New blog post: Micropayments and Cognitive Costs. http://hackingdistributed.com/2014/12/31/costs-of-micropayments/ … /cc @NickSzabo4 @zmanian @adam3us
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@el33th4xor@NickSzabo4@adam3us Problem is Szabo has never defined micropayment or his limit on price granularity https://www.baekdal.com/opinion/a-case-for-micropayments …
@znakit @el33th4xor @adam3us The def. when I wrote article did not include normal range of prices -- micro were special lower range.
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@znakit
@el33th4xor@adam3us "Micro" means 1/1000, as in 1/1000th of a dollar. -
@znakit
@el33th4xor@adam3us My basic thesis is that people won't pay finer granalority online than offline. -
@znakit
@el33th4xor@adam3us Also people will tolerate much less granularity for non-fungible (e.g. content) than fungible (phone minutes). - 1 more reply
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