• The US Federal Reserve will introduce a new $100 bill with added security features on October 8, 2013. The new bill will be confusing and complicated, so counterfeiters will have a small window where they'll likely be able to pass off a slightly different (but equally confusing) new-looking C-note. [url]
• Ireland's Central Bank says it's offering refunds for a commemorative coin that misquotes a phrase from Ulysses. It was an unintentional error on a coin meant to honor James Joyce, but the bank is still planning to sell the coins -- explaining that the text was "an artistic representation of the author and text and not intended as a literal representation". [url]
• The US secret service has trained counterfeit detection canines to help sniff out fake money. The dogs and their handlers went through a 12-week training program and were deployed in Colombia to find counterfeit currency. [url]

• Amazon Coins are yet another virtual currency -- specifically for buying virtual goods on Amazon's Kindle tablet. One Amazon Coin is equal to the value of a US penny, and everyone will soon be collecting them, so get them before they're all gone.... [url]
• Flooz.com officially shut down in 2001, putting an end to its digital currency that was used on the internet as an early kind of electronic gift certificate. Thousands of people had bought Flooz (at an exchange rate of 1 USD to 1 Flooz), but the company had also sold ~$300,000 worth of Flooz via fraudulent credit card transactions, which ultimately doomed the company. [url]
• Bitcoins are still getting attention, even after some serious missteps, but the market for Bitcoins isn't quite trustworthy yet. If Bitcoins do succeed in gaining mainstream use, will there be a flood of digital currencies based on a variety of different cryptographic rules? [url]

Since most politicians' campaigns are largely funded by wealthy companies and individuals, it would give voters a better sense of who the candidate they are voting for is actually representing if the company's logo, or individual's name, was prominently displayed upon the candidate's clothing at all public appearances and campaign events. Once elected, the candidate would be required to continue to wear those "sponsor's" names during all official duties and visits to constituents. The size of a logo or name would vary with the size of a donation. For example, a $1 million dollar contribution would warrant a patch of about 4" by 8" on the chest, while a free meal from a lobbyist would be represented by a quarter-sized button. Individual donations under $1000 are exempt.

• Pennies aren't worthless. They're legal tender and carry a value of 1 cent. That's why a Utah man tried to pay a disputed $25 doctor's bill in pennies. After he presented the clinic with almost 14 lbs of pennies and demanded that they count them, he was found guilty of disorderly conduct and fined $140. Hopefully he didn't try to pay the fine in pennies as well. [url]
• Have you ever wondered why there are 100 cents in a dollar? In 1784, Thomas Jefferson suggested that the U.S. dollar should be decimalized, and being the influential guy that he was, he managed to convince the government to follow the suggestions he proposed in his essay, "Notes on the Establishment of a Money Unit, and of a Coinage for the United States." [url]
• Coin collectors can now get their very own platinum-plated "trillion dollar coin" for just $9.95. The coins commemorate the idea that the U.S. Treasury could simply mint a $1 trillion platinum coin to get around the debt ceiling. Apparently, U.S. law allows the Treasury to produce platinum coins in any denomination. [url]
• The Royal Canadian Mint wants to create a secure digital alternative to cash in the form of MintChip. The MintChip smart card chip could be installed in a number of devices, and value would be transferred onto the chip by a MintChip broker, allowing users to securely exchange Canadian dollars both online and offline. [url]

Apparently, the incomparable Charles P. Pierce shares my disdain for the lumbering excuse for a fair and credible sanctioning body that currently governs collegiate athletics.

In a sharp Grantland piece, Pierce revisits the Ed O'Bannon-led class-action case against the NCAA and video game manufacturer EA over their combined efforts to profit in perpetuity from the likenesses of unpaid "student ath-o-letes." (Take it away Eric Cartman!) But I think Pierce is overselling the extent to which a possible O'Bannon victory would really change the college sports landscape....

