3 ms·

I think you should get a basic understanding of the technology if you are going to comment on it.

• mjburgess 4y ago
  Ah! I really don't get the idea of a distributed immutable append-only log which is reproduced on all clients and whose integrity is cryptographically guaranteed by recomputing hashes on each append. Nor do I understand anything at all about systems of power, accountability, the political intuitions of the state and the economy. I've no idea how central banks regulate the supply of money; i'm totally at a loss as to how trust in the ability for people to keep their promises is the guarantor of the value of money. I'm bamboozled by financial risk, and have no idea how productive economic systems create value by taking bets on economically productive activity. Rather, I'm a rube. I've been told that when you plug computers together and copy-paste cryptographic ledgers then we can get rid of The Fed. So that's what I choose to believe.
  • mechanical_bear 4y ago
    Well, in the end, at least you admit it. ¯\_(ツ)_/¯
    • mjburgess 4y ago
      You realise, I'm being sarcastic... I was playing the part of a crypto-advocate who doesnt know any of those things, and so thinks that a database is going to solve questions about the design of political and economic institutions. It's a genuinely profoundly misinformed view, exploited by scammers. It's so egregiously misformed it's popularity is incomprehensible. It's a lot like those on the far-left who think all world problems can be solved by taxing a few billionaires. An ideological fantasy.
      • mechanical_bear 4y ago
        Yes…and you do realize that I was being sarcastic in turn? Sheesh. You are not doing yourself any favors.