Benefits
- There will be no competition, the price of a product, service, resource will be completely based on how many entities are providing it
- The economy will be purely driven by supply and demand
- New products, services, and innovations will be rewarded well by being given a higher bitcoin value because of its rarity
- As the number of bitcoin products and services increase the price of other bitcoin products will not increase or decrease significantly. Significant decrease or increase of value will only happen to rare products. Generally, the more quantity of a product that is available the more stable its Bitcoin value will be.
- As the quantity of an item increases the less they will cost to customers, and corporations
Drawbacks
- A database need to be maintained at an almost real time basis in order to adjust the bitcoin values accordingly
- A daily, monthly, or annual inventory report is required from each company in order to assign new bitcoin values to a product, or service.
- Every corporation needs to be accountable for their inventory report
- Certain amount Bitcoins would become inaccessible if they are lost (Solution: Add an algorithm that allows bithashes that are inactive for 3-7 years to be redistributed to miners)
- Bitcoin compatibility needs to added too all registered companies and merchants
Conditional
- All transactions will be hard to trace
Monday 26 May 2014
Resource Based Bitcoin exchange
Using some very basic math and a magic formula, and online reserve information I was able to calculate the bitcoin value for the well known resources in the world today. Below is the assumptions made to make the calculations
|
Assumptions
|
|
|
Area of a tree (km^2)
|
2.51327E-07
|
|
Average mass of a tree (Tonne)
|
0.680580762
|
|
Barrels per ton
|
7.33
|
|
Amount of food (lbs/acre)
|
58200
|
|
Amount of food (ton/KM^2)
|
6523.351417
|
|
Conversions
|
|
|
1 cubic feet
|
0.15899 Barrel
|
|
1 Short Ton
|
0.907185 Ton
|
Below is the BitCoin to resource exchange rate given the global amount available today (You can verify the amount available by looking online).
|
Item Name
|
Amount available
|
Conversions to Tonnes
|
Bit/Ton @ 21000000 Bitcoins
|
Bit/Ton @ 12812825 Bitcoins
|
|
Oil (Billion Barrels)
|
1645.984
|
2.24554E+11
|
4.67207E-05
|
2.85059E-05
|
|
Gas (Trillion Cubic Feet)
|
6809.26
|
1.65454E+14
|
2.49257E-08
|
1.5208E-08
|
|
Coal (Million Short Tons)
|
979791
|
8.88853E+11
|
1.17744E-05
|
7.184E-06
|
|
Aluminium (Tonnes)
|
38000000000
|
38000000000
|
0.000276277
|
0.000168566
|
|
Iron (Tonnes)
|
1.64E+11
|
1.64E+11
|
6.39859E-05
|
3.904E-05
|
|
Copper (Tonnes)
|
850000000
|
850000000
|
0.012352903
|
0.007536932
|
|
Zinc (Tonnes)
|
420000000
|
420000000
|
0.024999961
|
0.01525334
|
|
Lead (Tonnes)
|
130000000
|
130000000
|
0.080769192
|
0.049280073
|
|
Nickel (Tonnes)
|
130000000
|
130000000
|
0.080769192
|
0.049280073
|
|
Molybdenum (Tonnes)
|
17000000
|
17000000
|
0.61764702
|
0.376847771
|
|
Tin (Tonnes)
|
10000000
|
10000000
|
1.049999961
|
0.640641226
|
|
Silver (Tonnes)
|
520000
|
520000
|
20.19230765
|
12.32002401
|
|
Platinum & Palladium (Tonnes)
|
73000
|
73000
|
143.8356164
|
87.75907532
|
|
Gold (Tonnes)
|
82000
|
82000
|
128.0487804
|
78.12698168
|
|
Wood/Forests (KM^2)
|
39000000
|
1.0561E+14
|
6.08865E-08
|
3.71489E-08
|
|
Arable land (KM^2)
|
13962000
|
91079032478
|
0.000115246
|
7.03155E-05
|
Although, the values do not reflect their practical and access values, the Bitcoin value for the resources increases based on how much is left. So if a resource based economy was implemented everyone would have access to the energy resources (Oil, Gas, Coal) at a much lower price then they are currently.
