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source: Where Do Thin Tails Come From?
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source: cryptoeconomics.hub readinglist
expected value
block reward
hash power for the participant
number of tokens rewarded each block
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Bitcoin is the first example of a new form of life.
It lives and breathes on the internet.
It lives because it can pay people to keep it alive.
It lives because it performs a useful service that people will pay it to perform.
It lives because anyone, anywhere, can run a copy of its code.
It lives because all the running copies are constantly talking to each other.
It lives because if any one copy is corrupted it is discarded, quickly and without any fuss or muss.
It lives because it is radically transparent: anyone can see its code and see exactly what it does.
It can’t be changed. It can’t be argued with. It can’t be tampered with.
It can’t be corrupted. It can’t be stopped. It can’t even be interrupted.
Anyone who wants to create their own new digital life form can do so.
Like Bitcoin, it will live on the internet.
Like Bitcoin, it will survive as long as it does something that people will pay for.
Like Bitcoin, there will be no way of killing it.
Like Bitcoin, it will be radically transparent.
Like Bitcoin, it can’t be stopped.
Like Bitcoin, it will be able to pay people to do anything people are willing to do in exchange for its cryptocurrency.
Unlike Bitcoin, it will follow its own rules, whatever rules were programmed into it when it was created.
Ralph Merkle
source: DAO democracy Draft
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source: The Ideal Auction
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source: The Ideal Auction
$100
$75
$100
$75
$25
alice
jing
alice
jing
$25
$75
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ERC20
Alice wants to pay Bob
Bob
Alice
Alice open a channel by locking 9 tokens in it
Alice can start making payments to Bob
When the channel is closed, the remaining tokens are sent back to Alice
source: Raiden Network
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"sergio arboleda"
Hexadecimal:
222bb51313f3d00a618a2a5cf4017dd9544fec7c75c24637fc021989b3385420
"sergio ardoleda"
Hexadecimal:
0d0bdd931f296f3ed7ff2604f4fe43c37ce625d52909851ee39887c355163211
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JOHN NASH
MATHEMATICIAN
1928–2015
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Alex rats out Bob
Bob remains silent
Bob rats out Alex
Alex remains silent
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in fights against hawk
payoff to dove
payoff to hawk
in fights against dove
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Güth, Schmittberger, and Schwarze (1982)
You receive €100
You decide how much you will share with me
If I reject your offer, neither of us gets anything
If I accept your offer, we execute the deal
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emerging solutions
packed with probability distributions
the danger of making predictions
nonlinear interactions
complex systems
contagious effect
wisdom and/or madness of the crowd
bonding and bridging