Proof of Work

Explain how this isn't EXACTLY like the retarded commie Labor Theory of Value.

Makes sense why chinks and Russians are obsessed with it.

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proof of work scales horizontally. proof of work vertically. only few stakers are always held accountable for the majority of transactions, which has terrible operation security. in proof of work when one miner turns malicious he will easily be replaced by a good faith one. if the entire network were to become compromised their machines are interoperable and frankly have no political faith, or sentiment to the chain they were working on.

you aggregate opportunity cost associated with the success of the network through proof of work to incentivise honesty and you do that because it's profitable but it will only continue to be profitable if transaction fees relpace block reward which will happen with lots of transactions with cheap fees because a peer to peer cash with high fees has no demand

>implying Marx didn't predict the exact clown world we live in

LTV is undercooked but is more human than the current system we're headed for.

But anyway LTV is about humans relation to the progression of automation, and PoW is clearly just about profitable automation under capitalism.

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Marx didn’t even believe in the LTV you dipshit. Neo-Marxists don’t know shit about economics. read a fucking book.

>predict
not hard to predict when you're hanging out with rothschilds

It is. Its the equivalent of digging a hole and expecting that hole to be worth something because someone spend time to dig it

you're thinking of proof of stake

Little bit of chicken fried.

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Yes, and a society that has to work to support themselves is an enofrcer of honesty to some degree as well.
But it doesn't make the product any more valuable.

proof of work is what secures the network. btc is not claimed to be valuable in proportion to the work input. incel

Proof of stake is where my natural talent or skill builds the same thing as 8 million grunts slaving all day and the commies REEEEEEE to eternity.

So it's worthless is what you are saying since there are other ways to secure a network and this one is basically retarded if a "secure network" is the goal.

So it's EXACTLY like LTV because the "work" part is actually worthless, yet is lauded constantly.

proof of stake is for people without any natural talent or skills or work ethic. It's the only way you can survive.

It doesn’t get its value from pow, it gets it from scarcity. Pow is just the authorization mechanism for writing new transactions.

>natural talent
>skills
>work ethic
You see that gap? I put it because these have nothing to do with each other.
I think work ethic is what grunts with neither talent or skills hang their hat on.
Now, they can coincide...

If the work secures the network, then the work produces value chud. Why don't you go shoot up a school or whatever you incels do nowadays.

So the work part is worthless since you can create scarcity by design.

At this point it's like there is a guy with a forklift telling the dudes carrying things by hand to load it on the lift and they are cursing him and telling him to fuck off.

you have any idea how much talent and skill and hard work it takes to be a competitive bitcoin miner?

None.
It was all bought up by commies using money they got from stealing it.

it's questionable if the blockchain needs to have an upkeep 24/7 in the indeterminable future. or if bitcoin was just a product of its time, if we will experience some relief in currency markets, and if we experience heavy censorship and inflation again like in the past, we couldnt just boot up another blockchain to do that bidding

Well maybe one day the markets will agree with you.

It's a fact that is verifiable.
Most mining happens in China.
You think some poor Chinese genius cobbled something together?
Or you think the CCP and oligarchs dumped massive resources that weren't theirs to start into it?
Which is more likely?

Coming up with the idea was also stupid since it wastes so much energy and time and is entirely unnecessary.

The work part has worth because it represents a system that incentivized independent actors come together to achieve a shared goal (processing financial transactions).

Do you invest in companies? Many people do. Companies are just systems that bring together independent actors (employees) together to work towards a shared goal.

again, if you were correct and you could see beyond your ego, your views would be reflected in the marketplace.

I own a company actually which gives me a clearer understanding of what you are saying than even you who KINDA gets it.

I spend all day every day figuring out how to produce the same thing with less work. Literally ALL DAY EVERY DAY this is what I do.
Yet, the amount of work to "create" BTC is lauded as some great plus of the system.
topkek

It will have collector value only within 10 years.

I can't tell whether this is an actual argument or someone having stroke.