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A Bitcoin-like solution for Greece
- notahacker 11y agoThis is a worryingly incoherent argument from someone that apparently runs a macro fund. The suggestion that Greece creates some kind of financial asset tradeable at par with the Euro for future tax repayments is a reasonable - if not uncontroversial - proposal to help them with the immense problem of not being able to print any of the Euros they need, even when inflation is the least of their concerns. The suggestion they do so using "blockchain technology"; a means of distributing assets so computationally expensive that transactions are possible only because it giving away free assets to people willing to lend processor hours to the "mining" is ridiculous. Especially when the article opens by pointing out they need to make a 750M Euro payment next week, and the entity that needs the revenue is a centralised monetary authority.
- markvdb 11y agoImplemented right, a government verifiable block chain might be a cheap way to get the people of Greece to pay taxes.