Re: United we stand, divided we fall - the coming rise of cryptofiat

One that I find obvious is that they can hide their legerdemain in plain sight. Instead of fractional reserves, they have an adjustable rate of proof of stake, based on some metric they control. It appears that all money creation is above board and clean... but they control the metric.

I could go on for a while on the ways they might subvert the technology while APPEARING to "fix" the economic system. If they can come off as heroes, then they elevate themselves and again appear to be the benevolent overlords.

EDIT. Just saw your flavor text. Lose and loose Cheesy

I hate that shit. Bravo!

Sorry to step in here, but it's very interesting stuff, your perspective seems clear and true.

The bolded part, that is the part that seems illogical to us... One party able to tweak issuance destroys the fairness of a blockchain.

But then as you allude to, it only needs to "look good" to the majority, the more objective minds don't seem to be considered nowadays as we've seen in so many of the farces over the past few decades.

So a "cryptofiat" system although an oxymoron might be implemented and lauded by the dumb masses. Undecided

Yes, it does seem illogical. On it's surface, it is, because you're proceeding from the axiom that a greater degree of liberty is a good thing. They are NOT proceeding from that axiom. Govenments are parasites. They produce nothing, steal everything they have, and distribute it by whim (seemingly). A good parasite does not too quickly kill the host.

I've said for years that governents are organisms. Free men are their food. Thus, when the food gets smart or lucky, they have to work harder or change direction.

Yes, I've also thought of governments and religions as competing organisms. Surviving and evolving over millenia, passing on memetic information instead of genetic. Using every trick in the book to survive, multiply and kill competitors.

I still carry a little faith that a more symbiotic ( to humans and environment ) parasite may become the winning one some day. Maybe technology like bitcoin will help us with that.

Reminded me of this vid:
http://www.youtube.com/watch?v=H6b70TUbdfs