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      "body": "Alright, I think most people have heard of Beijing, Shanghai, and Hong Kong. And you probably guessed they are major economic powerhouses. Well, pretty much all the other major cities in China you never heard of are also economic powerhouses that have outputs compared to entire countries.\n\n|Rank | 城市 | Chinese City | City GDP (2015, PPP) | Comparable Country |\n|-----|:-----:|--------------|:-----------------:|--------------------|\n| #1 | 上海 | Shanghai | $810 billion | Philippines |\n| #2 | 北京 | Beijing | $664 billion | U.A.E. |\n| #3 | 廣州 | Guangzhou | $524 billion | Switzerland |\n| #4 | 深圳 | Shenzhen | $491 billion | Sweden |\n| #5 | 天津 | Tianjin | $478 billion | Romania |\n| #6 | 蘇州 | Suzhou | $440 billion | Austria |\n| #7 | 重慶 | Chongqing | $425 billion | Chile |\n| #8 | 香港 | Hong Kong | $414 billion | Peru |\n| #9 | 武漢 | Wuhan | $324 billion | Israel |\n| #10 | 成都 | Chengdu | $306 billion | Norway |\n| #11 | 杭州 | Hangzhou | $275 billion | Greece |\n| #12 | 南京 | Nanjing | $272 billion | Denmark |\n| #13 | 無錫 | Wuxi | $270 billion | Morocco |\n| #14 | 青島 | Qingdao | $266 billion | Hungary |\n| #15 | 長沙 | Changsha | $246 billion | Sri Lanka |\n| #16 | 大連 | Dalian | $245 billion | Finland |\n| #17 | 佛山 | Foshan | $235 billion | Uzbekistan |\n| #18 | 寧波 | Ningbo | $233 billion | Angola |\n| #19 | 瀋陽 | Shenyang | $230 billion | Sudan |\n| #20 | 鄭州 | Zhengzhou | $210 billion | Ecuador |\n| #21 | 唐山 | Tangshan | $191 billion | New Zealand |\n| #22 | 東莞 | Dongguan | $186 billion | Ethiopia |\n| #23 | 煙臺 | Yantai | $184 billion | Belarus |\n| #24 | 濟南 | Jinan | $174 billion | Azerbaijan |\n| #25 | 南通 | Nantong | $170 billion | Slovakia |\n| #26 | 長春 | Changchun | $163 billion | Dominican Republic |\n| #27 | 西安 | Xi'an | $161 billion | Kenya |\n| #28 | 福州 | Fuzhou | $160 billion | Tanzania |\n| #29 | 哈爾濱 | Harbin | $159 billion | Bulgaria |\n| #30 | 合肥 | Hefei | $157 billion | Tunisia |\n| #31 | 石家莊 | Shijiazhuang | $156 billion | Guatemala |\n| #32 | 徐州 | Xuzhou | $150 billion | Ghana |\n| #33 | 常州 | Changzhou | $147 billion | Serbia |\n| #34 | 溫州 | Wenzhou | $131 billion | Croatia |\n| #35 | 淄博 | Zibo | $123 billion | Panama |\n\nWhat is even more amazing is that these cities don’t exist in isolation. As per urban-planning doctrine in China, cities are interconnected in larger metropolis regions. The three main metropolis regions of China correspond with the Chinese cities you've heard of:\n\n# Yangtze River Delta (長江三角洲)\nWith a combined GDP of $2.17 trillion, which is comparable to Italy, the Yangtze River Delta contains cities like **Shanghai** (上海), Suzhou (蘇州), Hangzhou (杭州), Wuxi (無錫), Ningbo (寧波), and Changzhou (常州).\n\n# Pearl River Delta (珠江三角洲)\nWith a combined GDP of $1.89 trillion, which is comparable to South Korea, the Pearl River Delta has cities like **Hong Kong** (香港), Guangzhou (廣州), Shenzhen (深圳), Foshan (佛山), Dongguan (東莞), and Macao (澳門).\n\n# Jing-Jin-Ji (京津冀城市群)\nWith a combined GDP of $1.14 trillion, which is comparable to Australia, Jing-Jin-Ji holds the two largest cities in northern China, **Beijing** (北京) and Tianjin (天津), as well as Baoding (保定), Shijiazhuang (石家莊), Tangshan (唐山), Cangzhou (滄州), Langfang (廊坊), Zhangjiakou (張家口), Chengde (承德), Qinhuangdao (秦皇島), and the planned Xiong'an New Area (雄安新區). The name is derived from the second characters of Beijing and Tianjin and the single-character representation of Hebei Province, named for the historic Ji Province (冀州)\n\n![35-cities-china.jpg](https://steemitimages.com/DQmZS6TAx2WtiZ7qy95bBLnAu95JraZJmZGhuVTgNtLEWrY/35-cities-china.jpg).",
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      "body": "Good article.  Our machine learning algorithms have no concept of words that are more intended to cause injury and emotional distress than actual communication.  The math models are constructed from a corpus of human-created text, and words will be chosen later by the model/algorithm if they appeared with any frequency in the corpus.\n\nThe lesson is that we shouldn't use populist communication channels (like Twitter and Facebook) to create a training corpus.  There are too many people in the world who fall into low-brow behavior, and their low thoughts are infecting social media.  Of course, it doesn't help that the social media companies have been utterly irresponsible not guarding against abusive language, wrapping themselves instead in the complacency of greed.     \n\nYou might find my latest blog post of interest, because it addresses the lack of transparency in big data, and how biased data collection is causing problems.",
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      "body": "@@ -1057,40 +1057,8 @@\n *_%0A%0A\n-As a young immigrant to Canada, \n Engl\n",
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      "body": "![nigger-wechat.jpg](https://steemitimages.com/DQmUQtz17xf2y65Bu9YazZP3YZTr6MYSpDaCEoXsreDeiyq/nigger-wechat.jpg)\n\nIt has come to my attention that a Chinese app (WeChat, you might have heard of it) is embroiled in a small scandal: it occasionally translates the word “black foreigners” as “niggers” which for those who don’t know is a very bad word that no English speaker should ever use. Of course, the Anglosphere media is quick to blame the Chinese for cultural insensitivity at best, blatant racism at worse. But is WeChat or Chinese culture to blame? \n\nNo!\n\nWe English speakers have only ourselves to blame! Like children, artificial intelligence learn from imitation and pattern recognition. Like children, computers and algorithms come into the world with a blank slate. If a child does something bad, the parents are to blame. If an algorithm does something bad, however, the programmers are not necessarily to blame.\n\n# HATE IS NOT INNATE, HATE IS LEARNED\n\n\n人之初，性本善；性相近，習相遠。\n_*The nature of humanity is kindness;\nBut nurture creates differences.