What are the deepest questions & ideas people are exploring around crypto? Not get-rich-quick, but rather ideas that may be really transformative. Explanation and links welcome!
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Here's one I heard from a friend: ICOs are interesting because for the first time they really incentivize the creation of new open protocols. SMTP, HTTP, SSL etc all arguably at least as valuable as Google/FB, but no value capture, so people didn't work so much on new protocols.
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Replying to @michael_nielsen
John Backus Retweeted John Backus
ICOs incentivize people to build things where private keys are mandatory. If *anyone* can build an easy to use product that puts private keys in the hands of end users, massive potential is unlocked for identity, privacy, security, and of course finance.https://twitter.com/backus/status/987063369730408448 …
John Backus added,
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Replying to @backus
Can you characterize where private keys are mandatory? Seems like almost anything where people instinctively want control over some aspect of access.
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Replying to @michael_nielsen
Well, if you do a token sale and you don't build a decentralized product then the SEC will probably sue you and the ecosystem will call you a scam (rightfully so). People talk about it as a fund raising mechanism but it is actually a promise about how your product works.
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Replying to @backus
What are a few of the most stimulating things you've read about crypto?
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Replying to @michael_nielsen
Diving deep in the cypherpunk archives. Ex: ideas for darknet markets came from cypherpunks. Fundamentally, darknet markets are Tor for anonymous routing, PGP encryption, PGP for identity, cryptocurrency for payment. All just clever uses of private keys. Tons of stuff like that
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I remember being very excited after reading @VitalikButerin's post on Futarchy in 2014. Lots of things in crypto are hard CS, economics, human behavior, game theory, governance, etc. This post really stimulated all of those if I remember correctly.https://blog.ethereum.org/2014/08/21/introduction-futarchy/ …
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