Editor's note: Last year in the winter, bit money obtained every bit money for a time the high point of 20000 dollars, and arrived this summer, its price already fall after a rise arrived 6000 dollars, and the attention of media is spent also had dropped significantly. So is bit money existence bubble? If yes can burst? If be can you appear what to kind ofly go again situation? Bit money and is the technology mixed to prospective technology related its is social influence met again how? The content that the scientist holds sci-fi writer Erik Hoel concurrently to use Pang Ran (Hyperobjects) and hold circle of Lemi have enough to meet need in the palm to come to what analyse and cast bit money to go situation.
The Christmas hears that distinctive audio a few days ago the person is more than several. This is the noise that when the empty clever convulsion on the net breaks out, gives out, in silent underground is worn of snow on December 22, 2017 that day, it is also can listen so that see almost in real world. That day, fall at a draught from 20000 dollars as the price of bit money 10500 dollars, that add bubble of secret number money grandly like that dissilient. Nevertheless the market restored to come over immediately it seems that, the price is close to the history to be nodded high for a time. But after this, the market enters the ursine city phase of deepness, before following, strong and clinking ox city formed bright contrast, be in mere in a few months with respect to the loss the market prise of 70% .
The hold to bit money person for whether has the worst hour gone? Still say to have not come? This problem deserves drop back one pace asks why to can produce such job first. Why is the money of a bit of 20000 dollars worth value only this summer last year 6000 dollars?
Does the answer use bubble merely are two words OK and wraparound? For the person that observes the insanity that added secret number money 2017 to those doing not have, might as well the surprise rate that the consideration gave a person one day to bring arbitrarily last year -- this can be weather is poor and common any day; Of undeserved perhaps attention any day -- somebody is won or each days lose money, experience anguish is ecstatic perhaps, all these is to pass the screen before them. A day of common to you heaven that may be them is Tartarean perhaps.
Be in nevertheless of this market hysterical with insanity besides, want to understand bit money big cases to fall greatly truly, you must understand a bit its rock-bottom technology first, because of it very big the novel sex that follows bit money agreement possibly partly is concerned.
What bit money has inherent quality of a root is different, the sheer scale of this kind of thing that differs to be wanted to come true by it again magnified. Say these substance now, these add secret number money, it is the technical target with millennium the most interesting generation, this is not the view of draw a forced analogy any more. Did not come to us even and character, this is futurism. In the process that understands them, among the wonderland that you can enter to fall suddenly, over, you are the most familiar, the most indispensable thing, monetary itself, accepting careful to ask.
Regard the bit of Pang Ran's content as money
Philosopher Timothy Morton used a term to describe " come loose too too complexly, overly on time and space, so that the mankind is uncontrollable incident, system or flow. " the is Pang Ran matter that he weighs (Hyperobjects) . Morton continues to explain
The black hole is Pang Ran's content; Uranous, plutonium is having endless half-life so the content that nuclear material is Pang Ran; The whole world is calefacient eradicate the content that is Pang Ran with large-scale species. We know the local effect of these phenomena, had experienced, but basically the cognitive range that these things had exceeded us.
Bit money is such content of a kind of Pang Ran, it is it one of the content of this kind of Pang Ran. The dilate of bit money spanned spatio-temporal, this is a constant growth, orderly, the chain that by million size area piece makes, it does not have a shadow already aeriform omnipresent. It that phantasmagoric flesh body from budding since gobbling up cheap electric power ceaselessly, the heat that give a talking-to of frozen storehouse stack give a talking-to makes sound must send very hot demon, they should defeat solution is to play those who be without a meaning to guess only game and the computational difficult problem of existence. Those its inputs / output port, resemble bourse, the dot is sold to the dot, perhaps accept the businessman of bit money, the subterranean world that each resembles that nondescript that exists truly from bit money like plant cirrus is climbed up slowly climb. Coterie calls bit money agreement is " sweet badger " , because it is essential won't dead. All these comes from a content complex the distributed Zhang that does not cross Excel documentation this.