*_\n\nAs a young immigrant to Canada, English and Chinese are both primary and second languages to me for different reasons, but one thing is common: I had no exposure to bad words in both languages due to my environment growing up. Eventually, I had to “learn” that the term “Chinaman” and “Chink” are hateful and racist terms for Chinese people. Logically, “Chinaman” makes sense, as the literal character-for-character translation of 中國人 “Chinese person”, while “Chink” sounds like a natural shortening of the word Chinese. In other words, the negative connotations and the baggage of hate had to be learnt.\n\nAnd what does this have to do with the word “Nigger” and its variant “Negro”? \n\nThese are also logical or natural language evolutions for a descriptive word for a black person. Languages are massively multiplayer decentralised systems. In a parallel universe, “Nigger” might be a standard or respectful way of addressing black people. But these terms in our current universe became weaponised by those propagating hate, and have never or can never be deweaponised.\n\nAnd why is this relevant to the topic at hand? Prejudice and intolerance is unfortunately a universal human trait, and social status or classism is the most prominent form of discrimination. The traditional worldview of the Chinese was people were either cultured (化內) or barbarians, i.e. uncultured (化外), where culture is the defined as those adhering to the traditional Chinese culture (華夏文化). Discrimination occurred between the “Chinese” which itself is an ever-fluctuating concept versus the barbarians, which are of a lower social class and status. However, unlike the West—especially in the United States of America—China does not have a tradition of considering black people as subhuman. The problem is that China ironically needs to learn about how to be racist in order to avoid being racist.\n\n# LEARNING DATA SETS HAVE BIAS\n\n_*Garbage in, garbage out.*_\n\nChinese culture is paradoxically an inward- and outward-looking nation. While fiercely proud of its own culture, China has also absorbed and appropriated many foreign aspects throughout the millennia. Having been humbled by over a century of humiliation, China looks to the West for guidance in modernisation. However, the issue is that cultural baggage gets lost in translation, and that can be unintentionally hurtful in a globalised society, especially in situations like this.\n\nThe Chinese are very practical folk. A black-skinned person is a black foreigner, or a negro (derived from Latin), or a nigger (a derivative of the Latin term). These words carry no connotation for the Chinese. In fact, the most popular brand of toothpaste in China is 黑人牙膏 which practically translates as Negro Toothpaste, because the idea is that the product makes your teeth as white as the teeth on black people, a complement—albeit a strange one, but consider that Chinese people will tell you in your face that you are fat if you’re overweight, and still mean well because being fat means being well-off, i.e. not starving like a peasant. But the point is that China does not have malice in calling black people by names that are inappropriate in the West, because the cultures are fundamentally different. The blackface character of Negro Toothpaste now considered offensive in the West but the Chinese think oh that’s a logical and widespread representation of black people in the West.\n\n![negro-toothpaste.jpg](https://steemitimages.com/DQmRr61he3yo9MNBYCq2cdEHzqXbWeiUao8yE2tEFPCd9pX/negro-toothpaste.jpg)\n_This brand used to be called_ Darkie, _but now it's known as_ Darlie. \n\nAs long as the West continues to portray black people (and other minorities in general) in biased ways, the rest of the world (including China) will inherit these bias and unwitting normalise them. I don’t work at Tencent, but it is very likely that WeChat got their training data from the English-speaking internet. If that world is full of racist trolls, is the WeChat team—who have few if any US-American English speakers on their team—really to blame for inadvertently creating a racist troll?\n\nIronically, one could say that the algorithm worked perfectly: if you’re trying to insult a person by calling them a thief, throwing in some racist language is strangely ‘appropriate’. If that disturbs you, do not blame the machine, or the programmers, or the culture of the people that programmed the machines; blame the source, which is their training data, i.e. we English-speakers of the West which provide this training data, and our entertainment and media that reinforce our behaviours, subliminally or otherwise. Blame yourself for your choice of words, your habits, your actions.\n\n# CHANGE THE MACHINE OR CHANGE OURSELVES?\n\n_Be the change you want to see in the world_\n\nAt the end of the day, we must ask ourselves what we want: a gentle, compassionate, harmonious society or a cold, practical, impartial one. Do we want to propagate a culture of respect for self and respect for others, or is freedom of expression a sacrosanct human right? There is no right answer: on one side of the spectrum is Japan, a country with strict and complex social protocols, and on the other side is the USA, a country that is fiercely individualistic. And as long as we do not tend to the extremes, neither value is mutually exclusive.\n\nWhat is clear is that there is no place for racism in a gentle, compassionate, harmonious society. Civility begins with us. We choose the words we use. We can choose to not use those bad words, and we can actively stigmatise those who use those bad words. Rather than washing our hands of our sins, passing the blame to others, we must acknowledge our part and help machines learn without indoctrinating them with the hateful baggage of humanity.\n\n![KKK-kid-state-trooper.jpg](https://steemitimages.com/DQmNREJDzA7HCYUvtHT5cKMqVSwcyi5E3s97mqJ3Qrww2r2/KKK-kid-state-trooper.jpg)\n_*The nature of humanity is kindness; but nurture creates differences.*_",
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      "author": "ygern",
      "body": "哈，只是剛好我習慣用的是繁體",
