I'm more partial to a mayonnaise jar buried in Funk & Wagnall's back yard!
73,
Gary AL9A
-----Original Message-----
From: k2qmf@juno.com
Sent: September 19, 2014 1:27 PM
To: al9a@mtaonline.net
Cc: k2qmf@juno.com ; writelog@contesting.com
Subject: Re: [WriteLog] WriteLog 11.22 released AND a special sale...
You sound like a candidate for Bitcoin!!
On Fri, 19 Sep 2014 12:57:57 -0800 "Gary AL9A" <al9a@mtaonline.net>
writes:
I know, off topic, but...
Don't bet the "bank" on your being held harmless because your bank
has FDIC
insurance. This is yet another Federal agency long on promises,
short on
cash to deliver. If any FDIC member bank were to fail you can count
on the
legal process to take months or years to do the auditing steps prior
to
making any payouts to the customers. Even then I would estimate
FDIC would
cover only about 60 - 70 % of customer losses. If many banks failed
at the
same time the payout would be even less. How's your sleep doing
tonight?
73,
Gary AL9A
-----Original Message-----
From: k2qmf@juno.com
Sent: September 19, 2014 8:29 AM
To: w5xd@writelog.com
Cc: writelog@contesting.com
Subject: Re: [WriteLog] WriteLog 11.22 released AND a special
sale...
I don't know about you but my bank
has FDIC insurance!!!
Go figure!
K2QMF
On Fri, 19 Sep 2014 15:30:45 +0000 "Wayne, W5XD"
<w5xd@writelog.com>
writes:
> >Bitcoins sound a little bit sketchy to me...
> >
>
http://www.bloomberg.com/news/2014-02-28/mt-gox-exchange-files-for-bankr
uptcy.html
>
>
<http://www.bloomberg.com/news/2014-02-28/mt-gox-exchange-files-for-bankr
uptcy.html>
>
> Yes, it does sound sketchy. Here are some facts to ponder:
>
> mt-gox is (was) a bitcoin exchange where "exchange" is an
important
> word to understand.
> It was "like" a bank in the sense that bitcoin owners entrusted
> their private keys to
> a third party (mt-gox) who treated them in an insecure way (i.e.
the
> private keys were
> stolen). This is analogous to taking a pile of cash to a bank,
who
> put it in a safe, but
> the cash disappeared from the safe. The keeper of the safe
declared
> bankruptcy because
> he didn't have the resources to pay back the depositors.
>
> Would we allow ourselves to say cash is "sketchy" and we should
not
> use it? Every
> individual has to make a choice, but the underlying choice is one
of
> trust: do
> you trust (a) the technology behind the "cash" or the "digital
> currency"? (b) the
> keepers of the keys to lock to the safe? (c) that the "cash" is
> itself not counterfeit?
> or (d) the cash won't be inflated to zero value by the time you
want
> it back?
>
> My understanding of bitcoin, based on my own technical expertise,
is
> that its technology
> meets basic standards of trustworthiness. But there is no
absolute
> standard of
> trustworthiness. Each of us has to make a relative judgement of
> whether one choice is
> more trustworthy ("secure") than another. In this case, the
choice
> is between bitcoin
> and the US dollar. Each offers a very different set of technical
> tradeoffs, and a very
> different set of human judgement tradeoffs (that is, you have to
> predict the future
> behavior of people in order to make a decision about who to
trust.)
>
> Wayne, W5XD
>
> ________________________________
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> WriteLog@contesting.com
> http://lists.contesting.com/mailman/listinfo/writelog
> WriteLog on the web: http://www.writelog.com/
>
____________________________________________________________
Apple's new iPhone?
Look closely. Because as you might guess, Apple is hiding
something…
http://thirdpartyoffers.juno.com/TGL3141/541c5a692619a5a680b34st01vuc
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WriteLog on the web: http://www.writelog.com/
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