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Kindle Notes & Highlights
Proponents of Austrian economics include the fringe economics blog Zero Hedge, which has confidently predicted two hundred of the last two recessions.
Bitcoin decentralises things that should not be decentralised, then centralises them anyway but wastefully.
One Chinese “ICO” broke new barriers in market efficiency: you didn’t even need to put your ether into it yourself! Because the “white paper” contained malware that found your Ethereum wallet and emptied it. Now that’s a smart contract.
The purpose of law is not to achieve philosophical or mathematical truth, but to take a messy reality and achieve workable results that society can live with.
This illustrated the final major problem with smart contracts: CODE IS LAW until the whales are in danger of losing money.
The good bits of blockchain are not original, and the original bits of blockchain turn out not to be much good.
Everything to do with cryptocurrencies and blockchains is the domain of fast-talking conmen. If anyone tries to sell you on either, kick them in the nuts and run.
Always ready with a motivational quip, like “if you’re expecting a sense of accomplishment when you finish, you’ll want to stop that.”