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      "author": "thinkpanda",
      "body": "@@ -4327,16 +4327,18 @@\n Party on\n+ly\n  survive\n",
      "json_metadata": "{\"tags\":[\"money\",\"technology\",\"blockchain\",\"bitcoin\",\"ethereum\"],\"image\":[\"https://steemitimages.com/DQmVfoonu2LjVey12ZdjhQ1sXys5PcpuSuuhQrs2oHQvduA/hk-china.jpg\",\"https://steemitimages.com/DQmQSe5mJxf7YEhsa9RxHwaw2i9JkqyiQVBnmg3QxYE3mu4/hong-kong-bank-of-china-e1479701910597-1024x586.jpg\",\"https://steemitimages.com/DQmPMbYZk3aaxp3C8xF6fQjwcLAa8necXD59QRLPpBMdtSg/ICO-vs-IPO.jpg\",\"https://steemitimages.com/DQmedj6KgFwVpPNq9G7PSwvsoPLRBVDNHBX5sw9fJjjGNcQ/ICO-vs-stocks.jpg\",\"https://steemitimages.com/DQmQ2ixBmpQ2WWJWJQwfLwuVjv3GdgAyRYacuxiQiVpVvam/PBOC.jpg\"],\"links\":[\"https://steemit.com/ethereum/@thinkpanda/crisis-of-the-coins-cryptoeconomics-at-the-crossroads\",\"https://steemit.com/canada/@thinkpanda/july-1st-perfect-day-for-retrospect-on-one-country-two-systems\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}",
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      "author": "thinkpanda",
      "body": "Thank you for using 正體字. It gives the document a very official and regal feel to it!",
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      "author": "thinkpanda",
      "body": "![hk-china.jpg](https://steemitimages.com/DQmVfoonu2LjVey12ZdjhQ1sXys5PcpuSuuhQrs2oHQvduA/hk-china.jpg)\n\nDear friends, many of you have asked me about the China banning ICO news. South Korea is also making moves. I have this to say for Hong Kong:\n\nNOT SURPRISED. KEEP CALM AND CARRY ON.\n\nBefore summer, I predicted that the authorities will crack down on ICOs because many are for all intents and purposes securities with speculative properties, intentional or otherwise [[Crisis of the Coins](https://steemit.com/ethereum/@thinkpanda/crisis-of-the-coins-cryptoeconomics-at-the-crossroads)].\n\nOur team has thus far been doing everything right.\n\n1. Our token is non-speculative\n1. Our token is not a security\n1. Our economy has tools against hyperinflation\n1. Our ICO follows best practices\n1. Our ICO is audited by lawyers\n1. Our ICO is broken down and milestones-based\n\nLong-term gain is better than short term gain! We're not interested in getting rich quick. We're interesting in building the future.\n\n## Where did ICOs come from and why are they so popular?\n\n![hong-kong-bank-of-china-e1479701910597-1024x586.jpg](https://steemitimages.com/DQmQSe5mJxf7YEhsa9RxHwaw2i9JkqyiQVBnmg3QxYE3mu4/hong-kong-bank-of-china-e1479701910597-1024x586.jpg)\n\nSeven months ago, I was having lunch with a bunch of my banker friends in the bustling central financial district in Hong Kong (which by the way is aptly named \"Central\"), talking about typical things you'd expect people in Hong Kong and in banking and in Hong Kong banking to talk about: how to get rich (quick). Startups quickly became central to the conversation.\n\nThe conventional wisdom is laughably simplified:\n1.  Get an idea\n1.  Start a company\n1.  Profit aka IPO\n\nSince these were no ordinary bankers — I have the privilege of calling them my friends — I was compelled to expand their worldview a tiny bit:\n\n1. Ideas are actually quite easy to generate with the right mindset, but product-market fit is way more important than ideas\n1. Ideas are comparatively completely worthless in light of how hard execution is, because it is a lot f*cking harder than a typical person could imagine, starting a company is simply step one out of hundreds\n1. IPO is not the only exit... in fact, IPO is rarely the exit for most tech startups! There are mergers & acquisitions, make so much profit that you pay dividends to investors, or the most recent liquidity event, the ICO.\n\nFor sake of brevity, I explained ICO is like the IPO but not. It definitely is not.\n\nFor companies to IPO, it is not the beginning of the end, but the end of the beginning, especially for founders and key employees. An ICO is literally the beginning. Besides a 67% character match rate in their acronym form, there are quite a few differences:\n\nICO vs IPO in Chinese 「首次貨幣發行」與「初次公開發售」分別\n![ICO-vs-IPO.jpg](https://steemitimages.com/DQmPMbYZk3aaxp3C8xF6fQjwcLAa8necXD59QRLPpBMdtSg/ICO-vs-IPO.jpg)\n\nCoins (tokens) vs stocks\n![ICO-vs-stocks.jpg](https://steemitimages.com/DQmedj6KgFwVpPNq9G7PSwvsoPLRBVDNHBX5sw9fJjjGNcQ/ICO-vs-stocks.jpg)\n\nThe biggest difference is that IPOs have existed for a long time and thus are heavily regulated. ICOs being completely new are self-regulated, which for most people means unregulated. Honest people leverage the ICO to fundraise quickly and also let their friends and family participate in what traditionally would be out of reach for them. Dishonest people market the shit out of their ICO in a bid to take in as much money as possible; if an ICO is making too much noise, that's a red flag (not the PRC nor HK one!)\n\nUnfortunately for humanity, honest people (that can execute) are in very short supply on this planet. Projects may be decentralized but people are not. And that's where governments come in.\n\n## China goes nuclear\n\n![PBOC.jpg](https://steemitimages.com/DQmQ2ixBmpQ2WWJWJQwfLwuVjv3GdgAyRYacuxiQiVpVvam/PBOC.jpg)\n\nThanks to [*One Country Two Systems*](https://steemit.com/canada/@thinkpanda/july-1st-perfect-day-for-retrospect-on-one-country-two-systems), what happens in China stays in China. And China did what they had to do, given its national priorities, which is to stop scam ICOs and other illegal fundraising activities, because they have dire social stability consequences. **Scam ICOs are this decade's subprime crisis.** The Chinese Communist Party on survives because it is building a stable society. Nuking all ICOs first and deal with the consequences later is the best move for them.\n\nMeanwhile in Hong Kong, the HK SFC statement is actually following the US SEC stance, basically saying, *\"some tokens are securities, therefore some ICOs are illegal, but not all, so stay tuned for more updates!\"* Unlike the Mainland of China, Hong Kong's volume does not affect social stability. Furthermore, Hong Kong being a major commercial hub (like Singapore) cannot afford the consequences of a nuclear strike; surgical strikes serve as much better tools for regulating this budding industry. This is the most responsible thing for them to do right now. **In a curious twist of fate, Hong Kong is perhaps set to become a financier of China once again.** Some say history repeats itself, but I say it definitely spirals.",
