Cryptocurrencies have two applications:
- illegal activities, notably buying drugs, paying for ransomware and money laundering. But also paying for anti-censorship services from inside dictatorships. Illegal activity can be good when governments are bad, and arguably selling drugs should be legal.For this reason Ciro Santilli believes that privacy coins like Monero are currently the most useful cryptocurrencies. Also, people concerned with their privacy are likely to more naturally make fewer larger payments to reduce exposure rather than a bunch of small separate ones, and therefore transaction fees matter less, and can be seen as a reasonable privacy tax. Also drugs are expensive, just have a look at any uncensored Onion service search engine, so individual transactions tend to be large.
- inflation-resistance due to money creation in fiat currencies. Money printing is a bad form of tax. But why not just instead invest in bonds or stocks, which actually have a specific intrinsic value and should therefore increase your capital and beat inflation? Even if crypto did take over, its value would eventually become constant, and just holding it would lose out to stocks and bonds. And pre-crypto, salaries should adjust relatively quickly to new inflation levels as they come, though there is always some delay. Also, for non-anonymous cryptocurrencies, governments will sooner or later find a way to regulate and pervert it. If you want to do things without anonymity, then what you really have to fight for is to change government itself, perhaps with a DAO-like approach, or pushing for a more direct democracy.
The key difficulties of cryptocurrencies are:
- how do transaction fees/guarantees/times compare to centralized systems such as credit cards:Obviously, decentralized currencies cannot be cheaper to maintain than centralized ones, since with decentralization you still have to send network messages at all times, and instead of one party carrying out computations, multiple parties have to carry out computations.
- bitcoin.stackexchange.com/questions/1261/is-it-possible-to-send-bitcoins-without-paying-a-fee "The Blockchain Scalability Problem & the Race for Visa-Like Transaction Speed" (2019)
- towardsdatascience.com/the-blockchain-scalability-problem-the-race-for-visa-like-transaction-speed-5cce48f9d44
Crypto could however be close enough in price to centralized systems that it becomes viable, this can be considered. - how can governments tax cryptocurrency. Notably, because:See also globalization reduces the power of governments.
- taxation has to be progressive, e.g. we have to tax the rich more than the poor, and anonymity in transactions would weaken that
- it would be even easier to move money into fiscal paradises, and then just say, oops, lost my passwords, those coins are actually gone
If crypto really takes off, 99.99% of people will still only ever use it through some cryptocurrency exchange (unless scalability problems are solved, and they replace fiat currencies entirely), since downloading full blockchains is unfeasible, so the outcome would be very similar to PayPal, and without "true" decentralization.
For those reasons, Ciro Santilli instead believes that governments should issue electronic money, and maintain an open API that all can access instead. The centralized service will always be cheaper for society to maintain than any distributed service, and it will still allow for proper taxation.
Ciro believes that it is easy for people to be seduced by the idealistic promise that "cryptocurrency will make the world more fair and equal by giving everyone equal opportunities, away from the corruption of Governments". Such optimism that new technologies will solve certain key social problems without the need for constant government intervention and management is not new, as shown e.g. at HyperNormalisation by Adam Curtis (2016) when he talks about the cyberspace (when the Internet was just beginning): youtu.be/fh2cDKyFdyU?t=2375. Technologies can make our lives better. But in general, some of them also have to be managed.
In any case, cryptocurrencies are bullshit, the true currency of the future is going to be Magic: The Gathering cards. And Cirocoin.
One closely related thing that Ciro Santilli does think could be interesting exploring right now however, notably when having Monero-like anonymity in mind, would be anonymous electronic voting, which is a pre-requisite to make direct democracy convenient so people can vote more often.
TODO evaluate the possible application of cryptocurrency for international transfers:Of course, the ideal solution would be for governments to just allow for people from other countries to create accounts in their country, and use the centralized API just like citizens. Having an account of some sort is of course fundamental to avoid money laundering/tax evasion, be it on the API, or when you are going to cash out the crypto into fiat. So then the question becomes: suppose that governments are shit and never make such APIs, are international transfers just because traditional banks are inefficient/greedy? Or is it because of the inevitable cost of auditing transfers? E.g. how does TransferWise compare to Bitcoin these days? And if cryptocurrency is more desirable, why wouldn't TransferWise just use it as their backend, and reach very similar fees?
This is the first thing you have to know about supervised learning:Both of those already have hardware acceleration available as of the 2010s.
- training is when you learn model parameters from input. This literally means learning the best value we can for a bunch of number input numbers of the model. This can easily be on the hundreds of thousands.
- inference is when we take a trained model (i.e. with the parameters determined), and apply it to new inputs
Surely You're Joking, Mr. Feynman chapter Alfred Nobel's Other Mistake Updated 2025-07-01 +Created 1970-01-01
Key quote that names the chapter:
My friend Matt Sands was once going to write a book to be called Alfred Nobel's Other Mistake.
One of the most nerve wrecking movies ever made. Until they decide to rescue their colleague from jail, then it just becomes too surreal.
Two ways to see it:
- a ring where inverses exist
- a field where multiplication is not necessarily commutative
An IBM made/pushed term, but that matches Ciro Santilli's general view of how we should move forward AGI.
I guess ended up doing all the "how things should look like" features because they clarify what the website is supposed to do, and I already have my own content to bring it alive via
ourbigbook --web
upload.But now I honestly feel that all the major elements of "how things should look like" have fallen into place.
I was really impressed by Trillium Notes. I should have checked it long ago. The UI is amazing, and being all Js-based, could potentially be reused for our purposes. The project itself is a single-person/full trust notetaking only for now however, so not a direct replacement to OurBigBook.
Explaining this was was one of the key initial achievements of the Dirac equation.
Yes, but this is not predicted by the Schrödinger equation, you need to go to the Dirac equation.
See also:
- physics.stackexchange.com/questions/233330/why-do-electrons-jump-between-orbitals
- physics.stackexchange.com/questions/117417/quantum-mechanics-scattering-theory/522220#522220
- physics.stackexchange.com/questions/430268/stimulated-emission-how-can-giving-energy-to-electrons-make-them-decay-to-a-low/430288
2023 Silk Road's Second-in-Command Gets 20 Years in Prison www.wired.com/story/silk-road-variety-jones-sentencing/
2016 "Exclusive: Our Thai prison interview with the alleged top advisor to Silk Road" arstechnica.com/tech-policy/2016/09/exclusive-our-thai-prison-interview-with-an-alleged-top-advisor-to-silk-road/
2015 The Variety Show On the trail of the man believed to be Variety Jones, one of the architects of the defunct drug marketplace Silk Road. www.vice.com/en/article/wnx5qn/the-variety-show
www.justice.gov/usao-sdny/file/797251/download some kind of case file of his trial.
Bibliography:
The curious thing about VJ is that he actually has some culture and says cool things, e.g.:
There are unlisted articles, also show them or only show them.