2015/04/27 by J.A. Bergstra, Jan A. Bergstra, Bergstra, Jan A.
Computer Science · Economics, Econometrics and Finance · Psychology · #Artificial intelligence #Class (philosophy) #Commodity #Complex Systems and Time Series Analysis #Computer science #Computers and Society (cs.CY) #Economics #FOS: Computer and information sciences #Finance #Hierarchy #Maturity (psychological) #Psychology #cs.CY
paper · pdf · doi:10.48550/arxiv.1504.07184
25 pages
arxiv created 2015/04/27 · openalex publication_date 2015/04/27 · arxiv updated 2015/04/28 · openalex created_date 2016/06/24 · openalex updated_date 2026/08/01
For money-like informational commodities the notions of architectural adequacy and evolutionary adequacy are proposed as the first two stages of a moneyness maturity hierarchy. Then three classes of informational commodities are distinguished: exclusively informational commodities, strictly informational commodities, and ownable informational commodities. For each class money-like instances of that commodity class, as well as monies of that class may exist. With the help of these classifications and making use of previous assessments of Bitcoin, it is argued that at this stage Bitcoin is unlikely ever to evolve into a money. Assessing the evolutionary adequacy of Bitcoin is perceived in terms of a search through its design hull for superior design alternatives. An extensive comparison is made between the search for superior design alternatives to Bitcoin and the search for design alternatives to a specific and unconventional view on the definition of fractions.