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      "author": "htliao",
      "body": "Posting under #hk tags and let us know more about you",
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      "author": "vintagevan",
      "body": "Funny because it is true:  The banking class can appropriate our wealth (consume it) and return (defecate) it in depreciating cash.   If only there was an atm that could shit gold coins.",
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      "author": "cheetah",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://firenewsfeed.com/finance/285037",
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      "body": "Jackal had been riding his donkey and grew tired, so he decided to stop and cook some meat. Once his food was getting hot, he saw some farmers coming toward him and quickly put out the fire. When the farmers arrived, he said, \"Look! This is a magic pot. It doesn't need a fire to cook food. You must just hit it three times.” He did just that, and then showed the farmers the meat that was still sizzling. \"I will sell you this magic pot for $1,000,\" said Jackal. They took him up on the offer.\n\nLater, the farmers grew hungry and tested their new pot. But after hitting it three times, they found their meat was still raw. They tried again—still raw. Realizing they’d been tricked, they went back to Jackal, who was scared to see his customers returning. Quickly, he took the money they had given him for the pot and hid it in his donkey's rear end.\n\nThe farmers demanded their money back. \"I can't,\" replied Jackal. \"This pot is yours now. Anyway, I have already spent the money.” But just as he said this, the donkey farted and all the money tumbled from its backside. For a second Jackal was terrified, but then he smiled. \"Look at this donkey,\" he said to the farmers. \"It’s magic because if you feed it grass, it will shit money.” He offered it to the farmers for $1,000. \"This is a magic donkey!\" agreed the farmers. So they parted with another thousand dollars, and Jackal happily went on his way.\n\n![ATM-Donkey-Graffiti.jpg](https://steemitimages.com/DQmQnv96EUPodukBnVQdgV4kTyUa8ndWEdnt2v8UrM6xMCS/ATM-Donkey-Graffiti.jpg)\n\n*The above story was told by a member of the Ju/’hoansi, an African hunter-gather society that I studied during anthropology in university, and retold via [this article from The Atlantic](https://www.theatlantic.com/business/archive/2017/07/hunter-gatherers-modern-economy/534522/). It's interesting that the everyman of an ancient society would have similar (mis)conceptions about money as any everyman in a modern society. And ATMs: “If you feed this machine the right numbers, it magically shits money.”*",
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      "body": "A government may seem like a monolithic organization, but it consists of a vast range of stakeholders and other important players, ran by a combination of incompetent interns, disgruntled employees, spies and traitors, and everything in-between. Besides being more expensive than machines, humans cannot be trusted, unintentional mistakes or otherwise. The future of government is semi-autonomous, mostly machine-driven, and extensively decentralized with minimal human involvement. \n\nOne major dilemma has dominated the political science discourse of the post-9/11 world: how to balance the need for state surveillance and privacy of the individuals. Conventional wisdom suggests that it is a zero-sum game, but with the emergence of decentralized applications, it is possible for the state to efficiently manage administrative affairs with relative degrees of transparency while respecting the privacy of its citizens and security of private information.\n\nA decentralized application or dapp is the technical term for programs—including smart contracts—that have been written for distributed systems backed by cryptographic protocols. Dapps are chiefly characterised by provenance, immutability, and finality of records; if consensus among nodes is required, depending on type of node, a distributed ledger or blockchain may be used, permissioned or otherwise; if storage is required, interplanetary file system may be coupled. Dapp operations are facilitated by tokens, which are subjected to economic forces. Overall, dapps are resilient and scalable, with features that would be difficult or impossible in traditional apps, such as Byzantine fault tolerant and zero-knowledge proof systems.\n\nIt is not without irony that the future of decentralized systems will be written by centralized powers, but as long as there are groups of people, there will be government. Here are four classes of dapps that would be essential to running a cryptogovernment.\n\n# 1. Absolute Identity\n![infernal_affairs.jpg](https://steemitimages.com/DQmbfWY9zxjtAAY6VmJyBpcb6yMsaFghWV36zmJvEJFrWc8/infernal_affairs.jpg)\nOne’s identity is the proof of one’s existence. Without identity, one does not exist at all. Safeguarding identity therefore is as valuable as safeguarding life itself. This is especially true in the present digital era, where as of yet the threshold to committing identity theft is laughably low. It may seem merely a personal problem, but lack of personal accountability undermines the security of the state at its foundations, affecting everything from immigration to taxation. By 2018, we will see specialized dapps tackle this identity crisis.