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And banks, payment processors and other fintech companies hire tens of thousands of employees each to maintain business as usual. Considering that bitcoin itsel
by rpz 7y ago
And banks, payment processors and other fintech companies hire tens of thousands of employees each to maintain business as usual. Considering that bitcoin itself is a ledger and payment processor it makes me wonder if it could be an Avenue to free up human capital in the future for bigger and better things.
- notahacker 7y agoExcept of course, that the Bitcoin ecosystem also uses human capital to write payment processing infrastructure and attracts people that like to make money by writing trading algorithms, and the "actually we don't need to pay people to secure our storage or monitor our transactions" approach is a bug rather than a feature of crypto exchanges, which is why they lose people's money so often. The unique thing about proof of work isn't the lack of human capital, but the enormous energy requirements