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Space-based currency
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Tailsteak
Frequent Poster


Joined: 23 Oct 2001
Posts: 98
Location: London, Ontario

PostPosted: Mon Jan 14, 2002 8:23 am    Post subject: Reply with quote

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?
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gazorenzoku
Reinvents understanding


Joined: 08 Nov 2001
Posts: 629
Location: Sapporo, Japan

PostPosted: Thu Jan 17, 2002 10:26 pm    Post subject: Reply with quote

...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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Vince Coleman
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Tailsteak
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Joined: 23 Oct 2001
Posts: 98
Location: London, Ontario

PostPosted: Fri Jan 18, 2002 10:01 am    Post subject: Reply with quote

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.
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Jack Masters
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Joined: 04 Jun 2001
Posts: 181

PostPosted: Fri Jan 18, 2002 6:39 pm    Post subject: Reply with quote

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


Joined: 08 Nov 2001
Posts: 629
Location: Sapporo, Japan

PostPosted: Sat Jan 19, 2002 1:26 am    Post subject: Reply with quote

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
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Greg Stephens
Forum Founder


Joined: 14 Apr 2001
Posts: 3861
Location: Los Angeles, California, USA

PostPosted: Mon Jan 21, 2002 1:21 am    Post subject: Reply with quote

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

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Nick Douglas
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Joined: 08 Apr 2002
Posts: 21
Location: Grove City, PA

PostPosted: Tue Apr 09, 2002 7:32 am    Post subject: Hamilton Reply with quote

I like the gold-standard net currency idea.
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