4 ms·
Another way of saying this: When it rains, it pours. And of course this is true. For any given node in an example network, the number of incoming links to it i
by Aqueous 13y ago
Another way of saying this: When it rains, it pours.
And of course this is true. For any given node in an example network, the number of incoming links to it is the same as the number of people who have already 'vouched' for that person. Obviously, more links are given to those who already have higher credibility in virtue of being vouched for. In a social network this is true and in an economy this is true. The more incoming links you have, the stronger your 'brand,' the more incoming links you have.
More than just a currency, what BitCoin offers is the most complete data on any economy. In no other economy is a complete record of every transaction, and every amount of every transaction, available. I wouldn't be surprised if BitCoin's economy becomes an extremely popular laboratory for academic economists to study actual, real-life economic effects with great precision.