Bitcoin as a solution
Bitcoin as a solution – 4 years ago having been said new ideas seem to bubble up
- to think in bitcoin instead of dollars for value a critical mass of users & usage is needed
- different flavored bitcoins for different usage such as medicine & the arts
- instead of taxes crowdfunding projects – how could taxes be levied?
- Satoshi’s original paper: https://bitcoin.org/en/bitcoin-paper
- how could stop the exchange of bitcoins for $ xor eliminate buying bitcoins w/currencies through exchanges.
- arbitrage & hedge funds ?
- Andreas Antonopoulous, a Bitcoin evangelist, suggests trade off between security & flexibility exists for Etherium vs Bitcoin
- Etherium in the Wikipedia boasts of smart contracting. Unfortunately there was some hacking & $50 million was lost . OTOH, the Mt.Gox bitcoin exchange failure of 2014 was also a learning experience.
- I doubt Gresham’s Law applies since there is no value to the bitcoin itself – only the exchange transaction has value.
- What would happen if we invented a CryptoCurrency which remained within one market & then later the markets bid against eachother xor is that the way things are going now. True value in exchanges depend on location, timing, a nexus of supply chains & exchanges etc. When the value of the dollar changes all balances depend then on time, labor & a spiral upwards & downwards.