Zwol.org

Tailsteak · Posted: Mon Jan 14, 2002 8:23 am Post subject:

The problem with most online currencies is that they have no online basis. They are metaphors for offline currency. In these days of the Internet's infancy, as in the days of society's infancy, currency must have a practical equivalent, such as gold or livestock. Online, there are four variables that could be used in trade: information, speed, access, and space.

Most people would immediately assume that information is the natural choice. After all, data is what the Internet is all about. The problem is, of course, not only that content is in the eye of the beholder, but that by the very nature of computers, content can be multiplied at will.

Speed is highly dependant upon location, so that leaves the one great online constant: space and the access thereto. Imagine, if you will, a webhosting service that gives you a definite number of bytes per dollar, and then allows you to give out those bytes to others. Before being allowed to view a certain webcomic or what-have-you, you have to click a button to sign over a megabyte of space on the server of your choice. The artist can then consolidate these megabytes to host his page, or cash them in for real-world currency.

As I see it, there are two problems with this system. The first and most obvious is that most people don't need that much space... yet. The second is that this system requires third-party confirmation. Any thoughts?

gazorenzoku · Posted: Thu Jan 17, 2002 10:26 pm Post subject:

...also, correct me if I'm wrong, but doesn't this system also ultimately rely on offline cash?

Very interesting train of thought, though.

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Tailsteak · Posted: Fri Jan 18, 2002 10:01 am Post subject:

Meh. The more I look at it, the less sense it makes. True, using the bytes themselves as currency rather than their content seems simple enough, but problems (like the incredible inflation, and lack of demand) make it seem... unworkable.

Jack Masters · Consistant Poster Joined: 04 Jun 2001 Posts: 181

Even if it has no real world applications, it's a neat idea.

gazorenzoku · Posted: Sat Jan 19, 2002 1:26 am Post subject:

sure, and since we are all interested in a new sort of economic system, it is worth while to toss any idea, no matter how crazy, into the hat for the sake of brainstorming...

The key to a new economic system is new ways of thinking, not just a new way of working with an old system. When Alexander Hamilton thought up the idea of the dollar, it was totally crazy and new at the time.

(I did a report on Alexander Hamilton in highschool... I'm not just some know it all who throws around obscure facts to sound obtuse... though I guess I could try to be if there were some money in it...)

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Vince Coleman
www.vince-coleman.com
comics and stuff...

Greg Stephens · Posted: Mon Jan 21, 2002 1:21 am Post subject:

So that's why he gets his face on the ten-dollar bill!

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Nick Douglas · Posted: Tue Apr 09, 2002 7:32 am Post subject:

I like the gold-standard net currency idea.