Read all of it. Thought it was great.
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Iām crediting Levine for the pump. He saved crypto.
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one question with which Iāve accidentally killed entire over-engineered projects before - āwhat problem does this solve?ā
I canāt think of one. decentralized internet? ok. I guess thatās a reasonable goal, albeit in my opinion a completely unrealistic one. thatās all I got. as far as currency, I donāt see anything inherently wrong with fiat, and since the price of crypto frequently correlates to the performance of markets that are backed by fiat, and inevitably gets exchanged for fiat, seems a little fucking silly.
Crypto makes crime easier.
A lot of crimes are good.
Therefore, crypto is good.
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This is an easy question to answer. Crypto is a potential solution for people who think government is the problem.
Solution to what?
Having to trust bankers
Might need a solution or two when senate majority leader Herschel Walker oversees the confirmation vote for treasury secretary My Pillow Guy.
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Can you go another step further. Which banking problem does it solve?
What problem does bowling solve? Try to have some fun out there gents.
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For real, without crypto we wouldnāt have shadow quest, which makes it all worth it
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Shadow quest spawned this emoji i think so Iāll take it
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This has reminded me to go fight my warriors. FOR GLORY!
Open public ledger and segregation of accounts. in that excellent article posted upthread, levine talks about how inefficient and slow stock trades and property deeds are. you need to hire professional middlemen to handle these things and even with them it takes days to confirm a simple and straightforward transaction.
itād be better for regular people if the inefficient databases like the ones at the county clerkās office were upgraded to more efficient, public ones, like a blockchain ledger. like i think weāre due to upgrade this process of spending hours driving and standing in line to the ease of basically like sending an email.
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I for one see no problem with a massively indebted fascist government of religious zealots controlling the issuance of the money supply, what could possibly go wrong?
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Does the property office that handles a transfer a deed of sale provide any services behond simply changes names in a DB?
Does the current one? Dealing with county clerks sucks and is horribly expensive when you have to hire a lawyer to perfect property rights and the like in the middle of nowhere.
At least in Australia it would.
- verifying identity
- verifying (at least theoretically) that the seller and buyer have informed consent
- ensuring that tax is paid on the sale (stamp tax. May be an Australian only thing?)
- perhaps (guessing here) verifying that there arent competing claims or liens on the property
In exchange for all this admin. The state then provides legal systems and enforcement mechanisms that should (again in theory) protect both parties in the case of fraud etc.
As always. You could build all of this into the blockchain, but itās not clear that the blockchain provides any advantages, and given that at least some of the above service actually depend on a centralized 3rd party, may actually be worse
What if all property transactions, liens, and other claims were recorded on a blockchain ledger where only a government entity is allowed to add to the ledger but anyone is allowed to look at the Blockchain for maximum transparency?