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Comments

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Judge Rejects $324.5 Million Settlement For Tech Workers, Argues For More

SpankiMonki Uh oh... (268 comments)

Ah, the turning point in my life. I remember it clearly. It all started on September 7, 2001.

about two weeks ago
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40% Of People On Terror Watch List Have No Terrorist Ties

SpankiMonki Re:So 60% positive ? (256 comments)

Overall, I'm going to conclude these agencies are at least 40% incompetent.

That may be true generally, but unfortunately they appear to be 100% competent at at least one thing: cashing the blank check Congress has given them.

about two weeks ago
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Leaked Docs Offer Win 8 Tip: FinFisher Spyware Can't Tap Skype's Metro App

SpankiMonki Re:Irrelevant (74 comments)

Yes, marketing is worse than government surveillance...

So a service provider gathering data on the way its customers use the service for marketing purposes (which the customer agreed to by contract) is worse than the government secretly surveilling its own citizens?

Nice!

about two weeks ago
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US States Edge Toward Cryptocoin Regulation

SpankiMonki Re:What about my rights? (172 comments)

Look, if you've honestly put in the effort to research the issues and are satisfied with your conclusion that FRB is possible with bitcoin, than I guess we'll have to agree to disagree. But as I stated earlier, I'm not interested in taking the time to spell out my position. Additionally, I'm certainly not interested in digging up the various threads/posts/papers I've read over the past years in order to spoon-feed them to "some guy on the internet". I pointed you in a direction where you might come across some good arguments challenging your position; if you went down that road and remain unconvinced, then so be it.

It...but certainly Mt. Gox could have done it well before its collapse. People were using it as a bank.

Lemme get this straight, you're claiming that:

  • 1) because people had BTC on account with MtGox in order to facilitate trades, they were actually using MtGox as a bank
    2) MtGox could have started writing loans using its customer's BTC balances

...have I got that right?

OK, then. I think I now have a much better idea of where you're coming from.

Cheers!

about three weeks ago
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US States Edge Toward Cryptocoin Regulation

SpankiMonki Re:What about my rights? (172 comments)

No, I used the on-site search, and missed that page. It says that FRB with Bitcoin is possible, which contradicts what you are saying.

Apparently you didn't bother to click through the links on that page (or read any of the threads on the forum) that express opposing viewpoints. Now, I don't really follow bitcoin that closely anymore, but the last I checked the matter was hardly settled.

But hey, if you can point to a real world example of an operational bitcoin bank practicing fractional reserve banking, I'd certainly be willing to reconsider my position. : )

Back to my example

Please, spare me. I can assure you that my professional credentials in the banking arena are...well, let's say they're above average.

They also used to have a role in safeguarding money, much less important with Bitcoin.

Off-topic, but you can't be serious. The total amount of stolen bitcoins compared to the total amount in circulation is staggering.

about three weeks ago
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US States Edge Toward Cryptocoin Regulation

SpankiMonki Re:What about my rights? (172 comments)

OK...did you find this page? Did you click the link on that page pointing to the debate on the topic here? Did you try searching Google using "fractional reserve" site:bitcointalk.org?

about three weeks ago
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Journalist Sues NSA For Keeping Keith Alexander's Financial History Secret

SpankiMonki Re:If true. If. (200 comments)

Derp. Welcome to America. As it's been this way since the days of Andrew Jackson.

How dare you try to lay our sorry state of affairs at the feet of President Jackson! Don't you realize what a fucked up country he inherited from John Quincy Adams?!? You've obviously been spending WAY to much time in your RWEC. (Right-Whig Echo Chamber)

about three weeks ago
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Quiet Cooling With a Copper Foam Heatsink

SpankiMonki Re:Brillo-iant! (171 comments)

Yeah, but does it do windows?

</ducks>

Nope. That's too much of a chore, boy.

about three weeks ago
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US States Edge Toward Cryptocoin Regulation

SpankiMonki Re:What about my rights? (172 comments)

This is fractional reserve banking. It works with any currency, as long as there's a way to lend it out.

Sorry, with bitcoin I'm afraid it's not that simple. At this point in the discussion, I'm not going to bother with writing out a treatise explaining my position. If you really want to understand the issues involved, I suggest you check the bitcoin wiki along with the many threads on the topic at bitcointalk.org.

about three weeks ago
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US States Edge Toward Cryptocoin Regulation

SpankiMonki Re:What about my rights? (172 comments)

Lending of those assets? Check.

[sigh]

Again, you seem to have a different definition than everyone else of what constitutes "lending". If individuals at MtGox were appropriating customer deposits, that's not a lending activity, that's a criminal activity. And it's still criminal even if they returned the BTC with interest.

