RE: Response to Dan Larimer's "The Limits of Crypto-economic Governance"
"Governance cannot rely in the unpredictability of human emotions nor the whim or assumption that 2/3 of random people under any ecosystem can be entrusted to be "good"."
What does to be "good" even mean? Something other than keeping your word and honoring your commitments? Isn't that enough since the blockchain will enforce compliance and agreements will be transparent?
In my opinion, putting an end to the fraud of fractional reserve banking is enough of an improvement over the current monetary system to justify switching to dpos. And dpos is vastly superior to pow because of the energy savings. The fact that the distribution of wealth may not be siginificantly improved is perhaps just a demonstration that the 80/20 rule manifests here just as in almost every other sphere that we encounter.
Putting full faith in AI to govern us has potentially terrifying consequences that you don't seem to have taken into consideration in your article (although you glancingly allude to some Hollywood scaremongering).
"Good" is abstract. Honoring commitments in the blockchain is rather redundant since the voters will decide whether you are doing it or not. And you can still be "bad" but be voted as "good" because it is all about who holds the power.
Energy savings is not a problem. All systems demand energy. Even EOS needs energy from satellites, computers, the heaters the the programmers will need in Scandinavia to code. The energy thing is just a meme. Not a real problem.
The fractional reserve banking issues money just like EOS does. The only difference is the ecosystem. Nothing else. One can choose which umbrella to live under based on where they have better economic power. Obviously someone who holds a lot of FIAT will choose the dollar where someone who invested in Bitcoin early or EOS will choose the latter.
I trust AI more because it can be programmed to judge without emotion. And I don't think any AI can do more horrors than a human.
My dpos experience is with bitshares and steem. But I would be surprised to learn that EOS issues money at interest! Is it so? Regardless, that is at the central banking level. I am referring to the practice of lending out multiples of the currency actually held in a bank, at interest, yet telling depositors that they can withdraw their deposit at any time (unless locked in a term deposit). That is fraud.
Yes, all systems demand energy. So what? The POW system is incredibly energy intensive compared to dpos which requires minimum energy in comparison to secure the blockchain and transact. The energy thus saved from the operation of the blockchain can then be put to other productive uses.
Finally, do you contend that emotion has no useful information to contribute to otherwise purely logical decisions? In other words, judging without information coming from emotion being taken into account is always a good thing? Really?
The interest part is the same as the staking model. different narrative.
Depends on the bank how much you can withdraw. Even current DPOS systems hae a locking mechanism. Look at Steemit for example. you still need to wait to power down.
Energy is up to the consumer. At the end of the day is all about averaging down costs.
I contend that emotion has nothing to do with the intricacies of governance. it is a hurdle. Governance through the blockchain is a mathematical problem. Emotion in governance makes everything buggy because humans are unpredictable. logic isn't.
The problem is that humans are unpredictable? How do you resolve the maxim of law that decrees that Anger is temporary insanity? How can Emotion be removed from governance (the public good), it cannot get more absurd than decreeing fire to be useless because it burns and equally absurd as emotion is useless in the affairs of men because it's not logic! Because people hate we should abolish love.
Rejoice.
If AI can be programmed to judge without emotion who would listen to such judgement.
Here's some maxims of law (judging) that will throw it for a loop: