5 ms·

If only there was a way to remove 'trusted 3rd parties' and allow people to decide for themselves, in a wholesome way that aids the macro-ecosystem. cough bitc

If only there was a way to remove 'trusted 3rd parties' and allow people to decide for themselves, in a wholesome way that aids the macro-ecosystem. cough bitcoin cough

sp332 8y ago
Blockchains are shared global ledgers. If you want an individualized solution, blockchains are the opposite of that.
- heimatau 8y ago
  Social media websites aren't private. I think in numerous court cases (at least in the US) even email is considered public. So, with that said, a DLT (dist. ledger tech; i.e. bitcoin) is a great solution for the problems facing a publicly facing company.
  - sp332 8y ago
    There's a weird loophole where law enforcement can get your emails in certain cases without a warrant. It's not the same as being public. https://www.cnet.com/news/doj-we-dont-need-warrants-for-e-mail-facebook-chats/ https://www.cnet.com/news/doj-we-dont-need-warrants-for-e-ma... Anyway I can't understand what the use case would even be here. You need FB to publish their rankings publicly which doesn't need to be decentralized, or you want each person to have their own rankings which don't need to be distributed?
    - heimatau 8y ago
      I don't think publishing their rankings will help. The use case that I think is: A competitive marketplace to compete for the best use of encrypted data. Where each data point and evaluation has a 'cost' to the system and each algorithm competes and entirely based on pseudonyms. Since how we perceive 'trust' is etherial/intangible/ever-changing. I don't think the solution is an easy one to create but I do think the building blocks to them are (no pun intended).
      - sp332 8y ago
        Best use of encrypted data? What does that have to do with ranking news organizations?
        heimatau 8y ago
        One must think differently if you wanted to use a DLT/Bitcoin solution. It's not simply just a ledger. I'm talking about every data point that facebook has, to be hashed and competitively manipulated in a global market place. Trust is very relative but using a bitcoin-like solution would allow for the market to compete for the better solution, each and every day. Facebook's authoritarian solution won't last forever, nor should it; allowing competition through FB's data could be a way that FB stays in the limelight.
nradov 8y ago
Bitcoin is rather bad for the Earth's ecosystem considering the carbon impact of building and operating mining hardware. I don't see anything wholesome about that.
- heimatau 8y ago
  It's a shame you only regurgitate information instead of looking up things yourself. Based on the 'total consumption chart' [1] you are incorrect. Even though many, including Digiconomist, only look at the current value. They are distorting the narrative of scientific inquiry. As, in another 10 years, in hindsight, the value of mining Bitcoin today is significantly more efficient than mining gold was today. Gold, when it was used as a global standard, produced multitude more in CO2 pollution than it produces. Economies of scale and as people use the 'digital gold', value increases. An apt comparison would be during the various gold rushes (hundreds of years ago). I don't believe I've seen a true apples to apples comparison. But now you know how to compare a mature asset like gold, to a new asset like Bitcoin. It's not in today's measure. It's in the relative situational circumstances that are equivalent. Also, if Elon Musk were to obtain one astroid with sizable portions of gold on it. Well, then gold's value will be debased and it will be difficult to easily compare the two. Every factor matters. Please don't act like it's a huge waste of energy, it's actually not even close to many other forms of money that humanity has used. [1] - https://digiconomist.net/bitcoin-mining-more-polluting-than-gold-mining https://digiconomist.net/bitcoin-mining-more-polluting-than-...
  - nradov 8y ago
    Yes gold mining causes environmental damage. That's one of many reasons why it's a good thing we moved away from the gold standard to fiat currencies. Neither Bitcoin or precious metals are a sound basis for a complex international financial system.

If only there was a way to remove 'trusted 3rd parties' and allow people to decide for themselves, in a wholesome way that aids the macro-ecosystem. cough bitcoin cough

sp332 8y ago

Blockchains are shared global ledgers. If you want an individualized solution, blockchains are the opposite of that.

heimatau 8y ago
Social media websites aren't private. I think in numerous court cases (at least in the US) even email is considered public. So, with that said, a DLT (dist. ledger tech; i.e. bitcoin) is a great solution for the problems facing a publicly facing company.
- sp332 8y ago
  There's a weird loophole where law enforcement can get your emails in certain cases without a warrant. It's not the same as being public. https://www.cnet.com/news/doj-we-dont-need-warrants-for-e-mail-facebook-chats/ https://www.cnet.com/news/doj-we-dont-need-warrants-for-e-ma... Anyway I can't understand what the use case would even be here. You need FB to publish their rankings publicly which doesn't need to be decentralized, or you want each person to have their own rankings which don't need to be distributed?
  - heimatau 8y ago
    I don't think publishing their rankings will help. The use case that I think is: A competitive marketplace to compete for the best use of encrypted data. Where each data point and evaluation has a 'cost' to the system and each algorithm competes and entirely based on pseudonyms. Since how we perceive 'trust' is etherial/intangible/ever-changing. I don't think the solution is an easy one to create but I do think the building blocks to them are (no pun intended).
    - sp332 8y ago
      Best use of encrypted data? What does that have to do with ranking news organizations?
      - heimatau 8y ago
        One must think differently if you wanted to use a DLT/Bitcoin solution. It's not simply just a ledger. I'm talking about every data point that facebook has, to be hashed and competitively manipulated in a global market place. Trust is very relative but using a bitcoin-like solution would allow for the market to compete for the better solution, each and every day. Facebook's authoritarian solution won't last forever, nor should it; allowing competition through FB's data could be a way that FB stays in the limelight.

nradov 8y ago

Bitcoin is rather bad for the Earth's ecosystem considering the carbon impact of building and operating mining hardware. I don't see anything wholesome about that.

heimatau 8y ago
It's a shame you only regurgitate information instead of looking up things yourself. Based on the 'total consumption chart' [1] you are incorrect. Even though many, including Digiconomist, only look at the current value. They are distorting the narrative of scientific inquiry. As, in another 10 years, in hindsight, the value of mining Bitcoin today is significantly more efficient than mining gold was today. Gold, when it was used as a global standard, produced multitude more in CO2 pollution than it produces. Economies of scale and as people use the 'digital gold', value increases. An apt comparison would be during the various gold rushes (hundreds of years ago). I don't believe I've seen a true apples to apples comparison. But now you know how to compare a mature asset like gold, to a new asset like Bitcoin. It's not in today's measure. It's in the relative situational circumstances that are equivalent. Also, if Elon Musk were to obtain one astroid with sizable portions of gold on it. Well, then gold's value will be debased and it will be difficult to easily compare the two. Every factor matters. Please don't act like it's a huge waste of energy, it's actually not even close to many other forms of money that humanity has used. [1] - https://digiconomist.net/bitcoin-mining-more-polluting-than-gold-mining https://digiconomist.net/bitcoin-mining-more-polluting-than-...
- nradov 8y ago
  Yes gold mining causes environmental damage. That's one of many reasons why it's a good thing we moved away from the gold standard to fiat currencies. Neither Bitcoin or precious metals are a sound basis for a complex international financial system.