3 ms·

Not if you create a system where it's literally impossible to redistribute wealth. If majority of tokens in a crypto system are controlled under priv-keys owned

Not if you create a system where it's literally impossible to redistribute wealth. If majority of tokens in a crypto system are controlled under priv-keys owned by a small % of the population we'll literally lock ourselves under the control of those people. Scary thing is that we won't even be able to vote ourselves out of the potential mess because the private keys are mathematically secured. Capitalism is going to have a blast!

tartoran 5y ago
Yes, it literally becomes the invisible hand that controlls the freemarket but it no longer free and no longer a market if nobody can get in. Ultimately the value we all get is exchange with eachother at a fair and stable price. The cryptospace could potentially solve this problem when the initial gold rush does some damage. In a way the attention is not bad because more people understand what it is, study it, become savy, vote legislature and deepen the field towards the problems that trully need a solution. What we want is to basically transfer work/resource tokens and make it resistant against depreciation. Lets add a simplistic example I help someone build a house and receive a fair token for that work. When I need to build a house 20 years later I pass that token, it retains the value such that someone accepts it to do the work I did 20 years prior. Because we’re mentally stuck into an outdated economic model that served ok prior to the digital age our imaginations aren’t creative enough move in the right direction. My thinking is that a direction will emerge, let’s hope it’s as far away from the possibility you talk about.
- gverrilla 5y ago
  The way I see it the obvious route is Free, but it will take a while still.
- rojeee 5y ago
  > What we want is to basically transfer work/resource tokens and make it resistant against depreciation. Lets add a simplistic example I help someone build a house and receive a fair token for that work. When I need to build a house 20 years later I pass that token, it retains the value such that someone accepts it to do the work I did 20 years prior. Because we’re mentally stuck into an outdated economic model that served ok prior to the digital age our imaginations aren’t creative enough move in the right direction. My thinking is that a direction will emerge, let’s hope it’s as far away from the possibility you talk about. Yes, I think you have the right idea. This is a credit based system, which, I think is fairer because anyone can issue credit denominated in some numeraire and it holds its value over time as long as the issuer can be trusted to “redeem” the credit. The issue with this system is that bootstrapping it is difficult and it’s quite complicated because everyone now needs to become a credit risk/reputation expert!

tartoran 5y ago

Yes, it literally becomes the invisible hand that controlls the freemarket but it no longer free and no longer a market if nobody can get in. Ultimately the value we all get is exchange with eachother at a fair and stable price. The cryptospace could potentially solve this problem when the initial gold rush does some damage. In a way the attention is not bad because more people understand what it is, study it, become savy, vote legislature and deepen the field towards the problems that trully need a solution. What we want is to basically transfer work/resource tokens and make it resistant against depreciation. Lets add a simplistic example I help someone build a house and receive a fair token for that work. When I need to build a house 20 years later I pass that token, it retains the value such that someone accepts it to do the work I did 20 years prior. Because we’re mentally stuck into an outdated economic model that served ok prior to the digital age our imaginations aren’t creative enough move in the right direction. My thinking is that a direction will emerge, let’s hope it’s as far away from the possibility you talk about.

gverrilla 5y ago
The way I see it the obvious route is Free, but it will take a while still.
rojeee 5y ago
> What we want is to basically transfer work/resource tokens and make it resistant against depreciation. Lets add a simplistic example I help someone build a house and receive a fair token for that work. When I need to build a house 20 years later I pass that token, it retains the value such that someone accepts it to do the work I did 20 years prior. Because we’re mentally stuck into an outdated economic model that served ok prior to the digital age our imaginations aren’t creative enough move in the right direction. My thinking is that a direction will emerge, let’s hope it’s as far away from the possibility you talk about. Yes, I think you have the right idea. This is a credit based system, which, I think is fairer because anyone can issue credit denominated in some numeraire and it holds its value over time as long as the issuer can be trusted to “redeem” the credit. The issue with this system is that bootstrapping it is difficult and it’s quite complicated because everyone now needs to become a credit risk/reputation expert!