bachback

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[video] Nick Szabo on Blockchains and Smart Contracts(youtube.com)
1 points by bachback 10y ago|0 comments
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by bachback 11y ago
Seem like you don't see the x^n argument. It should be obvious. Satoshi/Hal Finney were well aware of this, see the link. This has nothing to do with SPV. Producing blocks is what's important.
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by bachback 11y ago
The problem with fiat money is that "inflation" is not visible. ECB, Fed, BoE, BoJ are all hyper-inflating and it will end very badly. Look at the balance sheets and you'll see the hockey stick growth. Has little to do with
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by bachback 11y ago
huh? Computers on the Internet don't coordinate like nodes in a P2P blockchain. Bitcoin's script is limited to a simple stack language for a very good reason.
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by bachback 11y ago
Bitcoin's technical problems are that it fundamentally does not scale. If each node has to verify all transactions that is not sustainable in the long term. Hal Finney knew this way back: https://bitcointalk.org/index.p
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by bachback 11y ago
Failing is too strong a word. It is and will be on the decline versus newer tech. A lot has been learned since 2008 and it seems very likely its better to apply that in a new and fresh system. Ironically Bitcoiners aren't necessarily u
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by bachback 11y ago
The problem is solvable. Yes, Bitcoin is supported by subsidies, but it can also be based on fees per transactions. Inflation doesn't help - that just means old coin holders get diluted. The appeal of Bitcoin is precisely the limited s
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by bachback 11y ago
"World computer" => marketing hyperbole. Vitalik currently spends 0 time coding https://github.com/vbuterin/ I know the people who started this and they are mostly not very technical actually.
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by bachback 11y ago
if you would like to sell me ETH put options, let me know how we can arrange that deal.
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by bachback 11y ago
The problem with Bitcoin development is and was its not related to the economic underpinnings. Maxwell, Back, et. al. have zero understanding of economics. Not a surprise they would invent side-chains which removes incentives from blockchai
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by bachback 11y ago
"they really have solved the problem of creating a generic blockchain which can have anything else built on top of it." No, actually they haven't. Try and explain how a distributed system should be Turing complete in a scient
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by bachback 11y ago
AngelList is likely trying to determine whether this is a real company. How is that felony or fraud?
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by bachback 11y ago
AngelList lists startups, so why are you registering there if you are employed? That's likely a violation of your contract in the first place, and their ToS, and it's public info anyway. AngelList is for companies, not projects. Y
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by bachback 11y ago
the tooling is way superior to common LISP, since it can leverage the huge Java ecosystem. Clojure tooling - it's basically a jar, so if you know how to use Java, you can always fall back to that. ayes, if you want a fully integrated s
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by bachback 11y ago
Can someone explain how Google makes so much money with their ad system and how its related to these kinds of ads? Google originally planned never to do ads. They changed course I think 2002 or so, and are now worth 500B$.
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by bachback 11y ago
Interesting. Do you have details on the 10M$ spend? Unfortunately I have to agree - Blockstream is a mess. Adam Back and Austin Hill have 0 commits to the project and established them as power brokers.
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by bachback 11y ago
certainly don't disagree. An acquaintance of mine has trying to get him work on Cryptocurrencies where Merkle trees are all around. he showed some interest and was very open to new ideas. he has a nice website http://www.mer
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by bachback 11y ago
Both gave speeches about the history of their research: https://www.youtube.com/watch?v=zTGqP0nxX08 https://www.youtube.com/watch?v=1BJuuUxCaaY Merkle had a huge influence also: https://en.wikipe
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by bachback 11y ago
interesting. contact details?
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by bachback 11y ago
"The axioms don't have to be true." No, not at all. Axioms are better thought of as universally accepted truths which everything else depends on. https://en.wikipedia.org/wiki/Logical_atomism
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by bachback 11y ago
Have you followed Gödel's proof in detail? I know Fields medalists who like to speculate about Gödel, but haven't read Russell and Whiteheads Principia Mathematica (PM). Gödel's system is PM, but PM is quite an impossible rea
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by bachback 11y ago
Most of the worlds capital flows through off-shore finance (Cayman Islands, Isle-of-man, etc), see http://treasureislands.org . For finance, biotech, etc. jurisdiction arbitrage is pretty standard. It's what the big corpora
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by bachback 11y ago
the name in itself shows this is not a viable concept at all: a global filesystem? the web was all about getting rid of file abstractions and introducing hypertext. the world (and the net) isn't about just data. its about code, securit
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by bachback 11y ago
Bitcoin + consensus + smart contracts Bitcoin already enforces practical law in some sense. If you dig into this it all comes down to property rights, which now can be implemented on the net with blockchains. Ethereum attempts to go a step
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by bachback 11y ago
absolutely right. how do you translate from the strings "excitations of quantum fields" to "math with a lot of greek symbols"? Very illuminating is the attempt to convert higher math into computer programs (Bertrand Russ
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by bachback 11y ago
yes. and what about the Github after Github? If open code runs everything its going to a pretty important public utility.
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by bachback 11y ago
> researchers work on open source projects for free. There is 6B$ in Bitcoin wealth floating around, surely there are means for funding a few salaries. And that's what is going to happen in the future. Funding will take place throug
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by bachback 11y ago
Core/blockstream's position is not consistent and logical. Should users be able to make decisions? Should core developers be able to over-ride those decisions? Bitcoin is a system with majority decision making. Making Side-chains
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by bachback 11y ago
Mike, thanks for your work, in particular on contracts. I believe you're drawing the wrong conclusion. Yes, Bitcoin is very imperfect, but developer power was never a problem addressed in the system. The crux of the matter has to do wi
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by bachback 11y ago
Well, Maxwell is wrong in the sense that it is the fault of the system of favouring expert rule against user will. Due to mining centralisation users have lost their power, although really never exercised it in full. They only exercise it i

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