CLibertyC

Bitcoin: how I made a virtual fortune

"I think I probably got the IPO price a bit wrong since the 20,000 shares I listed sold out in a matter of hours. We raised a total of 15,667 Litecoins in exchange for 20% of CipherMine's shares; about £27,700 at current prices. We are in the process of investing that money into more mining hardware, but in the meantime, our share price has continued to rise. As I write this, under a week later, the shares are being actively traded at about 1.6 Litecoins each; double the IPO value. CipherMine's market capitalisation currently stands at roughly 150,000 Litecoins, or about £250,000, of which 64% was mine at IPO." Continue reading →

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Winklevoss Twins File to Launch Bitcoin Exchange-Traded Product

"Here’s one of the more interesting S-1 filings of the year. In a filing with the SEC, the Winklevoss Bitcoin Trust, headed by Cameron and Tyler Winklevoss, said it will sell around $20 million worth of shares, which will each represent a fraction of a single bitcoin, the digital currency the twins have invested in. Bitcoin has become the best known virtual currencies since its release in 2009. The currency was created by a person or group known as Satoshi Nakamoto (whose true identity is unknown) and is primarily used by online merchants, though some mostly smaller brick-and-mortar retailers have recently begun to accept bitcoins for payment." Continue reading →

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Intersecting Currents of Change

"Our era is characterized by two considerably overlapping contradictions or fracture points. First, we’re in the early stages of historic transition from a social organization dominated by large, centralized, hierarchical institutions like corporations and nation-states, to a world of small, self-governing units connected together horizontally through networks. Things get interesting when the first contradiction (between the old hierarchies and the self-organized networks which are supplanting them) is reinforced by the contradiction between the World Hegemon and dissident states or rival coalitions of states." Continue reading →

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Chinese spacecraft completes space-docking mission

"The successful manoeuvre was China’s first ever such test, the report said, and it marks a step towards China’s goal of building a permanent manned space station by 2020. China first sent a human into space only in 2003 and its capabilities still lag behind the US and Russia. But its programme is highly ambitious and includes plans to land a man on the moon. Beijing sees its multi-billion-dollar space programme as a symbol of its rising global stature, growing technical expertise, and the Communist Party’s success in turning around the fortunes of the once poverty-stricken nation." Continue reading →

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British parliament budgets $150,000 to refurbish two toilets

"The British parliament is to spend up to £100,000 (120,000 euros, $150,000) on refurbishing two toilets used by members of the House of Lords and guests, it emerged on Sunday. A contract put out to tender by the House of Commons authorities says the toilets, installed in 1937, have not been refurbished for 20 years 'and have reached the end of their serviceable life'. The document says: 'The lavatories are in an unacceptable condition for the high profile area they are in and they give a poor image of the Palace of Westminster. A refurbishment is required urgently to bring the amenities to a standard that reflects a World Heritage site.'" Continue reading →

Continue ReadingBritish parliament budgets $150,000 to refurbish two toilets

Is ‘La Vie En Rose’ Over For France?

"French industry has been ruined by overly powerful unions and their political allies in the Socialist Party. One would be crazy these days to open a factory in France with its absurd 35-hour work week, endless vacations, surly unions, strikes, and social costs that add 50% to worker’s salaries. Laying off workers during downturns or closing plants involves siege warfare. French universities keep churning out unemployable graduates in social anthropology, sociology, and film-making. Government in France employs 56% of all workers, an unsustainable cost that, with retirement at 60 and unemployment benefits – now 32% of GDP – is bleeding the economy to death." Continue reading →

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Argentine president battles inflation by launching government clothing line

"Just in the last few years, she’s imposed capital controls. Media controls. Price controls. Export controls. She’s seized pension funds. She fired a central banker who didn’t bend to her ‘print more money’ directives. She even filed criminal charges against economists who publish credible inflation figures. Even Cristina acknowledges that prices are way too high. But rather than rein in spending and stop the money printing, she’s digging her high heels in even further by launching a new clothing line. This new brand– NYP will be owned and run by the government, selling everything from jeans to shirts to shoes at prices below 100 pesos (less than $20 officially)." Continue reading →

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NY Fed: The Truth About the Job Market for Recent College Graduates

"We show that there are large differences in unemployment rates, underemployment rates, and average wages across majors. In particular, we show that those with degrees in majors that provide technical training, such as 'Engineering' and 'Math & Computers,' or in those that are geared toward growing parts of the economy, such as 'Education' and 'Health,' have tended to do pretty well when compared to the rest of the pack. At the other end of the spectrum, those with a 'Liberal Arts' or 'Leisure & Hospitality' major tend to have lower wages, higher unemployment, and higher underemployment." Continue reading →

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San Francisco public transportation system shut down by striking union workers

"The strike by 2,400 BART workers came after acrimonious negotiations centered on wage and benefit issues broke down late Sunday, just hours before current labor agreements expired. Both sides blamed the other for abandoning the talks. BART serves about 400,000 riders daily, many of whom rely on the system to travel from Oakland, Berkeley and other communities on the east side of San Francisco Bay into the city of San Francisco. The strike will shut down the system once all trains are parked early Monday morning and is expected to bring widespread travel disruptions and traffic gridlock." Continue reading →

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