TheGrinder on Nostr: I should note that I didn't write this thesis. I found it circling around the ...

I should note that I didn't write this thesis. I found it circling around the internet a few years ago and for some reason kept a copy on my cloud.

"I’d argue yes, without proof of work and mining Bitcoin wouldn’t be effective!"

I completely agree with this. Though I'd argue that it would be possible to have a national currency based on a different algo such as PoS for the sole purpose of rewarding every person who uses (not stakes, holds, trades) being paid "interest" on their "account balance" instead of being charged commissions and banking fees.

For example a nation like El Salvador using Bitcoin as reserve currency while having their own national currency with a less volatile monetary policy yet still with a low inflation rate.

Meaning while the government participates in the creation of Bitcoin the citizens would have a more stable token of commerce while still receiving benefits as we used to do when Banks still used to pay real interest for working with your savings.

I'd have to spend some time on revisiting the above thesis again but I found it rather intriguing when I first came across the document on the internet.

I mean one thing is certain, our governance models need a new OS. The old one, 2,000 year old Greek democracy, has proven to be incompatible with the world in the 21st century.

In my opinion we can elect any administrators we want for another 100 years and nothing will really change because everyone is working with a broken OS. It's like trying to run new apps on Win3.1 in 2023... does not compute.