Category: AI, Computation, and Technology

BLOCKCHAIN, CRAIG WRIGHT, APPLIED, THE FUTURE

—-“Craig S Wright ( #CraigIsSatoshi ) strikes me as in the same vein of genius as you but everyone says he’s just a fraud. Can you confirm he does indeed wear the mark?”—$HOBOSPICES @h0b0spic3s

I can’t say because I don’t have the relevant knowledge of him. I can and do compare myself to certain public intellectuals who work on problems of similar scale – and each of us varies in approach according to background, personality and cognitive bias.

I’ll tell you something unpopular: I don’t really think much of the blockchain technology for the simple reason that proof of work is an uneconomic means of solving what is better solved by simply paying for the upfront cost of transactional technology that does the same thing.

The ledger makes possible fractional shares, which is the logical step in the evolution of fiat currency, corporate shares, shares in debt, etc. And cuts out the middle man. The idea that it is going to insulate us from the government is a dream for children. Never happen.

For this reason (ignoring physical laws) I would not put him in the same category as other thinkers. I would however put us both in the same category of technologists. Although I would rate him far higher than myself. I only use tech to solve what’s really social science.

—“Thank you Curt, I’ve always thought that CSW’s idea of blockchain to be different, in that his design ethos is to be compatible and even complementary to law thereby not trying to avoid government. I had hoped it could be helpful to P in this way (I pray for once you have Err’d)”—

Don’t misinterpret me. I’ve said the same thing continuously since at least ’14: the technology converted from proof of work, to monolithic transactions will allow the development of a perfect portfolio of currencies, and use of interest in ALL ASSETS as a medium of exchange.

Moreover, I and others have proposed all accounting systems be modified to this technique so that money substitutes can be tracked throughout the full lifecycle, providing the accounting information we lack to understand the state of economies.

So (a) end proof of work, making ordinary monolithic transaction systems like banking today, (b) limit the minimum fractional value of a share before ‘writing down’.(c) allow rolling up of fractions into new shares.

I mean it’s fantastic.

It will also all but destroy the stock market with a frictionless, fee-less system. Which I like even more. 😉