DIGITAL ASSET WITHOUT AN ISSUER

It is a digital asset without an issuer, everybody understood the whole idea of it being the creation of digital assets without an issuer. A lot of people have different opinions about whether or not blockchain has achieved it. The others are just running software databases, and the idea of smart contracts can be achieved on software. You can basically run smart contracts on software, you can carry them out on browsers, servers, and iPhones. You don't have to use much electricity, you can do it on your phone and PC.

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That tells you that there is no innovation there, I think innovation is the creation of a digital asset without an issuer. Bitcoin is decentralized because it has no one to dictate what will happen on the blockchain while on the other hand Ethernet has someone like Vitalik come out to say what they intend to do. A decentralized network does not have any to dictate what will happen on the network next. No wonder why Satoshi vanished, the creation of a digital asset without an issuer is the innovation.

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If you created a digital asset without an issuer, you have basically created a commodity but that does not mean you have created a digital scarcity. If you want to create digital money, do not only want digital money but also digital scarcity. Bitcoin is actually a commodity because the stock flow ratio is within the limit. It longer news, we already know what the end of its mining will be. When Bitcoin reaches a 21million, it will be completely scarce.

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I don't know whether dogecoin is fully decentralized or whether it has someone who influences it. They can consider a digital asset to be a commodity if you fork it, release it, and vanished just like Satoshi did. If you fork it and remove the halving, it will continue to inflate. That digital asset is a commodity but not scarcity and it is called weak money. If you submit your network to SEC or CFTC to check whether or not is a commodity, they will probably say yes because it has no pre-mined, ICO, or issuer. The problem is when you give yourself an ICO or 20% of the supply because it will no longer be called a commodity.