To be honest, I don't really get what this is for. Everybody I buy things from, and everybody that buys things from me, has no idea who I am. I don't know who they are either. I'm not "famous" so no stranger is going to afford me any "reputation", and I intentionally have zero financial interaction with people I know. (money and friendship don't go together in my opinion.)
Hey, Chris Anderson here, this article is about my project. Here are slides from my Open Source Bridge talk on the subject. First half is philosophy the second half is tech: <a href="https://speakerdeck.com/jchris/subjective-crypto-currency" rel="nofollow">https://speakerdeck.com/jchris/subjective-crypto-currency</a>
The last paragraph of the article, literally verbatim:<p>If it does take off, it will probably start small. It’s not hard to picture groups of friends using it to create custom coins based on inside jokes. Anderson says there would actually be a big benefit in the system being used in this way, since it would get people to create and maintain public encryption keys, setting the stage for more interesting uses later on. “Everything has to start out as a joke these days,” he says. “Otherwise people won’t take them seriously.”
Hi! This is the Market Economics Fairy! I can't tell whether this is just a case of the journalist not understanding what properties make for a good unit of exchange, or if the actual creator of the currency has never heard of the Law of One Price! But we should always suspect the journalist first because they have poorer incentives! Let me know if there's any link explaining what the point of this currency really is! Sincerely, the Market Economics Fairy!
I wish you good luck with your project, but your materials so far skirt over the difficult problems (collusion, botnets, etc) and just discuss the easy parts of building this type of system. Nonetheless, good luck, there's definitely a market for a quality product in the niche.
Incredible incredible stuff. It will be so massively niche for such a long time, so you must have faith, but if you do, one day it will be very very huge.
Here is a deeper look. Not quite a spec, but a step in the direction of a spec. So that folks can understand more precisely what I'm doing: <a href="https://docs.google.com/document/d/1-0D75T4_xjMNDdMdgaeRPtNvU-ggBJ_Z-FNg0DZIA_c" rel="nofollow">https://docs.google.com/document/d/1-0D75T4_xjMNDdMdgaeRPtNv...</a>
For each person's coin I hold if that person goes "off the rails" then would the value of any of their coins that I hold depreciate (possibly to 0)?<p>If yes, then how do you protect yourself from folks like Ken Lay, Jeff Skilling, Bernie Madoff, Mel Gibson, Rob Ford, OJ Simpson... and so forth?