Cryptocurrencies the way ahead

Why is are these technologies emerging? (“They can’t stop it”)

Code is law – a quick overview, click here (Havard Magazine)

The immediate future

Colu’s OpenAsset
Local Exchanges
Barter / Paying your tax

bitcoin <- the lightening network

One of bitcoin’s blockchain ideas is executing scripts, this gave birth to Ethereum, however that will be eclipsed this “Turin complete” system like Tau Chain: A ‘Decentralized App Store’ with Greater Flexibility than Ethereum, providing a defined cost of computing. (Click on the link above to read the Coin Telegraph article)

CT: How does it compare to Ethereum?

HMC: Ethereum is a Turing complete logic, per block. This means they can easily prove that they can compute any computable thing in one block, but at the cost of not being able to necessarily know how much resource it will take to do the block’s computation.

Because of this, they need to back their resources with a fixed token asset, and set a network-wide resource price on computations in order to avoid abuse of resource.  Further, in order to secure exchange, they require everyone who is validating the block to effectively re-execute everything that has ever been executed.

To contrast, Tau is a decidable complete logic, per block, with Turing completeness recovered by the iteration of multiple blocks.  This means that we cannot compute any computable thing in one block, but we can know exactly how much resource expenditure a block will require to verify. We can still compute any computable thing; it may just require structuring the execution to run over the span of multiple blocks.  Because of this, Tau resources do not need to be backed directly by a token, and resource exchange can be negotiated by the users as they see fit.

Further, because it is decidable Tau can contextualize all of its logical resolutions, the only processes that necessarily must be re-executed by all participants is the resource expenditure required to persist the root chain securely. Any other process need only be re-executed by participants interested in verifying activity that occurred within that context, and can be ignored by other users, without sacrificing any security in the long run.



so how is there also money for war

Because unfortunately it allows most of the West to have a very high standard of living and if Joe Public knew exactly how their standard of living was directly linked to the military industrial complex, the killing involved, the drug laundering, etc. I bet they might even vote for more of it to increase their standard of living. Humans are genetically programmed to look after their kith & kine, family / village / town etc. We breed more successfully than rats and religion has become very strong. For example one group who believe their God is the only true God breeds at 7% per annum, which is a double factor of 10 years. This is causing problems.

There isn’t enough contemplation time in the modern day to reflect on making the most of life. Death is practically a banned subject in Western culture and most religions have an obsession with the afterlife. We’ll just have to see what computers choose for us in 20 years time as the point of singularity draws nearer.

Invented by Antoine LeCoultre in 1844, the Millionometer was the first instrument in history capable of measuring microns. He sat on his invention for 50 years waiting for the 1900 Universal Exhibition in Paris before showing it. Did the German manufacturers of Field Guns use the technology – I doubt it, it arrived too late. What if he had patented his instrument in 1844. He might not have been granted the patent because of it’s military implications. Would the Swiss have let the Germans have had the designs? We shall never know, but we do know that extreme AI – will have NO MASTER.

CRISPR technology will look like a walk in the park.

What is the Middle Class?

The middle class by classical definition on wikipedia is “about 25 percent of British society, reported high economic capital, high status of mean social contacts, and both high highbrow and high emerging cultural capital.” however you classify a person by this measure they nearly all have something in common.

What is comfortable, whilst we can look up a dictionary definition of comfortable as well, lets assume that one of the defining factors in modern life is not having to worry about money too much on a day to day basis.

Middle class begets more middle class with the 6% of the elite thats pretty much a solid majority which control the country. That’s leaving out who is actually in power politically, but it’s actually the group of people that who shape the way society functions.

This group has always been in control in one way another through the years even when the country was under a feudal rule. Anything that disturbs this section of society’s distribution of wealth causes concern. Until something threatens this group’s existence or standard of living it doesn’t pay attention to it.

Does this group perpetuate the selfish gene? It certainly becomes an interesting mind experiment if we apply the theory to the “group”. I personally cannot see any reason why it shouldn’t.

We came from a society that only allowed certain segments to vote but over time the vote became inclusive. Now in the 2015 UK General Election, can we honestly say that we would want this to be so? Just over 50 years ago since World War II, half a lifetime, we have a political force that ten years ago would have been labelled “racist, fascist, bigots“. Who are these people? Well whilst the group is inclusive to both sides of the political spectrum it contains a percentage that are part of my definition of the comfortable middle class.

What is money? Well I’d would hazard a guess that most people don’t give the monetary system any more thought to that question than say where there Peacocks £2.99 t-shirt is manufactured or what the hourly rate of pay in relation to the UK minimum wage is there. What I can explain in a few sentences is after the financial crash of 2008 occurred, the “central banks” that help governments control the economy started to print money in a slightly different way to the Weimar republic of Germany between 1919-1923. Instead of printing money with paper, the central banks post-2008 generated it with computers.

