The Emunie monetary system is both interesting and scary, all at the same time. Mostly due to the fact that Keynesians are currently trying to ban cash so that people can't exempt themselves from negative interest rates and other man behind the curtain manipulation. Emunie is basically an automated central banker, so it's a big difference from what most Austrian people are used to.
If you believe deflationary, Austrian economics has shortcomings, an automated central banker is obviously going to be better than a human one issuing changes with nefarious motives. The only problem here is, governments can attempt to co-opt cryptocurrency at any given time, and a vote for Emunie economics is essentially a vote for central banking and Keynesianism in this regard.
Let's say Emunie did become huge and the number one cryptocurrency. Even though it's a global ledger, the US government can just fork it, add their own variables, set it to automatically deduct X% taxes per citizen, declare it legal tender, and claim that anyone using a currency besides this system is a money launderer attempting to avoid taxation. Anything with a central banker, whether a real person or automated, is a huge Pandora's box. Assuming you have a benign, honest government, then you've created a system to increase efficiency and reduce abuse. Assuming you don't, then you've created a system to increase the efficiency of abuse.
As I said in another post, reputation based systems are also the best candidate available for governments to link biometric data to a single wallet user address instead of having many pseudo anon addresses like Bitcoin. At it's root, technology is just an increase in efficiency. If you believe people like Ted Kaczynski are even remotely, somewhat correct, this leveraging of efficiency will always be used to decrease liberty and increase enslavement.
The standard Bitcoin and Cryptonote protocol is really a primitive piece of technology that the government might have a hard time co-opting for enslavement. The pseudo-anonymous, or in the case of ring signatures, possibly zero knowledge proof, anonymous nature of addresses, with lack of a reputation variable to tie biometric data to, might make it a useless tool for governments in the long run. Going any further past this might be creating the tools for your own enslavement.
"THE ‘BAD’ PARTS OF TECHNOLOGY CANNOT BE SEPARATED FROM THE ‘GOOD’ PARTS"
Quote from: http://www.washingtonpost.com/wp-srv/national/longterm/unabomber/manifesto.text.htm
If you believe deflationary, Austrian economics has shortcomings, an automated central banker is obviously going to be better than a human one issuing changes with nefarious motives. The only problem here is, governments can attempt to co-opt cryptocurrency at any given time, and a vote for Emunie economics is essentially a vote for central banking and Keynesianism in this regard.
Let's say Emunie did become huge and the number one cryptocurrency. Even though it's a global ledger, the US government can just fork it, add their own variables, set it to automatically deduct X% taxes per citizen, declare it legal tender, and claim that anyone using a currency besides this system is a money launderer attempting to avoid taxation. Anything with a central banker, whether a real person or automated, is a huge Pandora's box. Assuming you have a benign, honest government, then you've created a system to increase efficiency and reduce abuse. Assuming you don't, then you've created a system to increase the efficiency of abuse.
As I said in another post, reputation based systems are also the best candidate available for governments to link biometric data to a single wallet user address instead of having many pseudo anon addresses like Bitcoin. At it's root, technology is just an increase in efficiency. If you believe people like Ted Kaczynski are even remotely, somewhat correct, this leveraging of efficiency will always be used to decrease liberty and increase enslavement.
The standard Bitcoin and Cryptonote protocol is really a primitive piece of technology that the government might have a hard time co-opting for enslavement. The pseudo-anonymous, or in the case of ring signatures, possibly zero knowledge proof, anonymous nature of addresses, with lack of a reputation variable to tie biometric data to, might make it a useless tool for governments in the long run. Going any further past this might be creating the tools for your own enslavement.
"THE ‘BAD’ PARTS OF TECHNOLOGY CANNOT BE SEPARATED FROM THE ‘GOOD’ PARTS"
Quote from: http://www.washingtonpost.com/wp-srv/national/longterm/unabomber/manifesto.text.htm
chance of emunie become huge and the number one cryptocurrency is 0.0000000001%
chance of emnue being a scam altcoin is 100%