CEF The Conscious Entrepreneurship Foundation Mon, 22 Sep 2014 00:56:42 +0000 [[language]] hourly 1 https://wordpress.org/?v=3.8.28 IRS Approves CEF’s Non-Profit Status Application /irs-approves-cefs-non-profit-status-application/ /irs-approves-cefs-non-profit-status-application/#comments Fri, 19 Sep 2014 12:00:59 +0000 /?p=282 19 September 2014, the directors of Conscious Entrepreneurship Foundation (CEF) received notification from the US Internal Revenue Service (IRS) that CEF’s application for non-profit membership organization status under §501(c)(6) of the IRS Code had been approved as of 11 September 2014.

We are very pleased with this outcome, and look forward to building momentum from here.

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Coins for Causes /coins-for-causes/ /coins-for-causes/#comments Sun, 13 Jul 2014 21:20:08 +0000 /?p=242 Conscious Entrepreneurship Foundation

presents

Coins for Causes

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Vision

To empower marginalized communities.

Mission

To help communities that are outside the mainstream advance mutual aid through intra-community trade using decentralized blockchain management systems similar to Bitcoin.

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original version: 6 June 2014

this draft: 13 July 2014

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Abstract

Satoshi Nakamoto’s 2008 “Bitcoin:A Peer-to-Peer Electronic Cash System” and the release of the first Bitcoin software in 2009 made possible, for the first time ever, purely peer-to-peer payments that pass directly between two parties anywhere in the world without going through a financial institution or relying on a trusted third party. Coins for Causes uses this same technology to issue community currency with soft or implicit backing that should maintain a reasonably stable value and create an incentive for the advancement of intra-community trade and the development of goods and services within the community for global export.

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Preface

Traditionally, a community currency—also known as alternative currency, auxiliary currency,complementary currency, local currency, private currency, or regional currency—is a medium of exchange that is intended to trade exclusively within a particular community, and is not issued or recognized by a national government or monetary authority. Examples are described in the Wikipedia article, “Local Currency.”

In addition to the benefits of a conventional community currency that circulates as tokens, paper notes, or ledger entries, a community currency issued using a decentralized blockchain management system (community coin), similar to Bitcoin (XɃT), offers the possibility of circulating in the world at large while retaining its uniqueness and driving benefits to the members of the community on whose behalf it is issued.

The defining characteristics of communities participating in Coins for Causes fall into the same three general categories used to justify the establishment of a credit union. The core users should have some common bond, whether geographical, professional, or social. However, outsiders should not be prevented from holding or speculating with the community coin, especially if by doing so they help promote its existence and support its value.

Although the examples below focus on geographical association—as this is the most concrete and easiest to visualize, and the one for which partner organizations should be the easiest to recruit—the same rationale applies to professional and social communities. Whatever the common bond, members of communities, for whom cooperative partner organizations do not exist, should see this as an entrepreneurial incentive to establish those partner organizations; in particular, credit unions, fraternal associations, and businesses to accept the community coin.

This discussion assumes that the reader is familiar with virtual currency in general, and Bitcoin in particular. Those who are not can find links to online resources in the Bitcoin Resources section at the end of this proposal.

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Background

Let us begin by imagining a section of a major city that is economically disadvantaged. Crime rates, unemployment, etc. are well above the national average, and educational achievement, household income, etc. are well below the national average.

A very large proportion of the population does not have bank accounts. When they work, they typically are paid in cash. When they are paid by check, many residents cash their checks at local check cashing windows in pawnshops and convenience stores that charge high fees for this service. Many residents also pay their electricity, water, and telephone bills at these same shops, again for relatively high fees.

A substantial proportion of many residents’ income goes unreported. For many, their primary official source of income is government welfare paid directly to debit cards that they use in local grocery stores to buy food. However, local shopping opportunities are very limited, as most mainstream merchants avoid this section of the city.

A surprisingly large proportion of the community residents own smartphones. Most of those who do not, own feature phones from which they can send SMS messages. These are the minimum physical infrastructure needed for a Coins for Causes rollout.

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Rationale

A community currency helps to bind economic activity within a community similar to the way that a national currency helps to bind economic activity within a nation-state or economic bloc of countries. It provides a demarcation between Inside and Outside. For example, one of the major driving forces behind the establishment of the euro in 1999—rather than adopting the US dollar (USD) or returning to the gold standard—was the desire to unify the economies of European Union member states into a coherent super-economy with its own unique identity.

A community currency can serve as a focal point to help a community’s members think of other community members as Us, leading them to pool resources within the community and to prefer to transact among each other—all other things being more or less equal when economically viable—rather than with merchants outside of the community. This, in turn, can lead to the creation of wealth and the building of capital within the community through the establishment of businesses specifically to supply goods and services to community members.

This is different from self-sufficiency, which involves isolating a community from the outside world. The point of a Coins for Causes community coin (CCoin) is to help community members to prefer goods and services supplied by community members, when it makes economic and social activist sense, in order to provide an incentive for individual community members to cooperate for the common good of all community members.

With concentrations of human, financial, and technological capital,community members can produce goods and services for sale outside the community, attracting capital into the community, leading to a virtuous cycle of increasing capital accumulation and export sales.

In the case of a disadvantaged section of a major city, this could include music and video, ethnic restaurants and entertainment venues,graphic design, light manufacture, software development, etc. In a geographically dispersed social community, this likewise could take the form of services, goods related to the social community’s common bond, conference registrations, etc.

The key point here is that the CCoin serves as an economic ‘picket fence’ that marks the boundary between the community and the outside, and is easily crossed when it makes sense to do so. The drive toward resource pooling, capital building, and wealth accumulation must come from withinthe community, once the boundary has been made more visible.

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Partners

The rollout of a CCoin requires the cooperation of several partners: a Core Sub-Community to champion the CCoin, perhaps a church congregation, chamber of commerce,fraternal lodge, or other tight-knit group within the community; an Endowment Manager who acts as a market maker; a financial institution, ideally a Credit Union that serves that community; and Merchants within the community to accept the CCoin.

The members of the Core Sub-Community should promote the benefits of the CCoin to Merchants and members of the community, and they should use the CCoin as ostentatiously as possible, taking every opportunity to talk with media outlets and thought leaders within the community.

The Credit Union‘s executives’ role is strictly passive. It is simply to allow an Endowment Manager to open an account to hold money raised on behalf of the community through donations and grants, and to make the balance of that account available to the public.

The money in the Credit Union account is to function de facto as backing for the CCoin,by enabling the Endowment Manager to sell any CCoin that it holds to Credit Union members and to buy the CCoin from Credit Union members at some published price. The Endowment Manager is to make a market in this way for Credit Union members only. If someone who is not a Credit Union member—within the community or in the outside world at large—wants to buy or sell CCoin, then that person must negotiate with CCoin holders directly, or find a third-party exchange that trades in the CCoin. Also, if no one within the community is ready, willing, and able to manage the endowment,an outside adviser might be needed. However, this should be treated as a volunteer project, and not as a lucrative consulting opportunity.

It must be stressed here that the Endowment Manager is not the CCoin issuer. As is the case with XɃT, the issuer is the system itself that consists of many copies of apiece of software that run on users’ computers and collectively manage a distributed—and, ideally, decentralized—blockchain (see References for technical explanations). Granted, the Endowment Manager might mine CCoins, but this should be on behalf of the community, for sale to community members through the endowment fund, and with no advantage over any other miners in the system.

The role of community Merchants is accept the CCoin for goods and services at some fixed, published rate, and perhaps even to offer discounts to CCoin customers and clients; and to pay as many employees and vendors as possible with the CCoin, in order to keep it in circulation. When selling goods and services to customers and clients outside of the community, especially internationally, the Merchants should express a strong preference for being paid in CCoin. This should increase demand for the CCoin in the world at large, thereby providing additional support for its market value.

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Structure

The illustration below depicts the basic structure of the CCoin economy. The Endowment Manager fundraises for donations, applies for grants, and resells any CCoins in its possession, and holds the proceeds in an account with a Credit Union that serves the community on whose behalf the CCoin is issued. Community members who hold CCoins use them to buy goods and services from community Merchants. Though not depicted here, the Merchants, in turn, pay as many employees and vendors as possible with CCoins, in order to keep the CCoins in circulation for as long as possible, safe in the knowledge that anyone who is a Credit Union member can convert the CCoin into national currency—’real’ money—at any time.

CCoin.01

To support the CCoin’s value, the Endowment Manager stands ready to buy CCoins from and sell CCoins to Credit Union members at a price equal to the total value in the endowment account divided by the ultimate number of CCoin units that will circulate. For example, if the Endowment Manager secured a community grant of $100,000 and the CCoin circulation were capped at 10 million units, the Endowment Manager would set the CCoin price at 1¢ per unit, giving each CCoin the equivalent purchasing power of a penny. If the Endowment Manager raised more for the endowment fund, then each CCoin should grow in value proportionately.

