OHM What Is Ohm and Why Should I Care? A Primer on Ohm and the Acts of Kindness (AoK) Platform
Introduction What is the meaning of value? What gives a currency its value, or anything for that matter? Is it a matter of necessity or perception? What if it’s both? Why does digital scarcity generate any tangible value with nothing more than supply and demand?
master Ohm is something very different than other cryptocurrencies. The main objective of Ohm is to create positive change in the world by seeking out and rewarding real-world acts of kindness using the technological platform of a versatile cryptocurrency as the foundation. Using the supply and demand model utilized by other cryptocurrencies, we intend to create a currency with a value associated to it not by digital scarcity, but driven by the need for acts of kindness and the desire to fulfill them.
The value of Ohm is not just determined based on supply and demand like other currencies, both crypto and fiat alike, but is determined based on the value of an act of kindness, which for some, that act could be perceived as necessity. An elderly woman who doesn’t have the strength to carry her groceries to the door has a need for assistance, whether it’s out of kindness or incentivized with a reward, and she would be willing to reward someone for their assistance. There are two ways to look at how this woman will meet her need; she can offer a monetary reward in advance or she can hope someone offers their help for free. In either case, whether someone helps because of the money being offered up front or because they feel compelled to do it out of kindness, the end result is the same - the elderly woman had her need met. The person providing the assistance did so out of kindness and perceived the value of the act of helping without the need for reward, or they did so because their perceived value of the act was in the monetary reward. This balance of “service-to-self” and “service-to-others” represents the two different types of mindsets that hold true for everyone. Some people are motivated by how they feel rewarded by helping others, including acts of kindness, and others are motivated by self-gain, and we see this all the time within the pillars of humanity, in finance, law, medicine, technology, and politics. We have learned that money in its current form is also used as a tool for manipulation and provides a path to corruption. Ohm has a goal of changing the world and changing how currency is valued. <<<<<<< HEAD
Ohm is something very different than other cryptocurrencies. The objectives of Ohm are aimed toward changing the world with positive, real-world acts of kindness while recognizing and rewarding those acts using a versatile cryptocurrency as the foundation for a technology platform designed to support those objectives. Using the supply and demand model for other cryptocurrencies, we intend to create a currency with a value associated to it not by digital scarcity, but driven by the need for acts of kindness and desire to fulfill them.
The value of Ohm is not just determined based on supply and demand like other currencies, both crypto and fiat alike, but is determined based on the value of an act of kindness, which for some, that act could be perceived as necessity. An elderly woman who doesn’t have the strength to carry her groceries to the door, has a need for assistance, whether it’s out of kindness or incentivized with a reward, she would be willing to reward someone for their assistance. There are two ways to look at how this woman will meet her need - she can offer a monetary reward in advance, or she can hope that someone offers their help for free. In either case, whether someone helps because of the money being offered up front or because they feel compelled to do it out of kindness, the end result is the same - the elderly woman had her need met, and the person doing it did so out of kindness and perceived the value of the act of helping without the need for reward, or they did so because their perceived value of the act was in the monetary reward. This represents two different types of mindsets that hold true for everyone - “service-to-self” and “service-to-others”. Some people are motivated by how they feel rewarded by helping others, including acts of kindness, and others are motivated for self gain, and we see this all the time within the pillars of humanity, in finance, law, medicine, technology, politics. We have learned that money in its current form is also used as a tool for manipulation and provides a path to corruption. Ohm has a goal of changing the world, and changing how currency is valued.
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Without turning the discussion into one of economics, we will touch on the diamond-water paradox and why this is important to Ohm. We will use a reference from Adam Smith:
“What are the rules which men naturally observe in exchanging goods for money or for one another, I shall now proceed to examine. These rules determine what may be called the relative or exchangeable value of goods. The word VALUE, it is to be observed, has two different meanings, and sometimes expresses the utility of some particular object, and sometimes the power of purchasing other goods which the possession of that object conveys. The one may be called "value in use;" the other, "value in exchange." The things which have the greatest value in use have frequently little or no value in exchange; on the contrary, those which have the greatest value in exchange have frequently little or no value in use. Nothing is more useful than water: but it will purchase scarcely anything; scarcely anything can be had in exchange for it. A diamond, on the contrary, has scarcely any use-value; but a very great quantity of other goods may frequently be had in exchange for it.”
Smith goes on to say:
“The real price of every thing, what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.” <<<<<<< HEAD <<<<<<< HEAD
master
Smith believed that value was really associated to the effort needed to acquire something. His theory was more recently replaced by the marginal utility theory, which states that the marginal utility of a good is derived from its most important use to a person, so if someone possesses those goods, then they will use them to satisfy some need or want, with necessity taking priority over desire. The marginal utility of a good is derived from its most important use to a person. Naturally, the one that takes highest priority to someone at the time is chosen. It basically means that if I have 1 diamond and 1 glass of water and I’m not dying of thirst, then I will part with the water before the diamond because I have the ability to acquire more water, but not more diamonds. The scarcity of diamonds and the supply and demand model drives up the value of diamonds. If water and diamonds were equally ubiquitous and the value was perceived equal, one would find the “value in use” significantly greater for the water.
Ohm intends to create a platform built on a currency that has both value in use, and value in exchange, as though the diamonds were made out of water. A currency that can be used in exchange for things needed and wanted as with any other currency, while also being used to drive actionable positive change in the world through acts of kindness, whic is something that every human being needs. The value of a currency, especially a cryptocurrency, should not rest solely on its digital scarcity. <<<<<<< HEAD
Smith believed that value was really associated to effort needed to acquire something. His theory was more recently replaced by the marginal utility theory, which says that the marginal utility of a good is derived from its most important use to a person, so if someone possesses those goods, they will use them to satisfy some need or want, with necessity taking priority over desire. The marginal utility of a good is derived from its most important use to a person. Naturally, the one that takes highest-priority to someone at the time is chosen. It basically means, that if I have 1 diamond and 1 glass of water, but I’m not dying of thirst, I’m going to part with the water before the diamond because I have the ability to acquire more water, but not more diamonds. The scarcity of diamonds and the supply and demand model then drive the value of diamonds up. If water and diamonds were equally ubiquitous and the value was perceived equal, one would find the “value in use” significantly greater for the water.
What Ohm intends to do is create a platform built on a currency that has both value in use, and value in exchange, as though the diamonds are made out of water. A currency that can be used in exchange for things needed and wanted as with any other currency, while also being used to drive actionable positive change in the world through acts of kindness, something that every human being needs. The value of a currency, especially a cryptocurrency, should not rest solely on its digital scarcity.
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