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Dan
@robustus
1.3K Following    35.2K Followers
Yeah, "capitalism" is just a sort of minimal framework for societal coercion reduction, given human nature as a prior. Socialism is an extremely heavy handed and ultimately violence-requiring way to deny or re-form human nature in some very ill-fitting mold.
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This is a delightfully thorough postmortem of BIP-110, and the silly & obviously-broken lines of thinking its supporters espoused. Complete with tons of receipts:
Bunch of things coming together for zcash roughly-simultaneously: - two halvings in, high inflation rate supply overhang is gone - most of the 1st two epochs' founders/dev rewards have likely been sold through over the years - shielded pools are finally usable, and they end up locking-up supply - quantum recoverability deployed; zcash has one of the best quantum roadmaps - post Ironwood, zcash now clearly a leading project (& not just within crypto) on AI-security and formal verification - privacy in renewed focus due to AI - socialism & wealth taxes driving attention to financial privacy & unseizeable assets - wallets with good ux, plus usable crosschain tools like Near Intents make holding/using zec practical, finally Lotta people (including you) saw the potential a decade ago. There were just a bunch of practical roadblocks that took time to work through.
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W2 tax with-holding. Imagine the outrage if everyone had to *write a check* to the US treasury out of money they already had in their bank account. Lotta people would have a very different idea of optimal tax rates.
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