Wednesday, February 15, 2017

Asset backed Bitcoin S&L, some more ideas

The sandbox can run with an S&L yhaty is backed by bitcoin off the ledger.  Probability says, if we guarantee the bit error tends to zero over a finite sequence, then that is as good as conserving bitcoin. The system allows a few bitcoin holders to put at risk some whole bitcoins, back up the S&L bit error function.  You get your bitcoins back, almost everywhere, it the almost that is the risk, almost is where economies grow and shrink.  The bitcoin ledger is preserved, but some bitcoins will exchange places, that is the point of growth and decay.

Bitcoin is not socialist, you have bitcoin you share currency risk or pricing won't work.

No comments: