It's not anything I invented- it's what Satoshi invented- this can be done on any good blockchain. Let's back up so I can please try to understand where you are coming from. Do you agree that Bitcoin can do things previously existing systems like e cash can't do? If so, what?
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Replying to @brucefenton @flix1
Satoshi solved double spending problem in a censorship resistant manner, which is crucial for bitcoin as a digital asset. Censorship resistance is not necessary for centrally issued IOUs, which can be censored anyway, so a simpler solution (e-cash) is a better fit.
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You are correct but are looking at it from an angle that I think has a common misconception which is that he trusted party (the issuer) is the only one we're dealing with. In global trading markets the issuer isn't the problem it's counterparties.
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Replying to @brucefenton @flix1
e-cash solves the counterparty problem for centrally issued IOUs in a nicer way than Bitcoin, as it is completely anonymous.
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I don't think Bruce is well versed in Chaum's e-cash. You don't need a blockchain for what you're doing Bruce. (Unless you want people to buy a cryptocurrency)
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Not you too Omg Can't someone please build it then? I'm not being flippant I'll literally give you a million dollars. I'm telling you it can't be done.
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I don't think it's as easy to build as http://forkgen.tech lets you build blockchains but you can always ask
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I they'd agree that blockchains have advantages over securities
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Replying to @brucefenton @MrHodl and
It's complicated. Mined blockchains dealing with transactions in other currencies than the mined coin is incentive incompatible: you risk a chain that gets filled with transactions that don't benefit (and compete with) the mined coin, reducing its value, and thus its security.
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Thabk you for replying. Can this incentive issue be mitigated by using sidechains and LN channels dedicated to those tokens? It seems like some chains have to be the backbone for other assets or there would be too many chains.
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Wouldn't incentives be align if the assets are denominated and transactable in native coin?
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Replying to @sbelak @brucefenton and
I believe they're refering to atomic swaps : one native coin, one alien.
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