My prior post “The Tail of Two Cities” demonstrates that the intangible social value conjured into existence by the bridge that connects two fair cities far exceeds the ‘tangible’ value of that bridge. Yet, only the tangible value of the bridge is accounted for on a balance sheet such as GDP.
This may seem trivial until you observe that people are paid for their intangible assets (knowledge, creativity, and engineering calculations) as a percentage of the far lower number while the bankers, government, and corporate interests compensate themselves as a percentage of the far higher number. The difference appears to be unaccounted for.
The Tail of Two Cities article concludes that the value that is conjured into existence by both the bridge and the fractional reserve system must be equal, by definition; otherwise the metaphorical breezeway that connects the two worlds would fall.
Bitcoin suffers from a similar curse as The Tail of Two Cities. The prevailing argument against the crypto-currency is that it has no intrinsic value. I have personally argued that a currency must represent human productivity intrinsically or else no other human would be willing to work (be productive) in exchange for it. An article by Paul Bohm “The Value Of Bitcoin is Decentralization” makes a good point that the intrinsic value of Bitcoin is based on the value conjured into existence by increased productivity to society by what can be accomplished with Bitcoin that otherwise would be impossible without Bitcoin.
So if the valuation of a bridge crossing the river and the valuation of Bitcoin crossing the broker both suffer the same curse that there is no accounting system for intangibles, wouldn’t it make sense to solve that problem first – i.e., measure into existence the intangible value of the Ingenesist – and then release those millions of human intentions (bridges and Crypto-currencies, not withstanding), into the system of trade? This is the problem that Curiosumé proposes to resolve.
I believe that we first need to solve the under-mining problem that there is no accounting system for intangible assets. Only then can there be intrinsic value in the conservation of those assets
… then maybe none of this would seem so mysterious.