asynchrony

8 ms·

31.
by asynchrony 8y ago
A blockchain isn't optimal for anything. If it was there should be some evidence of it improving something in the real world, no? Something other than a cult of buzzwords and speculation.
32.
by asynchrony 8y ago
So why not use a central database and allow all stakeholders to replicate and keep their own logs of edits. It would be far more efficient. It would lack a certain buzzword though.
33.
by asynchrony 8y ago
Faith is required to sustain belief in promises that are never delivered.
34.
by asynchrony 8y ago
Putting lies into a blockchain doesn't make them true. Lettuce can still kill you in a post-blockchain society.
35.
by asynchrony 8y ago
I actually thought this was talking about the Ethereum Foundation paying its employees in ETH at first.
36.
No evidence of benefits of blockchain in international development(merltech.org)
7 points by asynchrony 8y ago|0 comments
37.
by asynchrony 8y ago
Hey, I'm an FM and a full-stack web dev (though mostly frontend over the past few years). I'd love to be a beta tester. Any way I can contact you?
38.
by asynchrony 8y ago
Mt.Gox manipulated the price upwards then insiders stole the coins in the last bubble. Now the fraud is more distributed, but it's pretty much the same story. There's a lot more scrutiny this time around. "Fool me twice"
39.
by asynchrony 8y ago
The speculative pricing bubble and the hype around the technology are two different things.
40.
by asynchrony 8y ago
This is effectively funded by all the student loans and double mortgages that FOMO drove people to trade real money for virtual commodities at the peak of last year's bubble. I'm calling it. We have reached peak blockchain hysteri
41.
by asynchrony 8y ago
Savers can choose to loan their currency to a bank for some guaranteed returns, they can loan it to corporations and public institutions in the form of bonds, or they can purchase ownership of real estate and businesses through equities. Th
42.
by asynchrony 8y ago
Inflation benefits borrowers more than hoarders. Your example is strange because in the one you compare a base currency to economic activity in that currency and in the other you take a loan in one currency in order to transact in another.
43.
by asynchrony 8y ago
The only benefit that doesn't involve evading regulations is (a dream) of lower fees for sending money. But even that hasn't materialized and comes with rather large costs.
44.
by asynchrony 8y ago
I think he understands the technology better than a fair percentage of casual readers here. Perhaps you should read the rest of the paper.
45.
by asynchrony 8y ago
If you can’t offer a concrete example of more efficient micropayments or useful smart contracts, you’re basically talking about how great the second coming of Jesus might be.
46.
by asynchrony 8y ago
There must some ironic meaning of "economy" that I'm not aware of. Societies have gone through many recessions and depressions. Is that what you're advocating?
47.
by asynchrony 8y ago
If the primary medium of exchange is an inflating currency then possessors are incentivized to exchange it. If debt is owed in a deflating currency than the burden of all debts will only grow. Could you address these points rather than simp
48.
by asynchrony 8y ago
There already many ways to exchange cash for assets that are likely to appreciate in value (gold, real estate, equities, bitcoin). Won’t a depreciating asset like cash always make for better incentives to participate in trade than an apprec
49.
by asynchrony 8y ago
I think your point about infinite divisibility is an interesting one. But the main downside is that there is no incentive to exchange the currency (a pizza or ownership in a business) when you know that the currency will be more in a year t
50.
by asynchrony 8y ago
Yes, human civilization has been doing this for quite a long time. I'm not really sure what your point is relative to inflation.
51.
by asynchrony 8y ago
I was just trying to be direct. What would be a more polite way to say that?
52.
by asynchrony 8y ago
You can replace "grow" with "function" if you prefer.
53.
by asynchrony 8y ago
If a regulated banking system mixes with an unregulated banking system everything becomes an unregulated banking system. Also proof-of-stake has been promised for so long I would be embarrassed to talk about it if I worked at the Ethereum F
54.
by asynchrony 8y ago
Inflation is a desirable feature in a currency. A currency should be a medium of exchange. Deflation encourages people to hold currency rather than exchange it.
55.
by asynchrony 8y ago
You could certainly accept bitcoin for black market transactions and spend bitcoin on black market transactions, but wouldn't most participants want to transport their gains to the real world eventually?
56.
by asynchrony 8y ago
I like your idea of time-arbitrage. I think Uber and AirBnB are good examples of startups that have created value by operating in loosely regulated areas. Still, I haven't anything emerge from the crypto space that appears to have a tr
57.
by asynchrony 8y ago
Your premise is to "fix" the monetary system, but you failed to articulate the issues that you want to resolve.
58.
by asynchrony 8y ago
Could you try saying this some other way? I don't grasp your meaning at all.
59.
by asynchrony 8y ago
I can definitely see the attraction for entrepreneurs, just not the value for anyone else.
60.
by asynchrony 8y ago
At some point they'll want to exchange their profits for real goods and services. They will rely on some exchange service to cash out eventually.

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