I’m trying to wrap my head around how the condo I just bought (1 of 10) could be used as backing for crypto. I’m not saying this is impossible, I could absolutely see this being a part of our future economy.
If your condo was tied to an NFT it would be a unique digital asset that could be traded in a market. If ownership of the condo was tied to ownership of the NFT then "selling" your condo would be as easy as trading it for whatever someone would be willing to offer in some crypto market. Like, you could trade your condo for another piece of property tied to its own NFT. You could trade it for whatever the standard intermediary is (gold or silver e.g.). You could trade it for 100 shares of General Motors (not a recommendation, just a hypothetical). Such a trade would be easy in such a market. This is the type of economy I am describing; asset backed crypto instead of faith backed crypto and a market place for the exchange of them.
In such a system I think there needs to be a standard intermediary for barter, i.e. a stable baseline, but it can't be the only possible exchange medium or we run into potential manipulation, i.e. an exploitable weakness. This larger system I am describing as a barter system eliminates one of the largest historical exploitable weaknesses; the hording of money. Hording of money was the real reason the western Roman Empire fell, i.e. it was money manipulation by the bankers. This shit has been going on, by the same group of people, for a very long time.
my money is on it being a monumental success long term.
It depends on how much of it is controlled by We The People; same with everything else.
If your condo was tied to an NFT it would be a unique digital asset that could be traded in a market. If ownership of the condo was tied to ownership of the NFT then "selling" your condo would be as easy as trading it for whatever someone would be willing to offer in some crypto market. Like, you could trade your condo for another piece of property tied to its own NFT. You could trade it for whatever the standard intermediary is (gold or silver e.g.). You could trade it for 100 shares of General Motors (not a recommendation, just a hypothetical). Such a trade would be easy in such a market. This is the type of economy I am describing; asset backed crypto instead of faith backed crypto and a market place for the exchange of them.
In such a system I think there needs to be a standard intermediary for barter, i.e. a stable baseline, but it can't be the only possible exchange medium or we run into potential manipulation, i.e. an exploitable weakness. This larger system I am describing as a barter system eliminates one of the largest historical exploitable weaknesses; the hording of money. Hording of money was the real reason the western Roman Empire fell, i.e. it was money manipulation by the bankers. This shit has been going on, by the same group of people, for a very long time.
It depends on how much of it is controlled by We The People; same with everything else.
Yes! That sounds like a path forward to me. Fuck the banksters.
Last point is on point.