naval on Nostr: Long term, we need private money or it just gets traced / taxed / seized by the state ...
Long term, we need private money or it just gets traced / taxed / seized by the state anyway.
But truly private money makes for a bad store of value. You can’t audit the ledger, so a bug could create unlimited inflation that would be hard to detect.
So privacy is how you move money, not necessarily store it.
Published at
2024-07-14 23:18:56Event JSON
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"content": "Long term, we need private money or it just gets traced / taxed / seized by the state anyway.\n\nBut truly private money makes for a bad store of value. You can’t audit the ledger, so a bug could create unlimited inflation that would be hard to detect.\n\nSo privacy is how you move money, not necessarily store it.",
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