I don’t follow Bitcoin development very closely, basically just reading about it if a story shows up on New York Times or Wired. If you’re curious as to why, see this post and this thread.
Does your link to the first thread imply that you believe securing one’s bitcoin (and realizing its unique benefits) is ultimately a futile venture, especially in the presence of an adversary of advanced intelligence?
Yes, that looks likely to be the case.
To the second link, I guess you mean to imply the monetary policy of Bitcoin is ultimately flawed due to its deflationary nature?
That’s part of it. If decentralized cryptocurrency is ultimately good for the world, then Bitcoin may be bad because its flawed monetary policy prevents or delays widespread adoption of cryptocurrency. But another part is that cryptocurrency and other cypherpunk/cryptoanarchist ideas may ultimately be harmful even if they are successful in their goals. For example they tend to make it harder for governments to regulate economic activity, but we may need such regulation to reduce existential risk from AI, nanotech, and other future technologies.
If one wants to push the future in a positive direction, it seems to me that there are better things to work on than Bitcoin.
Sorry to be a bother but I had another related thought. I’m reminded of a reply you made to a post on Robin Hanson’s blog:
If the price of diamonds were to plummet, people would have to invent some other way
to verifiably and irreversibly expend resources. That new method might have a better
side-effect than enriching DeBeers, but then again it might have a worse one.
The link to shark fin soup is interesting. Did you mean to imply you were also concerned about the possible environmental
impact of Bitcoin mining? I don’t recall you mentioning that concern since. Maybe you consider the verdict still out on that issue or have since found reason to be unconcerned?
I also find it a bit amusing and maybe even prescient. Here we are in 2016 (as far as we know) and China is overwhelmingly the largest producer of hashcash. The hunt also shows no immediate signs of slowing down..
Thanks, Wei. That really clarifies your position for me and includes a thought I hadn’t previously considered but will certainly spend more time thinking about, re: decentralization risk.
If one wants to push the future in a positive direction, it seems to me that there are better things to work on than Bitcoin.
Obviously you feel it’s very important to tackle the problem of FAI and I think that’s a worthy pursuit. If you happen to have a mental list, mind sharing other ideas for useful things a programmer who hopes to make a positive impact could work on? It might be inspirational. Thanks again.
I don’t follow Bitcoin development very closely, basically just reading about it if a story shows up on New York Times or Wired. If you’re curious as to why, see this post and this thread.
Yes, that looks likely to be the case.
That’s part of it. If decentralized cryptocurrency is ultimately good for the world, then Bitcoin may be bad because its flawed monetary policy prevents or delays widespread adoption of cryptocurrency. But another part is that cryptocurrency and other cypherpunk/cryptoanarchist ideas may ultimately be harmful even if they are successful in their goals. For example they tend to make it harder for governments to regulate economic activity, but we may need such regulation to reduce existential risk from AI, nanotech, and other future technologies.
If one wants to push the future in a positive direction, it seems to me that there are better things to work on than Bitcoin.
I thought for sure you were SN. In any case, I’d still much rather hang out with you than this Australian guy.
Sorry to be a bother but I had another related thought. I’m reminded of a reply you made to a post on Robin Hanson’s blog:
The link to shark fin soup is interesting. Did you mean to imply you were also concerned about the possible environmental impact of Bitcoin mining? I don’t recall you mentioning that concern since. Maybe you consider the verdict still out on that issue or have since found reason to be unconcerned?
I also find it a bit amusing and maybe even prescient. Here we are in 2016 (as far as we know) and China is overwhelmingly the largest producer of hashcash. The hunt also shows no immediate signs of slowing down..
Thanks, Wei. That really clarifies your position for me and includes a thought I hadn’t previously considered but will certainly spend more time thinking about, re: decentralization risk.
Obviously you feel it’s very important to tackle the problem of FAI and I think that’s a worthy pursuit. If you happen to have a mental list, mind sharing other ideas for useful things a programmer who hopes to make a positive impact could work on? It might be inspirational. Thanks again.