@conraddit @holymacaronee I'm still thinking about scenarios, I will try to formulate step-by-step descriptions for you during this weekend (also as per Charles' request in his latest video). I think many of the concerns community has brought up are potentially valid but need to be articulated thoroughly. @conraddit @holymacaronee So I've had a weekend to think about this stuff. This is still very fragmentary & maybe not that coherent but what can I do - spaces discussion on the matter is tomorrow so I need to write something down before that for others to think.

Tagging @Quantumplation, @stefos07409904

0. Here I’ll tag people to whom I wish to explain my reasoning why IMO PoS > PoW: @BtcLiberty, @pd_myers, @jronkain.

Feel free to tag anyone else you think might find this conversation interesting. 1. This is a subject I’ve been thinking about for years now – whether Bitcoin’s Proof of Work system is the optimal solution for the problem of how to secure an immutable ledger, or can Proof of Stake or some other system produce a better outcome.

1/n.

Feels like many young Americans have just found Marx & think communism solves all the world's problems.

European countries tried it 100 years ago or at least had civil unrest / a civil war due to clashing ideologies.

Now practically all of Europe has social democracy... 2/n.

...a synthesis of capitalist & socialistic elements. I think it's a decent system and could work well for USA as well.

Thesis -> antithesis -> synthesis is how we got to it. Millions upon millions died at the thesis / antithesis phase... it took decades to reach synthesis.

This documentary series should be watched by all, especially these days as we seem to be re-living the global turmoil that was the first half of the previous century.

Last time we were this divided & consumed by "isms", it resulted in two world wars. There's a lot of crystalized wisdom in old traditions (a lot of stupid stuff too, mind you!).

"Those who don't know history are doomed to repeat it" certainly rings true today.

It resembles the ancient Etruscan concept of a cycle called "saeculum":
en.m.wikipedia.org/wiki/Saeculum

1) In this thread I'll explain the global economic system in relatable GIFs.

Stock market crashes be like: 2) Quantitative easing be like:

Wheeeee! :"D Bounce in 3... 2... 1... 0.75... 0.5...

Any moment now, time to catch some knives...

Some freehand charting on the last 6 months of Ethereum price action w/ my phone.

People think alts are dead but what I see w/ ETH is healthy, steady growth. Bought a shit ton (more) ETH at 70€ and haven't regretted it.

BTC is already parabolic, ETH is just getting started... BTC going parabolic represented by the uptrend drawn here. That is where it needs to correct to for this to last & not crash like 2017.

BTC can either drop down or it can slow down & touch the trendline sideways, giving the alts some time to take their turn going all parabolic.

1) Computer architecture is moving towards a universal memory model, with RAM slowly but surely being replaced with technologies like Intel's 3D XPoint or IBM's memristors (if they'll ever be able to make them cheap enough, or make them work at all). 2) This will unlock new capabilities for developers and make most programs an order of magnitude more efficient, when all the moving of data back and forth between SSD/HDD and RAM will be eliminated.

Crypto folks (especially people insisting POW is always superior to POS) often think Fiat currencies are bad because their value comes from "nothing". That's false. They're bad because central banks control the issuance of money. The Fiat part of modern currencies is awesome. It means that the value of money is not tied to a real world resource but instead in our belief of value. Thus the real world resources are not wasted and can be used for something else.