Difference Between Bitcoin And My Digital Serialized Dollar

The following statement excerpted from this link explains that the transaction sequence in Bitcoin block chain is the basic connecting thread of the model.  In my digital dollar system it is the serialized unit dollar, each with a value of one unit dollar.

"There are two clever things about using transaction hashes instead of serial numbers. First, in Bitcoin there’s not really any separate, persistent “coins” at all, just a long series of transactions in the block chain. It’s a clever idea to realize that you don’t need persistent coins, and can just get by with a ledger of transactions. Second, by operating in this way we remove the need for any central authority issuing serial numbers. Instead, the serial numbers can be self-generated, merely by hashing the transaction."

Bitcoin transactions related to bitcoin are uniquely identified rather than the bitcoin itself.  My digital dollar system uniquely identifies the dollar (coin) itself and its current owner  and associates that dollar (coin) to an unbroken chronological history chain of every prior owner.

Bitcoin is infinitely divisible.  My Digital Dollar is not.  It is a serialized unit of 1 Digital Dollar.  The problem in my Digital Dollar model is how to process the less than dollar amounts.  Bitcoin has that same problem in its model that spends from incoming prior  transactions in the wallet each having different amounts.

The solution is the same.  Pay the higher amount. The solution to receiving change in the Bitcoin model is extremely elegant.  The require amount of change necessary to be returned is computed and two transactions are made from the owner's wallet.  One is payment of the exact amount to the recipient The other is payment in change to yourself but to a different account that you own.  The amount of change is whatever is necessary to equal the total amount of the original transaction in your wallet from which payment was made.  Elegant.  Pay yourself the change.  Reduce the amount in the the account from which payment was made both the other payee and yourself to a new amount of zero in the paying account.  Put your change back into your wallet in a new account.

In Bitcoin that would be the unit transaction or transactions total as necessary to get to the higher amount to make the payment.  Receive change in a return transaction.

In my Digital Dollar model it would round to the next highest dollar and receive change or have a change processing module in the owners wallet that would make and pay exact change.  Either method would require maintenance of a small change record and process that would give change for a dollar and move the dollar ownership to a "Change Cashier" in the system or "return" (by change of ownership)  a serialized dollar in exchange for an equal amount of small change.

The foundation of the Bitcoin model is the verb: Transaction in a block chain.  Bitcoin is a verb entity.  It is the message.

The foundation of Digital Dollar model is the noun:  DigitalDollar.  It is a noun object entity.  Both the subject entity and the object entity in the basic language logic structure of:  Subject---Verb---Object.

In the BitCoin model the verb is the fixed entity by extension of the block chain.  The noun amount is variable.

In my DigitalDollar model the noun is a fixed entity with a fixed value of one attribute.

BitCoin is process oriented focus on the message (verb)

DigitalDollar is object oriented on the dollar object.

I agree, I guess, that focus on the block chain connection of transactions obviates the need to focus on serialization uniqueness of the digital dollar object.

Another difference in comparing objects to objects is the BitCoin universe is 21 billion Dollars.  The market value of Bitcoin (in terms of what it will buy) is extremely variable over time.

The Digital Dollar universe equals, in the beginning, the National Debt, about 16 trillion dollars because our national debt is our national savings.  The market value of the DigitalDollar can be manged to be relatively stable (in terms of what one dollar will buy) over time.

 I admire the Bitcoin model and the explanation of the model that is the subject of this blog.  I wish I had an equally well consolidated description of my DigitalDollar model that is scattered amongst the blog entries I have made in this blog over the past couple of years.