Topic: The dark secret of money the sheeple aren't supposed to know - page 2. (Read 1756 times)

The circulating currency unit-of-exchange form of "money" (as differentiated from the Gresham's law hoarded higher quality store-of-value form of "money", e.g. pre-1965 U.S. silver dimes) is always subject to a power-vacuum on who is in control of the legality of legal tender.

Satoshi's PoW (and best-of-breed alternatives thus far such as DPoS) is also a winner-take-all power vacuum.

The world is not going to entrust the control of money to some cartel of mining farms in China, nor the whales who control 80% of the stake (money supply) of Steem(it).

This (along with user issues such as security, ease-of-use, and applicability to mainstream commerce) is why crypto-currency is stagnating. We haven't improved on the problem of money yet. The world will instead rather turn to a political power-sharing monetary reset wherein the IMF SDRs will be valued by weighted basket of national currencies, precious metals, and perhaps some key commodities.

If we are going to offer an alternative to the coming SDRs system (where national currencies will be backed by SDR reserves and all the nation-states will be destroyed by borrowing in SDRs with wages paid in depreciated national currencies, which is what destroyed the PIIGS especially Greece), then we need a crypto-currency that has an equilibrium which isn't a winner-take-all power vacuum disequilibria.

I have a whitepaper coming which proposes a radical new design for crypto-currency which is posited to be a solution. I also propose solutions for the other items holding back crypto-currencies (and blockchains) such as a solution to end exchanges fraud, a solution to eliminate theft of private keys, and a solution to making crypto mainstream (virtual) commerce.

Did you know: it won't be like that forever. Possibly not for much longer, I'd be tempted to estimate a ~15 year shelf life for that paradigm.

I meant to add a disclaimer to the quote below:


Some people will say that you aren't passively accumulating wealth by being an ASIC slumlord because you have to spend time and effort on ASIC R&D, but the amount of foundries in the world is so small that it's the equivalent of saying you're required to be a transnational corporation to participate at all in the endgame when the cartels form.

You right that before making another altcoin without any purpose behind what you what to solve and you only desire his speculate on the price and make some money. The project will often fail and will die slowly and the altcoin will have no real value.

I agree with that summary. My whitepaper explains in more detail, what you have summarized.


Unfortunately that can't be the case because of Gresham's law and the fact that sheeple prefer the money with the stamp which is backed by military force, because sheeple want hassle-free money that is enforced by the State. Study 1000s of years of history.³⁸


As you know, I have already explained in my thread that unprofitable PoW (which was originally my idea) probably can't work. And you know I posit that my (not yet entirely published) whitepaper has the design which you wish for.

Here is a relevant quote from my whitepaper:


³⁸ Shelby Moore III. Value of currency has historically been public confidence in it as a reliable unit-of-exchange. Bitcointalk.org, “Precious metals are not useful in a collapse scenario!” thread, post #62, Nov 2, 2016.

No, the point is to have off-ramps for gambling earnings as that's the bubble the police state is always chasing--but as long as the politicians are as corrupt as the people they are supposed to be chasing, we're in the right hands. When the Joker burns the money, he is taking away the profit motive and turning it onto a control system, that's why if Morgan Freeman doesn't kill the cell phone rhizome of control, the joker wins. Even Batman can't be trusted with that type of power. The only good result is that two-face plays the odds and gambling returns to create a more natural state.

Let me start off by telling a story.  At the height of peak-altcoin, a guy I know released some garbage coin with the sole purpose of trying to make money in a pump and dump.  I told him, hey, why are you making this stupid scamcoin?  His response was, "just what exactly are we trying to do here?"  (i.e. being involved in cryptocurrency in the first place).

Before you try to create or engineer something, you first have to actually identify the problem you're trying to solve.  The problem to solve is not decentralization, it's creating an alternative to rent seeking usury, aka slavery.

The current state of cryptocurrency consists of closed entropy systems like Peercoin, which are internalized proof of stake, and open entropy Bitcoin PoW systems, which are just externalized proof of stake in practice, not decentralized.  Both are stake based and stake based systems have the following attributes, they're designed around someone monopolizing a variable then practicing rent seeking usury on everyone else.

The internalized stake is basically world domination on cruise control and should be shunned by anyone who doesn't want to be a slave, while the open entropy system of Bitcoin tends to give you the same result when you're just externalizing your metaphorical stake into the Pareto principle of the real world.  This means cryptocurrency solves really nothing in it's current state, and things like physical silver coins as a currency would be vastly superior in terms of both decentralization and avoidance of usury or seigniorage fee.

Having said that, if you were to try and improve on cryptocurrency in some way, you would be required to remove the stake variable entirely.  A system where you can't gain capital by leveraging assets on cruise control with no human intervention or attendance required.  The only way to do that off the top of my head is either unprofitable PoW (which seems like it wouldn't work in practice) or by having all senders of transactions solve some type of decentralized captcha or other proof of work that cannot be put on cruise control for profit.