Edgar
23.7K posts

Edgar
@EdgarArout
im learning about blockchain
mempool Katılım Ocak 2014
446 Takip Edilen18.8K Takipçiler

@EdgarArout How do you manage emac/vim putting the content at the extremity of the screen ?
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I used to think that the USD is the top boss for Crypto to beat.
But I since realized that's not immediately crucial and by the time crypto is competing with the dollar, it must have already won.
The main (reputable) currency most at risk of being dethroned, imo, is the EURO. Which may also be the first domino to fall in potentially the biggest cultural movement since the onset of religions.
Here's why:
Crypto is a proxy for institutional and government distrust.
At the dawn of the Bitcoin Genesis Block, Satoshi inscribed the words; Chancellor on Brink of Second Bailout. A headline from the London Times of the same day.
Of course, he was referring to the financial collapse of 2008 and the subsequent bailout for banks that mismanaged risk at a colossal scale.
Since inception, the purpose of crypto was to disintermediate the establishment and to be a trustless and permissionless asset capable of replacing modern money and finance.
The only reason Satoshi created Bitcoin was due his/her distrust of entrenched institutions.
Fast forward a decade and a half later and Crypto still serves as a proxy for government malfeasance.
Today it's most widely adopted in parts of the world where monetary and institutional corruption is most rampant. Places like Argentina, Turkey, Nigeria, etc. Essentially where ever currency debasement is all too prevalent.
In those places Crypto is a true flight to quality and a reliable inflation hedge, the majority of which are third and second world countries.
I used to think that would be the primary driver of adoption in the first world as well, but my views have since changed.
I think the primary source of distrust in the first world isn't irresponsible monetary policy (although that's part of it), but instead; government restriction of freedoms and economic surveillance.
In the first world, you are guilty until proven innocent when it comes to your own money and the only ppl who have the resources to combat those controls are the extremely rich & wealthy. (Until now).
The rich have no problem offshoring their savings, finding financial loopholes and obfuscating their asset ownership. So essentially the "guilty until proven innocent" paradigm primarily impacts the average person.
Which brings me to the intital point I want to make. Of all the first world, no other continent is more restrictive on the financial freedoms of their populous than Europe.
Europeans are essentially monitored from the moment they step out of their home to the moment they return and all the while in between. Europe is truly a surveillance state unlike anywhere else.
But those controls are not limited to CCTV, etc. They extend even more broadly to financial activity and economic sovereignty (or lack there of).
In Europe, financial transactions of 1k-3k Euros are restricted and considered high risk. To put this into perspective, that's roughly the equivalent purchasing power of a $100 Bill in 1914 (when the federal reserve was established in the US).
Could you imagine restrictions on how one spends $100 at the start of the 20th century? Keep in mind the hundred dollar bill wasn't even the largest denomination at the time, there were $500 and even $1000 bills!
These economic restrictions in Europe, combined with the mass surveillance that goes with it, are no less than a fertile breeding ground for a shadow free-market economy.
Europeans are among the most technologically literate/aware people in the world as well. It's not so difficult to see crypto adoption truly boon in that part of the world, even among the most marginalized communities.
As financial restrictions increase in Europe, the need for crypto, to truly live freely, increases as well.
Stemming the flow of crypto is literally impossible, even if they were to ban it. It would be like trying to ban information. It's simply not feasible or enforceable.
When it comes to freedom, humanity is like oxygen, or better yet, like light. Through even the smallest crevice, it will find a way through. There is no stopping humans from seeking what they fundamentally have the right to.
One way or another, freedom will find a way.
It may not be immediately obvious, but the trend is clear. The USD is a very well established brand and even in crypto, it has a demanding presence as we price all of our digital assets in USD.
It's the ultimate unit of account and I don't see that changing unless something extraordinary occurs. The network effects are just too powerful.
On top of that, the USD has relatively strong backing. The US federal reserve has significant assets on its balance sheet, mostly made up of mortgage backed securities.
Real estate and land in the US is truly pristine. The US has the largest economy in the world with energy independence and some of the most diverse land as well.
Everything from tropical forests, to dry deserts, to snow top mountains, to the deepest canyons, to the tallest skyscrapers, to the flattest plains, to the lushest terrains. Massive farm lands and all year round harvests. And to top it off, it has a free market economy (or comparatively close to)
On the contrary, Europe is an externally energy dependant continent with limited agricultural capabilities, cities that are more decorative than livable, and composed largely of socialist ideals.
The land there, although rich and diverse in cultural significance, is not truly desirable for ownership. It's more like a large museum than anything.
Indeed it's the place where ppl are most likely to own nothing, "eat ze bugs" and be happy (because they're forced to).
This is why the EURO, which is a multi-country currency that's highly restricted for everyday use and not a common global unit of account, is at most risk of being unofficially replaced by crypto for the average person in an societal adjacent, shadow free market economy.
Crypto is still too small as of today, but that will change with time and it will only become more accessible, not less. Adoption is increasing at a steady scale and the biggest catalyst for an explosion in growth is not some killer app, but the roll out of CBDCs.
If there is a major economic zone, after China, where the CBDC is likely to become a standard, it's Europe.
This imo will be the straw that breaks the proverbial camel's back and pushes crypto to the forefront of average, first world citizens' minds, without speculation as the primary driver.
The path is preordained at this point and Europeans, unlike Chinese citizens, are accustom to freedom and democracy. They will defy their local jurisdictions and seek freedom in a shadow economy, and they will do so in a way that will change the world for ever.
What happens next is uncertain. Will European establishments attempt to crack down even harder? Most likely yes, but the degree to which they are successful, all depends on the merits of what this industry represents.
Which brings me to the final point I want to make.
If crypto represents no more than a speculative tool or a simple currency hedge (like real estate and equities), then it will exist in an economically adjacent shadow free-market system that serves ppl in the most basic forms of permissionless coordination.
If, however, we are able to establish a decentralized movement with digital civil infrastructure such as online educational facilities, decentralized academic platforms (De-Sci) and open pseudo-political assembly, then there is no bound to how large it grows.
A shadow free-market economy will be all but crypto-history as the merits of what it facilitates will be undeniable.
There is after all, a cap on speculative utility. If we really want to take advantage of this revolutionary movement, we need to use this tool for permissionless coordination to truly improve the world and humanity as a whole.
And the best way to increase humanity integrity, is to educate the masses. Raising the intelligence level of humanity is the most effective way in ensuring our freedoms as well.
It's no guarantee that increased intelligence = increased integrity, but it certainly increases the odds, and it also makes it more difficult to corrupt and control people at scale.
Increased intelligence, also undeniably increases sophistication among the educated.
History has not been too kind to less sophisticated civilizations in light of more well-coordinated and more sophisticated ones, which have naturally been better resourced also.
I know what I'm speaking of sounds grandiose, but I don't think it's too unrealistic to think that a revolutionary belief system (and resulting technology) give birth to a revolutionary movement.
We no longer need bricks to build schools.
We no longer need trusted intermediaries and permission to coordinate.
We no longer need established caucuses to politically assemble.
We can now do all those things freely with our current infrastructure.
Imagine an open source movement, the likes of which never seen before, where we have true free market capitalism and fair competition. It is our most promising path to a meritocratic society.
Unironically AI will play a significant role in this movement as well, as yet another invaluable tool for human empowerment.
AI, however needs crypto more than crypto needs AI. That might not be immediately obvious, but soon that will be as well.
As the need for digital authentication increases in an AI world, so will the need for crypto and crypto adjacent tech.
I need to wrap this rant up now and if the things I mention here peak your interests, all that I ask of you is to take the time to learn more about the industry rather than aping the next memecoin in hopes of a 100x.
It can be any aspect that you find interesting, it doesn't specifically need to be the nerdy stuff.
Even brain storming ideas on how to apply tools for permissionless coordination to improve upon existing methods, is a major contribution in and of itself.
We need creative thinkers. We need educators. We need leaders. We need builders. We need lawyers. We need proponents of freedom and fairness. We need determined minds to help push humanity towards a bright future.
And for the first time in history we can all coordinate economically freely and permissionlessly on a mass scale.
Which is absolutely key to truly unlocking our capabilities.
Crypto is already challenging (and clearly beating) established institutions like central banks in third world countries. And soon, for the reasons I stated earlier, it will challenge the a truly entrenched first-world central bank, the ECB.
After that, awareness will be heightened substantially among other existing first world establishments since they will, for the first time, feel genuinely intimidated by our civil economic movement.
And when that happens, we must be prepared with sophisticated organization, assembly and digital-civil-infrastructure, so that we have an unimpeachable foundation that's forged by human freedoms, intelligence and integrity.
Long live Crypto, Long live humanity✌️
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just made our bundle simulations 10x faster so timings are not going to be an issue when we'll be catching the next one
0xprincess@0x9212ce55
bruh we've literally sent a better solution with +20eth higher bribe to all builders for this one I'm so dead
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@jtriley_eth “let’s design a VM that centers around this native asset and then not implement a way to transfer that asset without giving up control of execution” - geniuses designing the EVM
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@EdgarArout can you please elaborate? really curious to learn
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