>> Currencies have value only because governments force everyone to use them for paying taxes and welfare.
I used to think this but I don't anymore. Taxes are just one of multiple reasons why currencies have value. Some countries have no taxes and yet their currencies still have value.
>> Your 'tokens-as-shares' vision is flawed, because at the end of the day it devolves into a million little barter schemes
How is this different from the stock market? If you own shares of one company and you want to buy shares in a different company, you need to sell your existing shares for an intermediate currency first. It's a lot easier to do this using cryptocurrencies though (using Bitcoin as the intermediate).
Using tokens to pay for services is a proven concept; plane tickets, movie tickets, concert tickets, metal tokens for laundromats, food stamps, prepaid data quota for internet access... These are all tokens - the main difference is that they are issued by a central authority.
Cryptocurrencies open the door for universal services that have no central authority. They create an environment in which competitors can collaborate and mutually benefit through open source work.
I used to think this but I don't anymore. Taxes are just one of multiple reasons why currencies have value. Some countries have no taxes and yet their currencies still have value.
>> Your 'tokens-as-shares' vision is flawed, because at the end of the day it devolves into a million little barter schemes
How is this different from the stock market? If you own shares of one company and you want to buy shares in a different company, you need to sell your existing shares for an intermediate currency first. It's a lot easier to do this using cryptocurrencies though (using Bitcoin as the intermediate).
Using tokens to pay for services is a proven concept; plane tickets, movie tickets, concert tickets, metal tokens for laundromats, food stamps, prepaid data quota for internet access... These are all tokens - the main difference is that they are issued by a central authority.
Cryptocurrencies open the door for universal services that have no central authority. They create an environment in which competitors can collaborate and mutually benefit through open source work.