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Except in Model A the products have some utilitarian/recreational value to humanity (coats, iPhones, ect.) In Model B the product is a transaction network that
by kevinqiu1 7y ago
Except in Model A the products have some utilitarian/recreational value to humanity (coats, iPhones, ect.)
In Model B the product is a transaction network that is horribly inefficient in terms of $$$ transferred per unit of energy input. It probably makes sense to buy Cocaine (even then other cryptos are likely more efficient energy wise/secure) with Bitcoin, it doesn't make any sense to buy a car with it when there's already a banking system
- fermienrico 7y agoDefinitely, I am missing the intrinsic societal value of Goods and Services produced from Model A and that's lacking in Model B. I am curious if Model B can use the generated revenue with a guaranteed (by law) expenditure to benefit the society? Right now, say governments use unused hydroelectric power to mine BTC and use it to buy masks or ventilators? Also, lol at Cocaine :D
- jsjohnst 7y ago> say governments use unused hydroelectric power to mine BTC This would be predicated on there being unused hydroelectric power, which there generally is not (unless you factor in over production via other means of generating power that are less environmentally friendly). Unlike wind and solar, hydroelectric power is generally very predictable and controllable how much is produced and when.