Note that the Endowment Manager will transact in this way onlywith Credit Union members,who must be members of the community in order to qualify for Credit Union membership. For the CCoin to provide an incentive for community members to cooperate economically over the long run, selling CCoins to the Endowment Manager should be discouraged through social pressure within the community, but the Endowment Manager should perform its market making role efficiently and openly at all timesand focus its efforts on reselling any CCoins in its possession, rather than create barriers to buying them from community members.

The idea here is to focus on the carrot rather than the stick, on the expectation that, if CCoin holders within the community know that exiting the system is easy,then the need to do so should be less pressing in the short run. For example, if one held $100 worth of CCoins, and one did not need $100 immediately— andone knew that one could sell the CCoins on a moment’s notice at a known price—then one might be indifferent between holding the CCoins for the time being and converting them to dollars now.

CCoin.02 CCoin.03

Because the ultimate quantity of CCoins is to be capped, ifCCoin users work with the Endowment Manager tofundraise, apply for grants, and promote the sale of CCoins outside the community, then long-term holders should see the value of their CCoins rise in proportion to the growth of the endowment fund. While some individual holders might treat CCoins like passive investments, if all holders did so the velocity of circulation—and thus the value—would fall.For this reason, CCoins should be promoted as a medium of exchange and notas an investment.

In order to drive global demand for CCoin, it should be ‘mined’, as XɃT is mined, by anyone anywhere in the world who wants to do so. To encourage this, the Endowment Manager should arrange for CCoins to be traded on at least one Virtual Currency Exchange that carries XɃT and virtual currencies other than XɃT (altcoins).

CCoin.04

Entrepreneurial community members who decide to bridge the gap between those outside the community and the Endowment Manager by providing CCoin exchange services should be encouraged to do so, within statutory and regulatory rules. The point of the CCoin is to create incentives for the creation of valuable goods and services within the community.

Unlike the case with most altcoins, each community’s CCoin Endowment Manager will act as a market maker to support the CCoin’s initial value. However, this market maker will transact directly only with community members who hold accounts at the Credit Union where the Endowment Manager holds the community’s CCoin endowment account.

CCoin miners outside of the community who prefer not to hold the CCoins that they mine will have to trade their CCoins for XɃT or some other altcoin on a Virtual Currency Exchange (as per the illustration above), use them to buy goods and services from community Merchants, or sell them to community members (see illustration below), who in turn can use them to buy goods and services from community Merchants or sell them to the Endowment Manager.

CCoin.05

In this way, the Endowment Manager’s role of market maker provides a means by which anyone in the world who transacts with CCoins can form reasonably stable expectations of their value, but only community members have access to this market maker directly.

In the worst-case scenario,community members could reject the CCoin and sell it to the Endowment Manager as quickly as it is mined and transferred to a Credit Union member. This would leave the Endowment Manager with an empty Credit Union account and a hoard of potentially worthless CCoin. In this case, the experiment would have failed and the endowment funds would have been dissipated into the community.

In the worst-case scenario, some of the community members would enjoy a fleeting windfall, and the community would be back at Square One. This is why enlisting the aid of a Core Sub-Community is critical before the initial CCoin rollout.

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Community Economics

A CCoin helps to create a kind of economic ‘picket fence’ that marks the boundary between the community and the outside, reminding users to prefer to buy from those who have some tie to the community as much as possible. In order to attract money into the community and concentrate it there,community members should sell goods and services bothwithin and outside the community, and create incentives for buyers to transact using the CCoin.

In order to avoid creating incentives to send money out of the community, Merchants must provide goods and services that are demanded within the community, including food, entertainment, professional services, etc.

In the early stages of a CCoin rollout, the units in circulation derive their initial value from an endowment consisting of the proceeds of donations and grants. As described above, if the initial endowment consists of a $100,000grant paid into a community Credit Union account, and the total number of CCoin units is capped at 10 million, then the CCoin is expected to have an initial market value of approximately 1¢. When the Endowment Manager buys CCoin from community members, it offers the CCoin for sale back into the community, in order to keep the value of the endowment fund more or less constant.

A CCoin issued on behalf of a professional or social community, rather than a geographical community, can substitute—for the Credit Union/Endowment Manager combination described above—a wealthy benefactor or group of activists in the role of market maker. The critical point is that the market maker will transact directly only with members of the community, and that outsiders will have to negotiate with community members on an ad hocbasis or via an altcoin exchange.

