Jabanga

44 ms·

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by Jabanga 9y ago
Thanks!
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by Jabanga 9y ago
Hi 813C92CCE734F82BCB8643577EA0B237431237F1
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by Jabanga 9y ago
>How do you get a "do-over" for not realizing that weird new financial instruments are risky? People didn't realize the smart contract was at great risk of being hacked, and the project, meaning thought leaders in Ethereum
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by Jabanga 9y ago
>I was in the irc room during that time. It was the number batted around by ethdevs in freenode #ethereum. Let me guess, you don't have the logs. "I was in the irc room at the time" yeah okay that's credible. This is
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by Jabanga 9y ago
People are not meant to work in factories. They're meant to own parts of factories and other productive enterprises. Ethereum reduces the barriers to entry to becoming a stakeholder in value created by enterprises. The cost to exchange
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by Jabanga 9y ago
Yes you can call the person an attacker. The rules of a mature Ethereum protocol should be neutral to the intentions of users, including those that one would reasonably characterize as hackers, but Ethereum was not a mature protocol at the
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by Jabanga 9y ago
The project was very young, and the community miniscule, at the time. It could be justified as a one-time beginner's incident. The network and ecosystem can be expected to behave very differently when it's mature, or even today, g
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by Jabanga 9y ago
The Core founders invested very little in the DAO, and pushing for a decision that went against the interests of the network would have hurt them far more through reducing the value of the portion of their holdings they still held, than hel
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by Jabanga 9y ago
>That kind of napkin math is both dangerous and misleading. The block size limit is a security parameter, and the math above assumed that nobody was trying to attack the network. In attack situations, a larger block size is more expensiv
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by Jabanga 9y ago
Yes they can do that. But that's not what the parent comment asserts. With respect to Banks and governments, they're different in that they have a monopoly over their jurisdiction.
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by Jabanga 9y ago
If you break down the necessary costs (storage, bandwidth, CPU cycles for verification), it's actually very low, at about $0.001 (a tenth of a cent) a transaction: https://bitcointalk.org/index.php?topic=3332.0 The onl
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by Jabanga 9y ago
Physical cash is a primitive technology so its use cases are quite limited given the superiority of alternatives. Electronic cash in the form of cryptocurrency can make money transfer much cheaper than it otherwise would be. It also doesn&#
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by Jabanga 9y ago
They're not the same arguments at all. The corollary would be if you started working for a company, and the company then created a union with other companies, and made it illegal for you to work for any company other than those that ar
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by Jabanga 9y ago
>If an employer really wants to hire non-union labor, they can leave their company and join a different one that doesn't have a union. This makes no sense. The employer shouldn't be forced to 'have a union'. It's
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by Jabanga 9y ago
You're wrong. The Triangle Shirtwaist fire was a result of the economy being primitive at the time, with very little resources available per capita for risk reduction. Work place accidents were decreasing every single decade before coo
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by Jabanga 9y ago
If collective bargaining wasn't mandatory, and employers were free to decide who to hire and fire, the manufacturing sector in the US would be vastly larger, and offer millions more jobs to Americans. There is very little that does mor
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by Jabanga 9y ago
Collective bargaining is never mandatory on the employee side. The employee is not forced to work for a particular collective. The employer on the otherhand is forced, by law, to only hire people who are part of some government-recognized c
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by Jabanga 9y ago
Miners can't change the issuance schedule. They can only delete blocks and form new ones with valid* transactions, and only if they collude, and are okay with destroying the value of their capital assets. * transactions where the priva
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by Jabanga 9y ago
You're welcome. Thanks for considering my viewpoint. With respect to complexity: the world is filled with complex services where a purchase is a bet on outcomes that will unfold over many years. This myth that people cannot organise th
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by Jabanga 9y ago
This is unfortunate. The world needs electronic cash, for all the same reasons it needs physical cash. If it weren't for financial bearer instruments, millions would have died all across the globe over the last decade. To understand wh
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by Jabanga 9y ago
Peer-to-peer electronic cash has numerous uses beyond tax evasion and money laundering, just as physical cash does. But to your point, even these laws are part of a new trend. Money laundering is a relatively new crime, and widespread taxat
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by Jabanga 9y ago
Leaded gasoline damages the health of others without their consent. Restricting pollution is obviously not the kind of "regulation" I'm talking about. We should abolish mandates requiring nutritional labeling, safety rating
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by Jabanga 9y ago
>They don't take into account the fact that human beings are not independent, perfectly rational actors. and >That's the practical reality of fallible humans with finite computational capacity. and >Fortunately, laws do r
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by Jabanga 9y ago
Claiming that adults making their own decision to buy the equivalent of a digital collectible, is a scam, and should be prohibited with long stretches of time in prison for those who take part, is why income disparity continues increasing [
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by Jabanga 9y ago
I'm not an anarcho-capitalist, but I am a fierce proponent of private property rights, and I regularly make deontological arguments for them. My central argument is that self-ownership (the right to our person) implies a right to appro
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by Jabanga 9y ago
>If property rights are respected by all, some small fraction of humanity will indeed become fantastically wealthy, but the vast majority would be on the tail end of a very thinly tailed distribution as humans become worthless for produc
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by Jabanga 9y ago
>The only people for whom bitcoin is valuable are people for whom the former outweighs the latter, i.e. people for whom trust is extremely costly and zero-trust extremely valuable. Basically, criminals. There's a decent population o
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by Jabanga 9y ago
Commerce is economic production and coordination at scale. It enables humanity to have a far higher standard of living than would otherwise be possible. In my opinion, it is a moral imperative to remove all restrictions on voluntary economi
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by Jabanga 9y ago
If you're telling Joe that he can't give Bill a ride, in exchange for money, that to me seems very oppressive.
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by Jabanga 9y ago
Right. And the development of a global ecommerce market would have been severely hampered if the cypherpunks hadn't won the "crypto wars".

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