|
January 01, 2014, 10:12:52 PM |
|
At least as far as I can understand it, the benefits of using the blockchain as a kind of Digital Asset Register (DAR) through a scheme like Mastercoin or colored coins make a compelling use case. Assuming this is true, what, if anything does this imply for the market price of bitcoins?
As long as the bitcoin mining bounty plus transaction fees are valuable enough that people will be incentivized to mine them at a sufficient rate that the block chain can’t be easily compromised, then it seems to me that the block chain’s utility as a DAR wouldn’t necessarily have any direct impact on the price. On the other hand, if the block chain were widely used as a DAR, that would probably mean that bitcoins would have become widely used as a monetary unit, which implies a high value for btc.
Is my understanding correct?
|