mvleming

Interesting. Alright, I'm going to look at the different sides and decide what I think.

Oh no not at all, you're right. I'm not sure if this is the correct terminology but, googling it, I think it's called reserve requirement. "The reserve requirement sets the minimum reserves each bank must hold to demand deposits and banknotes." [1] An example they give is Hong Kong whose banks must hold 25% of their liabilities.

During the subprime mortgage, American banks (and some foreign banks but I can't recall them) were deregulated in a way that allowed them to have a higher ratio between their liabilities and what they actually held. This meant they could increase their financial investments without really having the money. I can't remember the exact ratio but it was something like 40-1.

[1] http://en.wikipedia.org/wiki/Bank_regulation#Reserve_require...

I'd love to read on thoughts about how a digital currency will change economic policies, the market, and just things in general. If its decentralized (i.e. the currency is not distributed from a central bank), then presumably you can't deflate or inflate the value of the currency in order to encourage economic growth (am I getting this right?). Also I'm wondering what Bitcoin means in terms of banks. If I don't need a physical safe to hold my money anymore, then obviously banks will be forced to go digital as well right? And what does that mean for financial instruments? How does a digital currency play in with high-frequency trading?

So many questions. Bitcoin is really making re-evaluate a lot of things. I think I've given you a sense of what I'm looking for.

I'd like to know as well. And for that matter, is there any interesting material out there that talks about Bitcoin?

The Seven Mysteries of Life I read last November over the span of a month, and this book is probably the one that has most-defined who I am today, even though it's been just a year. The author, Guy Murchie, spent 15 years writing it. From it I learned the most anybody is from me is 50th-cousin. I also learned that there are insects so small they don't feel gravity, and for them flying through the air feels like swimming. Seriously, get this book, it is earth-shattering.

I'm also going to recommend another book but I hope not to undermine my first recommendation. It was written by Joseph Campbell and it's called The Hero with a Thousand Faces. I read it in January. In it Campbell writes of many mythological stories and then ties their common themes back to the journey the 'hero' must take. And from this journey the hero must take I got insights that were profound. I'm not kidding when I say I hold a deep reverence for this book.

I hope you check 'em out. :)

Edit: Here are the links to the books on Amazon:

The Seven Mysteries of Life: http://www.amazon.com/The-Seven-Mysteries-Life-Murchie/dp/03...

and The Hero with a Thousand Faces: http://www.amazon.com/Thousand-Faces-Collected-Joseph-Campbe...

Wired.com: How do you maintain your optimism?

Musk: Do I sound optimistic?

Wired.com: Yeah, you always do.

Musk: Optimism, pessimism, fuck that; we're going to make it happen. As God is my bloody witness, I'm hell-bent on making it work.

It comes from this this interview: http://www.wired.com/science/space/news/2008/08/musk_qa.

EDIT: adastra beat me. Ha.

Hey Shawn. I've been looking into Dev Bootcamp so to hear about Catalyst is exciting for me. I'm surprised there are several other programs of this type though. Which ones are they?