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The Almighty Buck

Messenger App Kik Debuts Its Own Digital Currency (bloomberg.com) 51

The messaging app Kik Interactive has decided to create its own digital currency. Kik's plans are for an "initial coin offering," a process by which it sells tokens that can be used to buy services on its platform. "The idea is that as more and more people use Kik, the value of those tokens, called 'Kin,' will rise in value," reports TechCrunch. From the report: Kik, which has raised about $120 million (in real money) from investors including Tencent Holdings Ltd., could serve to add a new layer of legitimacy to the process. "Kik will be the largest install base of cryptocurrency users in the world," Chief Executive Officer Ted Livingston said. "Kin, on day one will be the most-used cryptocurrency in the world." The move comes as Kik finally reveals how many people actually use its app regularly each month: 15 million. That's a far-cry from the 300 million total registered users number it was sharing around this time last year. Kik plans to gift a certain amount of Kin to each user. They'll be able use the new currency to buy games, live video streams and other digital products. The company's goal is to attract new merchants to sell on the platform, creating a snowball effect where Kin becomes more valuable and more sellers pile onto Kik, increasing its popularity.

Comment Re:Meh. (Score 1) 281

Based on your UID (plus I know you've been hanging around these parts for a long while) I would wager you are not a student in a US math class. This story isn't about you, so maybe hover your finger over the submit button before clicking to decide whether you are contributing to the conversation.

If you are a student, or (more precisely, because we pay for these devices) a parent of a student in the school system, this story has some relevance, because it's about what the bureaucracy requires whether you like it or not. This is good news for those people.

You, Mr. Frosty Piss, can use whatever calculator you want. Have fun with that.

Kind of dickish.

Comment There's a reason why you don't use Win Calc much (Score 1) 281

I don't see how a calculator with no physical buttons is superior to one that is a tactile object, and as the calculator is "embedded" into the test itself, that means switching back and forth between the two apps. This is a bad kludge that sounds painful to use.
The Almighty Buck

April Jobs Report: 211,000 Jobs Added, Unemployment At 4.4 Percent (npr.org) 198

An anonymous reader shares an NPR report: The U.S. economy added 211,000 jobs to nonfarm payrolls in April, the Bureau of Labor Statistics says. Both the unemployment rate, at 4.4 percent, and the number of unemployed persons, at 7.1 million, saw only incremental changes in April. The new data follow disappointing results from March, when the Labor Department initially said less than 100,000 jobs were created. In April, some of the biggest job gains came in leisure and hospitality, health care and social assistance, financial activities, and mining, the agency says.

Comment Made up misleading def of "consumer surplus" in OP (Score 1) 251

Consumer surplus relates to marginal utility, where the consumer surplus is the difference between the purchase of the product or service and the subjective value, i.e. utility, to the consumer. When consumer surplus reaches zero, i.e. the value of the product or service is equal to the purchase price, the consumer ceases purchasing the product or service. Source: Alfred Marshall.

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