Earlier quoted context omitted.
And everyone agrees it's waste of time and energy, except actual scammers - spammers, right?
Certainly, but I don't see anyone trying to properly stop it in both cases here? Amusingly the PoW as we know it in cryptocurrency came from attempts to combat email spam with HashCash, it's clearly referenced in the Bitcoin whitepaper as a precursor.
Bitcoin Is a Hideous Monstrosity Made Out of Computers and Greed
171–180 of 184 posts
Re: Bitcoin Is a Hideous Monstrosity Made Out of Computers and Greed
#172Earlier quoted context omitted.
A comparison of Safedean Ammous to Deepak Chopra isn't useful IMO. Chopra does likely have views on economics but it's not the focus of his work. Ammous' work is about economics. Thus it appears you're merely trying to discredit one person by comparing them to another person whose views (on a totally different topic) are ridiculed/controversial (for potentially legitimate reasons). As to Lee Smolin .. he appears rath…
I wasn’t clear. I should’ve said it is equivalent to reading Deepak Chopra about quantum mechanics or string theory vs reading Lee Smolin. Not economics. Additionally, imagine why and how someone with an Econ degree who wasn’t very well known became incredibly famous. Enough for Taleb to write a foreword for him (although I suspect that was motivated by their ethnic common origins and less so by the rigor in the book…
Whatever you're implying here, I'm too stupid to get it.
You mean: he became famous enough despite only talking trash but in a way that fools dumb people like me? Or: he became famous through illegitimate means? Or: he became famous purely out of luck? Or: he became famous because he understood how to tell these people who mistrust some official institutions what they want to hear? Or: something else?
I just think he's got a few points right that go against today's mainstream economics. Somehow I haven't yet heard sound arguments from people who oppose the "deflation is an acceptable and possibly even better state of the economy" notion. They mostly put up strawmen.
> This is a common grift. Several professors in extremely high end Ivy League universities tried the same tactic. Including that one fucktard from MIT who claimed he’d done simulations for a million years and Terra (or some other coin, I really can’t keep all the scams straight in my head) couldn’t fail no matter what. Same motivation. New shiny thing? Let’s use it to try and increase our social capital. Less erudite crowd? The better.
I don't see why this is relevant here at all. The world is full of people trying to come out on top, almost everybody is. And some people tell lies to achieve that, some do scams or criminal stuff. Humans use tactics that "work" with humans, so what?
There's no law of nature from which follows that every person who curiously becomes famous for uncertain reasons can only be telling stupid things.
Discussing the person rather than their ideas is IMO a telltale sign that the subject (and gaining new insights about it) isn't really top priority here.
Re: Bitcoin Is a Hideous Monstrosity Made Out of Computers and Greed
#173Earlier quoted context omitted.
>I agree with you that trust is an open problem, but it's one that I think is getting solved automatically for free by ubiquitous surveillance, if we administer it sanely. The problem is, who watches the watchmen? And who watches the watchmen who watch the watchmen? And so on, because at some point you have to trust someone not to act maliciously. Not to mention that ubiquitous surveillance is a problem in itself, be…
First off, let me apologize for not writing a more in-depth reply, you've put a lot of thought and effort into this and I appreciate it. I'll try not to waste your time. :) > The problem is, who watches the watchmen? And who watches the watchmen who watch the watchmen? And so on, because at some point you have to trust someone not to act maliciously. I've thought about this and I think the likely answer is that the s…
>E.g. members of the CCP must be subject to the Chinese "social credit" system. It seems to me that if everyone is subject to the system then we still have a techno-tyranny but it's ruled by Mrs. Grundy. Otherwise, if there are privilege levels to the panopticon, you're going to wind up with masters and slaves.
The problem with this, panopticon aside, is that someone is bound to have these rules bent to their will: if the system is centralized then someone will inevitably have more power than someone else, and that someone will inevitably abuse that power. Bonus points if they create a narrative that convinces the public that the abuse was a good thing(tm) and is therefore accepted, swept under the rug or even considered the system working as intended. You know, as it already happens on a daily basis.