Next, I hope to create a table for the energy, knowledge, and human resources necessary to extract and use the resources listed above and adjust the bitcoin values accordingly.
Sunday 25 May 2014
The Periodic Table of Elements
The Table of Elements to Bitcoin value
Assumptions
Total mass of the earth is 5.98*10^27 grams
Calculations
I assume that the every element is of equal value and they compose the entire planet. I then add the total number of possible elements on each of these pure planets. From there I would calculate a percentage of how much each element would take in the combined planets then I multiply it by 21 million bitcoins and determine their pool value. Then we take the reciprocal to determine the how much an element is worth in bit coins.
Applications
Given E=mc^2 this value will determine how much the element cost (of course this ignore how this energy is tapped and applied in the real world). Combine several elements together and you can barely use it calculate how much a chemical composition, or motherboard will cost in bitcoins. Below is the table.
I doubt the above will have any application as of this moment since we are only able to harness a fraction of E=mc^2. In the next, post a potentially useful table will be present based on the current index values of commodities in circulation today
Assumptions
Total mass of the earth is 5.98*10^27 grams
Calculations
I assume that the every element is of equal value and they compose the entire planet. I then add the total number of possible elements on each of these pure planets. From there I would calculate a percentage of how much each element would take in the combined planets then I multiply it by 21 million bitcoins and determine their pool value. Then we take the reciprocal to determine the how much an element is worth in bit coins.
Applications
Given E=mc^2 this value will determine how much the element cost (of course this ignore how this energy is tapped and applied in the real world). Combine several elements together and you can barely use it calculate how much a chemical composition, or motherboard will cost in bitcoins. Below is the table.
Atomic Mass
|
Name chemical element
|
Total grams per Element
|
Potential Maximum
|
Potential resource Percent
|
Bitcoin/mass with 21 mil (millions)
|
Bitcoin/gram
|
1.0079
|
5.933E+27
|
1.78191E+28
|
0.332964
|
6.992239616
|
0.143016
|
|
4.0026
|
1.494E+27
|
1.78191E+28
|
0.083844
|
1.760725106
|
0.567948
|
|
6.941
|
8.615E+26
|
1.78191E+28
|
0.04835
|
1.015340485
|
0.984891
|
|
9.0122
|
6.635E+26
|
1.78191E+28
|
0.037238
|
0.78199311
|
1.278784
|
|
10.811
|
5.531E+26
|
1.78191E+28
|
0.031042
|
0.651880336
|
1.534024
|
|
12.0107
|
4.979E+26
|
