4 ms·
The author doesn't understand the value of distributed censorship resistant consensus that's secured by energy. Also the author fails to consider the situation
by phase5 4y ago
The author doesn't understand the value of distributed censorship resistant consensus that's secured by energy.
Also the author fails to consider the situation of 80% of humanity who live in countries that experience hyperinflation frequently. https://bitcoinmagazine.com/culture/check-your-financial-privilege https://bitcoinmagazine.com/culture/check-your-financial-pri...
- RandomLensman 4y agoPeople need to fix their societies and address the root causes of hyperinflation, not tinker around the edges with blockchain etc.
- hapiri 4y agoProof of Work is only as good as the assumption that CPU power and energy are guaranteed to be equally distributed, also everyone must have equal access on the network. Which we've seen is not the case.
- sprash 4y agoNo, Proof of Work does not need to be equally distributed. Even if just one entity does all the work it is incentivized that its blocks are accepted by the community otherwise all the work was for nothing and the miner makes a loss.
- Ragnarokk 4y agoI don't think Bitcoin is a global solution for hyperinflation. It just makes it worse. If the value of your money doesn't fluctuate with your, net exports, you'd better have a very cheap industrial apparel.
- whitepaint 4y agoYou can send dollars and euros on Ethereum as well.