Value is subjective but money is a powerful abstraction people use to simplify the mental burden and try to come to consensus on value in markets.
I believe the same is true of the relationship between trust and identity.
Trust is subjective but we use identities (real-world as well as online) to be able to look at a person from a certain perspective. This abstraction of the person makes assigning trust simpler because we can now talk about that person in a specific context between each other.
Money and identity are necessary to create an effective society.
In the information age we recognized the power of digitized money and identity. But since digitization is yet another layer abstraction it is hard NOT to get too far from the real world with digital money and identity.
I believe #bitcoin and #nostr make the right trade-offs mimicking human nature as much as possible.
They are open protocols which makes global consensus possible but the distributed nature creates room for different flavors:
Bitcoin and Lightning make effective free banking possible with #ecash . The different mints will implement different designs and policies attractive to different groups of people.
Nostr clients will use the NIPs they want and are also able to introduce new ones but they all must adhere to the basic architecture: Signed data relayed. Nostr also lets npubs gather reputation in different contexts because you can use the same npub in all nostr apps.
Which ecash mints or nostr clients are winning is always up to people to decide. But I believe we have the right concepts for an effective society for the information age.
Five
npub16p…kfhdw
2024-08-06 08:49:15
Author Public Key
npub16p8v7varqwjes5hak6q7mz6pygqm4pwc6gve4mrned3xs8tz42gq7kfhdwPublished at
2024-08-06 08:49:15Event JSON
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"pubkey": "d04ecf33a303a59852fdb681ed8b412201ba85d8d2199aec73cb62681d62aa90",
"created_at": 1722926955,
"kind": 1,
"tags": [
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],
[
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"content": "Value is subjective but money is a powerful abstraction people use to simplify the mental burden and try to come to consensus on value in markets.\n\nI believe the same is true of the relationship between trust and identity.\n\nTrust is subjective but we use identities (real-world as well as online) to be able to look at a person from a certain perspective. This abstraction of the person makes assigning trust simpler because we can now talk about that person in a specific context between each other.\n\nMoney and identity are necessary to create an effective society.\n\nIn the information age we recognized the power of digitized money and identity. But since digitization is yet another layer abstraction it is hard NOT to get too far from the real world with digital money and identity.\n\nI believe #bitcoin and #nostr make the right trade-offs mimicking human nature as much as possible.\n\nThey are open protocols which makes global consensus possible but the distributed nature creates room for different flavors:\n\nBitcoin and Lightning make effective free banking possible with #ecash . The different mints will implement different designs and policies attractive to different groups of people.\n\nNostr clients will use the NIPs they want and are also able to introduce new ones but they all must adhere to the basic architecture: Signed data relayed. Nostr also lets npubs gather reputation in different contexts because you can use the same npub in all nostr apps.\n\nWhich ecash mints or nostr clients are winning is always up to people to decide. But I believe we have the right concepts for an effective society for the information age.",
"sig": "b88b85342c04f8a941cf2a1e7e6c874ad586bd8507aece34c15dc710c9529931bdef0ab88d3b94bc5e571633db86e3653b112ce4f6c1ba0e9af34bdf24350b4b"
}