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It's not "internet points", it's simply a way to more easily measure how much data you've contributed to comma's database. Fundamentally, that data is only valu
by roymurdock 9y ago
It's not "internet points", it's simply a way to more easily measure how much data you've contributed to comma's database. Fundamentally, that data is only valuable to insurance companies, which are already willing to pay you ~$160 (in lower insurance rates) for a year's worth of driving data.
In theory Hotz could (and should) just pay you directly in $USD for your driving data, arbitraging a bit off the top before selling it to insurance companies.
But the genius of him "paying" you in cryptocurrency is that it will get you to give it away for free "points"! And to pay him for the hardware to do so! Because you think that a market might develop around these "points" where they will get bought up by a bigger fool, pumping up their value way beyond their fundamental value to the end consumers of this data - insurance companies.
These "points" have no other value or use, as they would not otherwise function as currency (store of value, medium of exchange, unit of account) unless Hotz decoupled point generation from car data generation and just started minting an arbitrary virtual currency.