Monday, March 14, 2016

Bitcoin

 There's been much about bitcoin over the past few years. I'm hearing less and less about it. There is, of course, this point made over there at crookedtimber.  I know too little about digital currency to add much to the discussion. It would seem that many say that bitcoin's weakness is its limit on how many can be out there (the gold-bug aspect of it).


I would say the main strength is that it has technical constraints that are not to be trifled with by political expediency. Or is it? It could be that the constraints are not valid or worthwhile and one would need new ones. Nevertheless, the idea of any human system having a technical constraint I tinkered with when writing Labyrinth. Of course I envisioned something like an AI playing out all possible scenarios and from there choosing the best rules (with overall utility for humans maximized). Would this ever work in real life? I would have to think that sooner or later it has to be better than us apes working on the same problem.

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