Comment by UltraSane
4 hours ago
Why? BTC is not just worthless, it has negative value due to how much electricity it takes to securely mine new blocks.
4 hours ago
Why? BTC is not just worthless, it has negative value due to how much electricity it takes to securely mine new blocks.
Did you read the paper? There exists a technology that has purely enforceable property rights. What is that actually worth? I don't know.
Yeah yeah, I've read the arguments about liquidity issues, shutting down the rails, making it illegal to trade, etc. but that's beside the point and depends on a thousand future variables to play out. So I don't know if btc will make it or not, but I do know property rights mean everything to humans. They literally determine whether not one is a slave (I am my own property). So just the ability to have a technology enables pure property rights to a world where nobody really has enforceable property rights over anything seems pretty interesting to me.
Property rights are enforced with guns.
That's why Monero is superior; no amount of guns is going to help somebody steal property that they don't know you have.
That's like saying cars have negative value because of how much oil it takes to run them.
Cars have the benefit of transporting humans and goods around.
It's more like saying a hypothetical car which moves itself by using gasoline as a propellant rather than fuel for its combustion engine would have negative value.
Sure, using fuel (of all things) for propulsion would be one way to move a vehicle, but it would be inefficient by design.
Bitcoin, at least, was created during a time where there was no alternative to security-by-inefficency, but PoS and other consensus mechanisms are pretty battle-tested now
But cars are useful.