By way of background, Ed O'Bannon is a former UCLA and pre-Brooklyn Nets basketball player who had retired from the game. It came to his attention that the NCAA had licensed his likeness to EA to make approximately a gajillion dollars selling video games featuring "classic" teams like O'Bannon's 1996 UCLA Bruins. O'Bannon felt -- and he was later joined by basketball legends like Bill Russell and Oscar Robertson, who were stunned to learn a) that they were in a video game and b) what a video game was -- that this seemed a little far afield of putting his likeness on a calendar in 1995, which is what he reasonably assumed he was authorizing the NCAA to do when he signed away his rights to profit from the marketing of his collegiate career when he was all of 18 years old.

O'Bannon filed suit in 2009, alleging that the NCAA violated the Sherman Antitrust Act when they forced him to sign a waiver giving up his rights to profit from representations of his collegiate career. As Robert Wheel of SBNation explains:

O'Bannon is alleging that if the NCAA didn't force him to sign this contract, then he could have gotten money from someone else (say, an EA competitor) to use his likeness. Thus, it essentially fixed the price of using his image at zero. Even if you consider players' scholarships adequate payment for their services, this still artificially depresses how much they're paid. If a judge agrees, the waiver would be considered an illegal restraint of trade under the act.

And now O'Bannon and his lawyers are seeking to certify a class of all former athletes used in this way for a trial next year (courts have held that maintaining the amateur status of current student athletes is a laudable enough goal to justify the NCAA robbing current athletes of the fruits of their potentially debilitating labor, so this case only deals with former athletes).

Which brings us to Charles Pierce's piece. You see, Judge Claudia Wilken of the Northern District of California just denied the defendants' motion to end the class certification process on the grounds that the plaintiffs have changed their legal strategy. Judge Wilken basically asked, "So?" and the defendants had no response. Pierce contends that this legal setback for the NCAA, along with recent NCAA retreats on the issue of stipends for players, portends an extinction-level event for college sports.

By and large, the people charged with running our various sports conglomerates have proven through history to be as incapable of taking the long view of their own survival as the average brachiosaurus was. They blunder around, eating whatever comes under their noses, trampling the scenery and hooting loudly into the wind. They never see the meteor coming. …

For the NCAA to survive in its current form, it has to win this lawsuit or get the lawsuit dismissed. There’s no third alternative. The NCAA can’t settle and then go back to the status quo ante. It can’t pay off O'Bannon and Russell and Robertson and all the rest of them, and then start business as usual again as regards Cody Zeller or Kenny Boynton. If it loses the lawsuit, the effect on the NCAA's financial structure would be profound. About which, at this point, the device has not yet been invented capable of measuring how little I care. Instead, I stand aside and listen to the stomping and the hooting from the thick Cretaceous rain forest, which is just loud enough to drown out the high whistling sound of something coming down from the sky.

I'm not sure comparing the NCAA to the dinosaurs makes much sense. The dinosaurs were wiped out entirely and a new world order replaced their presence. The elimination of the NCAA is more akin to the extinction of the Dodo bird: the weakest, most ineffectual player on the evolutionary stage will saunter off while the crazy dudes with guns and hunting dogs remain on top.

Or maybe Pierce is right about the extent of the mass extinction... but he forgets that the elite athletic departments and conferences aren't the dinosaurs, they’re the cockroaches. I just don't trust these folks to go quietly into the night. They'll let the NCAA take this hit regarding past licensing of "classic team" likenesses and then come up with some new regime where the individual schools capture all the revenue from licensing their own classic teams through bi-lateral agreements with manufacturers to create some semblance of a competitive market for these likenesses and go on exploiting the next generation of future former athletes.

Would that survive legal scrutiny? Maybe not, but the big power players in the sport will happily drag out the issue as long as possible to capture as much profit as possible, even at the expense of the weaker sports schools who would lose out without the NCAA dividing the licensing pot. But for a major athletic department, this is no time for communism! There's already a roadmap out there to ditch the NCAA and kill off the weaker sports schools leaching off the strong.

So the NCAA might die, but for the players themselves, the motto would be "meet the new boss, same as the old boss."

