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you don't fix the exchange rate, you let the market determine it. As the amount of karma increases it's possible for a value to decrease. But given how the doll
by cstejerean 19y ago
you don't fix the exchange rate, you let the market determine it. As the amount of karma increases it's possible for a value to decrease. But given how the dollar is doing, who knows what would happen.
- aneesh 19y agohere's a game theoretic explanation of why that's no good: okay, fine, let's have an exchange rate where karma gets less valuable as the amount of total karma increases. then me and my friend will upmod each other 1 karma, because we're each gaining 1 whole karma, but the devaluation we're causing is only losing us a fraction of a karma. With these incentives, everyone will upmod ... and the value of a karma point will tend towards zero.