BitShares Forum
Main => General Discussion => Topic started by: CLains on August 01, 2014, 04:37:29 pm
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https://www.youtube.com/watch?v=bkf04kQw1YU
Very interesting. This guy goes way deeper than you'd expect from "Overstock CEO." Looking into his background however, it makes sense: Patrick Byrne is an avowed libertarian who studied theory of computation and has a PhD in philosophy.
He views civilization as an operating system. He understands economies of scale. He believes strongly in consent of the governed and reacts strongly to all submissive ideologies that revolve around trust.
He has been concerned for a long time about the Regulatory-Capture (http://en.wikipedia.org/wiki/Regulatory_capture) and even Deep Capture (http://www.deepcapture.com/) that he sees manifested on Wall-Street and in Washington. He believes that it is necessary to replace both Central Banking and Central Counterparty Clearing with decentralized alternatives.
Finally, he is excited about blockchain-based decentralized exchanges, stocks and derivatives.
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We want a money that some government mandarin can’t just whisk into existence with a pen stroke
“I wish to provide the world a way to give Wall Street some payback,”
Byrne says that one of the things he’s trying to eliminate is high-speed trading that serves no real purpose—other than to generate profits for those doing the trading—and he’s sees current blockchain software as just one step towards remaking the stock market... He advocated using the software that underpins bitcoin to rebuild the stock market as well... He intends to 'open source' a blueprint of his plan, so that any other company can make use of it.
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For those interested, Triangulation did a pretty good interview recently:
http://twit.tv/show/triangulation/158