If you are so sure that Palestine is an historical country:

If you are so sure that ” Palestine , the country, goes back through most of recorded history,” I expect you to be able to answer a few basic questions about that country of Palestine :

When was it founded and by whom?
What were its borders?
What was its capital?
What were its major cities?
What constituted the basis of its economy?
What was its form of government?
Can you name at least one Palestinian leader before Arafat?
Was Palestine ever recognized by a country whose existence, at that time or now, leaves no room for interpretation?
What was the language of the country of Palestine ?
What was the prevalent religion of the country of Palestine ?
What was the name of its currency? Choose any date in history and tell what was the approximate exchange rate of the Palestinian monetary unit against the US dollar, German mark, GB pound, Japanese yen, or Chinese yuan on that date.
And, finally, since there is no such country today, what caused its demise and when did it occur?
You are lamenting the “low sinking” of a “once proud” nation. Please tell me, when exactly was that “nation” proud and what was it so proud of?

And here is the least sarcastic question of all: If the people you mistakenly call “Palestinians” are anything but generic Arabs collected from all over — or thrown out of — the Arab world, if they really have a genuine ethnic identity that gives them right for self-determination, why did they never try to become independent until Arabs suffered their devastating defeat in the Six Day War?

I hope you avoid the temptation to trace the modern day “Palestinians” to the Biblical Philistines: substituting etymology for history won’t work here.

The truth should be obvious to everyone who wants to know it. Arab countries have never abandoned the dream of destroying Israel ; they still cherish it today. Having time and again failed to achieve their evil goal with military means, they decided to fight Israel by proxy. For that purpose, they created a terrorist organization, cynically called it “the Palestinian people” and installed it in Gaza , Judea, and Samaria . How else can you explain the refusal by Jordan and Egypt to unconditionally accept back the “West Bank” and Gaza , respectively?

The fact is, Arabs populating Gaza, Judea, and Samaria have much less claim to nationhood than that Indian tribe that successfully emerged in Connecticut with the purpose of starting a tax-exempt casino: at least that tribe had a constructive goal that motivated them. The so-called “Palestinians” have only one motivation: the destruction of Israel , and in my book that is not sufficient to consider them a nation” — or anything else except what they really are: a terrorist organization that will one day be dismantled.

In fact, there is only one way to achieve peace in the Middle East . Arab countries must acknowledge and accept their defeat in their war against Israel and, as the losing side should, pay Israel reparations for the more than 50 years of devastation they have visited on it. The most appropriate form of such reparations would be the removal of their terrorist organization from the land of Israel and accepting Israel ‘s ancient sovereignty over Gaza , Judea, and Samaria.

That will mark the end of the Palestinian people. What are you saying again was its beginning?

(Found on another website)

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Recent BItcoin Adventures

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It has been a while since I posted an entry here. Good bloggers are disciplined. They write regularly, and they write about things that are interesting. Bad bloggers make three entries and write in an unegaging way. Well, enouch apologies and excuses. Here is my current bitcoin life. Somehwere along the way, I sold enough bitcoin to buy a scooter. Yup! I, who once owned a 1978 Harley XLCR, a Honda CB750F, a Yamaha 650 twin, and a Triumph now indulged himself in buying a 150cc Scooter. Yup! I spent bitcoin to get USD to buy a Vespa clone manufactured in India, and got an American made sidecar which Boca Scooter set up for me.
Look at this: http://www.genuinescooters.com They import the Scooter.
Here is manufacturer of my sidecar
http://www.scooterworks.com/sidecar–10–wheel–rocket—vespa-large-frame–stella-products-11587.php?page_id=253

It really is a lovely bit of Italian, Indian and American engineering. 9 horsepower, top speed of 40 MPH, but fun! Oh! Yes! 80 miles per gallon.

