The Bitcoin Prophecies

Platonicgap's ponderings of things to come.

Truth Braindump

Commonly used but erroneous means to arrive at truth:

By association.

By social concensus.

Tradition (concensus of the past)

How these erroneous means are leveraged and influenced in society:

Others appear to believe it – “how invested parties can cause apparent conviction among some to spread to many”

Respected/influential individuals appear to believe it.

Government appears to believe it.

Team mindset. – “We need to be on the same page to get the job done”

Probablistic nature of truth:

Truth is a matter of probability, of whether an outcome is likely to be realized in x iterations.

The higher the probability, the closer to absolute truth (which is unachievable)

Truth, as it is impossible to prove 100%, and conversely it is impossible to disprove 100% meaning anything is always possible.

Can truth be derived empirically? A toolbox.

Many angles from disparate sources – “In order to build up probability”

Utility – “Rubber meets the road. Theory meets reality.”

Logical consistency – “Boolean Logic in Computer Science is measured in terms of True/False. Logic and truth are intimately intertwined”

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Some thoughts on the nature of money.

If money is the very embodiment of liquidity, how about we break down money into categories. Exhibit A: Fiat. Exhibit B: Bitcoin. Which is more liquid geographically speaking? Does this make Bitcoin more money-like than money? I would say yes. Thoughts?

Ethereum BTC Miami Jan 26, 2014

Turing complete distributed network programming language. The world changing implications of this project if met with success at scale will not be insignificant.

From where I’m sitting Vitalik, Charles, Anthony, Mihai and team are a couple steps ahead of the rest of the community in terms of rational thought and vision.

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Myself with core developers Charles Hoskinson and Vitalik Buterin

They are writing a new programming language to make Decentralized Autonomous Organizations possible by way of interlocking smart contracts.

A possible eventual outcome of this and later projects, if successful, is something approaching the singularity; computer programs in the decentralized borderless “cloud” will now be able to incentivise people to do work. Feed them real world data from computational knowledge sources like wolfram alpha or google and the efficiencies and possibilities are mindboggling; the programs will be able to verify progress of real world tasks and payout in cryptocurrency accordingly.

I see a synergy between ethereum and bitcoin.  Bitcoin has the advanced network effects and is a stable dedicated currency app. Ethereum promises to be the operating platform on which it moves to conduct business. As explained to me by Charles, Ether is the “oil” on which the Ethereum machinery runs.  It will have a place as well in the new economy.

This could reshape the world as we know it over the next 30 years.

Today’s Prophesy: January 2, 2014

The permissionless nature of the Bitcoin protocol will put hackers and content creators squarely in a position to benefit from their work. Red tape and social skills be damned.

Today’s Prophecy: January 1, 2014

Three recent positive black swans that have the potential to alter the course of history and bring the US back to global leadership.

1. Robotics: bringing manufacturing/exports back to the states. Google may be showing the way here, scooping up half a dozen robotics companies.

2. Cryptocurrency: cautiously migrating off of the Titanic that is today’s international financial system patchwork to digital currencies in a timely manner would be a wise move at this juncture in history.

3. Electric mobility: San Jose could become 21st century Detroit if Tesla Motors carries out its mission of achieving scales of economy in battery production. Added bonus: potential to help wean the world off its fossil fuel addiction and consequent military conflicts.

Today’s Prophesy: December 31, 2014

A corollary to my last post is let’s put the world’s academics/philosophers/economists to work doing something more useful for society: I invite them to step down from their ivory towers to the ground floor and to get to work discovering/codifying/teaching finer heuristic building blocks for a better tomorrow.

Today’s Prophesy: December 30, 2013

It’s time to move beyond the truncated abstractions of “socialism” and “capitalism.” Let’s study actual human interaction, abstract up from there and build things with that knowledge. If properly communicated and employed, I suspect that political dissonance will reduce in proportion to work done in this field. Solving the world’s problems breeds peace.