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Sorry Silicon Valley Liberals, Freedom of Thought Is Too Important to Mess With

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Peter Thiel at RNC 2016

Silicon Valley is on fire because venture capitalist Peter Thiel, after speaking in support of Donald Trump at the Republican National Convention, is donating $1.25 million to Trump’s campaign through a combination of super PAC donations and funds given directly to the campaign, The New York Times reported.

Project Include, led by Former Reddit CEO Ellen Pao, is breaking off its relationship with start-up incubator Y Combinator (YC) in protest against Thiel’s association with YC as part-time partner.

“While all of us believe in the ideas of free speech and open platforms, we draw a line here,” says Pao. “We agree that people shouldn’t be fired for their political views, but…” it appears they don’t really agree. Same for free speech.

Gizmodo writer J.K. Trotter thinks YC president Sam Altman should resign.

Altman penned a post to elaborate on YC’s choice to keep Thiel on board. After explaining that he is a Clinton supporter and considers Trump as “an unprecedented threat to America” who “shows little respect for the Constitution, the Republic, or for human decency,” Altman goes to the heart of the matter:

“[As] repugnant as Trump is to many of us, we are not going to fire someone over his or her support of a political candidate. As far as we know, that would be unprecedented for supporting a major party nominee, and a dangerous path to start down.”

Altman’s position is reasonable and principled, in the spirit of a quote often attributed to Voltaire:

I disapprove of what you say, but I will defend to the death your right to say it.

Needless to say in today’s political climate, Altman is not finding many supporters. There are exceptions though. The Week columnist Pascal-Emmanuel Gobry, for one, is persuaded that “[the idea] that speech that makes anybody uncomfortable should be prohibited [is] incompatible with liberal democracy as we classically understand it.”

Gobry is no Trump supporter. On the contrary, he called Trump “a proto-fascist” and believes Trump is a person “manifestly temperamentally unfit to be president,” whose campaign “is unhealthily stoking dark forces in the American psyche.”

But Gobry points out that Silicon Valley liberals, in pursuit of their otherwise worthy effort to promote diversity when it comes to underrepresented groups, are endangering the equally important diversity of opinion. Silicon Valley, and America, are what they are because they have tolerated diversity of opinion and encouraged freedom of thought and freedom of speech.

So far.

“Diversity of opinion is painful but critical to the health of a democratic society,” added Altman in a tweet.

We can’t start purging people for political support.

A somewhat unexpected defense of freedom of thought and speech came from Facebook creator Mark Zuckerberg, CNN Money reports. “We can’t create a culture that says it cares about diversity and then excludes almost half the country because they back a political candidate,” said Zuckerberg in a post shared only with Facebook employees. “There are many reasons a person might support Trump that do not involve racism, sexism, xenophobia or accepting sexual assault.”

The authenticity of Zuckerberg’s post has been confirmed by Facebook. The first comment in a YC’s Hacker News thread dedicated to Zuckerberg’s remarks says it all:

If everyone looks different but thinks the same, that’s not real diversity.

Shaming and Mobbing Practices Have No Place in a Liberal Democracy

"Culture" of shamingI guess Thiel is one of those persons that, as Zuckerbers says, support Trump for reasons that do not involve racism, sexism, xenophobia or accepting sexual assault. To my knowledge. Thiel is no racist or xenophobe, and has never sexually assaulted anyone. It’s worth noting that Thiel was the first man ever to say “I’m proud to be gay‘ at a Republican National Convention, and donated $2 million to the campaign of Carly Fiorina (who, for those who didn’t notice, happens to be a woman). To me, raised in the old-fashioned belief that facts count more than empty words, these facts indicate that calling Thiel homophobic or sexist is, to say the least, surreal.

Peter Thiel is a visionary thinker who believes, for reasons that must make sense to him, that a Trump presidency would be good for the nation and the world. I disagree. But we must reply to Thiel’s arguments with better arguments, not with shaming and mobbing practices that have no place in a liberal democracy.

I am not an American, but I have given a lot of thought to the upcoming US elections. As a foreigner who will be affected (like everyone else on the planet) by America’s choice on November 8, and as a friend of America, I hope Clinton wins.

But I don’t condemn Trump’s supporters. On the contrary, I agree with Zuckerberg: almost half of the population of the US support Trump for reasons that, in many cases, deserve consideration.

I agree with Altman and Gobry: tolerance, freedom of thought, and freedom of speech, are among the foundations of a healthy society, among the greatest conquests of modern liberal civilization, and much too important to mess with.

