Ahh. Ok. Thank you for that clarification; I'm still trying to wrap my head around his perspective, as I feel like there is something to what he is saying. It's still not clear to me how it would all come together. If clear to you, please elaborate.
Post by twetch#12490
Likewise.
What the chain says
- Block
- 623 188
- Time
- 2020-02-22T15:16:14Z
- Signer
- 17n1UjYJYSPFscU1rxZH2RX87vYx5BAi7z
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#12490
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
17n1UjYJYSPFscU1rxZH2RX87vYx5BAi7z VerifiedReplies (7)
I also liked Gilder's association of how time with everything because it boils down to frequencies (temperature, speed, etc). He mixed in measurements (meter, kilogram, etc) as well, which I struggled to find the relation (vs km/hr, wifi freq).
Agreed. Waves, all waves, are an expression of motion through some medium over time. Current is flow of energy and is a wave. No coincidence that currency has the same root word.
As for rate of mining blocks vs mining physical gold, there is a key difference that make the comparison inadequate, imo:
- the option to stop mining entirely
Gold mining can stop & transactions can continue with mined gold. Bitcoin mining can't stop.
Good insight. Depends on your perspective on incentives, namely whether or not they are they causal. If yes, then when gold has value > cost of mining, gold mining will continue. Same with bitcoin, if it has value > cost of mining, people will mine bitcoin
The relatively consistent annualized rate of gold mining referred to by George must include slowdowns, pauses, etc. And includes zero transaction dependency. "Mining" probably won't be the right word once all 21 million bsv are in circulation. Txns only