In 2040 wedding photographers will be free. They will host the pictures on the blockchain and charge a couple pennies per photo viewing and a couple Dimes for watching the videos. The money collected from attendees watching the wedding will pay for the hosting. And if some photos of ornery Aunt Mabel aren’t viewed then the coin storing that photo can be used as money. Almost as if a crappy painting no one likes can be erased and sold as a blank canvas again.
Blank canvases have a value, but BitCoin is more like an empty plot in Manhattan which piggybacks its value from the value of the buildings around it— there’s only so much land on Manhattan island. The forced limitation is good— it causes innovation and competition.
The reason Manhattan has the best restaurants in the US is the same reason the most VALUABLE information will be stored in BitCoin-cloud. Because it’s limited so new valuable information kicks out the old worthless stuff— like 100 story buildings replaced single story homes and farms in Manhattan.
In 2040 wedding photographers will be free. They will host the pictures on the blockchain and charge a couple pennies per photo viewing and a couple Dimes for watching the videos. The money collected from attendees watching the wedding will pay for the hosting. And if some photos of ornery Aunt Mabel aren’t viewed then the coin storing that photo can be used as money. Almost as if a crappy painting no one likes can be erased and sold as a blank canvas again.
Blank canvases have a value, but BitCoin is more like an empty plot in Manhattan which piggybacks its value from the value of the buildings around it— there’s only so much land on Manhattan island. The forced limitation is good— it causes innovation and competition.
The reason Manhattan has the best restaurants in the US is the same reason the most VALUABLE information will be stored in BitCoin-cloud. Because it’s limited so new valuable information kicks out the old worthless stuff— like 100 story buildings replaced single story homes and farms in Manhattan.