Posts tagged "cryptocurrency"
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Atalanta: Monero's Reservist Army
Here’s the follow-up to a recent post about Qubic’s attack on Monero’s blockchain. There, I argued that Behavioral Economics was the answer. Otherwise, people can just play the ‘loose/aggressive’ tactic until it works. It would be wrong, however, to think that technical strategies don’t play a part. This post is an add-on. It will get pretty nerdy. I think Monero needs something like a wasp’s sting. It needs a way of causing harm to them who would cause it harm.
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CFPCs
The label 'CBDC' is deceptive and should be discarded. I suggest a replacement: CFPC. Centralized Fiat Programmable Currency. This is important because the existing term throws us off the scent.
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How To Set Up OpenAlias DNS
Have you used my OpenAlias Record Maker, and copied your valid OpenAlias record? Skip ahead to Step 3. Otherwise, there's one crucial step first. You need your own domain.
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Monero Under Attack
At time of writing, the Monero Blockchain is under attack, and not by some secretive group of hackers, as is usually the case, but by the leaders of a rival coin, qubic (QUBIC). Qubic didn't do anything clever. Qubic said to Monero's miners: "Keep mining XMR, but do it under our control, and we'll triple your profit." Admittedly, it doesn't take much to lure a miner. I think Monero's miners are more loyal than others.1 I suspect that Qubic lured away far fewer miners of monero (XMR) than implied. The whole organization smells fishy to me, but I won't go down that rabbit-hole here. There's a lot of cap-and-gown disquisition at the moment. Proof-of-Work in general is under scrutiny. Well-meaning nerds reach for technical solutions by default, but I think Satoshi's system was successful due to behavioural economics.
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The Coming Crypto Crisis Opportunity
I want to get ahead of this one. I suspect a plan is being rolled out. A recent article in the Financial Times alerted me to it. The plan is to coordinate media to blame crypto for the next big crash. I also think a big crash is closer than we think.
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Two Kinds of Centralization
Recently, I wrote that, by calling it a 'Central Bank Digital Currency', it's too narrow, our scope of wariness. The ‘Central Bank’ part is not to be sneezed at. Just don't end up watching for wolves and getting mauled by a bear. It’s the centralized aspect itself which demands vigilance. If our form of money is centralized, then expect it to be conquered. This might come as a dramatic takeover, but more likely would happen with bribery and blackmail behind the scenes. I want to flesh this idea out with examples. Specifically, I want to look at the two main kinds of centralization with a cryptocurrency: centralized ‘mining’ (i.e. the minting of digital currency) and centralized development.
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What is P2P V4V?
P2P V4V stands for 'Peer-to-Peer, Value-for-Value'. 'Peer-to-Peer' is a way of doing commerce. 'Value-for-Value' is a way of doing commerce. Both have been around for a while now. As far as I know, joining them together is new. The result is a basic framework for commerce that is fairer and freeer and leverages existing 21st century technology.
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