Re:Blockchain in a Nutshell
by once_inc on Wednesday May 11, 2022 @07:05AM
(#31338226)
bit late, but: real estate and stocks (and most gold) isn't held sovereignly, but in vaults, managed by gatekeepers. I own some stocks though a platform that manages it for me. They can force me off their system at a moments notice. Real estate is managed by the government. They can also take it away.
The first counter-argument would be that we have laws and procedures that protect most people from such actions, which is mostly true. There are however a number of clear examples where either the government or society underwent rapid change which allowed for these assets to be seized (think: revolutions, exectutive order 6102, etc).
Bitcoin (not crypto -> bitcoin) solves this through offering you the option or sovereignly hold an asset outside the control of anyone who doesn't have the private keys.
The first counter-argument would be that we have laws and procedures that protect most people from such actions, which is mostly true. There are however a number of clear examples where either the government or society underwent rapid change which allowed for these assets to be seized (think: revolutions, exectutive order 6102, etc).
Bitcoin (not crypto -> bitcoin) solves this through offering you the option or sovereignly hold an asset outside the control of anyone who doesn't have the private keys.