Thank you for sharing this. For a while I’ve had a sense that “useful PoW” simply doesn’t make sense, but I was unable to explain why. This article perfectly e

Thank you for sharing this. For a while I’ve had a sense that “useful PoW” simply doesn’t make sense, but I was unable to explain why. This article perfectly explains why it doesn’t make sense, albeit using very econ-specific terms. I think it may be possible to explain it in simpler terms, without needing to introduce marginal revenue and cost, but I’m not sure exactly how just yet.