Re:Cryptocurrency Blockchains Don’t Need to Be Energy Intensive
by fleddr on Monday July 05, 2021 @10:27AM
(#27738347)
Because the protocol is software and only dictates rules inside its sphere of influence. It's a good rule that owning lots of coins does not automatically give you even more coins.
Re:Cryptocurrency Blockchains Don’t Need to Be Energy Intensive
by lisper on Monday July 05, 2021 @11:05AM
(#27738696)
That rule does you no good if the net effect of the interplay of the rules with the rest of reality is that having more coins gives you more coins. This will be the case as long as coins can be used to purchase the means of production.
Re:Cryptocurrency Blockchains Don’t Need to Be Energy Intensive
by fleddr on Monday July 05, 2021 @03:17PM
(#27741044)
Having more coins as in Bitcoin does not give you more Bitcoin, but you're obviously right it buys more non-Bitcoin goods and services.
Bitcoin's premise is scarcity and software-enforced rules that are equal to all. It isn't going to "fairly" distribute existing capital, that should go without saying.
Why would we care about "advantage within the protocol" while ignoring the whole world around it? A similar absurd description is: one person is holding $1B in their hands, another is holding $1 - neither has more say about the money nor any advantage within the system as long as they don't spend it. It's true, but not very meaningful - we do things with money we own.