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lelandbatey  ·  4375 days ago  ·  link  ·    ·  parent  ·  post: The two constants, or, why money has value

This is a really interesting post, as it's a perspective that I'd never considered before. This does make one wonder how currencies develop without the backup of a large organization to collectively make it in everyone's best interest to use it.

For example, how have Bitcoins not flattened out? Why is there such a huge market for virtual hats in Team Fortress 2? What about gold farming and WoW? I assume that it has to do with the rather free-wheeling nature of the unregulated micro-economies involved, but I'd love to know if I'm correct about that, as well as any additional details.