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Since the article keeps bringing up that everyone involved is "all white," i.e. a 10% minority in SA, that probably means that they won't be able to keep a good relationship with the SA government if it collapses and they'll probably end up with the military stealing all of their stuff. Too bad they can't immigrate to America, they are clearly smart and entrepreneurial. Unfortunately collapsing states tend to turn on…
Earlier quoted context omitted.
> Has anyone figured out how to verify the backing on a blockchain? If that was possible Tether's fraud would have been exposed sooner. And this is always the problem with block chain. You can't cryptographically verify real life things that people care about like how much money is in someone's bank account.
>And this is always the problem with block chain. You can't cryptographically verify real life things that people care about like how much money is in someone's bank account. There are a lot of problems with applying blockchain to solve real problems. This one is not one of the problems. What this is is people using the blockchain for things it was not designed to do.
With Tether, the trustchain ends at Tether. And even if you could audit Tether somehow, there's nothing stopping them from creating another stable coin and use the same currency they have in both coins.
"all white" in South Africa is a minority struggling against majority. They can't be "far right". Far Right means nativists which in South Africa continues to be black people and not white.
Racial discrimination aside, it gives me hope to see liberal/libertarian ideals holding against the ever expanding state in almost every country on Earth. Liberty and self determination are dying virtues, and people don't know what it is they're giving up so willingly.
Was any actual racial discrimination cited?
For countries where economic standing/language/culture are very highly associated with race, then it's entirely possible for populations to sort themselves along racial lines without race actually being an active factor...I think it's just the "100% white" part that is making me assume that it's likely a factor.
Racial discrimination aside, it gives me hope to see liberal/libertarian ideals holding against the ever expanding state in almost every country on Earth. Liberty and self determination are dying virtues, and people don't know what it is they're giving up so willingly.
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> Commerce would continue, with state-backed currencies swapped for crypto alternatives that float freely on an open market. I'm assuming this means a stable coin? Has anyone figured out how to verify the backing on a blockchain? If that was possible Tether's fraud would have been exposed sooner. Also, why is Facebook's new currency rumored to be backed by multiple currencies? That seems like it would add volatility…
> Has anyone figured out how to verify the backing on a blockchain? If that was possible Tether's fraud would have been exposed sooner. And this is always the problem with block chain. You can't cryptographically verify real life things that people care about like how much money is in someone's bank account.
How is a ledger entry in a bank's computer more "real" than a ledger entry in a public blockchain.
Funny how blockchain discussions proceed in endless circles when people believe without evidence that familiar money is in any way "real" instead of an imaginary social construct, while blockchain money is somehow fake, fraudulent or unreal.
Let's guess the next argument in the endless circle: (a) money is backed by the military, (b) money is backed by tax payments, (c) money is backed by debt, or (d) tulips.
Earlier quoted context omitted.
> Has anyone figured out how to verify the backing on a blockchain? If that was possible Tether's fraud would have been exposed sooner. And this is always the problem with block chain. You can't cryptographically verify real life things that people care about like how much money is in someone's bank account.
> real life things that people care about like how much money is in someone's bank account How is a ledger entry in a bank's computer more "real" than a ledger entry in a public blockchain. Funny how blockchain discussions proceed in endless circles when people believe without evidence that familiar money is in any way "real" instead of an imaginary social construct, while blockchain money is somehow fake, fraudulent…
Earlier quoted context omitted.
> real life things that people care about like how much money is in someone's bank account How is a ledger entry in a bank's computer more "real" than a ledger entry in a public blockchain. Funny how blockchain discussions proceed in endless circles when people believe without evidence that familiar money is in any way "real" instead of an imaginary social construct, while blockchain money is somehow fake, fraudulent…
I'm not arguing it's more real, I'm arguing you can't cryptographically guarantee how many dollars some entity owns. In this context real life mean off block chain information. Basically the block chain can only verify whats on the blockchain. It can't make any guarantees about off block chain things except that someone with a possession of a certain private key said something at some time.
Things like legal contracts in a filing cabinet, bank databases, gold bars in a vault, or how many coins I say are in my pocket.
For all those things, the blockchain can act as a database, but you need to trust someone that the entries in the database correspond to these other things that the database is supposedly tracking.
Racial discrimination aside, it gives me hope to see liberal/libertarian ideals holding against the ever expanding state in almost every country on Earth. Liberty and self determination are dying virtues, and people don't know what it is they're giving up so willingly.
Was any actual racial discrimination cited?
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challenging me to name a country where "blacks have gotten it right"
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There is a map of South Africa, with a magnifying glass hovering over Orania. The village is surrounded by spear-bearing Africans and huts emblazoned with ANC flags. The introduction reads: "The year is 2017 AD. South Africa is entirely occupied by the blacks. Well, not entirely … One small town of indomitable Afrikaners still holds out against the invaders."
> Commerce would continue, with state-backed currencies swapped for crypto alternatives that float freely on an open market. I'm assuming this means a stable coin? Has anyone figured out how to verify the backing on a blockchain? If that was possible Tether's fraud would have been exposed sooner. Also, why is Facebook's new currency rumored to be backed by multiple currencies? That seems like it would add volatility…