5 ms·
Again, those don't have being inefficient by design built into their core. It's to everyone's best interest to make video games, leisure travel, and fashion, as
by anyfoo 6y ago
Again, those don't have being inefficient by design built into their core. It's to everyone's best interest to make video games, leisure travel, and fashion, as efficient as possible. Cryptocurrencies' proof-of-work concept relies on being inefficient. If you get more efficient, difficulty goes up, to keep the process inefficient.
None of the unimaginable amounts computations wasted on proof-of-concept have any inherent value at all, until someone hits that final "lucky" one, that allows the transactions to take place.
- herendin2 6y agoHave you ever considered why banks have walls, guards, and vaults?
- anyfoo 6y agoI'm not sure what that has to do with my argument. Besides, banks have less and less walls, guards, and vaults, because they keep less and less cash on premise. This is a prime example of the monetary system having been made more efficient over time.
- herendin2 6y ago>Besides, banks have less and less walls, guards, and vaults, because they keep less and less cash on premise. What then guarantees the security of the financial system and of our money?
- arcticbull 6y agoI don't know how to break this to you but, like SSL and logins.
- herendin2 6y agoOnly 'SSL and logins'?!
- arcticbull 6y agoI didn't realize we were making an exhaustive list, but it seems you meant at a systematic level. That would be the federal reserve and its charter, and the US government and its charter.