\n\n# 2. Digital Currency\n![Monopoly_money.jpg](https://steemitimages.com/DQmUqovGY8r4jG4wreHbL1YpLRa28uNKf9hZCWKeAbuJL45/Monopoly_money.jpg)\nThe history of counterfeiting is as long as the history of money itself, whether humans were using seashells, precious metals, or paper. While a vast majority of the money supply is indeed digital now, humanity has not seen completely digital money yet. Bitcoin proved that blockchains could deal with double-spending. By 2028, we may see central banks adopt cryptocurrency as national currency and legal tender, commissioning dapps for minting and recasting digital dollars to control money supply.\n\n# 3. Title Tokenization\n![Monopoly_title_deeds.jpg](https://steemitimages.com/DQmSc8jbaTTrSqVLNbcZkbtxcTu2y44tBNeMk3Zry1bb1eR/Monopoly_title_deeds.jpg)\nProperty titles—usually real estate or vehicles—are simply a collection of records: deeds, liens, covenants, and more. Because these records are all over the place, the title encapsulates much time, blood, and tears and is thus very valuable, hence spawning many services around it, including title insurance and recovery. Blockchain dapps provide hope of seamless title management, to the relief of owners and the bureaucracy, while keeping details secure, with access granted only by owners.\n\n# 4. Decentralized Registry\n![Walther_PPKS.jpg](https://steemitimages.com/DQmQC7iWKPrx9yPW6gocHYcQqUF7Z379KLmULuJziAX3YSa/Walther_PPKS.jpg)\nLand registry, motor vehicle registry, company registry, firearms registry (for our American friends out there), and any registry would benefit immensely from blockchain and interplanetary file systems. Dapps help facilitate cross-ministry collaboration while off-loading much of the work to the citizens, with the added benefit of privacy and security.\n\n# Two Sides of the Same Coin  \n![mario-nx-image-money.jpg](https://steemitimages.com/DQmZBNm5rMK7q2yqrpJwumW1KKPVR6M8B9CrMrRJDQ4yNam/mario-nx-image-money.jpg)\nPrivacy and security are consistent themes in blockchain and dapps. The challenge ahead for cryptogovernment is to reconcile the irony of implementing decentralized applications by centralized authorities to balance the rights of the individuals and the needs of the state. Implemented well means the foundation of smart cities, paving the way to the utopia of a more interconnected and interdependent world of shared peace and prosperity.",
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      "body": "Thank you for reading!\n\nA word of caution about a college degree: firms are only now warming up to the idea that academic smarts != workplace smarts. However, if you ever want to consider overseas placements, a college degree is prerequisite to a work visa.",
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      "author": "rachelburger",
      "body": "Great read. Love this kind of brain food! \n\nI don't necessarily think that the crypto crash is as guaranteed as you make it out to be, though. I like to think of it like a college degree in the United States: it's not at all a requirement, but definitely a nice to have. As time goes by, it'll become more popular, more of an asset, and face harder barriers to entry. It will divide people into haves and have not. \n\nEventually there will be talk of a \"bubble\"--maybe in 20 years?--but st that point there will be even more clearly defined \"winners\" and \"losers.\" The thing is, *which* exchange that'll pop, and why, is completely unpredictable. \n\nLikening investing in any ICO other than BTC to gambling is accurate, and you've got some awesome theory and analysis here. Great stuff!",
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      "body": "![party-like-its-1999.jpg](https://steemitimages.com/DQmdQ3DUBqyLGAmPyytyPeMmHaLHBtgng5HuyANPcAnXgr3/party-like-its-1999.jpg)\n\nHistory does not repeat itself, but it does spiral and echo the past. History tells us that crypto will crash soon and crash hard. \n\nMost people are only focused on the trading of cryptocurrencies and most people have no idea what the flux is going on. And while they are mesmerized by the market rollercoaster rides, there is something more seriously wrong on a foundational level.\n\nMost of the trailblazers in the cryptospace are too young to remember partying like it's 1999, or were not even born yet. The party did not end well, and it took over a decade for startups to gain legitimacy again.\n\n![NADAQ.gif](https://steemitimages.com/DQmUtaiqtKC5EDwZQSBs13TtUinn4uuZbKVrn6X8byGPX16/NADAQ.gif)\n\nThere is one particularly startup that's legendary for the wrong reasons: [WebVan](https://en.wikipedia.org/wiki/Webvan). They raised almost a billion dollars from the top VCs. They relied on strategic theories from consultants. They built a sprawling infrastructure before doing any customer testing or business development. They defined epic fail.\n\nIn the dotcom boom, companies can raise money on just a business plan. Engineers believed that if they build it, people will use it. Yet the dotcom bust did not wash away these cardinal startup sins.\n\n![bitcoin.jpg](https://steemitimages.com/DQmWkYiKuk2MCYXRjbiYvJd387Z7EJYFKqYHFuqZZvXwtaT/bitcoin.jpg)\n\nToday in cryptoland, investors are the ICO (cryptocurrency vehicle), and the business plan called a \"whitepaper\", which is arguably worse: engineers are not businesspeople and a technical paper is not a substitute for a business plan. Not to mention the quality of some of these \"whitepapers\" — would you raise millions of dollars with your undergrad thesis? Yep, didn't think so. Yet that's what we are seeing.\n\nThe worst part is the unsubstantiated confidence. The [\"crypto-jihadis\"](https://steemit.com/japan/@thinkpanda/heisei-revolution-japan-building-world-s-first-crypto-government) think blockchain will overthrow the present state of affairs and bring about a new world order. They do not know technocracy cannot thrive without capitalism. Corporates and consortiums think their power alone would spawn useful applications. They do not know how to execute, some don't even know what they are talking about. In a tornado, even pigs can fly.