diff --git a/docs/manifesto/social_networking.md b/docs/manifesto/social_networking.md index 2d906e4..97c1b2a 100644 --- a/docs/manifesto/social_networking.md +++ b/docs/manifesto/social_networking.md @@ -707,7 +707,9 @@ private room. The infrastructure proposed in [Anonymous Multi-Hop Locks] for lightning network transactions is also private room infrastructure, so we should -implement private rooms on that model. +implement private rooms on that model. Indeed we have to, in order to implement +a gateway between our crypto currency and bitcoin lightning, without which +we cannot have a liquidity event for our startup. In order to do money over a private room, you need a `reliable broadcast channel`, so that Bob cannot organize a private room with Ann and Carol, @@ -882,8 +884,8 @@ regularly sends them the latest keys. # Blockchains You need a cryptocurrency like Bitcoin, but Bitcoin is too readily traceable. -Wasabi wallet has a cure for bitcoin traceability, but it is not easy to use -that Wasabi capability, and most people will not, despite the very nice user +Sparrow wallet has a cure for bitcoin traceability, but it is not easy to use +that Sparrow capability, and most people will not, despite the very nice user interface. The lightning network over bitcoin could fix those problems, and also overcome Bitcoin’s scaling limit, but I don’t think much of the current implementation of the lightning network. The latest bitcoin upgrade, @@ -1089,7 +1091,7 @@ pressure. We start by enabling discussion groups, which will be an unprofitable exercise, but the big money is in enabling business. Discussion groups are a necessary first step. -## Cold Start Problem and Metcalf's law. +## Cold Start Problem and Metcalf's law Metcalf's law: The usefulness of a network to any one person considering joining it depends on how many people have already joined. @@ -1139,10 +1141,11 @@ And the cold start problem means we cannot directly take over that niche either. But our proposed privacy mechanism means we have a tech advantage over both Bitcoin and Monero - better contract capability than Bitcoin or Ether, because -a snark can prove fulfillment of a contract that without burdening the network +a snark can prove fulfillment of a contract without burdening the network with a costly proof of fulfillment, and without revealing everything to the -network, and without the rest of the network needing to know what that -contract is or be able to evaluate it. Because of its privacy mechanism, +network, and without the rest of the network needing to know what that there was +a contract, what that contract is nor to be able to evaluate it. +Because of its privacy mechanism, Monero cannot do contracts, which prevents atomic exchange between Monero and Bitcoin, and prevents Monero from doing a lightning network that would enable fast atomic exchange between itself and Bitcoin lightning. diff --git a/docs/manifesto/sox_accounting.md b/docs/manifesto/sox_accounting.md index b70f760..e84be7c 100644 --- a/docs/manifesto/sox_accounting.md +++ b/docs/manifesto/sox_accounting.md @@ -118,11 +118,17 @@ was an earthly reflection of the divine scales of justice and the symmetry of Go When the dust settled over the Great Minority Mortgage Meltdown it became apparent that the books of the financial entities involved had little connection to God's creation. -When the books are lie imposed on you by hostile outsiders. you lose cohesion around profit, +The state has been attacking the cohesion of the corporation just as it has been attacking +the cohesion of the family. Modern corporate capitalism is incompatible with SoX, +because if your books are detached from reality, +lies that hostile outsiders demand that you believe, +the corporation has lost that which makes it one person. +When the books are lie imposed on you by hostile outsiders you lose cohesion around profit, making things, buying, selling, and satisfying the customer, and instead substitute cohesion around gay sex, minority representation, and abortion rights. Notice Musk's tactic of making each of his enterprises a moral crusade, -and also of giving them a legal form that evades SoX accounting. +and also of giving them a legal form that evades SoX accounting. Which legal form does +not permit their shares to be publicly traded. To believe the corporation is real, for the many people of the corporation to believe the corporation is one person, the books have to reflect reality, @@ -131,7 +137,7 @@ The Christian doctrine of the Logos gives reality moral authority, since reality is a manifestation of will of God. In the Enron scandal, the books were misleading to the tune of about seventy billion dollars, -in that they creatively moved their debts from buying things on credit off the books, +in that they creatively moved their debts incurred by buying things on credit off the books, and that was the justification for SoX accounting. Which is very effective in preventing people from moving debts off the books. @@ -139,7 +145,7 @@ In the Great Minority Mortgage Meltdown, the SoX books were misleading to the tu of about seven *trillion* dollars, about one hundred times as much money as the Enron scandal, largely due to the fact that the people responsible for paying the mortgages could not be found or identified, and many of them probably did not exist, and many of the properties were not only grossly overvalued, -but pledged to multiple mortgages, were frequently impossible to identify, +but pledged to multiple mortgages, or were impossible to identify, and some of them may not have existed either. It usually said that the losses in the Great Minority Mortgage Meltdown were the result of housing prices being unrealistically inflated, but they were unrealistically inflated because people who, if they existed at all, @@ -159,7 +165,8 @@ the papers in big financial centres far from the alleged location of the alleged The mortgagees did not demand id, because id racist. Much as demanding id is racist when you want to ask voters for id, but not when you want entry to a Democratic party gathering. -Enron's books implied that non-existent entities were responsible for paying the debt that they had incurred +Enron's books implied that non-existent entities were responsible for +paying the debts that they had incurred through buying stuff on credit, thus moving the debt off the books. In the Great Minority Mortgage Meltdown, the banks claimed that people who, if they existed at all, could not possibly pay, owed them enormous amounts of money. diff --git a/docs/proof_of_stake.md b/docs/proof_of_share.md similarity index 100% rename from docs/proof_of_stake.md rename to docs/proof_of_share.md diff --git a/docs/usury.md b/docs/usury.md index c685375..4d61029 100644 --- a/docs/usury.md +++ b/docs/usury.md @@ -2,6 +2,9 @@ title: The Usury problem ... + +# Usury in Christianity + The Christian concept of usury presupposes that capitalism was divinely ordained in the fall, and that we are commanded to use capital productively and wisely. @@ -41,6 +44,8 @@ production. And if things don’t work out, he is free and clear if he returns the cattle or the house. +# Usury in Islam + The Islamic ban on usury is similar to the Christian ban, but their frame is rather that the lender shares the risk, rather than that the lender is charging rental on a productive property. The dark enlightenment frame is game @@ -59,6 +64,8 @@ collect interest on the mortgage, but then there is a housing slump, the mortgagor returns the house in good order and condition, but in the middle of housing slump, the mortgagee is sol under the old Christian laws, and the mortgagor, though now houseless, is free and clear of debt. +# How everything went to hell + Well, lenders did not like that. They wanted their money even if things did not work out, and they wanted to be able to lend money to someone to throw a big party, someone who probably did not understand the concept of compound @@ -68,6 +75,8 @@ And the Jews of course operated by different rules, and Kings would borrow from the Jews, and then give the Jews exemption from the Christian laws, so that they could lend money against the person to Christians. +## Term Transformation + And then, things got messier with fractional reserve banking. People want to lend short and borrow long, borrow money with fixed schedule @@ -94,6 +103,8 @@ start using banknotes as money, bits of paper backed by claims against real property, if the lending is more or less Christian, and claims against real people, if it is not all that Christian. +## Leading to fiat money + And then, one day it rains on everyone, and everyone hits up the bank at the same time for the money they had stashed away for a rainy day, and you have a financial crisis. @@ -108,6 +119,8 @@ government notes backed by claims against taxpayers. And here we are. Jewish rules, fiat money. +# Cryptocurrency and Usury + Well, how does cryptocurrency address this? It is backed by absolutely nothing at all.