Author of PonzICO white paper here (proof: https://keybase.io/cin )—thank you! Still optimistic about cryptocurrency but the impending ICOpocalypse does not bode well for anyone in the space...excepting satirists I suppose. ;)
Great to see your reply. I only came across your paper a few weeks ago, through fortuitous circumstances:
A very smart but non-engineering friend of mine was asking about cryptocurrencies, and - in trying to explain why i think ethereum's "improvements" over bitcoin are anything but - I directed him to read about The DAO.
He promptly rabbit-holed and came up an hour or so later with your gem of a paper.
So ... nice work! A sanskrit professor found, understood, and thoroughly enjoyed the paper. And then hipped his programmer friend to it :)
re: blockchain differences: I hear that Ethereum is planning to move to proof-of-stake, rather that proof-of-work, but I don't have an opinion on that. There may be other salient differences I'm unaware of.
It's the 'smart contracts' that I think are foolish.
Replacing the legal system with code only makes sense if all of the following obtain:
(a) the code is 100% bug-free (b/c accidents cannot be rewound)
(b) all code-writers are 100% honest (their code does what they say)
(c) all contract participants are 100% perfet code readers (so as to not enter into fraudulent contracts)
(Strictly speaking, only one of (b) and (c) needs to be true).
And even then you haven't really replaced the legal system if you are dealing with any goods that exist outside of the blockchain, since no matter what the "smart contract" code does, those ultimately need to be transferred outside the smart contract system and subject to the legal system.
(And, actually, even transactions entirely within the blockchain may trigger legal consequences, so even for them you've merely supplemented, rather than replaced, the legal system.)
Good luck in buying the Tesla with all the profits, certainly put me off investing (and my dream of buying my Tesla by Christmas with the profits from my $1 investment)
Fun fact: I got an MBA and was one of the first cohorts of a new curriculum, which required an ethics course. Hilariously and sadly, some 20 students were put on probation for CHEATING in ETHICS class.
I think that was the moment I realized I made a $100,000 mistake.
It's important to consider the pros and cons about the Founder's Reward with Zcash, and I appreciate you trying to start a discussion, but I just wanted to clarify that your numbers are slightly off.
20% for the next 4 years goes to the "founders" (which is not just the developers, but investors as well). But much like Bitcoin the total monetary base is fixed at 21,000,000 ZEC. And also like Bitcoin, the total mining reward is halved (roughly) every 4 years, and consequently decreases exponentially until it reaches that total reward.
Effectively, this means that the Zcash Founders Reward doles out 10% of the currency to the investors/early development team over the lifetime of the currency, and in many ways mirrors a startup vesting cycle of 4 years (minus the one year cliff). Their blog goes into more detail about the reward here: https://z.cash/blog/continued-funding-and-transparency.html
Personally, I think this reward distribution is a significant improvement to the "premine/ICO" antics you see in many other cryptocurrencies/tokens, even if I think it's a little high. I applaud the team for trying something new/seemingly more fair.
(Also, not affiliated with the team, just a cryptocurrency nut: http://keybase.io/cin)
The amount of perverse incentives it creates is insane. Instead of investors being forced to slowly accumulate ZEC, they are given it almost in bulk, and are in a perfect position to manipulate and short the market.
As someone who works at a Bitcoin/Ethereum company, and has passionately followed Bitcoin since 2011, every time I hear "blockchain" as a proper noun a piece of me dies inside. It's like saying "This Is Your Company on Website."
[un]fortunately this is no longer the case in the blockchain/vc world, which is the main reason you don't really hear much about new blockchain/bitcoin (or some other crypto) companies popping up and getting funded.
These days the blockchain world revolves around large companies(or groups of companies) setting things up for internal consumption and consulting companies trying to get in on the action to help those large companies with the setup.
I dunno. To someone like me who is all up into Bitcoin but not too serious about it, it sounds okay. Faddish, but okay.
I think the crucial distinction is whether you're pointing at an approach versus some specific implementation. 'Blockchain', as I understand it, is a particular approach that isn't linked to some particular instance.
"Your company on website" doesn't work because there's really only one 'web'. "Your company on Facebook" does work, as does "Your company on SCRUM/NoSQL/AOL/Mobile/etc."
I'd prefer "on a blockchain", personally, but "on blockchain" doesn't strike me as too egregious.
