Post
Topic
Board Economics
Re: Bitcoin adoption slowing; Coinbase + Bitpay is enough to make Bitcoin a fiat
by
AnonyMint
on 05/04/2014, 05:37:10 UTC
[Relative value of knowledge compared to the cost of ink will trend asymptotically towards infinity. Or stated the other way, the cost of ink relative to what you earn from knowledge, will trend asymptotically towards ZERO.

I would disagree here, because "ink" producers will be a monopoly while "design" producers will move in a highly competitive field.
Current analogy, How much does it cost me to print a book instead of buying it? (disregarding the fact that it doesn't need printing)

You didn't understand the scaling math.

You expect someone to corner the market of ink? Okay the knowledge producers will simply substitute other materials.

The raw tangible materials are not scarce. The virtual (even anonymous) knowledge is.

The raw material producers can't do their business competitively without the knowledge. We can design bots which bore into ground and mine ore following the highest grade veins with no stripping ratio 100X more efficiently.

Those idiot monopolists will be holding worthless open pit mines. Our zillions of tiny autonomous bots will be mining it out from under them.

The bastards have no chance. Checkmate.

Knowledge is power. What do they have? All they ever had was our inability to organize ourselves decentralized so that we don't need them. Now we have it. We don't need them any more.