omerskywalker on Nostr: The Ultimate Resource: Time The difficulty-adjustment is about keeping a constant ...
The Ultimate Resource: Time
The difficulty-adjustment is about keeping a constant time, not a constant level of security, difficulty, or energy expenditure.
This is ingenious because good money has to be costly in time, not energy.
Linking money to energy alone is not sufficient to produce absolute scarcity since every improvement in energy generation would allow us to create more money.
Time is the only thing we will never be able to make more of.
This makes Bitcoin the ultimate form of money because its issuance is directly linked to the ultimate resource of our universe: time
- Gigi
The difficulty-adjustment is about keeping a constant time, not a constant level of security, difficulty, or energy expenditure.
This is ingenious because good money has to be costly in time, not energy.
Linking money to energy alone is not sufficient to produce absolute scarcity since every improvement in energy generation would allow us to create more money.
Time is the only thing we will never be able to make more of.
This makes Bitcoin the ultimate form of money because its issuance is directly linked to the ultimate resource of our universe: time
- Gigi