Gresham's law

[Miguel Morin]

Hi Stan,

Two further thoughts on Settle that I had today:

- economics has a principle of Gresham's law, where the bad money drives out the good. It applies when tokens have the same face value and different intrinsic value. I'm not sure how it would apply in the case of Settle because the discounts give money a different face value.

- to think more about this, I would talk to a monetary economist. I know a very good one from Cambridge who works on crypto-currencies and once gave a fantastic talk on bitcoin.

Regards,

Miguel Morin

Gresham's law: https://www.britannica.com/topic/Greshams-law

[Stanislas Polu]

Very interesting! If you think he might be interested in the concepts
proposed by the project, I'd love to start a discussion with him!

On my end I met with Ashish Goel And Pranav Dandekar who wrote
https://arxiv.org/abs/1007.0515

They were quite excited by the user interface. One thing I realized
with them is that successful credit networks will probably be
centrally operated (Tesla Network, B2C IOU between friends and family,
Store credits system), but the mint protocol can serve as a federated
way to exchange across these rather centrally managed networks.

-stan

[Miguel Morin]

Great, I emailed him and will keep you posted.

By the way, this address:

https://m.settle.network

was down several times last week and now shows the connection as not secure (attached).

Miguel

[Stanislas Polu]

The m.settle.network address is reserved for the mint protocol, but I should probably redirect if you're attempting to open it from a browser indeed.

-stan