/biz/ - Business & Finance

>>15038262
>That's cool, I'll leave it there. Consider other ways of wasting money and see if you find any examples where the mere act of spending increases the value of something else.

please, that is the common case: spending to increase the value of something else. i have a truck full of oranges in my orchard, i spend money to burn gas to get them where they have more value and take the profit.

when i consume/destroy/spend electricity in mining, by the rules of the game i move the approximate value of that burned resource to a place where it has higher value to me, which is into a blockchain. because now i can cross a border with a million dollars' value in my brain, and i think that is more valuable than having the million dollars.

again, the PoW mining game is just a universal agreement among the players as to what constitutes value. it's just a different formulation of the same type of money abstraction humans have been doing forever. i don't think you would be confused by the idea that a gold bar could be worth 500 carts of wheat, but somebody from the ancient past might really have a hard time wrapping their head around it.