Trying to prohibit people from having access to a central bank-backed BlockChain StableCoin because it would siphon demand away from BitCoin (& DogeCoin!) & so lower their prices is really not a...
¨I very much want to be a believer in Web3: in a decentralized, public, right, only database to serve as one of the underlying infrastructure blocks for purposes of guaranteeing identity and providing correct attribution. And I do think that guarding identity and attribution are going to become increasingly important.¨
The key point is ´decentralized´. Why would it be decentralized? If I were to go and buy some fentanyl (I am not buying fentanyl, officer) from dealer with 5 20$ bills, that´s a decentralized transaction using a token created by the federal government and guaranteed by the federal government. (The ´data´ is in the form of special currency paper.) That there´s no formal record of it is the decentralized part. If I have a computer, then centralization is part of the game. If my machine checks and synchronizes the time, it talks to an NTP server that is part of a herd of NTP servers that in turn connect to main central servers, which connect to a server that actually tracks the time... which is run by the federal government. Yeah, my connection to the lower level NTP is decentralized (asynchronous) and there are several asynchronous connections between me and the real time server, but the whole thing is (tah-dah) ´fiat time´. Same drill with name-servers. Same drill with distributing Linux kernels. If I use paypal or cashapp to shift money around, that transaction involves connecting either to an internal or external banking structure that connects to ... the Fed.
I don´t see how a distributed *synchronized* database that is ´decentralized´ actually solves any actual problems in a useful way. If need ID tokens (such as the URLs a name-server is keeping track of), I could just set up a central server that tracks tokens and have that to, in turn, talk to various other servers that use the tokens. (A database with a mere 350 million entries is just not that large compared to say, search engine databases.)
¨But I see no reason why current holders of BitCoin (or DogeCoin!) should expect that the assets they hold will have any role in that future system.¨
Yeah, but BitCoin and DogeCoin are multi-level marketing/pyramid schemes meant to harvest cash for the first movers. The stuff about anonymity, ´digital gold' and hyperinflation is pure suckerbait to fill the hawker´s tent, so the hawkers can get paid. In that context, DeSantis is just engaging in pure elite Republican politics: promising the big donors that the government will see to it they get paid off (maybe even bailed out!) for their current support, no matter how dysfunctional, stupid and/or corrupt the investment is.
Elon Musk is not in the business of delivering good, reliable products, Elon Musk is in the business of taking money from suckers.
Speaking of which, it becomes obvious why Musk re-registered Twitter´s corporate structure in Las Vegas (aside from the fact that Delaware courts are tolerant of his bullshit): the idea that he´s a tech genius who could make Twitter profitable by charging people and having lots of advertisers turns out to be wrong. So he needs a revenue stream. If you take gambling (think ´Trump Casino´), and also through in some crypto that Elon has conveniently already invested in (think ´TrumpCoin´), and then maybe throw in a political donation system for right-wingers, and then add some kind of internal payment system (aside from crypto: think ´TrumpBank´), then you would have an excellent system for monetizing the suckers that seem to think Musk is god. That might in turn, produce enough case to pay the bills... assuming they can do enough code engineering to make it work. (A-HAHAHA...ah-hahahaha... ha ha..heh heh heh. I almost used ´Elon Musk´ and ´reliability engineering´ in the same sentence. BAHAHAHAHA. Sorry, I had to stop and laugh for awhile.) OK, make it work well enough to steadily extract cash from the suckers, at any rate. I´m pretty sure that Trump + Elon fans have the required 44 billion dollars between them and he just needs them to cough it up.
I dunno, this just seems like the same old same old of the first gilded age - that is politicians bought and paid for who turn around arrange the law to suit their masters' need for profitability and all this no less tawdry than that, machines that go BOING and Claremont Institute psuedo-intellectual bloviating notwithstanding.
point to elon - he has managed to beguile enough morons to get tesla back to 193$
Tesla is holding lots of bit coin. Who knows if DeSantis cares? He is pandering to the conservative votes. The entire country really needs a reeducation on money and economics. The topic has really divided the country, on how the system actually works.
"I very much want to be a believer in Web3:"
Sympathies. Not a problem I have, but I can imagine.
Is there anything these scum do that doesn't actually hurt the morons stupid enough to support them?