1) A DAO. 2) A smart contract, which can be amended from time to time by the DAO.
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Replying to @QWQiao
So much unneccessary risk, governance issues and complexity that Bitcoin doesn’t have. Not to mention that Bitcoin is simpler to understand than all the portfolio bundles. But anyways what chain is this going to be running on & how will security of that chain be incentivized?
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Replying to @MustStopMurad @QWQiao
I really have no idea why you're dragging Bitcoin into every answer. That's not what this post is about.
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Replying to @antiprosynth @QWQiao
It is what this post is about because he said his Bundle of Stocks will become SoV+MoE+UoA and will make Bitcoin unneccessary. Read some of Qiao’s other posts.
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My point is that people won’t choose something as Global Digital Money if it’s not censorship-resistant. Stocks and Real Estate are connected to physical reality and authority. Bitcoin not so much.
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Replying to @MustStopMurad @QWQiao
I don't think you understood his post all too well and got triggered by the 'token that is not Bitcoin' notion.
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Replying to @antiprosynth @QWQiao
We have been discussing this for weeks, there is no triggering going on. I am just trying to decipher the extent of censorship-resistance of his synthetic construction.
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Replying to @MustStopMurad @QWQiao
The censorship resistance and trust minimization doesn't happen at the physical endpoints. It happens at all the points in between. I think that can be hard to grasp intuitively. It's not binary.
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Replying to @antiprosynth @QWQiao
wrt to physical endpoints: imagine if thugs take over a house whose tokens you own. do you think they’d care about the tokens? you’d rely on enforcement etc. with BTC, or even your beloved ETH, you don’t need outside law/authority/violence to ensure ur money is OK
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Replying to @MustStopMurad @QWQiao
Yes, I understand that. You would still need to register the tokenized deed with a law enforcer. The advantage is more in having a global standard that everybody can agree on because it doesn't require trust, amongst aformentioned points.
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but you’re trusting the law enforcer?
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Replying to @MustStopMurad @QWQiao
At the end points, I think it might make sense to, yes. That is not the problem that is being solved here though. And when a physical theft occurs, the thief will not own the non-fungible token, barring him from transacting the good on the decentralized marketplace.
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