In an ideal decentralized system, everyone watches everyone. There is no one who has more power than any other, and everyone is bound to the same system with the same rules with no room for abuse. Of course, this is a utopia and not at all appliable to the real world, but it's an interesting thought experiment: how would such a system work if applied to humanity as a whole and no trust is required in your fellow human being anymore, as that trust is guaranteed by The System? It's not necessarily a good thing, mind you, as we'd have a different kind of panopticon: it might not be abusable by a single person, but it can be abused by the masses... and as we've seen lately that might be even worse.
>I don't think we can avoid solving that problem, I think ubiquitous surveillance is unavoidable due to economic factors (e.g. the fleet of self-driving cars is a de facto surveillance network. See also "sensing for wi-fi": your router can see you.) It's already happening, eh? Our cell phone track our locations, etc.
That's exactly why we need to solve the problem! We can't escape ubiquitous surveillance because it's here, and as long as we have the internet and electricity it will be here to stay. What we need to ensure is that it cannot be abused, bringing us back to my first point of watchmen all the way down.
>Here's where I strongly disagree. I don't accept the "it's human nature" argument against our higher values. I've lived in high-trust and low-trust enclaves and high-trust is just better. It's more efficient, but more importantly it's just fantastic! It feels great! It's just as natural if not more so to love and trust each other as it is to hate or fear each other. The best course of action, IMO, is to foster the higher human values and establish and grow trustworthy regimes within the chaotic larger systems and eventually establish a kind of techno-utopian Golden Age. :)
It's understandable that we disagree on this point, because doing away with trust is to reject part of what makes us humans in the first place. Trustless systems cannot be applied to all aspect of our lives, lest we become meat automatons bound by The System, but it can be applied to critical pieces of societal infrastructure to make lives better for everyone and distribute resources in an efficient manner. How? No idea, because such systems don't exist yet. I often see detractors parrot the "cryptocurrency is a solution looking for a problem" line, and that is partly true. We can fix some of the problems that plague society with cryptocurrencies (or better, tokenized decentralized systems), but we need to analyze these problems first and then create decentralized systems to fix them. Again, I've seen plenty of attempts at tackling such problems in the space; some turned out to be scams, some died, some are currently being worked on, but hopefully, eventually, some will see the light of day and bring some much needed positive change in our life... should it take years, if not decades.
In the meantime, we must do our best to improve society with the tools we have at hand. Even if those tools are often broken.
See you!
Re: Bitcoin Is a Hideous Monstrosity Made Out of Computers and Greed
#174You know what's an even worse "hideous monstrosity" than Bitcoin?
The way in which a few hundred million egocentric if not sociopathic people in the global west have allowed themselves to become addicted to excessive consumption of unnecessary trash produced with dirty energy and emitting millions of tons of harmful substances, thereby wrecking the ecosphere on the whole planet.
And then one of these addicts comes along and portrays Bitcoin as if it were the worst of all evil things and "devouring the world" .. all while Bitcoin is using less than 1/700 of the world's energy consumption [1] (and some of that is renewable).
That's about as huge as one can fuck up prioritization of problems.
Re: Bitcoin Is a Hideous Monstrosity Made Out of Computers and Greed
#175> Hideous Monstrosity ... Greed You know what's an even worse "hideous monstrosity" than Bitcoin? The way in which a few hundred million egocentric if not sociopathic people in the global west have allowed themselves to become addicted to excessive consumption of unnecessary trash produced with dirty energy and emitting millions of tons of harmful substances, thereby wrecking the ecosphere on the whole planet. And th…
Someone's hosting a big party somewhere in the middle of nowhere, off-the-grid, so no grid electricity. Summer, sun shining, air is hot like a hair dryer.