Unfortunately, many US “liberals” – I can’t resist putting the word between scare quotes – are disowning these fundamental liberal values. The “liberal” Politically Correct (PC) thought police keeps harassing all those who dissent with shaming and mobbing practices that are running amok, often with the silent approval of the “liberal Left.” In my opinion, this trend is a dangerous slippery slope to a very bad place.

The Thiel episode is but the last of many similar cases. Tesla Motors and SpaceX founder Elon Musk was recently attacked by the media because… he doesn’t follow enough women on Twitter.

A few weeks ago Palmer Luckey, the creator of Facebook’s Oculus Rift Virtual Reality (VR) headset, was outed as a backer of a Trump fan group called “Nimble America.” Some VR developers said they intended to stop developing for the Rift until Luckey is gone.

But other developers resisted the public shaming wave. One said:

I absolutely support him doing whatever he wants politically if it’s legal.To take any other position is against American values.

Well said.

And don’t forget last year’s BullShirtStorm.

Disclaimer: The views expressed in the article are solely that of the author and do not represent those of, nor should they be attributed to Hacked.

Images from Republican National Convention (screenshot) and Wikimedia Commons.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Giulio Prisco is a freelance writer specialized in science, technology, business and future studies.




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EOS Price Forecast: EOS/USD Heading for Another 300% Move?

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  • EOS/USD price action via the 4-hour chart view has formed a bullish flag pattern.
  • The price is moving around levels seen back end of March to early April, before a bull run of over 300%.

The past six sessions for EOS/USD have been erratic to say the least. It has been subject to a high amount of volatility, swinging aggressively in both directions. There has been a lack of commitment from either the bear or bull camps of late. As the market continues to trade with such behavior, it appears to be trying to find its feet, ahead of a potential chunky firm trend.

EOS DApp Hacked Again

An EOS based gambling DApp, EOSBet has been hacked, with $338,000 being reported as stolen. This isn’t the first time; just back in September, hackers managed to get away with a reported 40,000 worth of EOS, which at the time had a value of $200,000. It has been said that they were able to exploit their smart contracts, having found security vulnerabilities.

Technical Review – 4-hour Chart View

EOS/USD 4-hour chart

EOS/USD price action has formed a bullish flag pattern, which began taking shape on 15th October, after the aggressive price behavior stabilized. The bulls at the time ran the price well up into $6 territory. Consequently, it then met the breached ascending trend line, failing to move back above this area. This followed the sharp breakthrough to the downside, which occurred on 11th October. As a result, a drop of over 15% was seen, forcing EOS/USD to retreat in a demand area, within the $5.0000 level proximity.

Looking to the upside, small near-term resistance is seen at around $5.6100, which is the upper trend line of the mentioned bull flag pattern. A breakout will likely open the doors to a retest of the broken ascending trend line, tracking around $6.1100. Support can be eyed at $5.4600, which marks the lower trend line of the flag. Furthermore, should this fail to hold, EOS/USD could likely fall back down to the serving demand area, within the lower $5.0000 territory.

April 2018 Bull Run

EOS/USD April bull run

In April of this year EOS/USD entered a chunky bull run, gaining over 300%. From the back end of March until 11th April, the price had been stuck within consolidation mode. Resulting in the price trading within a tight range, at levels of where the price is currently seen today.

Something quite astonishing started to unfold. Between the period of 11th April to the 29th April, a bull run of around 290% was seen. Over this time frame EOS/USD went from $5.9500 up to a high of around $23.0811. The price is currently demonstrating a similar behavior to that of what was seen during the mentioned period. It is interesting to note that the price did have historical levels to break through, as it had already run higher during the period of December 2017 and came back down. Finally, this is not to say EOS/USD will observe the same bull run. However, it is an interesting observation to be aware of.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 32 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Stellar Price Analysis: XLM/USD Has the Potential for a Short-term Rally, Though Bearish Set-up Eyed

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  • Stellar’s XLM potentially has further room for upside, within the short-term view.
  • Danger still looms for XLM/USD, as the daily chart suggests of a bearish technical pattern set up.

Steller’s native token XLM, has failed to commit to any sustained trend. This has been the case since the start of July. Bull rallies that have been witnessed were quickly sold by the market bears. This led the market to trade within a generally long running form of consolidation. Price action is narrowing, given the unsustainable short-term trend runs that have been witnessed. It comes as somewhat of a surprise, as the Stellar foundation have certainly been busy.

