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All of this makes me wonder how long currencies themselves will last. Effectively a monetised market is using currency exchange to compute a function where the
by moocowduckquack 13y ago
All of this makes me wonder how long currencies themselves will last. Effectively a monetised market is using currency exchange to compute a function where the currency serves as a variable to store the current state of the computation.
From this perspective, money is one of the first distributed computation networks, however given the mass of networked computation available there may be other ways of solving the distribution problem that have even less friction than a currency.
- gnaritas 13y agoIf we use it as a means of exchange, whatever it is, we're going to call it currency.
- moocowduckquack 13y agoThere are markets and systems of debt arrangements that predate currencies. Exchange is not predicated on the use of currency as a technology. Currencies have held sway for a very long time however because they are an exceedingly simple and elegant solution for a fiendishly complex problem. These days however we have a global network of universal turing machines attached to an increasingly large array of robots, and so things that are not algorithmically possible to do in a monetary system are now completely feasable and some of them may have considerably less friction.