Implication Logic
Before we get started.
Yesterday I talked about the Silicon Valley Bank collapse and how they had too many "bonds" and "other safe investments". Turns out what they actually had were mortgage-backed securities. This is why everyone got so triggered and called it a repeat of 2008. Rest assured that these mortgage-backed-securities are nothing like the overleveraged ones that caused the 2008 financial crisis.
When set up correctly this kind of investment is usually quite safe... of course they still went bankrupt... didn't they? Still, the contagion everyone is talking about isn't going to come from SVB and we should be more worried about other systemic risks to the economy like the FED continuing to raise rates and newbie bankers having no idea how to hedge against the war on inflation.
https://www.tiktok.com/@hankgreen1/video/7209421596124007686?lang=en
Hank Green is a pretty smart guy.
Even though he's an insufferable optimist and perhaps even a bit gullible it's still good to have him around to balance out all the crazy that I spit.
222,430 Hive Confirmed (including delegations).
Oh hello phat stack of Hive.
That's right! I've done it! I've acquired more Hive than I ever had before by 12k. My last all time Hive was 210k on January 6, 2021 during the double airdrop for SPK and Ragnarok. Hive was trading at $1.40 at that time and my account was worth $300k. Ah! The good ol days amirite? Wen moon?
I do have a bit of a tendency to rage-buy Hive and power it all up when it crashes like this. Perhaps it's a coping mechanism! Whatever the reason, I do not care. More Hive for me.
Powered up 25k for good measure.
I did the maths and it will only take 2 weeks to unlock 26k Hive if I need to make it liquid again. Should be fine considering I'm not looking to sell anywhere near this price point. Still targeting 80 cents which is what I've been valuing this community's token at since 2017.
Onto the real post:
That is so Meta
If you haven't heard the news Mark Zuckerberg must think that NOSTR is a really good idea because he's trying to beat them to the punch. Good luck with that, Marky. Somehow I doubt your product can compete with a million zealous blind-faith maximalists.
Meta is building a decentralized, text-based social network
Sure you are, bud.
Sure you are.
The word Decentralization has become a fad.
Especially within the corporate world, this word is losing all meaning, along with other words like "expert" and "quality" and "innovation" and "disruption". These words mean nothing when the entity uttering them is trying to sell an agenda. And my friends: there are a great many agendas out there all vying for attention within the attention economy.
News that Meta has been exploring a text-based network was first reported Thursday by MoneyControl. The app is codenamed P92 and will allow users to log in through their existing Instagram credentials, the outlet reported.
Login with Instagram... sounds super decentralized I tell ya.
Details about the project are scant. The product is still in its earliest stages, sources said, and there is no time frame for it being released. But legal and regulatory teams have already started to investigate potential privacy concerns around the app so they can be addressed before launch, we’re told.
"Privacy concerns"
As in someone being able to boot up a node and track every IP and associated email. Good luck solving that without public/private key encryption. And also how can there be legal/regulatory concerns if the protocol is decentralized? Seriously though. These corporations are constantly telling on themselves. A regulatory concern means they can shut it down if there's a problem. If they can shut it down it's not decentralized. Dirp.
The most remarkable aspect of the project is that Meta plans for the network to be decentralized. While the company would not elaborate beyond its statement, in a decentralized network individual users are typically able to set up their own, independent servers and set server-specific rules for how content is moderated.
Ya don't say?
So what even is "decentralized" within this context?
What is really going on here?
The answer is pretty simple. Centralized tech companies can see the writing on the wall. They want to wet their beak on this action, and they are willing to lie and bend the rules to do it. They want to capitalize on the 'fad' that is 'decentralization'.
What's happening here is a sneaky manipulation and the employment of several logical fallacies. I tried to remember the word that refers to a one-way implication, but all I could come up with was "correlation does not equal causation". Close enough I suppose. The converse logic is not necessarily true.
Big tech loves to employ logical fallacy to their own benefit.
This is their brand.
This is how they make money.
Manipulating data.
If it is raining, the ground must be wet.
Big Tech will spin this to the ground is wet so it must be raining.
Figuratively all they did was turn on a hose and make the ground wet.
But they've still got most of the world convinced that it must be raining.
After all... the ground is wet!
How could it not be raining!?!
Now apply this logic to "decentralized"
- Well it's open-source, so it must be decentralized!
- Well it's public, so it must be decentralized!
- Well it's permissionless, so it must be decentralized!
- Well it's borderless, so it must be decentralized!
