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“…Finally, consider the things that people do want to spend their money on. The defining consumer product of our age is the smartphone. A smartphone is a good, and it takes resources to make and transport it. Still, it takes a lot less resources than, say, a car. Most of its value is in the software that is loaded onto it and the people, information and entertainment you can connect to with it. That’s a different sort of value creation than 20th-century resource-based value creation. If that’s the direction the global economy is headed in, the connections between growth, trade and resource consumption aren’t going to be the same as they have been. That is probably a good thing.” — Justin Fox

http://www.bloombergview.com/articles/2015-08-31/maybe-this-global-slowdown-is-different

“Diets don’t work tomorrow. But every diet works.

Habits don’t change in a day. But 1% a day makes every habit work. Every.

The reason is: they work if you do a little each day. If you relax and give yourself permission to only improve a little each day, then a good habit works.

It’s permission to improve. It’s also permission to fail. Because when you first start something, you’re on day one.

If you want to succeed at anything, you have to give yourself permission to fail twice as much as you thought you would.”

“Improve a little each day. It compounds. When 1% compounds every day, it doubles every 72 days, not every 100 days. Compounding tiny excellence is what creates big excellence.

You can’t be a master in one day. You have to improve a little every day.

Picasso created 2 works of art a day. That’s 50,000 in a lifetime. It adds up.”

“Actions are outside of the head or body. Take 1% action per day. …”

“…It doesn’t happen in one day. There are no goals. There’s only practice. Practice never makes perfect. Practice makes happy. Practice makes habits.”

https://medium.com/life-learning/the-1-rule-for-creating-all-habits-53aa3f10bc5d

“The Bitcoin protocol follows a declining block reward schedule, whereby the number of bitcoins awarded for confirmed blocks halves every 210,000 blocks. The halving of the block reward is a significant negative shock to miners’ revenue, similar to a large discrete price decrease.”

http://libertystreeteconomics.newyorkfed.org/2015/08/entry-and-exit-leads-to-zero-profit-for-bitcoin-miners.html#.VeG3130oef4

“The first waves of investments in the Bitcoin ecosystem have focused on mining, retail payments, merchant/transaction acquisition, store of value, mobile wallets, exchanges. None of these have wide application with the public at large or financial institutions nor do I see wide application in the future based on current technology limitations or current regulatory constraints. I also do not believe in wide applicability across many work flows and processes in financial services and with incumbents to be more precise. Further, tacking onto a unique Blockchain many different use cases, many different apps may end up weakening said blockchain for that matter”

http://finiculture.com/distributed-ledgers-part-i-bitcoin-is-dead/

“Revival of a once celebrated name is a harder sell than rediscovery of an unknown one.”

— H.J. Jackson, professor emerita at the University of Toronto and distinguished scholar of 18th-century and Romantic British literature, writes in Those Who Write for Immortality

http://chronicle.com/article/How-Literary-Fame-Happens/232537/

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