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The same argument can be applied to gold: resources are being utterly and completely wasted on securing Fort Knox, let's shutdown it and store all gold on a law
by mike_esspe 15y ago
The same argument can be applied to gold: resources are being utterly and completely wasted on securing Fort Knox, let's shutdown it and store all gold on a lawn without guarding it.
Mining is securing the bitcoin network in the similar sense, as Fort Knox secures gold.
- lukeschlather 15y agoComparing it to gold doesn't make sense; we've been off the gold standard for a long time. What it should be compared to is minting coins, printing money, and banking. (As far as banking goes, I'm not sure bitcoin really solves any of those security issues.)