

 HybridCurrency - Any idea what they're up to? - nickpinkston
http://www.hybridcurrency.com/

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nickpinkston
Looks like something more than just virtual currency a la WoW gold or Linden
dollars. They follow/get followed by a lot of YC-type people, so I figured HN
might know something about them.

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clistctrl
I'm no economist, but theres a fundamental problem with currencies I can't
understand. From what I've learned a unit of currency can represent 2 things,
A, a portion of wealth, or B a promise to create wealth. A dollar today is
agnostic. I feel the only reason the system works even remotely is because of
its scale. Because its so large, and developing the system is easily capable
of absorbing impacts.

I've been toying around with the idea in my head for the past year and a half
of how a virtual currency could work. Computers, and the internet provide a
unique opportunity to store the representation of what wealth a currency unit
is representing, as well as tracking the changes. If the wealth is destroyed
in theory it should be easy to know how much to deflate the currency.

The problem though, is if you implement a system such as this what you created
is not a currency but a virtual barter system.

So how do you create a virtual currency that has an accurate representation of
wealth, and available resources for future wealth that can also be saved, and
traded for anything?

