Extremely informative paper on social scalability. I’m starting to wrap my head around what the ramifications are. And I’m wondering, what are the limitations to Bitcoin’s social scalability?
"Scaling computational resources requires cheap additional resources. Scaling human institutions in a reliable & secure manner requires increasing accountants, lawyers, regulators, & police, along with the increases in bureaucracy, risk, & stress such institutions entail."https://twitter.com/richard1storey/status/1069720965750407174 …
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It reaches its limits if there is ever, as once happened with ETH, too much conflict of interest between a user and the developers and other major stakeholders, and not a strong enough dogma of immutability to witsthand it.. Great reason for important users to retain privacy.
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Fiat currencies need to make use of a sound legal system in order to have any value. This is very expensive. Here I explain with more detail:https://link.medium.com/epGpMmWTxS
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Not to mention a massive military to enforce (or prevent) usage of said currency...https://www.youtube.com/watch?v=btF6nKHo2i0 …
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“*Money requires social scalability in its design via security*it should be very hard for any participant or intermediary to forge money(to dilute the supply curve *(gold)is immune from hyperinflation because its value doesn’t depend on a central authority*Bitcoin excels at both”
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is the English language an example of successful social scaling?
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Not a very interesting one, since there's nothing about the language itself that makes it potentially more scalable than almost any other human language. Printing & uniformly literate officers & merchants, two of the keys that made its spread possible, are quite interesting tho.
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Hi Nick, how are you? What are you currently working on? Do you have any new project?
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Is the objective: "scaling computational resources" or "scaling useful computation" or rather converting some computation to more "useful" while increasing security / decentralization?
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Even compute systems are subject to the physics of speed of light and heat dissipation.
@LifeAfterGoogle But, yes, centralization does not scale indefinitely.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Yes but what will all these humans do? Intense home bicycling to produce electricity for coin mining like in Black Mirror?
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and also people without interest and without greed, who do not think of themselves, and preferably neutralized from financial institutions.
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