[induetimesir]

Well said.

pegged decentralized synthetic digital bearer assets.

That's a mouthful. Each word has a purpose and together they describe a hugely innovative and valuable technology. It is my belief that there are very, very few people who have an understanding of how important this innovation is.

And too few people understand the importance of the more simple digital bearer asset, of which bitcoin is the prime example. This still surprises me, especially amongst HN readers, who are certainly more insightful than the average bear when it comes to most existing and emerging technologies...

Surprises me. but also gives me hope.

There is so much room to grow. Long road. Massive upside.

[asdfasgasdgasdg]

This is exactly what I'm talking about, though. Bearer bonds have been illegal to issue in the US for the last forty years precisely because their principle advantage over registered bonds is that they make it easier to break the law. I'm not saying I can't see the utility of Bitcoin or blockchains in general for criminals. That much is plain. Speculators as well. The question is whether there is any utility for anyone else.

[Sargos]

The government doesn't have to use it. Or like it. We don't really care what they think of these decentralized instruments. They are for us to use as we see fit and to build on top of and so far they have shown they are very useful and overall a great thing for the financial system they live in. Like you say we will find out if people find them useful but even now nearly a billion dollars is being used in defi for legal and top of the table use cases so at least some people already find it useful to them.

We are seeing a flourishing system of financial experiments being built as truly anything goes in this new digital worldwide ecosystem. Not all of the experiments will work but at least they will be tried and the market will decide whether or not they are useful and valuable to this digital society.