Hey Jessienvironmentalists
Ever since Elon decided to complain about Bitcoins energy use, we've seen a resurgence in the energy FUD, and Bitcoin has taken a knock. Each bull run Bitcoin gets attacked; in the last bull run, it was the block size debate, and it was more of an internal fight between big stakeholders, and they were told to get fucked.
Many of them capitulated while others went on to fork up their lives with BCH, which hasn't done much since then except for continuing to fork into further useless shitcoins.
I'm still amazed they use the term Bitcoin in the branding of those knockoffs, seems pretty pathetic to me that they can't stand on their own. Stay what you want about other shitcoins; at least they try to build a brand for themselves instead of trying to confuse noobs into buying fake Bitcoin.
Anyway, this is not what this rant is about; it's about proof of work. Why it's needed in Bitcoin, and if you don't like proof of work, you're misguided in your understanding of what Bitcoin is trying to achieve.
Bitcoin boomer
I've heard it all; Bitcoin is old, it's boring, it's the boomer of coins, why is it so slow and clunky, why does it need so much energy. People coming into Bitcoin today without knowing the history as if Satoshi didn't consider shit and just threw out the code online as a flyer.
If you read the white paper, if you look at the game theory and the way the incentives are set up, Satoshi was looking at the tech of his time and build something that considered all the trade-offs.
Now you get all these shitcoins, exploring the various trade-offs, and all of them are sacrificing security and decentralisation in the process.
Providing a floor of economic output
Humans settled on gold as money for centuries, and this wasn't by accident; it fitted a lot of the properties of money and was the most practical solutions at the time. Entrepreneurs would create goods and services only if the margin for it were higher than mining gold.
Gold provided a floor for effort, and any effort below that would be wasting and rather focused on increasing the supply of gold. Bitcoin takes that concept and says if you cannot use your time and energy to create something efficient, you can store it in Bitcoin in the long term.
Money is a representation of an output
If money represents output, then it can't be created out of thin air, be printed, be pre-mined, be staked and have inflation allocated to those with resources. It needs to be extracted via work, or it won't be valuable.
Look at how shitcoins are now trying to combat the inflation they create by setting up all sorts of burn programs and other nonsense because their coin cannot drive economic value. If you cannot see that this is exactly what the fiat and tax system does, I can't help you.
Shitcoins are only a replica of fiat and only have a future as long people rely on fiat as their measuring stick for value.
Bitcoin uses energy
Duh, I don't think we need to shy away from that or blame Bitcoin; we need to blame the fact that we have not yet had the courage to create better energy solutions. Bitcoin will always use energy, and it will continue to use energy on a grand scale as it needs to protect the worlds best asset.
Humans need to use energy; Bitcoin is an extension of that; we already waste so much energy on so much useless shit. Look at all the garbage products we crate, look at all the shit movies, look at all the useless videos on YouTube and the bullshit jobs we have.
You don't consider that a waste of energy?
I find it hilarious how hard people are fighting against their own prosperity because they are scared. I find it stupid that people say they want to upset the establishment, but they side with this bullshit green narrative.
Bitcoin is optimising the world's money; it's making business models, governments, banking, investing, insurance all irrelevant. So you can see why so many people want to fight against it.
Bitcoin is bringing more environmentally friendly production to the world than Tesla ever will, and Bitcoin has to do it without government subsidies and bending the knee to the media.
You cannot have a meritocracy without proof of work, and this is what I am here for.
I am ready to prove my work and my worth; the question is, are you?
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, "I am a Jessie."
Let's connect
If you liked this post, sprinkle it with an upvote or esteem and if you don't already, consider following me @chekohler and subscribe to my fanbase
| Safely Store Your Crypto | Deposit $100 & Earn $10 | Earn Interest On Crypto |
|---|---|---|
 |  |  |
Posted Using LeoFinance Beta
I prefer proof of work to proof of stake. Proof of stake is just the rich getting richer which we have enough of in the fiat world already.
Lol exactly and then these rich assholes are like oh but look its cheaper to use so where do those "savings" go, back to their pockets. It's economic sleight of hand it's so stupid
the 'boomer of coins', omg, are people saying that? i'm all for ratting on boomers, but that's just dumb. unfortunately too many noobs and plebs are around for the thrill and not the theory
Lol Yes it's actually a thing Bitcoin is a boomer coin, It's classic I just think it's people coming in with a total fiat mindset and trying to apply it to Bitcoin and then getting lost in the ether lol pun intended. There's enough faux fiat coins for them to speculate on, its an open penny stock market that's all.
I don't know if proof of work is better than proof of stake or not but I do think there is room for both. I think the biggest issue for more people is that we don't want to pay really high fees. In the case of proof of work, the amount you pay in fees don't necessary change (crypto value) but the fiat would according to the price increase.
Posted Using LeoFinance Beta
Proof of stake is inherently centralising, it's exactly how the fiat system works, if I have more cash and assets I get to divert more of the inflation to me. Proof of work is the only method that maintains order,I honestly don't see room for both, I think its a cop out to say proof of stake is better because you're butt hurt about fees.
Learn to use Bitcoin properly and you won't pay a lot of fees, I just think its a lazy argument
Okay Boomer!!!! :P
Posted Using LeoFinance Beta
I'd rather be a boomer then a shitcoiner but don't worry you'll learn that lesson soon enough
we're all shitcoiners in the eyes of the Lord.
Posted Using LeoFinance Beta
Jesus lived under sound money #justsaying
People don't know it yet but he fed thousands of people with five bread and two fish through the very thing we refer to as a Bitcoin halving.
Posted Using LeoFinance Beta
Lol well I guess I'll follow his lead and Bitcoin will be the hill I die on, I just love how many people hate Bitcoin and I get kicks out of taking it on both agasint no-coiners and shitcoiners