They put up a 20 kW generator run on gasoline. It's powering several fridges for cold drinks and ice, sound system, light effects, and so on.
Unfortunately the heat is too much some old person, so they need to be kept cool in a tent and luckily there's an AC unit that could keep the temperature at some tolerable level.
AC would use a few kW. Dang, the generator is maxed out already with all the other stuff.
Aha, someone notices a guy who's plugged in a soldering iron and is burning patterns in pieces of wood.
People start arguing with the guy to stop wasting electricity on his stupid wood art, because it'd be needed for the poor person suffering from the heat.
This is what's happening here.
People don't even think about questioning whether the party should keep going. Whether they should just switch off the fridges. Well, maybe they are questioning, but they still have most of their attention on this one guy using maybe 50 watts.
Meanwhile the sick person in the tent is getting weaker. And people outside are now shouting at this guy to unplug his damned soldering iron or the person in the tent might die.
Re: Bitcoin Is a Hideous Monstrosity Made Out of Computers and Greed
#176> Hideous Monstrosity ... Greed You know what's an even worse "hideous monstrosity" than Bitcoin? The way in which a few hundred million egocentric if not sociopathic people in the global west have allowed themselves to become addicted to excessive consumption of unnecessary trash produced with dirty energy and emitting millions of tons of harmful substances, thereby wrecking the ecosphere on the whole planet. And th…
Think of it this way: Someone's hosting a big party somewhere in the middle of nowhere, off-the-grid, so no grid electricity. Summer, sun shining, air is hot like a hair dryer. They put up a 20 kW generator run on gasoline. It's powering several fridges for cold drinks and ice, sound system, light effects, and so on. Unfortunately the heat is too much some old person, so they need to be kept cool in a tent and luckil…
You do instead point them to the big pieces of the pie chart.
Here's a good overview but anyone who wants to can find such info lying around everywhere: https://astralcodexten.substack.com/p/carbon-costs-quantifie...
Re: Bitcoin Is a Hideous Monstrosity Made Out of Computers and Greed
#177Earlier quoted context omitted.
> It provides those 4 billion people with access to the financial services that they would otherwise never get. It demonstrably does not, and with its transaction rate limitations, it cannot.
are you open to new information? 1. Nigeria has 30 MILLION people that use it. Most of the usage is for cross-border transactions. 2. transaction rate limitations only apply to the settlement layer. retail does not need to use it, only very large transactions that need high settlement guarantees. Lightning network has essentially unlimited tps, currently has close to 1 million (!!) live nodes, and even sub-penny tran…
30 or 34 m users out of 206m isn't the whole market, not close.
> Most of the usage is for cross-border transactions
And why mostly "cross-border transactions" ? Could it be that NIBSS has the domestic market:
https://nairametrics.com/2017/09/26/why-the-m-pesa-miracle-h...
https://www.crunchbase.com/organization/nigeria-inter-bank-s...
So, the huge Nigerian domestic market has a SEPA-like product for domestic transfers. It's not a bitcoin thing.
Do you think that this success (and the success of EU SEPA) won't be noticed in Africa?
https://www.un.org/africarenewal/magazine/november-2021/new-...
Re: Bitcoin Is a Hideous Monstrosity Made Out of Computers and Greed
#178Earlier quoted context omitted.
Or anyone that wants to travel without having their 5 or 10k in savings confiscated under asset forfeiture laws.
But why on earth would a legit person have anything seized?
Re: Bitcoin Is a Hideous Monstrosity Made Out of Computers and Greed
#179Earlier quoted context omitted.
But why on earth would a legit person have anything seized?
I don't know, you'd have to ask the police why they keep funding their police department with seized assets from people without trial or even suspicion.
Re: Bitcoin Is a Hideous Monstrosity Made Out of Computers and Greed
#180Earlier quoted context omitted.
Hateful much? Sorry I was born here and not the super awesome perfect place you are from.
Not in the slightest. The US is a fine country. But it lags behind in banking and payments.