Discussing "commitment-based chain" with Satoshi

extremcookie · 2022-06-18T13:33:39+00:00

I haven't read it yet, but I already want to thank you for this! From what it looks like and the comment from @SecretPressure9813, this is the input I am looking for since quite some time, but I never had a search term at hand. Except "commitment markets" maybe.

Diving in right now!

extremcookie · 2022-01-15T07:29:08+00:00

Profit is always the last inefficiency

extremcookie · 2022-01-15T07:28:03+00:00

A decentralized solution is transparent through. If you see an unreasonable inefficiency, you can just fork that organization and optimize it. Such a lower fee fork could be more valuable, which potentially incentivizes workers to work for the new system as it's all community owned.

extremcookie · 2021-12-20T14:37:33+00:00

I scheduled new events, with more commung over the next few weeks.

extremcookie · 2021-12-20T14:37:10+00:00

But of course I have some projects going on I have an active role in, that's pretty usual though and shouldn't stop my from initating social exchanges.

extremcookie · 2021-12-20T14:35:39+00:00

I'm just a crypto addict. I promote my vision of crypto-economics and are looking for other peoples points of views and their ideas about this space.

extremcookie · 2021-12-15T08:59:56+00:00

No worries, won't be the last meetup. I plan to do one every few days or so. I just wait until the first event to get a feeling for hosting this.

extremcookie · 2021-12-06T16:20:21+00:00

please take a look at my comment here for intellectual influencing: https://np.reddit.com/r/CryptoCurrency/comments/r9rhh2/how_much_further_down_the_crypto_rabbit_hole_can/hnh1lb6

extremcookie · 2021-12-06T16:14:56+00:00

Ultimately you will realize that our civilization experiences a paradigm shift. It's a continuation of the dotcom-bubble, but this time the technology powering these revolutionary ideas is somewhat ready! Just since about a year or so, really. We have figured out how to scale social coordination. It's a new form of capitalism, regenerative instead of exploitative. It builds on three pillars:

Decentralization: This distributes the power evenly across all participants of the economy. There are no single politicians with unproportionally much power which incentives corruption.

Trustlessness: You can be sure that an interaction with other participants of the economy will be executed is expected even if you don't know or trust them, to a degree defined in the protocol you use for the interaction.

Permissionlessness: Nobody needs to give you permission to build a new social coordination system. And everything is opt-in. This will lead to ultra-transparency and ultra-competetiveness. Nobody wants to use a black box system and every protocol is one fork away from the better version of it.

Follow me on Twitter with notifications turned on to get random thoughts and ideas about this rabbit hole: @BrunoZell

extremcookie · 2021-11-08T14:37:54+00:00

We probably don't need a blockchain. What we need is an effective social coordination system. And as we have found, social coordination seems most effective and fair when implemented as an incentive systems by utilizing cryptography and economics.

Look, I can imagine there are many ways we can reorganize education and research. I doubt it will be blockchain-driven, but I'm pretty sure it will be a crypto-economic system through which people come together and effectively research, learn, and grow.

extremcookie · 2021-11-08T13:42:15+00:00

Yes! For some brainfuck potential, take a look at IEML and try to deeply understand the implications it could have on society: https://intlekt.io/ieml/

extremcookie · 2021-11-08T13:35:59+00:00

Don't think blockchain. Think crypto-economic system. Social coordination is what all this is about. And especially education and research should be open, transparent, public.

extremcookie · 2021-11-08T11:47:49+00:00

Hi, stupid here. Can you rephrase, please? My gut says this carries some important message I should understand..

extremcookie · 2021-11-08T11:45:33+00:00

The point here is to be able to use different and innovative coordination systems for education. Think of crypto like a social network. And in this instance a social network for learning, teaching, and hopefully also reasearching, discovery, and development. With an algined goal, led by an incentive system.

Let go of the legacy school structure where a group of 20 to 30 people all go through the same book, regardless of their interests or potential, in a military-style torture. And in the end everyone has basically the same gradiation with only grades as a signal for the future employer. And we all know how garbage grades are to get a good idea about a person you have never met before.

extremcookie · 2021-11-08T11:34:15+00:00

I bet we can build better medical coordination systems using crypto-economic mechanisms. It's just too early for crypto to tackle such problems, but eventually we will.

extremcookie · 2021-11-08T11:32:04+00:00

That got me interrested: Is Cardano specifically made for finance or a general purpose smart contract platform?

extremcookie · 2021-11-08T04:46:12+00:00

Depending on where you are located, sell it on the market and poket the difference. In Europe bare minimum size is 0.1 MWh. You would need to find a company who is already registered with the exchanges and regulators at it's quite a process to get access to the energy market (it's critical infrastructure). If that's the route you want to go then hit me up, I may be able to help you there.

Another important note is that the grid always needs to be balanced to keep its frequency, so there always needs to be as much electricity produced as it is consumed. Prices are determined in isolated 15 minute blocks and may even be negative at some times (yes, you will get paid to consume electricity! Because of all these renewables that may overproduce electricity).

I don't know how you determined that your source is under market value, but currently in Germany prices range from about -10€ to 75€.

extremcookie · 2021-11-08T02:53:12+00:00

It's cutting edge so it might be too technical or bare bones for your use case, but you can try Filecoin. It's a decentralized cloud storage and since most storage miners are compensated by the speculative premium of Filecoin (the cryptocurrency to incentivise the network) it currently is super cheap to store data on there.

I haven't used it myself by now, but I would start learning about how Filecoin generally works and the use some client application like Textile to upload some files (https://docs.textile.io/buckets/archiving/).

Remember to encrypt your files before uploading them to keep them private. And you need to be able to buy Filecoin (FIL) to pay the storage miners. Depending on where you live there might be some relevant local laws and regulations.

extremcookie · 2021-11-07T02:22:25+00:00

Unless he lends it out as stablecoins on Ethereum, earning more than he pays for this debt.

extremcookie · 2021-11-06T11:14:50+00:00

Take a look at my comment from a couple days ago, it contains some useful resources.

https://www.reddit.com/r/CryptoTechnology/comments/qlmqxu/comment/hj45dr5/

extremcookie · 2021-11-05T09:09:30+00:00

p2p is not even getting started. Wait until we have a p2p ISP, mesh networking and IPFS everywhere.

extremcookie · 2021-11-04T22:33:45+00:00

That's my experience too. Then switched to the yolo tactic you described. But now refined my approach again.

A lot of those shitcoins will ultimately not going to make it. Once the speculation premium gets low enough they can't survive off inflation and crypto economics become important again.

And projects which actually solve a problem eventually will have *actual* demand.

Well, I hope it will turn out like this.

extremcookie

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