152 sats \ 9 replies \ @wopwopwopwop 10 Mar \ on: Fred Kreuger -- The math and CS behind Bitcoin bitcoin
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Disclaimer: I'm a boomer :)
I hate to come across as defending this guy, but I heard him make the comment that you linked from Twitter. His point was that boomers like us used real estate to combat the depreciating dollar. He is saying that young people have an even better opportunity now- buying bitcoin so low. Many are not taking advantage. I can't disagree with that.
My knock on the guy is he feels it's inevitable that Wall Street will co-opt bitcoin, and we should all just accept it. I don't want to accept that.
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Sounds like you and I have similar concerns. The word co-opt was mine. Kreuger's attitude is basically "you guys had fun with your nodes and hardware wallets, but the grown-ups are here now." I opposed ETFs for this reason, not that it mattered. BlackRock will soon control more bitcoin than any other entity soon. I share your concern regarding devs getting controlled by the "grown-ups."
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Great reply. Thanks.
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but if people think the software can't be changed because distributed social consensus, I can point to a thousand things that changed because of distributed social consensus.
Under-rated point. The entire bitcoin ecosystem depends on understanding this point, in fact.
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The terrifying nature is that because it happens slowly, it is not a visible threat on most peoples radar.
Just saw the new Dune movie, and this makes me think of the cool way Frank Herbert made it so you could still have sword / knife fighting in this future universe: there's a shielding tech that soaks up plasma weapons, and things that move quickly like projectile weapons. So what's left is kick-ass hand-to-hand combat. Nice hack.
Maybe there's a similar kind of 'attack' like you describe -- slow enough to get past the shields of more kinetic assaults.
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Fair enough. I am going to try to look into his background a little more. He claims he knows the person who invented the idea of proof of work in the early 90s. He might be the real thing, but he does brag and name drop a lot more than I would expect from a guy like this.
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