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Author Topic: The Future of Cryptocurrencies - Virgin Media  (Read 1668 times)
Jungian
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October 22, 2015, 06:44:40 PM
 #21

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3) I could't find "deconstructing currencies" by Michael Mainelli(?). Please point me in the right direction if that is possible!

Here's your link http://www.gresham.ac.uk/lectures-and-events/taking-modern-money-apart

As for energy consumption, there are two more things to mention. First, it will always increase with the increase of market cap as there is excess value to capture. Second, no one is accounting for the embedded energy costs incumbent to the manufacturing and shipping of ASICs, which is non-trivial.

As for bitcoin maximalism, I do no agree with Paul's arguments. If they were valid then all countries would use the same currency. Altcoins do not leak value from a mainchain, they add new robustness to the ecosystem and thus bring in more people. Value comes from people. It's not a magical intrinsic property.


Thank you for the link!

Regarding every country having the same currency. Well, that would probably by optimal for the free market, would it not? And it would also be the likely outcome if you were free to use any currency you wanted in your region? The only reason to have your own state currency is to be able to centrally control it. That's why you are legally forced to pay taxes in your local currency and also forced to accept it as payment for debts.

I'm hard pressed to find an argument why any individual citizen would benefit from having a specialazied currency that is only bound to a certain geographical region.

I think Monero (XMR) is very interesting.
https://moneroeconomy.com/faq/why-monero-matters
charleshoskinson (OP)
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October 22, 2015, 10:02:49 PM
 #22

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Thank you for the link!

Regarding every country having the same currency. Well, that would probably by optimal for the free market, would it not? And it would also be the likely outcome if you were free to use any currency you wanted in your region? The only reason to have your own state currency is to be able to centrally control it. That's why you are legally forced to pay taxes in your local currency and also forced to accept it as payment for debts.

I'm hard pressed to find an argument why any individual citizen would benefit from having a specialazied currency that is only bound to a certain geographical region.

This is a classic case of the resiliency benefits of diversity versus the efficiency gains of standardization. When one adopts a single paradigm, you can optimize around it and usually have a lot more speed in building things on top of the standard; however, mistakes, edge cases, black swains and other such things cause cascading failure. I would highly recommend reading this essay: https://idcubed.org/chapter-7-complementary-currencies-necessary-financial-stability-scientific-evidence/ I do enjoy systems theory and feel its heavily underused in economics.

I think for the sake of stability and robustness the focus should be on digitizing all notions of value as tokens and then making the flow between them easy. Then we can talk about having a universal wallet that has allocations of tokens representing various stores of value and you get to decide the composition. This effort would result in basically total monetary freedom and a free market of paradigms. The best system ought to experience the highest level of adoption and use. The point is that we can now choose where before it was impossible to even consider.

The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
SwagGirl
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October 26, 2015, 11:24:30 PM
 #23


Great read.

I really believe the future of cryptos will be tied to the fact that we wiil always have one coin to rule them all, while the big market of hundreds of other altcoins will work as fine tunning for the ruling coin. Other than that, the blockchain technology will be used in a lot of applications in the future.



look how many different car types / mfg's there are.
BantamSystems
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December 18, 2015, 07:28:52 PM
 #24

"Machines will be arbitrating in court"

I've always said that the blockchain has opened the doors to the second machine age. Complete machine autonomy is now not only possible, but a reality

Great read Wink
BirtRenaldsFan
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February 19, 2016, 10:35:29 AM
 #25

Almost all cryptocurrencies are becoming pretty in contact with each other. They're really becoming in competition but Bitcoin has always been on top.
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February 19, 2016, 02:58:33 PM
 #26

Almost all cryptocurrencies are becoming pretty in contact with each other. They're really becoming in competition but Bitcoin has always been on top.
yes that's true,no doubt,i just wonder how can cryptocurrencies defend from bankrupt and always have member or people who love their crypto,this is what bitcoin dont do,bitcoin dont need it i think.

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btcltccoins
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February 19, 2016, 03:57:41 PM
 #27

The digitization of identity will get revved up over the next two to five years. As per the article Charles was a founder of two of the most important companies in the bitcoin space – Ethereum and Bitshares. He is now CEO of fintech start-up Input-Output, as well as being one of the most articulate people in the world on the subject of bitcoin and bitcoin tech.

You may have to listen to his interview twice to take it all in.
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