On Tue, Jul 12, 2022 at 11:27 AM Lawrence Crowell < goldenfieldquaterni...@gmail.com> 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 everything-list+unsubscr...@googlegroups.com. To view this discussion on the web visit https://groups.google.com/d/msgid/everything-list/CAJPayv3FsmManZqhmBQusXwVHFrew-k%2B%2BY1W9K_mjXjfbWpzFA%40mail.gmail.com.