CCoin Supply & Demand : Day One

CCoin.06

In the illustration above, the price floor (E/Q*) is the number of dollars—or whatever currency serves as legal tender in the community—in the endowment fund (E) divided by the total cap (Q*) on the number of CCoin units that will circulate. In the examples earlier, this was $100,000/10 million CCoins = 1¢ per CCoin. The supply curve is vertical,because Q* is fixed before the CCoin is issued. The demand curve is kinked, because the price should never fall below 1¢ per CCoin, given the presence of the market maker.

A Core Sub-Community—a chamber of commerce, church, business incubator, fraternal lodge, or other influential group within the community—is needed to promote the benefits of the CCoin to Merchants and other members of the community. The Core Sub-Community should work with community members to promote the CCoin, discover innovative uses for the CCoin, develop goods and services for sale both within and outside of the community,and eventually embrace the CCoin as ‘our’ medium of exchange and store of value. (Most likely, the unit of account and measure of value will continue to be the legal tender of the larger national economy.)

If the CCoin catches on,especially if community merchants develop markets outside of the community, this can lead to an increase in demand for the CCoin and cause its market value (P’)to rise above the floor set by the Endowment Manager. Any such premium that emerges can be used as a measure of the community’s economic development.

CCoin Supply & Demand : Over Time

CCoin.07

Because of the limited CCoin supply—fixed in the software before it is issued—if more and more community Merchants embrace it and find bigger and bigger markets that use it as a medium of exchange, then the value of goods and services offered in exchange for CCoin could rise above 1¢ for every CCoin. When this happens, no one would sell CCoins to the Endowment Manager at the fixed floor price, since they could sell them to someone else for more. Because no one sells CCoins to the Endowment Manager, it never has any to sell at 1¢, and people must pay the higher market price for them. At this point, the CCoin would have its wheels off the ground and be able to fly on its own.

When this happens, the endowment fund can be left to accrue interest in the Credit Union, and maybe even be supplemented with ongoing fundraising and grants. However,the CCoin should derive its value from market expectations of future sales by community Merchants, rather than from the reserves held in the endowment fund.

If community members expect that the CCoin value will grow over time, this could create an incentive for them to budget for savings, rather than immediate consumption beyond necessities and a comfortable lifestyle. This, in turn, should put downward pressure on prevailing interest rates within the community, enabling the expansion of credit for business and real estate development.

After the CCoin’s market value has stayed above the Endowment Manager’s floor for some reasonably long amount of time—e.g., one year—the Endowment Manager, CCoin users, and donors can discuss putting the endowment fund to some community use, rather than leave it sitting idle in the Credit Union. If an endowment agreement exists, then the rules for calling this decision should be included in it.

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Conclusion

A Coins for Causes community currency (CCoin) with soft or implicit backing, and built on the same technology used by Bitcoin and other virtual currencies, should maintain a reasonably stable value during its early rollout phase and create incentives for the advancement of intra-community trade and the development of goods and services within the community for global export. As the use of this CCoin catches on, its value should derive from the productivity of the community members on whose behalf it is issued, leading to positive side-effects including the accumulation of wealth within the community and the reduction of interest rates.

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Getting Started

Rolling out a CCoin is relatively straightforward. Anyone interested in initiating this kind of project who is unfamiliar with any of the items below can turn to Conscious Entrepreneurship Foundation for guidance at ConsciousEntrepreneurship.org.

  1. Identify a community and a core sub-community within it to promote the CCoin. Nominate an endowment manager.
  2. Choose a name and a logo,register a catchy domain name, set up a website, and get up to speed on the current state of the art in the virtual currency ecosystem.(See Bitcoin Resources below.)
  3. Prepare a project plan and presentation (based on this document, if necessary). Identify a credit union that serves the community and is run by individuals who are willing to open an account for the CCoin’s endowment manager. If possible, have the credit union publish the balance of the CCoin account where members of the public can find it easily.
  4. Have a programmer fork the code of an existing open source virtual currency. Release PC wallets for Linux, Mac, and Windows, and smartphone wallets for Android and iOS. Offer an online wallet if and only if the programmer is actively involved with the project.
  5. Recruit merchants to accept the CCoin, and encourage them to promote it to their employees and vendors.
  6. Fundraise for donations to the endowment fund and prepare grant proposals for wealthy individual donors,community development foundations, and government agencies.
  7. Promote the CCoin to every information and news outlet possible that is involved with virtual currency, the support of this kind of community, or special interest news.
  8. Arrange to have the CCoin listed on at least one altcoin exchange.

