I see a permissionless, decentralized network of nodes enforcing a stable set of rules governing the sovereign transfer of bits of information stored in a data structure that is rendered immutable by a worldwide effort to turn physical watts into digital security.
But also maybe tulips.
that's beautiful but it will never work, someone will just throw limitless watts and computing power to extract all the value at once
It's just Bernie Madoff's The "Empire Strikes Back".
Yeah you're right. There'd need to be some kind of mechanism that adjusts the diffculty of writing transactions to the chain. But how would people even get their tokens to transfer in the first place?
Good point, no fair way to issue and distribute. Was a nice thought I guess...
too bad there's no way to earn coins with provable work
Nope. No way to let the people processing transactions earn a reward for their effort. You'd just add an infinite number of tokens to the system. It'll never work.
Even if it worked, the government would just ban it.
💯 they'd never acknowledge much less adopt something that so obviously undermines the power of the federal reserve cartel. Never in a million years.
We'll just have to change the rules every month and it's ok that every market had to guess at financial decisions years out. Good way to allocate capital
What a great point, not only is it impossible but it would just be banned. No government would accept such an atrocious waste of energy
Say they did accept it. No doubt they'd just change the rules to suit them. It's just software after all.
Definitely. The rules would change and someone would invent a better version
