Blockchain is awesome technology. Basing money off of it is great, and the most important use case. However money is not the only thing that can be symbolically owned. Hernando De Soto's The Mystery of Capital explains that the United States already has symbolic representation of things like stocks and mortgages and other assets, (so a switch to blockchain would not offer any huge benefit there). But other parts of the world do not have access to that freedom, and could benefit drastically from the symbolic representations on a digital ledger that's not controlled by their hostile governments. A system of representation that allows for more liquidity, for borrowing and transacting with contracts that are verifiable and represented in a known location.
So in the United States maybe Bitcoin currency is all that is needed, and getting banks out of bed with government and on blockchain. But billions of people don't have our fortunate status of being able to go on an exchange and buy stock or go to a bank and get a loan. Shitcoins allow for that. It's gonna be big for them.
Kevin's Bacon
npub18h…d8059
2023-03-05 15:40:03
in reply to nevent1q…lsl2
Author Public Key
npub18hdy2qy2qwga0ye7rtnucwuyf07erjfdmm7s74wwdt7sy4mk7tdsdd8059Published at
2023-03-05 15:40:03Event JSON
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"content": "Blockchain is awesome technology. Basing money off of it is great, and the most important use case. However money is not the only thing that can be symbolically owned. Hernando De Soto's The Mystery of Capital explains that the United States already has symbolic representation of things like stocks and mortgages and other assets, (so a switch to blockchain would not offer any huge benefit there). But other parts of the world do not have access to that freedom, and could benefit drastically from the symbolic representations on a digital ledger that's not controlled by their hostile governments. A system of representation that allows for more liquidity, for borrowing and transacting with contracts that are verifiable and represented in a known location.\n\nSo in the United States maybe Bitcoin currency is all that is needed, and getting banks out of bed with government and on blockchain. But billions of people don't have our fortunate status of being able to go on an exchange and buy stock or go to a bank and get a loan. Shitcoins allow for that. It's gonna be big for them.",
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