Quote from: Ucy on September 14, 2019, 07:05:57 AM

Quote from: HeRetiK on September 10, 2019, 01:15:37 PM

Quote from: antikvark on September 10, 2019, 12:47:45 PM

In the case of gold certificates things are similar, it is just that those two stages are reversed. Namely in stage one, one party of the exchange deposits some gold at the bank and receives a certificate for it. This certificate is then traded for goods or services and in that way put into circulation. In stage two the opposite party i.e. a current holder of the certificate takes it to the bank to claim the deposited gold. Once the holder receives the gold the exchange process is finished. And this is how goods and services are exchanged with the help of gold certificates.

So the solution is easy. Just make Bitcoin certificates and use that as money. Problem solved Wink

On a more serious note, anyone can establish a rather arbitrary definition of A and then claim that B is not A because B does not fit that arbitrary definition. But there's no knowledge to be gained from that line of argumentation.

Nice one. you know exactly what the poster is aiming at. I mean with your "Just make Bitcoin certificates and use that as money" suggestion. I think it can be replicated in Bitcoin world.. why not? I think the idea will work great if it's done well by a company/startup.

OP other criticisms are bit confusing. It seems he want some kind of intermediary in Bitcoin world. That would go against the ideal of Bitcoin.

When money is in the form of a certificate, this certificate must entitle its holder to some actual thing like gold, some other commodity, or goods in general. Just printing a paper and put some letters and numbers on it, is creating nothing but a worthless piece of paper. Thus, in order for bitcoin to be real money, prior to putting it into circulation miners must store some commodity at some wearhouse so that bitcoin holders can claim it if they want.