Debtonomics (New economic term – Economics based on Debt, rather than Capital)
Now in pre-Hitler Germany printing money led to inflation, this led to goods costing more tomorrow than they do today. Too much money in the system, so people needed more wage money to stand still to survive what needs to be bought tomorrow.

Post-2008 computer generated money by mainly the US has caused an unprecedented boom in the stock market. This is the future value that pension companies place in companies they buy into. They want to obtain the highest return on their investment for their stakeholders. The stakeholders are the widows and pensioners who are no longer largely in the tax system paying “work force”.

So much money has been created out thin air, that companies are seeking to add value to their companies not by manufacturing new widgets that society needs nor providing services which are better than their competitors but just acquiring companies that do make things or have a better service product.

The new money printing called “Quantitative Easing”, regards of how it creates money maybe actually causing deflation, many “experts” believe this to be true. Personally with the frequent changes in measuring CPI and the dumping of the RPI in 2013 which lie to believe is hard to choose.

The long-term consequences of global QE are likely to permanently impair living standards for generations to come while creating a false illusion of reviving prosperity.

was said by Guggenheim’s Chairman of Investments and Global Chief Investment Officer, Scott Minerd. 26th March 2015. We are happy that increasingly more “serious people” come to the same conclusion which we posited first a 6 years ago wrote Zerohedge. “The cost of QE is greater than the income lost to savers and investors.”

Summary of QE
We know who QE is screwing and we know who QE is benefitting. Therefore do we need to understand the global economics – nope.

Fit for power? (UK)
We have politicians who want our vote, whose economic advisers are woefully unqualified by anybodies standpoint to navigate the post-2008 economic post-consumer society.

We have a society that may limit our path to inflationary growth because tomorrows manufactured goods will always be cheaper tomorrow and from a country point of view we will allow whole national infrastructure industries to be wiped out by economic rules created in a Keynesian pre-2008 world.

Do supermarket suppliers receive a fair market price for their products?
What will happen to the quality of the arable land in Europe under the stewardship of the European Union?

Middle Class, Working Class – do I care?
I don’t care because these labels aren’t helping anybody in any shape of form.

The monetary system is changing
Bitcoin will be patched in preparation for the lightning network – see Blockstream hires Rusty Russell

The new class system will comprise of those who:

  • Really understand money – (as the way money used to be, like gold)
  • Those that can create added value with digital money and digit assets
  • Those that use it

Such is the dy/dx of change with respect to the understanding of money and wealth transposing on society that any references to class, cease to have any meaning.

Maybe Cameron isn’t an idiot? But a closet property developer #CameronCryptoBollox

Well our Prime Minister David Cameron really set the tongues wagging for the 1% with a vague concern about the small issues surrounding the freedom of speech on Monday 12th January 2015. The alleged “I am clearly an idiot with mentally challenged advisers” was as follows:

“Are we going to allow a means of communication between people which even in extremis, with a signed warrant from the Home Secretary personally, that we cannot read?”

“No we must not. The first duty of any government is to keep our country and our people safe.”

You see, I live near to Totnes in the UK, you may have heard of it even Internationally, it’s the home of Transition Town. Every now and again we’ll get the odd strange planning application come up in the local paper. The Duke of Somerset to build on green belt, yarda yarda. Then there’s the plot at the end of Plymouth road by the Council offices, yarda yarda and again a lovely green field site previously owned by the Dartington Hall Trust. Going under concrete as I type.

So I reckon Cameron is maybe a closet property developer? If you follow a local planning issue in your town and I’m writing as a Brit, I’m sure it’ll be the same story in your own town where ever you live.

  • Property Developer wants to build 100 homes
  • Property Developer applies to build 500 homes
  • Local outrage
  • Local authorities grant permission for 150 with stipulation to provide help for local amenities
  • Property Developer horse trades and settles for 100 without helping out local authorities

Directive 2006/24/EC-Directive 2002/58/EC 

According to the directive, member states will have to store citizens’ telecommunications data for a minimum of 6 months and at most 24 months. Under the directive the police and security agencies will be able to request access to details such as IP address and time of use of every email, phone call and text message sent or received. A permission to access the information will be granted only by a court. On 8 April 2014, the Court of Justice of the European Union declared the Directive invalid in response to a case brought by Digital Rights Ireland against the Irish authorities and others. (Wikip)

Germany’s Merkel urges new EU law on data tracking
15th January

An EU directive on data retention was made invalid by a European Court of Justice (ECJ) ruling last April.

That 2006 directive opened up private communications data to police, but message content was still protected.

Ms Merkel’s statement contrasts with the uproar in Germany last year over US mass surveillance of internet traffic.

