2014-03-30 23:26 GMT+02:00 Bryan Bishop
because it quantifies explicitly the role individuals have in collective economic activity, and thereby gives a method for explicitly holding persons proportionally responsible (in both credit and blame) for their contributions to that activity.
This sort of mechanism is explicit with the corporate structure. The suggestion that "Payout% = responsibility%" is highly simplified compared to the current real-world complexity. Not to mention that usually payout means everything is A-Okay.
But I think that's a much more radical proposal than the one I've offered for Strangecoin, and I should probably only be defending that here. =)
Yeah. Because I really don't see the interesting properties emerge from Strangecoin as described. Bitcoin has this issue where people think it's things it's not. In money human perception is vital. Yet (economic) reality eventually persists trough any veil of beauty. Strangecoin *seems *to have nothing but very a-typical properties. Afterwards you seem to describe some properties you'd really like to see. I cannot judge how well you achieved them. Even when you've modeled a good ideal-world, there's still the journey there. With Bitcoin the journey is pretty solid (we're seeing it). The final situation is a subject of much speculation. I suspect Satoshi just checked his own value in the final situation and decided "Awh, what the hell", given it can't go wrong. So, does Bitcoin have any desirable (inherent) property except that it'll spread? Maybe, but it would only be that of cold-hearted economics. The kind humans are exceedingly bad at. Human Failure, much more than economic failure, causes current situations. Human Failure is encouraged by soft-economics, as it reduces the penalty for failure. Things like picking the wrong bank, not spreading risks, etc. There's no course in primary school for evading Human Failure in this aspect, even though it's the very core of humanity's current existence. Any speculation as to why? Either way, no currency alone will solve Human Failure. Even if Strangecoin would have very nice properties there will be misunderstanding of it, and it will be applied wrongly in nearly every situation. It will fail less than it should, because the "brick wall" that should be hit will also have the same misconceptions about finance.