Time betting is a difficut math

Here John Cochrane touches on the point I have made.  Betting time in the smart layer is a good idea, but a difficult math because you are going from odds making to betting on the time between significant bets.

Our mortgage system is based on a rather crazy product, the fixed rate mortgage with a costly option to refinance. No other country does this. I know a lot of finance professors, and none of them can tell you the optimal refinancing rule. (It takes a statistical model of the term structure of interest rates and a complicated numerically solved dynamic program.) A lot of the system seems to be price discrimination by pointless complexity, a disease that permeates contemporary America.

We solved this in the sandbox.  Pure cash is timeless, strictly an odds making machine.  All of mass, time and distance handled in the smart layer.