[Cryptography] I am not against good cryptocurrencies. I just don't think you can build one with a block chain protocol.

Karl gmkarl at gmail.com
Sat Jan 2 19:12:37 EST 2021


On 1/2/21, Greg <greg at kinostudios.com> wrote:
>> On Jan 2, 2021, at 3:59 PM, Karl <gmkarl at gmail.com> wrote:
>>
>> It's not about black or white, it's that here the reward for secret
>> advances in breaking digest algorithms is being able to physically and
>> legally produce your own money out of thin air, and you get
>> exponentially more money the faster you do it.
>
> You’re saying that if the cryptography were to be broken, then this new
> money system could momentarily degrade back into the state of the existing
> financial system that we currently have?

No, didn't that already happen?  Feel let me know publically or
privately if what I'm saying is dangerous or pointless.

I'm trying to talk about the huge swings in resource allocation to
private and public cryptographic research that are intertwined so
confidently with economics as a result of blockchains, but I'm not a
cryptographer to know how to talk about it very well.

> Yes, I suppose that would be an issue.
>
> Cheers,
> Greg
>
>
>
>


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