[sudo-discuss] Virtual currency question?

[Rabbit]

Someone was proposing a currency denominated in joules which would
represent the ability to generate that much energy in the future.

https://medium.com/armchair-economics/183c2ad47b50

The exchange rate between Bitcoiny CPU cycles and joules would be pretty
straightforward to figure out.

But: would this be more prone to speculation and bubbles since it's based
on our estimation of what will happen in the future?  And what happens when
everyone tries to cash in their joules at the same time?




On Sun, May 5, 2013 at 10:44 AM, Ryan Bethencourt <
ryan.bethencourt at gmail.com> wrote:

> Hi All,
>
> I've been reading/following the whole evolution of bitcoins as currency
> and I'm still a bitcoin skeptic (I prefer potential rather than spent
> processing power :) ).
>
> So I was curious, has anyone in the past tried to create a virtual
> currency based on a resource value, like future usage of CPU time (i.e. $1
> would equal an equivalent amount of electricity and hardware wear and tear
> for x number of CPU cycles, which could be exchanged either for the cycles,
> at a super computer bank or for other currencies)?
>
> To me it seems that bit coin is like a spent CPU resource rather than a
> future resource and by flipping the equation to future rather than past
> value a currency based on this type of commodity would be useful... any
> thoughts?
>
> R
>
>
> --
> Ryan Bethencourt
>
> Tel: (415) 794 6463
> ryan.bethencourt at gmail.com
>
> www.bamh1.com
> www.linkedin.com/in/bethencourt
> www.logos-press.com/books/biotechnology_business_development.php
>
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