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These "imaginary points" have very useful properties that cannot be achieved any other way. Bitcoin mining is still vastly more efficient and sustainable than
by VMG 11y ago
These "imaginary points" have very useful properties that cannot be achieved any other way.
Bitcoin mining is still vastly more efficient and sustainable than gold mining.
Edit: dear downvoters, rebuttals are welcome
- icebraining 11y agoI think the belief that they're useful is not widely shared.
- VMG 11y agoDo you know any other "imaginary points" that are scarce and can be transacted in an open system?
- icebraining 11y agoThere are many things that I believe not to exist, which doesn't mean they've be useful if they were, in fact, to exist.
- VMG 11y agoDo you think money is useful? How about digital money?
- icebraining 11y agoThing is, digital money already existed - when my employer pays me, he's not physically handing me an envelope of bills or even writing a check. It is, and has been for quite a few years, digital money.
- VMG 11y agoAnd for a lot of applications trusted third parties are completely sufficient, but in many instances you're better off without.
- icebraining 11y agoAnd that's precisely where the disagreement lies.