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The part that is easy to vary is that an arbitrary amount of different cryptos can be made with the same features.
The features themselves can be as specific as you like but the overall argument is still extremely easy to vary, because it is an argument for a specific cryptocurrency.
It is the same as arguing for a specific god because the god you like has specific features. The god itself is still easy to vary.
The counter-criticism moves the deadline forward again the same fixed amount.
The timeframe to address the criticism should start counting down from the moment the criticism is made, rather than the original post. So it would be a continuous thing rather than a single deadline for everyone.
The OP could end the bounty if there are no outstanding criticisms and he no longer seeks a solution.
Yes, that was what I was thinking. Presumably the OP could set their own deadline timeframe too.
I think it is more that it is a permanent record of things I have written that may one day be used as an attack vector. It means I need to really mean what I write, so that I can stand behind it (even as potentially an honest mistake) if someone tries to use it against me.
Why should reacts persist through revisions?
How do you ensure the criticism is worthy of the bounty?
I notice that when I amend a criticism I have made, I’m not able to see what I am criticising. It would be good if the edit screen showed the comment I am disagreeing with similar to how it does when I first go to write a criticism.
I notice that when I amend a criticism I have made, I’m not able to see what I am criticising. It would be good if the edit screen showed the comment I am disagreeing with similar to how it does when I first go to write a criticism.
Why not some other cryptocurrency that also has those features?
For example, why not an existing or future fork of Zcash?
“[Insert favoured cryptocurrency] will become the next money” is an extremely easy to vary statement.
Why not some other cryptocurrency that also has those features?
For example, why not an existing or future fork of Zcash?
Utility is not a necessary aspect of money.
Money without other use cases only holds value to the degree it can continuously win a Keynesian Beauty Contest in the market.
In other words, it has no underlying value.
The price of a commodity and the quantity of it in use don’t strictly correlate in the way you suggest here. 50% of gold being tied up in industry, jewellery, etc. does not mean the price floor is at 50% of the current price.
By the standard you have set here, you have implicitly disqualified Bitcoin and Zcash. If gold is not good enough because it could fall to its price floor (your claim being 50%), then Bitcoin and Zcash are even worse because they have no floor at all. It might be more precise to say the floor is zero.
The reason to back a currency with gold or some other commodity is that the commodity has other utility aside from being used as money. This sets a floor on the price, making it a store of value.
Bitcoin and Zcash have no utility beyond their transferability. The only way either would ever be money is if a government made it their legal tender, forcing transactions to be done with it exclusively.
To use US Dollar as an example again, the only reason it is money is that it has the alternative utility function of being the only thing the government will accept for tax payments. In that sense it is the only currency that keeps you out jail if you use it in its designated geographical area (!). If that weren’t the case then people would quickly swap to using something else—something that isn’t being manipulated by the government.
(To prevent any confusion, please understand that I believe governments should be completely agnostic to how people carry out their transactions, including allowing them to use any currency and even old-school barter if they wish.)
TL;DR The only way for the US Dollar, or Bitcoin, or Zcash (or any other unbacked currencies) to be useful as money is if a government makes them legal tender, and prohibits anything else being used in transactions.
You misunderstood my criticism. I said the US Federal Reserve Notes used to be backed by gold, not that the gold itself was backed by something.
“Bitcoin is not backed by anything” can also be stated as “Bitcoin is not redeemable in anything”.
“POW” or “computational work” or “encryption” are not things you can redeem if you own bitcoin.
This is in contrast to gold-backed currencies, for example, which are currencies which can be redeemed in gold. The United States Federal Reserve Note only became fiat when it was no longer redeemable in gold.
“Bitcoin is not backed by anything” can also be stated as “Bitcoin is not redeemable in anything”.
“POW” or “computational work” or “encryption” and not things you can redeem if you own bitcoin.
This is in contrast to gold-backed currencies, for example, which are currencies which can be redeemed in gold. The United States Federal Reserve Note only became fiat when it was no longer redeemable in gold.
Bitcoin (and by extension Zcash) does not solve fiat. A key problem of fiat is that it isn’t backed by anything. Bitcoin isn’t backed my anything, and as far as I know, neither is Zcash.
Bitcoin (and by extension Zcash) does not solve fiat. The problem of fiat is that it isn’t backed by anything. Bitcoin isn’t backed my anything, and as far as I know, neither is Zcash.
Pure genetic knowledge could colonise the galaxy, it'd take much longer than with memes.
Deutsch disagrees. Quote:
The difference between biological evolution and human creative thought is that biological evolution is inherently limited in its range. That’s because biological evolution has no foresight. It can’t see a problem and conjecture a solution.
and quote:
The bombardier beetles squirt boiling water at their enemies. You can easily see that just squirting cold water at your enemies is not totally unhelpful. Then making it a bit hotter and a bit hotter. Squirting boiling water no doubt required many adaptations to make sure the beetle didn’t boil itself while it was making this boiling water. That happened because there was a sequence of steps in between, all of which were useful. But with campfires, it’s very hard to see how that could happen.
Humans have explanatory creativity. Once you have that, you can get to the moon. You can cause asteroids which are heading towards the earth to turn around and go away. Perhaps no other planet in the universe has that power, and it has it only because of the presence of explanatory creativity on it.
Pure genetic knowledge could colonise the galaxy, it'd take much longer than with memes.
Deutsch disagrees. Quote:
The difference between biological evolution and human creative thought is that biological evolution is inherently limited in its range. That’s because biological evolution has no foresight. It can’t see a problem and conjecture a solution.
and quote:
The bombardier beetles squirt boiling water at their enemies. You can easily see that just squirting cold water at your enemies is not totally unhelpful. Then making it a bit hotter and a bit hotter. Squirting boiling water no doubt required many adaptations to make sure the beetle didn’t boil itself while it was making this boiling water. That happened because there was a sequence of steps in between, all of which were useful. But with campfires, it’s very hard to see how that could happen.
Humans have explanatory creativity. Once you have that, you can get to the moon. You can cause asteroids which are heading towards the earth to turn around and go away. Perhaps no other planet in the universe has that power, and it has it only because of the presence of explanatory creativity on it.