The O’Bannon Decision [Grantland]
Ed O’Bannon vs. the NCAA: The antitrust lawsuit explained [SBNation]
NCAA Student-Athlete Licensing Program — How Could It Happen and What Are the Elements? [Winthrop Intelligence]

More stories from Above The Law:

• When Luddites Handle Cyber Security, You End Up With American Law Firms
• The Practice: Blogging And Other Social Media, Like A Search Engine Whore
• Quote of the Day: Trump’s Lawyers May Be ‘FIRED!’ Over This

On [Hollywood's] case, a copyright owner's claim would not even be limited to the infringer's profits: in principle, the entire proceeds of sale would be held on trust for the copyright owner. That might both be unfair and stultify enterprise. The proceeds of an infringement might be out of all proportion to the profits generated (e.g. because of the cost of raw materials used in the infringing product). It might not seem just for even a deliberate wrongdoer to have to pay the copyright owner the amount of his gross receipts, and an infringer need not have known that he was breaching copyright. Further, were Mr Spearman's [lawyer for the studios] submissions correct, a person might be deterred from pursuing an activity if he perceived there to be even a small risk that the activity would involve a breach of copyright or other intellectual property rights. As was submitted by Miss Lambert, that could have a chilling effect on innovation and creativity.

Suppose, say, that a market trader sells infringing DVDs, among other goods, from a stall he has set up on someone else's land without consent. The owner of the land could not, as I see it, make any proprietary claim to the proceeds of the trading or even the profit from it. There is no evident reason why the owner of the copyright in the DVDs should be in a better position in this respect.

In principle, letting people support new features of interest sounds like a good idea, since it gives users a chance to vote with their wallets. But it comes in the wake of a plan to let people search for items on sites like Amazon from within the Ubuntu operating system, for which Canonical would presumably get paid if purchases were made as a result. As the hundreds of comments on the blog of Mark Shuttleworth, the founder of Canonical and Ubuntu, indicate, this has raised a number of concerns about privacy and the direction of the Ubuntu project.

Some might see both moves as evidence that Canonical still isn't making as much money from the Ubuntu ecosystem as it needs to, and that Shuttleworth is looking to bolster income. Four years ago, he admitted that Canonical was "not close" to breaking even, and that it would "require time and ongoing investment" to make it do so. Given Ubuntu's place as probably the most popular GNU/Linux distribution, users must hope that Shuttleworth will still be happy to invest in Canonical, and hence in Ubuntu, for a while yet. Perhaps that's another good reason for Ubuntu fans to start paying at least some of the development costs under the new scheme.

Follow me @glynmoody on Twitter or identi.ca, and on Google+

Have you heard of Donnie McClurkin, French Montana or Grupo Bryndis? If you haven't you're not alone. They are artists whose sales ranks on Amazon are 4,752, 17,000 and 183,187, respectively. These are all working artists who live well outside the mainstream - no steady rotation on broadcast radio, no high profile opening slots on major tours, no front page placement in online retail. What they also have in common is a steady income from Pandora. In the next twelve months Pandora is on track to pay performance fees of $100,228, $138,567 and $114,192, respectively, for the music we play to their large and fast-growing audiences on Pandora.

And that's just the tip of the iceberg. For over two thousand artists Pandora will pay over $10,000 dollars each over the next 12 months (including one of my favorites, the late jazz pianist Oscar Peterson), and for more than 800 we'll pay over $50,000, more than the income of the average American household. For top earners like Coldplay, Adele, Wiz Khalifa, Jason Aldean and others Pandora is already paying over $1 million each. Drake and Lill Wayne are fast approaching a $3 million annual rate each.

we will feed you beer, hug/high-five you up and down (pick your poison), give you merch, and thank you mightily for adding to the big noise we are planning to make.

me and my band have discussed it at length. and we have decided we should pay all of our guest musicians. we have the power to do it, and we’re going to do it. (in fact, we started doing it three shows ago.)

They believe she should pay.

Because she raised a million dollars on Kickstarter and they didn’t!

