Counterintuitively I think there is something inherent about PoW; all systems tried so far have devolved into human policy, inviting moral hazard, lobbying, influence, or into grindable inelegant work, like brute forcing transaction variants to find a future where you get reward.
6:23 AM · Oct 16, 2021
Sometimes a deceptively simple solution takes decades to fully appreciate. In effect it's the only new thing, everything else has been tried before via dysfunctional human operated legal structures. #bitcoin PoW is like gold mining, one thing that really stood the test of time.
it's natural, reasonable, intuitive and part of the scientific, innovation driven process to assume and strive to radically improve new fledgling ideas. however historically there have been a few things which are just mathematically fundamental, not improvable for 1000s of years.
#bitcoin is one of those. the E=mc^2 of value, an engineered commodity money; we know from experience that digital engineered things can be leaps better than analog, there is a digital premium we're living through. and fundamental too: the internet has physics: information theory
i thought @saylor articulated the intuition for why #bitcoin digital gold can intuitively be better than gold: "#bitcoin is engineered synthetic pharmaceutical grade gold, it's all of the benefits of gold, but you can't make any more of it" youtube.lurkmore.com/watch?v=RwSIrTrg…
Bitcoin is the world's first engineered safe-haven investment:...
Michael Saylor, Microstrategy CEO, says companies sitting on cash like Tesla and Apple should be taking that money and putting it into bitcoin, which he says...youtube.com
it seems plausible and grows on people, that bitcoin as a mathematical new discovery, coupled with an engineered software realization, can be orders of magnitude better than physical gold, which itself stood the test of time, even though just a scarce metal dug up from the ground