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<p>[QUOTE="-jeffB, post: 3717333, member: 27832"]Great post!</p><p><br /></p><p>I recognize the "something you have/something you know/something you are" trinity from information security, but I don't see it as a useful criterion for <i>money</i>. It seems to me that money, most fundamentally, has to be something that <i>can be exchanged</i>.</p><p><br /></p><p>You can easily exchange something you <i>have</i>. Give it to another person, and now they have it, and you don't.</p><p><br /></p><p>How do you <i>exchange</i> something you <i>know</i>? Give it to another person, and now you <i>both</i> know it.</p><p><br /></p><p>Worse yet, how do you exchange something you <i>are</i>? I'm not interested in giving away any fingers or other body parts, and while I can keep producing more DNA as long as I'm alive, I'm not sure I can see it as a medium of exchange. (I guess you could view my kids as some sort of merger/spinoff...)</p><p><br /></p><p>And as I think about it, I don't believe the blockchain falls under <i>any</i> of these categories. <i>Maybe</i> "something you know", but it's the <i>aggregate</i> and <i>publicly known</i> information that gives it value.</p><p><br /></p><p>Like I said, great post![/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 3717333, member: 27832"]Great post! I recognize the "something you have/something you know/something you are" trinity from information security, but I don't see it as a useful criterion for [I]money[/I]. It seems to me that money, most fundamentally, has to be something that [I]can be exchanged[/I]. You can easily exchange something you [I]have[/I]. Give it to another person, and now they have it, and you don't. How do you [I]exchange[/I] something you [I]know[/I]? Give it to another person, and now you [I]both[/I] know it. Worse yet, how do you exchange something you [I]are[/I]? I'm not interested in giving away any fingers or other body parts, and while I can keep producing more DNA as long as I'm alive, I'm not sure I can see it as a medium of exchange. (I guess you could view my kids as some sort of merger/spinoff...) And as I think about it, I don't believe the blockchain falls under [I]any[/I] of these categories. [I]Maybe[/I] "something you know", but it's the [I]aggregate[/I] and [I]publicly known[/I] information that gives it value. Like I said, great post![/QUOTE]
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