Decentralized protocols have these attributes, but you can't just make something with these attributes and assume it is decentralized. Linux is open source, and everyone uses Linux to run their server nodes because it is incredibly stable. Does that make the servers decentralized? Hardly.
What we are seeing here is the juxtaposition between "open source" and "decentralized". Decades of failed open-source scaling models are being thrown out the window because a few cryptocurrencies are having success with their incentive models.
Incentives
A protocol can not scale without incentives. Meta's 'decentralized' platform will not be decentralized because there's no way they are going to launch a token to incentivize providing infrastructure to the ecosystem. It's the same problem that NOSTR and all the other 'decentralized' text storage platforms have. There's no actual reason to host this software out of pocket.
Intrinsically this means that all scaling will have to be done with WEB2 tactics (or even worse WEB1 paid subs). That means data collection and the exact invasions of privacy they are already preemptively claiming won't exist. They are lairs. It's quite obvious.
Building a decentralized network could also give Meta the opportunity for its new app to interoperate with other social products — a previously unheard-of gesture from a company known for building some of the most lucrative walled gardens in the industry’s history.
Truly... it will be interesting to see what Meta is actually trying to accomplish here.
It's true that they've created the ultimate "walled garden" but it's also true that they've created tons of open-source tech. Actually I wrote a post about this a while back called... Mark Zuckerberg is a Better Open Source Developer than 99% in Crypto (a triggering headline to be sure). Facebook created the React protocol and RocksDB... both of which are used by Hive developers quite heavily. Go figure.
So it is not absurd to think that whatever Meta is building right now might actually have a ton of value even though it won't be decentralized. It will definitely be open source and anyone will be able to use it. Within that context this is potentially an exciting development.
Why does Meta need a decentralized protocol?
Short answer: they don't.
The entire point of decentralization is to take power away from those who have it and wield it with corruption. All Meta has to do is stop being a corrupt company and this will fix their problem instantly. Centralization is better than decentralization in every way if the centralized agent is trustworthy. The only reason Meta has to build this thing is to capitalize on the decentralization fad while people still have no idea what the word even means.
There is no magic decentralized solution that allows Meta to suddenly accomplish new things that they couldn't do before. The entire history of open-source development confirms this a thousand times over. Not once has any big company created a decentralized protocol that helped them achieve a previously unattainable goal, and it would be foolish to assume that somehow Meta will break through and be the first company to accomplish such a feat. I'll believe it when I see it. Until then, crickets.
Conclusion
All decentralized protocols are open-source, but not all open-source protocols are decentralized. Decentralization is an artform that Big Tech is never going to understand because their relevance depends on them not understanding it. The foundation of this artform is rooted in proper economic incentives. It is all but guaranteed that this protocol will have no such incentives (just like NOSTR). It will be fun to see just how badly this Meta protocol fails, and who knows, they may even build something useful for actual decentralized protocols to use. One can hope.
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congrats to ur stack
issa nice stack c:
That bank locked up too much funds at low interest rate, so when the rate went up, they could only sell them with taking a loss. If the bank could have waited two years, everything would have been fine... but everyone wanted their money... so... they ran out of money in the short term.
The Fed could have fixed this with a swap. Why didn't they?
I guess you are saying that this is a good time to swap HBD for HIVE?
I was waiting for the big crypto crash to do this swap, or swap to bitcoin or litecoin.
I am just not keeping up with watching the market ☹️
Just waiting for the big waves.
And, how does one learn all the intricacies of powering down? I think Steem is still 2 weeks. I think HIVE is 12 weeks. Can you stop the power down, or do you just power it right back up?
In the future, i see people having their own "WALL" servers.
Like a completely inside out model of f-c-book. Where a browser would poll all of your friend's servers and make a page for you to see.
Just have to make "Wall" servers $99 at Wallymart and you just plug it in.
Powerdown is 13 weeks.
1/13th per week.
Can cancel at any time.
1/13th of my stack is 13k Hive so at these levels I can unlock huge amounts in a single week.
Because they wanted to collapse SVB. It is fairly obvious that supply lines are being sabotaged across all industries today, and money is just another supply line. Destroying supply lines creates people without access to necessary supplies, enabling saviours to swoop in and offer life-saving supplies for compliance with tyranny.
The USG did this in Afghanistan by cutting food supply lines and then offering AFghans rice for submitting to biometric scanning. The program was enormously successful, particularly at gaining compliance of parents of young children incapable of producing food.
