Post
Topic
Board Altcoin Discussion
Re: IOTA - Permissioned ledger Russian extortion scheme
by
kiklo
on 16/04/2016, 01:06:50 UTC
New post to better articulate why permissioned ledger, closed entopy systems likely have no value:

You are really hooked on the word permissioned to the point of a useless obsession.  Wink

Example:
The US dollar could be considered a permissioned system , since the Government Prints it and then disburses it thru the banking system to the consumer.
If your above statement in red was accurate, then it would have 0 value and be ignored.
But in the Real World , Value is agreed upon by both parties during the exchange of goods & services.
If I don't feel the US $ value is high enough , I raise my rates or request payment from another system such as Gold, Yuan, or others.
So your statement likely have no value is false & misleading.
Every System is permissioned based, including your precious BTC.  Smiley

 Cool