Well, although I am enjoying my scooter, I have been waiting for Ken Slaughter of Active Mining to provide his many shareholders, of which I am one, with some good news. He continues to be reticent. He continues to provide numeric answers to simple questions and claims to be under NDA (non-disclosure agreement) for the production of chips. (eASIC, if you are reading this, Ken really has been incredibly silent about your agreement with him.) The BitFunder.com Bitcoin stock exchange closed. Ukyo/Ukto, wisely, prefers freedom over the wrath and possible incarceration due to upsetting the SEC. (Ukyo is the owner, developer of the BitFUnder exchange.) The loss of that exchange means there is on less place to trade bitcoin securities, in particular, Active Mining stock. On the other hand, there have been some scams related to bitcoin companies, so, maybe it is not all bad that the SEC is out there demanding regulation. In any case, we are hoping Ken comes through and Active Mining does get the chips it ordered and begins producing mining equipment and begins mining.
For details on Active Mining visiting the thread over at BitCoinTalk.org
https://bitcointalk.org/index.php?topic=297503.0
Well, since I am in the USA, Florida to be specific, I cannot get verified to use MtGox.com. That is where the price of bitcoin, as of today is above $510. Where was it a year ago? $28? In any case, I discovered Bitcoin when it was at $28. Then it shot up to $250 or so and fell. Now, it is above $500. It is hard to know if this is a bubble, another bubble, true increase, a momentary fluctuation. My mining operation is currently only a hundred or so GH. Not much compared to what many people have, but finally it will have a chance of some profit. The question is, sell my hardware or mine and hope to sell at some higher price. That is the question many miners both of many GH and fewer are asking.

Strange Transactions

For about a week, I have not looked at my main bitcoin wallet. Then today, I opened my Bitcoin-QT wallet and saw that someone had sent me .0001 bitcoin.

That was rather surprising, since I have not done any trades or business using the addresses I have in that wallet. What I did find is that the fractional bitcoin was sent to the main address I use on my Twitter feed, and which I use to identify myself on bitcoin-otc.com and on the freenode IRC bitcoin channels.

So, I checked with blockchain.info and discovered that someone with a set of unusual vanity addresses had sent .0001 bitcoin to just about everyone who had labelled their address on Blockchain.

Take a look! Here is the blockchain entry for my main address https://blockchain.info/address/1EttqaSSCksRAXrwejoChs5zmGjSikN9mC

That fractional bitcoin came from

1FUCK1DoBdHY29bcsPzp1zg6ZPVPoekFx8
1SCAMPsg9t4qWd4fdiuWtDzTdxQwCzzdQ
1CpornXuZwbsjoFcrBZaMY56hfQ2xWDtLG
1CPxxxBUeah9g53QS7Je8J8V8x4PV27vhT

 

Whoever owns those unusual addresses seems to have made many small gifts.

https://blockchain.info/address/1SCAMPsg9t4qWd4fdiuWtDzTdxQwCzzdQ

 

If you know why this person did that, or if you are the owner of those unusual addresses, thanks!

 

 

Lorenzo Money

This Blog – My life in Bitcoin

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While I am far from a newbie to bitcoin, that digital money that has been bouncing around for a few years and which shot up in value a couple of months ago to $255 and then crashed to $50, then rebounded to about $130 and then dropped this weekend to below $100, having discovered it when the price was at $28, I recently discovered how many people have actually known about bitcoin since its price was below $10. There are some very smart young people out there who are looking to translate their bitcoin tech and bitcoin business ideas into something that will make them into the next high tech under-30 billionaire. 

 

Bitcoin has its own threads on Reddit (but then again, everything and everyone has its own threads on Reddit), its own forum, BitCoinTalk.org, a foundation which no one except its own members respect ( bitcoinfoundation.org ) and some big money moving around.

On of the biggest subjects discussed both on the RIC bitcoin channels on freenode and on bitcointalk.org is how and why the price of bitcoin goes up, down, hold steady, is in another bubble, will never return to previous highs, will definitely get to $500 by September, November, February of next year, or will be banned by Homeland Security and be made illegal, or will be adopted by all the big banks and taken over by the evil corporate empire.

Why did the price of bitcoin fall below $100 US this weekend? I have read a variety of article by people smarter in finance, economics and computer science come up with their theories and I have come to the realization that no one really knows. The price of bitcoin is based upon supply and demand. Fiat currency, the price of corn, gold, oil are all subject the government influence and are not pure free market commodities. Maybe at some point the price of bitcoin will be made stable through goverments’ interventions, but at the moment, of all commodities on this planet, whether bonds, stocks or tangibles, the price of bitcoin is the only one whose price is determined solely through a free market based purely on supply and demand.