Those content -- the information inside -- also label it the content that is Pang Ran. The thing that resembles other Pang Ran is same, area piece catenary violated general regulation, surmounted old paradox. Say for example, philosopher of a few thoughts once wanted to clear up why like cerebrum such object can be included one cannot by observer subjective unscrambled information. But from do not follow those who say the information content of area piece catenary is to secure it seems that to come up, and use what the means that place of a kind of most other information does not have tries to define. Distributed Zhang is comprised by purse originally, and their hold person having specific consensus -- everyone agrees -- and this kind of consensus still proves to ensure with workload. Perhaps the hypothesis of a kind of stranger unreal is, actually the mechanism of cerebrum itself also resembles organic area a bit piece catenary, the model of duplicate oneself and world is mixed to two its hemisphere in each module, and consciousness is current the distributed nerve consensus to condition of this one model.
The real value of money of single even bit also represents this agreement to be Pang Ran's content. Its duality makes a person infatuate. With distributed Zhang this inside considerable real message is different is, that Zhang this value is subjective completely. Divide unreality world also follow, one caboodle account is without a meaning actually. This among them paradox is, the success of bit money depends on the success of itself. If agreement of whole bit money is valued by the number one money that should make the whole world, then it can have get exceptionally market prise high, and a day of fluctuation in also is met necessarily very low. Stability bandwidth is low be useful money is indispensible. The market prise of bit money is so taller, mix to buying it can become more useful for the price, this forms the loop of type of the snake that hold remaining part again, this is the mark of Pang Ran's content.
To discuss for the purpose of further, assume the ultimate dream of bit money comes true for the moment (this just assumes) . In this dream, the value that bit money can replace a dollar finally to become the whole world to lay in money and whole world stores method. If who thinks this is wishful thinking, store total value respect, the cavalcade of money of ball of before bit money had been entered last year 20 encyclopedias. If list first word, the value of money of a bit may achieve 300 thousand dollar to arrive between 500 thousand dollar -- even millions dollar is not curious.
Look suddenly under, this kind of view appears very absurd. How may an abstract Monetary Unit be worth so much money? Especially it is so new still, enough without the course still examine? But is monetary itself such?
The money is the unit of measurement that the society proposes form. It is a staff guage. But metric it is two-way. We are so OK a similar car, house, computer such object regards as is metric equipment, go making a money and not be the object of real value. If we take a kind of view after this, the money can be understood to be value itself. So, when somebody established the advanced pattern of a kind of new money, and the result makes clear indicate before us " money " when need is transferred toward this kind of new form, criterion the summation that its value is secondhand goods money.
Accordingly, in its price action, what bit money has inherent quality of a kind of root is giant, this meeting labels it is the content of a kind of Pang Ran. Seem to arrive greatly cannot be opposite its Jiao Yi appearance. Below close quarters observation, last year bit money everyday the price wave motion between is very tremendous (can be to go up today 15% , drop the following day 10% ) . Next, play scene again far if looking, the fluctuant cycle between monthly also is met longer. Bit money can be in 3000 dollars go up in a month, next second month tumbled again 1800 dollars. But these cycle still can maintain even if for some time constrainedly, go finally situation always be inevitably up. This piece pursues even if this one quite striking progress is breaking down before today appearance.
Bit currency value goes situation
But we still can play scene a few more further. From the point of periodic and alternant angle, at present inactive price goes situation appear and can go up one day unlike the sort of bit money 15% morrow drop the process of 10% is incomprehensible. From the point of this distance, this kind day-to-day rise and fall with the discretion of month by month OK and wraparound for big circle in (it is a cycle one year, it is even occasionally 2 to 3 years) hold circle of Lemi have enough to meet need in the palm. Actually very simple: You do not have a law according to the place that goes extremely tall from extremely low price point-blank, even if participate in everybody is certain the result is destiny.
