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dx1

@ dx1 @lemmy.world

Posts

34
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1064
Joined

3 yr. ago

1y ago

Etherium logo finally makes sense
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dx1 @lemmy.world 1y ago

You can program anything up to and including judicial oversight and interaction rescission into a smart contract. Not all existing laws make sense or have a positive effect on this ecosystem. Many have a negative effect, speaking from experience.

1y ago

Etherium logo finally makes sense

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dx1 @lemmy.world 1y ago

I will not be able to convince someone who's stubbornly ignoring everything I'm saying. Go waste someone else's time.

1y ago

Elon Musk finally admits Social Security is on the chopping block

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dx1 @lemmy.world 1y ago

Well, their interpretation is at odds with reality, and they should reconcile that. Regardless of what they told or what they believed, they paid into a system where they were forced to subsidize current recipients, while the system itself could be revoked at any point, leaving them high and dry, and not running into 14th Amendment issues or anything like that. See Flemming v. Nestor, 1960 - quoting Wiki:

Flemming v. Nestor, 363 U.S. 603 (1960), was a United States Supreme Court case in which the Court upheld the constitutionality of Section 1104 of the 1935 Social Security Act. In this Section, Congress reserved to itself the power to amend and revise the schedule of benefits. The Court rejected that Social Security is a system of 'accrued property rights' and held that those who pay into the system have no contractual right to receive what they have paid into it.[1]

Note that I'm not saying anything "should" be one way or another, besides that people should be fully aware how the current system works in law.

1y ago

Etherium logo finally makes sense

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dx1 @lemmy.world 1y ago

You can mimic any existing setup for tracking deeds and similar, or invent new ones, with the added quality that they can't be doctored. Once something is recorded, it's recorded for good.

1y ago

Etherium logo finally makes sense

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dx1 @lemmy.world 1y ago

What do they "make"? They control for the risks in social economic interaction with potentially adversarial parties. Ethereum is proof of stake, it doesn't burn up tons of fossil fuels. And the contracts aren't subject to human interpretation after being authored, they're deterministic at the protocol level (save for the entire network deciding to revoke the contract).

Why are you making fundamental mischaracterizations of the technology while acting like an expert? What you're doing is dishonest.

1y ago

Elon Musk finally admits Social Security is on the chopping block

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dx1 @lemmy.world 1y ago

Social Security's "trust fund" is an empty pit of debt obligations. Benefits to current recipients are paid with incoming payroll taxes. Any difference is made up with additional taxes or monetary inflation, by way of Treasury bonds. They "reinvest it in the economy" if there's ever a surplus, e.g., through military contractors. It finances the national debt.

Putting aside the quirks of that setup, the basic function is that the taxes you pay in now are not an investment in your own future, you're basically just paying for the retirement of older people now. The expectation is that someone down the road will then pay taxes to finance your retirement. Hence, how SS was able to start paying benefits almost immediately (3 years) after payroll taxes started being collected.

1y ago

Billionaires at Trump’s swearing-in have since lost $209 billion

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dx1 @lemmy.world 1y ago

What is your prediction for what will become of it, though. GDP growth stops and people start bursting into flames? You know we've actually observed this before, right?

Now, if you do mean "capitalism" not in the plain definition of "an economy based around private ownership", but the more specific version where control of capital is highly centralized - there's some truth to the idea that economic decline can cause people to start looking to reform that system. True of any system, really, because people generally don't want to see their quality of life decrease. But that's very different than an economic system "requiring" it to function.

1y ago

Billionaires at Trump’s swearing-in have since lost $209 billion

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dx1 @lemmy.world 1y ago

Capitalism does not "collapse" with 0 or negative GDP growth. I don't know where people got this idea. You only really see any sort of "collapse" if the social structure breaks down - the basic behaviors of trading continue even in extreme crises, insofar as a society operates with property assigned to individuals like that. Not counting "bubbles" and such as a "collapse".

1y ago

Billionaires at Trump’s swearing-in have since lost $209 billion

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dx1 @lemmy.world 1y ago

Unfortunately our own pensions and such are also getting wiped out by the same forces. And with less access to insider information.

1y ago

Etherium logo finally makes sense

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dx1 @lemmy.world 1y ago

Yes, work. Smart contracts are designed, programmed and, if they're done right, rigorously audited for correctness. Then you have user-facing interface and everything surrounding that as well. Look at the documentation of AAVE, for one example.

