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Re: BitCoin Startup 21

From: Joseph Potvin <jpotvin@opman.ca>
Date: Sun, 19 Apr 2015 10:43:07 -0400
Message-ID: <CAKcXiSopFDygc6+G1ybLD+WDmGO=VwfO7MBfKiPKXm4xfbnrbA@mail.gmail.com>
To: Pindar Wong <pindar.wong@gmail.com>, Web Payments CG <public-webpayments@w3.org>
RE: "Perhaps too much money's a problem in itself."


Too much money AND too many monies. A year and a half ago I suggested on
this list:

"Bitcoin is scarce but an infinite number of technologically identical
derivative crypto-currencies can be created. So is it not true to say
that Bitcoin is only scarce based on brand loyalty? If/when Gitcoin
and Hitcoin and Titcoin also come on the market, then what does the
mathematical scarcity of Bitcoin really come to?  Spock's darned
"Parallel Universe Problem"."

It will surely sound boring and pointy-headed of me to say, but the way
forward is to work with monetary theory, and more deeply yet, with the
philosophy of money. In other words, the use case of "money itself" is best
established before desiging systems to satisfy it.

For example, Geoff Ingham at Cambridge has done useful work in this field:
... but there are multiple reasonable schools of thought on the topic.
Another favourite is von Mises. My only recommendation is to pick a
monetary theory and anchor the logic of any operational money and payments
system upon it. But a money and payment system without theoretical
foundations is a tree without roots.

Joseph Potvin
Operations Manager | Gestionnaire des opérations
The Opman Company | La compagnie Opman
Mobile: 819-593-5983

On Sun, Apr 19, 2015 at 9:59 AM, Pindar Wong <pindar.wong@gmail.com> wrote:

> Perhaps too much money's a problem in itself.
> I note this out from MIT
> http://joi.ito.com/weblog/2015/04/15/announcing-mit-dci.html
> https://medium.com/@medialab/launching-a-digital-currency-initiative-238fc678aba2
> p.
> On Sun, Apr 19, 2015 at 4:16 PM, Anders Rundgren <
> anders.rundgren.net@gmail.com> wrote:
>> http://blogs.wsj.com/digits/2015/03/10/secretive-bitcoin-startup-21-reveals-record-funds-hints-at-mass-consumer-play/
>> $116 million in venture funding isn't that bad for a startup.
>> Anders


Received on Sunday, 19 April 2015 14:43:57 UTC

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