I want to go to a cryptocurrency conference and propose a new currency that emphasizes privacy by allowing distributed offline transactions using physical tokens printed with watermarks... And see how long it takes for everyone to realize it's just cash.
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Replying to @davywtf @sonyasupposedly
Decentralize your proposal by suggesting everyone use some rare element as the basis of value.
2 replies 0 retweets 8 likes -
The problem with precious metals is trust in the custodians and their necessity. The problem with printed crypto tokens is the lack of a solution to the double spend problem. If he actually could solve the problems involved then people would be interested.
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Is keep your gold safe harder than keeping safe your crypto passwords?
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Probably about as hard - far harder to have transactions where you exchange physical gold though - which is where custodians come in. Since you're going to be doing digital transactions either way why not rely on math for the underlying rather than metal that can be stolen?
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