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[quote user="Smiling Dave"]Of course, to explain everything based on a low interest rate, one has to have a definition of "low". And their definition was "lower than it should be". Which of course requires a new definition of what an interest rate "should be". The easy way, that avoids all attacks from Saffra
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A black market for many types of consumer goods, such as drugs, is easy enough to imagine. However, how would large-scale production find its way into the black market ? How does a car factory hide its activities to avoid paying taxes and observing regulations? Or a steel plant? Or a mine? Or a farm? Or a chemical plant? Or an electricity generating
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@Blargg I'm not familiar with the term "industrial value." I would simply say that bitcoins were/are valued as consumer goods: i.e. not for their exchange value, not as producer goods, but for the pure psychic benefit which their use (in this case, their mere possession/purchase) yields, like wine, cheese, films, etc.
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In my opinion, bitcoin does not represent an exception to the regression theorem. In its beginning, before bitcoins were valued as money (assuming they are valued as money now), I believe they were valued as consumer goods, providing a psychic benefit to their buyers, who were of a certain ideology. In other words, libertarians bought them because they
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[quote user="Aristophanes"]True that. but, for what end? For what end I ask you?[/quote] Reducing the power of the state. [quote]As my Russell quote indicates, these people grow more and more selfish the more they get involved in politics.[/quote] Firstly, it sounds like you're making an inference about the motives of these people you
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So the "new libertarians" don't meet somebody's purity test....meh. They're going to get more accomplished than any number of apoliticals, however pure. P.S. In my opinion, the crisis in the libertarian movement is not the superficiality of some people's understanding of the philosophy, but rather some people's political
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You don't agree? Insofar as the king has any pecuniary motivation at all, it has got to be that he wants to maximize his income, since his asset (the state apparatus which yields him his income) is unsalable, and I don't see how one could doubt that a king would have pecuniary motivation. Even if the king isn't interested in money for personal
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LOL
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No JJ, it's because I'm familiar with your views on Rand.
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JJ, I had a feeling you'd say that.