1/ The fact that people still ask questions like this shows how not-well-understood Bitcoin still is. Bitcoin token has value because it directly represents the asset it tokenizes: an unforgeable, costly and decentralized ledger. (thx @NickSzabo4 for the lovely term).https://twitter.com/leoncfu/status/976469536894521345 …
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11/ PS: btw, the “ledger asset” gives Bitcoin token its intrinsic value. The fact that we are willing to pay more than the intrinsic value represents Bitcoin’s monetary premium (SoV, MoE). If people only use blockchain as a database, they wouldn’t pay for this premium.
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It's more like being forced to pay with a different store-branded gift card at each store. Total insanity.
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I hear you. Otoh, imagine a future token payment matching layer that seamlessly transacts multiple token types based on merchant defined “acceptable tokens” and consumer defined “spendable tokens” with a sprinkle of algorithms/prefs to add “weight” to each token per user profile.
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1. Think of the USD as the ETH equivalent. 2. JPY, RMB, EUROs are the ERC20 tokens. They serve their own ecosystem with different policies(easing, interest rate etc) 3. Maybe 95% of erc20 tokens have redundant use cases, use
$BNB to counter argue what you wrote. -
4. Disclosure - don’t own ERC20 tokens.
End of conversation
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