mleku on Nostr: there is no other use for proof of work and this can be seen visibly by the fact that ...

there is no other use for proof of work and this can be seen visibly by the fact that all the altcoins now are proof of stake

and proof of stake is just a rebranding of an old 1999 distributed database protocol, and basically means "just trust us bro" and i've been in the trenches for the last 12 years and i can assure you that those bros definitely play to keep their stake and buy or push out their opposition to dominate the consensus with what is essentially a fake decentralization

monero only continues to have value exactly in proportion to it's fanbase using it to buy their weed on the dark web

and the cost of this is that fluffybunny has to keep on modifying the proof of work unilaterally to stop asics leading to a miner attack

i wanted to be a proof of work maxi, and i devised my own scheme that was based on math that could not be made cheaper than a CPU but i decided that this would have a contradictory effect in practise because the whole world would be able to divebomb mine it opportunistically, which was the very thing i was trying to fix in my work with a bitcoin fork (used a combination of sha256 and scrypt as it was, and still is, parallelcoin)

i would be willing to bet that when fluffybunny dies or decides to quit running the monero project that the value collapses from its current pegging to the USD as the cult of fluffybunny fragments and the darkweb finally adopts lightning