Journal epSos-de's Journal: The information inequality.
The information inequality is a basic concept in price building. The people who know the real value, get the best price. Others have to guess and are often tricked, because they have no information about the product or value or competition or alternatives, etc.
In case of Money, the information inequality is in favor of early adopters or anyone who adopts it before the others. It is not very fair to the people who have no chance to get it for cheap as it was the case of 2009, when none of us got it for almost free at that time.
The information is also in favor of the coders, who understand the algorithm to the last bit. Anyway, as of now I see Money as a very exotic animal. It is money, it is investment and it is like stocks at the same time. We have never seen something like this in history before.
The use of Money as money and as investment is very compelling. It is not going to replace real money as of now, because the transaction limit of the network is lower than the number of the daily transactions of the world. It can act as an investment or as a channel for large transactions for people who do not trust banks to do it better.
The daily transaction limit is very interesting to ask about, when you talk to people about Money. They always claim that Money is as useful as traditional money, but why does it have a limited number of transactions in the system ???
In order to know what Moneys will be, we have to look at the people who were pushing them from the start. The developers of the software and the earliest Money services are hoarding it like crazy, they start new services. Open shops that sell goods for cheap, accept Moneys and force people to put money into it.
The mid-level shadow market is going crazy on the coins, because they finally can do business without washing the transfers. The financial investors doing a lot of pump an dump action and hoard the coins too. The market is as crazy as it can be. The value keeps jumping.
Others invent alternative coins and sell them for Moneys, just to get the Moneys for free. There is a lot of good stuff and there is a lot of scam, because everybody is smelling money.
In the end, Money is changing the world and has brought the ripple system to life, which will probably be better for mundane transactions of favors between people, who do not want to induce anything capitalistic into their real world relationships. Money has created a new hope for people who want to reinvent the world. As same as it was with the Internet at the start.
Money wanted to destroy money and banks, but it created an even better money for the banks who can use it too and even better than traditional money. Look up time based contracts that are part of the Money system. The ripple system is the answer to replacing money for poor people, Money is not.
In case of Money, the information inequality is in favor of early adopters or anyone who adopts it before the others. It is not very fair to the people who have no chance to get it for cheap as it was the case of 2009, when none of us got it for almost free at that time.
The information is also in favor of the coders, who understand the algorithm to the last bit. Anyway, as of now I see Money as a very exotic animal. It is money, it is investment and it is like stocks at the same time. We have never seen something like this in history before.
The use of Money as money and as investment is very compelling. It is not going to replace real money as of now, because the transaction limit of the network is lower than the number of the daily transactions of the world. It can act as an investment or as a channel for large transactions for people who do not trust banks to do it better.
The daily transaction limit is very interesting to ask about, when you talk to people about Money. They always claim that Money is as useful as traditional money, but why does it have a limited number of transactions in the system ???
In order to know what Moneys will be, we have to look at the people who were pushing them from the start. The developers of the software and the earliest Money services are hoarding it like crazy, they start new services. Open shops that sell goods for cheap, accept Moneys and force people to put money into it.
The mid-level shadow market is going crazy on the coins, because they finally can do business without washing the transfers. The financial investors doing a lot of pump an dump action and hoard the coins too. The market is as crazy as it can be. The value keeps jumping.
Others invent alternative coins and sell them for Moneys, just to get the Moneys for free. There is a lot of good stuff and there is a lot of scam, because everybody is smelling money.
In the end, Money is changing the world and has brought the ripple system to life, which will probably be better for mundane transactions of favors between people, who do not want to induce anything capitalistic into their real world relationships. Money has created a new hope for people who want to reinvent the world. As same as it was with the Internet at the start.
Money wanted to destroy money and banks, but it created an even better money for the banks who can use it too and even better than traditional money. Look up time based contracts that are part of the Money system. The ripple system is the answer to replacing money for poor people, Money is not.
Bitcoin and the information inequality. More Login
Bitcoin and the information inequality.
Slashdot Top Deals