1.78191E+28
|
0.027941
|
0.586766659
|
1.704255
|
|
14.0067
|
4.269E+26
|
1.78191E+28
|
0.02396
|
0.503150514
|
1.987477
|
|
15.9994
|
3.738E+26
|
1.78191E+28
|
0.020975
|
0.440483912
|
2.27023
|
|
18.9984
|
3.148E+26
|
1.78191E+28
|
0.017664
|
0.370951149
|
2.695773
|
|
20.1797
|
2.963E+26
|
1.78191E+28
|
0.01663
|
0.34923603
|
2.863393
|
|
22.9897
|
2.601E+26
|
1.78191E+28
|
0.014598
|
0.306549381
|
3.262117
|
|
24.305
|
2.46E+26
|
1.78191E+28
|
0.013808
|
0.289960021
|
3.448751
|
|
26.9815
|
2.216E+26
|
1.78191E+28
|
0.012438
|
0.261196683
|
3.828533
|
|
28.0855
|
2.129E+26
|
1.78191E+28
|
0.011949
|
0.250929423
|
3.985184
|
|
30.9738
|
1.931E+26
|
1.78191E+28
|
0.010835
|
0.22753031
|
4.395019
|
|
32.065
|
1.865E+26
|
1.78191E+28
|
0.010466
|
0.219787254
|
4.549854
|
|
35.453
|
1.687E+26
|
1.78191E+28
|
0.009466
|
0.198783694
|
5.030594
|
|
39.0983
|
1.529E+26
|
1.78191E+28
|
0.008583
|
0.180250249
|
5.547843
|
|
39.948
|
1.497E+26
|
1.78191E+28
|
0.008401
|
0.176416299
|
5.66841
|
|
40.078
|
1.492E+26
|
1.78191E+28
|
0.008374
|
0.175844062
|
5.686857
|
|
44.9559
|
1.33E+26
|
1.78191E+28
|
0.007465
|
0.156764258
|
6.379005
|
|
47.867
|
1.249E+26
|
1.78191E+28
|
0.007011
|
0.147230416
|
6.792075
|
|
50.9415
|
1.174E+26
|
1.78191E+28
|
0.006588
|
0.138344539
|
7.22833
|
|
51.9961
|
1.15E+26
|
1.78191E+28
|
0.006454
|
0.135538594
|
7.377972
|
|
54.938
|
1.088E+26
|
1.78191E+28
|
0.006109
|
0.128280576
|
7.795412
|
|
55.845
|
1.071E+26
|
1.78191E+28
|
0.006009
|
0.126197123
|
7.924111
|
|
58.6934
|
1.019E+26
|
1.78191E+28
|
0.005718
|
0.120072756
|
8.328284
|
|
58.9332
|
1.015E+26
|
1.78191E+28
|
0.005694
|
0.119584179
|
8.36231
|
|
63.546
|
9.411E+25
|
1.78191E+28
|
0.005281
|
0.110903571
|
9.016842
|
|
65.39
|
9.145E+25
|
1.78191E+28
|
0.005132
|
0.107776087
|
9.278496
|
|
69.723
|
8.577E+25
|
1.78191E+28
|
0.004813
|
0.101078243
|
9.893326
|
|
72.64
|
8.232E+25
|
1.78191E+28
|
0.00462
|
0.09701925
|
10.30723
|
|
74.9216
|
7.982E+25
|
1.78191E+28
|
0.004479
|
0.094064706
|
10.63098
|
|
78.96
|
7.573E+25
|
1.78191E+28
|
0.00425
|
0.089253778
|
11.20401
|
|
79.904
|
7.484E+25
|
1.78191E+28
|
0.0042
|
0.088199318
|
11.33796
|
|
83.8
|
7.136E+25
|
1.78191E+28
|
0.004005
|
0.084098787
|
11.89078
|
|
85.4678
|
6.997E+25
|
1.78191E+28
|
0.003927
|
0.082457701
|
12.12743
|
|
87.62
|
6.825E+25
|
1.78191E+28
|
0.00383
|
0.080432302
|
12.43282
|
|
88.9059
|
6.726E+25
|
1.78191E+28
|
0.003775
|
0.079268961
|
12.61528
|
|
91.224
|
6.555E+25
|
1.78191E+28
|
0.003679
|
0.077254651
|
12.9442
|
|
92.9064
|
6.437E+25
|
1.78191E+28
|
0.003612
|
0.075855682
|
13.18293
|
|
95.94
|
6.233E+25
|
1.78191E+28
|
0.003498
|
0.073457143
|
13.61338
|
|
98
|
6.102E+25
|
1.78191E+28
|
0.003424
