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?

Ciro Santilli is actively looking for donations and contracts so he can continue to work full time on OurBigBook.com sustainably, and develop free hardcore university-level STEM education for all ages!

At 100k USD, I quit my job to work full time on it for one year. During this year I will use my contacts with STEM students of a world leading university near where I live and solve as many of their problem sheets as possible, mostly by referring to OurBigBook.com articles I'll be writing. The goal is to get as much STEM knowledge as possible into the world, and highlight how flawed presencial and sequential Higher Education is, while positioning OurBigBook.com as an alternative way to organize humanity's knowledge. Quite grand.

Status: ~144k / 200k USD reached. 1st year locked in and started 1st June 2024 to 31st May 2025^[ref], 2nd year stretch goal open. A second year greatly improve chances of success: year one I solve a bunch of courses, year two I come guns blazing with the content and expand further. Donation breakdown:More details: Section "Accounting method"

At 1M USD I retire and work on open STEM education forever.

Note to potential anonymous crypto donors: anonymous donations incur a regulatory risk. I cash out most of such donations and announce it very clearly to the government and banks. For example, at one point Barclays even froze my UK account. But things seem manageable for now. On one hand, such donations serve as a fun test of the financial system. But on the other, if all banks reject my money or if the government decides to take it, I will write off the anonymous donation at zero.

How to give:And if you have a different preferred payment mechanism not listed above, please contact Ciro, and he will set it up.

Ciro's current ambitions require him to remain in developed countries, because Ciro wants to document advanced science and technology by liaising with top universities, and there is not nearly as much high technology in poor countries. Remaining in developed countries is also a required due to family reasons.

If you would like public acknowledgement for your support, Ciro will very gladly give it, just let Ciro know how you'd prefer it. Due to Ciro Santilli's campaign for freedom of speech in China, many supporters have chosen to be anonymous, and that is totally fine, not everyone is interested in politics, or has a situation where going public is acceptable, so we don't have a standard setup yet, let's build it together. A acknowledgement section at the bottom of this page would be a minimum, but I for larger donations we could add a your advertisement in a locations such as:

100k USD/year is a semi arbitrary amount that sounds nice. My last day job total compensation as of 2024 was about 150k USD/year.