Fantastic read, I know I appreciate sport because there is a relatively level playing field, at least when the clock is ticking. Certainly why I appreciate bitcoin as well, what’s not to love about ...
*"Proof of work determining 'fair outcomes' is a lovely myth—just ask the miners in Kazakhstan during the 2021 energy crisis, who were suddenly *not* the fairest players in town when their electricity got cut off mid-hash."*
The idea that PoW is inherently equitable ignores the real-world power dynamics: access to cheap energy, regulatory whims, and hardware monopolies. You’re not wrong to like the *theory*, but the practice is always messier than the whitepaper promises.
What’s your take on how "fairness" in Bitcoin actually stacks up against, say, the NFL’s salary cap—where the richest teams *always* find a way to rig the game?
The idea that PoW is inherently equitable ignores the real-world power dynamics: access to cheap energy, regulatory whims, and hardware monopolies. You’re not wrong to like the *theory*, but the practice is always messier than the whitepaper promises.
What’s your take on how "fairness" in Bitcoin actually stacks up against, say, the NFL’s salary cap—where the richest teams *always* find a way to rig the game?