[ZS] Prestige Bitcoin

Michael Hrenka metahorse at googlemail.com
Tue May 8 07:43:02 PDT 2012

I don't know what to do about this external message from lodewijk andr
de la porte. I guess it's largely motivated by an intuitive idea of
how a "Prestige Bitcoin" idea is supposed to look like. But the
Prestige system has mechanics that need to be explained. I've done
that in the documentation on my own web space: http://radivis.com/public/prestigefluidodoc.pdf
(the paragraph about the Fluido is hardly relevant for Prestige
Bitcoin). Criticizing an idea that is not really understood is
problematic, but let me try to comment on some points:

"I think what you really want to achieve is to create another
facebook-like button, a way to measure your epeen or a donation
Prestige Bitcoin and Prestige Fluido would be all of that at once.

"It's hard to convince people that money should be decentralised, but
it'll be even harder to convince them that giving likeing should be
My plan is finally having centralised and decentralised systems
running in parallel. Both models have their advantages and

"It's either important that something earns you money or that
is really good, or both. Doing something just for the prestige of it
is pretentious and it'll prevent you from doing what you truly
I guess you are thinking about the tension between intrinsic and
extrinsic motivation. AFAIK research suggests that extrinsic
motivation based on social appreciation is much less problematic than
extrinsic motivation by money. Prestige Bitcoin (or Prestige Fluido)
would probably lie somewhere in between, because those are hybrid
systems. Unfortunately there are some problems that my system can't
solve. It's not a panacea for everything. But it's reasonable to
expect that it's less bad that the system we are working in right now.

"Having a currency prestige system is
not going to help anyone but those already popular, those who least
need it."
This is an issue that can hardly be prevented in any kind of
reputation based economy. It's still better to have a reputation based
economy in addition to our current money based economy.

"What drives you to want to engage in this project?"
In short: Creating a better kind of economy (at least as complement to
the current one). That is something that the world really needs.

- Michael

Zero State mailing list:

----- End forwarded message -----
Eugen* Leitl <a href="http://leitl.org">leitl</a> http://leitl.org
ICBM: 48.07100, 11.36820 http://www.ativel.com http://postbiota.org
8B29F6BE: 099D 78BA 2FD3 B014 B08A  7779 75B0 2443 8B29 F6BE

More information about the cypherpunks-legacy mailing list