By Larry Chiang
Deriving where money came from is like the derivation of a theorem
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Larry Chiang @duck9 (@LarryChiang) |
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I thought credit {#cs183duck9} was misunderstood. Suffice it to say that money gets people so emotional that few can even think to go do a rudimentary audit
#cs183mm #cs183fanfe #cs183audit #UoA #MoE #SoV |
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Erik Voorhees (@ErikVoorhees) |
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Most people think the US dollar has been around for a couple hundred years. In reality, it’s been around since 1971. Before that, “US dollar” was a proxy term for a specific weight of gold. The fiat dollar is just a middle-aged payment instrument with high cholesterol.
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Miko Matsumura ㋡ (@mikojava) |
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@ErikVoorhees the “fiat USD” is 48 years old and BTC is 11 years old. Great point Erik.
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Erik Voorhees (@ErikVoorhees) |
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The US dollar is already a digital currency. It runs on a blockchain with one master node called The Federal Reserve. It has no supply cap, can be reversed or created or destroyed by sub-nodes that operate under the rules of the master node. Sometimes paper proxies are printed.
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Money.
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