Technical feasibility of regulating public Blockchain explored • Hacker News Board

Re: Technical feasibility of regulating public Blockchain explored

#51

Post by nske » Sat, Dec 23, 2017, 3:16 PM UTC

littlestymaar wrote: post #50

nske wrote: post #49

Earlier quoted context omitted.

> If the most dramatic consequences you had to face from the past decade policies, you're probably pretty affluent among the Greeks I don't live in Greece any more but no, I was earning a slightly above average full-time wage -which when you don't have a family, pay rent or care to go out much might feel pretty affluent, but if you have to support a family or pay rent because you don't want to live with your parents…

What's interesting in what you describe about the greek situation, is that it's exactly what one should expect when a government lose its control on the monetary policy : instead of solving the problem by just printing money (at the cost of inflation) it needs to be much more intrusive in people's life in order to deal with difficult times.

Well, I'm happy with neither of the two because in their exremes they are both disastrous and disempower individuals. Who knows, if the monetary system had been out of central control from the beginning, there might had never been a financial crisis to begin with.

So I'd rather make both choices impossible for my government and be in control as an individual, for better or for worse. Socialism in Greece has failed. Either failed to exist, or failed to work, failed regardless.

Re: Technical feasibility of regulating public Blockchain explored

#52

Post by alokashtikar » Tue, Dec 26, 2017, 5:23 AM UTC

JumpCrisscross wrote: post #28

gizmo686 wrote: post #10

Earlier quoted context omitted.

There is an arguement to be made for starting with a secure system and adding in regulatory features. For instance, if we adopt the articles proposed regulatory node idea, where the only role of the trusted nodes is to approve transactions, then a complete compromise of the trusted systems would only allow an attacker to perform a DOS attack or bypass the regulatory checks. In contrast, in a traditional system, compr…

> compromising the central party gives you the keys to the kingdom What does this look like in practice? The Federal Reserve being hacked? Why would an immutable blockchain make that more pleasant than our current, reversible system where something like the 1933 eight-day bank holiday [1] is possible? Practically speaking, central banks get compromised by political factors much more frequently than by hackers. [1] ht…

It is more synonymous to banks being hacked than Federal Reserve if at all. However, the idea is to have a secure system as much as possible.

By layering it with a secure regulatory system, we get what you are asking for. If you like, have an eight-day bank holiday (if your jurisdiction wants that).

Re: Technical feasibility of regulating public Blockchain explored

#53

Post by alokashtikar » Tue, Dec 26, 2017, 5:31 AM UTC

Most of the debate seems to be around "corruptible" politicians and how they want to control the financial system. Some purists in Blockchains are afraid of regulation it seems.

What does a world without regulation look like? In my opinion it is like playing with fire. It may cause forest fires or it may cook delicious meals.

In the interim, it is better to deal with a "known enemy" (personally I dont view regulation as an enemy). Decentralize regulation. If someone wants to create his own regulation, sure go ahead. Its just that your country's regulation may agree to trade with your regulation or may be not, based on what you have created. Negotiate well with your country's regulator, and get coins flowing across "your borders".

Re: Technical feasibility of regulating public Blockchain explored

#54

Post by neptunespear » Fri, Dec 29, 2017, 11:27 PM UTC

Salami-banker wrote: post #21

kridsdale wrote: post #16

Earlier quoted context omitted.

As a Canadian I’m curious for details.

I went to HSBC Canada to open a Euro denominated account. The bank representative noted my named, and asked, smiling, what my background is. I told her I'm from Vancouver. She said that's not what she meant, so I assumed she was asking whether my background was Iranian to make conversation (this was the branch in North Vancouver, which has a large Iranian-Canadian population, so I thought she was going to make a rema…

Hey man. In case you see this, you might consider contacting Go Public (CBC News) about this: gopublic@cbc.ca

In addition, the Law Society of BC offers half-hourly consultations for $25, it's called the Lawyer Referral Service.

Re: Technical feasibility of regulating public Blockchain explored

#55

Post by neptunespear » Fri, Dec 29, 2017, 11:28 PM UTC

bigmanwalter wrote: post #26

Salami-banker wrote: post #21

Earlier quoted context omitted.

I went to HSBC Canada to open a Euro denominated account. The bank representative noted my named, and asked, smiling, what my background is. I told her I'm from Vancouver. She said that's not what she meant, so I assumed she was asking whether my background was Iranian to make conversation (this was the branch in North Vancouver, which has a large Iranian-Canadian population, so I thought she was going to make a rema…

This is outrageous. As a fellow Canadian whose parents immigrated here, I am fed up with Canada's reputation as friendly and welcoming to foreigners. While it is to a degree, the racism here is much stronger than people seem to be willing to acknowledge.

This is actually not an uncommon occurrence: a Canadian citizen sued TD after his bank accounts were closed in 2012: https://www.theglobeandmail.com/news/politics/montreal-man-b...