Comments on: When Whiteboard Economics Collides With Reality.

By: voza0db

voza0db — Fri, 28 Oct 2022 22:15:59 +0000

The ONLY and MAIN unbalance with current crypto is that it's running on a private network and that the herds of modern moron slaves are using fiat money to buy crypto just to try do have even more fiat money in the end!

As usual REALITY shows that degenerate uman animals won't be able to escape their final destination…

By: Mark E. Jeftovic

Mark E. Jeftovic — Fri, 21 Oct 2022 11:51:53 +0000

In reply to Kenan Meyer.

The miners don’t dictate the policy of Bitcoin, and even if hashpower concentrates, it doesn’t affect the protocol.

We saw a good example of this when over 50% of the hash power was in China up until the ban, and the hash level dropped by half very suddenly and the network just kept going.

If a single entity managed to accrue enough hashpower to override the network (51% attack), they’d wind up with a hard fork on their hands, and their expenditures would become worthless. They’d pull a Bitcoin Cash, basically.

By: Kenan Meyer

Kenan Meyer — Fri, 21 Oct 2022 11:06:56 +0000

Mark, you're argument can be applied to Bitcoin as well, since there is a tendency for it to becoming a miner oligopoly. It has been in practice when mining was dominated by just 4 chinese miners. And this research paper proves the tendency in theory as well https://drops.dagstuhl.de/opus/volltexte/2018/10098/

I do of course share your view on the ESG nonsense though

By: Robert

Robert — Thu, 20 Oct 2022 19:36:11 +0000

"Why is it A Bad Thing when you use the energy to run an ostensibly distributed, universal Turing-complete super-computer under Proof-of-Work, but then it’s celebrated as a milestone when you use even more energy to run a bunch of EVs – which end up being charged by coal and built with lithium and cobalt sourced from child labour?" ^^This!! The best synopsis I've seen. The irony would be hilarious if it weren't so tragic.

By: GlobalID NA

GlobalID NA — Wed, 19 Oct 2022 21:19:24 +0000

Agree with all points here. The question is who in the power needs “real” money? Less maneuvers, less overall power over plebs, and…it is soo yesterday:)