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Matt Kuenzel
Permanent Student / Entrepreneur / Programmer
Permanent Student / Entrepreneur / Programmer
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Non-News = boring, not a crisis, not easily politicized, but interesting in its quotidian way.

Food prices in the U.S. -- rising 2.1% annually 1997-2017.
Median family income in the U.S. -- rising 2.3% annually 1997-2017.
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5/27/17
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Kathrine Virginia "Kathy" Switzer (born January 5, 1947, in Amberg, Germany) is an American author, television commentator and marathon runner. In 1967, she became the first woman to run the Boston Marathon as a numbered entry.
During her run, race official Jock Semple attempted to stop Switzer and grab her official bib; however, he was shoved to the ground by Switzer's boyfriend, who was running with her, and she completed the race. It was not until 1972 that women were allowed to run the Boston Marathon officially.
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And the obsolete traditional financial "experts" still call Bitcoin a fluke! ... "These are not currencies in any meaningful sense. To the extent that some retailers accept them is a bit of a novelty and marketing fluke. Some of the larger businesses, like Virgin, who previously indicated a willingness to accept Bitcoins as payment, reportedly convert such payments into hard currencies. It is a gimmick, not confirmation of its currency status."

http://www.marctomarket.com/2017/05/do-higher-prices-make-crypto-assets.html

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And the obsolete traditional financial "experts" still call Bitcoin a fluke! ... "These are not currencies in any meaningful sense. To the extent that some retailers accept them is a bit of a novelty and marketing fluke. Some of the larger businesses, like Virgin, who previously indicated a willingness to accept Bitcoins as payment, reportedly convert such payments into hard currencies. It is a gimmick, not confirmation of its currency status."

http://www.marctomarket.com/2017/05/do-higher-prices-make-crypto-assets.html

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NASA Shuttle Launch cockpit view: My heart was pounding just watching this. I wonder how they felt. They all appeared perfectly calm.


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Congressional leaders are very unhappy with the IRS summons to Coinbase

[photo: Representative Kevin Brady, chairman of the House Ways and Means Committee]

From the letter to the IRS from the three Members of Congress:

"... the IRS issued a summons to Coinbase requiring the records of all American Coinbase customers who conducted transactions in convertible digital currency between January 1, 2013 and December 31 , 2015. The summons is estimated to affect 500,000 active Coinbase customers and would result in the production of millions of pages of associated records, many of which contain personally-identifiable information. However, 90 percent of these customers engaged in less than $10,000 in cumulative, gross transactions during the entire period requested.

According to the Internal Revenue Code (IRC), the issuance of this type of summons - called a John Doe Summons - requires the government to establish that the summons pertains to an ascertainable class of persons, whose identity is unknown, and with respect to whom the IRS has a "reasonable basis" for the belief that the individuals have failed to comply with tax laws. However, we strongly question whether the IRS has actually established a reasonable basis to support the mass production of records for half of a million people, the vast majority of whom appear to not be conducting the volume of transactions needed to report them to the IRS. Based on the information before us, this summons seems overly broad, extremely burdensome, and highly intrusive to a large population of individuals. The IRS's actions in this case also set a dangerous precedent for companies facilitating virtual currency transactions that could be subject to a similar summons."

https://waysandmeans.house.gov/wp-content/uploads/2017/05/2017.05.17-Coinbase-Letter-Hatch-Brady-Buchanan.pdf
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A “TPU pod” built with 64 second-generation Google TPUs delivers up to 11.5 petaflops. That's 11,500 teraflops or equivalent to about 7,000 Macbooks with a high-end GPU.

https://blog.google/topics/google-cloud/google-cloud-offer-tpus-machine-learning/
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