INTERESTING: Value Is Based on Your Reputation

http://www.wired.com/2014/07/document-coin

A New Digital Currency Whose Value Is Based on Your Reputation
BY KLINT FINLEY   07.18.14  |   6:30 AM  

*** begin quote ***

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.”

*** end quote ***

Maybe some day, a “FERD” or a “jasper john” would actually be worth something?

Laff!

Not bloody well likely.

# – # – # – # – #   

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 1,061 other followers

%d bloggers like this: