I'm coming to the conclusion that, at a society scale , there's a fundamental conflict such that advances in communications technologies undermine trust . This is a case of paradox of composition -- whilst at a personal scale improved communications can increase trust, at a mass scale, the tendency seems to be to undermine it. This increasingly strikes me as a problem. https://www.reddit.com/r/dredmorbius/comments/6j…
This ties interestingly to the news about Bitcoin power usage from last week: https://motherboard.vice.com/en_us/article/ywbbpm/bitcoin-mi... The beauty of Bitcoin is an inherently-trustworthy transaction structure without the need for a central authority or trust between parties. The cost is exactly what you describe - trust is replaced by a massive expenditure of work to independently verify everything. It's an int…
Decentralisation is the paramount feature in bitcoin, but it turns out that that's a bad idea that's really, really expensive, because it turns out that a tiny bit of trust saves you a fortune.
"Decentralised" isn't a useful buzzword in a lot of ways, because it turns out that you want to be a part of society.
From his interview with the Financial Times: