Author: Tamas Blummer 2019-06-30 20:26:29
Published on: 2019-06-30T20:26:29+00:00
In a conversation between Tamas Blummer and Eric Voskuil, the two discussed the concept of an "unforgeable register" and its utility in relation to Bitcoin. Blummer argued that the security of ownership records has a significant impact on value, and that people may be willing to pay for the utility of a register even if others believe the tokens being tracked are worthless. Voskuil questioned the utility of records that cannot be traded for something else, and argued that for something to obtain marketable value it must be both scarce and useful. Blummer countered that encumbered coins still offer the utility of using the unforgeable register, in this case a register of debt covered by reserves, which could be valuable to those who find having such a register useful. The two disagreed on whether temporary control of Bitcoin can have value, with Blummer arguing that it does if means of dealing with it are offered.
Updated on: 2023-06-13T19:45:47.591965+00:00