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Originally Posted by Mason Malmuth
Hi G.Nouveau:
I don't know enough about bit coins to know whether this would work or not, but one thing I do understand, and correct me if in error, is that the value of bitcoins fluctuates greatly. And if this is the case, wouldn't these fluctuations be the equivalent to a hidden cost making the type of transactions that you are describing much more expensive?
Best wishes,
Mason
I've been thinking about this comment. Mason makes an important point I think, and knowing they likely have some wisdom in this regard I think it's prob a good marker to think about the point in which someone like him gets on board to its adoption into the mainstream.
This article won't seem completely related, but when ethereum comes out it will be more so:
http://www.gernot-gawlik.de/wp-conte...tion-costs.pdf
From the Intro:
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We present intuitive arguments for why micro-payments have not succeeded on the Internet. The "hassle factor" for customers associated with such transactions is characterized. A framework of mental transaction costs and price granularity is then presented, and arguments about micro-payments recast in its light. Finally, we make some suggestions for reducing the mental transaction costs of Internet commerce.
Conclusion:
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We have seen how customer mental transaction costs can derive from at least three sources: uncertain cashflows, incomplete and costly observation of prduct attributes, and incomplete and costly decision making. These costs product attributes, and incomplete and costly decision making. These costs will increasingly dominate the technological costs of payment systems, setting a limit on the granularity of bundling and pricing. Prices don't come for free.
There is a lot of these "costs" that both business and the users will save with the coming technologies.
This article is quite dense:
http://letstalkbitcoin.com/blog/post...to-cryptostock
It highlights some new coming projects (it seems many projects are set to launch with ethereum or soon after):
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Earlier this year, he and others at Overstock held discussions on this very subject with developers of BitShares and Counterparty, platforms that aim to extend Bitcoin technology to enable securities issuance and trading without the need for third-party brokers or centralized exchanges.
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...two systems, NXT and BitShares X, appear to have emerged as the leading contenders in the Overstock wiki arms race. Both of these systems provide built-in, decentralized exchanges that allow users to issue their own assets (though the SEC may call the assets "securities," depending on whether issuers make any promises with respect to the assets).
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While some crypto platforms, such as BitShares with its TITAN technology, already enable users to transfer shares to other users by account name rather than account number, no system currently in use supports the restriction of share ownership to certified identities. The BitShares system aims to be the first to provide the market with a practical, easy-to-use solution to this critical problem
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With BitShares X, companies like Overstock can allow their shares to trade against trust-free assets pegged to the dollar, gold, silver, or other national currencies. This provides a significant advantage over all other systems known at this time.
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In the near future, the BitShares X system, with its certified accounts and collateralized assets such as BitUSD, will be able to meet the regulatory, philosophical, and business requirements outlined by Mr. Byrne. BitShares X will resolve the problems arising from fractional reserve banking, naked shorting, and high-frequency trading manipulation. An equally important advantage of BitShares is that its developers are not simply faceless identities hiding behind internet pseudonyms; the leaders within the BitShares ecosystem are real people who will be able to draw upon their expertise to help customize solutions to suit the needs of Overstock and other public companies.
http://letstalkbitcoin.com/ released its own currency based reward program this kind of thing is expected to optimize its community by giving a market type system to its participators. This kind of thing could be quite easy to set up for 2 + 2. It might be something we want to discuss as well as the quality of contribution would likely increase dramatically as a result.
I'm seeing white papers for the optimization of forum use in this regard. Having a system like this would help raise awareness for many aspects of the poker community and economy in relation to the new technology.