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Proof-of-work having secondary commercial utility is troublesome because it can result in a situation where the secondary utility becomes more valuable than the

Proof-of-work having secondary commercial utility is troublesome because it can result in a situation where the secondary utility becomes more valuable than the former, in which case the currency is liable to collapse. I tend to think that proof-of-work must be inherently useless in order for it to function for this reason - otherwise, it's not 'work'.

PookTwo 12y ago
I disagree. I think that Counterparty adds value to the Bitcoin platform. I envision BTC almost being like gold, not something that will ultimately be used everyday. I think a token built inside of Counterparty will be that everyday used token. Its kind of like the internet, the original value of the internet was to transfer files from point A to point B. Then came: email, the browser, instant messaging, online shopping, social media, streaming, ext..... This adds additional value to the Bitcoin blockchain thus making it more desirable to have. But i do agree that the miners should work on useless algorithms, that is the best way to keep it just and fair, but building applications inside of that is just fantastic