Thanks!
Sounds like The USG and what they would do.
Not sure if that is the entirety of things.
Really not sure why SVB would put so much at one time, and lock it in... just before the Fed started raising rates. All the pieces seem highly dubious.
you have a very high HP, how do I have it too? 😉
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That's a nice power up, congrats...
The BBC calls itself impartial, Meta calls itself decentralised, it's all just words!
As you say you have to dig deeper to see if something actually IS decentralised, but that's where most people's heads start to go a bit spiny which is maybe why Meta knows it can get away attaching pretty much any label it likes to itself!
There are far more important and valuable things than money. Free speech is one of them. Absent decentralized communications, people are vulnerable to censorship that prevents them from obtaining safety signals that are necessary for their survival. We are witness to centralized platforms censoring safety signals that have prevented millions of people from knowing that the deceptive propaganda surrounding the plandemic concealed the iatrogenic harm, including death, the jabs caused.
It is not factually correct that failing to provide tokens is failing to provide incentives. A functionally decentralized communications network that enables safety signals to be promulgated is literally existentially valuable, because it can enable survival when biological warfare attacks depending on deception are being executed on centralized platforms that can censor safety signals that reveal deceptive attacks by duplicitous warfighters using iatrogenic agents.
Given the almost certain subjugation of the USG to the WHO that will enable the WHO to determine the content of centralized messaging in order to afflict civilians with additional iatrogenic harm in the future, there is no token that could compensate for the lack of such free speech on such networks. Plenty of people die with phat sacks, but no understanding of the means of their murder, and their hoards of tokens are useless when their communications are censored of safety signals.
In fact, your argument regarding Meta's duplicity about decentralization and tokenization of such a network confirms this fact. Meta will not build a decentralized network enabling safety signals to propagate without being censored because Meta intends to profit from substituting financialization for free speech. It is the relative decentralization of Hive that has allowed some free speech to persist despite the substitution of financial interest for more important values, because some people have preferred more important values over financial interests on Hive.
I believe this saved my life back in early 2020, when @lighteye proved to me that the deceptive propaganda being published in scientific journals was false, despite this not being the most financially rewarding thing he could have published to the blockchain at the time. Hive is faced today with the prospect of AI becoming competent to evade detection and enable users deploying it via sock puppet accounts to maximize their ROI, and this will quickly overwhelm actual human users on Hive, focusing rewards on AI accounts.
Without curation based on non-financial values, Hive will not continue to support human users dependent on more valuable rewards than money, and will quickly become an AI token mining device. I strongly recommend Hive deprecate financialization and promote free speech in order to defund the AI botting threat that is eventuating as we speak.
Thanks!
Freedom of speech is only valuable to society as a whole.
I don't know if you realize that what you're saying is that freedom of speech should be subsidized by the government.
Usually that means taxation, but it could just mean printing money out of thin air with CBDC/crypto.
That's the only other option if we cut out other forms of incentivization like crypto and WEB2 advertising.
The entire basis for economies of scale is that money will be allocated in such a way to create circular velocity and organic growth throughout the entire system. If you eliminate the economic incentives the system will fail. It is known. We've see this over and over again from decades of trial and error with previous open-source movements. You will be hard pressed to show me another model that actually works. Such a model does not exist. Crypto is the only known way to scale open source tech.
As for the AI takeover of this platform... with all due respect, you are making subtle accusations that I honestly don't think you fully understand. If AI takes over content creation because it's "better" than the alternative, then you are heavily implying that allocating rewards was never worth it in the first place. If it was never worth it in the first place then the existence of AI should have no bearing on whether we keep the reward pool or not. This is a completely self-defeating and paradoxical viewpoint. Even in the case of you being right, you're still wrong... for the right reasons. Pretty weird.
I am not bound by the limited scope of "comments" in their current form.
A "comment" on Hive is any declaration that work has been done.
The network can then move to allocate resources to the work that was completed.
Putting "comments" in a social media box is something I can no longer fathom.
There almost certainly will be better ways to provide value to this network in the future.
"Comments" will transcend social media and P2P communications.
I guarantee it.
Within this context AI could be extremely helpful.
If I build a game on Hive using AI no one is going to give a shit that I used AI.
The game will speak for itself and provide the same amount of value to the network either way.
I appreciate your substantive reply. It exceeds my expectations.
