Replying to Avatar Jay

Cryptography isn't Bitcoin's primary driver; it's proof of work. The cryptography and data structures used are fully arbitrary and could have looked completely different. But the use of physical energy to power global consensus on the state of Bitcoin ownership could not have been any different.

So really "cryptocurrencies" should have been called energy currencies. And proof of stake/fiat 2.0 would never have affinity scammed Bitcoin.

Good morning ✌️🧡
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supermass 8mo ago

PoW don’t matter without difficulty adjustment, which doesn’t matter if not limiting issuance to 21m, which doesn’t matter if bitcoin isn’t money.

Bitcoin is bitcoin’s primary driver😵‍💫

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ethfi 8mo ago

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Jay 8mo ago

I would say even the design of the difficulty adjustment period, issuance schedule, and the exact number of units are arbitrary, so long as a finite state space emerges.

You can change the adjustment period and the hashing algorithm and the difficulty scheme and the issuance schedule and the number of units. You can even change what you call the whole system and the stories you weave it into, including economics. But you can never get away from generating watts to power it.