On Tue, Jul 12, 2022 at 11:27 AM Lawrence Crowell < [email protected]> wrote:
> > Currencies are in some ways just as artificial as cryptocurrencies. In > fact, most everything humans chase after is spun up as whole cloth, from > countries, to gods, to money to belief in comrades in arms and so forth. > Most everything humanity does is ultimately fake. Money is stuff we just > "make up." Even the value of gold is something we "make up." We might be > better off if we stopped making this crap up. > Barter is impractical so money comes in handy. Gold has retained its value over the centuries because it's still rare due to the fact that we haven't found a practical way to transmute elements on an industrial scale, but all cryptocurrencies have a fundamental problem, they are all based on the difficulty of making calculations and we certainly have found a way to make calculations on an industrial scale Bitcoin has an additional problem, the absurd amount of energy required for even a simple transaction. Quantum Computers could probably significantly lower that energy bill but quantum computers could probably also crack elliptic encryption which bitcoin uses. So I think the future of bitcoin is going to be pretty bleak. John K Clark See what's on my new list at Extropolis <https://groups.google.com/g/extropolis> lns -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/everything-list/CAJPayv3FsmManZqhmBQusXwVHFrew-k%2B%2BY1W9K_mjXjfbWpzFA%40mail.gmail.com.
