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Both gold and bitcoin are a variant of "proof of wasted energy" or more euphemistically "proof of work". Why that makes it valuable is beyond me, but it isn't r
by _Algernon_ 1y ago
Both gold and bitcoin are a variant of "proof of wasted energy" or more euphemistically "proof of work". Why that makes it valuable is beyond me, but it isn't really a new thing considering the historic value of gold being much more than its utility as a material.
- briansm 1y agoThe 'value' in them is that they demonstrate that energy is currently so cheap and abundant to Us that we can waste it frivolously. It's a sort-of flex, showing off, a demonstration of (energy) wealth. Humanities's peacock feathers.