17 sats \ 3 replies \ @fiatbad 31 May \ parent \ on: Ecash - Bullish or Bearish? bitcoin
Yes, absolutely.
Everything I've said here should be taken as design suggestions for the Fedi team and other Federated Mint devs.
Technically, Bitcoin is just a fancy, decentralized database as well. People give the DB entries value because we recognize its use-case for money.
I'm suggesting that we don't allow ourselves to give ecash any value, based on principle. The same way we don't value shitcoins, even though they technically are similar to Bitcoin. It's the social layer that I'm appealing to here.
I'm asking the users and the devs of Mints to view ecash simply as the DB layer. To give it special value based on its decentralized properties, the way we do with Bitcoin, is akin to shitcoining.
It is very fuzzy and complicated, which is why I'm having this conversation today with people here. I'm trying to organize my own thoughts and see if others can poke holes in my arguments so I can refine them or change them.
Yes, absolutely.
Sorry, I'm a bit confused. Can you elaborate? I'm particularly interested in your thoughts regarding the point that ecash is a bearer asset, while a DB entry is not.
I'm suggesting that we don't allow ourselves to give ecash any value, based on principle.
I think I have been taking the extreme opposite view as what you say here. I'm trying to say that in the future ecash tokens may have value on their own, like shitcoins, but good ones.