Friday, 11 May 2018

Crypto Currency Exchanges, No News is Good News and All News is Bad News.

A case of No News is Good news and All News is Bad News when it comes to the Crypto' Currency Exchange Markets..
Fundamentally there are two positions, One Centralised FIAT Currency on one extreme and at the other an infinite number of ( Complementary, Competing) Crytpo' and FIAT Currencies and other means of exchange'.
With the Crypto Market being at around 500 billion dollars it registers as a Player sized entity in the regular Markets of Capitalism it poses a risk only in the danger that it sets a Good example that challenges Petro Dollar Hegemony.


https://www.zerohedge.com/news/2018-05-10/cryptos-crash-after-nvidia-forecasts-big-drop-mining-demand 


Cryptos have been hit with a double whammy today.
Around 1pmET, the entire space tumbled almost instantly as large blocks went through in Bitcoin, with chatter suggesting the MtGox custodian was unloading once again. Prices quickly stabilized once that selling pressure abated.
However, shortly after the US market closed at 4pmET, Nvidia announced its results, posting quarterly sales that topped expectations.
However, NVDA shares fell as the company revealed for the first time that a bigger-than-anticipated portion of the demand for its powerful graphics processors came from the volatile cryptocurrency market.

And then the company said that while it generated $289 million in sales to cryptocurrency miners in the first quarter, Chief Financial Officer Colette Kress said that the company expects cryptocurrency-related revenue to fall 65% to about $100 million in the next 


This Tweet I responded to yesterday is something of the scale of the situation and in the Old Adage of First they Ignore, then they Laugh and then they Fight then you win. 
Winning is a curious Notion as in a functioning monetary system there is no winning only taking part.



Roger Glyndwr LewisTweet text







Roger Glyndwr LewisTweet text





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The establishment Gatekeeper position on Centralised IBS models of International Floating exchange rates and debt based money has been taken up by Richard Murphy the Tax Evangelist.

http://www.taxresearch.org.uk/Blog/2018/05/06/why-positive-money-is-wrong/comment-page-1/#comment-805559

All of the comment I made on the discussion have been removed but I kept copies in this series of Posts. Richard Murphy and the MMT School knowingly or not are carrying water for the Status quo which is effectively privatised and centralised money creation as debt based instruments. People like Richard Murphy, Mosler, Wray and Mitchell are frankly part of the problem.

http://letthemconfectsweeterlies.blogspot.se/2018/05/why-richard-murphy-disagrees-with.html

http://letthemconfectsweeterlies.blogspot.se/2018/05/to-richard-murphy-and-mmt-witch-finder.html

http://letthemconfectsweeterlies.blogspot.se/2018/05/mmt-and-money-creation-reading-lists-my.html

This recent discussion between Keen and Mosler is worth struggling through, Mosler clearly shows how he is on the Ought side of the Is Ought Dichotomy.


Hume discusses the problem in book III, part I, section I of his book, A Treatise of Human Nature (1739):
In every system of morality, which I have hitherto met with, I have always remarked, that the author proceeds for some time in the ordinary way of reasoning, and establishes the being of a God, or makes observations concerning human affairs; when of a sudden I am surprised to find, that instead of the usual copulations of propositions, is, and is not, I meet with no proposition that is not connected with an ought, or an ought not. This change is imperceptible; but is, however, of the last consequence. For as this ought, or ought not, expresses some new relation or affirmation, 'tis necessary that it should be observed and explained; and at the same time that a reason should be given, for what seems altogether inconceivable, how this new relation can be a deduction from others, which are entirely different from it. But as authors do not commonly use this precaution, I shall presume to recommend it to the readers; and am persuaded, that this small attention would subvert all the vulgar systems of morality, and let us see, that the distinction of vice and virtue is not founded merely on the relations of objects, nor is perceived by reason.[1][2]




 https://en.wikipedia.org/wiki/Is%E2%80%93ought_problem









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  1. Thanks for this series of tweets. There are better ways of doing Money EROI or emboddied energy metrics is the key. DIstributed Computing & smart contracts make direct democracy and real time Means of exchange accounting possible now!
  2. Thanks for this series of tweets. There are better ways of doing Money EROI or emboddied energy metrics is the key. DIstributed Computing & smart contracts make direct democracy and real time Means of exchange accounting possible now!
  3. Thanks for this series of tweets. There are better ways of doing Money EROI or emboddied energy metrics is the key. DIstributed Computing & smart contracts make direct democracy and real time Means of exchange accounting possible now!
  4. Energy Returned on Energy Invested, Surplus Energy Economics Data Base ( SEEDS) Embodied Energy CIrcular Economy.
  5. Crypto Currency Exchanges, No News is Good News and All News is Bad News.
  6. Energy Returned on Energy Invested, Surplus Energy Economics Data Base ( SEEDS) Embodied Energy CIrcular Economy.