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References

Bitcoin Wiki : https://en.bitcoin.it/wiki/Main_Page

Brito, Jerry and Andrea Castillo, “Bitcoin:A Primer for Policymakers” : http://mercatus.org/sites/default/files/Brito_BitcoinPrimer_embargoed.pdf

Custodio, Nick, “ExplainBitcoin Like I’m Five” : https://medium.com/future-of-currency/73b4257ac833

Feito, Alvaro, “Big Book of Bitcoin” : http://alvarofeito.com/articles/the-big-book-of-bitcoin/

Khan Academy, “Bitcoin, What Is It?” : https://www.khanacademy.org/science/core-finance/money-and-banking/bitcoin/v/bitcoin-what-is-it

Nakamoto, Satoshi, “Bitcoin:A Peer-to-Peer Electronic Cash System” : https://en.bitcoin.it/wiki/Bitcoin_white_paper

Second Market’s Bitcoin Education Center : https://www.secondmarket.com/education/learn/bitcoin-education-center

Udemy, “Bitcoin, Or How I Learned to Stop Worrying and Love Crypto” : https://www.udemy.com/bitcoin-or-how-i-learned-to-stop-worrying-and-love-crypto/

Wikipedia, “Local Currency” : https://en.wikipedia.org/wiki/Local_currency

Bitcoin Resources

Bitcoin Magazine : http://bitcoinmagazine.com/

Bitcoinity: Live Bitcoin Price Feeds : http://www.bitcoinity.org/markets

CoinDesk : http://www.coindesk.com/

CoinTelegraph : http://cointelegraph.com/

Crypto-Currency Market Capitalizations : http://coinmarketcap.com/all.html

Reddit/Bitcoin : http://www.reddit.com/r/bitcoin

Conscious Entrepreneurship Foundation

Website :

Facebook : https://www.facebook.com/groups/conscious.entrepreneurship/

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Open Challenge to Mark Williams /open-challenge-to-mark-williams/ /open-challenge-to-mark-williams/#comments Tue, 01 Jul 2014 00:01:44 +0000 /?p=225 This is an open challenge to Mark Williams, Master Lecturer in Boston University’s Department of Finance and Economics [1], based on my previous post about prophets with no skin in the game.

Mr. Williams predicted in December 2013 that the price of a whole unit of Bitcoin would fall below $10.00 in the first half of 2014. As the deadline bore down, and it was becoming clear that his prediction would be off by more than one and possibly even by two orders of magnitude, Mr. Williams backpedaled by pointing out, “[A]sset bubbles cannot be easily timed.” [2]

One wonders if Mr. Williams would have been so understated, if his powers of divination had not failed so completely. There is only one way to know, and that is give him a shot at redemption, but in broader terms than his original blunder, because not only are asset bubbles difficult to time accurately, they are impossible to time consistently.

Of course, every now and then someone somewhere might guess correctly about the outcome of some future event, but if this counts as successful forecasting, then one might as well treat lottery winners and weather reporters with similar deference. It isn’t enough to call some event in advance; one must demonstrate the ability to do so repeatedly, and without an equivalent number of failed predictions.

Were this not true, the prescient could foretell business cycle inflections and reap cost-free arbitrage profits. However, the No Arbitrage Assumption is as fundamental to Finance as the Law of Supply and Demand is to Economics. Although arbitrage opportunities might exist for fleeting moments—as supply-&-demand violations might occur from time to time—they are the stuff of high-frequency, intra-day trading, and useless for prophesying asset prices and market conditions months or years in advance.

Mr. Williams has asserted, “Will this bubble be completely deflated in the next six months to a year? Time will tell… If the question is, ‘Do I still see bitcoin dropping to these much lower levels in the future?’ The answer is yes.” [2]

To this end, I offer Mark Williams the following wager:

Choose a date. Cherry-pick the peak of an upcoming runup, if you like.

Then, if the US dollar price of a whole unit of Bitcoin falls to 10% of the price on that date before it rises to 10x the price on that date, then you win, and I will give you 100 bitcoins.

If, on the other hand, the price rises to 10x before it falls to 10%, you give me 100 bitcoins.

No embarrassing time limit. Just let it run until one of us wins.

If these terms are unacceptable, I am more than happy to negotiate some alternative.

Either way, each of us should bear the cost of his expectations, especially when sharing those expectations with others.

