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The primary difference is that basic research is conducted with everyone's money -- mostly via grants, and a lot of it in the US underwritten by the federal gov
by ryandamm 5y ago
The primary difference is that basic research is conducted with everyone's money -- mostly via grants, and a lot of it in the US underwritten by the federal government -- for everyone's benefit. Even the venture capital industry is largely averse to basic research; they want more Ubers, or companies that can bring University tech to market.
Blockchain? The money flowing in is substantially from retail investors. And that's the problem. This is why we have regulations.
- galaxyLogic 5y agoIf Bitcoin is like gold, then there's really not much money going into it, into how to make better bit-coin, how to make better gold. All the money just goes into buying the bit-gold itself, or perhaps buying more mining equipment. But Bitcoin is not a replenishable resource so mining it will have diminishing returns, and like with every mining industry the nature is at risk.