NPR Plugs CryptoKitties 'Purring' In Millions to ...
NPR Plugs CryptoKitties 'Purring' In Millions to ...
The Island Of Stone Money : Planet Money : NPR
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Here's the letter I just sent to Planet Money indicating that I would like to donate to their pledge drive in DOGE.
Preamble: For those of you who may not know of Planet Money, it's an NPR backed Podcast that specializes in economics. It's well respected and very popular (as in, the 10th most popular Podcast on iTunes, out of ALL podcasts). As with all NPR programs right now, they are in the middle of a pledge drive. I have offered to give them 100,000 DOGE if they put a Dogecoin address on their website. Maybe you'd like to donate too? Maybe you'd like to let them know that you have some DOGE for them? Email: [email protected] twitter: @planetmoney Planet Money does amazing work, and I will probably support them regardless of whether they accept DOGE. But I do think that if we can get their interest they will realize that there's an amazing story here that's worthy of their coverage. Dear Planet Money team, By now you are probably aware of Dogecoin, the new crypto currency that's getting a lot of attention lately. I would like to tell you why I am personally committed to Dogecoin, and how Dogecoin may benefit Planet Money directly.
Dogecoin is altruistic. The Dogecoin community believes in spreading the wealth and has donated to many causes including the Jamaican Bobsled Team and various experiment.com projects. People routinely tip small amounts of Dogecoin to others simply because they liked something they made or enjoyed their comment on Reddit.
Although it wasn't planned, Dogecoin has stumbled into an amazing strategy for generating support for the currency. Tipping creates good will among the Dogecoin community, and introduces people to Dogecoin. Tip somebody a small amount of Dogecoin and they become curious to know more. Soon they realize that Dogecoin is fun, and it's the fun that makes the currency valuable. People are proud to be affiliated with Dogecoin. When was the last time that people were rooting for a currency to succeed, simply because it makes them feel good?
Dogecoin is a brand. This wasn't planned in advance, but the tongue-in-cheek nature of the currency has created a lot of fan art which helps feeds back into community good will and more tipping. For example: here, here, and here. I challenge you to name one currency, or anything in economics for that matter, that has inspired fan art?
Dogecoin solved one of Bitcoin's biggest problems: hoarding. Tipping and donating is a central to the Dogecoin community so the currency flows much more fluidly than Bitcoin. Although Dogecoin is actively traded, its value is remarkably stable for a currency that's only 3 months old.
Finally, I would like to propose an experiment. Since you're in the middle of a pledge drive right now, give your listeners who use Dogecoin a chance to show their generosity. All you need to do is put a Dogecoin wallet address up on your website. If you need help figuring out how to get an address, you can read the "getting started" guide or I can personally help you out. The cost to you is nothing, except for the small amount of time it takes to put the address on your site. If you set up a Dogecoin address and post it publicly, I will personally pledge 100,000 Dogecoins to Planet Money. Converting Dogecoin to USD is not difficult, but you may want to use some of the Dogecoins to participate in the Dogecoin economy. I bet the experience would make a fascinating podcast! To the moon, [my name]
Cryptokitties is a blockchain-based virtual game that allows players to adopt, raise, and trade virtual cats using Ethereum. The game was made by Vancouver based blockchain company Axiom Zen. Sales of The NPR Planet Money team, for their podcast on Bitcoin a few weeks back, interviewed the Harvard economist Benjamin Friedman. As another economist that I recently wrote about, in arguing that Bitcoin will ultimately fail, he appealed to the role the government plays in bolstering and securing the widespread adoption and use of the US dollar ... The NPR Planet Money podcast/article does a good job of summarizing the events of 1992 . In the Brazil situation the country had control of both currencies and could set the exchange rate. I don't see how using Bitcoin would eliminate the problem that the country is experiencing: an unstable currency. Most developed countries target around 2% inflation. Bitcoin has not had that kind of ... Bitcoin halving is a significant event (every ~4 years, or 210,000 blocks, the supply rate of new coins is halved) – this doubles its S2F ratio and increases Bitcoin’s value. Currently, Bitcoin has an S2F ratio of 27 – the model estimates the price to be little under $10,000 per bitcoin One key thing about this money: It was really heavy. A big piece could weigh more than a car. As a result, this very concrete form of money quickly made the jump to being something very abstract.
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