Is this the same effect as the tendency for nodes in a network to clump into patterns?
If so then surely we can program in a way to mitigate this effect in the protocol? This is probably the first time in human history we would have had the opportunity to do something like this.
My question to you now is,
how do we represent the effect as an algorithm? I wouldn't be surprised if doing so might require entropy. The entropy for this could be sourced from the proof of work.
Further, the difficulty could also feature an influence from the current distributed exchange rate.
This is very exciting. Is this no less a chance to fix practically all of mankind's problems (money)?
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The first 4/5 of the OP resonated with me (the last 1/5 I didn't spend a lot of time trying to parse.) It captured, among other things, why a 'one world' monetary system terrifies me more than just about anything. It would be exceedingly difficult to break free from such a thing me thinks...Not even another world war would guarantee this outcome.
I do believe that the best way to achieve a relatively favorable (from the perspective of a democratic socialist) distribution of wealth is through fear, strength, and power. Bitcoin is to me the most promising technology which could help achieve this because it's function is given strength from a majority of the actual users. If the users are getting a raw deal, they can destroy the system with relative ease. Ergo, the majority will not be getting to raw a deal...at least vis-a-vis the currency they are using.
I do believe that the best way to achieve a relatively favorable (from the perspective of a democratic socialist) distribution of wealth is through fear, strength, and power. Bitcoin is to me the most promising technology which could help achieve this because it's function is given strength from a majority of the actual users. If the users are getting a raw deal, they can destroy the system with relative ease. Ergo, the majority will not be getting to raw a deal...at least vis-a-vis the currency they are using.
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I also think that Bitcoin is just such an externality. While establisments are somewhat adaptable it would be a stretch to conclude that Bitcoin-like currencies could be fully controlled in a centralized manner. Ultimately though, I would hope there could be a homeostasis between complementary systems that can never be integrated even though they may be interdependent.
+1
The parallels with biological organisms' systems of self-regulation and interdependence are uncanny...
I have a somewhat currently not so far of idea of how to solve it.
Let the system strive and completely collapse, then iterate over every possible in-between and repeat the process recursively. In the end the behavior of bitcoin adaption and it's price could be exactly that.
Interestingly if I apply this scenario on a complete graph there are 2 possible approaches: One where it collapses completely initially and one where it only does to the last pip. Also there are only a certain number of integers where a complete graph is traversed in every possible direction among all vertexes. (I still haven't been able to figure out exactly which ones, it may be only triangular numbers but cannot prove it)
Let the system strive and completely collapse, then iterate over every possible in-between and repeat the process recursively. In the end the behavior of bitcoin adaption and it's price could be exactly that.
Interestingly if I apply this scenario on a complete graph there are 2 possible approaches: One where it collapses completely initially and one where it only does to the last pip. Also there are only a certain number of integers where a complete graph is traversed in every possible direction among all vertexes. (I still haven't been able to figure out exactly which ones, it may be only triangular numbers but cannot prove it)
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