EV as a “utility”: the Global Rake Standard

If we think about bitcoin in terms of “ideal money” we can start to paint a different economic perspective:

The special commodity or medium that we call money has a long and interesting history. And since we are so dependent on our use of it and so much controlled and motivated by the wish to have more of it or not to lose what we have we may become irrational in thinking about money and fail to be able to reason about it like a technology, such as radio, to be used more or less efficiently
Consider a society where the money in use are subject to a rapid and unpredictable rate of inflation so that money worth 100 now might be worth from 50 to 10 by a year from now. Who would want to lend money for the term of a year?
In this context we can see how the “quality” of a money standard can strongly influence areas of the economy involving financing with longer-term credits.
And also, if we view money as of importance in connection with transfers of utility, we can see that money itself is a sort of “utility”, using the word in another sense, comparable to supplies of water, electric energy or telecommunications. And then, if we think about it, we can consider the quality of money as comparable to the quality of some “public utility” like the supply of electric energy or of water.

Let’s imagine we know the “price” or “value” of bitcoin is going to raise consistently for the extent of our lifetimes, and let us assume we each have an instant and free (no transaction fees or exchange fees) way of “converting” your bitcoin into any form of currency that is useful and needed.

Provided there are charitable people and “places” presumably one now has access to a new kind of “electricity” beam, which is really a channel of “gold”. If you need some value you simply reach in and pull it out. This is something that we may not believe can exist as a “true” form of “social welfare”.

Then we might compare this to our understanding of a “game” such as “poker”.  We can ask, what does the effect of such an economic change have on the game of poker.  What does it mean to decentralize poker, and also how can we apply such a solution to a smaller subset of the global economic problem that is “poker”.

Ideal Poker:

The special commodity or medium that we call EV has a long and interesting history.  And since we are so dependent on our use of it and so much controlled and motivated by the wish to have more of it or not to lose what we have we may become irrational in thinking about money and fail to be able to reason about it like a technology, such as radio, to be used more or less efficiently
Consider a poker society where the chips in use are subject to a rapid and unpredictable rate of rake so that chips worth 100 now might be worth from 50 to 10 by a year from now. Who would want to lend chips for the term of a year?
In this context we can see how the “quality” of a rake standard can strongly influence areas of the poker economy involving financing with longer-term credits.
And also, if we view rake as of importance in connection with transfers of utility, we can see that rake itself is a sort of “utility”, using the word in another sense, comparable to supplies of water, electric energy or telecommunications. And then, if we think about it, we can consider the quality of rake as comparable to the quality of some “public utility” like the supply of electric energy or of water.

We have been using money as a “resistor” or as a heat source from friction, essentially derived from the “misuse” of it. Kind of like giving a cavemen and electrical source, eventually they might figure out how to:

1) hurt things
2) create fire
2) create sparks

But as we get this new energy “source” in place in the form of a global currency standard we will be able to “hook up” to it with “business” models that use money in a completely different form.

One akin to giving said cavemen a house with working electrical technology.

So then money can truly be compared with things like “voltage”, “current”, and “resistance”…and we begin to see how bitcoin is a true unifying break through in mankind’s scientific understanding of “this”

This suggests Adam Smith’sinvisible hand“, is in fact a force and only remains “invisible” because of our ignorance to it.

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