\n \nHence, this is why most ICOs are scams: scamming the public, scamming themselves, and maybe a hybrid of both! Everyone thinks these are Amazon and Google, but how do you know they are not Netscape, Yahoo, AOL, Lycos, Excite, or AltaVista?\n\n![ICO.jpg](https://steemitimages.com/DQmdXjM16BV2fzrDMwTFNE1Lm2QZBQmGKC6jMwgNnMHw4ow/ICO.jpg)\n\nSo what can be done?\n\n***To all the dreamers and builders out there:*** plan for the post-apocalyptic crypto-world, not for 1999. Don't build until you have a customer development model and business model. Don't raise ridiculous amount of money on a pipe dream. Don't be greedy, be sustainable. Make the change you want to see in this world. Don't die.\n\nIdeas are easy. Execution is hard. Continuous operation is what separates the winners from the losers.\n\n***To everyone else:*** don't bet the farm. Gamble responsibly.",
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      "body": "@@ -350,16 +350,60 @@\n iness.%0A%0A\n+%5BVenture capital is going to murder Medium%5D(\n https://\n@@ -475,8 +475,41 @@\n bccf4829\n+)%0A%0AThis is good news for Steemit!\n",
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      "author": "thinkpanda",
      "body": "![bomb-disarm-simpsons.png](https://steemitimages.com/DQmP5SjMTPcK6Q6c2gsq2ohNnG3i8MVpFHUjJyaHZ5bmcSr/bomb-disarm-simpsons.png)\n\n>This is tragic, but also expected. Medium rigged that VC bomb and is failing to disarm. And just like most other VC bombs, it too will explode and take with it the prospect of a lovely, smaller, important typewriter business.\n\nhttps://m.signalvnoise.com/venture-capital-is-going-to-murder-medium-656cbccf4829",
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      "author": "thinkpanda",
      "body": "@@ -395,35 +395,29 @@\n 1.  \n-An ICO going out of control\n+One very reckless ICO\n  %0AAl\n@@ -3369,16 +3369,162 @@\n  a hawk,\n+ thanks to %5Bscammers and money laundromats%5D(https://steemit.com/ico/@eeks/beta-ing-the-tezos-experience-red-flags-for-the-ico-and-open-questions),\n  ICOs in\n",
      "json_metadata": "{\"tags\":[\"ethereum\",\"cryptocurrency\",\"investing\",\"bitcoin\",\"crypto-news\"],\"image\":[\"https://steemitimages.com/DQmW1yxomoHm3mJiwntmoBsMGGb9b9UgGYyUAguNGF7VGrA/squirtle-bubble.png\"],\"links\":[\"https://steemit.com/ethereum/@thinkpanda/the-great-schism-of-ethereum\",\"https://steemit.com/ethereum/@joshbreslauer/ethereum-is-entering-the-ice-age\",\"https://steemit.com/ethereum/@thinkpanda/crisis-of-the-coins-cryptoeconomics-at-the-crossroads\",\"https://techcrunch.com/2017/06/22/the-company-called-blockchain-raises-40-million/\",\"https://steemit.com/ico/@eeks/beta-ing-the-tezos-experience-red-flags-for-the-ico-and-open-questions\",\"https://en.wikipedia.org/wiki/SEC_v._W._J._Howey_Co.\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}",
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      "title": "3 to 5 Ways ICOs can pop the ETH bubble"
    }
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  "block": 13338488,
  "op": [
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      "author": "thinkpanda",
      "body": "![squirtle-bubble.png](https://steemitimages.com/DQmW1yxomoHm3mJiwntmoBsMGGb9b9UgGYyUAguNGF7VGrA/squirtle-bubble.png)\n\nSupply and demand dictate the movement of markets. Thanks to strings of ICOs on Ethereum, the demand for Ether (ETH) has been sky-high. The multi-million-dollar question is when these bubbles will pop? When does the party end? More importantly, *how* might the party end?\n\n# 1.  An ICO going out of control \nAll it takes is one particularly disastrous ICO to lock up lots of Ether and force the Ethereum Foundation to do something about it, again. Hard fork or soft fork, such actions split the community and destroys value. [There is already historical precedent](https://steemit.com/ethereum/@thinkpanda/the-great-schism-of-ethereum). World-changing movements inevitably encounter great schisms — yes, usually more than one — and it would be reasonable to expect one in the future. The question is how far off into the future and how serious is the fallout?\n\n# 1½. Network Schism\nSpeaking of schisms, the next one could just be around the corner. There are lots of issues with Ethereum and the developers at the Ethereum Foundation are addressing it. This is the main motivation to move from proof-of-work (PoW) to proof-of-stake (PoS) to achieve consensus. However, this new update will require a hard fork. Not all of the current community may be onboard, especially if they have incentive or sunk costs in the PoW infrastructure. The [Ethereum Ice Age](https://steemit.com/ethereum/@joshbreslauer/ethereum-is-entering-the-ice-age) is meant to force the migration, but it is by no means *fait accompli* — the ETH-PoW loyalists could remove the Ice Age after the transition.\n\n# 2.  A lack of ICOs\nBesides the cloud of uncertainty concerning the future of Ethereum, many are rather concerned about Ethereum's [lack of] capacity to handle the transitions requisite of ICOing. Status recently clogged up the entire Ethereum network raising their SNT token. Transactions don't go through because [no one wants to mine the unimportant ones](https://steemit.com/ethereum/@thinkpanda/crisis-of-the-coins-cryptoeconomics-at-the-crossroads). All this has caused some developers to consider alternative methods to fundraising for their projects, such as a pre-pre-sale among private investors, ICOing via different cryptocurrencies (like Bitcoin or Litecoin; [Ether is technically a token not a currency!](https://steemit.com/ethereum/@thinkpanda/crisis-of-the-coins-cryptoeconomics-at-the-crossroads)), raise money [the old-fashioned way](https://techcrunch.com/2017/06/22/the-company-called-blockchain-raises-40-million/), or a combination of the above.\n\n# 2½. Ether prices\nOnce an ICO raises on ETH, the project would want to liquidate part of that for real-world operating expenses: developers don't accept ETH for salary, because they can't pay rent with ETH.  