Thank you for this post. The analogy to space and property values in Dubai...perfectly clear. A city surely growing on overinflated speculative wealth —and the fantasies of power that go with it—-not to mention other cities, maybe Shanghai, that attract foreign, western capital.
Operative word: Accumulation—from data—living data —-aesthetically in the arts we lean in post-global directions and scope, visualized by wide-angle drone shots, GIS, and data visualizations that “take in the whole picture” — Accumulation and organization of data to take in the whole - -thievery of fractional parts of someone’s bank interest x 1 kabillion tent thefts = tidy sum; -ubiquitous delivery systems for payment, scooping up dollars -The decentralization of accounts - capacity to hide ones money off shore, etc. -an excess of fees -“mining”, “data mining” as paradigm, perceptual shift —imagined as a vastness from which one takes (nature) - - On Thu, Dec 14, 2017 at 1:21 AM Felix Stalder <fe...@openflows.com> wrote: > > Bitcoin seems, to me, to indicate how much criminal, speculative money > there is out there, seeking risk worth taking, rather than "investing" > in a traditional sense. There is simply too much money held by too few > people who now trade it among themselves, rather than seeking to extract > surplus value from labor. There are only so many apartments one can buy > in Dubai and all that money needs to go somewhere. > > Take the bitcoin exchange rate of the last three years as a fractal > image of the income/wealth distribution of the last thirty years. > Exponential acceleration within exponential acceleration. > > That vehicle that this money latched onto is about the utopia of machine > peerage, tells us something about the state of the world, in which > technical thinking dominates and people simply don't count and, as long > as they remain necessary, most of them are forcefully written out of the > story. For a micro-account how invisibility is created/enforced, see > Andrew Wilson's great work "Workers Leaving the Googleplex" > > https://vimeo.com/15852288 > > Machines, as Morlock pointed out, are simply more efficient at > everything (often in practice, but particularly in theory), in part > because we defined the world -- and ourselves -- in machine terms, by > accepting information theory as communication theory. > > Back to the excess money. The sane option would be to tax that money, > but doesn't look likely in the US/EU, so the other option to break that > extremely unstable distribution of income and wealth become more likely: > war. Historically, this is how I understand Piketty, there have only > been these two options. > > > > > > > > On 2017-12-13 20:41, Morlock Elloi wrote: > > Bitcoin successfully hijacked a sizable amount of public belief, which > > underwrites any fiat currency, and it doesn't get more fiat than Bitcoin. > > <...> > > > > -- > > ||||||||||||||||||||||||||||||||| http://felix.openflows.com > |OPEN PGP: https://pgp.mit.edu/pks/lookup?search=0x0C9FF2AC > > # distributed via <nettime>: no commercial use without permission > # <nettime> is a moderated mailing list for net criticism, > # collaborative text filtering and cultural politics of the nets > # more info: http://mx.kein.org/mailman/listinfo/nettime-l > # archive: http://www.nettime.org contact: nett...@kein.org > # @nettime_bot tweets mail w/ sender unless #ANON is in Subject:
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