From morlockelloi@yahoo.com Fri Jul 6 02:42:38 2018 From: Morlock Elloi To: cypherpunks-legacy@lists.cpunks.org Subject: Re: [cryptography] Digital cash in the news... Date: Fri, 06 Jul 2018 02:42:38 +0000 Message-ID: <172289268488.3881296.16733108597452441543.generated@mail.pglaf.org> MIME-Version: 1.0 Content-Type: multipart/mixed; boundary="===============7594328348991674104==" --===============7594328348991674104== Content-Type: text/plain; charset="utf-8" Content-Transfer-Encoding: quoted-printable BitCoin has only one problem: maintenance of the relationship between unit Bi= tCoin value and the material world (energy, as in KWh) is 'soft', it requires= some sort of a volatile communal effort, which sets it for failure (as a cou= nter example, the amount of Au atoms on this planet is rather independent fro= m any communal effort.) The relationship between unit value and the material world needs to be fixed.= It's just a matter of time. Then we may name it ButtCoin. > We expect money to be a store of value, among a few other > things. BitCoin has nothing in it that speaks to that goal, > that I can see [0]. This anti-property would however > make it more ideal for a bubble [1]. >=20 > Quite how to fix that and retain the decentralised control > aspect, I'm unsure. The essence of a contract is that > someone delivers something to someone else; without > that first party (which speaks to centralisation at some > level) it is hard. _______________________________________________ cryptography mailing list cryptography(a)randombit.net http://lists.randombit.net/mailman/listinfo/cryptography ----- End forwarded message ----- --=20 Eugen* Leitl leitl http://leitl.org ______________________________________________________________ ICBM: 48.07100, 11.36820 http://www.ativel.com http://postbiota.org 8B29F6BE: 099D 78BA 2FD3 B014 B08A 7779 75B0 2443 8B29 F6BE --===============7594328348991674104==--