I read that pdf and the only similarities I see between "ideal money" and BTC is a common theme of anti-inflation & anti-central banking.
u read the whole thing, realized the fundamental main points are identical, the mans name is inside the psuedo name and u still wont accept it?
The cool factor of Nash = Satoshi might appeal to "geeks" but it doesn't change the underlying weakness of BTC as currency system. Nash's "ideal money" uses a basket of commodities (CPI) in place of a gold standard, whereas, BTC uses arbitrary and artificial scarcity in the code so it "acts like gold". "Ideal money" is closer to Keynes "bancor" than BTC.
Don't get me wrong. The Nash is genius and I love to study game theory. Still, I'm not convinced that deflation is preferable. I'm a firm believer that money needs elasticity to meet demands of the economic cycles.
you are describing a economy with ideal money, todays revolution is asymptotically ideal. the commodities index happens in a future u cannot perceive but nash has, when money has a new meaning.
Nash spends an entire section talking about savings and why inflation hurts savings. I hear the same argument from bitcoiners all the time. But this rarely reflect reality of most people's lives. Nobody saves money in cash. Most of the middle class own property as their main wealth asset.
Deflation puts long term borrowers at extreme disadvantage. Deflation makes it hard for people to make big purchase like a house, student loan, medical bills.
In any case the macro is more complex than the neoi classical model I'm presenting. At the macro level, deflation can lead to recession and depressions
how about we listen to this man, and believe in him
http://s4.postimg.org/t7ip0ejot/start.jpghttp://s9.postimg.org/xrl14qsbj/nash2.jpghttp://s8.postimg.org/8o4i9b95h/Captureintro.jpghttp://s22.postimg.org/fve8e63nl/Capture3.jpghttp://s14.postimg.org/dpuymzk8x/Capture4.jpghttp://s16.postimg.org/50bc6nox1/nas10.jpghttp://s8.postimg.org/hspw6gtn9/Capture7.jpghttp://s11.postimg.org/5u759hx77/Capture9a.jpg