Ideal Properties of Digital Commodities – How does Bitcoin currently compare? https://en.bitcoin.it/wiki/Ideal_Properties_of_Digital_Commodities
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admin 10:23 on April 17, 2011 Permalink |
Daniel A. Nagy [ http://www.facebook.com/nagydanya cf. https://www.epointsystem.org/~nagydani/ICETE2005.pdf and https://www.epointsystem.org/~nagydani/fc2008.pdf ] I think that they make a fair assessment of what an ideal commodity would be like and how bitcoin measures up against this ideal. Even so, I have doubts about commodities (even ideal commodities) being ideal for monetary purposes. I tend to buy the argument that (good) debt is the ultimate backing for money.
2 perce · Tetszik · 1 személy
admin 21:29 on April 17, 2011 Permalink |
petfold Debt? I would call it trust. But maybe it’s the same thing.
13 perce · Tetszik
admin 21:31 on April 17, 2011 Permalink |
Daniel A. Nagy Debt is just the other side of credit. Credit comes from latin “credo” (I believe), which is, in this context, for all practical purposes synonymous with trust.
2 órája · Tetszik
admin 21:29 on April 17, 2011 Permalink |
Mázsa Péter @ Daniel A. Nagy What is your current opinion (written and/or implemented) on the ideal e-monetary system?
kb. egy órája · Tetszik
admin 21:30 on April 17, 2011 Permalink |
Daniel A. Nagy @ Mázsa Péter: a monetary system’s primary purpose is to lower transaction costs and risks. The ideal one, obviously, makes them zero, bringing about that ideal gas of economics: the perfectly efficient market where Coase’s theorem holds. I believe in approaching it step-by-step, one Pareto-improvement at a time.
2 órája · Tetszik