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This is based off a biased and incorrect assumption that "any jurisdiction with uncaptured externalities dominates". It ignores miner advantages bred from more
by derangedHorse 2y ago
This is based off a biased and incorrect assumption that "any jurisdiction with uncaptured externalities dominates". It ignores miner advantages bred from more efficient governance where externalities are covered by clear regulations and proper enforcement. Any venture can be made to have negative externalities and Proof of Work doesn't lend itself to either more or less of those than most other industries.
- Rhapso 2y agoYep. You are entirely correct but you miss the point. That "regulatory efficiency" doesn't and can't exist in our current flavor of capitalism. Yes, it is the same as any other industry. But pointing it out about Bitcoin doesn't scare the population as much as pointing it out for their entire economy.