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No, I think you are missing the point. It’s not the need to use energy, it’s a security feature that you can’t create it without using energy. It’s defense mech
by keymone 6y ago
No, I think you are missing the point. It’s not the need to use energy, it’s a security feature that you can’t create it without using energy. It’s defense mechanism against debasement.
Gold has that mechanism by being a rare metal - there’s only so much of it in our vicinity. Bitcoin gets that mechanism from universal law of physics - you can’t create energy from nothing.
- jariel 6y agoNo, again, you're confusing the issue. The 'security feature' of BTC, which happens to be related to energy has nothing to do with currency, or necessarily even crypto-currenices in the general sense. The OP was trying to imply some kind of theoretical implication between 'energy used + value creation' (and you're also tying that to energy 'secure' usage). Yes - we know BTC is 'tied to energy' - but that's irrelevant in the bigger picture, it's a specific feature of BTC - it's not a 'fundamental' problem. There are myriad ways if distributing currency, even 'security' that don't involve arbitrary amounts of energy usage. BTC/Crypto is kind of infuriating space of very smart technical people who have almost no financial knowledge 'discover' what they think of as new, but in reality, most of this has been known since the dawn of classical economics. BTC is a novel thing, that's about it.
- keymone 6y ago> 'security feature' of BTC, which happens to be related to energy has nothing to do with currency it's literally the mechanism that solves double spend problem, which i'm pretty sure is quite important for a currency and to my knowledge wasn't solvable in trustless manner prior to bitcoin.