> There is no excuse of ignorance for receiving and selling stolen property or property used in service of a crime
Let's say your public address is public, all your net worth is there. A tainted account can send a small amount to you, nothing you can do about it. Is your account now tainted as well? If yes then bad actors now have a powerful tool of wealth destruction.
> But you also ignore ACH/wires/credit cards and all the ways most money moves today. What is the fundamental issue there that Bitcoin solves?
Regarding this point, Bitcoin solves the freedom to move capital. People in the U.S. under-appreciate this freedom. I'm from a country with strict capital control, very very difficult to move money outside the country, it's hard even to convert local currency to USD.
There is the reflexivity of bitcoin's network effect. The more institutions adopt bitcoin, the more stable it is, and hence more institutions will want to adopt it.
Bitcoin won't be a unifying currency. It behaves like a commodity, and commodities prices can swing wildly - remember negative crude oil prices last year?
Shares of Facebook for sure. Bitcoin's value is in the network effect, you can easily create a bitcoin clone but it's worth nothing if you are the only one hogging all the coins.
Ah, the value of a social network is in what the users bring. If the first users post crap which attracts more users who would post more crap, then that's not the network you want.
Quite important that Facebook's first users are Harvard undergrads, and Twitter recruited "influencers" as their first users, those are the groups that people would want to join.
Simplest example of what not a manifold is the shape of the letter “Y”. Technically for a topological space to be a manifold, every small neighborhood around each point should look the same. But “Y” has a special point at the center.
> there is no reason to believe that the true value is closer to 21 than to, say, 3.
I find this very silly, since if we ditch the arbitrary 0.95 and go with 0.999.. confidence interval of [-998, 1040] for example. How can one say that one cannot tell if which value is more likely, 21 or 1040?
If this is an actual limitation of the frequentist model like you said, everybody should be a bayesian thinker then. And the "confidence interval" is just a quick way to communicate how wide and where the posterior bell curve is.
Yeah when you say "life coach", people get what it is, but it's boring. But there's a certain weirdness to the term "boss as a service" that make it seem interesting and people want to find out what it is, I think.
Let's say your public address is public, all your net worth is there. A tainted account can send a small amount to you, nothing you can do about it. Is your account now tainted as well? If yes then bad actors now have a powerful tool of wealth destruction.