A senior White House official has hinted at the possibility of the U.S. utilizing its gold reserves to acquire more Bitcoin (CRYPTO: BTC). What Happened: Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, ...
Because we’re talking about value by itself, outside of money. So HashCash for emails is useful even if there’s no money involved, but locking up a dozen Stanley Nickels doesn’t cost anything.
Gold has value by itself, just look up it’s applications in the semiconductor industry
Outside of money, PoW blockchains are useful for secure time stamps.
Why single out PoW? PoS also documents hashes immutably over time.
Because then people would have to admit that bitcoin isn’t crypto, and PoS consumes something like 99.9% less power than PoW.
Because we’re talking about value by itself, outside of money. So HashCash for emails is useful even if there’s no money involved, but locking up a dozen Stanley Nickels doesn’t cost anything.