When bitcoin was first proposed, I argued that the proposed algorithm failed to scale. Well, when getting started, scaling does not matter. Now, however, a bitcoin wallet is starting to cost substantial bandwidth and processing power. There are plans to address this, but I am underwhelmed by those plans. The proposed plans will make bitcoin more centralized, and will still have scaling issues. Seems to me that we need an algorithm where no one computer needs to keep a copy of …
Category: economics
Moldbug’s Liquidation
Moldbugs liquidation would be a Pareto improvement on the present government. Large numbers of people would be made better off, and no one would be made worse off. Once upon a time there was a man who was infested with parasites, that were gnawing his flesh and relieving themselves in his blood. The man said to the parasites: Why don’t you come out of me, and I will serve you a wonderful four course meal with wine and cheese, and …
Mestizos and National Wealth
Conservatives are fleeing the evil witch and horrible heretic Jason Richwine. Richwine pointed out what everyone knows, but no one can say: That mestizos are genetically low intelligence, and that importing a low intelligence underclass will cost Americans a lot of money, and that this underclass, even if, unlike blacks, they really want to assimilate, can never assimilate, and will forever resent their failure to assimilate, forever blaming it on racism. Richwine’s estimates were, however, very much on the low …
US economic decline
Supposing the official cpi to be true, US real GDP per capita has been growing at about 1% per year in recent years. Supposing the big mac index to be true, US real GDP per capita has been falling at about 1% per year in recent years. Motor vehicles per capita, according to world bank statistics, have been falling about 1% per year in recent years. Electricity consumption per capita, taking indexmundi figures for US electricity consumption, and world bank …
Stimulus
Byran Caplan assures us that progressives have the easy painless cure for unemployment, but somehow, due the pernicious influence of cruel heartless free marketers who just do not care about the unemployed, the government is just too right wing to apply the magic. The magic cure is, of course, to print more money. If it has not worked yet, obviously that proves we have not printed enough. Whosoever doubts this obviously does not care about the unemployed as deeply as …
Japan succeeds in inducing inflation
Every time Keynesianism fails, they say is evidence it was not done hard enough. In Japan, they decided that this time they really would do it hard enough. And it worked. Rapid inflation ensued. Employment and production did not.
Bitcoin as a speculative bet
Charting bitcoin, it looks good, if you are inclined to gamble on charts. The recent collapse from two hundred dollars tested support at the hundred dollar mark, found plenty of support around there. By and large, it is a good idea to buy at major support levels, since a speculative property is a lot more likely to go up than to break through the support level.  If it did not penetrate the support level for very long during the panic, …
Kermit Gosnell, partial birth abortion, and regulation
A major part of Kermit Gosnell’s business was late term abortions. The usual way to do a late term abortion is to induce childbirth, and then, as the baby’s head comes down the tubes, jab a steel straw into its head and suck out its brains with a powerful vacuum. This collapses the head, making the rest of the birth easy. However, because Gosnell was doing an abortion mill, doing as many abortions as possible as cheaply as possible with …
Bitches in Tech
The internet is buzzing with the Adria Richards dongle incident that demonstrates what everyone knows, but that until now no one could say, not even me: That women in the tech industry are frequently humorless, dangerous, threatening, difficult, unreasonable, and hard to work with. In a word, bitches. That women bring drama and soap opera to the workplace, and males are unable or unwilling to prevent them.
Soft Power
Modern leftism is a plot by some white males to use women and non whites to destroy other white males. Obama is president, but he does not know what some white male has written on his teleprompter until he reads it. Spandrell complains about a Chinese billionairess piously saying the the politically correct things about democracy.