seen when America is the most overworked culture is the world. At a time when the dominantly held belief was to serve the greater good of the British Empire, these ideas in the 18th century were indeed deviant.

Do the American people engage in regular ritual practices? Every February of the year, Americans drop whatever it was they were doing and gather around to watch the SuperBowl. Not necessarily because of their love for the sport of football, but because it is the American thing to do. Do not get in the way of an American and their SuperBowl time. The SuperBowl is one of the largest ritual practices of a culture on the planet, and it reinforces the beliefs that the social order was founded upon. It draws in an audience from around the world and sensationalizes commercialism and competitiveness. The SuperBowl does indeed represent an American ritual tradition.

Do the American people hold their founders as the ideological realization of their cultural beliefs? The founding fathers of America --  John Adams, Benjamin Franklin, Alexander Hamilton, John Jay, Thomas Jefferson, James Madison, and George Washington – are held as the epiphany of the belief system which the entire culture is founded upon.

Is America then a cult?

Consider a group of 100 people. 99 of those people are involved with the cult while one person has a different set of beliefs entirely. Would the 99 people of the cult describe themselves as cultists? Or would they view the outsider as having something fundamentally wrong with them and an inferior set of beliefs?

The only criteria to effectively judge a cult by then, is if their belief systems help improve the lives of individuals and the whole. A cult in itself is neither good nor evil, but a social order with deviant beliefs.
The United States of America indeed started as a sort of cult. It still holds deviant beliefs, has ritual traditions, and has the ideology of their ‘father figures’. Only now, it is one which has reached a critical mass where its belief system has become the new social norm. Its belief system is no longer deviant and therefore, everything which violates its norms is the new cult.

So then is bitcoin a cult?

Does the bitcoin community hold deviant beliefs? Anyone in the bitcoin community knows this to be plainly true. There is an underlying, religiously abided to belief that we can create a system using the decentralization potential of bitcoin to build a better world. There also seems to be a deep loathing of the current banking system.

Does the bitcoin community engage in ritual practices? Regularly, and as a scheduled event, the bitcoin community braces itself for a readjustment in the difficulty of the mining reward. The block reward halving represents a ritual tradition within the bitcoin community. Every time the compensation per block of bitcoin is halved, the beliefs of the culture (that of scientific innovation and disruptive competition) are reinforced upon the subscribers.

Does the bitcoin community hold their founder as a sort of religiously actualized father figure? Without a doubt Satoshi Nakamoto is held as the realization of the underlying principles engrained into the bitcoin culture. Satoshi Nakamoto is the oracle upon which the concept of bitcoin was created. It is most interesting to note, that Satoshi has no personal identification and therefore, indirectly upholds the cultural belief of anonymity.

This brings us back to our original question: is bitcoin a cult? To which, the answer is a resounding, yes!

The only question which remains is when it will reach a critical mass and its socially deviant beliefs become the new norm. The bitcoin industry attracts some of the most intelligent and ambitious people in the world. It has the potential to improve the lives of, not just millions, but billions of people!

And that is indeed a worthwhile pursuit.

Bitcoin / Bitcoin Symbol Snubbed For Unicode Inclusion
« on: July 24, 2016, 11:56:59 AM »
"International standards organizations have agreed to only include Unicode-accepted symbols to be given their own fonts and keyboards buttons. For a currency symbol to be left out of Unicode, it means that no one has a way to display prices properly on their screen for items priced in that currency. It is hard to imagine a more necessary standardization for Bitcoin to obtain.

Last October, Bitcoiner Ken Shirriff submitted the classic B symbol with two vertical lines through it as the Unicode symbol for the bitcoin currency and was told that it had been accepted. One month to the day after his submission, Adobe employee and Unicode representative Ken Lunde tweeted that Shirriff’s application had been accepted:"

Read The Full Article

Introduce Yourself / Re: Entering Diginomics As A New Member
« on: July 24, 2016, 11:39:18 AM »
It is exciting to be here!

I joined the mailing list and was invited by Travis. I hope to learn more about the digital economy and have much like the content on the site so far.

Hi Che, welcome to Diginomics. This platform is dedicated to news and analysis in the digital currency industry.

We are glad to have you!

Introduce Yourself / Re: Hello Diginomics
« on: July 24, 2016, 11:38:40 AM »
I am a student in Germany studying economics and financial markets. I accidentally came across the site and would like to network with others on bitcoin and ethereum.

Thank you.

Hi Li, good to have you here!

Politics & Society / The Internet of No Things
« on: July 06, 2016, 12:10:46 PM »
"There is no point in owning anything, in fact ownership might become just a luxury. Instead of wanting to own things we want to own data. Data that concerns us and concerns others. Data might even replace money as the medium of value."
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Ethereum / Trezor Hardware Wallet Adding Ethereum Support
« on: May 18, 2016, 12:51:25 PM »
Check out the source code just released on GitHub:

“You can bet that if we had followed the New York Bitlicense and were taking personal, private information of every single customer that was on our website, all of that personal and private information would now be all over the dark web.”

Read The Full Article

Ethereum / Chiefless Company Rakes In More Than $100 Million
« on: May 16, 2016, 12:19:11 PM »
Article is currently behind a paywall. Would be great if someone could post the full story.

"Can a company run itself without executives or managers or a board of directors? One of the more radical experiments in technology aims to find out."

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