Ciro Santilli @cirosantilli 34

The key difficulties of cryptocurrencies are:

Until those problems are solved, the only real applications of cryptocurrency will by illegal activities, notably buying drugs, paying for ransomware. 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.

Hedgint against inflation due to money creation in fiat currencies is a another valid argument for cryptocurrencies. 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, without anonymity, 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.

If crypto really takes off, 99.99% of people will only ever use it through some cryptocurrency exchange (unless scalability problems are solved, and they replace fiat currencies entirely), so the experience will 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?

The "most prestigious French engineering school". Only 3 Nobels though as of 2019, the scientists are mostly at École normale supérieure (Paris). A gazillion CEOs ad politicians however.

Ciro Santilli studied there from 2010 to 2013.

Ciro considers him entering at Polytechnique a small miracle. First, on his second year of University in Brazil, he first had to fail to join the also good but not as good École centrales, which really annoyed him as he saw the "other good students" who wanted to go out get their wish. This also explains why there are so few students from his university going to Polytechnique in the late 2010's: most already went to other locations! Then, on his third year, he tried Polytechnique and got in despite feeling that the others who got in knew much more mathematics and physics than him. Rather, Ciro believes that he got in chiefly due to his intense passion for the sciences which he showed during the interview.

The miracle would have been even greater if it had happened in 2020. At this time, out of 10 Brazilians, 9 are from ITA, the "hardest to get into" university in Brazil, and also military like Polytechnique. Make no mistake, those students are amazing and deserve it without any doubt. But there is more to the story. It could be argued that many of them only go because they don't have any other choice of exchange program. Remember: Ciro had to fail applications on previous universities before getting into Polytech. Also, they don't get any Brazilian degree because ITA has no agreements with Polytechnique, and are therefore extremely likely to never come back. Not that Ciro thinks this is particularly bad for Brazil though, but it does make for a better deal for France overall as well. They also happen to have closer ties across cohorts of different years, and have managed to maintain a Google Doc with scanned past examinations (as of 2020 however, some/all of those examinations have been uploaded publicly, big kudos to them). Also almost all of them are software engineers, which is one of the few disciplines given at the relatively small ITA. This lack of diversity might not be ideal: if I were France, I would rather fish around all top Brazilian schools for "the best".

Besides the amazing funding/opportunities/alumni/staff loop which you can read about elsewhere, Polytechnique is amazing because you can choose what you will study every year to a very large extent.

This is in huge contrast to the crappy systems Ciro had seen e.g. in Brazil's Polytechnic School of the University of São Paulo, where students have to decide basically all their courses in huge packages, either at university entry (thus when they are completely clueless), or at a single point inside the university studies, changes being much harder.

Life quality was also amazing. Good free accommodation on campus and at the time a no-obligations scholarship for every foreign student great sport facilities. It seems that after Ciro left however more restrictions are added to the scholarships, what a shame! As of 2020 not everyone gets scholarships anymore it seems, mostly only loans that have to be paid back later. And those who are not poor have to pay Polytechnique scholarship fees on top of their living costs. And thus French austerity measures are undermining the greatest long term investment a country can possibly make: that of importing the very best students from other countries into yours. This after their host country has already spent 20 years raising and selecting them. And you won't even pay them 2 years of frugal existence to steal some of them them. Even if those students move away from your country later on, the contacts they made in your country mean they are much more likely to bring businesses over. But some will stay. Basically, France is becoming more like the United States.

This also makes it much more difficult for those students to do a PhD afterwards, where they would get paid very little, and are unable to pay their student debts. A PhD would be where they would possibly bring more of the next big thing to your country. Instead, they are much more likely to just go work for some big American company data wrangling and bring nothing to your country but their student debt dividends instead, which they will be pay to pay for in one year with those amazing salaries. And unsurprisingly many go to into banks. What a big time fail, France.

Sport was mandatory due to the military nature of the school. This did have the upside of getting students together more, although Ciro is against all forms of forced intellectual of physical activities for students. If you liked your sport it would be really cool though. But due to Section "Ciro Santilli's knee", he was forced to give up his first beloved choice which was soccer... life can be cruel. If only Ciro had known cycling at at the time, and if only that had been one of the sports you could choose (but of course it isn't, no school will want the bad reputation of when one of their students gets killed in a car accident).

There were also some useless "military exercises", or special situations in which you had to wear the useless school uniform as a formal "respect social clothing". Ciro Santilli is completely against all that meaningless bullshit, this his just a form of theatrical masturbation to nostalgically remember the good old days of Napoleon when France still ruled the world, and before they tortured the Algerians, see also: Video 4. "Gérard Fuchs interview from Ils racontent la Guerre d'Algérie (1982)". If you are going to do military-like stuff, then at least teach students how to shoot modern rifles and modern warfare tactics (which some of the French students actually do in the pre-school mandatory internship), and not this 18th century bullshit. Ciro favours of course the hoodie-wearing, "I only care about your abilities meritocracy" culture of Silicon Valley. And without the political correctness now associated with it in the 2020s. And no shooting people if possible.

During the time Ciro was at Polytechnique in early 2010's, the school was really isolated in the Plateau de Saclay, there were no shops in 10 minute walking distance! You either had to climb 300 steps to go down to the nearest village, Lozère, or take a bus to the nearest town, Massy. The fact that Times Higher Education ranked it as the second best university in the world in 2019 (archive) makes it good justice, given the small 500 student body. Things started to change a bit after Ciro left however, with the creation of the Polytechnic Institute of Paris, which is bringing other schools to the Lozere area. This is for the best, as it might improve the global rankings of Polytechnique. Also it is a waste to have so few students at a technopole. But it will reduce the mystique of the place. You can't have everything in life.

Before 1976, Polytechnique was actually in the center of Paris at the Latin Quarter, so the Lozère mystique is not a traditional thing. But even when in Paris, students were in theory restricted to school grounds a most of the time. Although there are famous stories of a certain tree that could be used to climb the fence to go to Parisian parties when they couldn't stand it anymore. The tree was somewhat intentionally overlooked by school administrators. Polytechnique was drawn to Saclay no doubt because of the gravity of the CEA Paris-Saclay, France's analog to the United States Department of Energy national laboratories.

This made for some good memories though. The isolation favored concentration, and gave the place a mystical feeling. And then when you went to eat amazing Chinese food in Paris it just felt even more special and magic since you were so limited during the week. It was also under those magical circumstances in which Ciro met his wife, another student of the school, see also: Section "The main function of university is sexual selection".

Ciro also agonized about passing courses to get useless grades though! Polytechnique is hard for most Brazilians, specially if you select the more mathematics oriented courses, because the French students were math brainwashed for two years before joining.

Ciro's favorite spots/activities:

The following promotional videos give an idea of how the school looks like, although they fundamentally miss the little corners that Ciro really loved in that the place and which made it magic:

And a one second Ciro Santilli appearance from a 2016 video made during the annual Brazilian barbecue (or as close as you an get to it) which many ex-Brazilian students attend able: www.youtube.com/watch?v=ndX_-A2Rjpo&t=189 wearing a Ring t-shirt.