 So, if the price of bitcoin has dropped, it means that either more bitcoin has entered the market, or that people have begun to lose faith in bitcoin and are not interested in buying anymore. The variance of bitcoin prices can be better understood by psychology than traditional economics. In fact, there is a discipline called behavioral economics, but, I have no expertise in that, so I only speculate on these issues. But, given that bitcoin is still in the wild west development stage, my theories and speculations are as good as anyone’s.

 Well then, why did the price drop this weekend? Simply: Who the fuck knows? Seriously, there is no expert who really has an answer.  

The really rich people in this world know all about bitcoin. If they don’t already know about it, the smart and rich but less rich managers of the money of those rich people know all about bitcoin. When I say rich, I mean those people whose great-great-great grandchildren will never have to work, because the interest on the principle of what these people get is more than what you or I earn in any ten year period. These people are well aware of how to hide their wealth, preserve their wealth and pay as little in taxes as possible. They know about bitcoin, but my not be invested in bitcoin. Remember, these people have been able to hold on to their money because they avoid silly risk. No matter what bitcoin-fanboys (myself included) think, bitcoin is still risky. It is hard to move money of any large quantity in and out of exchanges, there is very little that really can be bought with bitcoin, and most bitcoin is being held and hoarded and not used.

What is means is that bitcoin, because it is still so unregulated, is a big risk. What it means is that because bitcoin is still so unregulated, there is great opportunity for bit profits. What is means is that because bitcoin is unregulated, it is probably the only real free market in the world, other than some camel and goat market someplace in Africa which also is uninfluenced by government interference and represents a true coming together of buyers and sellers and whose price negotiations really do look like those simple supply and demand graphs from Economics 101.

The price of bitcoin dropped below $100 this weekend, and everyone in the Bitcoin-opinion-sphere offered an opinion why. Well, until we find that one handed economist, like the punch line in that famous joke, no one knows why the bitcoin price fluctuates one way or another. This is less a puzzle for pure classical economists than it is for psychologists (or rather, behavioral economists).

Despite it being touted as a decentralized currency, with a distributed control, and no single person or entity able to control it, only one exchange (a website where you can trade fiat for bitcoin) really matters in determining bitcoin price. That is MtGox.com.  I love CampBX.com, but it just doesn’t have the volume that Gox has. Rumours abound of private brokers who find whales who want to make bit trades of USD for bitcoin and bitcoin for USD, and arrange private exchanges, that are off the books, and are of such large quantity that the exchanges could not really handle those trades.  Most trades on MtGox are for amounts less than $1000.

What if you got into Bitcoin over a year ago, bought tens of thousands of bitcoin when the price was below $10 and you need the money to buy a Lamborghini or pay for your wedding to that French fashion model you met while on Spring Break? Well, you can just sell your long hoarded bitcoin. Since the depth of trading is so shallow on MtGox, even though it is the biggest exchange, a $10,000 or 1000 bitcoin trade could easily change the price of bitcoin a significant amount. Behavioral economics relies on the idea that aggregate behaviors of large groups of people can be studied and predicted. The problem is because bitcoin exchanges are so small, the random behavior of some financially and bitcoin endowed individual can push the price of bitcoin in one direction or another for no reason that can be understood or used to determine any trend, since it may not be due to a trend but due to the random decision of one individual.

Well, what does that mean about the recent price change below $100? It means absolutely nothing. It means you have to not look at any short term changes and decide if you believe in bitcoin in the long term. It means that human beings, even geeky nerdy brainy men (and 90% of all bitcoiners are male) are subject to enjoying and engaging in the commerce of gossip and rumors even if those rumors are about the government, the price of bitcoin and what the Winkelvoss twins are doing.

If bitcoin drops below $100, you should buy and hold. Unless of course, you don’t believe in Bitcoin, in which case, I suggest you leave bitcoin altogether and seek out the next-next-big thing, and when you find it, come back and tell me, so i can join that next adventure.