Analyzing Ethereum, Bitcoin, and 1200+ other Cryptocurrencies using PostgreSQL
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I've made a transcript. I'm honor to post this here. This quote needs to be share far and wide. I hope you'll agree after reading it. Where the Internet and blockchain technology can take us as a society, where every transaction you do is settled on a blockchain, where every dispute that you have is resolve on a blockchain, where your reputation and your identity are management on a blockchain, where you're voting happens on a blcokchain and where all laws that you agree to follow, you sign to, and posted it on the blockchain.
Whenever you go to do business with someone you bump your phone together and it verifies that you got compatible arbitration agreements automatic and we make that purchase you've got a signed record, a signed receipt of what it is you're buying and what terms you agree to.
So you've got these verifiable provable signatures, you got built-in arbitration, you're only held accountable to your own laws. Every member of society can be bonded by posting a bond on the blockchain in security against your compliance with the laws that you agreed to follow and all this stuff can be done on an entirely voluntary manner that does not depend upon initiating force or violence against anyone, can be done on entirely legal way because it only depends upon free speech and voluntary association.
So I can envisioned up the blockchain technology will allows us to create a world where the forces that incentive for being part of the bitshares community, of the blockchain crypto-community, the eficiencies you gain are so strong that your profits are so much higher that being rejected or shunned by that community forces you to do with people outside it.
People who have to charge higher fees require security deposits for your utilities, for your rent, for every thing under the sun, because the cost of doing transactions, the cost of doing business outside the system would be higher thant the cost inside the system. So I see this creating self reinforcing virtuous cycle where the more people that join and participate and start doing commerce entirely on a blockchain merchants and consumers never having to leave back to the fiat world.
Those start to see a growing snowball effect until it gets to a point where no one dares be a government official because they would be be excluded, because they would participating in the initiation of violence against others. So these things are possible. I would say that the thing that differentiates me from a lot of other people is that I don't give up on finding a solution.
I believe a solution exists. I don't believe that violence is a necessary response to violence, that we must create governments or to have law and order.
I believe that good people don't have to resort to bad things, just because bad people exist and I'm not going to rest until we figure out and solve those problems. If you have the faith and you're willing to not give up until you found a solution then you will find the solution. People didn't give up on flying until they figured out how to fly. Now we fly all the time but before people flew, people said it was impossible. Well today people say it's impossible to live in a world without a government backed by violence and I say don't give up.
Instead join us and help us innovate the solutions and adopt them. It does matter what it is, whether you worried about pollution or child abuse or roads and highways, all these things that people act it up, well you need the government for this that the other thing.
Don't give up we can find a solution. Dan you're a genius. Though I knew from the start, bitshares and DPOS were revolutionary, this quote blew my mind and really inspired me on so many level when I heard it back in I won't go into details about all the other reasons as to why but I'd love do so in a future post.
Tomorrow I'll be posting about bitcoin and why and how bitcoin and blockchain technology will and are changing the world. I know this has been done countless times but I really believe I can truly bring something a lot more meaningful and powerful compare to what we're use to see and read.
The platforms built by dan are all founded in one common theme, how to best serve a community by developing and releasing free market solutions to secure life, liberty, and property rights. This highly philosophical viewpoint is very often misunderstood. While dan 's products are outperforming every other blockchain in terms of security, scalability, speed and fee-costs they don't get the attention they deserve.
Sometimes in this world, it takes a lot of time to recognize true brilliance for what it is. Some artists have been labeled geniuses in the present while being despised in their lifetime. This is my favorite part of Dan's transcript and rightfully so. When a person thinks about cryptocurrency and blockchain technology, the first thing that comes to mind is that every system is decentralized and connects people as individuals away from governments.
This couldn't be further from the truth. In the POW proof of work structure, every miner is fighting against one another to be the first to solve an algorithm to get the reward. They have no duty to others, and you will never meet the ones you pay hefty miner fees to. If I remember correctly, the majority of miners are warehouses large- Controlled by select groups and people who can afford to run the hardware required. Even in POS proof of stakeThose who were able to afford enough stake in coins from the beginning to qualify as a node holder are the only ones permitted to profit.
