Would you propose the US step-in and apply our playbook? We have a nationalist POTUS. How do you beat authoritative closed governments from the inside or outside? At least let the people in those regimes have some store of value that is portable while their countries collapse.
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Crypto has other utilities (in progress) like fractional ownership of assets, staking for prediction markets, digital collectibles, token rewards for information / knowledge sharing, data provenance for supply chains, and other as yet determined new economic models.
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Can I get some help from a friend on this? cc:
@arjunblj@APompliano@Melt_Dem@wheatpond@mdudas@davealevine@DavidJN79@twobitidiot@danheld@mg@ricburton@fluffypony@wences@balajis2 replies 0 retweets 0 likes -
Trust. Throw out nearly every other feature and trust can stand alone. Behemoths of businesses were built on middle man, rent seeking antics with their core feature being "trust us". The ability to send bitcoin with absolutely no intermediary is game changing.
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First
@rinsana “Blockchain” tech that embodies the security features you mention, are decentralized and require an incentive model vis-a-vis the token/s. Second, fiats have and are failing; the Yuan has been manipulated for years, the Bolivar is worthless, etc.$BTC is the future1 reply 0 retweets 1 like -
Replying to @DavidJN79 @mg and
All currencies throughout history have been "manipulated." Are you saying that restricting the total supply of BTC is not manipulation? The Bolivar is not a functioning currency. BTC may replace some currencies to support the transfer of wealth, sure. Not sure BTC is the future.
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Replying to @rinsana @DavidJN79 and
Capped supply is a feature, not a bug for Bitcoin. What will eventually be available is fully transparent, unlike any of its historical predecessors. It would be manipulation if somehow the rules changed.
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Replying to @mg @DavidJN79 and
I understand the benefits and transformational nature of blockchain. I don't understand the benefit of, or need for, Crypto. Major financial institutions, and the US Govt, are going to use blockchain to ease friction, enhance transparency, etc., for dollar-based transactions.
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Most are using SQL databases disguised as “Blockchain”. There is a fundamental difference btw public and private Blockchains that you seem to be missing.
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Replying to @DavidJN79 @mg and
I will do more work. Happy to be taught more by anyone willing to help me understand what I am missing. I stick to one fundamental premise. It's not money yet. Crypto lacks all the universal properties that money requires: unit of account, storehouse of value, medium of exchange
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It takes time. Zoom out on the chart since 2011 

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