Hayek vs Friedman

[Sabreiib]

http://www.austriancenter.com/2013/07/09/hayek-versus-friedman-concurrent-currencies/

Intetestiing article. The conclusion is

1)If network effect and switching cost is high, in cryptoworld BTC is hardly to be replaced by its imitators. And USD is hardly to br replaced by Tether/NBT. But if a first popular Hayek money comes into being, it’s also hard to replace it by other Hayek copycats.

2)If the network effect and switching cost is low, Hayek’s theory probably becomes true in future.

So how about issue a Hayek money with BKC and make switching cost very low in BCE? At least in future we will have lightning network tech which is one million per second trade ability.

Cryptocurrency for the first time in human history gives the exact experiment chances to test monetary theories. Location restrain is removed, as long as you live on this planet with internet, you are free to choose among BTC, LTC, DOGE etc, and the shapeshift service makes switching cost low. People can even lower the switching cost lower by lightning network.

Time to test truth!

[crypto_coiner]

Hayek money with BKC

You want to introduce some BKC LPC?

[Sabreiib]

It’s up to BKS holders, I guess there is disagreement about spread pegging in our community.

Some believe we should provide strict pegging(less than 1% spread), the smaller spread the better quality, but strict pegging costs a lot, so quite some people are in dilemma.

Other people such as @masterOfDisaster like big spread pegging, and get accused by Jordan.

My opinion is just stop fighting stop quarreling, begin to experiment. How about provide liquidity to BKC at 10% spread, and leave profitable room for free market speculators?

Since BKC has no pegging plan at all, such experiment is acceptable even it fails.

None of us has a crystal ball, be modest please.

[crypto_coiner]

My opinion is just stop fighting stop quarreling, begin to experiment.

That is what we do at Nu – we are currently experimenting the string peg with this time, centralized LP.

To begin LP on B&C, you need to tweak a bit the client with liquidity monitoring –
Perhaps you may want also to wait and see how the ongoing experiment at Nu will fare –

[Sabreiib]

I don’t like the way Nu is doing, too centralized and tedious to maintain.

I am a fan of K I S S, keep it simple, stupid, the unix culture. We only provide base line, the official buy/sell wall at 10% spread, the remaining is left to free market, decentralized, free, simple and robust.

[crypto_coiner]

the official buy/sell wall at 10% spread

Where’s that formalized?

[Sabreiib]

Just my suggestion, I don’t know whether the shareholder will accept it by passing motions, but I"ll try.