Extrinsic & Intrinsic Value
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- เผยแพร่เมื่อ 18 ก.ย. 2024
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In this video we talk about how token economics enables us to better capture and define the concept of intrinsic value. Our traditional financial system and the basis of neoliberal free market economics is the construct of value as utility. Utility is the value that something gives to some person. In contrast to utility is intrinsic value. Intrinsic value is the value that something contributes to the maintenance and functionality of a whole system. With intrinsic value, we have a unit that values the functionality of the whole network.
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Came here to learn about Extrinsic and Intrinsic Value now listening to you talking about tokens...
This was mind-blowing.
this video is a paradigm shift. As a predecessor you have to understand how blockchain is the open ledger that allows the network to grow.
talking about intrisic , your content is so important you should pay people to access it
Good thing I can exchange peace tokens for war tokens for my trip to the gun store.
Great episode. Peace tokens are phenomenal...
The idea of different tokens for different values is bad. Currencies are valuable for their universality and liquidity, and not being locked in.
These tokens would result in infinite variety of currencies. Veggie coin? Vegan coin? A coin for every diet? Every food type? Every brand of food? This year's version of the product?
Then there's taxonomy problems: Are eggs Veggie Coin because they're not meat, so are vegetarian? Can I convert Animal Products Coin to Vegan Coin by buying eggs, selling them for Veggie Coin, buying lettuce, selling it for Vegan Coin?
Then there's interpretation and enforcement. In 1947, the USA renamed the Department of War to Department of Defense. I guess that means all actions by DOD are purely defensive in nature and in the interest of Peace Coin.
With tokens, you can have universality and liquidity or specific and nonliquid, it doesn't have to be nonliquid, look at Bitcoin.
We already have all these different forms of tokens, think of product coupons, discount vouchers, airline tickets, financial assets, currencies, etc. token just creates a generical framework for all of these and make them programmable.
@@SystemsInnovationNetwork Tokens with the strongest network effects will win. We see this already in traditional econ
Can you suggest a book related to this topic? I want to read more in-depth
Wow 😯 interesting. However I could see it back firing, and the war token being super profitable.
So token economies are the answer to Godel's Incompleteness Theorem as it applies to economic systems.
Didn't get you .. what do you mean? I'm curious
@@flyingguitarist7026 a consequence of Godel's Incompleteness Theorem is that the rules of a system can be complete or consistent but not both at the same time. When Incompleteness is encountered in a consistent system, the only thing to do is to create a new axiom to address it (thus creating new incompleteness that we don't yet care about). Tokens, in their uncountable variety, are the equivalent of those axioms within the crypto ecosystem.
if there are competing tokens ,let's say a veggie token and non- veg one , so the winner would be the one with high network effects?
Example with wepons is naive and wishful thinking.
This will not work. It is simply too complex for people to grasp.
Maybe storage man would have said that about our industrial economies.
don't underestimate AI... will do the work for those who think this is too complex...
Exactly
All of this can be accomplished with fiat as well. No solid argument for tokens in this video. There were a couple of leaps in the vid but they weren’t backed up by anything that could not be accomplished by treaties, fiat or contracts.