RE: Get Ready for a World Currency
Somebody asked me some questions privately, so I will dump here anonymously:
Who has the currency initially, is it just a gold rush for the first miners. A sort of pyramid scheme where the top of the pyramid make a lot off the late buy-ins who get nothing, or lose a lot?
Yes that has been a criticism of the distribution paradigm of Bitcoin, but the fact is that everything about resources is power-law distributed in nature. That can not be avoided.
In my design I attempt to remove the power of the power-law control over the consensus algorithm.
I try to make the issue of distribution orthogonal to control.
But the problems with money still exist even if control is decentralised.
Yes but my idea/hope is that the use value of the token will become more important than monetary value, as we move into the knowledge age.
Might not be perfect, but will hopefully be a change.
I already said the money supply is always decreasing in my design. No monetary policy.
I want monetary to diminish and we humans become more concerned with reputation and what we create.
I expect the world will simultaneously move to a NWO fiat system also. The monetary world will kill itself over time.
What I mean about use value becoming more important than monetary value is my thesis about how knowledge creation can not be financed or bought. Creators work on what they want to work on. Fungible money was more useful for fungible menial labor.
Fungible money will become less omnipotent and threatening.
But who is the money supplied to, how does new money enter circulation?
Yeah that is one of the key problems. PoW was the only way to do it entirely decentralized by protocol. Almost any algorithm I can think of that does not have human oversight can be fooled by a bot or gamed by the whales.
A lot depends on what you do with intellectual property regulation.
What do you mean? This is a blockchain. Nobody should be able to regulate it (except maybe a world government which does not exist yet).
I mean people could self-regulate their use of the blockchain, but that is not protocol.
I mean intellectual property would affect the knowledge economy as without copyright you cannot own software. Actually without regulation you cannot own any property, as your possession depends only on your physical ability to stop other people taking your stuff.
We own our reputation. Nobody can steal that.
It is difficult to steal s/w because the creators are the only ones who can do it best in terms of adding new features. Software business models change such that we are selling a service, not the s/w.
http://www.catb.org/esr/writings/magic-cauldron/magic-cauldron.html
However the created knowledge can still be re-used, so its not all about knowledge creation, a good part will still be managing customers and relationships, marketing etc.
Agreed. And those are also knowledge production activities. Companies may keep some of their data and s/w for that private, as well as some of it is in the brains of the employees.
Brains and relationships. Reputation continues to play into it, i.e. employees loyalty because of the reputations and relationships with colleagues.
The top of the pyramid is the PTBs Powers TO Be the servants of Principality.
It is just a gold rush for the first insiders or minions of the PTBs.
They are the servants carry out PTBs order to Manipulate the market as I see paid crypto currency Pumpers everywhere. Next are the techies & luckies. Then investors & domesticated peoples as the working class ants.
NWO, New World Order's fiat system's ended with QE 4 started with the Paris financial Climate Agreement. Gold or Asset back block chain USN coexists with Fiat USD & SKR for a short time. USN is on market for months. https://hk.dbs.com/ecPortalWeb/Rates/ExchangeRate.aspx?Lang=en-us
But who is the money supplied to, how does new money enter circulation? It is as Bitcoin's founder Satoshi Nakamoto that No one knows what it is. Nakamoto is the Matrix programmer when Neo met at the end.
The World government exists, & they control politicians, performers, & actors in the world governments. They even control North Korea. I have copies of WWI, WWII, VN War, Korean War, etc plans. I think that you also have them because they are exposed. All the world events are scripted.
Peoples, hackers, criminals, thieves, & satanic pedophiles who love money don't care of their reputation. They will get new identities as politicians, entrepreneurs, or religious leaders, etc. They will steal always because they see domesticated expandable talking animals make wealth for them to take.
It is difficult to steal because the PTBs are the only ones who can do it best in terms of adding new features. PTBs are working on this. They will give Universal Income & debt forgiveness, etc that Peoples will love it, & give themselves the Mark, chip in their right hand or fore head. Peoples who doesn't have right hands will get it on forehead. The Mark works on right & forehead to interact with DNA & recharge etc.
Also they are creating immigrant, terrorism, nuclear, & security, etc issues to desensitize peoples to accept central control.
The Mark last time I saw got over 300 patents. They have a kill switch to turn off or kill the host. With this only PTBs can steal. Personal identity is safe because DNA is unique to each persons, & paid hackers or identity theft
are creating out of control social problems that only option is to receive the Mark for identity safety.
Your presentation is excellent, but it is a very hard topic to understand. That's why few people came to read. Peoples want what they want to hear as the Scriptures. That means they don't care as long as they are rich & famous in the Matrix.
Trust NO ONE. Only trust your heart in Christ. See for Yourself, Don't listen to others word that includes Bible. Look for the original meaning of the Bible that all translated Bibles are compromised by PTBs. John talked about the Mark 2,000 years ago, & now it is here.
As I wrote already in the comment post you are replying to, my design attempts to remove the control over the consensus algorithm that any economy-of-scale in token ownership would otherwise convey in a system such as proof-of-stake (Steem) or proof-of-work (Bitcoin).
So let them own as many tokens as they want to, (in my theory) it will not enable them to perpetually abuse/control the functioning of the decentralized blockchain. Without control, they can not perpetually create our tokens for free. They will have to buy them with their increasingly worthless fiat, which we will increasingly demand higher and higher exchange rates to accept.
We the people who are awake will not assign value to new reputations and we will of course assign negative value to deviant, old reputations.
Chaos theory insures that not all can be deterministic. If everything was deterministic then past and future are undifferentiated and space-time is innumerable (the past and future light cones of relativity would collapse into each other).
My blog is for those who are awake. To give us guidance on the future and what we can do about it.
That is okay. Those of us who are awake will fork off from their dying NWO fiat controlled world. We will continue on to prosper in a decentralized paradigm wherein we can not be crushed by them.
They perish, we live another 1000 years. This is clearly stated in the Bible.
Cheer up. 😊