116 karma · joined January 2, 2016
> 1) Surely we can come up with a less wasteful solution to this
You are welcome to try. If you do come up with a less waisful solution you will be able to create your own altcoin and will make billions worth of dollars on it. Some very smart people have tried in the past and are still trying.
More interestingly, there seems to be no real answer for the question you have asked. What is the real value, if the courts and legalities are what people need in this situations, and those things are already in place? Sometimes it really seems like the enthusiasm of most honest people coming into ICOs is fueled by the fact that they don't understand this. They don't comprehend what stocks are really about: making sure that the state can aid in contract enforcing.
Think otherwise? Please prove me wrong. There just don't seem to be any real industrial value in ICOs, we already have stock technology.
If your statement was correct, one could easily extend it and say that Internet is consuming a whole lot of power for the meaningless purpose of powering the switches and routers that make up the backbone of the network. That all that energy goes to waste to have some machines standing somewhere in a datacenter that noone sees.
Obviously, those machines transform the energy into practical utility, and so do ASICs calculating Bitcoin hashes.
Also this:
> Elaborate controls to make sure that currency is not produced in greater numbers is not something any other currency, like the dollar or the euro, has
Is very obviously incorrect. Fed and the congress have absolutely been producing new money in great numbers without any controls by the people. Ever seen the national debt watch? If you have not researched how Fed works and how (and when) new money has been produced during recent decades, you should really do that. You will be scared.
Two main points I see lacking in your analysis:
1. The deflationary spiral is presented as some "fact". There is no evidence that this is what happens if there is a fixed supply. It's absolutely logical that people WILL spend less if they know the money will be worth more next year. But how much less? Is that a bad thing? In many ways, all the recent economical troubles have been caused by exactly people spending too much, spending the money they don't have. Maybe deflationary supply is exactly what is needed for people to buy what they need, not go on buy-all-sprees just because they know their money won't be worth anything soon (as it is now in the inflationary model).
2. World history regarding the price of gold. As an example from Creature From Jekyll Island (a book), in ancient Rome, to buy a custom tailor-made suit and a pair of custom-made shoes cost 1 ounce of gold. This is approximately the same order of magnitute of what it costs today, by today's gold prices.
All while Gold is, by many standards, is deflationary as well. (Well you might say that new gold bricks are mined, but it's very limited. In the same way new bitcoins are also still mined and will be so for hundreds of years.) So what happened? If fixed supply is such a bad thing, why don't people just hoard gold and the price is through the roof?
On the contrary, the history shows many examples where after societies went from the gold standard to the more "fluid" money supply, when governments started to mix other metals in the coins, when they removed gold at all - that's when the economic troubles started. Human-controlled money supply has proven itself time and time again non-functional. The people in positions of this power cannot avoid abusing this power.
There are a lot of things that point to the notion that it is in fact the "deflationary spiral scare" that is a joke, and a fixed supply is what is needed in the long run to make money work most effectively.
In practice the situation is very different, because noone knows (or has any way of knowing) what objective reality is, and whether one's beliefs are "false" or not. Yes, we do have the scientific method and some ways of trying to figure things out, but ultimately it's a question of choice of right mindset. The right framework. An experiment might get some data within a framework. It cannot give you a framework.
With the belief "africans are humans" example, we might all agree on that. However on the beliefs like "if it feels hard to learn this skill, it just means I'm not cut out for this" versus "I can learn anything, universe is friendly and will ultimately give me what I need, I'll keep trying to learn this" - something like that will give you hard time if you're doing solely by scientific method and if you think that you can even know whether the belief is truthful to some "objective reality" or not. Both of the stances can be shown to be "truth" or "false", and they they will yield so different results in the personal life of a human that chooses to acquire them. Is believing one of them is self-deception? Maybe it's believing the other that is self-deception?
>> I'm very wary of interpretation motivated for pleasure as opposed to clarity and truth.
And it's very interesting how that has been working out for you? In most people that I've studied it does not lead to a particularly happy life. (Not just stable, but happy.)
I think the core issue here is that in the internal world of humans' souls, there is no such thing as "clarity and truth". It does not work that way. Something like pleasure (but concepts of love, compassion, greatfulness, and others can give even better results) are just better suited. Because in the areas where they are used (the happiness and enlightenment) those things are just easier to find. Concepts of "truths" on the other hand are notoriously elusive and in many ways simply non-existant. What is your life, a tragedy of stoicism? A pointless nihilistic movie? An enlightened miracle? Which one is the "truth"?
I am assuming your full definition is not "Free Will is the capacity to have done differently given the same situation.", because that definition has a lot of problems: How do you define "same" situation? In our life there are no two cases which can be called "same situation". There are no 2 same humans, there are no 2 same time instants, there are no two same life situations, etc.? So what is the point of having this definition? At the very least, it's very non-scientific?