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"Computer money" isn't a great term to describe the difference indeed. Rather, some call it the first digital scarcity, or sound money. Emphasis is on how mint
by fleddr 5y ago
"Computer money" isn't a great term to describe the difference indeed. Rather, some call it the first digital scarcity, or sound money.
Emphasis is on how minting, the creation of new money, is strictly enforced by the protocol (software), and decentralized. Further, it is hard-capped.
As such, it's money that is born digitally, natively. This extends to ownership, which is just a bunch of private keys.
- tacitusarc 5y agoDigital scarcity and sound money cannot be the same, as scarcity and money are at odds with each other.
- fleddr 5y agoNo they're not. Money is supposed to be scarce and has been for the vast majority of the history of civilization. But let's agree to disagree there. Even then, money has multiple roles: unit of account, store of value. Currently, Bitcoin plays the role of storing value. Like a savings account, or "digital gold". Not for payments. It might play a payment role in the future on layer 2, or it might not. Too soon to tell.