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If you have a currency that can be generated via compute power the incentive structure it creates is to take over as much compute power as you can. Does the inc

If you have a currency that can be generated via compute power the incentive structure it creates is to take over as much compute power as you can. Does the incentive structure represent a serious design flaw in the system for widespread adoption?

SuoDuanDao 8y ago
I would say it's a consequence of computer power becoming commoditized - the flaw might be that using computer power in the past can be 'stored', unlike hijacking someone else's computer and renting it out as server space, there's a point in this kind of crime where one has the profits and got away with it. I just had this thought and want to get it down, apologies for the rant: I suspect that philosophically, the basic measure of our economy has been units of energy, but it's transitioning to units of power. The 'subscription model' most businesses are transitioning to seems to be an early recognition of that fact. Server space, similarly, isn't really something one can store as easily as gold or gasoline - it's only valuable while in use and degrading whether it's in use or not. Our whole concept of currency may be based on an idea of 'stored' value, analogous to swapping joules, while we should be thinking about 'sources' of value - swapping watts. I think the trouble is that renting (or hijacking) servers is accounting in terms of watts, while currency is accounting in terms of joules. The accounting of the two types of approaches may not be as easily reconcilable as it seems at firs.
- Tae3cahN 8y ago
  I think both types of currency are important. Humans have basic needs which need to be met in the shape of atoms and joules which are quite storable. We also have luxury wants which translate better to watts. This separation might also be useful in the context of UBI schemes. And more generally I have a gut feeling, but can't quite substantiate, that many fairness problems stem from using the same currency for both, forcing the lower classes to work multiple jobs just to make basic needs while the haves compete with them just to improve their lifestyle and status.
  - SuoDuanDao 8y ago
    Fascinating! That makes excellent sense.

SuoDuanDao 8y ago

I would say it's a consequence of computer power becoming commoditized - the flaw might be that using computer power in the past can be 'stored', unlike hijacking someone else's computer and renting it out as server space, there's a point in this kind of crime where one has the profits and got away with it. I just had this thought and want to get it down, apologies for the rant: I suspect that philosophically, the basic measure of our economy has been units of energy, but it's transitioning to units of power. The 'subscription model' most businesses are transitioning to seems to be an early recognition of that fact. Server space, similarly, isn't really something one can store as easily as gold or gasoline - it's only valuable while in use and degrading whether it's in use or not. Our whole concept of currency may be based on an idea of 'stored' value, analogous to swapping joules, while we should be thinking about 'sources' of value - swapping watts. I think the trouble is that renting (or hijacking) servers is accounting in terms of watts, while currency is accounting in terms of joules. The accounting of the two types of approaches may not be as easily reconcilable as it seems at firs.

Tae3cahN 8y ago
I think both types of currency are important. Humans have basic needs which need to be met in the shape of atoms and joules which are quite storable. We also have luxury wants which translate better to watts. This separation might also be useful in the context of UBI schemes. And more generally I have a gut feeling, but can't quite substantiate, that many fairness problems stem from using the same currency for both, forcing the lower classes to work multiple jobs just to make basic needs while the haves compete with them just to improve their lifestyle and status.
- SuoDuanDao 8y ago
  Fascinating! That makes excellent sense.