ie: bitcoins & organic farming (short documentary)
|Aron Solomon (@aronsolomon)
12/29/13 7:36 AM
Love this @beltzner piece (via @markzohar) “Why I Want Bitcoin to Die in a Fire”antipope.org/charlie/blog-s…
crypto currency manifest
Olivier Auber on the P2P Money and Crypto Currencies Manifesto http://t.co/iEdKZJHdtO
Original Tweet: https://twitter.com/mbauwens/status/551080504334618625
from video:language as driving element of our structural culture..weapons evolved with language..money and capital most sophisticated and ultimate weapon
A possible conversation between a blockchain enthusiast and newbie:
“Bitcoin is electronic money! It is made from blockchains, which are electronic ledgers that can also support many kinds of electronic contracts and trades.”
“But we already have money, and ledgers. In fact, bank ledgers were one of the first computer applications.”
“Yes, but blockchain ledgers are decentralized. Sure, compared to ordinary computer ledgers, blockchain ledgers take millions or more times the computing power. But blockchains have no central org to trust. Instead, you trust the whole system.”
Misplaced enthusiasm about bitcoin in Kenya is another chapter in the “tech will let Africa leapfrog” story: https://t.co/tp0n8TPiIk
Original Tweet: https://twitter.com/EthanZ/status/684029918330617856they attempted to build partnerships with merchants like Bejo’s at first. They then realized they didn’t have enough users to focus on merchants, and that many of the 12 local businesses they worked with didn’t understand the blockchain. They put a hold on their merchant efforts, pivoting their focus to creating a microtransaction app for bitcoin.[..]The problem was that the remittance market did not catch on as predicted.[..]
Bitcoin was also sold as a way of reaching the poor and unbanked, and investors who came to Africa would sometimes blend their sales pitch with an ounce of evangelicalism. Rossiello said she has to remind people she is not vaccinating orphans, that she is running a business, albeit in an emerging market. “We cannot tell you we believe we’re going to raise people out of poverty,” Rossiello said.
Rossiello has to stress this because these investors often don’t understand Kenya, or perhaps don’t even want to understand Kenya, but instead just see Kenya as a place without Western technology and that is thus in need of it.
Kipochi founder Pelle Braendgaard said M-Pesa, celebrated as a way of introducing digital money to the masses, actually used its immense power as a gatekeeper to keep startups out of the market. M-Pesa’s decision to stop bitcoin-related transactions on its platform is something Bitpesa and Lipisha Africa are currently challenging in court.
“It comes down to the general picture that has been drawn of Africa in the West. You might believe that you are helping, even though you are an entrepreneur just like any other.”
These narratives, however, are dangerous when they smudge the messy realities of African countries. The Nigerian-American writer Teju Cole, in an article critiquing America’s reaction to the Kony 2012 video, explains how Africa has always been seen as a playground for Western adventurers:
Africa has provided a space onto which white egos can conveniently be projected. It is a liberated space in which the usual rules do not apply: a nobody from America or Europe can go to Africa and become a godlike savior or, at the very least, have his or her emotional needs satisfied. Many have done it under the banner of “making a difference.”
“I love bitcoin to the bone,” Juma said. “I do not think bitcoin is going to change everything. I don’t think it is enough. I think there is more to improve. I think it’s great that we do have bitcoin, but I think Africa needs to develop its own solutions.”
a nother way… radical econ … and deeper.. deep enough
Really remarkable (and not good) Bitcoin news: Mike Hearn quits Bitcoin medium.com/@octskyward/th…
From the start, I’ve always said the same thing: Bitcoin is an experiment and like all experiments, it can fail..
But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards. I will no longer be taking part in Bitcoin development and have sold all my coins.
@mbusiginThe fact that the single largest user of power in Iceland is bitcoin mining is a bug in capitalism.businessinsider.com/photos-iceland…
Emin Gün Sirer (@el33th4xor) tweeted at 2:10 AM – 23 Jun 2017 :
Chainalysis Says They’ve Found the Missing $1.7 Billion Dollar Mt Gox Bitcoins…. /Cc @jony_levin https://t.co/UYtM1vT6qJ (http://twitter.com/el33th4xor/status/878163408754843648?s=17)
quotes from Arthur
you are also correct that I assert that it is not just Proof-of-Work wasted computation on crypto-cracking that is the problem. Don’t get me wrong, it multiples the problem a thousand-fold, but the fundamental problem remains. Bitcoin burns more electricity than the whole country of Ireland to achieve about 5 transactions per second. That is a pitiful and unforgivable waste.
But the problem does not end with changing Proof-of-Work to Proof-of-[fill-in-the-blank].
First of all, main contenders [Work] and [Stake] both amplify Pareto Effects ensuring the rich get richer, and the powerful get more powerful. That doesn’t really solve any of the problems of our monetary system. In fact, it is hard for me to imagine a decentralized digital currency design that could more accurately recreate all the problems of national currencies than Bitcoin. But that is a conversation for another time.
Proof-of-[Value] and [Cooperation] are well-meaning approaches trying to solve some of these problem, but they fail to get the core issue: Consensus. These are all methods which everyone pretends are about creating consensus. Because of course, we must all agree about the data for it to be valid, right?