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RE: 100 years ago, Henry Ford proposed ‘energy currency’ to replace gold - CoinTelegraph

in Steem Links3 years ago

I think, Henry Ford was talking about "natural wealth" and the creation of energy being money. BTC does not create energy, much the opposite, it consumes energy. I do love bitcoin, and I do see the basic parallel. But electricity is a tangible thing. Before lightning network, BTC was a meme coin.

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Yeah, it is subtly different. As I understand it, Ford was basically talking about a credit system that was structured around use of a specific renewable energy source (a dam + power generating station, to begin). In contrast, bitcoin doesn't care what form of energy the miners use or who supplies it. Still, it was somewhat similar and very innovative for the time period.

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