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It is a very common mistake to look at btc and other cryptocurrencies through the lense of what you know money is right now, in the context of the infrastructur
by z3usH44mr 9y ago
It is a very common mistake to look at btc and other cryptocurrencies through the lense of what you know money is right now, in the context of the infrastructure that exists around it. The real possibilities lie in the infrastructures that can emerge around this new technologies. Consider the fact that crypto is inherently agnostic about who or what holds it. You can be a person, an institution, a script, or an object (think self-driving, self-owning, self repairing cars), or think trafficlights you can pay to turn green for you :).
then there is the possibility of true microtransactions. What are the fundamental parameters of internet commerce in our day and age. I would argue that there is roughly three kinds of dominant transaction. One of purchases of goods/services (Amazon etc), software as a service (Spotify), and then there is the vast space of businesses that basically live of the advertising they sell through brokers such as facebook and google. There is really no alternative for this lower limit of transactions. With bitcoin you can imagine a world where people offer content online (say music) and offer consumers the choice of a microtransaction/listen or to consume the same content with ads, without having to give up control over their content to third parties such as spotify. The possibilities are really quite endless.