Stellar Developments

It was reported recently, blockchain security company BitGo, announced their support of Stellar Lumens (XLM). Being added to the BitGo’s list, Stellar now receives custody solutions. Their users will be able to generate wallets for Stellar Lumens. This is said to be starting at some point within the next couple of weeks. Elsewhere, as previously reported, the Stellar foundation at the start of this month released their heavily anticipated decentralized exchange, StellarX.

4-hour Chart Technical Review

XLM/USD 4-hour chart

Looking via the 4-hour chart, price action has formed a bullish pennant pattern. This comes after the surge higher between September 20-23. XLM/USD has since entered consolidation mode, trading within a range-bound nature. The price is coming very much towards the end of this technical pattern seen, raising the case for an imminent breakout. Near-term support can be observed around $0.2350 area. This is the lower tracking trend line of the mentioned pennant. A failure of the support could very likely see a fast fall to $0.2050. XLM/USD was last trading in this territory between September 12 – 20. The mentioned period was during a time of consolidation, prior to the mentioned breakout higher.

Resistance is seen just ahead of the current price. The above descending trend line of the pennant pattern is tracking around $0.2460-70. Enough bullish momentum to see the breach would likely force the price running to $0.2650. This is seen as an area of resistance on the 4-hour chart view. Looking further to the north, eyes would be on the supply heading into the $0.3000 mark.

Daily Chart Technical Review

XLM/USD daily chart

Taking into consideration the 4-hour chart view, there is still room for another squeeze higher. Despite this, danger appears to still be looming for XLM/USD. Risks on the daily chart point to the downside. The view of this is that a longer-term bearish pennant pattern is containing the price. XLM/USD support on the daily chart can be seen just sub of $0.2000. A long-running supporting trend line can be seen. The price having required assistance on June 29 and several occasions from September 8 – 12. To the upside, resistance can be seen around $0.2900. XLM/USD was rejected already on a few prior occasions, by the above descending trend line. July 25-2 and then most recently September 23, all saw respective bull runs halted.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 32 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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IOTA Price Analysis: Current Behavior Raises Concerns of Another Drop in the Price

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  • Current technical indications still point to downside risks for IOTA’s MOITA price.
  • Near-term chart view sees a rising wedge pattern. The daily chart observes a bearish pennant formation.

The IOTA price remains at risk for now of a breakout to the downside. It appears more likely that downside pressure will be seen, in comparison to any upside surprises. Despite this, IOTA’s native token has made solid recovery in just over a week of trading. Since 25th September, it has gained 8%. Trending higher has been observed from a low of around $0.5200, up to current levels around $0.5600.

IOTA Developments

Most recently, Bitpanda announced they now offer deposit and withdrawal services for IOTA. Bitpanda is fintech company based in Vienna, Austria. They specialize in selling and buying Bitcoin and other cryptocurrencies. Becoming Europe’s leading retail broker for Bitcoin, Ethereum, Litecoin and more, boasting a user base of over 900,000 users. “We are very pleased to announce not only withdrawal and deposit functionalities for IOTA on Bitpanda, but also that Bitpanda now officially supports the latest IOTA tech — IOTA Hub,” as stated in their most recent blog post.

This move goes to show the growing presence IOTA is having across the market. The market acknowledgement of the foundation’s technology. IOTA’s MOITA is currently the 11th largest cryptocurrency by market cap, which is seen at $1.5 billion.

Elsewhere, as covered previously, the foundation is very close to revolutionizing the car insurance industry. They presented a new project in which they have been working on at bIOTAsphere. This was a proof of concept technology, known as Tangle. Full details mentioned in the previous article.

Near-term Technical Review 

IOT/USD 60-minute chart

Looking via the 60-minute chart, current price action has formed a rising wedge pattern. This price behavior makes it susceptible to a breakout to the downside. Should the bears manage to breach the lower support, sellers could pile in. To the downside, support in this view can be seen tracking around $0.5650. Further to the downside, 60-minute support should come into play around $0.5420.

Daily Chart Technical Review

IOT/USD daily chart

For over a month now, price action, as clearly seen on the daily chart view, has been firmly within consolidation mode. The range is getting tighter, building up the likelihood of an imminent breakout. Resistance is sitting just ahead around $0.5850, very close to current levels. Support eyed at $0.5430, a breakout could see the price tumbling. A potential downside target would likely be around the $0.4000 territory, testing 14th August low.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 32 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

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