bramanga on Nostr: It's not 'money out of nowhere'. It required energy (electricity), capital ...
It's not 'money out of nowhere'. It required energy (electricity), capital (hardware), and work (effort) to create. This the importance of proof of work. Name a fiat currency that is 'mined'. The halving just cuts the mining reward in half in order to de-incentivise miners from flooding the market to further ensure it stays deflationary (aka: number-go-up-technology).
Published at
2024-02-08 17:33:17Event JSON
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"content": "It's not 'money out of nowhere'. It required energy (electricity), capital (hardware), and work (effort) to create. This the importance of proof of work. Name a fiat currency that is 'mined'. The halving just cuts the mining reward in half in order to de-incentivise miners from flooding the market to further ensure it stays deflationary (aka: number-go-up-technology).",
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