If ETH is projected to crash, the project would want to liquidate *as much as possible*, leaving only a token amount (pun intended) for actually operating smart contracts. This is a vicious negative feedback loop: as the price of ETH depresses, projects sell off more and the price depresses further, leading to more and more projects looking at other alternative methods to fundraising. \n\n# 3.   ICOs become illegal\nThis is crypto armageddon! Not only is INTERPOL already watching every ICO like a hawk, ICOs in their current state are a contradiction in security law:\n> Most if not all ICOs so far are treated like currency rather than tokens. Not only does this violate real-world regulations — the Howey Test — it encourages behaviours that run counter to the ICO project’s grand vision. In fact, ICOs should be renamed ITOs: initial token offerings.\n— [Hong Kong Blockchain Society](https://steemit.com/ethereum/@thinkpanda/crisis-of-the-coins-cryptoeconomics-at-the-crossroads)\n\nSchrödinger's securities are unstable. The authorities — such as the SEC in the USA — may ruled that ICOs indeed does not pass the [Howey Test](https://en.wikipedia.org/wiki/SEC_v._W._J._Howey_Co.) and declare it outright illegal: unlisted securities sold to unaccredited investors. This would obliterate not just Ethereum, but all cryptocurrency markets. This is the scariest prospect because it is totally outside the realm of cryptoeconomies and all it takes is one SEC somewhere in the world to use this nuclear option. ***This can happen at any day. now*** Ironically, the destiny of a decentralized future is still at the mercy of the centralized now.\n\n*I may have misunderstood or misinterpreted some aspects of Ethereum. If there are things to be corrected, or you'd like to add more to these thoughts, please comment below. Also, I am a crypto-technologist and not a crypto-economist, so this definitely does not constitute as investment advice.*",
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      "voter": "nikoniko",
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  "block": 13325373,
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      "author": "thinkpanda",
      "body": "I think the issue is more about sovereignty, not about race either.",
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      "parent_author": "joshsigurdson",
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      "title": ""
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      "voter": "thing-2",
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{
  "block": 13322901,
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    {
      "author": "joshsigurdson",
      "body": "Something I'm well aware of, I'm about 25% myself. \nBut I look at the world from an individualist standpoint, not by race.",
      "json_metadata": "{\"tags\":[\"canada\"],\"app\":\"steemit/0.1\"}",
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{
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    {
      "author": "thinkpanda",
      "body": "@@ -314,16 +314,17 @@\n eneral A\n+d\n rienne C\n",
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      "title": "July 1st: Perfect Day for Retrospect on One Country Two Systems"
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      "author": "thinkpanda",
      "body": "A different view on Canada 150 by a fellow Canuck: https://steemit.com/canada/@thinkpanda/july-1st-perfect-day-for-retrospect-on-one-country-two-systems",
      "json_metadata": "{\"tags\":[\"canada\"],\"links\":[\"https://steemit.com/canada/@thinkpanda/july-1st-perfect-day-for-retrospect-on-one-country-two-systems\"],\"app\":\"steemit/0.1\"}",
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      "author": "thinkpanda",
      "body": "If you think it's bad for you, it's worse for the Natives: https://steemit.com/canada/@thinkpanda/july-1st-perfect-day-for-retrospect-on-one-country-two-systems",
      "json_metadata": "{\"tags\":[\"canada\"],\"links\":[\"https://steemit.com/canada/@thinkpanda/july-1st-perfect-day-for-retrospect-on-one-country-two-systems\"],\"app\":\"steemit/0.1\"}",
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      "author": "thinkpanda",
      "body": "Now that the parties are over, time for introspection: https://steemit.com/canada/@thinkpanda/july-1st-perfect-day-for-retrospect-on-one-country-two-systems",
      "json_metadata": "{\"tags\":[\"life\"],\"links\":[\"https://steemit.com/canada/@thinkpanda/july-1st-perfect-day-for-retrospect-on-one-country-two-systems\"],\"app\":\"steemit/0.1\"}",
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{
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      "author": "thinkpanda",
      "body": "![Hong-Kong-Giant-Rubber-Duck.jpeg](https://steemitimages.com/DQmSGUAJrQ7XsUJ4UrHkubiEmnbuwnPHCDfvobZf96DeHux/Hong-Kong-Giant-Rubber-Duck.jpeg)\n\nAs far as dual identities go, the combination of Hongkonger and Canadian is not uncommon: there are over half a million Hong Kong Canadians (including former Governor General Arienne Clarkson) and 300,000 Canadians in Hong Kong (a majority of entertainers). Ergo, when July 1st rolls around, it's dually significant: the anniversary of the Retrocession of Hong Kong in 1997 and anniversary of the Canadian Confederation in 2017.\n\nThis year is even more significant, because the anniversaries happen to be a pattern that human brains love, a multiple of five: it's Hong Kong's 20th (re)birthday, and Canada's 150th. \n\nThe pride and celebration is obvious, but this is a great time to reflect the progress so far and what holds for the future. There is a lot in common, and I'm not talking about the giant rubber duck that the government invited with taxpayer money to make people smile. I'm talking about a tale of two systems in one country.\n\n![Toronto-Canada-Duck.jpg](https://steemitimages.com/DQmU9M6WM4VQ8FPh369B9FPXMJFzFF5P9DhtJEaSRSZymSv/Toronto-Canada-Duck.jpg)\n*Toronto apparently got a fake one, but t'is a tale for another time.