I told you to buy ARK look at those doji signaling that comeback

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Anonymous
2017-06-03 06:42:55 Post No. 2271440
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Anonymous 2017-06-03 06:42:55 Post No. 2271440 [Report]

I told you to buy ARK look at those doji signaling that comeback from a weak handed bastard's loss.
In fact there are some rather disturbing possibilities in this model. The most commonly
expressed application for these new distributed ledger technologies is to replace the function
of a centralized clearing house, with a consortium of n-participants where n is 2,3,4,5,10
known permissions controlled participants who will assemble transactions and sign them rather
than compete through market forces in a security bottle like Bitcoin, we discard currency as
the underlying mechanism for building market based security, we discard proof of work as
"wasteful," because all it allows you to do is decentralize secure and neutral censorship
resistant blockchain and we trust five named parties to sign transcations at that point they
don't need to assemble these transactions in blocks they can just sign the individual
transactions, they don't need to chain them together because absent proof of work and a system
of currency incentives, rewriting that is easy there's no immutability, so it's not a
blockchain anymore because there's no blocks and there's no chain. Now that's at a technical
level, but let's look at the more important level. What do you achieve by replacing a clearing
house with a consortium of players? You know, there is something unique a clearinghouse does.
If you understand the role of a clearinghouse, one of it's most important functions is that it
is not a participant in the market, it has no skin in the game. The NYSE is not an active
trader, that's not an accident, that's called separation of concerns.

Anonymous 2017-06-03 06:43:48 Post No.2271451
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Anonymous 2017-06-03 06:43:48 Post No.2271451 [Report]

The clearinghouse is an
independent party with oversight that is not a market participant. If you take that party out
and replace it with five banks, all of which have skin in the game, how do you run a consensus
algorithm when the incentives to cheat, frontfrun, manipulate the market, and break the
consensus rules even adversarially against the other four parties are so high. There's no
incentive to keep the consensus rules. All you are doing is you are saying is 'trust us, we
are in a consortium.' /i trust us? /i These five banks? Where were you in 2008? Where were you
when Lieber was fixed? where were you when the gold markets were fixed? when were you when
front running and high frequency trading was creating these /i monsters /i of crony
capitalism. /i trust us? Hell no. /i Removing the clearing house and replacing it -- what's
the word -- it's not /i consortium /i, /i cartel /i, that's the word. With a cartel of the
same market makers who have manipulated and compromised every market in history and doing that
in a way that closes this from transparency. That's not a recipe for efficiency, mutability,
security, transparency, that's not a blockchain, that's a bullshit, it's a very profitable
bullshit. It requires you to have confidence in the game, a con-game, as it's known. Be
careful what you evaluate when you see these technologies taking something whose fundamental
purpose is to remove trusted intermediaries and create an open borderless neutral system and
turning it into a tool for a bunch of untrustworthy trusted parties to manipulate markets
is going to be a disaster and there going to do it.

Anonymous 2017-06-03 06:44:54 Post No.2271468
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Anonymous 2017-06-03 06:44:54 Post No.2271468 [Report]

I have some consolation in the fact that
there keys will leak. Because when you centralize a system you have to keep the security of
those five keys and none of them have ever managed to do that. All of the companies involved
in this business-as-usual-space have hacked, breached, leaked, whistleblown a dozen times.
They can't keep information secure, no one can. The whole of a decentralized blockchain is
you don't keep the information secure you spread it out so thin there's no place to attack
it directly. That's what makes it secure. So what happens when you concentrated among five
participants? I can't wait until the anonymous wikileaks collaborative dump of the titans
of wall street and their ledger of every transaction they've ever done.
Now go look up ARK and read and read and read and realize like I that this coin is no bullshit.