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Mark_Friedenbach comments on Look for the Next Tech Gold Rush? - Less Wrong Discussion

34 Post author: Wei_Dai 19 July 2014 10:08AM

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Comment author: [deleted] 21 July 2014 04:38:33AM 1 point [-]

Lack of counter-party risk. There are a variety of mostly technical reasons why it is desireable that fees be paid in a peer-to-peer issued currency vs a central-party issued currency. For example, if there are multiple competing currencies in use (e.g. usdcoin and eurocoin, or more likely bitstampusd vs bitreserveusd), then a p2p currency like bitcoin provides a neutral platform for setting fee policy.