1/ Here’s why I think Ethereum & Proof-of-Stake are bad ideas.
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So society progress can be seen as a constant search for reducing waste & finding ways to capture the energy that’s already there. Wealth is created in the process. “Wealth capture” is the more correct term than “wealth creation.” Wealth is not born out of thin air.
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In contrast, hash operations (not the mining hardware) are already 100% efficient *for the purpose of protecting a ledger from being rewritten*. One hash in, one hash out. No inefficiencies to exploit there.
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