[sudo-discuss] Virtual currency question?

[Sonja Trauss]

+1


On Sun, May 5, 2013 at 11:53 AM, Rabbit <rabbitface at gmail.com> wrote:

> 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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>>
>
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