TheGuySwann on Nostr: The problem is that it attempts to hold up the value of a literal monetary good, ...
The problem is that it attempts to hold up the value of a literal monetary good, through some arbitrary compute “utility.” It’s simply not going to work. We will be able to do all of those same things *without* some huge, messy, blockchain with a very poor security system destined to end up centralized anyway. In the end ETH must compete as money. And if you aren’t willing to hold it and only want to use it for “its utility” whenever it seems to be relevant, you’re explaining exactly the dynamic that will eventually kill the whole system
Published at
2024-09-14 16:05:39Event JSON
{
"id": "ba54e042b9db05a8449b8a4903426c2d895496937b04dcc1b1fa9544571cee81",
"pubkey": "b9e76546ba06456ed301d9e52bc49fa48e70a6bf2282be7a1ae72947612023dc",
"created_at": 1726329939,
"kind": 1,
"tags": [
[
"e",
"97bee76f22e48f069bc8b95084e882b40eb4778e4653db207834d81f508fddc5",
"",
"root"
],
[
"e",
"beae4d751230f19f03a4d9fef981da5dfbc5f126b4dd3bbf0483873bce3be021",
"",
"reply"
],
[
"p",
"b12deee231e85bec19f3e4e3fee5893d449b8ce159ed2adcecf60262afca6d50"
],
[
"p",
"2efaa715bbb46dd5be6b7da8d7700266d11674b913b8178addb5c2e63d987331"
]
],
"content": "The problem is that it attempts to hold up the value of a literal monetary good, through some arbitrary compute “utility.” It’s simply not going to work. We will be able to do all of those same things *without* some huge, messy, blockchain with a very poor security system destined to end up centralized anyway. In the end ETH must compete as money. And if you aren’t willing to hold it and only want to use it for “its utility” whenever it seems to be relevant, you’re explaining exactly the dynamic that will eventually kill the whole system",
"sig": "f897f0b304c2b5384085a3ca5328aefead0c974a5d93050d960856919d868f849566f0c9013a049adbca5590023b13af5da8892df392c3fd01de580fff35c58e"
}
