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Ep. 248: Mark Miller Interview with Michael Covel on Trend Following Radio

Synopsis: Michael Covel speaks with Mark Miller. Miller is a computer scientist at Google. He has done early work in hypertext, and today is heavily involved in digital rights. His conversation with Michael Covel is wide-ranging, and especially interesting as they look to the future–perhaps even a future after Singularity. Covel and Miller discuss property rights; Hernando de Soto; Bitcoin and digital trust; “smart contracts”; why a contract is like a board game; game theory; 3rd World infrastructure; how program code can become a contract; a closer look at “possession is nine-tenths of the law”; whether the Turing Test was just passed; defining the term “singularity”, and the multiple singularities of the past; A.I. and nanotechnology; how Miller’s work relates to markets; the history of hypertext. For more information on Mark Miller, visit Want a free trend following video? Go to

mark s. miller

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Posted in Not Wall Street, Podcasts
One comment on “Ep. 248: Mark Miller Interview with Michael Covel on Trend Following Radio
  1. Andy says:

    Thought provoking podcast!

    But, what if third world villages have it right and the so called collateral of land, future production, etc is an illusion?

    How can something be collateral if its loss does not diminish the debtor’s wealth as measured by the debtor? In the matter of homes, government simply provides a practical subsitute for shelter as a matter of human right if claims are enforced, squatters are thrown out, and their credit impaired. In some jurisdictions collateral claims cannot even be enforced this way because of generous personal bankruptcy laws.

    Concrete proof that digital contracts will make any difference would be the situation where Yellen, Obama, [insert nominal vote buying leader], etc make yet more promises to cover the carrying costs of still more of society’s loser debt gamblers and the next day some US military equipment (aircraft carrier etc) is physically reposessed by creditors.

    Digital or not, the only way secured debt has credible value are real consequences like higher borrowing rate or diminishment of something of genuinely irreplaceable value to the debtor. Everything else is just a game.

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