@VitalikButerin @VladZamfir @ViliLe @angela_walch @oliverbeige @ProfPieters @Prof_CarlaReyes @stephendpalley @finck_m @C1aranMurray @elmalandr0 The higher the # of interlinked “immutable” blockchains, the higher the likelihood of: (1) systemic collapse (one freak chain collapse causes cascade effect, esp. with financial/debt chains); (2) external regulatory “mutation” to correct on-chain excesses. medium.com/cryptolawrevie…
@VitalikButerin @VladZamfir @ViliLe @angela_walch @oliverbeige @ProfPieters @Prof_CarlaReyes @stephendpalley @finck_m @C1aranMurray @elmalandr0 (3) continued financialization & emergence of crypto ins/reinsurance markets means much higher range of actors with direct financial stake in breaking various immutable chains by any means possible (on & off-chain). Immutable chains make rapid crisis response far more difficult.
@VitalikButerin @VladZamfir @ViliLe @angela_walch @oliverbeige @ProfPieters @Prof_CarlaReyes @stephendpalley @finck_m @C1aranMurray @elmalandr0 (4) folks who seem to reap most near-term benefits from hard immutability are algotraders (immutability —> more accurate models —> higher profits) & ideologues (it “feels” good to feel in control); (5) folks who stand to lose most: the #CryptoMajority (aka #CryptoDebtors); ...
@VitalikButerin @VladZamfir @ViliLe @angela_walch @oliverbeige @ProfPieters @Prof_CarlaReyes @stephendpalley @finck_m @C1aranMurray @elmalandr0 (6) no such thing as full immutability, so “immutability” is (consciously or not) just a fig 🍁 leaf for “limited liability” & denial of “moral culpability” (“Look, debtors, we’d love to help you, but we can’t, our hands are tied [even as everyone knows they aren’t]—“); ...
@VitalikButerin @VladZamfir @ViliLe @angela_walch @oliverbeige @ProfPieters @Prof_CarlaReyes @stephendpalley @finck_m @C1aranMurray @elmalandr0 (7) so, perhaps instead of moving in the “pro-immutability direction” (which advantages incumbents with vast near term gains), the Ethereum community should move towards the pro-#hyperutility direction (which benefits incumbents, newbies & society w/far greater long-term gains)-?
