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well normal money, but in a revolutionary form factor. metal coin usd -> paper usd -> crypto usd Smaller jump then gold -> usd -> btc which actually means cha
by obilgic 4y ago
well normal money, but in a revolutionary form factor.
metal coin usd -> paper usd -> crypto usd
Smaller jump then gold -> usd -> btc which actually means changing the global reserve currency.
If you think about it didn't the U.S. government did a similar thing by gold. USD was pegged to gold initially, then they changed it.
- jimmydorry 4y agoI think you missed a step: metal coin usd -> paper usd -> digital usd (closed, permissioned system) -> crypto usd (transparant, permissionless system) The jump is a lot less between digital and crypto should be small.
- obilgic 4y agotrue, revolutionary (compared to even digital usd) as in It shouldn't require a third party (aka bank etc) for 2 individuals to transact.
- scq 4y agoNo bank involved, but for every transaction you burn down an unspecified amount of the Amazon rainforest. But hey, you win some, you lose some.
- tsimionescu 4y agoYou always need a 3rd party for two individuals to transact. It's banks for dollars, miners + the whole infrastructure for crypto. In principle, miners or the infrastructure maintainers could be forced to never mine your transactions (well, transactions to/from particular wallet IDs), by the way. It would be of course harder, since your money is in a single bank, but all miners would have to agree to the ban for it to work.