Exodia38 on Nostr: I see it in this way, through 3 concepts (that I made myself, be cautious): 1. Mana ...
I see it in this way, through 3 concepts (that I made myself, be cautious):
1. Mana value is the utility of certain tool to satisfy a necessity you have (Eg: a car can cost you 0 btc, but that doesn't mean it isn't useful to transport you to somewhere). It doesn't have a specific unit to measure it. Sometimes I call it technological value.
2. Monetary value is the slice of the global mana value that is represented by certain amount of money. For example 1 btc = worldtotalmanavalue/21000000, 0.5 btc = worldtotalmanavalue/42M, etc
3. Chronological cost treats the same phenomenon than monetary value but from a different point of view. It measures the difficulty of obtaining certain tool or item (the typical way of measuring this is through work hours but you can also use monetary units).
In the case of certain software, I could say that it has a lot of mana value if it's useful for someone in the real world. If people replicate it and keeps being needed, you could say the mana value has doubled. If this specific software is replicated a lot (which is common), the chronological cost of it will tend to zero pretty quickly. It will be dead easy for me to obtain it.
However, if I sum all the softwares in the world, that will give a pretty big monetary value because they provide a lot of utility today
The things I described are not 100% exact because the industries and markets don't behave linearly
1. Mana value is the utility of certain tool to satisfy a necessity you have (Eg: a car can cost you 0 btc, but that doesn't mean it isn't useful to transport you to somewhere). It doesn't have a specific unit to measure it. Sometimes I call it technological value.
2. Monetary value is the slice of the global mana value that is represented by certain amount of money. For example 1 btc = worldtotalmanavalue/21000000, 0.5 btc = worldtotalmanavalue/42M, etc
3. Chronological cost treats the same phenomenon than monetary value but from a different point of view. It measures the difficulty of obtaining certain tool or item (the typical way of measuring this is through work hours but you can also use monetary units).
In the case of certain software, I could say that it has a lot of mana value if it's useful for someone in the real world. If people replicate it and keeps being needed, you could say the mana value has doubled. If this specific software is replicated a lot (which is common), the chronological cost of it will tend to zero pretty quickly. It will be dead easy for me to obtain it.
However, if I sum all the softwares in the world, that will give a pretty big monetary value because they provide a lot of utility today
The things I described are not 100% exact because the industries and markets don't behave linearly