We must not forget the power of this technology.
What is this revolution taking us to? What is it?
This is a paradigm shift where the problem of monetizing Value has become moot; This technology allows us to do that, we can monetize any value that people are willing to support.
Anyone can now fund a cause by quantifying their contribution, whether it is by money, moral values, admiration, or any factor, this technology has truly created programmable rewards in a very complex ecosystem.
And this technology is free for everyone... just think about that; You no longer have to wonder, " how am I going to fund that cause?" What are the market constraints against what can be done with the power of human belief? none, the market value of a coin becomes it's native support among the population and the awareness of that cause.
The old world used to trade different objects for their perceived value, innovation and difficulty to make, we called it barter, but were limited by the needs of others and the transportability of those objects; This created limitations on the scope of trade.
so one day we invented money, a object, an idea that could be exchanged for anything material and could convince others to work for it to trade, this had it's limitations. The idea of trading objects/actions for objects/actions, became objects/actions for money for objects/actions, without that initial object you could not fund change to convince others toward your cause; It was limited in how abstract motives and actions could be funded," the availability of objects became the inherit limit of this technology called money."
But, this new paradigm?... it is value/belief for money for objects/actions. This new technology can fund change without the constraints of needs and wants, you can change someone's life by just belief alone, you don't even have to ask for a loan from the bank... you just have to believe in what you are doing. Quantify the efforts and contributions from the true believers of your cause and they will reward you in ways that the old system could never do.
When anyone can create money what can you fund?
All you have to do is create a double Proof of Work, Use Bitcoins POW or Litecoins scrypt, merge mine with them to gain instant security and mining power, and then distribute your coins for a cause, the work that others do is the second Proof of Work.
now anything can be funded, and the ecosystem of the Cryptocoins can thrive in a complex array of markets, not just for objects or money, but markets that gauge the demand and supply of human needs and values that before could not be monetized.
A market where causes, beliefs, movements, ideas can be traded; The ebb and flow of the collective thoughts of humanity.
Just wait till Open Transactions is fully operational, then you will know what I am talking about, May a thousand currencies bloom.
Very nice post.
I want to add that the best coin to copy for this is Devcoin. They have a model where when I block is mined, 10% of the coins in that block go to the miner, while the other 90% goes in the wallet of a writer.
The only problem would be writing the script that gets the coins from the blocks to specific wallets.
But if a company wants a coin, I bet they will already be trying to get in touch with the right people to get it done.
