Saturday, January 21, 2017

The null ledger service

Existing virtual coin systems will ultimately all be in the same pit, its the law of money.

We should be aware that the multi-coin world includes the simple digit and its associated S&L, ledgerless coins.  They exist in combination with a cardID, and a standard S&L trading bot.

These coins do not dominate, as they only work with the standard deposit and loan bots, all of which have been well verified to avoid forgery and double spending. And ownership is human unique via the cardID that  identifies the owner.  There is a service that can take a cardID and verify it is human attached with a recent thumbprint.

So, ledgerless  digits exist, in the pits, encrypted on the wire, and in the cards.  You cannot pay taxes with them. Not sure who puts them up, likely news sites, but they will be around, and the digits are tradeable. Just download and run, I think the default is ledgerless coin, standard S&L

Bitcoin is automatically in the pit
The blockchain system verifies ownership, meets the conditions.  So, in the worst case, the most needed to send btc around the pit might be a lite wrapper. I do not think bitcoins niche is going away, in fact, it is getting better at its niche, and becoming more lucrative.


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