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Najska (OP)
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November 12, 2014, 07:55:23 PM |
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OK, I’ll write the philosophy behind this enterprise, and explain why it has a significant place in the ongoing sociopolitical revolution led by, or at least marked by, bitcoin. But I’ll write it only once, so take your time reading it before coming up with any further questions.
While it might be seen from a computational point of view that the main tenet of bitcoin is decentralisation, the main reason behind the revolutionary nature of bitcoin, or, to generalise, the block chain technology, is not essentially because it solves the famous Byzantine fault-tolerance problem. Scientists solve problems all the time, but there is no correlation between the greatness of the problem solved and the social impact the solution potentially has. However, the greatness of the problem, in our case of cryptocurrencies, convinces the engineer and blinds the laymen, in that, they cannot see the real merit of the ongoing revolution, that is, a form of financial freedom.
So, it is not decentralisation but the possibility of transferring funds through an essentially deregulated network that constitutes the sociopolitical importance of bitcoin. If that freedom was possible with a good degree of reliability but without the technology that stipulates decentralisation, then the sociopolitical revolution would be led by the system that brings this possibility, leaving the issue of decentralisation to its own as a scientific interest of a great value but little social impact. But appreciation of those fine distinctions is not straightforward, which is why the development of the underlying technology has turned into a decentralisation fetishism in which the enthusiasts take decentralisation as a value in itself. As a result, the conservative bitcoin community ended up in a community of crypto-authoritarian guardians which sees the world through the glasses of decentralisation.
So, just as you don’t ask a bitcoin accepting teddy bear shop to decentralise its toys, you shouldn’t ask a bitcoin denominated financial service company to decentralise its services. Transactions made with bitcoin at the denominator strengthen the entire bitcoin ecosystem; those services seeming to decentralise things without bitcoin being the denominator weakens the whole system in the same way. End of conversation. If you don’t understand how this works, study some economics, finance or whatever. And that explains why, as committed financial liberation activists, we will accept bitcoins, and bitcoins only.
There is an ongoing debate whether bitcoin is dollar 2.0 or PayPal 2.0. Bitcoin is none. In plain English, bitcoin would suck in being both if it gains as large acceptance as dollar or PayPal has. Bitcoin is gold 2.0, on top of which centralised financial institutions should be based. Those are some speculative ideas, of course, and the time will show us who’s right. I am not here to educate people, nor to convert or convince anyone. My call is for those who are already with me in this debate, and who think they can make this industry a more meritocratic place with less fees and less restrictions.
With those being said, I believe I can theoretically show that an ‘almost provable’ security is achievable in centralised fee-free off-chain cryptocoin transactions with the help of cryptographic tools. However, I am not an expert in network programming, nor have I enough fund to maintain this project by myself. That is why I am seeking for similar-minded persons.
Ripple is somewhat a similar enterprise, but they lack the needed vision. Bitshares also seem to have good intentions, but they suck in many ways. I believe our enterprise will be different because of its philosophy and vision. After all, what makes bitcoin different is its philosophy and vision, not some details only the geek could understand. So, our bank will be the prototype of the bank of the future, if you believe in the future of cryptocoins. And it is best if someone who knows and cares about the sociopolitical significance of cryptocoins undertakes such a project. Otherwise we would need another Satoshi for another revolution.
So, anyone likes cats?
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