Bitcoin
$3,640.70 0.16%
BTC · 36w

Second Echelon of Attack by the Establishment

The first wave of establishment’s counter\-attack on Bitcoin and crypto was like “hey, you’ll be better off trusting us, as usual”. Tactics were evolving from “crypto is criminal, beware!” to “look, we also got blockchain!”. Apparently, the strategy has failed. Since recently, one can sense quite different types of raids. Once it became clear that the monopoly on trust is not recoverable, it is now advantageous for the establishment to destroy trust altogether. It is an illusion they can’t go without trust, in the situation where nobody trusts anybody. As a matter of fact, it is very profitable but only for a very narrow strata at the top. The complete status quo is not possible to save but partial one can be preserved, at the cost of radically increased inequality. The classic [pirate game](https://en.wikipedia.org/wiki/Pirate_game) describes this well. Crypto today is NOT the solution to trust and the sober part fo the community doesn't claim so, crypto is THE PATH TO EXPERIMENT and develop the solution. Before everyone “has crypto” in some form, no new business or social model can work. Uber became possible AFTER we all got GPS sensors in our pockets; Amazon become possible AFTER we all got our homes connected; etc. So why we keep hearing complaints about "no killer app, ten years in"? The formal extensions to the pirate game are very interesting but you will have even more fun by reading them together with the [rich people being more unethical study](https://www.pri.org/stories/2012-02-28/rich-people-more-unethical-likely-cheat-and-steal-study-finds) \(and, yes, testosterone levels [aggravate](https://www.ethz.ch/content/dam/ethz/special-interest/gess/chair-of-sociology-dam/documents/sis2016/slides/SIS2016_Slides_Raub.pdf) that!\). Trust is broadly, hugely misinterpreted by incumbents! For example, aversion to the economic risk \(losing money or opportunity\) has been proven to be [lower](http://www.cs.cmu.edu/~wing/publications/Gligor-Wing11.pdf) than av...
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