*\n\nYou can't talk about Hong Kong without talking about One Country Two Systems (一國兩制). It was the modern solution to a colonial problem. When the Great Britannian Empire acquired what became the Crown Colony of Hong Kong, parts of it were as a war prize (like Gibraltar) and other parts were a 99-year lease (like Weihaiwei). The 1842 and 1860 unequal treaties were for keeps; the 1898 convention was the lease.\n![Hong-Kong-British-Crown-Colony-Conquest-Lease.png](https://steemitimages.com/DQmTXkfadUyu8otGdFpi3VvrHASEasTQ4tqnXwqQU9XXepD/Hong-Kong-British-Crown-Colony-Conquest-Lease.png)\n\nWhy 99 years? The British in their infinite foresight and wisdom assumed 99 years was as good as forever. Well...\n\nBy the start of the 1980s, the markets in Hong Kong were starting to get nervous about what would happen after 1997, and the British finally realized that forever was happening very soon. With confidence at a high after the 1982 Falklands War, the British tried to persuade China to extend the lease by some complicated legal acrobatics. China would have none of it, and told its tenant that the lease expires 11:59 on June 30th, 1997. And if they don't leave, [somebody gonna get a hurt real bad](https://www.youtube.com/watch?v=VopC0g5UViM). The British asked the Chinese promise to keep Hong Kong's status quo for 50 years, and China agreed, signing the 1984 Sino-British Joint Declaration.\n\nAs soon as their meeting with the British was over, China proceeded to amend Article 31 of the Constitution of the People's Republic of China (PRC) to include Special Administrative Regions (SAR), an idea borrowed from the Republic of China (ROC) — especially ironic since the PRC is offering reunification with the ROC by granting Taiwan this SAR status. One Country Two Systems was born.\n\n![handover_ceremony_of_macau_government.jpg](https://steemitimages.com/DQmWtkbRNVfkWZfEaGzUcgSsLW5qTUS7s5wVFNEPg2FpMQs/handover_ceremony_of_macau_government.jpg)\n*And they copy & pasted the same deal with Portugal for the Retrocession of Macau.*\n\nThe concept of One Country Two Systems is tied to the principle of governance of a SAR, for a SAR is for all intents and purposes a country within a country. Although Hong Kong makes headlines in the West for its erosion of democracy and the slow take-over of China, the reality is that Hong Kong SAR today has much more powers and rights than other countries within countries, such as Scotland (in the UK) or \"Indian\" Reserves (in Canada and the USA).\n\nThe unequal treaties signed by the Chinese are well known in Hong Kong and China. How much do the Canadians know about the unequal treaties signed by the original Canadians and Americans? The British had no hope assimilating or killing all the Chinese to 'civilize' Hong Kong, but what happened to the Aboriginal (First Nations) people in Canada and the United States?\n\nThe aboriginal populations were decimated by disease due to the Columbian Exchange, and later forcefully removed and contained by the governments of the USA and British North America (proto-Canada). While historically the conquest and subjugation of the \"Indians\" was more brutal in the United States compared to in Canada, it's not like the native people have it easier. Most of Canada is celebrating Canada 150, but not all Canadians.\n\n![colonialism-canada-150.jpg](https://steemitimages.com/DQmQgv44TLHEQnjXWhvDW9EypXn5ecUGRER5EVCqcaGwyAA/colonialism-canada-150.jpg)\n\nDespite a brutal history, the US natives have more control and sovereignty over their tribal lands compared to their Canadian counterparts. The USA itself is technically a union of 50 \"countries\" and within these lands are sovereign lands that are administered by Native Americans. Although the Bureau of Indian Affairs governs top level interactions (aka the highest sovereign authority), the US federal government has very limited day-today jurisdiction over Native Reservations. This is not the case with Canada, where the Canadian federal government is more involved with the governance of Native Reservations. Though there aren't any major clashes between US and Native Americans after the conclusion of the US-Indian Wars, there have been serious incidents between Canada and the First Nations, such as the 1990 Oka Crisis:\n\n![Mohawk-Oka-Crsis-1990.jpg](https://steemitimages.com/DQmZ2koxMwm71Rxh3bR3m2KCGjszxBnUycSK8bsVWWS235w/Mohawk-Oka-Crsis-1990.jpg)\n\nCanada has committed many resources to First Nations people in the form of subsidies and affirmative actions. It obviously is not working. First Nations people have similar issues as Black Americans: they are treated as losers and raised to think they are losers. If at a young age a child cannot equate his people with success, could you reasonably expect this child to grow up successfully? What good are all those subsidies and affirmative action for business and higher education if they don't make it that far?\n\nFeeling sorry is not enough. Reconciliation commissions are not enough. There are almost as many First Nations people in Canada as there are Canadians in Hong Kong. This is wasted potential, for the First Nations and for Canada.\n\nCanada may perhaps take a page out of both the Chinese and American playbooks. Perhaps Native Reservations should treated by law and in reality as one country two systems. In this day and age, when all you need is a laptop, stable power, and stable internet to make money, there are much more opportunities for sovereign First Nations Reservations than just casinos. ***Imagine Canada 200... celebrating the rejuvenation of the First Nations people, lead by the world's first major implementation of cryptocurrency in a real-world economy, made possible by the special legal jurisdiction of First Nations SARs and their ability to enact independent governance and regulations.*** Now that would be worth celebrating.",
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