And here is a detailed under the hood look
Inside the Mt. Gox Bitcoin-Exchange collapse
A former Mt. Gox employee says incompetent management and faulty accounting—not virtual robbers—are the real culprits in the missing millions.
Bitcoins had possibly been siphoned off over several months by users exploiting flaws in the system. In particular, there seemed to be a system glitch that made it possible to get a payment reissued even after it had been already received. He says that because the firm hadn’t hired an accounting firm to keep the books or an auditor, the theft was undetected. …
Teikoku Data Bank, Japan’s largest and most respected credit-rating agency, in Julyof last year reviewed the company and gave it a D4, the worst possible rating a company can receive on their scale. One of the reasons for the low rating was the lack of qualified accounting staff at the company… .
The former employee believes that Mark Karpeles has not acted maliciously or for his own profit. “He’s a workaholic and a geek, but a good-hearted geek. He just has very limited management skills, a little hubris, and didn’t pay attention to accounting. He’s only 27 or 28 years old.”
He wrote most of the code—he created a fantastic [application interface]. It’s a wonderful platform for trading Bitcoin. The problem isn’t Bitcoin—the problem was the way Mt. Gox was run. And now it’s probably going to be run into the ground.”
“If Mt. Gox had been treated like a bank, this problem would have never happened. It would have had to have proper accounting and people with financials skills to get licensed. It’s unlikely that the Japanese government would have granted such authority to a company run by a 27-year-old computer genius with no financial background.”
We live in what the German political scientist Ernst Fraenkel called “the dual state.” Totalitarian states are always dual states. In the dual state civil liberties are abolished in the name of national security. The political sphere becomes a vacuum “as far as the law is concerned,” Fraenkel wrote. There is no legal check on power. Official bodies operate with impunity outside the law. In the dual state the government can convict citizens on secret evidence in secret courts. It can strip citizens of due process and detain, torture or assassinate them, serving as judge, jury and executioner. It rules according to its own arbitrary whims and prerogatives. The outward forms of democratic participation—voting, competing political parties, judicial oversight and legislation—are hollow, political stagecraft. Fraenkel called those who wield this unchecked power over the citizenry “the prerogative state.”
pCell demonstration at Columbia
Mobile Bandwidth Revolution
- Massively breaks through physics based bandwidth limits
- Small attractive Cells transceivers can be place almost anywhere
- Can be deployed incrementally in parallel to present cell technologies
- Full Cell bandwidth available to every user
- Cells and mobile devices use much less power
- Works with present mobile phone devices
- Work over mobile, other and even unassigned spectrums
- Can out perform DSL and traditional cable to deliver home internet
The D-Lightful Vitamin D for Good Health
- Dr. Michael Holic
If you think this is not imortant to you ?
YOUR WRONG !
Dr. Stasha Gominak - Sleep and Vitamin D
Maybe Logic:The Lives & Ideas of Robert Anton Wilson
Discordians don’t have dogmas, which are absolute beliefs; we have catmas which are relative meta-beliefs. And the central discordian catma is- any affirmation is true in some sense, false in some sense, meaningless in some sense, true and false in some sense, true and meaningless in some sense, false and meaningless in some sense, and true and false and meaningless in some sense. And if you repeat this 666 times, you will achieve supreme enlightenment — IN SOME SENSE! — Robert Anton Wilson