416 karma · joined August 26, 2010
'Craig Wright of Australia wrote, a bit petulantly, “Always the assumption that [Satoshi Nakamoto] must be a bloody yank. The analysis of who Satoshi is is always so limited.”'
from this article: http://fusion.net/story/243056/alleged-bitcoin-creator-craig...
His followup post is interesting also. After receiving hate-mail for putting down 9 to 5'ers, he explains that he is jealous...
I'm sympathetic to the discussion of promoting a civil and interesting community, however, in this specific example, I believe the lack of sensitivity towards the poster is actually worse than the crime itself.
Guidelines are exactly that, guidelines. When a long time contributor becomes emotional about the brutally honest instruction of killing an industry, which happens to be one he feels aligned to, I would figure the appropriate response is to explain rather than admonish. There is a propensity to over-regulate with respect to the guidelines, which I attribute to a lack of thought, really.
http://asiasociety.org/education/learning-world/how-singapor...
Why another marketplace? Because if I love books, then I want a place to hang out where there is only book related information.
Options: 1. lower costs and essentially adopt the crowdsourced model 2. increase costs and quality and sell a premium product
Either way, the main thing is that you have identified that you do not want to tread water.
My rough interpretation of the article is that cheap labour from Poland distorted the Irish economy, and the banking contagion resulted in loans to the Polish who couldn't afford the loans, and subsequently disappeared, especially once the whole economy went sour.
An important difference to Ireland's story is that the people who make up Australia's cheap imported labour face greater restrictions in entering the country as they are, with the exception of New Zealanders who are have the same living standards as Australians, international students (and possibly people on working holiday visas) who, to my understanding, are required to demonstrate sufficient funds to get by. Staying on after graduation of whatever course is not guaranteed and has become more difficult post a recent policy change. Australia runs a points system in issuing residency visas and has just cut the number occupations/courses which receive points.
My feeling is that the same expectations fueled bubble has arisen here (I'm in Melb) but has been sustained by the resilient resources dependent economy as well as the capital inflows from those who see Australia as an attractive place to invest and/or also live/have a holiday home.
"real-estate bubbles never end with soft landings. A bubble is inflated by nothing firmer than expectations."
Although the factors driving the housing bubble in Australia are different from those in Ireland, if we concede there is a bubble in Australia, and we listen to economics professor Morgan Kelly, we're due for a crash.
A couple counterpoints to the above: China's demand for resources will probably span another two or three decades, and also Australia's financial lending practices are not and haven't been as lax as those of Ireland or the US.
On the comment of going from -3 to +3 without falling between +- standard deviations, my guess would be that you'd have to pass through that territory anyway, rather than a spectacular jump from one end to the next, seemingly overnight.
Just to let you know, you're not alone there as a country.