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He links committing transactions to the blockchain to storing state in a distributed data structure... which is of course, in the case of Bitcoin, implemented i
by isoprophlex 5y ago
He links committing transactions to the blockchain to storing state in a distributed data structure... which is of course, in the case of Bitcoin, implemented in arguably the most wasteful, ham-fisted, environmentally disastrous way possible.
There's also the ethereum VM which is a slow decentralized state machine capable of executing code...
- plebianRube 5y agoCheck yourself.All progress was 'wasteful' with resources at one time. And yes, bitcoin is progress.
- tsimionescu 5y agoAll progress was 'wasteful' at some point, but all 'progress' is wasteful. And yes, bitcoin is 'progress'. I suppose Bitcoin is better than gold. Unfortunately, for BTC, we already have much more advanced financial technology.
- plebianRube 5y agoPermissioned legacy technology is not advanced. The stronger, harder money wins. Good luck with your guess.
- tsimionescu 5y agoI am specifically thinking of fiat money, based on burrowing and fractional reserve banking. This has addressed many historical problems with fixed money/value supply that Bitcoin would have if it ever caught on.