Truthcoin site/blog
Democracy needs some tune-ups, to reach its full potential. Pieces of Democracy “Democracy” consists of many “puzzle pieces”. Mankind has already found some of them: Rule of the people, by the people, for the people. Periodic elections – to remove bad politicians without violence. A focus on persuasion – and on the consent of the governed. The secret ballot – minimizing coercion (and retribution,…
A. Summary Blockstream’s 2014 paper Enabling Blockchain Innovations with Pegged Sidechains may have inadvertently been the largest setback in the history of Bitcoin. We still suffer under it, today! It contains a disastrous section – 4.3 – which has crippled the Bitcoin intelligentsia ever since. It probably set Bitcoin back 10 years (or more), by unfairly maligning the sidechain – Bitcoin’s most…
Part 9: Misconceptions About Democracy This section is somewhat redundant (2,800-words), so I’ve placed it into a pdf . Part 10: Competition, The One True God Think of all the mistakes made – by everyone – every day, everywhere in the world, throughout all of time. All the mistakes. What if we had the power to turn each mistake into a blessing ? The worse the mistake, the greater the blessing.…
Part 7 – The Ideal Democracy If we were designing a democracy from scratch, what should we do? I’ll tell you! A. The Core Ideas Only two “official” parties are allowed – formally ban the rest. (Again, this is not to restrict choice, but to concentrate the resistance into a cohesive team, and maximize the threat they pose to the ruling party.) The actual ballot, is just a “thumbs up” vs thumbs down…
Parts 5 and 6 cover some “details”, about democracy. You can skip to Part 7: The Ideal Democracy if you are not interested. Source . Part 5 – Districts (Electoral College, Gerrymandering, Apportionment, Etc) Our votes sometimes get counted up in strange ways [gerrymandering, electoral college]. Furthermore, “apportionment” – ie, the “voters per politician” ratio, or “seats-to-votes” ratio – vexed…
Part 3: Why Two is the Optimal Number of Parties Our two-party system often fails us – its gives us two bad options. A common reaction to this, is: let’s add more options! Image credit A. Intro / Summary After all, they can’t all be bad. Eventually, just one good candidate will sneak past the first filter , onto the ballot! Then – we’re all saved! We can all just vote for that good one . This…
Intro I don't care who does the electing, so long as I do the nominating. -Boss Tweed, Tammany Hall (c. 1870) What type of government is best? Well, “democracy” – of course! But that is too vague. The world contains many “democracies” – each different from the next. “Majority rule” is the norm in formerly-British countries, but “proportional representation” is used in Continental Europe and Latin…
Intro Bitcoin is having trouble correcting some of its mistakes. I call these “derangements” – the scar tissue that won’t heal properly. Scar tissue is key to answering the all-important question: will Bitcoin win? Or lose? If scar tissue is low, then Bitcoin will win. It can coast its way (to victory), on network-effects alone. On the other hand, if scar tissue is high , then Bitcoin is probably…
Summary The optimal solution for mining decentralization is (what I call) “EDAC Pools”. These are pools which are: EDAC Description Efficient Not wasting any money/resources. Detachable Can easily switch pools (ie, “detach”). Accountable Any mistakes are noticed. Competitive It is easy to compare (and rank) pools. Motivation In the previous post , I detailed how “Mining Centralization” is a fake…
Summary Mining has always been perfect . This is in part because it is so perfectly designed. But it’s perfect in practice, too! Blocks are always found, roughly 1 per 10 minutes. Transactions have never been censored. There has never been a large reorg. Bitcoin’s miners have never misbehaved – ever. So, why do people view the miners with such… hostility? Or concern? Why do they concern-troll , so…