A world in which centrally banked money is optimally managed is comparable to a world in which bitcoin is effectively global legal tender, and a world in which all central banks value stabilize versus bitcoin. Each scenario is an expression of Ideal Money
why go back to the need for *trust* if the whole point was to eliminate trust? why give monetary power back to people again if we now have global trustless distributed consensus algorithms instead?
-
-
It is pointed out by experts in the field, bitcoin is not a trustless system, it is trust minimized and trustworthy. Yuri has the correct sentiments, if banks print money with value stability w/respect to bitcoin, then it is trustworthy money. Banks aren't evil.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
The goal was to create fair money. The means to goal is trustless system. Credit was the first form of money and works fine between entities that trust each other and we do trust other people as long as we know them personally.
-
Why not just lend Bitcoin int his hypothetical future?
-
But how would you compensate for the risk?
-
Lend 1 BTC demand 1.05 BTC back
-
How would you demand? And even if you would sign up a legal contract, what if you want to sell part of this 0.05 BTC interest to someone else because you want BTC now instead of obligation?
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.