302 sats \ 6 replies \ @justin_shocknet 31 May \ parent \ on: Ecash - Bullish or Bearish? bitcoin
Yes. That's how central banking came to be
May as well use gold if we want to go back to that nonsense
Avoiding what happened to gold is a big enough goal
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Early merchant banks were not centralized. That's the kind of bank I'm talking about.
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So you are unable to extrapolate?
It's the existence of bank notes that lead to central banking
ECash is a digital bank note
To call them mints or coinage is too generous, a real mint stamps verifiable metals...
ECash is by nature unverifiable, just like the paper that preceded it
It benefits nobody but the banker
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We can avoid the pitfalls of the evolution of old banking by knowing about them and choosing to avoid them. If users demand good, local banks then ecash can be useful.
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We can avoid the pitfalls of the evolution of old banking by knowing about them and choosing to avoid them
It's called Bitcoin
If users demand good, local banks then ecash can be useful.
"seriously you guys its different this time" herp derp
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It can be different if people want it to be different. I grant that getting people to want the right thing can be hard…
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