We started writing about crypto currencies because we needed a new way of talking about the math behind crypto currencies. It was getting hard to explain the ideas in plain English.
We found a way to make math sexy, by making it into a story. This led to some folk songs and jokes that made sense to a small fraction of our readership, but we didn’t make money from them; they were just fun.
Then we realized there was an opportunity here: A big part of the value of crypto currencies is that it’s still possible for people who don’t know anything about them to make up their own stories about them. What if we turned that into something else? What if we could start a blog about market capcoin and use that as part of our marketing?
It would be a blog about our brand.
One person’s brand is another person’s third-rate knockoff. That’s why we’re going to call this a blog about our brand, not a blog about Bitcoin. The Bitcoin brand has become so powerful that you can’t hope to compete simply by doing your own thing and calling it Bitcoin. If you want to compete with the Bitcoin brand, you have to use the same words, pack your product with the same logos and look as much like a retailer as possible.
That’s why we’re going to make up new words: “marketcapcoin” will refer to a new kind of product that is itself a coin, but not one that is backed by or convertible into Bitcoin or any other real currency. We’ll make all sorts of plausible-sounding claims about its value, but the truth is exactly the opposite: it has no value, except in terms of what people think it’s worth.
We’ll call it that because it’s just like a stock or bond or other financial asset – except that it isn’t traded on any stock exchange, and there are no regulations requiring anyone to hold one or pay taxes on it when they sell it – but also because we want investors to think of financial assets as almost but not quite like Bitcoins (i.e.,
The title of this blog is “marketcapcoin.” Marketcapcoin is a brand. It has no meaning apart from that. Marketcapcoin was born in 2012 as an attempt to do something new with a brand.
Marketcapcoin is not just a website. It’s a way of thinking and talking about money, markets and companies that goes beyond the traditional uses of words in business.
Marketcapcoin: 1) describes how value is created in markets and 2) explains how you can use that knowledge to make more money by investing in companies that create more value.
In marketcapcoin, when you talk about a company, you’re really talking about yourself. How can you make more money by investing in yourself?
A blog about our brand.
We are not a company, and we don’t believe in being one. We see ourselves as an organization of people who want to make the world a better place by improving the ways people interact with each other.
We should emphasize that we don’t intend to improve the world by using our products to alter it in any way. Like many of the companies whose values we admire, we encourage people to innovate and experiment; unlike some companies whose values we admire, however, we do not expect those innovations and experiments to change society in any way.
One reason for this is that we don’t think technology can solve all problems. We also think there are limits on what technology can do for us, as individuals as well as for society at large. Not every problem has an obvious solution, and even if there were a perfect solution it probably wouldn’t fit with how society actually works; after all, how else would it get used?
And society is not just the sum of its members; it is also a phenomenon that takes place in time and space. It’s hard to improve things if you don’t know where they are or when they start or why they are the way they are; you can’t put them back in a box before
Marketcap is a project to build a simplified, lower-cost and faster way to create tokens. Tokens are units of value used as currency in various software systems, such as on a blockchain or for crowdfunding. The fastest way to create tokens is not to do it yourself but to buy them from someone else who has already done it.
Any token creation process that takes even 10 minutes is too slow, compared to the convenience of having someone else do it for you. So we want to build a token-creation engine that allows anyone to generate tokens in seconds by providing no more information than what they need to sign up for an account and email address.
We call this operation “marketcap.” We also intend to include mechanisms so that tokens can be exchanged between marketcap users, and so that marketcap users can create new tokens at will.
In the world of cryptocurrency, there are several different kinds of coins. There are “blockchain” coins, which have no real world value but simply record transactions on a public ledger. There are “utility” coins, which have no value because they do not perform any useful function. Then there are “investment” coins, which do perform some useful function, but have no intrinsic value. In the past year or two, there has been an increasing tendency to make all these things into tokens, with their own custom token platform and unique token ticker symbols and how-to guides and user groups.
But while cryptocurrency is in many ways becoming more technical and bureaucratic, it still retains a strong element derived from the internet culture of a decade ago: a strong sense of personal identity and brand marketing. It started as a way to transmit money without banks; now it’s a way to transmit personal information without people.
It is hard to say precisely where cryptocurrencies fit into the scheme of things. I like to think of them as another kind of money, one that you can build in a distributed way**, with a currency unit and a ledger. It is better than what we have now but not as good as what we might have.
In their early days, most cryptocurrencies were meant to be used as money. They were designed to work like existing currencies, except that they had no central authority, like no central bank or country behind them. The idea was that they could be traded and used just like existing currencies.
Why didn’t they take off? Why did no one want to use them for anything else? Maybe because it seemed too hard; maybe because it seemed too easy; maybe because people thought it would be too inflationary.