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Easiest Path to Riches on the Web? An Initial Coin Offering

nytimes.com

281–290 of 310 posts

Re: Easiest Path to Riches on the Web? An Initial Coin Offering

#281

I have a fetish for watching complicated court cases play through. What you realize is a judge in a courtroom has a lot of power. They can take your money, freedom or even kids. However, if I had few hundred thousand in Ethereum encrypted placed into a few random anonymous git hub repros, well, the government can't take it. It is truly yours. No one can take it. That must be horrifying proposition for (some) governme…

> I have a fetish for watching complicated court cases play through.

Wait - does that mean you could literally get off on a technicality?

Re: Easiest Path to Riches on the Web? An Initial Coin Offering

#282
These guys took the money and ran. Absolute radio silence since the ico. Not to mention nobody is going to run an exit node since being paid to do so would mean you would be on the hook for illegal traffic, unlike TOR. It's a nice idea but completely impractical, even with a dev team that didn't disappear after raising money.

Re: Easiest Path to Riches on the Web? An Initial Coin Offering

#284

Earlier quoted context omitted.

>We live in societies with rules, with laws that we have agreed upon, and are, for the most part, fair. Societies have gradually grown more unfair as the political system has strained under their growing complexity. According to political scientists, the average voter has an extremely limited understanding of what their government is doing. The typical person's understanding of economics is similarly extremely limite…

The average voter has always had an extremely limited understanding of what their government is doing, and demagogues? How old do you think that word is? This is not something new. I agree that the mass surveillance systems are a problem, but that's mostly because it enables greater control in the future, not because that control is in place today. It's also not unprecedented - the Stasi had a more comprehensive surv…

The stasi was a totalitarian state. And in some respects, the mass surveillance system is more extensive now than under the stasi. Being better than the stasi is a pretty low bar to beat.

>We voluntarily exchange some individual rights for collective security and prosperity all the time.

We don't voluntarily exchange it.

You have a right to leave the protection of the state if you don't want to have any of your rights violated. That doesn't imply that we voluntarily submit to laws infringing on our rights.

We have an inherent right to be in our own country without having our rights violated.

Re: Easiest Path to Riches on the Web? An Initial Coin Offering

#285

Earlier quoted context omitted.

Mining is a waste of energy. An ICO makes sense if they 1) have a product that benefits from a blockchain, 2) have a great team and a demo of their product.

Mining doesn't waste energy, it's the cost the network pays for security, and it usefully indexes the value of the token rewarded to miners for securing the network to their cost of electricity, grounding the token value in some hard-to-manipulate real-world value.

It wastes energy compared to POS (Proof of Stake).

Re: Easiest Path to Riches on the Web? An Initial Coin Offering

#286
post #244
post #239

Earlier quoted context omitted.

> I mean, if you want the punishment to be rubbing your face in the dirt until you understand _why_ things are the way they are and why this is better than your idea now, I'm down for it. It's genuinely horrifying how much you seem to enjoy the thought of imprisoning or humiliating those who disagree with you. I suspect that this is a result of cognitive dissonance: you realise that you cannot rebut their arguments r…

>It's genuinely horrifying how much you seem to enjoy the thought of imprisoning or humiliating those who disagree with you. It's genuinely hilarious how much you seem to take everything at face value. Better keep my gulag jokes then. To be completely fair, ideally, I wouldn't wish that on anyone. If we could have a perfectly functioning society, where everyone understands the value of collaborating, I would not want…

There's nothing funny about Gulags, and frankly I don't think you were joking, as the actual policy you endorse is to imprison those who don't comply.

Re: Easiest Path to Riches on the Web? An Initial Coin Offering

#287
post #211

Earlier quoted context omitted.

>We live in societies with rules, with laws that we have agreed upon, and are, for the most part, fair. Societies have gradually grown more unfair as the political system has strained under their growing complexity. According to political scientists, the average voter has an extremely limited understanding of what their government is doing. The typical person's understanding of economics is similarly extremely limite…

>Your comment genuinely horrifies me. I presume you're saying you want people who don't comply to be put behind bars, for extended lengths of time. And their crime, that you insist is harming the rest us, is to not comply with a plan that the majority imposed on them. You've justified it in your mind by arguing that these people accepted a bargain, and are now not holding up their end of it. If your desire is to go l…

>If your desire is to go live in Libertopia, please do so. Renounce your citizenship. There's no justification in my mind, you have the choice.

That's like saying someone unhappy with having Sharia Law imposed on them should renounce their citizenship and live in Infideltopia. And as long as they stay, they are accepting Sharia Law, and should not complain about having their media censored, their private actions controlled, and their religious beliefs mandated.

