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Let's talk about #cryptoeconomics and #tokeneconomics
1. Crypto economics ≠ token economics
2. Token economics ≠ tokenomics
3. Token economics ≠ token design
4. Token design ≠ tokenomics
Resources at end of 🧵
1. Crypto economics ≠ token economics
2. Token economics ≠ tokenomics
3. Token economics ≠ token design
4. Token design ≠ tokenomics
Resources at end of 🧵
Crypto economics is the study of designing embedded incentives of the system to hold desired properties with the goal of validating and agreeing on messages and information transacted in the system.
This can include messages being transferred like Ethereum, or information being kept like Filecoin.
1)Policy Is Not Policy
Changing taxation, for example, is not a policy that alters the name of our economic game, it merely manipulates the remuneration of the current game. And a policy that changes undesirable consequences is not equal to a policy that changes cause.
Changing taxation, for example, is not a policy that alters the name of our economic game, it merely manipulates the remuneration of the current game. And a policy that changes undesirable consequences is not equal to a policy that changes cause.
2) prolific adjustments to the dials at the bottom of our economic food chain are merely band-aids, not remedies to prevent the undesirable consequences from occurring in the first place. An ounce of prevention in a foundational policy is worth a pound of cure. @realmethod41
3) Indeed, after having dissected the quality of the operating systems of humanity that communicate our ingrained beliefs, I suggest we bow down in embarrassment to what playground, described above, we currently leave to our children.
So many terms floating around lately in relation to #DecentralizedNetworks, protocols, staking, and mining. The following Twitter-Wiki is how I understand all of these closely-related, but subtly different concepts. . . 👇
#DecentralizedNetwork - In our #Blockchain context, a P2P network with a protocol that can trustlessly transfer value in the form of #DigitalAssets.
#GeneralizedMining - Extraction of on-protocol compensation from #DecentralizedNetworks through the provision of #SupplySideServices, liquidity, or alpha-generating activities. (cc @coinfund_io, @JoeLallouz)
Provocative exploration of #crypto valuations that goes a layer deeper than all prior works, starting with the question of: “what do we value?” google.com/url?q=https://…
2/ #Cryptoassets will allow us “to develop multiple indices of valuation that reflect different social priorities the way that profit price reflects capitalism’s priorities.”
3/ The group of professors & thinkers that put together the piece will be holding a #cryptoeconomics workshop at @NYUStern on 9/26, event info here: medium.com/econaut/crypto…
Here's how to start with Token Engineering and Cryptoeconomics.
This thread is a summary from @trentmc0's introductory talk at the #tokenengineering workshop.
#Cryptoeconomics #Blockchain
This thread is a summary from @trentmc0's introductory talk at the #tokenengineering workshop.
#Cryptoeconomics #Blockchain
1. "Show me the incentive and I will show you the outcome" - Charlie Munger
Token based systems are generally modelled aroud incentives and outcomes.
Token based systems are generally modelled aroud incentives and outcomes.
2. When doing #tokenengineering for a system, first step is to define/list the participants/ stake holders of the token economy system.
I realize I should spend some time on explaining why I think blockchain is a "rent-dissipating Aumann Machine", seeing that I made that up on the spot. This is going to get hardcore wonky for the #cryptoeconomics geeks. Looking at @VladZamfir, @VitalikButerin and maybe 2-3 others
Robert Aumann's major contribution to game theory is the formulation of the "correlated equilibrium", a generalization of the Nash equilibrium, especially mixed Nash. He got the Nobel for it but it's still not well known, partly bc it's, well, weird.
Aumann's insight was that there's a way to improve on the payoffs for mixed Nashs if we find a way to let the players "correlate" (or "coordinate") their actions. Money quote: "Now consider a third party (or some natural event)"... 
