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You can completely agree with crypto-currencies having value and also believe "There's no net-value created by doing the 'mining part'". The reason is that what
by sopooneo 9y ago
You can completely agree with crypto-currencies having value and also believe "There's no net-value created by doing the 'mining part'". The reason is that whatever you gained in BitCoin value you lost in the ability to sell your electricity.
- DINKDINK 9y agoThe net value of doing additional mining is that the payment that you accept as a merchant is that much harder to undo by an attacker. If you accept that a bank vault that has one guard is made more secure by adding another guard you must accept that adding miners to a PoW chain makes it more robust against attackers -- this is the value.