Author: Tamas Blummer 2019-06-30 18:35:33
Published on: 2019-06-30T18:35:33+00:00
In this email conversation between Eric Voskuil and Tamas Blummer, they discuss the market value of Bitcoin. Voskuil argues that for something to have marketable value, it must be both scarce and useful. Blummer counters that there is a deeper utility to Bitcoin than just being able to trade it for something else; namely, its unforgeable register. Blummer also suggests creating other kinds of units through covenants that are encumbered but not fungible with common ones. Voskuil expresses doubt that encumbering units with debt covenants would make them valuable, but Blummer argues that people who find it a good idea would value having an unforgeable register of it. They go back and forth on the distinction between temporary and final control of Bitcoin, with Voskuil stating that temporary control implies the possibility of value while final control makes it worthless. Blummer responds by clarifying that he meant control of entries in the register, which he believes is the deeper utility of Bitcoin.
Updated on: 2023-06-13T19:45:36.801568+00:00