This profound “unclarity” that you have after three years of trying to get it is profoundly disturbing. Internet protocols like TCP/IP and HTML were clear and easy to understand for those who dug in and tried to understand. They were discernible. The level of confusion or obfuscation is very high. I would love to see you get to the white board and explain how you think it works. If we can’t understand it it IS NOT REAL and should not be trusted or bet on as a new technology nirvana. I also thought of another analogy. there was LOTS of “diversity” in financial instruments prior to the 1929 stock market crash. It took out a lot of people and a lot of savings and a lot of value. The reason we have the regulatory environment we have today in the financial sector is BECAUSE of the inability of these markets to actually function honestly and reduce risk for people instead they took down the whole economy. This continues to happen in our social-technical-cultural system. The Junk Bonds stuff from the 80’s. Subprime mortgage housing crisis. My impression of many schemes being put forward in bitcoin land feel like they could take people off these types of cliffs. A cryptograph expert in broader identity community (many of you know) who I have talked to about bitcoin have been clear they think it is a ponzi scheme. - Kaliya
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