Furthermore, at no time did MtGox sell or offer for sale any BTC loan products. If you're not making loans, you're not a bank by any generally accepted definition.

Sure sounds like it meets at least one public definition of fractional reserve banking.

...only if one subscribes to your ridiculous position that appropriating customer deposits is equivalent to lending. But please, continue making up new definitions for common words...it's quite entertaining. I'm sure you're a real hit at cocktail parties.

Cheers!

about three weeks ago
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US States Edge Toward Cryptocoin Regulation

SpankiMonki Re:What about my rights? (172 comments)

The original request said the system did not allow fractional reserve [banking], and you cannot believe that in light of the evidence that fractional reserve did exist.

You're right, I don't believe fractional reserve banking with bitcoin can exist, and you have yet to provide any evidence to the contrary.

MtGox was operating with a fractional reserve for some time. Either intentionally (criminal) or not (negligent).

So...in your mind, BTC exchanges are operating as fractional reserve banks. That's a rather...um, unique position to hold. I suspect the operators and customers of the exchanges would disagree with you, though.

There is at least one bitcoin "bank" currently offering to pay interest on bitcoin deposits.

Just because businesses are paying interest on bitcoin deposits and/or charging interest on BTC loans does not mean they qualify as fractional reserve banks. But since your definition of fractional reserve banking seems to differ from the generally accepted definition, I guess you can make any claim you want. In any case, it sure would help your argument(s) if you could back them up somehow.

about three weeks ago
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US States Edge Toward Cryptocoin Regulation

SpankiMonki Re:What about my rights? (172 comments)

Excellent points. I'd add another: it's tough to imagine why anyone would want to deposit BTC with a bitcoin "bank" in the first place. All of the usual reasons (other than earning interest) for storing money with another party simply don't apply when it comes to BTC.

about three weeks ago
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US States Edge Toward Cryptocoin Regulation

SpankiMonki Re:What about my rights? (172 comments)

And most definitely gold and bitcoin have both been used in fractional reserve situations.

I hope you won't mind if I ask you to cite a real-world example of a legitimate BTC business operating as a fractional reserve "bank". I'd be very interested to see exactly how that was done.

about three weeks ago
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US States Edge Toward Cryptocoin Regulation

SpankiMonki Re:What about my rights? (172 comments)

Read the rules closely and you can figure out it bans opening a BitCoin bank in NY. Basically, if you take deposits it needs to 100% back by BitCoins, so no fractional reserve banking.

You can't use bitcoin for fractional reserve banking; the system itself doesn't support it. Legislation banning fractional reserve banking in BTC is like legislation banning the sun from rising in the west.

about three weeks ago
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The Army Is 3D Printing Warheads

SpankiMonki Re:GPLv4 - the good public license? (140 comments)

This comes from someone who just does not understand that without weapons manufacture most of the world would be speaking German or Russian by now.

And without whiskey manufacture, most of the world would be speaking Gaelic by now.

about a month ago
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The Department of Homeland Security Needs Its Own Edward Snowden

SpankiMonki Re:Just to clarify (190 comments)

You mean someone willing to publish virtually every aspect of how we protect ourselves from terrorism without any independent review, oversight or responsibility?

Hopefully the great mass of irony in your statement squished your brain as it rolled out of your mouth.

about a month ago
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Ask Slashdot: Future-Proof Jobs?

SpankiMonki Re:Over 190 comments in this thread so far (509 comments)

Teachers are under attack....

There's a lot of truth to what you say; your observations are among the reasons why I describe the situation as "sad'.

However, it is possible to work in teaching and not be subjected to the hardships you point out above. All the teachers I know personally love their jobs. Of course, they are fortunate enough to be employed by institutions that are insulated from a lot of the problems you mention.

about a month ago

Submissions

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Children can swipe a screen but can't use toy building blocks

SpankiMonki SpankiMonki writes  |  about 4 months ago

SpankiMonki (3493987) writes "Children are arriving at nursery school able to "swipe a screen" but lack the manipulative skills to play with building blocks, teachers have warned.

They fear that children are being given tablets to use "as a replacement for contact time with the parent" and say such habits are hindering progress at school.

Addressing the Association of Teachers and Lecturers conference in Manchester on Tuesday, Colin Kinney said excessive use of technology damages concentration and causes behavioural problems such as irritability and a lack of control.

