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Is this a roundabout way of trying to associate cryptocurrencies with criminal groups? In case this isn't obvious, no, there's no trustless way to make an enti

by leppr 6y ago

Is this a roundabout way of trying to associate cryptocurrencies with criminal groups? In case this isn't obvious, no, there's no trustless way to make an entity distribute its real world profits to holders of a crypto token. We're talking about mafias here, groups which specialize in hiding money streams. Only enforcement from a real world judiciary system can enforce dividend distribution.

jrumbut 6y ago
Unless, of course, the same tokens were used to conduct the drug transactions. Then all the token holders have an interest in preventing non-tokenized transactions. This is all ridiculous (and evil of course) but it has a certain internally consistent logic to it. Why would they adopt a new system given they've got such a good grip on current one?
- vmception 6y ago
  Thats why they would mine virgin cryptocurrency. I think people are conflating which crypto is used for what here lol, but thats predictable. There would be two cryptocurrencies involved: the share, and the cash-surrogate as profits. Forget about the problems, think solutions and it will be easier to iterate towards and perceive a system that works.
vmception 6y ago
It doesn't need to be trustless. Is this a roundabout way of trying to associate cryptocurrencies with a prerequisite of trustlessness for everything that uses them? This is just corporations using permissionless architecture, there have been companies doing this on blockchains for almost 10 years. I used to own shares of SatoshiDice for the daily dividends it paid onchain from 2012-2013. The market enforces the behavior. A cartel that pays nice dividends will have a better share price and deeper secondary market, allowing them and their employees to always sell shares for more money. A corporation that doesnt perform well for shareholders doesnt have the same market. I think I’m the one specifically drawing no distinction between criminal groups and liquidity, because they are unrelated concepts.

by leppr 6y ago

jrumbut 6y ago

Unless, of course, the same tokens were used to conduct the drug transactions. Then all the token holders have an interest in preventing non-tokenized transactions. This is all ridiculous (and evil of course) but it has a certain internally consistent logic to it. Why would they adopt a new system given they've got such a good grip on current one?

vmception 6y ago
Thats why they would mine virgin cryptocurrency. I think people are conflating which crypto is used for what here lol, but thats predictable. There would be two cryptocurrencies involved: the share, and the cash-surrogate as profits. Forget about the problems, think solutions and it will be easier to iterate towards and perceive a system that works.

vmception 6y ago

It doesn't need to be trustless. Is this a roundabout way of trying to associate cryptocurrencies with a prerequisite of trustlessness for everything that uses them? This is just corporations using permissionless architecture, there have been companies doing this on blockchains for almost 10 years. I used to own shares of SatoshiDice for the daily dividends it paid onchain from 2012-2013. The market enforces the behavior. A cartel that pays nice dividends will have a better share price and deeper secondary market, allowing them and their employees to always sell shares for more money. A corporation that doesnt perform well for shareholders doesnt have the same market. I think I’m the one specifically drawing no distinction between criminal groups and liquidity, because they are unrelated concepts.