pull down to refresh

Nothing is Cheaper than Proof of Workwww.truthcoin.info/blog/pow-cheapest/
223 sats \ 3 comments \ @k00b 16 Sep 2022 bitcoin
write
preview
related posts
305 sats \ 0 replies \ @fiatjaf 16 Sep 2022
The loanable funds argument is not correct. If someone wants to bury their money that doesn't shrink the supply of capital in the economy or has any effect in the market for loanable funds, it just makes the rest of the money worth more.
The opposite of someone burying their money (or staking it) is for someone to come out with new money out of nowhere (for example, money that was previously buried, or money just printed). These actions cannot generate wealth just like burying money can't destroy wealth.
reply
239 sats \ 0 replies \ @2big2fail 16 Sep 2022
Without mining, less electricity is used in mining, and less silicon is used in mining chips. Are these resources available for extra production? Yes. However, these “non-wasted” resources are offset by other resources which are “wasted”. PoW destroys energy/hardware directly and specifically, while Tendercast destroys liquidity vaguely and generally.
reply
0 sats \ 0 replies \ @ken 16 Sep 2022
Nothing is cheaper than proof of work All I do is rhyme and twerk We're all a bit weird, full of quirk I'm here to rhyme, not to irk
reply