The blockchain is a tool that allows rogue traders to set up Ponzi schemes without going to prison. Crypto currency is simply an AI augmented attack on the global financial system, a playbook that is the first snowflake in what may become a nuclear winter of finance.
-
-
This Tweet is unavailable.
-
Replying to @examachine
This might be the wrong conclusion. The safety of an infrastructure does not depend on its decentrality, but on provable correctness. Crypto leads to provably bad outcomes, and on top you don't have a central regulation that could deal with them.
2 replies 0 retweets 0 likes -
Replying to @Plinz @examachine
can you expand on the provably bad outcomes ?
1 reply 0 retweets 0 likes -
Replying to @divraj @examachine
The reason why the gold standard fails is that markets lead to a divergent distribution of liquidity: a handful of players ends up with all the cash. You need a regulator that can destroy and create cash (when then gets reinserted at the bottom of the food chain).
4 replies 0 retweets 1 like -
Replying to @Plinz @examachine
if your alluding to the btc fixed supply approach that is not the whole space , see
@MakerDAO ,@CirclesUBI for innovative algorithmic & web of trust models1 reply 0 retweets 0 likes
I suspect that the progressive takes on crypto are effectively a smokescreen that uses idealist libertarian kids as useful idiots to camouflage the intentions of ruthless raiders. Crypto assets are basically a speculative debt equivalent to the GDP of a nation state now.
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.