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Re: <nettime> Ethereum: DAO - "The Attacker"
Morlock Elloi on Wed, 13 Jul 2016 08:53:45 +0200 (CEST)


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Re: <nettime> Ethereum: DAO - "The Attacker"


If minting was massively distributed, then there would be basis for
assessing Bitcoin as fundamental/mathematical foundation, and Ethereum
as new age fad.

But there is no distributed minting. There are 4 mints owning the
majority, and the end game is one single mint. The whole Bitcoin
concept has been broken, and currently it is not more real than ETH or
Monopoly money.

It's the old story - great concept, consistently poor
executions and outcomes, but the concept just refuses to die
and keeps attracting acolytes (as communism, capitalism,
bring-your-own-bag-to-supermarket-ism.)

The thing about blockchain is that it (declaratively) embodies time,
the one-way time with unchangeable past, so it can be pegged to
pretty much anything that has evolution, from the Universe (Big Bang,
inflation, steady state fit perfectly) to life (garbage DNA is just
old blocks) etc. Blockchain has (theoretical) chance of outlasting
anything human-made so far.

So did communism.


How to disagree? but then I cannot really mix in my mind the
societies behind Ethereum with Bitcoin. They are two different
things... ETH is imbued of the guruist pop subproduct of
Kurzweil's brainfarts, seems like the Zeitgeist mob married the
Californian-ubermensch futurism and now wants to mint stuff.

Lots to learn from Raelians there, indeed. My sixth sense tells
me they are sipping 0xb4dc0ff3 while trying to store vanity-mined
crypto hashes in the DNA of newborns. Down to Earth and after the
bubble bursts, that seems to be the industry sector with most
growth over there. Is there literature comparing blockchains to DNA
already? Watch it.



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