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Mutualist Blog: Free Market Anti-Capitalism

To dissolve, submerge, and cause to disappear the political or governmental system in the economic system by reducing, simplifying, decentralizing and suppressing, one after another, all the wheels of this great machine, which is called the Government or the State. --Proudhon, General Idea of the Revolution

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Location: Northwest Arkansas, United States

Wednesday, June 29, 2011

At C4SS--Bitcoin: What Comes Next?


Anonymous Anonymous said...

Using bitcoin as a triple entry accounting method for tracking peering relationships is where it's value has always been. The coin in "bitcoin" refers to the unique identity of the object as separate from a central authority.

Just as ISPs peer assets, the p2p network could use "bitcoins" (goddamn, that name is so misleading) to create a running account to clear transactions in a network.

It could even be used on a low-level as a security measure between instances running on virtual machines.

A more evolved p2p network would be what the "cloud" (yet another hip neologism) is envisioned to be, where a $500 network-attached desktop in the ghetto has parity with Amazon's AWS instances. Integrate a BitCoin utility billing method with the Bitcoin object model and a World Grid running instances that capture all those stranded resource desktop pcs we po' people are running and we have a viable p2p information economy.

Bitcoin need not be valued in dollars to have value, but rather in cpu cycles, storage GB, transfer GB, GET requests, etc. Then a $$$ can be set.

Someone make a way for me to get paid in bitcoins in exchange for me running my PC 24/7 doing work for the network, then allow me to exchange those bitcoins for different, more valuable work (to me) from the same network.

June 30, 2011 12:03 AM  

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