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> I have an email from 2009 to a friend that just discovered it, explaining why it was brilliantly elegant technology, but flawed by its speculative nature. We
by tromp 5y ago
> I have an email from 2009 to a friend that just discovered it, explaining why it was brilliantly elegant technology, but flawed by its speculative nature.
Well said. How do you think Bitcoin should have avoided that flaw?
> Meanwhile, I’m still amazed by the cryptography and decentralization, so I’ll be working on something that makes sense to me, and probably nobody will care.
Curious to hear what makes sense to you.
- jl2718 4y agoI think fungibility might be a mistake. I would like to find a way to capture community-specific value. I see currency’s origin as a reward mechanism for pro-social behavior, and today’s socioeconomic system kind of like a tribe that has used rare beads as currency for so long that they are willing to trade Manhattan to an outsider that has provided zero value to the society, in exchange for beads which are, to them, easy to produce and worthless. Bitcoins are hard to produce, and provides a social account for who has what. That’s a huge step, and I think I should have been more impressed with it. It may well be another few hundred years before another monetary revolution of the type I’m interested in. It’s not just a technology problem. I’ve come to accept that greed and exploitation might be a requirement for adoption.