Talking corruption, technology, empiricism and fairness with the Bitcoin Podcast

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Interview segment starts at 15:00.

Oh man, those guys mumble into the mic. Cory was so much clearer when he was talking.

I had a brief go at participating in the governance process for a cryptocurrency, a while back. It was a forum where the discussion was about how to communally allocate resources from a reserve fund for beneficial projects. It was all Miseans and Austrian school people in there. Naturally, they just hoarded it all. Now the funding mechanism will be scrapped:

The $170 million or so that accumulated in the savings fund will be burned, to increase the value of the remainder, no doubt. I mean, it’s not the first sham in this space, and won’t be the last! Still, it has been interesting to observe the details of the process.

Oh and to be clear, I’m not saying, it’s a sham! They’re scammers! What I find interesting here, is that the sham is the neoliberal economic system, itself. It got reflected, in miniature, almost immediately. They simply didn’t understand the logic of what they were building.

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