>Then leave behind _everything_ this society has brought you. Let's see how you do. The amount of selfishness behind those comments is astounding. You are perfectly happy with reaping the benefits of said society, while not wanting to contribute back through the rules that have been established.

You're assuming that the positive aspects of our society are due to the income tax and the massive government programs that have been put in place. There is a lot of statistical evidence suggesting otherwise.

I would be perfectly fine not being covered by welfare and free healthcare guarantees in exchange for not paying taxes on private transactions. The problem is you don't want to give me that option.

There's no moral justification to deny people an option. The fact is you call me selfish, but it's you who advocates imprisoning individuals to advance your agenda for society, which is not a mutually agreed one. It's one that is imposed on a significant subset of the population.

>Yes, it's tyranny of the majority. Do you know why? Because it is the best system we have, for now.

It's not the best system we have.. There is absolutely no proof for your statement and plenty of evidence against it.

>In the mean time, we have agreed upon these rules for decades, and since it hasn't changed, it seems like your ideology isn't what people want.

We haven't all agreed to it..

>I mean, if you want the punishment to be rubbing your face in the dirt until you understand _why_ things are the way they are and why this is better than your idea now, I'm down for it.

Imprisoning someone doesn't help them understand why things are the way they are and why this is better.

Like I said, how quickly people rationalize locking up nonviolent individuals, when it helps them advance their agenda, is horrifying to witness.

>But since the two things you seem to value are wealth and freedom, and you're not willing to give up your wealth when you have to be punished, we can only act on the latter.

No one has to be punished. You want to punish people for not obeying other people. This is a conscious act that diminishes rights, and you have abandoned all moral considerations because it's not convenient to your agenda.

Re: Easiest Path to Riches on the Web? An Initial Coin Offering

#288
post #205

Earlier quoted context omitted.

Wish I could upvote this comment 1000x. pikzen said: > We live in societies with rules, with laws that we have agreed upon, and are, for the most part, fair. Please review the highlights of the last ~150 years of American history. If you need a very long list of examples that contradict your statement, I'd be happy to oblige.

Yet those laws are mostly not there anymore. And we are pushing forward. We _are_ making a fairer society for everyone. And yes, the US is late on that. Look to Europe for better examples. You're advocating for throwing down all that's on the table and burning everything, because you want your money. I'm trying to make society go forward and improve life for everyone. Please review the highlights of what an organised…

Loads of new laws have been created that go backwards. For example, laws in the banking and finance sector that violate privacy rights and create a mass surveillance situation in the name of fighting terrorism have been increasing since the 1970s, with the passing of the Banking Secrecy Act, and especially since 2001. These same laws are excluding an ever greater percentage of the population from the most lucrative areas of the financial sector, thus exacerbating income inequality.

Laws against drug use have increased significantly since 150 years ago, resulting in the criminalisation of large numbers of people and industries.

Laws on occupations and food production have multiplied, resulting in millions being disenfranchised, and the economy being increasingly dominated by large professional outfits and agribusiness, respectively.

I would argue we have not moved forward in several major areas, and on the contrary have been regressing.

It is in spite of the increasing burden of the state that society has progressed, no because of it.

Re: Easiest Path to Riches on the Web? An Initial Coin Offering

#289

Earlier quoted context omitted.

Fiat currencies have underlying value. If you want to operate a steel mill in the US without getting arrested, you need to procure a certain quantity of US Dollars and remit it to the IRS. No, you can't pay your taxes with bitcoins. It has to be dollars. That's why the US Dollar has inherent value - you can redeem them for the right to operate a business in the US.

The exercise of a right cannot be taxed. You can redeem them for the privilege of operating a legally distinct incorporated business entity in the US. At a strictly technical level, I believe it may still be possible to live your life entirely lawfully, without being taxed, but the amount of legal analysis necessary to work out exactly how that may be accomplished is beyond me. It's far easier to just earn enough dol…

What? Of course exercises of legal rights can be taxed. Taxing natural rights is problematic, of course, but the legal rights granted to you - like operating a steel mill, or enforcing the ownership rights to your home for you, or operating a motor vehicle - are completely taxable.

Re: Easiest Path to Riches on the Web? An Initial Coin Offering

#290

Earlier quoted context omitted.

Mining doesn't waste energy, it's the cost the network pays for security, and it usefully indexes the value of the token rewarded to miners for securing the network to their cost of electricity, grounding the token value in some hard-to-manipulate real-world value.

It wastes energy compared to POS (Proof of Stake).

Is there a working implementation of POS yet?
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