Maybe you could say "This Is Your Company on Web", which could imply plenty of things made possible by web technologies, like remote, distributed teams and cheap cloud infrastructure.
Only Mac and Linux coders; Windows coders can't wear jumpsuits to work ;)
Seriously, money trails are easier to suss out nowadays contrary to popular belief. At least in the past you needed to make lots of phone calls, write letters or get out of your seat to have F2Fs with potential leads or leaders. Only thing easier nowadays if you have cash, you can obfuscate with stubborn deniability and lots of lawyers. With all of the supposed anonymity with bitcoin they got to the bottom of Silk Road, didnt they? Family of the PM of Malaysia should be easy. I live in SE Asia, and this is par for the course in some more than other countries here.
True that, which is sad, because charisma can legitimately lower the difficulty of understanding complex ideas; think of your best teachers/favorite professors. I wish TED was filled with more Richard Feynman (charisma * ideas) and less Tony Robbins (charisma % ideas).
I'm not sure that Feynman is the best example here. In fact, in my experience, he's actually more of an example of the problem than the solution. While Feynman does a great job of explaining concepts if you never need to use them, I always found his lectures to be of the "captivating until you try to use them" variety.
This wasn't just my experience either -- after struggling with this as a physics undergrad for a while (after all, they're supposed to help!) I started asking around. My academic advisor, several other professors, and many students felt the same way. Feynman may get closer -- or may do more to bring common understanding to complex principles -- but his approach broke down for actually learning to /do physics/.
But I'll agree that he's a major step in the right direction; I just want to caution against the hero worship. There's no magic formula, no one person, who can make learning complex concepts easier. Some things are hard, and trying to make them seem easier can easily make them more confusing in practice.
That was a fantastic post, thank you for sharing. Ironically, while affirming the view I held above, it also makes me think I should -- maybe -- give them another chance now that I'm well along in graduate school as opposed to a struggling undergrad.
I think you should. I had a similar experience with Feynman. Who spoke with assuming a certain level of familarity but with an engaging style that let your brain skip right over what it didn't really understand. Re-reading his lectures on physics and the papers on computation, post college, was a much deeper experience than reading him in High School. Even though I enjoyed both times tremendously.
Robert Leighton: "Feynman has a peculiar property, which is that at the time he's explaining something, it appears very clear and transparent--you can see how everything fits, and you go away feeling very good about it, as if, "Well, there's a lot of loose ends there that I want to follow up on; but boy, wasn't that great!" And about two hours later, like what they say about Chinese food, it's all gone and you're hungry again. And you don't remember what happened.[0]
I have read his QED book many times and I experience the same clarity when reading as you mention. Then later I lose that and am able to re-read it with the same enthusiasm I had the first time. So that property does have its advantages. (grin)
BTW, I have this same experience with many other science books for laypeople. It is very possible that I do understand them while reading but then I am unable to remember the complex thoughts.
Perhaps I'm nitpicking but charisma gets people to listen, that's it.
It is not related to the quality of the content.
The problem with Tony Robbins is he's mister positive and only focused on personal improvement. These are enormous constraints that ignore the bigger picture.
Feynman is great at explaining physics because it's not wishy washy - it is also really not that interesting past the cute basics, sooner or later you have to put in the hard work.
TED is fundamentally flawed because things worth knowing - cannot all be politically correct and positive.
Once you constrain yourself to being Mr/Ms Positive only, you end up being a delusional asshole because you are denying a big chunk of life any attention.
There is no fixing TED as a result - it's more interested in money than truth.
As are most people, hence why we are where we are :)
My friend paid $5500 to go to a Tony Robbins seminar in Florida last fall- in addition to flights from SF, hotels, food, etc. She walked on coals and got to take some cool selfies with various people. When she came home, she was 7k poorer and I asked her what they talked about. She raved about the "experience" but didn't seem like she'd garnered any real insights other than to be positive and the same old The Secret garbage of visualizing the life you want. imo she should have used that 7k to chip away at her 60k debt in student loans.
I view Tony Robbins as a mystery - because I just can't quite figure him out.
He's rich so he doesn't have to continue. He seems genuine.
And yet, his overall message seems to largely be 'YEAH, YOU CAN DO IT! WOO!'
Just take massive action baby! Baby steps, start small, build, iterate, you can do it!
I am still not sure what the content is or if his presentation is a massive distraction.
That I can't quite tell what his overall point is worries me, and yet I can't believe that he's full of shit. So he's trying to do a good thing, he is succeeding in terms of money but maybe not so much in terms of actual results...
