When I first started yelling at people about this five years ago they told me Ethereum was halfway there to displacing proof-of-work with proof-of-stake ("halfway" because of the fork with Ethereum Classic) Since then, they've gone from halfway to zerohttps://twitter.com/beakfriends/status/1366193100226461698?s=20 …
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But then they get to step 2: ??? that comes before Step 3: Profit! Why would anyone trade actual US currency (or groceries, or a lease on an apartment, or whatever) for those tokens Who gets the ball rolling on somehow making these things valuable That's a *social* problem
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And it's one that really obviously doesn't have a solution Especially when you've got hundreds of these things competing all tied to different apps that are all saying they have value
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I don't think gridcoin ever had a built-in limit, though. Part of the reason weird libertarians like bitcoin is because of the fact that it will eventually reach a cap. Gridcoin could theoretically be granted as long as orgs put money in the project's "central bank".
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Gridcoin gave power to a "Federal Reserve" based on which projects BOINC approved and which ones it didn't and yeah that was always going to be a problem Both for the grifters and for the wackjob ancaps It undermines their whole ideal of a trustless society
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