This is an opinion editorial by David Seroy, Founder and President of Old North Capital Fund.

It is the author’s opinion that credit-based, bitcoin-backed dollars will act as the bridge connecting bitcoin, dollars, the Lightning Network, validity roll-ups, and elements of free banking in a hyperbitcoinized world.


Bitcoin and the dollar are symbiotic. Like yin and yang, bitcoin and dollars provide balance. On the one hand, bitcoin acts as a counterparty-free, decentralized, scarce, digital bearer asset to hedge against excessive credit creation. On the other hand, the free market has an insatiable desire for issuing credit-based dollars which fill the role of both a ‘stable” unit of account and an elastic monetary layer.





Source link

By unstore

Unstore.com.np : The One-stop Destination! Read the latest global news articles on unstore.com.np in english,breaking news & current latest global news headlines,local news, money and financial news,Bitcoin News,automobile news,gaming news,technology news,sports news,political news,international news,bollywood news,tech news

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.