Automate bank runs 😎 
Discussion
Does this mean that in the near future we can have money that:
-Is as scarce as Bitcoin
-Is unforgeable
-Perfectly fungible
-Globally transmissible at the speed of light
-As private as physical cash
-AND it is impossible for the issuer to rug you?
Am I understanding this correctly?
Sounds too good to be true. Utterly amazing! Incredible!
Imho this scheme would only make sense if the wallet software that holds the user's tokens gets automated to do the periodic "bankrun". It would be unacceptable if the tokens have a "expiry date" because the user misses the deadline to exchange tokens to the new epoch-keyset.
Wallets do that already. Tokens can't have an individual expiry date because that would make them traceable. You can hardly miss a deadline because multiple inactive keysets can coexist for a very long time.
This is beautifully simple
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