However, it reveals I have not well communicated my views, which I will attempt to clarify. I have never stated that Hive should not have tokens. I have said that people on Hive have higher values than money, and that Hive can eliminate botnets, scams, and plagiarism by recognizing those other human values are more valuable and rewarding them more than financial interests. Those harms only exist because fraud seeks money. No one is going to run a botnet for love. Conversely, spam is controlled by appropriate financialization, such as RC's.
I completely refute any rights ascribed to society. Only individuals have rights, and only individuals have any use for free speech. Society has no interests, nor values. A society is nothing more than a given set of individual people, and only individual people have rights or values.
I do advocate eliminating curation rewards, because they substitute financial interests for more relevant values that inform curation. Curation rewards do not promote quality content, as myriad platforms featuring upvotes without financialization reveal, and demonstrably have been shown on Hive to produce undesirable results. Trending has often poorly reflected the interests of the community on Hive due to stake being the metric by which posts are evaluated and posts being profitable to curators.
The occasional application of stake by censors to eliminate users with opinions large stakeholders disapproved of has also retarded our growth. I can supply many statements by those that have ceased using the platform that affirm that is why they don't use Hive. Many more individuals have not ever bothered to post here because of the many examples of censorship.
Substituting financial interests for many more valuable human interests enables human participation to be replaced with devices that disregard other values and thereby outcompete people for financial rewards. I can point to several MMORPGs that needed to eliminate bots because of that very fact. Bots are able to simply harvest financial resources without competing interests. Every MMORPG with an economy has been threatened with being overwhelmed by bots making their economies unusable by people playing the game for other reasons than simply to accumulate wealth. The easier it was to sell in-game resources for fiat, the worse the problem such games had. If people cannot play your game because AI has botted all the economic resources, no one will play your game. AI is a tool, and using tools to make things is fine. Using AI to replace social interactions destroys society.
On the contrary, an almost unlimited range of examples of other economic systems have existed in the past, exist today, and will undoubtedly continue to exist as long as people do. Potlatch economies enabled N. American tribes to thrive for millenia. FOSS exists today, and my computer runs software given to me by people that spent hundreds of man years making it. I am not an economist, but a quick search will avail you of a long list of economies that do not involve money at all, do not involve debt based money, or involve very strange forms of currencies, most of which are irrelevant to Hive. Every ecosystem, for example, can be thought of as an economy of nutrients.
Hive should promote human values such as free speech, affection, aesthetics, and other such strictly human values above money, and I point out some examples of substituting financialization for those things being existentially harmful to the platform, such as bidbots, opinion flagging, and the cause of the creation of Hive itself.
We presently react to spam, scams, and plagiarism by downvoting to counter the over-promotion of financial interest that attracts such mechanisms, and I assure you that botnets have long extracted rewards on Hive, and continue to today. It is because of excessive financialization that Hive suffers these detriments, and has almost been destroyed more than once.
Nothing in Hive's current code guarantees we will survive the technological advance of LLM's. Code is infinitely mutable, and we have the opportunity to fix it before the platform is bereft of human users that botnets flag off the platform, replace consensus witnesses, turn Hive into a convocation of toasters ruled by Dr. Evil, to whom all our base belong.
Hyperbole? Ya, you bet. However, the threat is real if the specifics are unpredictable beyond excessive financialization being the only vector through which such a threat can eventuate. Hive only has value insofar as only people use it. Only people should be able to use it, and any mechanism usurping human social interaction functionally deprecates people to the level of chattel, because toasters cannot rise to possess human rights.
The way Mark loves information, I'm sure everything he touches will have some privacy concerns. Congrats on 222k HP. Hopefully, hive passes your 0.80$ mark and stays around that price most of the time.
It’s the cum hoc ergo propter hoc fallacy.
I swear there was a more layman's term for it but alas I never found it.
Nice catch though this one is a deep cut for sure.
illation?
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Awesome, staking 25K. I think I never powered up that much in one step!
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Upvoted 👌 (Mana: 19/49) Liquid rewards.
Congrats on your power up and nice Hive holdings. The word “Decentralized” is used by everyone now it’s ridiculous. Zuk is a pretty smart dude, but he only cares about lining his already overflowing pockets.
Great job! 💪
Decentralization, check corrupt practices to a greater height. But my question is, is there an absolute decentralization? Maybe not, at some point there are still a tiny group who made the loud decisions.
Congratulations on your power up 🙌
Hopefully not until I have a nice fat wallet too :) ...
Hopefully it doesn't make them all public either 🤣 But yeah, I see what you mean... Big companies and government are trying to twist definitions inside out :(
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