Great project! I can also see other use cases; investigative journalist or criminal investigators using this to create a detailed profile of persons (eg Epstein files), authors setting up detailed profiles of fictional characters for stories.
Actually cryptocurrency perhaps more resemble a pyramid scheme because early investors profit disproportionately from latecomers, who buy at inflated prices. Transaction fees play a key role, as miners or validators earn significant fees, often benefiting early adopters with large holdings who promote network usage. Thus, high fees primarily enrich those already invested, leaving newcomers to bear the cost.
This is just a joke of course, but there is an underlying thought. The goal of OpenAI is to develop AGI and Ilya Sutskever will keep OpenAI on this course, as a research company, until this goal has been reached. To me this just says that they haven’t reached the goal yet and that the forces that were pulling away from that goal have been dealt with.
It's not a Ponzi scheme. It's a multi-level marketing or pyramid scheme. A percentage of every sale (transaction fees) of crypto goes to the other coin owners of the crypto. For every crypto coin it works slightly different.
For Bitcoin, the original design was that everybody could be a miner and (potentially) receive transaction fees. Now it's in the hands of a few with the computing power.
It's the transaction fees that get distributed to all the other coin holders that makes it a pyramid or MLM scheme.
In the case of Bitcoin, originally, every Bitcoin holder would also be able to mine with their own computer and receive transaction fees. This has since changed, so now it's only the miners with specific equipment that benefit from the transaction fees.
If there is a promise of future cash flows from transaction fees that is dependent on new holders, doesn’t that make it a pyramid, ponzi or MLM scheme?
The risks cited may have to do with the irreversibility of transactions and the lack of a deposit guarantee scheme when using cryptocurrency.These are valid concerns.
This will however not help with their financial crisis, because the national issuing of money and collection of taxes is still in Turkish Lira. All payment by the government for goods and services is in Lira and needs to be converted to cryptocurrency and all cryptocurrency needs to be converted back to Lira to pay taxes.
The strictly non-commercial, science-based public service called NutritionFacts.org researched the health effects of sodium and published a video two days ago summarising the evidence that salt raises blood pressure.
Take look at Ladybird
https://en.wikipedia.org/wiki/Ladybird_(web_browser)?wprov=s...