[walterstucco]

> a permission-less censorship-resistant decentralized financial system has the potential to truly improve society

It is dependent on a huge amount of cheap energy

I wouldn't call it censorship resistant yet

Raise the cost of the energy and only the ones with deep pockets can decide what is true

[chillingeffect]

This comment led me to compare crypto mining with the American Gold Rush in the 1800s.

An intriguing difference might at least some miners struck it big due after finding huge geographical deposits of gold. In cryptocoins, though, the flatter distribution of the space means people tend to get out what they put in.