Category Archives: ethics

TALES FROM CRYPTO-WORLD: Bitcoin, New People’s Money or just a Sham.

 

As it is an engineering blog it is only appropriate to also include in it newest so-call financial engineering products and services especially when they are being peddled to broader audience and not just to specific IT/Fintech Astroturf.

One such product or rather concept is a concept of Bitcoin (moniker: BTC) that is being pushed as a form of digital crypto-money (cryptocurrency) supposedly with a novel/innovative 21st century characteristic namely: no bank or any concentrated dedicated intermediary needed.

Although you can read about Bitcoin in Wikipedia and still I encourage you to do so, you will find there a bunch of obfuscations, simplifications and lots of tautologies, Astroturf hype and particular interests, peddled there and elsewhere like on a the Bitcoin Foundation website [I will include some links later in the post] it is of utmost importance to cut through most of this promotional bullshit only misleading newcomers to the subject as to what primarily Bitcoin is all about and what and whose interest it really serves.

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THE AGE OF DISRUPTION.

disruption Capture-décran-2014-02-08-18.22.29The mainstream Media, business media as well blogosphere including the otherwise sane bloggers with uncanny prophetic exaltation welcome brand new cool thing, so-called “disruptive technologies” that are changing the world as we know it daily and even nightly as we sleep. A learned class of worshipers of the technological innovation as panacea to all economic and social ills grows louder and louder pushing us or rather bullying us into the new Age of Disruptive Innovation and out of the Age of Reason that apparently went out of fashion among world’s financial elites.

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ENGINEERING RENEWABLE DELUSIONS

renewable-energy-tax-breaks3When in the early fifties during one of the UNESCO sponsored conferences some voices from Europe and Asia began to raise previously unidentified issue, a threat of so-called demographic bomb with destructive potential exceeding that of thousands of nuclear weapons. A call for action was largely ignored by the world ruling elites basking in its economic success on the ruins of WWII and happily choking on smoke of their greatness. Proponents of urgent action argued that within several decades, the trajectory of exponential growth of the world population would have been unsupportable even by the entire world’s natural resources.

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DIVERSITY OF ONE

DiversityOne2In old good days when American working people were not allowed to be unhappy American government with tacit approval from power elites made sure that all were busy doing something that would make them unlikely to contemplate what was actually going on in their country, namely fusion of state with capital in unprecedented scale, effects we are experiencing now.

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GUILT OF GUILDS

medieval-construction-425x268When 1789 thousands of poor and angry Parisians stormed abhorrent prison of Bastille, symbol of totalitarian regime of King Louis XVI, they were not only demanding liberty, fraternity or death but also slew of reforms which would bring up-to-date archaic legal system into contemporary political and economic reality. One of those demands was to abolish trade, legal, medical and artisan guilds. But why French revolutionaries, would have supported such a move. Surprisingly, their argumentation and motivation seems to bear eerie similarity to today’s harsh critics of guilds and their role in modern society. So let’s examine what guilds are guilty of?

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THE SHALE GAME

Gas drilling and coal, southwest, Pa., Nov. 2010 084Game over. Almost ten years of hype soon will be over and buried together with billions of tons of contaminated mixture of water, chemicals and broken rocks responsible for devastation of countless communities and ecosystems throughout the US and the world. The bill for this misadventure is coming due while M.S.M propaganda proclaims: it’s OK, there is no problem, since US oil industry made countless billions over the years to weather price slump and cover expenses.

The problem is however, that over last decade and even before, no shale oil fracking companies, never ever, made a cent of profit from shale oil or gas, even at $120 per barrel and definitely not now. It was all Wall Street conceived, developed and driven, game of misleading and pretending, cruel game of illusion and fraud made possible by Feds deliberate ZIRP and QE+ money pump into casino-like, extremely speculative financial instruments, bordering to insanity.

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SMELL OF SILICON MADNESS

1__I greatly appreciate efforts of millions of hard-working down-to-earth American software engineers from Silicon Valley and elsewhere in the US who, with sweat of their brow, built backbone of world digital revolution in all fields of engineering. However, with heavy heart I must say that, as it has been clear for a while to everyone, except for bloated media gurus, and their sedated, gluttonous former revolutionary prophets of new digital age, that Silicon Valley has become serious or fatal impediment to further development of digital technology and software engineering. Similarly useless have become their ill-conceived, insane ideas of fake novelty, which only purpose nowadays is to obstruct, sleaze, slime, hype and expel odorous gases of their inventors’ digestive track before spatter us with their next creative destruction diarrhea.

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