Both systems are heavily flawed, and put the wealthy at the top and otherwise have everyone fight to collect fees. DPOS decentralized proof of stake does solve this. You can be voted in or voted out based on your deeds and your own contributions as a human being to the blockchain. Transaction fees had to be added on top of miner fees in the POW system to make it work. In DPOS the is no block reward because witnesses are scheduled to produce blocks.
The more I look into it, the more interesting it gets. This is a model in which everyone benefits greater from working together, without having value bleed out from fees. This game in a sense is considered "free to play". In Dan's vision, a person doesn't need to resort to violence or deception of others to "get ahead" in their own lives. If you have money it's cool, but if you don't have money- it's still cool, as long as you want to do good for others.
Technically anyone can participate. The richest have an advantage but that's in everything and Bitcoin is no different but as opposed to Fiat currencies the creation of new money isn't free. In some POS coin the requirement to mint new coin are negligeably low.
The issue is that those node aren't specialized nodes but those nodes are the computers where the staking wallets are located. To keep the requirement low, the have to keep the number of transactions per seconds low. These are the advantage of delegating the staking process, if everyone who owns Steem would have to operate one of these nodes Steem would be unsustainable because those nodes cost a lot of money.
The way that you explained DPOS is that the power can be shifted around to the best benefit of the network! I didn't know that it takes that much RAM to run nodes on Steemit. You're right, it would be a big problem if only parties holding x amount of STEEM could run them—doing so would limit Steemit's capabilities and make 3 second transaction times impossible to implement.
The more I learn about why Dan sets things up the way he does, the more I appreciate his, yours, and others humanitarianism c:. We can live differently if we want it badly enough, and the deep mistrust in all the old Institutions - government, media, fiat money - suggests that people are hungry for change and ready for a peaceful ideological revolution.
There came a time when the risk to remain tight in the bud was more painful than the risk it took to blossom.
Thanks for this; it's still very relevant today; and I'm glad I found it, I like to show friends and relatives what I'm doing, and a vision for the future. They have such a difficult time seeing the future we all do!
I do believe it has to be visualized and actualized, and these are very specific things some people are born to do with their lives; very special people That's what makes you so awesome. Thanks for the share, I'm really glad I read it Well, I only transcribe what Dan said so most of the credit goes to him but I was still pretty cool 2 years ago and this whole thing goes back even longer if you ask me. I never thought anyone being able to be so convincing and inspirational.!!!
This post gave me goosebumps Bad guys have always been there since the time was envisaged and there were always good ones who resisted and never gave up Really need to go back I guess the couple of posts I have listed on my latest post is more than enough. I always try to re-clarify my previous statement in my latest post. It's still a work in progress. This sounds a lot like libertarian ideals and my question about that philosophy is who is going to take care of the disabled and the elderly if we have no government?
Otherwise I love it. There is an old Biblical verse that states, "Where there is no vision, the people perish". Indeed, in a world imprisoned by force, overwhelmed by corruption and violence, and on the brink of destruction We desperately need Vision. But vision is only the first step. Action must be taken.
And thank God people like Dan Larimer have taken action. I believe blockchain technology is the one best path to follow to sanity, to a possibility of living in peace, to the paradigm of sustaining and encouraging the individual through cooperative effort.
My heart groans in deep sorrow when I consider the burdens of war, genocides, poverty, slavery to evil states, and diminishment of the human spirit heaped upon us by those who use humanity to sustain their dominion over us. As a Steemian I have a vision of what is possible: Not just abundance of wealth, but of heart, of music, of art and all manner of creation. Now is the time to create this new paradigm, this new reality, this new world of Light.
Let us be truly free! We have come a long way since then. We have proved what we can if we set to act. A never ending fire has been got ignited. You made us all to be a part of how you wanted to see this world. Much respect to you from this part of the world. I vow that I will take every possible step to make this great vision grow further! Wow, This is truly a revolutionary and amazing idea that Dan has. However, since this idea is so revolutionary, it will meet with several obstacles along the way.
As of this writing, according to CoinMarketCap.
