Where can we read about Economy 3.0. ?
Thanks for your thoughts. Tell us more about the experiments you want to conduct and what you want to find out.
How do you want to add it to your accountimg system? Do you want the transactions to be reported? There is a website that helps people with accounting. I will look it up and let you know.
How would you like to build out your business with it?
In Economics there us an equation
MV = P Y
That M is the money supply. Lets say 100 million sats. The V is the velocity of money. How many transactions in a year. How many times the sats change hands. Say 20 times a year.
The P is the price of the goods. Say 250.000 sats.
The Y is the production. How big is the economy.
So in tge case above witha 100 million sats liquidity in sll the nodes your economy eould be 2 billion sats.
If the velocity goes up to 200 times the economy is 20 billion sats big.
And if you divide that by the average price of 250.000 you get the value addef that can be channeled through that economy.
Once you have the value added you know that that is the total sum of the wages, the profits, the rents in that economy. So the payments for the different production factors of that economy.
I know that currently especially small island businesses, organizations and employees are limited to their own islands.
They cannot participate in the global economy or they can but at a high fee.
Basically the fiat banks and payment providers extract a big chunk of the M, the monetary base in the form of transaction costs.
If lightning can solve this at a lower cost it would help. People would create value and serve the lives of others.
I would love to see how this would work.
But not only for islands. For people everywhere.
I see a world where the M is 21 million bitcoin times 100 million sats.
That is the global M.
Probably that M will not completely have high velocity. But even if 5 million btc is in the lightning ecosystem than that would be the M.
How much btc is currently hold on in the lightning ecosystem?
This M we should be able to calculate how the velocity is. I can dive into that.
And then we know the left side of the equation.
If we know what the average prices are we know the Y.
It would be the Bitcoin Gross Domestic Product!!!
Others can experiment with this.
What do you think?
Wow the reply button / text is VERY small. Took me almost 60 seconds to locate it. :)
Also I didn't get any notification of your reply via e-mail, I just happened to see my bell icon had an indicator.
Anyway... the short answer (you sent a very long reply and I appreciate it, I'm only replying to a small part of it)
I would like to be able to treat BTC/SATS the same as fiat. Handled for accounting/finance reporting/general reporting/taxes etc. Compliance. Treasury desk operations. All using self hosted/self sovereign software/systems (dolibar/erpnext/firefly).
reply