2 ms·
sort of a meta question: would you consider your (or anyone's) past a fictional posession, or a real one? Though I'm highly skeptical of blockchainism (see use
by ChainOfFools 7y ago
sort of a meta question: would you consider your (or anyone's) past a fictional posession, or a real one? Though I'm highly skeptical of blockchainism (see username) I don't know if I'd be able to buy into this particular criticism of it.
Essentially a blockchain is a database of time and energy booked to a contrived measurable $particularActivity. This activity correlates to some past opportunity cost expense (and presumably a counterpart defensive loss aversion behavior expected in the future) on the part of the person burning time and resources to support that activity. A kind of rube goldberg electricity meter with a public log, that functions as a record of someone's ante in a super simple long running casino game.
The more you spend on/invest in this activity, the less inclined you are to forfeit your recorded proof of doing it for less than whatever you consider a fair return on that sunk cost.
This mechanism is fairly universal and applies to everything from hobbies to friendships to careers. What bitcoin (any blockchain really) does is just strip the commitment-payoff mechanic present in almost all human endeavors down to a cartoonishly simplified model and tie a bunch of charts and metrics to it, and use these to collectively goose our animal chase instincts into overdrive.