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MSP_POD_NLP

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people will do their very best with that money, and it doesn't work out.
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that's a great distinction. i appreciate you making that clarification.
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another thing that we discussed briefly was this idea of using demurrage as a way to maybe head off inflation.
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oh yeah. i see a role for demurrage, particularly in limited supply currencies.
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so you say, "i'm going to start a limited supply currency."
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and then all of a sudden, over time, whatever the application or collaboration or business or whatever it is that this token
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is going to be undergirded by actually succeeds. so sometime in the future.
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but early on, lots of really cheap speculators, who didn't do much contributing to the actual value of the enterprise...
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yeah. so it certainly does happen. it happens in any financial market, any speculative market.
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but it's also not really so fine if the things people get rich from are too disjoint.
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so in apple's case, for example. apple never issued a fixed token,
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that early token holders would be entirely diluted out.
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it doesn't want to too much recently because it has so much cash
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because, from a regulatory and also cultural perspective right now, issuing new shares for cash and secondary offerings is just not done.
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so yeah, they're not fixed supply. and the important thing is, they're not sort of the best thing in the world. the real
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early investors in apple did supply a service that was really important, which is that they were willing to bear a lot of risk for something that at the time was totally nothing.
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and certainly, early token holders sometimes do that as well.
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and so there's a role for equity, like tokens, that aren't issued very much.
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but most of the tokens that i think we're talking about we're not really asking people to take large bets.
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and mostly, what we want to do with the tokens, as i understand what the ltb token, is we want to encourage people to actually perform, to do things that add value to the network.
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but another model is to say, "well, we're issuing tokens because we want you to actually provide value directly to our enterprise.
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and so we're going to pay you in tokens for the enterprise." and if that's your model, then this lottery ticket-like behavior is deeply counterproductive.
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because as a new entrant, no matter what i do,
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i can contribute 1,000 hours of work to the network.
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but somebody who contributed two hours of work to the network in the fifth day
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is going to be rewarded lots more than i am.
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it just doesn't well-align the incentives of people to tribute with the rewards from contribution,
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to just have a fixed value token, and let people's reward be a matter of happenstance about at what price they purchase that token.
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so with something like demurrage, you can say, basically, "look, here's the deal.
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we want to basically pay people in tokens.
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we want a certain contribution. say our blog posts. we want to
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reward you for a blog post with something that pretty much matches
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the sponsorship value, or however we measure the value of the blog post.
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and we can put a dollar figure on it. we want to pay you something that's worth maybe $100 for that blog post."
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but that amount of tokens has a value that you can understand. well,
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one way that you can support that value is you can say, "look." and holders of older token are going to have to give up something that value.
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we're going to actually take some of those older tokens away or demurrage. we're going to, over time, fractionally decay older tokens
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to make room for new tokens to be more valuable.
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and the net effect of that is we're basically saying we value current contributions a little bit more than old contributions.
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so as you get a token, it starts out with the value. and you can sell it now.
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but over time, that value is going to dissipate.
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so you might say, "well, why would anybody ever hold a token that's going to evaporate forever?" well, that's where you really have to think about, does the token have some kind of value from holding?
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so if the token pays a dividend, or something like that,
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well, then people hold the tokens, not because they expect them to appreciate. they know, actually, their tokens going to decay over time.
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but they're going to get a dividend stream that starts out high and decays over time.
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and it's that dividend stream that's going to define the value of their token.
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and so when you decide how much to pay for the blog posts, you're going to put a value on that dividend stream. and give them the dividends stream that maps to $100.
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and nobody gets screwed because everybody got paid exactly the value that they expected.
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and it's just that that value gets paid with a stream of payments. it starts out high and goes down over time.
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today, my guest is sound engineer and the owner of audio studio nord in wilhelmshaven, germany, mike rauchfleisch. mike, thanks so much for being here.
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okay, good. yeah. i wanted to ask you how you got your first job in audio. so tell me about that.
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how do you think germany's going to do in the world cup coming up this summer?
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facebook page has 18 ratings, which is new to me. i didn't know that you could rate businesses on facebook. have you always been able to do that or is that recent?
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well, it looks like you are putting some effort into it. you're posting cool photos from your events, and people like that.
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how much cocaine do you give each team member to help them stay up for the entire rave?
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hi, great to be here. thank you very much for having me.
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cool. that's fantastic. well, thank you so much for your time. and i look forward to speaking to you maybe in a year or so, and see where [inaudible] at.
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... an effort to offer people a universal, basic income using blockchain technology.
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police raids on uber offices in china and france
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to build technology that enables people to make a living driving, or conveniently find a ride,
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by recognizing new forms of transport solutions that can have a significant impact on reducing congestion.
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i'm wary of one size fits all framework.
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so, kyle, what is neocities?
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this is stupid. it's going away, and
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oh. you take a picture of yourself eating an ice cream and post it to your wall, or profile, or whatever.
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yeah. the whole thing is just ridiculous to me,
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but i have some of them on my backup drive. and i was looking at my old sites, and i was like, "wow, that's actually really cool. that's a nice little, fun little, site." and
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make it so that you can arrange the content the way you want. and not just make it about you.
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it could just be your personal site. it could be anything. and that's what's cool about it is. it gives you that creative control to be able to make things.
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and now that we have modern technology, like html5 and css, it also renders very beautifully.
H
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and if you want to move it to another site, it's really easy to just click. literally on neocities, you click one button to download a zip file of all the files.
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that was okay. we're bringing it back. but the most important thing we need to do is not make it look like a.
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and this is one of the most exciting things i've ever seen in my career as a developer.
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the distributed database was the real innovation there. it was
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you described ipfs as kind of something that seems to be taking the distributed database technology.
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and he goes through and talks about how during the dark ages of the middle age.
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what he said. this isn't civilization.
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the difference is that people like the vikings, they didn't really write books, they didn't make books. they didn't build kind of.
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they didn't think into the longterm. and so, the vikings were a culture, but they weren't a civilization.
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so you wouldn't write books if you weren't, or build temples or build cities-
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if you didn't have this context of i'm building something that's going to last thousands of years.
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.. and figure out a way to profit off of it. get all the loot, and get the spoils of war and take them back in our ships.
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http is the web and http are kind of.
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they are kind of the most important thing that binds everything together.
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but there's a fundamental flaw with the design of http and the fundamental flaw with the way that we use the web today.
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do you remember the mr. t versus something craze? do you remember this? does this ring a bell to you?
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[inaudible 00:00:19]. the problem is that the way that the http is designed, you link to other fixed resources.
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the original idea behind http was that everyone would have an http server, and then they would communicate with the other http servers.
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but we don't have that these days. what we have is we have google.com. we have one site.
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these companies come and go.
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another problem is that it allows them to take control of all the stuff that's happening on the internet.
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when i built neocities, i made free website hosting. but again, what i did is i inherited that problem because of the technical problems with the web.
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then it's just gone forever. you'll never find that file again, unless they put it back there.
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you can use that hash to find the file again.
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if you're able to do that, even if it didn't exist at google.com/pat.png, you could still get that file.
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for example, distributed hash tables, which is what we use for creating distributed, decentralized networks
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but you can actually take that and if you put all of those together, you create essentially a giant decentralized web.
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that can be also hosted in the content.
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that website will always be accessible. so that's a pretty radical thing because it makes it so that you can create a web that is essentially permanent.
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even if half of the nodes go down, or a lot of people lose interest, or,
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