Amanda ankled her major label deal, she makes money on Twitter, she uses the new technologies to both reach people and profit and they don’t like it. They could join in, but then they might fail, and they wouldn’t be able to sit at home at bitch.

my management team tweaked and reconfigured financials, pulling money from this and that other budget (mostly video) and moving it to the tour budget. 
all of the money we took out of those budgets is going to the crowd-sourced musicians fund. we are going to pay the volunteer musicians every night. even though they volunteered their time for beer, hugs, merch, free tickets, and love: we’ll now also hand them cash.

- Lady Gaga, major label artist, sends out an invite for interested fans to jump onstage and perform for a couple of tracks in exchange for discarded wigs, unused wardrobe and travel bottles of Ciroc. (Feel free to substitute a major label artist you can actually tolerate for Lady Gaga, if need be.)

- Indie legend Weezer sends out an open invitation for interested fans to perform onstage with them at their tour stops in exchange for corrective lenses, sweaters and "Pinkerton" CDs rescued from the cutout bin.

- Label-free artist Jonathan Coulton sends out an open invitation for interested fans to perform interpretative dances during his live appearances in exchange for retweets and a 4-song EP dedicated to you and recorded backstage while you wait.

if my years working as as street performer taught me anything, they taught me to accept help in every way, to never be too proud or afraid to ask for it. i never got pissed at a passerby for not throwing change in my hat. i stood there knowing that maybe 15 people later, maybe 20, maybe 100…someone would. it’s literally an opposite strategy from someone deciding that they, on principle, won’t gig for free.

i’ve built my life as a musician, like many many people in rock and roll, playing for free….a LOT.
or playing for beer.
playing for exposure.
playing for fun.
playing just to be able to sell merch.
playing to do somebody a favor.
playing a benefit to help a cause.

we’re looking for professional-ish horns and strings for EVERY CITY to hop up on stage with us for a couple of tunes.

when we handed the musicians their surprise cash backstage in new orleans the other last night, they laughed like mad and said “after ALL THAT, you're going TO PAY US??!!

moreover: i feel like we accidentally put ALL of our volunteer musicians into a weird situation that they didn’t bargain for….they unwittingly signed into a kerfuffle they never asked to join. all they wanted to was to hop on stage, rock out, and drink beer with us, etc.

so you all know: when this all started going down last week, jherek sent an email out to his current list of volunteers telling them that we totally understood if all this controversy was weirding them out. and we gave them an opportunity to pull out, no hard feelings.

since this started, not a single musician has pulled out.

I can’t tell you how many “you’re such a stupid cunt” and “i’d pay to travel just to fuck up your gig…if i played violin” tweets i’ve seen in the past few days...

You’re just not willing to work that hard.

That the only thing holding you back is you. Amanda does not know the word “no”. And every effort is an investment in her career. Money is secondary. She wanted to raise a million bucks on Kickstarter, did, and now it’s almost all accounted for, profit is next to nothing.

If she sleeps, it’s not for long. I felt lazy just being in her presence. But that’s what it takes to make it today. Hard work. Are you prepared? 

And hard work is not e-mailing journalists who don’t care, it’s not badgering people to watch your YouTube clip and like you on Facebook, it’s doing something so good people are drawn to you.

The telecommunications market and the telecoms industry as a whole is undergoing a fundamental shift. Catalysed by the availability of higher bandwidth connectivity, new applications and services are being enabled that go far beyond the traditional services of voice calling. In both the consumer and enterprise segments, services such as Voice over IP (VoIP), social networking, instant messaging and the rise of ‘apps’ have changed the way customers use their mobile and fixed connections. This development is significant and telecoms operators need to adapt and rebalance their tariff structure between voice and data services.

The aim of the ETNO proposal is to contribute to the achievement of a more sustainable model for the Internet. ETNO is not asking for increased regulatory intervention but aims to establish a reference for commercial negotiations. The current interconnection model has some shortcomings that need to be addressed. Today there is a huge disproportion amongst revenues and a clear shift of value towards players (Over the Top players -- OTT) who are not contributing to network investment. Traffic and revenue flows need to be realigned in order to assure the economic viability of infrastructure investment and the sustainability of the whole ecosystem. The revision of the ITRs offers a unique opportunity to propose high‐level principles for IP interconnection.