She was speaking in the lower house of parliament (Bundestag) about measures to prevent attacks like the killing of 17 people in Paris last week by Islamist gunmen. (BBC)

Have have ever met a poor property developer? Or builder?
So as we know that banning encryption is clearly a stupid planning request, but we can see that providing the requirement for several hundred million or possibly a billion pounds plus of IT expenditure would be of great benefit to the private IT sector. The very same people who are calling Cameron an idiot – I’m not so sure.

Why I would bet against the Conservatives forming the next government post 2015 general election?

From the Guardian’s “UK population: how will it change over the next few decades?“. We can extrapolate the following chart below.

M+F UK population figures dirtily against housesold requirements 2016-2027 for age groups 40-50 & 51-60

M+F UK population figures dirtily against housesold requirements 2016-2027 for age groups 40-49 v 50-59

For each year I’ve added up the age ranges totals for 50-59 and subtracted 40-49 totals.

So here is my logic, those couples aged 50-59 will be looking to downsize after their children have left university, each year on the graph plots the difficulty of selling your house. This age band needs to do this due the lack of retirement funding they hold. Previous generations have been successfully following this pattern to acquire a small buy-to-let portfolio of perhaps just two properties.

After the next General Election in 2015, around 2017 there will be dramatic problems in the UK housing market. Downwards!

There were less people born after this batch of boomers, so there if there are less couples to buy the boomers property. QED something bad is going to happen to the UK property market. If only half that population that block are a couple. 200,000 then say potentially 50-100,000 couples downsizing is big volume, and I’m being optimistic it’s going to be this small.

Lets have a look at pensions.


As a country UK debt is considerably worse than the US.

Cameron and the Conservative Party will do their up most not to win the next General Election.

But if they win again in 2020, they could stay in power for a considerable period of sustained property lead prosperity.

UK Police Launch Campaign To Shut Down Torrent Sites reported today on UK Police Launch Campaign To Shut Down Torrent Sites

What does this mean to me?  The politicians are yet again being lobbied about a subject they nothing about and it will actual make the prospect of investigating organised crime actually more difficult in future if FACT and the BPI continue to gain sway.

OK – so here are the FACTS according to Mark

If you are forty something, you were at school of the time of “ghetto blasters”, which commonly had a tape to tape facility were owned by half the classroom. In fact Amstrad was taken to court, and neither the shops nor Amstrad were held responsible for the crime that MIGHT be committed by that device. In exactly the same way that a torrent index site might be used to access copyrighted materials.

The fact of the matter was the tape to tape devices at the time were actually aimed, marketed and priced at people to perform illegal acts. What has changed? NOTHING.

Now going back a paragraph do you remember having a whole load of pirated albums from you mates on tape? Remember the Sony C90 cassettes? (Blue and Green) Still got them – doubt it. Why – because this generation I am describing went out and bought them all on CD? Remember Love over Gold being one of the first AAD issued CD’s?

Back to today, the generation that is torrenting movies now will have purchased their favourite DVDs or a real digital download license by the time they are forty. Why – even if they know how to obtain a copy of a compression quality ratio that is stunning, they’ll just opt to pay the £9.99 out of shear convenience, just like my peers bought CDs. Remember the tape example. Where are the tapes? Video killed the radio star but did home taping really kill music? RUBBISH.

Now lets turn our attention to the organised crime debate, if people are downloading movies and turning them back into DVDs to be sold on street markets in third world countries or Western High Streets. FACT and the BPI will never stop either. If they somehow managed to kill torrent indexes, it just means that people will obtain one legal copy and copy it – just like tape to tape recorders. However that will never happen, the current public torrent indexes will just move over to TOR or Freenet.

OK I’ll be honest here I’ve been keeping you hoodwinked all along.

This torrent malarkey has little to do with piracy as I have narrated above, it’s more about freedom of speech / free will. As Internet bandwidth flourishes from 7 mbps in the UK to say 10 -14 mbps then distributed TV using torrent starts to become a very interesting prospect. Brands will start to finance independent sitcoms/soaps/CSI/BGT/BigBrother and news exaggeration will change from the established media to independents.

Agencies don’t care about Murdock, in fact they are sick of being dictated prices to, hence the extended payment terms negotiated last week across the world. Agencies only care about their clients (brands), and wake up people, it’s all about the brand. Nothing else matters in a consumer society where a 3D printer will make anything you want. Or certainly change product manufacture dramatically over the next 10 years.

What do 3D printers need? Data files anonymously sourced? Hold on, you can make a gun with a 3D printer.

So you really want to drive this torrent “thing” underground and really make it untraceable? Yer right. 48 carat stupidity.

Now if I was cynical I’d say that this move to drive the torrent index engines underground to darknets would be an excellent way for QCHQ and the NSA to obtain more budget…



Kiss Ya Lips [No I.D.] – Ian Brown
Push the feeling on
The underpants go outside the pants
Two little boys – Rolf Harris
Camouflage – Stan Ridgeway
19 – Paul Hardcastle