I think it’s more like: I have some paper that says I own 50% of a box T. People are willing to pay up to 10 cents to get 1% of that box T, so if I gave my paper to them, they’d give me $5.
I want to buy another box X for $1, so I go to a bank and ask for $1. To make sure I pay, I give them a paper saying they can take 10% of my original box T if I don’t pay them back.
I build another box A and people get excited. They say they’ll pay 5 cents for 1% of it, and I have a paper that says I own most of it.
Time passes and the amount people are willing to pay for the boxes changes, and at some point people are close to not believing box T is worth 10 cents per 1%. If that happens, the bank will want their 10%!
To prevent that, I decide to sell box X to box A. I pick the price I want for the sale, but the important part is that I make sure box A writes a new paper saying that the bank now has to get 20% of box A if box A fails to pay them, not box T anymore.
In the end, I can’t say I own box X anymore, but I never cared much for it. I only bought it as a meme. That’s okay though, because I don’t need to give any of my box T to the bank, and people are willing to pay 8 cents for 1% of my box A since it now owns box X too.
I build another box A and people get excited. They say they’ll pay 5 cents for 1% of it, and I have a paper that says I own most of it.
Time passes and the amount people are willing to pay for the boxes changes, and at some point people are close to not believing box T is worth 10 cents per 1%. If that happens, the bank will want their 10%!
To prevent that, I decide to sell box X to box A. I pick the price I want for the sale, but the important part is that I make sure box A writes a new paper saying that the bank now has to get 20% of box A if box A fails to pay them, not box T anymore.
In the end, I can’t say I own box X anymore, but I never cared much for it. I only bought it as a meme. That’s okay though, because I don’t need to give any of my box T to the bank, and people are willing to pay 8 cents for 1% of my box A since it now owns box X too.