This afternoon was my first learning of programmable digital currency. I had just listened to a lengthy conversation about the possible (perhaps deliberately planned) explosion of interest rates expected to result in the current tampering, both national and global, expected by many to result from the extreme fiscal and monetary shocks triggered by the famous Big Beautiful Bill expected to be signed by President Trump tomorrow morning.
[Here is the link to Richard Wolff & Michael Hudson: Trump's "The Big, Beautiful And The Ugly". These are two of my favorite people and their appearances on Nima's place are always delightful and smart.]
[Here is the link to Richard Wolff & Michael Hudson: Trump's "The Big, Beautiful And The Ugly". These are two of my favorite people and their appearances on Nima's place are always delightful and smart.]
No one in the conversation mentioned bitcoin. But as they described the historic monetary shocks of the past and how they affected the social disparities between wealthy and poor people often resulting from sudden fiscal and/or monetary disturbances I was reminded of digital currency.
As my imagination wandered I remembered stories about fortunes made and lost in connection with bitcoin and a quick search just now spit out this interesting bit of AI wisdom:
What if you put $1000 in Bitcoin 5 years ago?
- 5 years ago: If you invested $1,000 in Bitcoin in 2020, your investment would be worth $11,748.
- 10 years ago: If you invested $1,000 in Bitcoin in 2015, your investment would be worth $408,108.
- 15 years ago: If you invested $1,000 in Bitcoin in 2010, your investment would be worth about $1.07 billion.
Leaving a comment in the discussion section following the video I mentioned my suspicion that there may be some connection between deliberate efforts to stir the global fiscal pot in a way that people with access to the right technology might well be planning sudden fortunes. (That would make tulip bulbs unimaginably quaint.)
That's when someone replied that programmable digital currency might well be the medium of exchange in the future. I never heard of this, so I did some homework and thus far this is what I have turned up.
[This copy and paste method works pretty good with AI. I suppose as long as I reveal what I'm dong I'm not doing anything illegal.]
Programmable currency refers to digital money with embedded rules and conditions that govern its usage, often implemented through smart contracts on a blockchain.It allows for automated financial operations and the execution of transactions based on predefined logic. This concept enables various applications, including conditional payments, automated processes, and enhanced regulatory compliance within transactions.Programmable currency exists as digital or tokenized representations of value, rather than physical cash.
Welp. That's as far as I have come this afternoon.
I have been planning to stop blogging because it's so old-fashioned, but this seems to be a good way to keep personal notes.
And since my blogs have always been public (and advertisement-free) somebody might want to check it out and leave a message.
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