ETNO believes that the revised ITRs should acknowledge the challenges of the new Internet economy and the principles that fair compensation is received for carried traffic and operators’ revenues should not be disconnected from the investment needs caused by rapid Internet traffic growth. The ITRs should be flexible enough so as to further encourage future growth and the sustainable development of telecoms markets, while respecting the guiding principles that led to the successful development of the Internet: private sector leadership, independent multi‐stakeholder governance and commercial agreements. ETNO is certainly not asking for any change to the current Internet Governance model which is based on private sector leadership and multi‐stakeholder dialogue.

ETNO wants to avoid decisions that would prevent new business models from emerging or that would hamper differentiated offers, hence limiting consumer choice. The risk of undesirable economic and technical regulation of operator rates, terms and conditions will be much higher if the development of the Internet continues to be jeopardized by the lack of sustainability and/or by the lack of end‐customer satisfaction.

ETNO members have reiterated on many occasions their commitment to an open Internet and to continue enabling consumers to access services and applications of their choice as well as being completely transparent about terms, conditions and limitations. As recognized by the European Commission, operators should not be prevented from developing differentiated offers based on customer needs, in addition to the best effort Internet. It is important to note that nobody will be cut off from the Internet as the best effort Internet will continue to exist and to evolve. New business models based on differentiated offers will ultimately create more choice for consumers.

“There is an agreement that any recovered funds will be paid to IFPI Sweden and IFPI London for use in future anti-piracy activities,” IFPI writes.

“They say that people who download give money to thieves – but if someone actually ends up paying (in this case: three individuals) then it’s been paid for. So who’s the thief when they don’t give the money to the artists?”

According to Sunde the news doesn’t come as a surprise.

“As far as I know, no money ever won in a lawsuit by IFPI or the RIAA has even gone to any actual artist,” Sunde says.

The Problem

The MPAA & RIAA claim that the internet is stealing billions of dollars worth of their property by sharing copies of files. They're willing to destroy the internet with things like SOPA & PIPA in an attempt to collect that money.

The Solution

Let's just pay them the money! They've made it very clear that they consider digital copies to be just as valuable as the original. That makes it a lot easier to pay them back in two ways: a. We can email them scanned images of dollar bills instead of bulky paper and b. We don't have to worry about the hassle of shipping huge quantities of cash.

It’s easy to see how Kim Dotcom got rich by being an early entrant in the cloud storage market, in the only part of the business that required a lot of large file transfers. (Much the same is true of broadband adoption, for which piracy has always been the early killer app—especially outside the US where legal web services are still underdeveloped.) As a subscription business selling a scarce commodity, Megaupload’s revenues were many times larger than the largest torrent or link sites. In 2010, execs at Paramount Pictures estimated (in testimony to Congress) its profits at between $41 million and $300 million per year, with the range reflecting different assumptions about its subscription rate. The Justice Department’s recent indictment put the number below the low end of the range—committing to only $175 million in total revenues since 2005–under $30 million/year–and reflecting a roughly 7-1 split between subscriptions and advertising. There are no estimates of how much of this came from legal sources.

In contrast, it’s hard to see how this model remains lucrative. Storage costs are falling rapidly, and there are no barriers to entry or significant network effects. For a comparable market, look to the highly competitive web hosting business rather than search engines or operating systems, which have more characteristics of natural monopolies. Many companies–including Megaupload–already give large amounts of storage away. Many compete for “premium” users, either with inducements or bundling with other services.

