Beanie babies are not:
- Easily tradeable across national borders or space and time
- Fungible (i.e., one beanie baby is not equal in unit to another)
- Limited in number (i.e., scarce)
- Easy to secure
- Compact
The best crypto is simply an electronic form of three-entry accounting + "sound" money (i.e., not infinitely printable, not controlled by a central issuing authority).
Deliberately failing to understand this doesn't make you clever.
Beanie babies are not:
* Easily tradeable across national borders or space and time
* Fungible (i.e., one beanie baby is not equal in unit to another)
* Limited in number (i.e., scarce)
* Easy to secure
* Compact
The best crypto is simply an electronic form of three-entry accounting + "sound" money (i.e., not infinitely printable, not controlled by a central issuing authority).
Deliberately failing to understand this doesn't make you clever.
I'm familiar with double-entry accounting. What"s triple entry? Is that double entry + public ledger to prevent double-spends/fraud/etc?
I'm familiar with double-entry accounting. What"s triple entry? Is that double entry + public ledger to prevent double-spends/fraud/etc?
Yep you got it. A third entry maintained without needing to trust an entity to maintain it.
Yep you got it. A third entry maintained without needing to trust an entity to maintain it.
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