You are reading Economic Forces, a free weekly newsletter on economics, especially price theory, without the politics. You can support our newsletter by signing up here: The efficient markets hypothesis is often synonymous with the phrase, “prices reflect all available information.” This sounds really smart, right?
Prices as hash output - that's brilliant and makes perfect sense to me as one familiar with cryptography. I'll try it out on some others who are not so familiar with cryptography and see how it goes.
Hash outputs aren't unique because the hash is generally smaller than the input (probably not true for passwords but hashing preceded those). It is definitely possible for two passwords to produce the same hash value but the important fact is that it is very, very difficult to determine a valid password from the hash.