Re:Bill Gates Says that Bitcoin is bad For the Planet
by darkwater on Monday March 08, 2021 @12:48PM
(#26388924)
> The problem with a digital currency, of course, is that when you hand someone a sequence of bits, they don't go away from you, so you can hand that same sequence of bits to another person.
> The "solution" people came up with to this problem was to not solve the problem, and instead solve a different problem, how to have a distributed ledger.
And what would be, at least intuitively, a solution to the "you can copy bits, give them away but also keep a valid copy for yourself" problem which is a problem for currency but also the default way digital information work?
If you had access to a near-perfect money printing machine, you would have just the same problem, we are just "saved" by the implementation difficulty. Just the same as with the ledger approach.
> The "solution" people came up with to this problem was to not solve the problem, and instead solve a different problem, how to have a distributed ledger.
And what would be, at least intuitively, a solution to the "you can copy bits, give them away but also keep a valid copy for yourself" problem which is a problem for currency but also the default way digital information work?
If you had access to a near-perfect money printing machine, you would have just the same problem, we are just "saved" by the implementation difficulty. Just the same as with the ledger approach.