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|User Info||Defend The Difference, Please; entered at 2018-11-06 18:10:16|
Pancake, as in banhammered flat as?
I view blogs as a salon, where the point is to encounter interesting arguments you haven't heard before. The US government imposes gun control on cryptography, because it recognizes crypto has military utility. I claim that protecting trade behind crypto is a self-defense strategy which can prevent organized criminals from cost-effectively parasitizing it. It is a military strategy which imposes military costs on attacking forces. We could talk about estimating the numbers in that military analysis.
Bitcoin is an accounting system, able to move token counts from one account to another. The problem is assigning meaning to those token counts. Bitcoin and similar have split the communication function of money from the value storage function. Bitcoin doesn't do the value storage function well, as Bitcoin has no utility aside from the communication function of money. I think Bitcoin or a replacement needs a mint mark, so it can become a warehouse receipt for a commodity held by a specific warehouse. That warehouse could be an existing distributor of steel beams or copper wire; the electrical metal silver; or the electronics metal gold.