An interesting mini doc on Etherum and a few deep questions of my own.

miggyfr (54)in #blog • 5 years ago (edited)

Hello Ladies, Gentlemen, and Bots

Watch this doc and then read a few deep questions of my own.

If countries can use blockchain transactions to avoid pentalties and sanctions set by other Governments then what does this mean?

Recently the news has been saying that USA will put sanctions on IRAN, and IRAQ, right? So if blockchain transactions cannot be traced then what does this mean?

Traditional FIAT currency is typically tied to some sort of physical asset like Gold, Diamonds, Oil, etc, right? Since cryptocurrency is tied strictly to a digital asset for example as the size of a mining farm and the speed it takes to mine one unit of crypto then what does this mean for traditional assets like Gold, Diamonds, Oil, etc?

Its intersting that USA is putting in effort to regulate crypto, meanwhile Russia is puttin in effort to leverage the fuck out of it. So again what does this mean?

The fundamental thing that always throws me off is what has more value,
1 pound of GOLD or 1 pound of Crypto? I know! Right?

if Crypto doesn't have any physical properties why is it considered so valuable?

Cool!

Just a thought

Thanks for reading.

Looking forward to discussing this with thecastle sometime.

Laters

5 years ago in #blog by miggyfr (54)

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thecastle (68) 5 years ago

The fundamental thing that always throws me off is what has more value,
1 pound of GOLD or 1 pound of Crypto? I know! Right?

Math has value and is also weightless. If you can have a 100% reliable ledger that proves all valid transactions then that in and of itself has more innate value than gold. Gold can be counterfeit. We can find more gold and thus push down its overall value.

Gold is better when the internet is unreliable or non existent. Crypto is better when we have a reliable internet.

Its interesting that USA is putting in effort to regulate crypto, meanwhile Russia is putting in effort to leverage the fuck out of it. So again what does this mean?

Not Russia. The one to be watching right now is China. China has its hands firmly in the crypto space. But yeah, sanctions are easily skirted around these days in a post crypto environment.

Decentralized architecture is automation for governments and corporations. I should make a video about this actually.

So basically how it works is,

We have robotics and AI or improved software to replace the masses. (IE the need for lots of people to do the same job)
We have decentralized architecture to replace the need for leadership. (Government and corporations. Technocracy essentially)

So while self driving trucks will cause problems for Truckers. Blockchains will cause problems for governments and corporations. Powerful individuals will begin to lose influence.

We are basically in a technological class war right now.

$0.00

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