OrlandoHakim
"it was changed before this piece and before NPR decided to leave. Twitter acknowledged that label was incorrect and changed it. Then NPR had a temper tantrum and left and this piece implied they left over that label. It’s misleading at best"
One of the best features of Linear is that it inspires my team to build better software, not just tick feature boxes.
My original argument stands. The author’s primary argument is that crypto is bad for authoritarians/statists as it allows the subverting of state power. He is not wrong on that point, but he is viewing the issue from a one-sided perspective and his arguments are tired.
For example one of the article’s first points is that crypto is bad because it makes it harder for countries to enforce sanctions while ignoring that sanctions are acts of economic war and without recognizing that they have been horribly abused by governments in the past. (See Madeleine Albright defending her sanctions against Iraq which directly led to the deaths of 1.5 million women and children)
The author goes on to regurgitate every standard criticism against cryptocurrencies but in the shallowest of ways and without bringing anything new to the table.
I’ve seen many far better critiques of crypto. This article falls far short.
Money as Debt: https://www.youtube.com/watch?v=2nBPN-MKefA
Principles for Dealing with the Changing World Order by Ray Dalio: https://www.youtube.com/watch?v=xguam0TKMw8
As would the citizens of Cyprus and Sri Lanka who will have or have had funds from their Bank accounts taken because the powers that be decided that the customers money was better off in the banksters hands.
I would argue that one of the core reasons why Bitcoin was invented was to separate money from state and create a new form of quasi-money quasi-digital gold that could prevent powerful central actors from arbitrarily manipulating it’s supply based on their whims and desires. Bitcoin was born out of the ashes of the great financial crisis.
The Bitcoin genesis block famously contains a quote from the Times of London which reads as follows: “Chancellor on the brink of second bailout for banks.”
You may not personally see that as a problem, but I do as do many others. Bitcoin does introduce it’s own problems but I would argue that it does an excellent job of fixing the problem of allowing for a money free from government control, with censorship resistant peer-to-peer payments (remember the Canadian truckers?), no counter-party risk, and predictable inflation policy for the next 100 years.
Yes it is slow and inefficient and it uses a lot of energy and it is also volatile, but it also allows for things that were never possible before it existed.
The benefits of decentralization do come at a cost of efficiency and throughput and they are often harder to quantify or justify unless one takes a harder look at the fully loaded cost of centralization.
As an example, consider the fact that MacDonald’s is by far the most prolific restaurant in the world or that GMO crops undoubtedly yield more productivity per acre than heirloom crops. In both cases centralization and standardization of the process has led to huge productivity gains, but at what expense? What have we lost in the process?
I would argue that monoculture and food homogenization engineered to maximize calories out per $ in have come at the cost of diversity.
Diversity of ideas, strategies, goals, ownership and agency all result in a society that, while productive, is less resilient.
Look at the various fungal plagues that have blighted banana production over the years. Monoculture brought huge yields but at the expense of resilience as a single fungus nearly wiped out the original Gros Michel variety and now a new fungus threatens the same for the Cavendish.
Similarly, Bitcoin is an inefficient network for transmitting fiat compared to Visa when measured against the criteria payment networks are usually measured on. Ethereum takes huge resources to run the equivalent of a Raspberry Pi as a global state machine.
Measuring decentralized systems vs centralized purely on efficiency and throughput kind of misses the forest for the trees. Decentralized systems have value that isn’t always obvious to a superficial analysis such as this one. That doesn’t mean they should be ignored. Often the largest paradigm shifts look like toys to start. (See Clayton Christianson and disruptive innovation.)
I’ll leave it here without comment: https://twitter.com/paulg/status/1505857667545321473?s=21
I believe wars of aggression are always wrong and are always war crimes per the Geneva Conventions, whether it is by the US (Afghanistan, Iraq, Libya etc.) or Russia (Ukraine) or the Soviet Union (Afghanistan also).
I don’t believe it is right to foment or tolerate hate against an entire people or culture simply because their totalitarian leader decided to invade.
For the record, I absolutely support the right of Ukrainians to defend themselves against a foreign invader and believe other countries should help, but I stop at supporting hate towards civilians of any nations.
If anything, we who live in western democracies have more to atone for than our neighbors living in totalitarian regimes.
I am still waiting for anyone to strip George Bush Jr. and Tony Blair among others of their awards and recognition since we all now know that WMDs and spreading democracy were lies used to justify the killing of 1 million Iraqi civilians.
It doesn't lend much credibility to the organization when they conveniently omit historical facts in order to match their desired narrative.
Google can't even compete on search with it's own search engine of 15 years ago in terms of the quality of the product. The entire front page is made of ads for many common searches these days, and for most searches everything above the fold is a first-party or 3rd party ad.
As a long-time Googler and now X-Googler, I've seen the operation from the inside. Google is now a fat and arrogant monopoly that is unwilling to take risks with employees more interested in getting the next promotion than building the next big thing. They still hire amazing talent thanks to their brand and compensation, but the focus of this talent is on getting promoted or playing politics not on building products that people love.
As an example, a few years ago they tried to take on Amazon and Instacart in a similar market - home shopping delivery. After several failed iterations, they abandoned the market, fired everyone on the project and moved on as if nothing happened. I expect a similar outcome in this case.
Maybe we should re-define the term first person in space to mean, the first person in space who isn't from a country we don't like? I believe we still recognized Yuri Gagarin as the first person in space during the cold war. What changed now?
I realize that these decisions have consequences and it might be preferable to mine bitcoin with flared gas that we can then sell to Germany so they are not reliant on Russian gas.
I am not well-enough informed on the subject to claim to understand all the consequences of such a move.
How are you so confident that your suggestion is best for all stakeholders?
I find it disingenuous to claim that one of the largest and most powerful companies in the world has no agency in this situation.
Remember how hard Google fought the Australian laws about search engines paying news organizations.
Not to say the Australian government is guilt-free here. There are no good guys here.
In the future maybe we can just switch to nuclear fusion and everything will be better. In the real-world of the present, this is a good and practical solution for reducing greenhouse gas and finding a higher value purpose for otherwise waste energy.
What’s not to like at least until you or someone else invents something better?
A quick look at the numbers makes this obvious. Consider that 80% of all dollars that exist were created in the past three years.
Now ask why Janet Yellen, Jerome Powell, and the Biden administration conveniently forget to mention even the possibility that money printing may have been a contributing factor driving inflation.
[0] https://www.bls.gov/cpi/factsheets/owners-equivalent-rent-an...
He explores all sides of issues, but with a focused lens on the negative impact on regular folks, without partisan hackery, left vs right divisiveness, or intellectual dishonesty.
Why can't we find and promote more journalism of this flavor? It would dramatically increase the level of discourse in this country.
I could see an argument if these were functioning democracies but they are not. Imagine if everyday Americans had to face punitive sanctions or like in this case outright theft because their democratically elected governments chose to invade a country (like Iraq) on false pretenses and proceed to kill hundreds of thousands of innocent civilians (again, speaking of Iraq)
What Russia is doing in Ukraine is unconscionable, but in a totalitarian government, individual citizens have infinitely less agency than they do in the west. Even in the US, remember how little agency everyday Americans had to fight the governments decision to invade Iraq and Afghanistan after 9/11.
This ethical hacker did nothing wrong. The funds should have been frozen, not stolen without due process. It’s almost like HackerOne is begging for retribution. Let’s hope they don’t reap what they sow.
Cyberwar sounds pretty scary right now.