Really dramatic steps like this could be disastrous, but in general I'm concerned about how the banking system creates money. https://twitter.com/MrsEmpressWife/status/1037742447466565633 …
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Crypto has been on that problem for a while. Good summary here: https://queue.acm.org/detail.cfm?id=3136559 … ...
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... See especially the evolution from Hashcash to Bitcoin.
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I'm not seeing how proof of work (or any of the rest) creates an asset of value
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You're seeing it in the world. How many years of non-zero value before you accept there's something there?
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15 more years
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is that a bet?
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I guess at that point I may admit I was wrong if crypto retains value.
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I don't think POW gives Bitcoin "value" (weird variation on LTV?). Rather, work done is determined by Bitcoin's value. POW is simply a method for securing the ledger/token scarcity. If fiat relies of anti-counterfeiting tech & sovereign violence, Bitcoin has cryptography & POW.
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