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RE: Future of DECENTRALIZED Currency Is Not Bitcoin

in #blockchain8 years ago

The natural tendencies of the governance structures of these systems is towards centralization. Got it. Anyone who can solve this problem will have solved one of the greatest problems in human history.

Weren't you planning to launch a coin based on your work?

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Weren't you planning to launch a coin based on your work?

I am trying. Can't promise. But I will release my design eventually in any case. Indeed I do actually contrast political economics and democracy to my design in my whitepaper. I'll quote a passage for you which doesn't reveal too much technologically:

It seems plausible that there is the additional motivation of jealously (aka “crab bucket mentality”) in that any participant or faction wouldn’t want to allow any other participant or faction to be able to cheat to obtain an (especially non-meritorious) advantage. A generative essence that seems to drive the viability of decentralized systems is that if no factions are powerful enough to overcome the checks of the other factions, then the resultant Nash equilibrium is a stalemate that preserves decentralization and meritocracy, which is the antithesis of a power vacuum such as is otherwise the case with politics and democracy.

I think you're on the wrong path. Crab mentality does perfectly describing the communism behaviour and I guess you'll fail on the political part. Maybe decentralisation need a communism approach but you'll have to fight the second law of thermodynamics and put constant energy to stop increasing it's entropy. If you want to succeed then you have to decouple the ledgers incentives from currency business. Something like: all participants in an economic system having a incentive to put a certain amount of energy gained from their own business to support a communism currency system. Without the decentralised character of this currency their business will fall. This kind of system is very weak. You're are fighting with Heisenberg uncertain principle and implicit with second law of thermodynamics. Look at the nature of reality, where do you see decentralisation in nature and ask you why you don't ? You're trying to violate first principle.

My whitepaper will refute you.