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Maloney, best explanation of blockchain, cryptos


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#11 AChartist

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Posted 26 December 2017 - 12:44 AM

At the beginning is reading what clif high said about hashgraph

 


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#12 Rich C

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Posted 26 December 2017 - 09:26 PM

I don't get this, I admit it.  But I listen to some of the video, ok I didn't make it through most of it, and my eyes glaze over.  Regarding the discussion of Euclidean geometry, it just works.  Yes, it does.  Does that have anything to do with bitcoin working?  None that I can see, so why have it in the discussion?  I hear about a bunch of computers racing to solve a math problem.  I was a math major who worked in IT for 40 years, and does anyone expect me to believe there is a value proposition in this that mere mortals in the real world can understand?  No.  What is the bitcoin value proposition, how do I measure it, and how would I determine if based on its value proposition, it should be bid higher, or knocked down.

 

If the world invented 100, or 1,000, or 10,000 or ..., you get it, but how will the existence of the next X cryptocurrencies affect the value of the original bitcoin?

 

This has the distinct disadvantage of being highly theoretical and complex.  I don't think that makes it appropriate for general usage.

 

Geometry works, I'll give it that.  But I can VERIFY the Pythagorean Theorem with a ruler, a sheet of paper and a crayon.  I KNOW it works and I can see it.

 

Heck I might have a better shot at understanding the workings of the US Treasury and the Federal Reserve Board!

 

I'm not going in. 


Edited by Rich C, 26 December 2017 - 09:28 PM.

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My swing trades typically last a couple of weeks to a couple of months and I focus on SPY.


#13 AChartist

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Posted 26 December 2017 - 10:47 PM

I cant say I understand that well, there was an interview with clif that others who needed it, thought was the best explanation, try this one below.

 

I dont like that it favors industrial mining enterprise with energy advantages. Small scaler miners would

have to do other less valuable coins not bitcoin at this stage. The mining part I dont really get and it wasnt that important to me, maybe you can read the Sathoshi

white paper.

 

The parts of it I understand is decentralized free market constitutional deflationary money. 

 

There is the value of permanent consensus ledger, public ledger, eliminated double spending and check kiting of government. Eliminates gov capability of destroying the 

money is eliminating the their capability of war, of autonomic poverty and slavery entropy.

 

It value is truth, the truth teller, cant be corrupted, centralized, debased. Its value is given by the market for those qualities relative to the negative value of labor debasement fiat.

Thats a vast difference that may not be discoverable yet, unlimited future value vs total loss of life is the infinite differential.

 


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#14 AChartist

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Posted 27 December 2017 - 11:14 PM

i started to write but is too esoteric to say it right.

Time is money, what does that mean. Why is the experienced worker paid more than the novice even when the experienced doesnt

have the physical energy or endurance. Because he can do it more effectively with less effort, less time.

 

Time is the ever present now, all history all time is in this time now, all future is right now too. What I do at work in a given moment is a summation of all my time

but now that I know a connection to history that is impressed in my dna. I was never conscious of it when younger, are now.

 

Money being time, has to improve with the aggregate experience that makes this moment more effective more productive more valuable than the last moment.

 

Money has to improve increase grow with human experience or it is not money. That is how they accomplished slavery by destroying the money equals destroying time.

 

Bitcoin grows with time because that is the natural human state of progress, and that is a finite number of them stores all value of all time.


Edited by AChartist, 27 December 2017 - 11:16 PM.

"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#15 CLK

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Posted 28 December 2017 - 01:30 AM

The problem I have with bitcoin as currency is it is too volatile, fiat is stable, you and the merchant know and trust what it can purchase, at any given time. Bitcoin could be down 10-20% in hours or 50% in days. Say you want to buy a house, you save up your bitcoin, from contract to close bitcoin drops too much and you lose the contract. The problem is not fiat, it's wage deflation for the middle class, the last 30 years the CEO's and management kept most of it all or the upper 1%. Before that time the gap was no more than like double what the average worker made. 


Edited by CLK, 28 December 2017 - 01:31 AM.


#16 AChartist

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Posted 28 December 2017 - 02:45 PM

The problem I have with bitcoin as currency is it is too volatile, fiat is stable, you and the merchant know and trust what it can purchase, at any given time. Bitcoin could be down 10-20% in hours or 50% in days. Say you want to buy a house, you save up your bitcoin, from contract to close bitcoin drops too much and you lose the contract. The problem is not fiat, it's wage deflation for the middle class, the last 30 years the CEO's and management kept most of it all or the upper 1%. Before that time the gap was no more than like double what the average worker made. 

 

It is a problem right now until it is ubiquitous, could be 2020 or so when all these companies are the foundations and backbone of everything,

2018 is a very early rollout year, 2019 is a mass adoption year. Webbot sees participation increasing from 1.5% to 13% in about one year.


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan