[throw99c]

About the form of money being quite dated: https://krugman.blogs.nytimes.com/2013/04/12/adam-smith-hate...

"And now here we are in a world of high information technology — and people think it’s smart, nay cutting-edge, to create a sort of virtual currency whose creation requires wasting real resources in a way Adam Smith considered foolish and outmoded in 1776."

Whatever the high-tech economic mechanism will be, bitcoin doesn't seem likely to be it.

[ilaksh]

Right. I wasn't recommending Bitcoin. I was talking about things more along the lines of Ethereum.

Ethereum is what happens when you keep evolving the idea of Bitcoin. Bitcoin is what happens when you freeze the idea.

But I will say that despite the wastefulness and other flaws of Bitcoin, at least it uses math to verify the ledger, rather than relying on authority and private entities to distribute points without any real verification.

Money is just a points system used to distribute control over resources. The main advantage of cryptocurrency is that it uses math to verify that people are not cheating in their points distribution.