Re:Intel unveils BonanzaMine, a Bitcoin accelerator ASIC
by javert on Monday February 21, 2022 @01:09PM
(#30418773)
> Would love for you to point me in the direction of the supporting evidence.
There is scholarly work arguing for this. George Selgin comes to mind as someone who I believe has written about this. There's probably also scholarly work arguing the other side. I can't take the time to dig this up for you right now.
> But it's absurd to think that money supply should be fixed to the arbitrary quantity of a random element that we can dig out of the ground.
It certainly isn't absurd. There are lots of people who think this is a good idea, with good reason. Plus, it is historically precedented, and for good reason.
There is scholarly work arguing for this. George Selgin comes to mind as someone who I believe has written about this. There's probably also scholarly work arguing the other side. I can't take the time to dig this up for you right now.
> But it's absurd to think that money supply should be fixed to the arbitrary quantity of a random element that we can dig out of the ground.
It certainly isn't absurd. There are lots of people who think this is a good idea, with good reason. Plus, it is historically precedented, and for good reason.