We are developing the social individualist meta-context for the future. From the very serious to the extremely frivolous... lets see what is on the mind of the Samizdata people.

Samizdata, derived from Samizdat /n. - a system of clandestine publication of banned literature in the USSR [Russ.,= self-publishing house]

My 2015 in pictures

Like Michael Jennings, I end my 2015 blogging efforts here at Samizdata with a clutch of pictures. Unlike Michael, I haven’t managed to do anything like this for every one of the last ten years. I did do something similar two years ago, but this time last year my retrospective attention was concentrated on the speakers at my monthly meetings, without any pictures of them.

I began my 2015 in France.

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The blockchain and what it might do to banking and finance (and other things besides)

In a matter of months, this word, blockchain, has gone viral on trading floors and in the executive suites of banks and brokerages on both sides of the Atlantic. You can’t attend a finance conference these days without hearing it mentioned on a panel or at a reception or even in the loo. At a recent blockchain confab in London’s hip East End, the host asked if there were any bankers in the room. More than half the audience members, all dressed in suits, raised their hands.

Bloomberg Magazine.

Okay, what the F**k is a blockchain (one word or two?),
…continue The blockchain and what it might do to banking and finance (and other things besides)

This is not going to end well (Part 38,239)

This was tweeted by Dominic Frisby earlier today:

As he says: “1st-time-buyer earnings-to-house-price ratio in London. Gulp. And London 1st-time-buyers are old too … ”

The moment interest rates go up, even slightly, there is going to be an almighty collapse.

My year in speakers

So here I am in Brittany, alternating between writing this and getting stuck into a New Year’s Eve feast, which explains any typos in what follows, and which is also making me ponder New Year resolutions. One of mine is to write rather more for Samizdata than I have been doing lately, which will not be hard. The idea was that resuming my Last Friday of the Month meetings, which I did in January 2013, would give me more to write about here, but the truth is that there is never any shortage of stuff to write about for Samizdata.
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Bitcoin: The Future of Money?

Dominic Frisby’s book Bitcoin: The Future of Money? is now available.

The first chapter describes what Bitcoin is and how it works. The achievement of this chapter is that Dominic has described Bitcoin in plain English without missing any important details and without simplifying to the point of error. Too often when I read writing intended for the general audience about something I know about, I notice how wrong it is and how ill informed the general audience must be about all things. Not here.

Technical description out of the way, the rest of the book deals with the
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Detlev Schlichter is back

Incoming from Detlev Schlichter. He is back blogging. His second recent posting, the one after the one that just says he’s back, is about Bitcoin. He thinks that the Bitcoin principle, so to speak, even if maybe not Bitcoin itself, has a future:

Central bankers of the world, be afraid, be very afraid!

My own sense is that, just as Schlichter says, the world’s rulers are now stuck in a monetary prison of their own making, from which they cannot now extricate themselves. Quite a few of them understand approximately what is wrong with their current policies, even as many
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Samizdata quote of the day

The paper money of the Soviet Republic supported the Soviet Government in its most difficult moments, when there was no possibility of paying for the civil war out of direct tax receipts. Glory to the printing press! To be sure, its days are numbered now but it has accomplished three-quarters of the task. In the archives of the great proletarian revolution, alongside the modern guns, rifles, and machine guns which mowed down the enemies of the proletariat, an honorary place will be occupied by that machine gun of the People’s Commissariat of Finance which attacked the bourgeois regime in its
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Two comedians on government trying to do good things

Last night, I was half listening, not watching, a repeat of the TV comedy quizz show “8 Out Of 10 Cats” on some late night digital channel like E4 or Pick TV or some such thing. And I heard a comedian called Jon Richardson having a go at Nick Clegg, the leader of Britain’s Liberal Democrat Party.

Richardson was sneering at the Lib Dem Conference of whatever year it was when this show first went out, because so many of the things said at it, said Richardson, were boring and banal and obvious.

As an example, Richardson cited a pronouncement
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