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Proof of work exists maintain unforgeable costliness. It's a basic pre-requisite without which you cannot have digital scarcity, because it would be far too ea

Proof of work exists maintain unforgeable costliness. It's a basic pre-requisite without which you cannot have digital scarcity, because it would be far too easy and too cheap to forge/create new coins. It's amazing how early we still are in Bitcoin after 12 years. Almost nobody on this forum understands why proof of work exists, and yet most people here are intelligent enough and have enough technical skill to figure out why. It is much greener than: napalm, nuclear weapons, etc. Trillions are spent every year on war to maintain the reserve currency status. Would you really rather prefer to spend trillions on standing armies, rather than incentivize cheap fusion reactors?

seaman1921 6y ago
Classic - assuming anyone who doesn't hold BTC is an idiot. Followed by a 'Have fun staying poor' to stir some social anxiety and FOMO. Unfortunately a lot of people keep falling for such statements and the price keeps going up - I have friends buying loads of dogecoin over the past week who told me they have literally no idea what crypto or doge is - but they know for sure that the prices are going to go up over the next month so they don't really care.
- inter_netuser 6y ago
  You are exactly correct, everyone who ignores does so at their own cost. Close to one _trillion_ in foregone profits at the moment. You think this is a fad?
  - myWindoonn 6y ago
    I think that it is a target. And apparently so does the original article's author.
ac29 6y ago
"This isnt so bad, because war exists" is one of the thinnest arguments in favor of something I've ever seen. In this hypothetical future where cryptocurrencies replace national ones, couldnt wars still be fought over the mining infrastructure or the resources needed to run it?
- inter_netuser 6y ago
  Standing armies is how we secure the reserve currency status today, that is all. Nothing to do with "war exists"

seaman1921 6y ago

Classic - assuming anyone who doesn't hold BTC is an idiot. Followed by a 'Have fun staying poor' to stir some social anxiety and FOMO. Unfortunately a lot of people keep falling for such statements and the price keeps going up - I have friends buying loads of dogecoin over the past week who told me they have literally no idea what crypto or doge is - but they know for sure that the prices are going to go up over the next month so they don't really care.

inter_netuser 6y ago
You are exactly correct, everyone who ignores does so at their own cost. Close to one _trillion_ in foregone profits at the moment. You think this is a fad?
- myWindoonn 6y ago
  I think that it is a target. And apparently so does the original article's author.

ac29 6y ago

"This isnt so bad, because war exists" is one of the thinnest arguments in favor of something I've ever seen. In this hypothetical future where cryptocurrencies replace national ones, couldnt wars still be fought over the mining infrastructure or the resources needed to run it?

inter_netuser 6y ago
Standing armies is how we secure the reserve currency status today, that is all. Nothing to do with "war exists"