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   Sick Sun (sun@shitposter.world)'s status on Thursday, 19-Sep-2024 21:03:12 JST Sick Sun
   > some portion of the electricity is used to validate transactions, but much is seemingly wasted solving flat-out useless mathematical problems. This “proof of work” is simply a way to create artificial scarcity
   
   :picardfacepalm:
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     Sick Sun (sun@shitposter.world)'s status on Thursday, 19-Sep-2024 21:42:41 JST Sick Sun

     in reply to

     • Top of the hop (on Mumble)
     @EmoIsDeadAndSoAmI the useless work is integral to the operation of the network
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     Top of the hop (on Mumble) (emoisdeadandsoami@mastodon.bv.linksjugend-solid.de)'s status on Thursday, 19-Sep-2024 21:42:44 JST Top of the hop (on Mumble)

     in reply to

     @sun what's wrong about this statement?

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     Sick Sun (sun@shitposter.world)'s status on Thursday, 19-Sep-2024 21:42:58 JST Sick Sun

     in reply to

     • Top of the hop (on Mumble)
     @EmoIsDeadAndSoAmI and artificial scarcity is presented like it's an objectively bad thing.
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     Top of the hop (on Mumble) (emoisdeadandsoami@mastodon.bv.linksjugend-solid.de)'s status on Thursday, 19-Sep-2024 21:51:30 JST Top of the hop (on Mumble)

     in reply to

     @sun to me it always sounds like creating a software solution that is entirely based on ideological understandings of how money and value work.
     I think the zero-trust and mutual correction aspect of blockchain is interesting, but the suggestion that it can be a reasonable medium for trade is not visible to me.
     Deflation caused Weimar hyperinflation in kind of a horseshoe-effect, but yeah people can disagree on stuff

     Sick Sun likes this.
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     Sick Sun (sun@shitposter.world)'s status on Thursday, 19-Sep-2024 21:52:18 JST Sick Sun

     in reply to

     • Top of the hop (on Mumble)
     @EmoIsDeadAndSoAmI Well, blockchains do do some interesting things (to me, anyway) but I agree they didn't pan out as actual currency.
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     lait accompli (genmaicha@stereophonic.space)'s status on Friday, 20-Sep-2024 15:26:06 JST lait accompli

     in reply to
     @sun because if cryptocurrency weren't artificially scarce, we would all be trillionaires! (and the currency wouldn't be worth shit)
     Sick Sun likes this.
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     Sick Sun (sun@shitposter.world)'s status on Friday, 20-Sep-2024 15:26:19 JST Sick Sun

     in reply to

     • lait accompli
     @genmaicha what if money weren't artificially scarce tho