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General Discussion / Re: DACs vs. Firms (Are DACs useless?)
« on: June 11, 2014, 03:23:30 pm »
* We need a blockchain that can handle 1000x TC's transaction volume (bandwidth) at some given time for the purpose of currency exchange
* We need a blockchain that can handle 1000x TC's storage at a given time for the purpose of domain name record storage
So these two only work if resources available >> resources needed, but for any given resource bound there is a range where the specialized one can succeed and TC can't.
When you say TC, are you referring to Truthcoin? If so, I don't know what you mean, becase it doesn't exist, nor does it (yet) have transaction volume or storage specifications.
Are you claiming that all possible incentive structures that need control over their token can be somehow simulated with PMs?No.
I think you're completely missing the point of what I am trying to say. I am saying that the use of a blockchain vs a piece of software depends on the idea of digital scarcity, so that there's no need to apply that technology (which could be designed in many different transaction volume / storage specifications) to anything else. Money and escrowed funds are digitally scarce. Probably, domain names are as well.
But if you'd want to attack the "must be digitally scarce" argument, you'd have to come up with a blockchain use that didn't involve digital scarcity. What you're doing now is like saying that we need more than 26 English characters because Shakespeare did not use the latest version of Microsoft Word.