steffenkd ·
I like how the game is animated, especially the starting page, with the graph network and that everybody is connected to everybody else over some hops.
And whenever someone breaks trust in this worldwide network, consequences may or may not vibrate and ripple through the whole network and can stimulate a wave of distrust.
Similar to an avalanche, which sometimes starts just with a small piece of snow, but on its way down due to gravity, it can influence other little pieces of snow and the overall amount can grow, till the result is an avalanche (not necessarily how every avalanche is formed, but I hope you get the point).
steffenkd ·
Quote from the book:
Like J. Pierpont Morgan said 90 years ago, '...Character. I wouldn't buy anything from a man with no character if he offered me all the bonds in Christendom.' In a geodesic market, if someone commits fraud, everyone knows it. Instantly. And, something much worse than incarceration happens to that person. That person's reputation 'capital' disappears.
They cease to exist financially. Financial cryptographers jokingly call it reputation capital punishment. :-). The miscreant has to start all over with a new digital signature, and have to pay through the nose until that signature's reputation's established. A very long and expensive process, as anyone who's gone bankrupt will testify to.
(Robert Hettinga, "A Geodesic Society?")
steffenkd ·
I found it a very interesting quote with regards to building trust onto a signature and that the more trust you have built onto that signature the more stupid it would be, to put it all at risk by defrauding someone.
And what CSW said about previous money and that the bills had the signatures of other people on it.
One of the problems of our current system is, that it doesn't have enough memory to store all those "frauds" in a reliable way.
We have systems, but they are being run by individuals. And those individuals will erase their own "shortcomings" and those of their friends out of memory, so that they will always seem trustworthy.
Blockchain may change this, since it has a very large memory and is really hard to cheat and moneypulate.
steffenkd ·
Similar to when you build trust on ebay or another "selling platform", where accounts with zero or few recommendations/interactions are normally seen more critical than established traders/accounts with hundred or thousands of recommendations.
And no sane person would throw away an account with thousands of good recommendations, just to rugpull someone for a few hundred bucks.
Same reason, why the darkmarkets normally establish trust over a longer period of time, till they rugpull, because then they get more out of it.
Or why accounts with many followers which existed for many years are worth something, because it takes time to build up something like that.