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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: cosmicforce who wrote (480180)	9/27/2021 8:57:20 PM
From: neolib	Read Replies (1) \| Respond to of 541181

Your coconut economy should instead start with planting a coconut plantation, and tending it, and then harvesting the coconuts, which are then not used for anything other than monetary transaction. All the effort you put into raising coconuts is thus the effort of your bitcoin mining. The effort of making it public, can be trivial, compared to the effort of running the plantation. A better example would be to use Apples on a tropical Island. Apples won't produce fruit reliably without chilling. But lets say our shipwrecked survivors have 1 Apple, so they save the seeds, plant them in a "cool house" where they have to go to extreme amounts of work to get enough chilling to produce a few apples. He who works harder at this gets more Apples. The Apple seeds are then the currency. All the work that goes into making Apple seeds distracts from making food, clothing, housing etc. That is what is a better analogy to crypto. All the effort going into mining is effort not going into other things that have better uses.