I don't know, Tony is a mystery remaining to be solved.
Those going to his seminars - I think they're just misguided. The steps to fix your life are not at a seminar, they're in improving your life, one step at a time. It's a life decision to strive for excellence. If you haven't come to that point and you're 30, it is probably too late.
If you have come to that point and you're 30, you don't need Tony's help.
So who's he really helping but the blow-hards who want to be 'inspirational' like him?
He's rich so he doesn't have to continue. He seems genuine.
I don't think the fact that he is rich and continues to work lets him off the hook. He may have simply deluded himself in the course of his touring. I think the thing we should challenge him on is whether or not he's thinking critically about what he's doing with his life. Indeed, this is what we should all be challenging ourselves on.
Self-deception is an extremely easy trap to fall into. The fact that it could happen to anybody is the reason we shouldn't let people off the hook for it. In my view, the way to truly respect somebody as a human being is to be willing to challenge them when you believe they're committing self-deception.
The self-deception is that part that I haven't figured out.
I can't put my finger on what's really going on there, because I am brutally honest with myself. At the end of the day I know why I'm doing what I'm doing.
Are they delusional without being aware of it? Do they deep down know they're full of shit?
Are they hurting inside because they can sense they're full of shit but justify it to themselves that it's 'helping others' and all that?
It's like those fundamentalist religious folks who talk shit about gay people and then get caught with gay sex workers. Are people who seem goofy all like that? They know they're broken but can't help but keep the charade going or is there something else going on?
I can understand why a dude who's been a pastor his whole life has trouble letting go. That's where I imagine people who got rich off of being full of shit at some point go 'ok I'm done'.
Kind of how Bill Gates quit Microsoft and let his wife run his life, because she's not a piece of shit like he is. He had the self-awareness.
Trump seems to still be playing the game. Is it just raging ego-maniacs when they're rich? They just love the bizarre ego tripping they're involved in? I honestly can't fathom what goes on in there.
> I view Tony Robbins as a mystery - because I just can't quite figure him out.
The same is true for typical internet marketer stuff "I teach you the secret to start your own business".
Once you're on the hook, it becomes about them and not about you or your goals anymore. Now you wonder if they truly possess that secret to a better life they claim to have.
You try their stuff, read more, buy more and always wonder if it's their process that's flawed or merely your imperfect execution.
This is just an opinion so take it for what it is: Tony Robbins is a blowhard, unless your goal is to be a blowhard, he's probably not the best source of inspiration or advice.
Programmers are almost nothing like him, being so confident about things you certainly can't be that confident about, requires being delusional to a considerable degree. As long as enough people buy the shtick, everything is fine.
With programming, it's not like that, you need to be good beyond convincing others that you're good (that seems like the primary difference between people-skills and real-work skills)
So I don't know, I mean, if it's not broken don't fix it, but I'd be genuinely concerned for anyone thinking the way to their happiness and peace is predicated upon TAKING MASSIVE ACTION YEAH!
A friend of mine did the same seminar, the thing that you get is positive belief in yourself to conquer anything. This may wane, but if you are down on yourself, Tony Robbins will turn you around.
This is exactly my thoughts on what's wrong with TED.
It's not in the pursuit of the truth. Therefore, it's in the pursuit of status.
You can see this among those who wave around TED talks they have seen as some kind of currency. "Oh have you seen the TED talk about Y? It's so amazing!"
But also, by their nature, the talks cant dive deep. People are there to be amused and kind of learn, but real education is difficult. TED isn't difficult.
Their manner of speaking reminds me of American Dad making fun of Ira Glass. Why is pausing??! Doesn't he know what he's going to say next??? AAAAHH. https://www.youtube.com/watch?v=qUvQdoOEDGw
is that he's peddling dangerously wrong beliefs to gullible rubes.
A coworker came back from one his events telling me all sorts of fruity crap. Like how the germ theory for disease is bunk. So apparently I gave myself cancer with negative thoughts (blame the victim).
That flipped my bozo bit for Tony Robbins.
I love gifted, charismatic, motivational speakers. Sometimes called leaders or actors or politicians. But they shouldn't profit from causing others harm.
https://ponzico.win
The real fun is the whitepaper (some of my better work): https://ponzico.win/ponzico.pdf
But yeah, PonzICOs are turtles all the way down.