The cognitive limits to very small payments: http://szabo.best.vwh.net/micropayments.html … http://szabo.best.vwh.net/berlinmentalmicro.pdf …
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@NickSzabo4 Great, but it would be nice if you could define the "limit" in dollars and cents -- I asked you that before.
@znakit Some kinds of value easier to measure than others. e.g. fungible like gasoline & phone minutes easier than non-fungible like clicks.
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@NickSzabo4 @znakit Transacting costs time, thinking about value costs time, thinking about risk costs time. Time is money. Limit is time. -
@aleksj@NickSzabo4 I agree, but to make any transaction practical and "below" its mental cost, one has to know that cost. What is it? -
@znakit
@NickSzabo4 Mental cost depends on the mind in question and on the opportunity cost for that mind. -
@aleksj@NickSzabo4 So why should we rule out ALL small payments as "mentally too costly" if the cost depends and we cannot determine it?
End of conversation
New conversation -
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@NickSzabo4 Yes, but people are using your "intuitive theory" to rule out ANY micropayment or small payments as mentally too costly 1/2Thanks. Twitter will use this to make your timeline better. UndoUndo
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@NickSzabo4 However, to say a microtransaction is above the mental cost to make it needs a specific value. Or, the theory is meaningless.Thanks. Twitter will use this to make your timeline better. UndoUndo
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