@robinhanson The kama sutra (~2400yo) says prostitution should be honored for its function in a healthy society. Without, an increase in rape & lower character. I.e., in most states it's legal for police to have sex with detainees, leading to frequently reported (& ignored) rape and release.
@cz_binance Yeah *in btc terms*
Once gov't debt defaults worldwide, real wealth figures will skyrocket, even relative to current purchasing power. You'll need something like >$20 billion at today's purchasing power to be in top 0.3%.
Maximalists disparaging all other cryptos sound an awful lot like nocoiners disparaging Bitcoin. Scam. Ponzy. Bagholders. It’ll never work. Whats the use? We already have X, why do we need Y? Blah blah blah. Embrace the diversity, this is what an open market in finance looks like
Bitcoin isn't outperforming altcoins because of 'sound money' or 'network effects'. It's outperforming because it has a core development group who are out-executing the competition. Please thank them.
@bramcohen Tether could quadruple in nominal units because of the inevitable hyper inflation of the dollar that's on the horizon but crypto prices will go up in greater proportion.
@robinhanson Insurance dosn't work. It's not qualitatively different than a Ponzi scheme or fractional reserve banking.
Requiring it is worse. Prices skyrocket and value is destroyed. Do you know how much waste is caused by auto insurance? I.e., most totaled cars aren't except "legally" are.
@jimmysong ECDSA (anything dependent upon the discrete log assumption, really) is vulnerable and we really don't know if SHA256 is breakable (even without a quantum computer). There is no formal proof that SHA256 is even secure and it was produced by the NSA (who tend to bug everything).
Facebook has horrendous engineers and is perhaps the least trustworthy company in the world. Their own "privacy" app WhatsApp is continuously bugged (probably deliberately).
@slashdot CloudFlare can read all traffic routed through it in plaintext even if that traffic appears to be using SSL/TLS in your browser. The service is perhaps the most vulnerable to hacking on the internet today. Petabytes of data and tens of billions on crypto sites at risk.
(3) With the existing attitude, by the time regulators will stop grilling #facebook#libra in 3-4 years the resulting system will be more difficult and expensive to use than the current banking system.