World Wide Web: “Wow, What Went Wrong With WeWork?”

What’s not to smile about!
This is where I keep my WeWork prospectus
  • Monetary Value, generally defined as that “number” in “currency” that a person, business, or a market, places on a resource, product, or service. It could be a glass of beer, or an equity security, or anything else you pay for in “currency” which forms the recorded basis of the exchange.
  • Intrinsic (aka Fundamental) Value, is the “true, inherent, and essential value” of an asset independent of its market (monetary) value. Many well-known representations of this metric — discounted cash flow, price-earnings multiples, et al.
  • We accept the merits of the decentralised ledger argument, and the attraction of creating a low-cost, borderless, trust-less, value transaction architecture;
  • We accept that “proof for work” consensus architecture of Bitcoin (validation via unlimited dispersed mining) is a clunky mechanism not really suited to large scale payment applications (e.g. like Visa/MC volume);
  • Other digital payment mechanisms will inevitably permeate — be they Libra, or WePay, or AliCoin, some monstrous Amazon creation with horns and sharp teeth, or whatever else crops up;
  • At this point in the technology cycle, all these mechanisms will be focused more on maintaining or building market power in an existing (different) business; reducing costs by avoiding (currently) bank controlled payment mechanisms; and so be based on “proof of stake” consensus (e.g. Libra Association), which does enough to gain current market acceptance, but does not match Bitcoin’s proof of work consensus purity for trust-less transaction validation.
  • We’ll also stipulate that Bitcoin is not (acknowledging some bad actors) a mechanism specifically designed for money laundering, drug smuggling, terrorist financing, child (or adult) porn, car re-birthing, or various other nefarious activities. That mantle is currently held by our esteemed regulated banks and cash/fiat payment providers (oh, and Government-sponsored gambling and gaming systems, but let’s not talk about that because Government needs the money), who seem dead keen to hold on the that №1 spot by frustrating or slow-walking efforts to promulgate digital transactions which have more transparency and traceability. Who knew our esteemed banks would do that, right? But hey, if you can get away with charging your first home buyer a credit card rate of 20%, when that outstanding is secured by an all-monies first mortgage on their home, why change — KPIs and all that, right?
  • And finally, we’ll stipulate that there are many countries who have recognised the logic, attractiveness and inevitability of decentralised, digital payments, and have or are adopting a welcoming environment by providing a regulatory and commercial structure to enable new business and technologies to locate there with confidence.




A New Standard in Digital Asset Exchanges

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A New Standard in Digital Asset Exchanges

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