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Author Topic: Feedback Patterns in the Bitcoin Economy  (Read 2753 times)
Zangelbert Bingledack
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February 18, 2013, 06:16:13 PM
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Was playing around in MSPaint, thinking about how everything interrelates. The green arrows mean "drives." Thoughts?
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AsymmetricInformation
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February 18, 2013, 06:21:33 PM
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Normally I hate stuff like this, but this one I really like.

You do need a 'X Website Hacked' node fed by 'Bitcoin Price' with a big red arrow back to 'Bitcoin Price', though, I think! Maybe a 'Ponzi' node as well!  Grin

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February 18, 2013, 07:09:28 PM
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Was playing around in MSPaint, thinking about how everything interrelates. The green arrows mean "drives." Thoughts?

I'd change "Higher BTC price" to "Higher BTC exchange rate" (or "Higher BTC exchange ratio" or "Higher BTC exchange value")

Then I'd add a green arrow from Merchant adoption to "Higher BTC exchange rate" and another green arrow from User/community adoption to "Higher BTC exchange rate".

There is probably a green arrow from "Higher BTC exchange rate" back to "Long-term investment interest", since the prospect of increased returns drives people to transfer wealth into bitcoin.

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
knight22
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February 19, 2013, 12:54:50 AM
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Media interest doesnt rise only because of higher price of bitcoin but also with major events surrounding it.

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February 19, 2013, 12:57:38 AM
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I would remove the line between user adoption and media.   It is very difficult to directly measure user adoption and it certainly isn't something the media is trying to do.  The media "ballparks" adoption by indirect methods like the exchange rate (value of money supply), and/or merchant adoption.
DannyHamilton
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February 19, 2013, 04:09:09 AM
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Media interest doesnt rise only because of higher price of bitcoin but also with major events surrounding it.
I believe that's covered with the green arrows from "community adoption" and "merchant adoption" to "media attention"

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
DannyHamilton
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February 19, 2013, 04:12:04 AM
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. . . It is very difficult to directly measure user adoption and it certainly isn't something the media is trying to do . . .
Sure but user adoption still drives media attention.  Users contact the media. Some of the media perhaps are users.  Users discuss bitcoin in public forums (such as G+ and bitcointalk.org) where the media creators encounter it in search results and investigation into related topics.

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
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February 24, 2013, 09:30:18 PM
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Was playing around in MSPaint, thinking about how everything interrelates. The green arrows mean "drives." Thoughts?

if you wanted, you could try inkscape, a nice opensource vector drawing tool also available on windows next time you do something like this.

really like the content. well done

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markm
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February 24, 2013, 09:36:42 PM
 #9

Darn, no "maximum block size" nor even "transaction volume", but supposedly the sky would fall without bigger blocks, if so surely that warrants an arrow or some arrows somewhere?

-MarkM-

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February 24, 2013, 10:47:43 PM
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Darn, no "maximum block size" nor even "transaction volume", but supposedly the sky would fall without bigger blocks, if so surely that warrants an arrow or some arrows somewhere?

-MarkM-


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DannyHamilton
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February 24, 2013, 11:19:20 PM
 #11

Darn, no "maximum block size" nor even "transaction volume", but supposedly the sky would fall without bigger blocks, if so surely that warrants an arrow or some arrows somewhere?

-MarkM-


Yep.  Need to add Transaction Volume and Transaction Fees to the graph and the following green arrows:

User/Community Adoption => drives => Transaction Volume
Merchant Adoption => drives=> Transaction Volume

Transaction Volume => drives => Transaction Fees

Transaction Fees => drives => User/Community Adoption
Transaction Fees => drives => Merchant Adoption
Transaction Fees => drives => Mining Profitability

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
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February 25, 2013, 05:34:04 AM
 #12

Transaction Fees => drives => User/Community Adoption
Transaction Fees => drives => Merchant Adoption

How to these 2 work? Shouldn't fees dampen Adoption?

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DannyHamilton
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February 25, 2013, 05:38:36 AM
 #13

Transaction Fees => drives => User/Community Adoption
Transaction Fees => drives => Merchant Adoption
How to these 2 work? Shouldn't fees dampen Adoption?

Higher fees drives lower adoption.
Lower fees drives higher adoption.

The idea being that fees have a direct effect on adoption.

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
markm
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February 25, 2013, 05:44:39 AM
 #14

Yeah maybe use red arrows for drives down and green for drives up?

-MarkM-

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