Redditsux@lemmy.world to News@lemmy.worldEnglish · 1 year agoWhite House Says Gold Reserves May Be Used to Purchase Bitcoinfinance.yahoo.comexternal-linkmessage-square187linkfedilinkarrow-up1619arrow-down17file-textcross-posted to: hackernews@lemmy.bestiver.se
arrow-up1612arrow-down1external-linkWhite House Says Gold Reserves May Be Used to Purchase Bitcoinfinance.yahoo.comRedditsux@lemmy.world to News@lemmy.worldEnglish · 1 year agomessage-square187linkfedilinkfile-textcross-posted to: hackernews@lemmy.bestiver.se
minus-squareBackgrndNoize@lemmy.worldlinkfedilinkarrow-up8arrow-down1·1 year agoGold has value by itself, just look up it’s applications in the semiconductor industry
minus-squareexplodicle@sh.itjust.workslinkfedilinkEnglisharrow-up3arrow-down3·1 year agoOutside of money, PoW blockchains are useful for secure time stamps.
minus-squareKnock_Knock_Lemmy_In@lemmy.worldlinkfedilinkarrow-up2·1 year agoWhy single out PoW? PoS also documents hashes immutably over time.
minus-squareprole@lemmy.blahaj.zonelinkfedilinkarrow-up2·1 year agoBecause then people would have to admit that bitcoin isn’t crypto, and PoS consumes something like 99.9% less power than PoW.
minus-squareexplodicle@sh.itjust.workslinkfedilinkEnglisharrow-up1·1 year agoBecause we’re talking about value by itself, outside of money. So HashCash for emails is useful even if there’s no money involved, but locking up a dozen Stanley Nickels doesn’t cost anything.
Gold has value by itself, just look up it’s applications in the semiconductor industry
Outside of money, PoW blockchains are useful for secure time stamps.
Why single out PoW? PoS also documents hashes immutably over time.
Because then people would have to admit that bitcoin isn’t crypto, and PoS consumes something like 99.9% less power than PoW.
Because we’re talking about value by itself, outside of money. So HashCash for emails is useful even if there’s no money involved, but locking up a dozen Stanley Nickels doesn’t cost anything.