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I have patents on 99.9% of components needed to make a blockchain work - so Bitcoin is not going away
The thing we need to do is stop all the negativity about what bitcoin will do to Fiat and government money. Not a single comment on that helps us. Every single time someone says bitcoin will destroy Fiat makes it more and more difficult for bitcoin to actually be used globally.
What we need to do is start building - boring every day businesses that use a ledger boring things like accounting, recordkeeping, notarisation, and even identity management.
In five years, there will not be a single cryptocurrency. They will be digital currencies and digital assets. Bitcoin is a digital asset and commodity. Digital currencies can be built on top of it.
A cryptocurrency is a system that seeks to act outside of the law. Bitcoin enables tracing, recovery and claiming. There is a concept in law called following, this is incredibly simple to achieve in bitcoin. Bitcoin allows tracing through mixtures because each token is fungible. Remember, one bitcoin is a collection of 100 million indivisible fungible tokens.
There are rules for following an tracing through mixtures. These are not new and have been around since the time of Rome.
Even using a mixing service does not save you, those using the service can expect to have their tokens taken because when you receive stolen goods, the property rights do not transfer to you.
Bitcoin is not a cryptocurrency. BTC and BCH are cryptocurrencies.
There will not be digital gold. There is absolutely no reason to have digital gold in the world. Digital gold exist today. Gold is not a store of value, it is a speculative inflation hedge. To be a store of value it needs to have a currency peg to it. Gold was a store of value in the past but it isn't any more. The US dollar is a store of value in US dollar contracts because one US dollar remains equal to 1 US dollar. Gold was only a store of value when this was also the case. To be a store of value, you cannot have any increase or decrease. A store of value does not change in value.
Today, digital gold exists. It's called a tradable gold certificate.
So we don't need BTC as digital gold. The bull about being digital gold is a false narrative that it can be used in money-laundering, but even gold is covered under KYC rules
CSW
Mar 12, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1584017323062900?thread_ts=1584017323.062900&cid=C5131HKFX
2/2
https://t.me/CSW_Slack/2345
I have patents on 99.9% of components needed to make a blockchain work - so Bitcoin is not going away
The thing we need to do is stop all the negativity about what bitcoin will do to Fiat and government money. Not a single comment on that helps us. Every single time someone says bitcoin will destroy Fiat makes it more and more difficult for bitcoin to actually be used globally.
What we need to do is start building - boring every day businesses that use a ledger boring things like accounting, recordkeeping, notarisation, and even identity management.
In five years, there will not be a single cryptocurrency. They will be digital currencies and digital assets. Bitcoin is a digital asset and commodity. Digital currencies can be built on top of it.
A cryptocurrency is a system that seeks to act outside of the law. Bitcoin enables tracing, recovery and claiming. There is a concept in law called following, this is incredibly simple to achieve in bitcoin. Bitcoin allows tracing through mixtures because each token is fungible. Remember, one bitcoin is a collection of 100 million indivisible fungible tokens.
There are rules for following an tracing through mixtures. These are not new and have been around since the time of Rome.
Even using a mixing service does not save you, those using the service can expect to have their tokens taken because when you receive stolen goods, the property rights do not transfer to you.
Bitcoin is not a cryptocurrency. BTC and BCH are cryptocurrencies.
There will not be digital gold. There is absolutely no reason to have digital gold in the world. Digital gold exist today. Gold is not a store of value, it is a speculative inflation hedge. To be a store of value it needs to have a currency peg to it. Gold was a store of value in the past but it isn't any more. The US dollar is a store of value in US dollar contracts because one US dollar remains equal to 1 US dollar. Gold was only a store of value when this was also the case. To be a store of value, you cannot have any increase or decrease. A store of value does not change in value.
Today, digital gold exists. It's called a tradable gold certificate.
So we don't need BTC as digital gold. The bull about being digital gold is a false narrative that it can be used in money-laundering, but even gold is covered under KYC rules
CSW
Mar 12, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1584017323062900?thread_ts=1584017323.062900&cid=C5131HKFX
2/2
https://t.me/CSW_Slack/2345
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