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 …
I fell it was obvious so didn’t add a qualifier but unforgeable costliness is a mandatory requirement only for hard-to-manipulate sound money.
You can of cos do whatever you want with make-believe unsound money: fiat, reward points, travel miles, etc. 
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Isn’t it the opposite? If funny money can so easily gain real value, doesn’t that suggest unforgeable costliness isn’t necessary for something less funny?
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Having a price tag doesn’t construe “real” value. Anything can have a price tag above its true value due to people being irrational or threat of violence. But in the long run things always return to their true value.
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The “sound” part of sound money gives the monetary asset an anchor of value to return to. Funny money has no anchor.
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But also individual people don't exist for the long run.
End of conversation
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