Half a croissant, on a plate, with a sign in front of it saying '50c'
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It might be better to just get another gerbil.

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biasing money

label the virtual money so humans can add a subtle social biasing
  (+2, -1)
(+2, -1)
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If a pure cryptocurrency becomes mainstream around the globe then adding metadata to the transactions should be trivial. What I am suggesting is labeling money from where it came from when it enters a new transaction.

Money is a virtual system to equate stuff. Instead of equating pigs to shoes, pigs get equated to money, shoes get equated to money. Money acts as universal go between. But now money can be equated to money. Money earns money. Allowing to money to spin off in an uncontrolled disjuncture to the physical reality it was intended. The act of equating real things.

The system is what it is so I suggest labelling the money from it's last transaction. So there could be physical labour money, office labour money, interest money, contract percentage money. Stock market killing money, etc. There is probably more clear cut categories.

You can see where I am going with this. I wonder if societies would start to make subtle biases and demand more of the physical wealth labelled money than easier earned coinage. In effect interest money isn't as valuable as the more real types so will equate as less.

Those trainers, I give you 12 dollars of labour hours and 100 stock market dollars.

wjt, Jun 20 2020


       Wouldn't this lead to the emergence of unbiased meta-money?
pertinax, Jun 20 2020

       I'd propose the opposite: each virtual dollar has a serial number, and banks make virtual change. So I could look up the serial number and mint date of every bill held in my account. Otherwise what's to stop a hacker from wiring themselves infinite electronic dollars?
sninctown, Jun 20 2020

       [pertinax] Each cent has to come from somewhere. I suppose there could be null money but it probably would not have the weight as labour labelled money   

       [bigsleep] True, I suppose any peer to peer data structure can have metadata. Gifting would be the identity function so stolen or   

       Drug money will still have the original label. It's not like illegal activities are going to relabel the money.   

       Wow, that up market cake shop sure had an influx of labour dollars.
wjt, Jun 20 2020


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