The Economic Definitions Series

The Definition of Money is an easy to read and understand book, yet packed with information, explaining everything about the mechanics of Money. It is the first volume in a trilogy called "The Economic Definitions", and it looks at money through a lens of logic, concepts and history; though it's not a historical work.   Together with its companion books "The Definitions of Value" and "Ethereal Value and the Cryptofuture", it is the first work that takes a comprehensive look at what money is and what money does, in every situation. It looks deeply into human behavior, and the common actions that arrive from it as humans move about within reality, in order to establish fundamental reasons for how every human in every culture sees and thinks about money, as well as what ends up being used as money in those cultures.   It looks at the current monetary system and exposes the flaws within, showing that much of our modern societal ails arise directly from the distortion of what money is and what function it serves within society, by the needs of central authorities. The books explain this through using simple analogies, logic, abstraction, and sometimes even strong language, to show that much of the modern complexity of finance is self-induced, and economics really need not be so difficult – the books contain very little (basic) math to prove the point.   They are written for the common man as much as for veteran economists, as none of the concepts in the book are difficult to understand in the end – and the trilogy was even designed to be re-read for those who need a little bit longer – but they go as deep as humanly possible regardless. Every pass around will reveal new insights.   This book also takes a deep look at what inflation is and does, as it is an integral part of money. It'll show that both inflation and deflation are normal and healthy, yet they have been made appear to be hostile by, again, central authorities who focus more on their own needs for survival rather than that of the populace – leading to inevitable hyperinflation of a broken global monetary system.   All aspects of money are examined, bar one: Intrinsic value. While Money and Value are intrinsically linked, Value is its own distinct concept with its own rules and descriptions. Confusing how the two interact has been a problem throughout history, and therefore it has its own book with its own explanation of how it arises out of human nature; and is instead referred to when needbe within this book.   Finally, the book looks at the future of money, both the extension of modern-day digital technology and what it might be beyond currency. It'll describe two systems that might be used in a time where the 4th industrial revolution has become a reality, and there isn't a need for currency anymore, at least not in its traditional shape or form. One of these concepts, "The Streaming Economy" (unrelated to video streaming), is then later used in the third book to bring about a futuristic currency – one that could power a Star Trek like future – today.

The Definition of Value is the second volume in "The Economic Definitions" trilogy (together with "The Definition of Money" and "Ethereal Value and the Cryptofuture"), and deals definitively with all concepts of what Value is and how it arises from fundamental concepts shared between all humans. It goes through previous definitions of value such as Labor and Scarcity, and exposes the shortcomings within. It shows that, even though each previous definition still holds value in and of itself, each previous definition was replaced by the next through a greater need for accuracy in measuring and calculating value. Within its own domain, each definition still applies and will always apply, but as technology moves ever forward, ever deeper examinations of value are needed.   The book adds my own definition of value into the mix, just as it describes the value at the basis of all other values, and how it all arises from simple human nature. It teaches methods for thinking of value in this way, using simple yet advanced logic, that'll allow a more accurate assessment of asset values through time, even before events have happened. Yet, that only applies to Intrinsic value, the value assets hold of themselves.   The book also describes Perceived value and how it comes to be. It describes what happens when expectations of value become completely decoupled from any underlying intrinsic value, and "a bubble" forms in an asset. It describes how these bubbles form and the progression of these bubbles through society, as these moments in history always show a similar pattern – arising from shared values between people. Where money is based on fundamental rules, Value is more psychological – yet it is still 100% based on fundamental reasons.   Through these fundamental reasons and concepts, I describe a new concept called Value Transference, which will turn out to be one of the major discoveries in economics in this century. The idea that value is transferred between objects if one object is destroyed and the other is generated will come to dominate finance in the coming years, and is even used in the third book in the trilogy to create the first true digital sound money system.   Though another new concept, Virtual Labor, shows that similar systems already exist today in the medium of Videogames. The book will show the limits of Intrinsic Value in the digital realm, and lays the groundwork for the knowledge in the third book, which fixes these issues. And hopefully, a lot of society's ails along the way.

Ethereal Value and the Cryptofuture is the final book in "The Economic Definitions" trilogy, after "The Definition of Money" and "The Definitions of Value"; which are required reading to fully understand this book. As it stands, traditional measurements of value have trouble dealing with describing value in the information realm. Yet we still value some digital things. Where does that value come from? And what is it based on? Those are the values I've dubbed Ethereal Values; values that don't exist within reality in any way, shape or form, but nonetheless do exist. Using this newfound knowledge, I reveal the first quantifiable ethereal value, meaning the very first value that we all commonly share as a species, put into numbers. A value that, because we all share it deeply, has a universal value to us, and therefore can serve as a backing for the first true completely digital sound money system.   Cryptocurrency is used to do it, hence the second part of the title. Yet I also use a chapter in my book to explain exactly what is wrong with first generation cryptocurrency. But rather than do away with "Proof-of-work", the labor performed by the computers is redirected, intertwining two systems together in order to justify the value of the work performed, thereby inventing Proof-of-work 2.0: "Proof-of-Value", as the work done to verify the network is value-justified.   With this, it becomes possible for a cryptocurrency like Bitcoin to scale in speed, security AND decentralization at the same time. It is considered the holy grail of crypto, and this system achieves it. But it goes beyond this. It takes into account economic realities, and bases the size of its money stock directly on economic activity automatically. The larger the economy grows, the larger the money stock grows. If the economy shrinks, the money stock shrinks. Through this system, Inflation and Deflation become solved.   Ultimately, using the properties inherent to the base network, an interconnected 2nd layer system is created which invents and allows for Trustless Central Nodes, through yet another new concept called Distributed Functionality; allowing anybody with a spare computer to set up a trusted central processing node, and grow big enough to challenge VISA and PayPal in the end. The system scales profitably, while using the base network for forced trustless mathematical audits to ensure trustless operation.   Yet, it's still not an exact set way of doing things. I offer an economic framework within which multiple ways of doing things can co-exist. It uses Bitcoin and other open source software as a base, specifically so many existing cryptocurrency could adjust their system to the knowledge found in this book.   As long as one adheres to the rules laid out in the books, anyone with programming skills could set up a currency that CAN compete with Gold, Fiat, or ANY OTHER SYSTEM to become the next global reserve currency! It is superior money, even to gold, that could even power The Federation of Planets! Even if one wishes to stay out of the future power struggle altogether, this book will still allow one gain a much deeper understanding of how value should apply to cryptocurrency and virtual assets in general. If nothing else, it's the end to a fascinating character study of humanity, ending in describing the very core of all problems in western society today.