Comment Re:bad design (Score 1) 100
Wrong. It has not centrally defined value, but it has value. If you give me X for this painting on my wall, then X is its value, regardless of what X is. It could be US$ or pieces of cake or a service.
Yes, I said that poorly, but you chose to ignore my point. The whole reason we use token currencies comes from the convenience of not pricing things in terms of goods or services. We don't need to value a shovel in terms of chickens, or a cow in terms of a number of hours spent weeding your garden. We can agree that X units of currency will pay for a shovel, Y units for a cow, and Z units per hour for weeding the garden.
As for the "value" of DocuCoin, I would repeat (or perhaps clarify) that the coins themselves have no value, in the same way that me scribbling a crappy picture of a cat on an old napkin has no value. Now, if Jim Davis draws a cat on a napkin, you might have something you can sell on ebay for a buck or two - But that has nothing to do with the underlying "coin" of doodling-on-a-napkin. The drawing, and more importantly, who made it, has value; but that puts us back to "how many Garfield sketches does a cow cost?"
Yes, I said that poorly, but you chose to ignore my point. The whole reason we use token currencies comes from the convenience of not pricing things in terms of goods or services. We don't need to value a shovel in terms of chickens, or a cow in terms of a number of hours spent weeding your garden. We can agree that X units of currency will pay for a shovel, Y units for a cow, and Z units per hour for weeding the garden.
As for the "value" of DocuCoin, I would repeat (or perhaps clarify) that the coins themselves have no value, in the same way that me scribbling a crappy picture of a cat on an old napkin has no value. Now, if Jim Davis draws a cat on a napkin, you might have something you can sell on ebay for a buck or two - But that has nothing to do with the underlying "coin" of doodling-on-a-napkin. The drawing, and more importantly, who made it, has value; but that puts us back to "how many Garfield sketches does a cow cost?"