Quote from: iamnotback on November 07, 2016, 06:28:07 AM

This is the Bitcoin killer.

Actually maybe not true. Because my design makes the most improvements for microtransactions.

I do believe my design is a Bitcoin killer any way, in the sense that I think microtransactions are the big enchilada of the near future despite them being maligned up until now:

http://hackingdistributed.com/2014/12/17/changetip-must-die/

It is necessary to eliminate the cognitive load of each microtransaction with automation.

The reason is that most of what people do online is for fun. And the earnings that some companies make now online derives typically in the pennies per user. When you've only got to extract a few pennies from each user, the users don't care what it cost especially if they don't have to do a damn thing to pay. The low hanging fruit for crypto-currency is not replacing high valued transactions, since everyone already has a well entrenched option for that called fiat.

I think we are moving to a collaborative economy (e.g. open source) where we want to throw a few pennies towards each thing we use each day, then these get aggregated (funneled in) on projects and fan back out as salaries and commissions in morsels that enable people to pay rent, buy food, etc.. I don't think the majority of our Knowledge Age economy will be large ticket item sales, because most of what we will be producing will not be one-off creations with high effort for one user/customer (we may have customization per user but it will be automated). Economies-of-scale will continue to increase (as they did for factories in the Industrial Age), although customizability will also increase due to technological innovation, e.g. 3D printers and software (which was not possible in one-size-fits-all factories).

This is sort of the economy I have envisioned ever since I wrote the seminal essays that appear in the OP of the Economic Devastation thread.

Quote from: iamnotback on December 01, 2016, 12:37:33 PM

Quote from: s.matthew.english on November 30, 2016, 10:36:42 AM

When you post something on a popular microblogging service and it generates a high degree of positive feedback by some metric, for instance likes, you have just created value for that company.

When you issue a query to an Internet search engine and click through to a result, you have just created value for that company.

When you post a photo of your handsome face to a certain service, and many people share it across the Web... you probably get the picture.

...

Good news?

In the modern economy, people are being made redundant and laid off in droves, hordes of young people are unable to find employment and the competitiveness of the now global labor market have increased. Perhaps compensating people for incremental micro-contributions to online platforms will create for them a new sustainable career path.

*The fact that youre reading this article greatly increases the probability that you fall into this category.

That text comes from my latest article on CoinTelegraph, you can see the original post here:

https://cointelegraph.com/news/steemits-new-business-model-shows-how-compensation-by-micro-contributions-works

Congrats. You are repeating what I wrote about on Nov 7, which is something I've been writing about since 2013 with proof as linked in the following self-quote:

Quote from: iamnotback on November 07, 2016, 05:25:42 PM

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