After all, if one does not have any skin in the game, it’s just economics.

Notes

[1] http://www.bu.edu/energy/people/faculty/bio-williams/ [return]
[2] http://www.coindesk.com/mark-t-williams-bitcoin-bulls-time-will-vindicate-prediction/ [return]

Dr. Evans is a veteran of the first Moneypunk cycle during the 1990s Dot.Com Era and co-founder the Conscious Entrepreneurship Foundation, which is dedicated to using decentralized blockchain management systems in fulfillment of the Bono Declaration: “Capitalism takes more people out of poverty than aid.” He has taught Economics and Finance for more than a decade, and is having the time of his life riding the Bitcoin Rollercoaster to teh moonz.

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Prophets with No Skin in the Game /prophets-with-no-skin-in-the-game/ /prophets-with-no-skin-in-the-game/#comments Mon, 30 Jun 2014 22:04:01 +0000 /?p=214 When one practices idle fortunetelling in private that fails to materialize, very little harm might be done. On the other hand, when one holds oneself out as a public intellectual and issues prognostications with a bombastic air of authority, and others make investment and career decisions based on those claims, the potential for harm is great. After all, if one did not expect others to heed one’s advice, then there would be no point in volunteering it in the first place!

Consider that one could have bought a whole unit of Bitcoin for about $13.50 in January 2013. If one had been about to roll the dice then and buy 100 bitcoins at that price, but decided against it based on some recent apocalyptic scribblings by Paul Krugman, or the guffaws of some gadfly on television, then one would have missed out on a gain of more than 40x—from $1,350 to $60,000+—over the course of the following year, and this in spite of a system-threatening hard fork and two ‘crashes’ during that period!

Now, was there any guarantee of such a gain at the beginning of the 2013? Of course not! In the long run, all risk-adjusted returns are equal—again, because of the No Arbitrage Assumption—and the fantastic returns reflected the mind-cracking risk. And, one who had implied that the price of Bitcoin definitely would skyrocket should have been held as accountable for such pecuniomancy as we hold any other huckster.

Those who convince others that they can divine the future should bear the full cost when their clairvoyance fails, and they do risk fines and imprisonment when promising positive outcomes. The problem is that while the promoters of dodgy investment schemes violate financial statutes and regulations, naysayers can trash-talk potentially viable opportunities with impunity.

No one who has sneered at Bitcoin and declared it to be a Ponzi scheme and worse, risks hearing an ominous regulatory knock on the door, in spite of having scared countless speculators away from potentially lucrative investments. However, woe betide anyone who convinced friends, family, and especially strangers to buy Bitcoins at $1,000 at the end of 2013, only to see the value plunge by more than half before rising to the $600s in mid-2014. In both cases, one’s advice would have cost others dearly, if they followed it, but only the positive adviser bears any personal risk, even though the naysayer is equally culpable.

In an ideal world, those who have nothing to lose should their pontification prove to be woefully inaccurate would be ignored, if not openly mocked. This, unfortunately, is not the case, and appeals to authority, popular sentiment, and tradition rarely inspire the kinds of public derision that all logical fallacies passed off as analysis should inspire.

It is one thing to hold an opinion, no matter how ill-informed, because we cannot be experts in all things, and each of us must make potentially life-changing decisions almost daily. If one’s guess is correct, then one gains; and, if one’s guess is incorrect, then one loses. The goal is to be right more often than wrong.

It is another thing entirely to treat an opinion as fact, personal taste as a universal moral principle or law of nature, or a hypothesis as a foregone conclusion.

And, it is something bordering on sinister to offer opinions and hypotheses as self-evident truths that others ignore at their own peril, especially if the opinionsmith holds a position of some authority.

If one does not have any skin in the game, it’s just economics.

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So it begins… /so-it-begins/ /so-it-begins/#comments Wed, 29 Jan 2014 10:58:44 +0000 /?p=113 On the eve of the Year of the Horse (2014), the Conscious Entrepreneurship Foundation (CEF) began operations, with the vision of realizing the Bono Declaration:

Capitalism takes more people out of poverty than aid.

CEF was incorporated in the State of Florida (USA) 21 November 2013. The application for non-profit status as a 501(c)(6) business league is complete and has been submitted to the IRS (US tax authorities).

Our primary focus now is to secure a space in South Florida large enough to house CEF and related projects, and to provide members with a workspace. We have ambitious plans that we will report on as we begin to undertake them.

In the meantime, feel free to comment here and to join our Facebook group.

CWEvans

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