Merge remote-tracking branch 'origin/docs'
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@ -1105,6 +1105,44 @@ people will start Sovcorps. So to get a foot in the door, we have to cherry pick
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and snipe little areas where the big network is failing, and once we have a foot
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and snipe little areas where the big network is failing, and once we have a foot
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in the door, then we can get rolling.
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in the door, then we can get rolling.
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### failure of previous altcoins to succeed in this strategy
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During the last decade, numberless altcoins have attempted to compete with
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Bitcoin, and they all got crushed, because the differences between them and
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Bitcoin really did not matter that much.
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They failed to differentiate themselves from bitcoin. They could
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not find a niche in which to start.
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Ether did OK, because they supported smart contracts and bitcoin did not,
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but now that bitcoin has some limited smart contract capability,
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they are going down too, because bitcoin has the big network advantage.
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Being the biggest, it is far more convertible into goods and services
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than any other. Which means ether is doomed now that bitcoin is
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doing smart contracts.
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Monero did OK, because it is the leading privacy coin. It has a niche, but
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cannot break out of the not very large niche. Because its privacy mechanism means it is
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a worse bitcoin than bitcoin in other respects.
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And the cold start problem means we cannot directly take over that niche either.
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But our proposed privacy mechanism means we have a tech advantage over both
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Bitcoin and Monero - better contract capability than Bitcoin or Ether, because
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a snark can prove fulfillment of a contract that without burdening the network
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with a costly proof of fulfillment, and without revealing everything to the
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network, and without the rest of the network needing to know what that
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contract is or be able to evaluate it. Because of its privacy mechanism,
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Monero cannot do contracts, which prevents atomic exchange between Monero
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and Bitcoin, and prevents Monero from doing a lightning network that would
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enable fast atomic exchange between itself and other networks.
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So if we get a niche, get differentiation from Monero and Bitcoin,
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we can then break out of that niche and eat Monero, being a better
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privacy coin, a better Monero, and from the Monero niche eat Bitcoin,
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being, unlike Monero, a better Bitcoin.
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### Bitmessage
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### Bitmessage
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The lowest hanging fruit of all, (because, unfortunately, there is
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The lowest hanging fruit of all, (because, unfortunately, there is
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@ -1124,8 +1162,8 @@ a little closer to the faint smell of money.
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So we create a currency. But because it will be created on sovcorp model
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So we create a currency. But because it will be created on sovcorp model
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people cannot obtain it by proof of work - they have to buy it. Which
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people cannot obtain it by proof of work - they have to buy it. Which
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will require gateways between bitcoin lightning and the currency supported by
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will require gateways between bitcoin lightning and the currency supported by
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by the network, and gateways between the conversations on the network and
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by the network, supporting atomic lightning exchange
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nostr.
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and gateways between the conversations on the network and nostr.
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# Development sequence
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# Development sequence
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@ -14,7 +14,7 @@ themselves ever going near the stuff, or knowing anything about the stuff.
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And, as ponzi scams tend to do, need to do, they grew and grew and grew,
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And, as ponzi scams tend to do, need to do, they grew and grew and grew,
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resulting many excited investors buying Enron shares.
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resulting many excited investors buying Enron shares.
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And some people wondered, “where are these mighty profits coming from. How
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And some people wondered, “where are these mighty profits coming from? How
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can you create value without ever getting anywhere near anything that actually
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can you create value without ever getting anywhere near anything that actually
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has value?”. To which Enron replied “financial wizardry”, which was, in a
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has value?”. To which Enron replied “financial wizardry”, which was, in a
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sense, true.
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sense, true.
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@ -99,11 +99,13 @@ Accounting is the art and science of making sense out of the books, and
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making sure the books make sense. In the aftermath of the Great Minority
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making sure the books make sense. In the aftermath of the Great Minority
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Mortgage Meltdown, a whole lot of entities went belly up, and when the
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Mortgage Meltdown, a whole lot of entities went belly up, and when the
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creditors went through the books, they found all the mortgages the entities
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creditors went through the books, they found all the mortgages the entities
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supposedly owned, but were frequently unable to find the people
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supposedly owned, but were frequently unable to find the physical people
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supposedly responsible for paying these mortgages, or the properties that
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supposedly responsible for paying these mortgages,
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and were sometimes unable to find the physical properties that
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were supposedly security for these mortgages.
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were supposedly security for these mortgages.
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Sox books just tend to not track value very well, being designed for a
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Sox books just tend to not track value very well, because they
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just don't track physical reality, being designed for a
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different, more complex, and difficult to define, task. Sox books tend to
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different, more complex, and difficult to define, task. Sox books tend to
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track official reality and disregard the reality of the ground beneath your
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track official reality and disregard the reality of the ground beneath your
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feet, the things in your hands, and what is before your eyes, with the result
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feet, the things in your hands, and what is before your eyes, with the result
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@ -128,7 +130,8 @@ startups trying to go public, since the potential investors know that the
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books do not accurately tell the investors how the business is doing.
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books do not accurately tell the investors how the business is doing.
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What established businesses do instead is prepare one set of books for
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What established businesses do instead is prepare one set of books for
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Sox compliance, and another set of books for management that do not comply
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Sox compliance, and another illegal and forbidden
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set of books for management that do not comply
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with Sox but which actually do reflect the movement and creation of
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with Sox but which actually do reflect the movement and creation of
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value, but a startup is not allowed to tell potential investors about the
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value, but a startup is not allowed to tell potential investors about the
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real books that actually reflect the movement and creation of value for the
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real books that actually reflect the movement and creation of value for the
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@ -93,7 +93,8 @@ which should be in a repository that only allows signed commits.
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Git now has a bunch of hooks that are accessed through config entries
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Git now has a bunch of hooks that are accessed through config entries
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starting with `gpg.` that potentially allow us to supply zooko names
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starting with `gpg.` that potentially allow us to supply zooko names
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for git signed commits.〕
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for git signed commits.〕You can sign a file or a commit, and
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`https://github.com/USERNAME.keys` is a central name authority.
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This may be inconvenient if you do not have `gpg` installed and set up.
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This may be inconvenient if you do not have `gpg` installed and set up.
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@ -261,25 +261,4 @@ speaks the truth under their true name.
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Web of trust was designed for a high trust society - but in a high trust
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Web of trust was designed for a high trust society - but in a high trust
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society you don't need it, and in a low trust society, the name servers were
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society you don't need it, and in a low trust society, the name servers were
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too vulnerable to enemy action, and died, leaving the Web of Trust user
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too vulnerable to enemy action, and died, leaving the Web of Trust user
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interface in every installed copy of gpg a useless obstacle to people
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interface in every installed copy of gpg a useless obstacle.
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trying to use gpg.
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Never `‑‑sign` any Gpg key related to this project. `‑‑lsign` it.
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`gitconfig` disallows merges unless you have told `gpg` to trust the
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public key corresponding to the private key that signed the tip of
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the root. So part of the pull request process is getting the puller to
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trust your public key, and you will not be able to pull updates
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unless you tell `gpg` to trust the key that is in the root directory as
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`public_key.gpg`.
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Never check any Gpg key related to this project against a public
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gpg key repository. It should not be there.
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`gitconfig` disallows merges unless you have told `gpg` to trust the public
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key corresponding to the private key that signed the tip of the root. So part
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of the pull request process is getting the puller to trust your public key, and
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you will not be able to pull updates unless you tell `gpg` to trust the key that
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is in the root directory as `public_key.gpg`.
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`.gitconfig` also imposes a whitespace style.
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