Cryptocurrencies are vulnerable to 51% attacks. This is good: If we transport most of the economy to the blockchain and then someone manages to commandeer it, this can in effect lead to a peaceful transition to a world government. We find the strongest living capitalist and empower them still further, in case there is any threat to our entire species.
More immediately, OpenAI and other companies who have or would endorse throwing in their lot with the foremost AI company should now, while they’re still more than one quarterly earnings report away from an AI race, formalize this via contract.
I think you’re missing the fact that “the economy” isn’t actually about currency or accounting. Those are ways of tracking the economy, which consists of various goods and services that people provide to each other.
If any given currency (crypto or not) becomes untrustworthy, it’s value goes to zero, and other currencies take over as accounting mechanisms. Often with some violence in disputed ownership of the actual stuff that the currency was supposed to have been tied to.
What if we suppose that wealth doesn’t track merit that well, and accumulating 51% of wealth most likely signals the measurement error due to noise/randomness/luck?
And even inasmuch as it tracks capitalistic merit, it might not track other things we care about, which makes it problematic leaving all eggs in one basket.
We happen to have landed in a scenario where distributing eggs across baskets is the silly move. Making the holder of a random dollar world dictator would be an improvement.
Cryptocurrencies are vulnerable to 51% attacks. This is good: If we transport most of the economy to the blockchain and then someone manages to commandeer it, this can in effect lead to a peaceful transition to a world government. We find the strongest living capitalist and empower them still further, in case there is any threat to our entire species.
More immediately, OpenAI and other companies who have or would endorse throwing in their lot with the foremost AI company should now, while they’re still more than one quarterly earnings report away from an AI race, formalize this via contract.
I think you’re missing the fact that “the economy” isn’t actually about currency or accounting. Those are ways of tracking the economy, which consists of various goods and services that people provide to each other.
If any given currency (crypto or not) becomes untrustworthy, it’s value goes to zero, and other currencies take over as accounting mechanisms. Often with some violence in disputed ownership of the actual stuff that the currency was supposed to have been tied to.
Yeah, you’d need to have the social expectations be that 51% attacks are a legitimate part of the mechanism.
What if we suppose that wealth doesn’t track merit that well, and accumulating 51% of wealth most likely signals the measurement error due to noise/randomness/luck?
And even inasmuch as it tracks capitalistic merit, it might not track other things we care about, which makes it problematic leaving all eggs in one basket.
We happen to have landed in a scenario where distributing eggs across baskets is the silly move. Making the holder of a random dollar world dictator would be an improvement.