1/ Emin again with the BS that PoW’s role is merely a “Sybil-controlled mechanism”. (And therefore PoS is a reasonable drop-in replacement.) It’s the classic mistake domain experts make when analyzing systems purely from their Point-of-View.https://twitter.com/el33th4xor/status/1046042561067003904 …
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11/ *Note: Unforgeable costliness is *not* the same thing as the labor theory of value:https://twitter.com/hugohanoi/status/1046105642870681600?s=21 …
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12/ Note #2: don’t confuse the *creation* of value with the *transfer* of valuehttps://twitter.com/hugohanoi/status/1046125820161323008?s=21 …
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@threadreaderapp unroll please. -
Hallo there is your unroll: https://threadreaderapp.com/thread/1046101870840868865.html … Share this if you think it's interesting.
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@threadreaderapp unroll pleaseThanks. Twitter will use this to make your timeline better. UndoUndo
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PoS requires value to be parked, therefore not partaking in the medium of exchange. Which is a very important aspect of a currency. So the more that's parked, accumulates even more static
over time. Until no new money ever makes it to the wider economy. -
However, just like everything in life that takes some deep thought. I could be over simplifying things.
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Great thread -- more please!
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Utility tokens are not so ludicrous comparing with fiats in the real word. Proof of anything is good when it matches its utilities.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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