Emman Posted April 21, 2014 Posted April 21, 2014 At least Auroracoin (Iceland) and Scotcoin (well...) are now in existence. I suppose this was something to be expected as more and more human (geeky) cattle learns about fiat money, while being unwilling to process other kinds of irrationality in their lives. These coins of course have nothing to do against Bitcoin (first mover advantage, network effect, global use, and basically objective factors... *yawn*) and their obvious absurdity shines beautiful light on the fact that countries and states are a thing of the past. Anyway, I thought this was rather funny.
Wesley Posted April 22, 2014 Posted April 22, 2014 Well, if projects like Ethereum are successful and have altcoins built with turing complete programming languages, different systems will actually be able to implement sets of laws within code and people can choose which rules they want to abide by and participate within that system. I forsee a large amount of experimentation in this sort at this time and will be excited to see what results from it. PS. For anyone who doesn't know what turing completeness is, it came from a computer scientist named Turing who listed a couple commands that would be needed and if those existed then you are able to accomplish anything. Almost every programming language you can name is a turing complete language. However, within a cryptographic structure and blockchain-enabled system like that of bitcoin it allows things like systems of rules, smart contracts and property, digital autonomous corporations, and many other possibilities that have not even been imagined.
Emman Posted May 9, 2014 Author Posted May 9, 2014 Turing gives us a set of rules that is rational... and peeps start building systems with rules that are irrational. Where's my dogeeeeee???? As we now from rational economics, all those altcoins, which are ridiculously and unjustifiably restrictive, will be defeated by Bitcoin, which is universal and has plenty of first mover advantage.
dsayers Posted May 9, 2014 Posted May 9, 2014 What is rational economics? Doesn't economics encompass the sum of human trade decisions, including ones others might find to be irrational?
Emman Posted May 16, 2014 Author Posted May 16, 2014 What is rational economics? Doesn't economics encompass the sum of human trade decisions, including ones others might find to be irrational? You mistake economics for the economy.
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