|
0.071913044
|
13.90568
|
|
101.07
|
5.917E+25
|
1.78191E+28
|
0.00332
|
0.069728686
|
14.3413
|
|
102.9055
|
5.811E+25
|
1.78191E+28
|
0.003261
|
0.068484953
|
14.60175
|
|
106.42
|
5.619E+25
|
1.78191E+28
|
0.003153
|
0.06622325
|
15.10044
|
|
107.8682
|
5.544E+25
|
1.78191E+28
|
0.003111
|
0.065334161
|
15.30593
|
|
112.411
|
5.32E+25
|
1.78191E+28
|
0.002985
|
0.062693849
|
15.95053
|
|
114.818
|
5.208E+25
|
1.78191E+28
|
0.002923
|
0.06137956
|
16.29207
|
|
118.71
|
5.037E+25
|
1.78191E+28
|
0.002827
|
0.059367183
|
16.84432
|
|
121.76
|
4.911E+25
|
1.78191E+28
|
0.002756
|
0.057880078
|
17.2771
|
|
126.9045
|
4.712E+25
|
1.78191E+28
|
0.002644
|
0.055533715
|
18.00708
|
|
127.6
|
4.687E+25
|
1.78191E+28
|
0.00263
|
0.055231021
|
18.10577
|
|
131.293
|
4.555E+25
|
1.78191E+28
|
0.002556
|
0.053677487
|
18.62978
|
|
132.9055
|
4.499E+25
|
1.78191E+28
|
0.002525
|
0.053026235
|
18.85859
|
|
137.327
|
4.355E+25
|
1.78191E+28
|
0.002444
|
0.051318956
|
19.48598
|
|
138.9055
|
4.305E+25
|
1.78191E+28
|
0.002416
|
0.050735776
|
19.70996
|
|
140.116
|
4.268E+25
|
1.78191E+28
|
0.002395
|
0.050297456
|
19.88172
|
|
140.9077
|
4.244E+25
|
1.78191E+28
|
0.002382
|
0.050014856
|
19.99406
|
|
144.24
|
4.146E+25
|
1.78191E+28
|
0.002327
|
0.048859389
|
20.4669
|
|
145
|
4.124E+25
|
1.78191E+28
|
0.002314
|
0.048603299
|
20.57474
|
|
150.36
|
3.977E+25
|
1.78191E+28
|
0.002232
|
0.046870699
|
21.33529
|
|
151.964
|
3.935E+25
|
1.78191E+28
|
0.002208
|
0.046375973
|
21.56289
|
|
157.25
|
3.803E+25
|
1.78191E+28
|
0.002134
|
0.044817032
|
22.31295
|
|
158.9253
|
3.763E+25
|
1.78191E+28
|
0.002112
|
0.044344597
|
22.55066
|
|
162.5
|
3.68E+25
|
1.78191E+28
|
0.002065
|
0.043369097
|
23.05789
|
|
164.9303
|
3.626E+25
|
1.78191E+28
|
0.002035
|
0.04273004
|
23.40274
|
|
167.259
|
3.575E+25
|
1.78191E+28
|
0.002006
|
0.042135122
|
23.73317
|
|
168.9342
|
3.54E+25
|
1.78191E+28
|
0.001987
|
0.041717298
|
23.97087
|
|
173.04
|
3.456E+25
|
1.78191E+28
|
0.001939
|
0.040727452
|
24.55346
|
|
174.967
|
3.418E+25
|
1.78191E+28
|
0.001918
|
0.0402789
|
24.82689
|
|
178.49
|
3.35E+25
|
1.78191E+28
|
0.00188
|
0.039483883
|
25.32679
|
|
180.9479
|
3.305E+25
|
1.78191E+28
|
0.001855
|
0.038947555
|
25.67555
|
|
183.84
|
3.253E+25
|
1.78191E+28
|
0.001825
|
0.038334847
|
26.08593
|
|
186.207
|
3.211E+25
|
1.78191E+28
|
0.001802
|
0.037847548
|
26.42179
|
|
190.23
|
3.144E+25
|
1.78191E+28
|
0.001764
|
0.037047145
|
26.99263
|
|
192.217
|
3.111E+25
|
1.78191E+28
|
0.001746
|
0.036664178
|
27.27458
|
|
195.078
|
3.065E+25
|
1.78191E+28
|
0.00172
|
0.036126464
|
27.68054
|
|
196.9665
|
3.036E+25
|
1.78191E+28
|
0.001704
|
0.035780086
|
27.94851
|
|
200.59
|
2.981E+25
|
1.78191E+28
|
