jhwang5

17 ms·

151.
by jhwang5 9y ago
In general, it's a red flag to see people promoting some technology or idea without concrete, end to end examples, and circular logic. It's okay for the authors to make speculations, but I am disappointed at their excessive handwa
152.
by jhwang5 9y ago
Agreed. Essentially, a decentralized ledger does not give you the feature of "enforcing copyrights" for free, unless you have systems built outside of the ledger that does the enforcement. That piece can be built in the meat-world
153.
by jhwang5 9y ago
That sounds extremely dystopian. And since blockchain transactions are irreversible, it means the government can just permanently delete you.
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by jhwang5 9y ago
Sure, but Lituania also didn't need to use the Blockchain for this use case.
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by jhwang5 9y ago
Not sure about censorship-resistance. Bitcoin transactions can be traced back to some identity, especially if the payer's Bitcoins were originally funded with fiat currency that came from the banking system.
156.
by jhwang5 9y ago
You are confounding the demand for decentralized ledgers with the demand for currency that's recorded on the ledgers.
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by jhwang5 9y ago
You are right, and I think this aptly captures just how misunderstood Blockchain is even on this forum.
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by jhwang5 9y ago
The same problem can be solved if they just used Ethereum
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by jhwang5 9y ago
Yes, then you are shifting the security problem to securing the private keys for these identity tokens.
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by jhwang5 9y ago
I think the issue here was that original investors got a cold feet and tried to get a refund, then the ICO sponsor balked.
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by jhwang5 9y ago
Yet they haven't, despite the fact that this phenomenon has persisted for over a year. Either 1) regulators see some practical difficulties in enforcing regulation, or 2) there is some counter-incentive / counter-pressures /
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by jhwang5 9y ago
So your team members all work remotely in different countries?
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by jhwang5 9y ago
Unless the token / currency is purchased with cash, or using something like Monero, then you don't have the benefit of anonymity with cryptocurrencies. All payers can be traced back to some fiat account.
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by jhwang5 9y ago
If you read my #2, I basically acknowledge that crypto is decentralized. What I argued is that decentralized does not mean what the vast majority of people thinks it means, which is that it makes financial system more democratic. Many inclu
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by jhwang5 9y ago
1) Think from their perspective. They have very little upside for integrating with cryptocurrency platforms. It adds nothing to the bottom line. If anything, it subtracts from their bottom line, due to the added compliance work required to
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by jhwang5 9y ago
True, but as you can see from SEC's stance of pump and dump schemes on altcoins, there are ways of blurring the lines of legality.