Coinplexity Project P&L: -2 (≃ -21 EUR)
If you owe or had lost any cryptocurrency that exploded in market price, you know how unforgiving it may be. There's good news: cryptocurrencies are NOT fungible, that is -- not if people (and machines) have a formula to compute and care about their underlying asset -- number of computations in expectation at the moment of mining it, call it "coinplexity" at a particular date and time. However, computation operations (like the number of binary additions) can be fungible.
The purpose of this project is to provide tools for anyone to see clearly amount of computation that went in to the balance of any cryptocurrency wallet or addresss, and determine the distribution of blocks, with associated difficulty level, producing unitless measure of the number of mathematical computations that went into doing it, creating a new metric and asset class -- integral of computational complexity itself. Our goal here is to write code that, given a cryptocurrency address, computes the distribution of blocks and their estimated difficulties, approximating total number of required computations for that specific balance, and create conditions to exchange computational complexity as currency.
User story: an app, where user enters a cryptocurrency address, and it displays the blocks distribution in it, finds deals to allow for exchanging into other currencies totaling the same time-complexity in them.
This can work as a basis for a wallet that recognizes time-complexity as currency, and people who want to charge their wallet with time-complexity, and use time-complexity in payments, then would not care how much crypto-currency they buy -- they would care how much time-complexity appears on their wallet, when they transfer that cryptocurrency. That, ultimately, would resolve the scandal of money (market manipulations and cheating) in context of cryptocurrencies, as people would realize the new reality: computational time-complexity as the underlying asset of coins, as the ability to instantly exchange various coins from one to another based on time-complexity parity would create a new reality in people's minds, where they start treating cryptocurrencies for what they are, not for what people believe them to be: the question of "How much complexity do I get for your bitcoin?" would make sense. The new people joining in right now would have more motivation to join, because their new time-complexity capabilities with new hardware would mean that they would be rewarded more (in a sense, the future would be rewarded more than the past, people would stop being hording and keeping coins -- the new economy of free trade rather than hording would emerge!).
Additionally, that would make cryptocurrencies -- deflationary in time-complexity measure, because of Moore's law: the better machines we have, the more we'll mine, and price won't be artificially (just because a programmer written so in code) inflate -- it'll work like a stable currency should.
Ok. So, I wrote this question on Bitcoin talk, and now, I nearly downloaded entire its blockchain. I'm thinking: I'll try to compute it, publish an article somewhere, for example on Bitcoin magazine, and link it to Slashdot, and others, so that market analysts start questioning it, all realizing that this thing is real (oh, hoarders can't hide it). Expectedly -- this new reality will shift the expectations of market analysts, starting to worry about the future of its price, and start all computing their time-complexities in all of their crypto-wallets, to see what they actually got :)
The result here will be a few hundred gits on my disk, and next up, I'm going to write some ETL code, which I'll link here.
// Jei pirkdami žmonės ieško monetų skaičiavimo sudėtingumo, visos monetos yra panašios į NFT.
Na, patys skaičiavimai būtų keičiami, o monetos senąja prasme - ne.
// If people look for computational complexity in coins when buying them, then all coins are like NFTs.
Well, computations themselves would be fungible, while the coins in the old sense would not.
Piniginės piniginėse „turi“ sumą, kurią ji teigia turinti, nes mašinos tiki balansu, apskaičiuotu vienu konkrečiu būdu. Jei pristatytumėte tą kitą (teisingesnį) balanso skaičiavimo būdą, tai pakeistų žaidimą.
Jei perkant žmonės ieško monetų skaičiavimo sudėtingumo, visos monetos yra panašios į NFT.
Currency wallets "have" the amount it claims to have, because machines believe in the balance computed one particular way. If you introduce that other (more correct) way of computing balance, it would change the game.
If people look for computational complexity in coins when buying them, then all coins are like NFTs.