Author: Tamas Blummer 2019-06-30 10:56:46
Published on: 2019-06-30T10:56:46+00:00
The email conversation between Tamas Blummer and Eric Voskuil discusses the value of coins encumbered with a covenant, representing temporary control of a scarce resource. The ability to deal with temporary control and availability of final control determine the value of such coins. In areas where final control is not available, people pay high prices to step in place of the renter in existing long-term rent contracts. Bitcoin's predominant use is already store of value, leading to unwillingness to give up final control that can resolve in two ways; increasing fiat prices for final control or dealing with temporary control, which does not have technical means yet. Tamas Blummer argues that temporary control does not have value until means to deal with it are offered, which he is working on, and might obtain value if final control is deemed too expensive or unattainable.
Updated on: 2023-06-13T19:47:23.629334+00:00