Firstly, the numbers: our total STEEM value is currently about 1400 STEEM, including 235 STEEM within Steem Engine and a total of 15203 tokens in play. This gives ONECENT an ABV of about 9.2 cents, a small increase from yesterday.
The Game of Chicken is best summarised by the philosopher Bertrand Russell, as quoted by Wikipedia:
It is played by choosing a long straight road with a white line down the middle and starting two very fast cars towards each other from opposite ends. Each car is expected to keep the wheels on one side of the white line. As they approach each other, mutual destruction becomes more and more imminent. If one of them swerves from the white line before the other, the other, as they pass, shouts 'Chicken!', and the one who has swerved becomes an object of contempt.
Thus, nobody really wins or loses anything material, yet humans will sometimes place pride above profits. "Take the small loss, take it now!"
The game, can, however, be catastrophic if nobody backs down, as shown in the "chikie run" scene in the film Rebel Without a Cause. Russell's quote carries on by illustrating how such brinkmanship by the nuclear powers would lead to global annihilation. In reality, both sides kept posturing in the nuclear stand-off and none, as yet, has unleashed an unwinnable game.
In biological ecosystems, the game is more commonly known as Hawk-Dove, where two parties seek to gain a scarce resource, usually food. Rarely do outright fights break out as the posturing and threats are often enough to establish a winner. If the cost of fighting is lower than the value of the prize, then the game morphs into a Prisoner's Dilemma.
But in Chicken, and Hawk-Dove, the situation is unstable as there are two Nash equilibrium points. In the ONECENT trading game, every transaction involves two parties and there is not just one conclusive action, rather many small cumulative decisions. Holding on as the ABV slowly rises both increases profits and reduces any losses, but time becomes an issue. How long will you wait before swerving?
I shall talk about time next time.
A reminder that the MAPR token was launched yesterday! I know some of you also delegate to MAPR.
Now, to some prizes!
Although ONECENT is not in any way an upvote service, it struck me as a nice addition to the game to give some random upvotes. I shall give one 10% vote per day to a random account that appears on the first page of the transactions list on the Steem Engine Block Explorer.
That random player will also be added to our automatic-voter. The upvotes won't be so high as to make them significant compared to the ONECENT token price.
So, our winner today is... @bluerobo!
Congratulations!
I hope you find the game interesting. Please post any qustions or, better still, if you write any articles on the ONECENT experience, feel free to post a link in a comment.
Till tomorrow!
image:wikimedia
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@rycharde manages the MAP Rewarder high income program and MAPX Token.
ONECENT: The First Strategic Token Investment Game (STIG)