0.001673
|
0.035133747
|
28.46266
|
|
204.3833
|
2.926E+25
|
1.78191E+28
|
0.001642
|
0.034481674
|
29.00091
|
|
207.2
|
2.886E+25
|
1.78191E+28
|
0.00162
|
0.034012926
|
29.40059
|
|
208.9804
|
2.862E+25
|
1.78191E+28
|
0.001606
|
0.033723154
|
29.65322
|
|
209
|
2.861E+25
|
1.78191E+28
|
0.001606
|
0.033719992
|
29.656
|
|
210
|
2.848E+25
|
1.78191E+28
|
0.001598
|
0.033559421
|
29.79789
|
|
222
|
2.694E+25
|
1.78191E+28
|
0.001512
|
0.031745398
|
31.50063
|
|
223
|
2.682E+25
|
1.78191E+28
|
0.001505
|
0.031603042
|
31.64252
|
|
226
|
2.646E+25
|
1.78191E+28
|
0.001485
|
0.031183532
|
32.06821
|
|
227
|
2.634E+25
|
1.78191E+28
|
0.001478
|
0.03104616
|
32.2101
|
|
231.0359
|
2.588E+25
|
1.78191E+28
|
0.001453
|
0.030503823
|
32.78278
|
|
232.0381
|
2.577E+25
|
1.78191E+28
|
0.001446
|
0.030372074
|
32.92498
|
|
237
|
2.523E+25
|
1.78191E+28
|
0.001416
|
0.029736195
|
33.62905
|
|
238.0289
|
2.512E+25
|
1.78191E+28
|
0.00141
|
0.029607658
|
33.77505
|
|
243
|
2.461E+25
|
1.78191E+28
|
0.001381
|
0.029001968
|
34.48042
|
|
244
|
2.451E+25
|
1.78191E+28
|
0.001375
|
0.028883108
|
34.62231
|
|
247
|
2.421E+25
|
1.78191E+28
|
0.001359
|
0.028532301
|
35.048
|
|
247
|
2.421E+25
|
1.78191E+28
|
0.001359
|
0.028532301
|
35.048
|
|
251
|
2.382E+25
|
1.78191E+28
|
0.001337
|
0.028077603
|
35.61558
|
|
252
|
2.373E+25
|
1.78191E+28
|
0.001332
|
0.027966184
|
35.75747
|
|
257
|
2.327E+25
|
1.78191E+28
|
0.001306
|
0.027422095
|
36.46694
|
|
258
|
2.318E+25
|
1.78191E+28
|
0.001301
|
0.027315807
|
36.60884
|
|
259
|
2.309E+25
|
1.78191E+28
|
0.001296
|
0.027210341
|
36.75073
|
|
261
|
2.291E+25
|
1.78191E+28
|
0.001286
|
0.027001833
|
37.03452
|
|
262
|
2.282E+25
|
1.78191E+28
|
0.001281
|
0.026898772
|
37.17642
|
|
262
|
2.282E+25
|
1.78191E+28
|
0.001281
|
0.026898772
|
37.17642
|
|
264
|
2.265E+25
|
1.78191E+28
|
0.001271
|
0.026694994
|
37.46021
|
|
266
|
2.248E+25
|
1.78191E+28
|
0.001262
|
0.026494279
|
37.744
|
|
268
|
2.231E+25
|
1.78191E+28
|
0.001252
|
0.026296561
|
38.02779
|
|
272
|
2.199E+25
|
1.78191E+28
|
0.001234
|
0.025909847
|
38.59537
|
|
277
|
2.159E+25
|
1.78191E+28
|
0.001212
|
0.02544216
|
39.30484
|
|
261.9
|
2.283E+25
|
1.78191E+28
|
0.001281
|
0.026909043
|
37.16223
|
|
276.8
|
2.16E+25
|
1.78191E+28
|
0.001212
|
0.025460543
|
39.27646
|
|
286
|
2.091E+25
|
1.78191E+28
|
0.001173
|
0.024641533
|
40.58189
|
|
289
|
2.069E+25
|
1.78191E+28
|
0.001161
|
0.024385738
|
41.00758
|
|
288
|
2.076E+25
|
1.78191E+28
|
0.001165
|
0.024470411
|
40.86568
|
|
292
|
2.048E+25
|
1.78191E+28
|
0.001149
|
0.0241352
|
41.43326
|
|
294
|
2.034E+25
|
1.78191E+28
|
0.001141
|
0.023971015
|
41.71705
|
|
294
|
2.034E+25
|
1.78191E+28
|
0.001141
|
0.023971015
|
41.71705
|