A New Digital Currency Whose Value Is Based on Your Reputation
BY KLINT FINLEY 07.18.14 | 6:30 AM
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Unlike with bitcoin—which keeps its currency scarce by rewarding it only to those who participate in what amounts to a race to solve complex cryptographic puzzles—anyone will be able to create a new Document Coin anytime they want. The value of each coin will be completely subjective, depending on who creates the coin and why. “For example, the coin my disco singer friend created and gave me at my barbeque might be what gets me past the rope at the club,” Anderson says. A coin minted by tech pundit Tim O’Reilly might be highly prized in Silicon Valley circles, but of little interest to musicians. “It’s a bit like a combination of a social network with baseball trading.”
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Maybe some day, a “FERD” or a “jasper john” would actually be worth something?
Not bloody well likely.
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