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

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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.
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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.
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#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
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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…
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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
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Replying to @adam3us
How do you solve a problem without failing first?
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Replying to @adam3us
Proof of work is good because it is inherently meritocratic PoS networks can (will) be bought up by same folks who bought up our current system
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💯🎯
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Replying to @adam3us
This is nonsense Adam. Proof-of-work will devolve into human policy, inviting all those things as well. Monopolisation of block production is the max-profit strategy.
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And it's vulnerable to adversarial action e.g. by a nation-state agent with destructive intent. Proof-of-work doesn't achieve immutability and it doesn't make Bitcoin inert to human values.
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