New Russian Chronicles
Surviving monotaxocausofilia

The music of chance

I don’t know if you know about bitcoins. Let me summarize in three bullet points.

– It’s a decentraliced currency created through a clever cryptography algorhytm, that is created (more or less) at the same rate always (so no human intervention to increase or decrease the monetary mass in circulation). The advantages toted by its defenders are that it’s anonymous, free and not controlled by a government or central bank.

– It’s an extremely bad idea if you know anything about economics. This is one argument, but there are more. Oh, and it’s been seriously badly implemented.

3. As if bullet point 2 wasn’t enough, it’s become the realm of scammers, Ron Paul libertarians, child pornographers, arms dealers… the works.

So why do I mention bitcoins?

Well… an anonymous hand wrote something on a wall I saw once, and I feel it’s relevant. Not only to today’s discussion, but to today’s world.

The only beautiful thing coming out of a corrupt society are it’s debris.

I like the concept and the idea. And that’s what I have found, I believe. Look:
Music. Music made from bitcoins.

Someone has this program that keeps track of bitcoin transactions (all transactions are known by anyone in the network) and assigned musical notes to each. The larger the transaction, the lower the pitch.

And let me tell you, I am mesmerized. This shit is beautiful.

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2 comentarios to “The music of chance”

  1. As you rightly put it, once you get past the shiny techno-coolness factor Bitcoin totally sucks as a currency and is designed to fail spectacularly if its user base ever extends beyond the fringe. It also completely misses the political point of complementary currencies: people seem to use it more as a speculative commodity, or at best as a refuge to store value because they mistrust “national” currencies… but they simply run into the arms of another Wizard of Oz, without ever giving a thought to the emancipating and transformative potential of CCs.

    Bitcoin does make for a neat musical trick though. 😉

    Of greater interest perhaps is another project called Ripple, purportedly also started by “Satoshi Nakamoto”. For some reason which eludes me Ripple also created their own poorly designed, fixed-and-finite supply currency and they’re idiots for doing so if you ask me. But it’s first and foremost a frictionless payment system usable with *any* kind of currency, including CCs, and it implements a trust-based IOU system which is perfectible but definitely points in the right direction.

  2. Oh really? I am going to check Ripple tomorrow, then. 🙂

    I really don’t get the point of fixed currency supply. Golden cyberfetters indeed.


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