Quote from: larry_vw_1955 on Today at 01:30:20 AM

but what if the asset is able to move along with the cryptocurrency? unlike gold.

If only we had such an asset that could be moved trustlessly and cheaply across borders, that is, in a peer-to-peer manner without having to have intermediaries or trusted third parties, an asset that would have a provably limited and completely auditable supply, that asset perhaps could be said to be an ideal backing tool to provide some value to a cryptocurrency such as Bitcoin. But. On the other hand, we wouldn't need cryptocurrencies at all since all financial transactions and exchanges could be made using this magical asset. The fact that we obviously have no such asset, let alone that we can't even conceive of a physical commodity that would behave like a digital one, makes "unbacked" bitcoin an important and inevitable thing. In the information age, data or information itself should be used to transfer value between individuals and businesses. The information that is scarce by design is a special class and should be used as money since this kind of information has credible monetary characteristics that will provide efficient and comprehensive economic relations.