First 10 years: establish a reliable, programmable store of value. Next 10 years, use that to create: - Scalable global payments system - Decentralized marketplace protocols - Collateralized debt enforced by proofs - Medium-trust trading systems - Derivatives, futures, options
I get that. But how will a 10-year loan work on the blockchain? What unit of account will it be denominated in? I am deliberatelt playing devil’s advocate. I have Faith in Bitcoin as a SoV / Digital Gold but unsure about UoA.
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We might rethink how we use unit of account or how necessary it is. I’ve been to countries where they use one unit of account for regular purchases and another for debts. Derivatives themselves could provide the stable points of reference. Lots of work to do
Thanks. Twitter will use this to make your timeline better. UndoUndo
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It might not be stable enough even at multi-trillion Mcap
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Interesting thread. What can we call stable in the financial markets these days? Seriously.
End of conversation
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