And this isn't even getting into the protocol level (L1 or L2) work either. Bitcoin was relatively simple, Ethereum is not. They've spent years crafting these systems to function for PoS, L2 support, sharding, rollups, etc., at scale.

1y ago

Etherium logo finally makes sense

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dx1 @lemmy.world 1y ago

Yes, for the limited subset of ERC20s or whatever you describe as "ponzicoins". Things that actually do nothing, particular not doing anything more than L1 cryptos but "this is yet another token", are not really adding any value. But I would be really surprised if you can name any more complex contracts than ERC20s (or ERC721s), which is where the work in the space actually goes.

1y ago

Etherium logo finally makes sense

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dx1 @lemmy.world 1y ago

I reckon most of that already is. A real estate escrow smart contract is maybe 200-300 lines long in Solidity, depending of course on what it supports (contingencies and such). You may want to actually go look around, because there's I don't know how many millions of lines of Solidity already written. It doesn't all get as much publicity as NFTs.

1y ago

Etherium logo finally makes sense

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dx1 @lemmy.world 1y ago

"Greatest fool" description relies on the precept of its utility or demand returning to zero in a near-future timeframe. If people have utility for "the thing", that won't be the case.

1y ago

Etherium logo finally makes sense

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dx1 @lemmy.world 1y ago

Also they have some smart contract capabilities which I suppose Ethereum people think are important. But I’ve never seen any practical use for that stuff.

Anything you need complicated multi-party interactions for that you want guarantees on. Real estate escrow comes to mind first. Depository accounts with yield. An immutable archive of records. Multi-signature corporate treasuries. Whatever. It's programmable money. It's not even necessarily monetary, because smart contracts can just deal with arbitrary data.

Never impressive to see a technical audience shit all over Ethereum for internet points. By far the least scammy crypto people have actually dedicated years into building something real on.

1y ago

Current chain of command

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dx1 @lemmy.world 1y ago

According to....that woman with a book about his wealth? Article says 70 to 200 btw, not 200. Sources elsewhere guess much lower (tens of billions).

US GDP is 27.72 trillion. That's the movement of money annually.

1y ago

Current chain of command

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dx1 @lemmy.world 1y ago

Yes, Putin's in charge, with his one hundred million dollars (sarcasm, not exact figure) and zero sway over the entire Western economic establishment.

1y ago

Feminists

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dx1 @lemmy.world 1y ago

If you look at the entire span of all cultures and all history, I think there's tons of random examples of essentially one form or another of religious or ideological thinking that caused massive atrocities. Genghis Khan comes to mind as someone responsible for millions of deaths through, as the author of your first link puts it, a kind of "mouth with a bottomless pit" mentality of devouring everything. Hitler is distinguished in part by the mechanization of his efforts, but that is true of every imperialist genocide of the 20th and 21st centuries. The people he killed in open genocide don't even scratch a tenth of the total killed by both sides in that same war - which really begs the question, what is the distinction between war and genocide? Combatants vs. non-combatants? If someone is talked into fighting, does their life suddenly stop having any value? Is it less a crime in ethical terms, not legal terms, to kill an average soldier? It gets justified by saying the other side of a conflict had some devastatingly evil ideology, but is killing someone actually the best way to deal with them having evil ideas? I'm more inclined to take the stance uh, I think Steinbeck said, "All war is a symptom of man's failure as a thinking animal." The deepest evil is the people leading us to slaughter each other, not the people we're slaughtering.

1y ago

GOP Proposes $4.5 Trillion Tax Giveaway to the Rich While 'Ransacking' Food Stamps and Medicaid

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dx1 @lemmy.world 1y ago

It's not laymen, it's a journalist. Their job is to accurately describe the truth.

1y ago

Feminists

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dx1 @lemmy.world 1y ago

Bro… Not historical Nazis? You mean the ones that committed the most despicable evils in all of humanity’s written history?

Just reading that a few times and I think, how exactly do you determine that? The number of deaths? Because the genocide of indigenous people in the "Americas" exceeds it several times over. You think about the "Congo Free State", it had deaths on the same order of magnitude and a system of total enslavement and mass mutilations/executions based on failing to meet work quotas. Not to trivialize one, but to make sure others aren't ignored. When it comes to the genocide conversation, it seems like European imperialism in Africa just gets completely left out.