another great article, especially because of the parallels you made between SoP and market dynamics.
Personally and this will come as no surprise i am very much in the weeds of does the end justify the means and am a stake at home person.
however one of the leverage points to change that system would be looking at how we use energy and why. And yes it's all about that most precious energy, work. The constant mantra of we need people to have jobs to be safe is falling apart. people have their work, and more and more are demanding that their work have purpose and that is not necessarily fitting well into the never ending growth model of consumerism. All lot more folks are actually finding out that they don't need to keep their jobs or businesses open at all costs. they are adaptable and diversified- both elements that rely on community. So it will be interesting to see what happens as folks get less and less interested in relying on the current infrastructure and the folks in charge.
the fact that SoP saves on energy is true, however at a huge cost as SoP has that inherent problem of largest whale controls the shoal, which the crypto community are very aware of so we will see how that goes. one might argue that if we used energy effectively (i can give a thousand examples but just yesterday i went to buy frozen tuna, usa pacific coast caught, that was then shipped to vietnam, processed there and then shipped back etc ad naseum) blockchain PoW would be considered an effective way to retain an honest value which would be a huge leverage for systemic change
One of the best explanations around that i will post next comment
I don’t know anything about crypto - but the energy market and the relationship between the dollar and oil is not new.
The run up in oil prices for the last few months was a global supply issue - US pipelines and leases canceled, EPA going after domestic fracking, large Russian fields offline as Oil Majors withdrew. I haven’t seen anything to add to global supply - and the things that got us here haven’t been reversed.
So I’m left with a troubling conclusion: that the recent decline in oil prices is a result of a decline in demand, which means a decline in economic activity, e.g. recession.
All this at a time when Central Banks are committed to rate hikes, Europe is heading into a long, cold, expensive winter - I don’t see any silver linings.
The problem with blockchain is that its design is flawed. You need to focus on distributed ledgers, wich is a bigger group than just blockchain, it does solve the same problem though. Do it with blockchain and it costs you $40 to run a smart contract do it with say... hbar costs $1
Byzantine fault, Interactive consistency, source congruency - How to solve the condition of a system where components may fail and there is imperfect information on whether a component has failed.
another great article, especially because of the parallels you made between SoP and market dynamics.
Personally and this will come as no surprise i am very much in the weeds of does the end justify the means and am a stake at home person.
however one of the leverage points to change that system would be looking at how we use energy and why. And yes it's all about that most precious energy, work. The constant mantra of we need people to have jobs to be safe is falling apart. people have their work, and more and more are demanding that their work have purpose and that is not necessarily fitting well into the never ending growth model of consumerism. All lot more folks are actually finding out that they don't need to keep their jobs or businesses open at all costs. they are adaptable and diversified- both elements that rely on community. So it will be interesting to see what happens as folks get less and less interested in relying on the current infrastructure and the folks in charge.
the fact that SoP saves on energy is true, however at a huge cost as SoP has that inherent problem of largest whale controls the shoal, which the crypto community are very aware of so we will see how that goes. one might argue that if we used energy effectively (i can give a thousand examples but just yesterday i went to buy frozen tuna, usa pacific coast caught, that was then shipped to vietnam, processed there and then shipped back etc ad naseum) blockchain PoW would be considered an effective way to retain an honest value which would be a huge leverage for systemic change
One of the best explanations around that i will post next comment
Wow, this article is info-dense!
I'm going to have to read this one at least two more times.
I don’t know anything about crypto - but the energy market and the relationship between the dollar and oil is not new.
The run up in oil prices for the last few months was a global supply issue - US pipelines and leases canceled, EPA going after domestic fracking, large Russian fields offline as Oil Majors withdrew. I haven’t seen anything to add to global supply - and the things that got us here haven’t been reversed.
So I’m left with a troubling conclusion: that the recent decline in oil prices is a result of a decline in demand, which means a decline in economic activity, e.g. recession.
All this at a time when Central Banks are committed to rate hikes, Europe is heading into a long, cold, expensive winter - I don’t see any silver linings.
The problem with blockchain is that its design is flawed. You need to focus on distributed ledgers, wich is a bigger group than just blockchain, it does solve the same problem though. Do it with blockchain and it costs you $40 to run a smart contract do it with say... hbar costs $1
here is a docuemtary explaining the difference.
https://youtu.be/SF362xxcfdk
crypto will make it, buy blockchain wont
Byzantine fault, Interactive consistency, source congruency - How to solve the condition of a system where components may fail and there is imperfect information on whether a component has failed.
https://en.wikipedia.org/wiki/Byzantine_fault