Author: Tamas Blummer 2019-07-02 05:08:53
Published on: 2019-07-02T05:08:53+00:00
Eric Voskuil, a Bitcoin developer, has found a utility case for encumbered coins. In the case of tracking an asset that becomes worthless at a specific time, one could value a record of ownership and the ability to trade ownership of the asset during that period. This offers a way to generate income for hodlers by temporarily giving up control. Tamas Blummer believes that some way of keeping track of ownership is prerequisite for something to acquire value and the security of that ownership register has great influence on the value. Temporary control of Bitcoin does not have value until means dealing with it are offered. The deeper utility of Bitcoin is its unforgeable register which can be used to create different kinds of units that are not fungible with common ones. If there are people who think this is a good idea, then they would find having an unforgeable register of it useful and therefore units needed to maintain that register valuable to some extent.
Updated on: 2023-06-13T19:47:34.123920+00:00