kpeace on Nostr: This is a valid point. Another valid point is that #bitcoin has no intrinsic value. ...
This is a valid point.
Another valid point is that #bitcoin has no intrinsic value.
In other words, Bitcoin is fiat, just democratic fiat. A huge improvement over government fiat, but still fiat.
So how do we bridge the gap? I don't have a solution, bit I have some ideas.
1. A stock exchange where #monero /or another Privacy Respecting Blockchain Token) is used as a payment to handle the transaction. The PRBT will be the equivalent of ether gas payments. The value of the PRBT will quickly be linked to the value of a transaction on the exchange.
2. Gold will be an easier way to start this stock exchange. It is protected under the constitution and some states are in the process of making it money again.
4. Gold storages will put some gold in a special on site custodial and that gold OWNERSHIP will be exchaned. Using smart contracts Gold can be given in exchange for gold bonds.
Gold investors will first buy gold in the Blockchain, exchange them for gold bonds and gain intrest. Each such exchange will require some "gas" in PRBT.
5. Redeeming the gold will be subjected to the laws where the gold is stored.
6. Brokers can swap gold from storage a to gold from storage b. Creating a Universal Gold Token.
7. This is basically a dual / multi currency proposal. Gold as the intrinsic value and a PRBT as a derivative value of the exchange
Another valid point is that #bitcoin has no intrinsic value.
In other words, Bitcoin is fiat, just democratic fiat. A huge improvement over government fiat, but still fiat.
So how do we bridge the gap? I don't have a solution, bit I have some ideas.
1. A stock exchange where #monero /or another Privacy Respecting Blockchain Token) is used as a payment to handle the transaction. The PRBT will be the equivalent of ether gas payments. The value of the PRBT will quickly be linked to the value of a transaction on the exchange.
2. Gold will be an easier way to start this stock exchange. It is protected under the constitution and some states are in the process of making it money again.
4. Gold storages will put some gold in a special on site custodial and that gold OWNERSHIP will be exchaned. Using smart contracts Gold can be given in exchange for gold bonds.
Gold investors will first buy gold in the Blockchain, exchange them for gold bonds and gain intrest. Each such exchange will require some "gas" in PRBT.
5. Redeeming the gold will be subjected to the laws where the gold is stored.
6. Brokers can swap gold from storage a to gold from storage b. Creating a Universal Gold Token.
7. This is basically a dual / multi currency proposal. Gold as the intrinsic value and a PRBT as a derivative value of the exchange