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> there is simply no way for anyone to send $99 to try to get at that randomness. Sure there is: black bag your house and bug your laptop, or remotely compromi
by api 9y ago
> there is simply no way for anyone to send $99 to try to get at that randomness.
Sure there is: black bag your house and bug your laptop, or remotely compromise it.
If the original article's argument is basically correct then it means that for any alternative to PoW such as PoS compute-grinding work may be replaced by attempts to game the system or attack the system's security.
I'm also skeptical of the claim that PoW is necessarily more expensive than fiat currency issuance. To account for the cost of fiat you must include the cost of all the security, administration, and governance that is required to enforce the integrity of the system. A dollar costs a lot more than the paper it's printed on (or numbers in a database).