The near future by interdisciplinary the prosperity that a paper of researcher compose analysed bit money and depression, give identical probably the spin that cycle drew a maths to go up. Their hypothesis may simplify a bit, think the value of bit money but (complete) through Metcalfe law concludes, namely the value of a system and the square that its join the user is counted become direct ratio. But the price goes situation often can precede again at systematic itself, actually, in typical bit money bubble, the price goes situation can become super exponential sex, be like bit money to want do all one can to arrive at its the final position of the universal money of teleology type is same, no matter some engraves its price to lie what kind of low, can break down inevitably again next go back, because surprise,the dot is in real world by exiled. The wing that candle makes fused, billions of dollar evaporated.
The number of the person paper such as Wheatley (Zun Tu: Bit money market prise and active user number come loose bit of graph; Right graph: Active user is counted)
This kind of same act also is said is the quality that bit money has minute of look, form bubble slowly namely next burst.
Basically I am not special care to the mechanism of backside of this kind of behavior. Perhaps express it function of the form that it is cent is the most appropriate, perhaps express as strange place, but how to express without giving thought to, these two kinds accord with the real prime cause that I think: A kind of assets grows to want to replace monetary itself from the price of one cent the cognitive ability that this showed the fluctuation that come to had exceeded the mankind all the way and time scale.
Bubble meeting burst? Still arrive greatly can you lap us rise?
How is the result met? 10 years of in the end that perhaps bit money has gone are transitory nevertheless, turn throughout history into one of the most large-scale covet finally. But the doubt that I have myself. Its backside is already accumulative now too much energy, knowledge and economy. Internet begins a kind of shift that information just conveys between long-range computer. But to finally (or may not, still will continue) evolve into heavy model however (no matter be good,be bad) the gregarious media of our society.
Adding secret number money is a kind of method that Zhang turns between long-range computer at the beginning. What can it become again finally? If be met really, how can it weigh model again our society?
The answer has been in the likelihood write in the center. Asset of since of area piece catenary is the community that handles each other to interact. The union of money and community asks a kind of former government (Proto-government) form. Should be the governmental itself that thinks to will come also planted the inquiry of this kind of technology by this the make a farfetched comparison with true opinion? If say area piece catenary solved accredit to be short of,miss an issue, and by because 2008 financial crisis and if the bank system that loses faith introduces to arena, be short of in the credit with that similar domain break also awaiting area piece catenary to develop?
What I say is not the aid form of advance gradually sex, the voting what on area piece catenary record for instance; What I point to is one still is in budding in, but already matured to show mysterious possibility (be in especially certain project of newer analogy spy money) direction. This is " digitlization is confederative " idea, its technology and economic gradual progress and law and community standard are autonomy. These digital federal made clear the force of area piece catenary not to depend on comb-out trusting, and depend on its formalization.
If I must give the word that until I age the black swan of our world leaves heavy model to be noted again, I can choose to add change processing closely those are babyish did not take off, still be in the form of toddle. The imagination is in a few years immanent more and more a globalization builds over inessential nation-state foundation add close new mercantilism (Neocameralism) , I think this kind of attempt to future is not impenetrable.
This derivative this thing why so interesting. Although look,seem a lot of new things because of this times, but actually new thing is gotten less startling. A few people think world change is very big, but we wrap up eliminate beyond those the small screen in, our infrastructure and culture are startling the ground close to backwater. The money that tycoon of large science and technology makes still relies on advertisement for the most part. Present film basically is to break up pat. The image of video game is more elegant, but make up cake of form smoke into smother. Very to last centuries that politics great debate repeats once more again now. The mankind follows the past or a pattern.
Bestow please so I am super Gaotie and rocket! Bestow please my spark colony! Bestow please I administer a form brand-newly! When the economic community with our new-style attempt is not let let a hundred flowers blossom please when the mistake that repeats the past. Bestow please my electron cerebra and artificial intelligence! Bestow please my area piece catenary and DApp (go to a center turning application) and the new market that whole world anybody can share! Beg you. That world when I hope I was born 1988 can be gone forever forever when I am dead, only such, to finally I just can say I witnessed a century truly alternant.
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