Kinney, a teacher from Northern Ireland, also noted "I've spoken to a number of nursery teachers who have concerns over the increasing numbers of young pupils who can swipe a screen but have little or no manipulative skills to play with building blocks – or pupils who can't socialise with other pupils, but whose parents talk proudly of their ability to use a tablet or smartphone."
___________________________________

According to research by U.K. telecoms regulator Ofcom, tablet usage among children is on the rise, with growing numbers of younger kids turning to tablets to watch videos, play games and access the Internet. Use of tablets has tripled among 5-15s since 2012, rising from 14% to 42% over that period, while 28% of infants aged 3-4 now use a tablet computer at home. "

Link to Original Source
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U.S. Greenhouse Gas Emissions Fall 10% Since 2005, but HFC's still a problem

SpankiMonki SpankiMonki writes  |  about 4 months ago

SpankiMonki (3493987) writes "U.S. greenhouse gas emissions fell nearly 10 percent from 2005 to 2012, more than halfway toward the U.S.'s 2020 target pledged at United Nations climate talks, according to the latest national emissions inventory.

Meanwhile, hydrofluorocarbons (HFCs) saw a dramatic rise of over 309 percent during the reporting period. Although the US and China recently agreed to reduce HFC production, the two countries accounted for the bulk of the increase in HFC emissions over the reporting period.

HFC use and emissions are rapidly increasing as a result of the phaseout of ozone-depleting substances (ODS) and growing global demand for air conditioning. Although safe for the ozone layer, the continued emissions of HFCs – primarily as alternatives to ODS and also from the continued production of HCFC-22 – will have an immediate and significant effect on the Earth’s climate system. Without further controls, it is predicted that HFC emissions could negate the entire climate benefits achieved under the Montreal Protocol."

Link to Original Source
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Singapore to regulate virtual currency exchanges

SpankiMonki SpankiMonki writes  |  about 5 months ago

SpankiMonki (3493987) writes "Following on the heels of the Mt Gox, bankruptcy, the Monetary Authority of Singapore (MAS) plans to impose new regulations on currency exchanges dealing in bitcoin and other virtual currencies. Virtual currency exchanges would need to verify their customers' identities and report any suspicious transactions under the new rules.

The MAS said its regulation of virtual currency intermediaries — which include virtual currency exchanges and vending machines — was tailored specifically to the money-laundering and terrorism financing risks they posed. However, the new regulations would do nothing to ensure the solvency of virtual currency intermediaries or the safety of their client's funds."

Link to Original Source
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Physicist proposes a new type of computing at SXSW

SpankiMonki SpankiMonki writes  |  about 5 months ago

SpankiMonki (3493987) writes "Joshua Turner, a physicist at the SLAC National Accelerator Laboratory, has proposed using the orbits of electrons around the nucleus of an atom as a new means to generate the binary states used in computing. Turner calls his idea orbital computing.

Turner points to recent discoveries (including a new material that allows rapid switching of it's electron states and new low-power terahertz laser technology) that could lead to the development of a computer with vastly improved performance over current technologies."

Link to Original Source
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CUPID: The 80,000 Volt Taser Drone

SpankiMonki SpankiMonki writes  |  about 5 months ago

SpankiMonki (3493987) writes "Austin-based design studio Chaotic Moon has created a drone armed with a Phazzer Dragon "Conductive Energy Weapon" as a tech demo. Chaotic Moon's CUPID (Chaotic Unmanned Personal Intercept Drone) is based on a Tarot Hexacopter which typically carry digital SLRs for aerial video and photo shoots. CUPID could be quickly brought to production if security or law enforcement agencies express an interest in the system.

Chaotic Moon intern Jackson Sheehan was used as the system's first human target; Sheehan was clearly subdued by the drone, falling onto safety mats against his will."

Link to Original Source
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Patented new implant stimulates orgasms in women

SpankiMonki SpankiMonki writes  |  about 5 months ago

SpankiMonki (3493987) writes "A US patent has been granted for a new machine that stimulates orgasms for women at the push of a button. The device, which is a little smaller than a packet of cigarettes, is designed as a medical implant that uses electrodes to trigger an orgasm. The device could help some women who suffer from orgasmic dysfunction."
Link to Original Source
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A New Thermodynamics Theory of the Origins of Life

SpankiMonki SpankiMonki writes  |  about 7 months ago

SpankiMonki (3493987) writes "Natalie Wolchover at Quanta Magazine has written an article about how Jeremy England, a MIT professor, may have found a theory of the origin of life grounded in physics. In a paper published last August by The Journal of Chemical Physics, England describes his theory, the "Statistical physics of self-replication".

Wolchover writes:"England['s]...formula...indicates that when a group of atoms is driven by an external source of energy (like the sun or chemical fuel) and surrounded by a heat bath (like the ocean or atmosphere), it will often gradually restructure itself in order to dissipate increasingly more energy. This could mean that under certain conditions, matter inexorably acquires the key physical attribute associated with life."

England says his ideas pose no threat to Darwinian evolution: "On the contrary, I am just saying that from the perspective of the physics, you might call Darwinian evolution a special case of a more general phenomenon.”"

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