Abstract

Cryptocoins are peer-to-peer monetary assets emitted not by a central authority but by a decentralised network of economy’s participants. Their existing implementations combine the state of the art cryptographic methods with notions of « transparency of coin’s history » and « pseudonymity of usage ». While the market value of Bitcoin -which was the first among the cryptocoins - is very volatile, it nonetheless becomes more and more demanded an asset due to its a priori defined limited amount. Thus, a billion dollar economy has already formed in the cryptosphere, which includes the stock markets, currency exchange offices or a biggest existing online drug market. By this paper we aim to address the questions like « To whom do the structures like Bitcoin ultimately serve ? » and to propose an idea that further growth of cryptocoin economy could induce a sort of Nietzche’s «transvaluation of values».

Keywords:
Keywords : bitcoin, cryptography, pseudonymity, transparency of history, hoarding, trading addiction, cryptocoin operation generator, peer-to-peer, planetary AI emergence

Content:
1) Hermeneutic reference
2) The myth of Satoshi
3) Transparency but pseudonymity
4) Min(t)ing and trading
5) Algorithmic quasi-deity
6) Clash of the Titans
7) Umwertung aller Werte

Presented by DDH at the Annual Congress of International Association of Computing and Philosophy (IACAP) in July 2013 @ University of Maryland University College (UMUC)

backup: http://wizzion.com/papers/2013/cryptocoin-avarice.pdf