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Energy as currency Options
Posted: Sunday, July 23, 2017 4:57:01 AM

Rank: Advanced Member

Joined: 4/20/2016
Posts: 2,662
Neurons: 164,077
Location: South Dublin, Ireland
I have found an interesting article about the cryptocurrency.
Allegedly, in order to control a cryptocurrency, a government would need to invest substantial energy, time, money and programmers in order to change the rules of the system.
I think that the statement above does not take into account the fact who wields power over energy resources in any country.
It is entirely dependent on the governments to decide the energy policy in the country under its control. And this is the reason I don't understand the belief held by businessmen that they can create energy backed currency without initial control, supervision, and restriction imposed by way of legislation.
It is not like the Facebook and other businesses that don't create and control inventory via a supply chain the way linear businesses do.
Platform is a business model that creates value by means of facilitating exchange between consumers and producers. But platforms don't own the means of production, they only create the means of connection. Because of it, energy backed cryptocurrency cannot be created as originated in this example from the exchange of value. While it is the government who physically creates the value that is produced.

Energy backed currency

Posted: Monday, July 24, 2017 11:33:24 AM

Rank: Advanced Member

Joined: 10/2/2015
Posts: 2,347
Neurons: 511,531
Location: Cambridge, Minnesota, United States
Hi Taurine. This is a very interesting subject because the banking and finance industries had initially said that digital currency was only for criminals and had worked to try to make it illegal.

The article shows that digital currency is becoming more attractive as industries find ways to tie their preferred resource to the currency to give it value. One of the problems with Bitcoin was that the value was tied to ethereal "compute resources", so its value was based on the horsepower of the computer doing the calculations to create the value. Now they are looking at tying the value of a new kind of Bitcoin to a physical resource, which will make it more palatable to the majority of banks and financial institutions.
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