Economics is the study of human action
Discussion
According to the man who warned you against a centrally planned, artificially fixed rate of supply like BTC and would have favoured a market-driven rate of supply. Which would serve as a price stabilizing mechanism, defending against 10% of your wallet fluctuating on a single day every time a whale primes the pump for a big move.
Have you read Cryptoeconomics by Eric Voskuil?
No, because it promotes a contradiction in terms. Crypto- as a prefix means 'hidden', as in a crypto-anarchist describes a person who puts on the appearances of supporting the State, maybe claims to have voted, etc.
Here we get the spectacle of a *public* grand unified ledger of economic activity under a title that means the opposite. Cryptoeconomics would apply to a blockchainless Pear Credit transaction, or a Cashu transaction that has the Lightning link disabled.
Or a cash transaction or service swap, for example. These are properly termed Cryptoeconomics precisely because there's no ledger. Blockchain, the brilliance, takes the choice of ledger out of the hands of the transacting parties alone, and centralizes the record of every transaction in the same ledger.
Through a mind-fuck word association game, the shadowy originators of Bitcoin have you guys talking in Doublespeak about a massively centralized public ledger, centralized at the data layer and merely distributed over an ad-hoc CDN, not decentralized at the data layer like Nostr, and 180 degrees from private / actual cryptoeconomics.
You can't solve the Generals problem without centralizing something. Blockchains don't solve it without doing so, they just chose to centralize the most dangerous part to actual free trade -- the ledger.
You should still read Cryptoeconomics, you would probably find that Eric agrees with most of those statements.
Valid points.
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The ledger is distributed globally.
You cannot identify a single one of my bitcoin UTXOs.
Why?
Go ahead and identity my #Bitcoin transactions.
"Blockchain, the brilliance, takes the choice of ledger out of the hands of the transacting parties alone, and centralizes the record of every transaction in the same ledger" - Centralizes the record on thousands of ledgers. Yeah that's what decentralized means.
"Through a mind-fuck word association game, the shadowy originators of Bitcoin have you guys talking in Doublespeak about a massively centralized public ledger, centralized at the data layer and merely distributed over an ad-hoc CDN, not decentralized at the data layer like Nostr, and 180 degrees from private / actual cryptoeconomics" - the public ledger is on thousands of nodes = decentralized. Are you OK?
"Blockchains don't solve it without doing so, they just chose to centralize the most dangerous part to actual free trade -- the ledger" - Again, how is the #Bitcoin ledger centralized, if it's on thousands of nodes, distributed around the world? Who is the central authority? Lol
You said it yourself: "distributed around the world". The same data on hundreds or thousands of nodes is how every centralized database works in modern era.
Thousands of nodes hosting the same database = centralized and distributed. That describes the data layer of Facebook or Twitter or Bitcoin.
It doesnt even make sense to speak of " a" decentralized database or ledger in the singular. If its decentralized, its a plurality of databases or ledgers, none of which have all the data or constantly sync up to the same authoritative global state.
An agreed upon time-chain, with rules and not rulers, is a desired feature.
Do you run a Facebook or Twitter server at home? Do you have access to their database? Do you get to have a say in the rules of those social networks?
The answer to all is “no,” because you are not allowed to have a vote in those networks.
An agreed upon time-chain subject to agreed upon code is a benefit, not a weakness.
Nodes can be operated behind TOR if you choose. Coins can be mixed, atomic swaps on LN. What am I missing?
Who owns the following coins?
892d95c094b0b55a5f44f132d9dda50db5e75dff651398ec26af5ab37ef034d0
I can't host a node for Facebook or Twitter because its a private CDN, not because its a centralized database. Gawsh.
Bitcoin's singular database is distributed over an ad-hoc public CDN, thats the actual only difference. Oh, and it determines which singular state is authoritative through consensus rather than admin. Is the White House decentralized because its populated through consensus? Lol.
Bitcoin has a singular, public, centralized, grand unified ledger widely distributed over an ad-hoc public CDN (content distribution network, not content decentralization network lol).
Nostr should show everyone who didn't already know what actual decentralized ledgers (always plural and different if really decentralized) mean.
Well troll demon, let us appreciate NOSTR together. 🫂
Private database = centralized database. Gawsh.
#Bitcoin has a grand unified ledger because I don't like my savings to just disappear due to no node holding my info. Who would believe me that I own 10 million coins, written on my own ledger if no other ledger has info about it.
Are you for real??
To call the ledger centralized, PROVIDE information about the central authority that can change the details anytime they wish. Again, YOU WON'T.
I see, you call air or water centralized too because they all are just the same atoms, right?
Now go ahead and show me the centralized authority that can write into the database in my node. Show me the central authority that can spend my bitcoins, noted on that ledger. YOU WON'T.
As well as you can't identify my #Bitcoin transactions. Just pain words of old man, nobody cares about. We both know why. Because you just talk without any proof. Are you running twitter or facebook server at home, clown?
Keep fighting for the fiat system and supporting the government while attacking the #freedom money with your nonsense.