Timeline for Would a time-travelling blockchain destroy a cryptocurrency?
Current License: CC BY-SA 3.0
17 events
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| Apr 13, 2017 at 12:52 | history | edited | CommunityBot |
replaced http://worldbuilding.stackexchange.com/ with https://worldbuilding.stackexchange.com/
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| Apr 13, 2017 at 12:47 | history | edited | CommunityBot |
replaced http://bitcoin.stackexchange.com/ with https://bitcoin.stackexchange.com/
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| Oct 31, 2016 at 13:27 | comment | added | Dan | Also, Greece is not Japan, or the US, etc., broader implications of EU effects notwithstanding. If a global economic crisis like that did occur, I have to think there would be some serious governmental disruptions in the major economies. | |
| Oct 31, 2016 at 13:19 | comment | added | Dan | @Armfoot, thanks. About the commodities, I was unclear in my question. I should have specified, is it significant to your story for their values to behave that way -- which, I agree, is a completely logical scenario; I was just wondering if there was something more you had in mind there plot-wise, or just described it for completeness' sake. | |
| Oct 29, 2016 at 2:01 | comment | added | Palarran | @Armfoot I'm saying that knowledge of those future purchases is likely to alter behavior. If you know that somebody is about to buy item X, you might alter the price. That might make the other person not buy it, or buy it elsewhere via other means. Some people will be so freaked out by this future prediction that they'll actively defy it (if only for the sake of proving it wrong). Foreknowledge of stock market investments is also a huge one: if a massive amount of stock in company Y is purchased one day, people might try to snap it up earlier because it's apparently going to be very valuable. | |
| Oct 28, 2016 at 23:02 | comment | added | Armfoot | @Molot "Worldbuilding SE is a Q&A site for writers (...) to construct imaginary worlds and settings", with this "story" I am constructing alternate worlds (or at least one, if you do not accept parallelism) and I am asking for their(its) validation. I previously asked in Bitcoin.SE a related question which helped me formulating this question, thank you for your suggestion. | |
| Oct 28, 2016 at 22:55 | comment | added | Armfoot | @Dan #5 & #7: precious things kept away from the market with little or lack of usability (alternative currencies populating the market) will see their value and their chances of being traded decline. #4: if main currencies collapse, bank runs are inevitable (caused by shakeout/contagion) and insurance requirements may not be satisfied which will cause bank failures and governments' enforcement of restrictions on withdrawals and deposit boxes. E.g.: July 2015 - Greeks' restricted withdrawals & confiscation of deposits. | |
| Oct 28, 2016 at 22:55 | comment | added | Armfoot | @Palarran if you still have the time to detail your explanations in an answer, I'd appreciate. | |
| Oct 24, 2016 at 8:42 | answer | added | Sonic | timeline score: 3 | |
| Oct 24, 2016 at 6:05 | review | Close votes | |||
| Oct 24, 2016 at 15:16 | |||||
| Oct 24, 2016 at 5:46 | comment | added | Mołot | There is a Stack Exchange site about crypto currencies. Maybe they can help? This one is about a story, not about the world building. | |
| Oct 22, 2016 at 19:54 | comment | added | Dan | Interesting concept. Few questions, if you wouldn't mind elaborating, please: For #5 and #7, is it significant that the value of precious metals rises and declines? Aside from the basic concept of demand increasing I mean. People already invest sometimes very heavily in these things during fears of currency issues and the price of these on the market can more or less stay the same. For #4, I'm interested in your thoughts specifically in the United States, where we have the FDIC and NCUA to (hopefully) prevent bank runs, and our currency's relative stability has a lot of influence in the world. | |
| Oct 22, 2016 at 14:52 | comment | added | Palarran | Once that future trade pattern is known, it will no longer become the future trade pattern: people's purchases are likely to change with that knowledge. Pretty soon, that future knowledge will become counterproductive; anybody conducting investments via cryptocurrencies will draw false conclusions about the fortunes of businesses, likely to their downfall (at least of some of their riches). In theory, if somebody sees that investment in their business would drop off in the future, they might assume it means their company fails and alter their actions accordingly. And so on... | |
| Oct 22, 2016 at 14:40 | comment | added | Armfoot | @Palarran Thanks for your comment. Future Bob's intention is not to save the governments/bankers, he wants to ensure he keeps himself as the multi-billionaire he is today. He believes that by killing the cryptocurrencies others in his future timeline will regard him as their hero (a typical villain's ploy). I would like to explore how relevant (or irrelevant, as you put it) is having future trades information, especially if today's traders are located and they are following that future trade pattern or dissociating from it due to the information they analysed about their future selves. | |
| Oct 22, 2016 at 2:54 | comment | added | Palarran | Do something like that, and you most likely kill the cryptocurrencies on grounds that they can't be trusted, can be compromised, etc.; perception tends to beat reality. When the economy crashes, they won't be there to take any other transactions: you're not going to be saving the governments, you're going to be completely screwing up your projected recovery (the lower classes probably won't be able to pick themselves up again, given your scenario). The idea of revealing future trades is irrelevant: most of the "traders" likely don't exist as traders yet, so that information is simply useless. | |
| Oct 22, 2016 at 2:52 | history | edited | Armfoot |
adding tags
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| Oct 22, 2016 at 2:41 | history | asked | Armfoot | CC BY-SA 3.0 |