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As a programmer I agree, but for a business a service might have a nice mote and offer the right incentives to develop and sell a service. A crypto service is
by wrnr 5y ago
As a programmer I agree, but for a business a service might have a nice mote and offer the right incentives to develop and sell a service.
A crypto service is the worst of both worlds, in this case the income just goes to the miners.
- thayne 5y agoAnd the enegy companies that sell the power for mining, and the chip makers that sell chips for mining.
- wrnr 5y agoBut chips and power-plants are harder to create then just copying software.
- thayne 5y agoFrom my understanding, mining is generally pretty difficult to do profitably.
- calvinmorrison 5y agoAnd the African children mining the metals!
- MereInterest 5y agoFollowing it that way is like following the glass maker in the standard broken window fallacy.
- thayne 5y agoAnd in the parable of the broken window fallacy, the glassmaker does benefit from the broken window, but the broken window is bad for the economy overall. It's a similar situation here, at least in the short term GPU makers are profitting from increased demand, as well as scalpers and people selling secondhand GPUs, but for the economy (and in this case the environment) as a whole it is probably unhealthy. So, the broken window fallacy is definitely relevant but doesn't really refute my claim that someone is benefitting from it
- MereInterest 5y agoTrue. I had interpreted your comment as implying that the existence of beneficiaries beyond the transaction validators themselves makes the system as a whole be beneficial.