• The Swedish trial of The Pirate Bay trial in 2009 became an occasion for all sorts of competing estimates of revenues. Record industry group IFPI estimated the site’s revenues at $3 million per year. The MPAA described $5 million in revenues. But prosecutors endorsed a much lower number: $170,000 from advertising (against what the defense characterized as $112,000/year in server/bandwidth costs and $100,000 per year in revenue). This is for a site that appears consistently among the top 100 visited sites in the world.
• NinjaVideo, a Brooklyn-based movie indexing site whose owners were arrested in 2011, was alleged by prosecutors to have made $500,000 in 2½ years. After the site began to make money, the four administrators split the revenue, netting around $33,000/year each after expenses. http://prospect.org/article/ninja-our-sites . Hana Beshara, the site’s primary owner, was sentenced to 22 months in prison under the US No Electronic Theft (NET) Act.
• Brian McCarthy, the owner of Channelsurfing.net, a Texas-based sports streaming site, was alleged by prosecutors to have made $90,000 over five years. http://prospect.org/article/ninja-our-sites He also faces jail time and fines under the NET Act.
• Immigrations and Customs Enforcement (ICE) made some partial revenue estimates for targets of its 2010 domain name seizure program, Operation In Our Sites, based on information from advertising network Valueclick. According to ICE investigators, Torrentfinder, a BitTorrent site, made about $15,000 in ad revenue from Valueclick over a year in 2008-2009. Onsmash, a music link site, made around $2,500 in 2009-2010.

The picture that emerges from the survey is one of financially fragile but low cost operations, dependent on volunteer labor, subsidized by users and founders, and characterized by a strong sense of mission to make work more widely available within fan communities. Few such sites make or seek to make money. Many are specialized communities exchanging media of particular types, genres, or languages. A site like NinjaVideo began this way, but grew into a larger, revenue-making operation.

• It's intriguingly difficult for any country that currently uses the euro to try to stop using it and switch to some other form of currency. So difficult, in fact, there's a $400,000 prize for anyone who can figure out a process that would actually work and not create monetary chaos. [url]
• Some Brazilians are using locally-printed currencies instead of its national reais -- such as the capivari, which is just one of the 63 local kinds of money. The capivari is a printed bill (with a picture of a rodent on it!), equal in value to the reai, but retailers give customers discounts for using capivaris (making these local bills into fancy coupons, essentially). [url]
• Last year, the IMF's Dominique Strauss-Kahn proposed an alternative to the dollar in central banks' foreign currency reserves. A system of special drawing rights (SDRs) for central banks would be priced according to international trade instead of any single nation's currency. (It's not an entirely new idea, but it's never caught on.) [url]
• In Vietnam, there's a penalty for posting prices in dollars instead of the local currency. The local currency suffers from high inflation rates, so they might want to look into Brazil's monetary history for some lessons.... [url]
• To discover more stuff on economics, check out what's currently floating around the StumbleUpon universe. [url]  

In the first quarter of this year, what was the number one issue that Congress addressed? In the middle of two wars, a huge unemployment problem, huge budget deficit problem, still issues about health care, still no addressing global warming—what’s the number one issue they addressed? The banks’ swipe-fee controversy. Why do you address the banks’ swipe-fee controversy? There is not one congressman who decided to run for Congress because he thought, "I'm going to deal with the problem of the banks' swipe fees." It's only because if you can dance as a congressman with a little bit of uncertainty of which side you're going to come down on in this controversy, millions of dollars gets showered down upon you because there's $19 billion on the table depending on how this issue is resolved. So there Congress is driving the agenda in part because of the fundraising opportunities the agenda produces.

Switch to C-SPAN covering the U.S. Congress and it's a completely different picture. You can't see it, because they don't allow the camera to pan around, but the hall is empty, people coming to speak just to C-SPAN--they're not speaking to each other--all of the activity of negotiation and deliberation is done outside the chamber; there's no deliberation, so you just have to ask, "Why did we create a Congress?" The framers didn't sit down and set up a Congress so they could imagine these 535 independent contractors all arbitraging fundraising opportunities. If that's what the institution is, then let's just shut it down.

A secondhand dealer shall not enter into any cash transactions in payment for the purchase of junk or used or secondhand property. Payment shall be made in the form of check, electronic transfers, or money order issued to the seller of the junk or used or secondhand property and made payable to the name and address of the seller. All payments made by check, electronic transfers, or money order shall be reported separately in the daily reports required by R.S. 37:1866.

"It's a mechanism to be used so the police department has something to go on and have a lead," explains Hardy.