Nash’s “Ideal Money and Asymptotically Ideal Money” Annotated

Re:Nash’s “Ideal Money and Asymptotically Ideal Money” Annot... by ZenoArrow on Wednesday October 07, 2015 @03:54AM (#10344723)

Interesting, you could be onto something here.

Two more questions:

1. How does this system affect those that want to use their money at a slower pace, such as minimalists and nomads? In other words, do they have any options to spend at a slower pace without losing out?

2. I can see your approach is based on the blockchain, which I believe could work, but I wonder about whether a blockchain-based system will be fast enough when the quantity of transactions reaches that of an established currency. I don't follow news about cryptocurrencies that much, so perhaps this is already being tackled. Have people been working on improving the speed of blockchain propagation? Links to discussions/blogs about this would be welcome.

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Re:Nash’s “Ideal Money and Asymptotically Ideal Money” Annot... by skilesare on Wednesday October 07, 2015 @01:03PM (#10347238)

1. One of the core concepts is 'Everyone is a bank'. The system has built in loan pooling complete with a marketplace. http://catallax.info/everyone-is-a-bank/ Instead of being paid interest, you receive a dividend over time based on how well the person who placed your loan does.

2. A trusted public ledger is necessary. A bunch of tech exists to build it on the blockchain right now, but you are right, it isn't a long term solution. As long as the ledger is public and verifiable you'd be ok.

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