Doq Holliday
@doqholliday
24 May, 07:24
👀 Elon Musk says crypto will benefit and empower people, increasing the power of individuals over governments
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It sure can do that. I think it will have to be a brand new crypto though, maybe with a new blockchain architecture. The main cryptos now have too much wealth concentration in the hands of too few wallets, which looks a lot like the US Dollar, stock market, etc.
A crypto that can be used as a nations currency cannot fluctuate in value like all of the above mentioned. We must be able to use it for purchases exactly like a dollar. We can't have $10 be worth anywhere from $5-15 during the course of a week.
It must be infinitely scalable, where current blockchains experience diminishing returns. Every block added to the blockchain requires more processing power than the previous block.
A crypto that can be used as a nations currency cannot fluctuate in value like all of the above mentioned. We must be able to use it for purchases exactly like a dollar. We can't have $10 be worth anywhere from $5-15 during the course of a week.
It must be infinitely scalable, where current blockchains experience diminishing returns. Every block added to the blockchain requires more processing power than the previous block.
12:37 AM - May 25, 2022
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