New blog post: Micropayments and Cognitive Costs. http://hackingdistributed.com/2014/12/31/costs-of-micropayments/ … /cc @NickSzabo4 @zmanian @adam3us
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@znakit
@el33th4xor@adam3us "Micro" means 1/1000, as in 1/1000th of a dollar.
@znakit @el33th4xor @adam3us Since then micropayments enthusiasts redefined the term to include normal prices, confusing the issue.
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@NickSzabo4@el33th4xor@adam3us Confused are people like Shirky who wrongly applied the theory to any small online transaction.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@NickSzabo4@el33th4xor@adam3us Then they tried to prove that 5/10c is below the mental cost and therefore micropeyments won't ever work.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@NickSzabo4@el33th4xor@adam3us Your theory's sound, Sir So is Thaler's -- but there is no data showing that even 1c is below the MTC.Thanks. Twitter will use this to make your timeline better. UndoUndo
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