How is Proof of Work not the same shit as Labour Theory of Value?

How is Proof of Work not the same shit as Labour Theory of Value?

>muh bitcoin is the true redpilled anacap money
It literally depends on a commie definition of what gives things value...
prove me wrong faggots

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Proof of work proves time, linking the asset into reality.

proof of work works
proof of does not

Crypto is a modern day communist revolution. We are ceasing the modern means of production. Factorys are a thing that only exist in a major way in china. The bank is the modern day factory. We communist

yes but to "prove time" you have to invest money....that money that you spent to mine proving time is the only thing giving bitcoin value....

jesus fuck this place is dead....who would have said that i would be missing the pajeets

You got it the other way around, bitcoin value is what attracts labor, labor does not give bitcoin value.

desu i don't even understand how to differentiate between pow and pos

in pos, capital invested = voting power

in pow, capital invested in mining equipment x time = voting power

seems like basically the same shit

Exactly.
Energy is scarce and useful, therefore valuable, labor is the effort required to result in some output.
The labor is worthless: the output is what is valuable/surprising

A given token distribution method is not arbitrary, but predicts the shape of the lifecycle of the network. We digitize the things we love.

Marx wrote about exchange BETWEEN GROUPS.

What this means to the Individual is a matter of feelings. Nation, State, and Capital are the intermediate expressions of GROUP exchange.

The labour theory of value suggests that the capital tools are not the property of one generation of value added comparative advantage.
. The mining work done today is worth more in the future. The mining hardware will be only a curiosity. The math and code will be the same or iterative.

Proof of work built durable networks. Proof of work network edge looks like healthy networks look.
. Healthy networks are an-archonic. Natural systems are holarchic.

Satoshi turned code into the means of production (of preciousness, immutability, explicit rarity). A btc ideally is the most verbose commodity fetish or immutable store of labour-time.

How many public pow chains will the market support? As many as it wants.

Marx also coined the term "capitalism". Now you can start reeeeing over your own economic system too lmao.

Bitcoin is digital gold because pure gold represents time and labor put in to mine, extract and refine the gold from ore. In terms of Bitcoin, the proof refers to the nonce and how many zeros it has in the prefix. That is very deterministic to calculate the computing power put in to calculate it.

Proof of Work is safer.

You know that mining equipment must be built and maintained for it to function? That means you can't arbitrarily increase your voting power at any given moment.

Because it is the same shit, its just that PoW uses mining so you have to buy actual hardware to get meme money and in PoS you just buy the meme money to make more meme money

Retarded Commies.

PoW isn't about determining value, it's about securing the Blockchain with a non negligible amount of effort.

An attacker would have to put in more work to undo consensus as the chain proceeds.

Read the Bitcoin White paper faggot

In PoS you're being rewarded with the very same think that grants you voting power, so it leads to centralization in the long run through compound interest

In PoW an increase in voting power depends on technological development and innovation, so it's arguably more competitive and has less of a tendency towards centralization

because a miner who has better equipment gets more bitcoin
they simultaneously raise the difficulty of getting more bitcoin, which typically raises the inherent value
proof-of-work cryptos—especially bitcoin—are the exact, precise opposite of marx' shitty, society-destroying ideas

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t. brainlet who doesn't know what the labour theory of value is.

bitcoins value does not derive from pow it derives from supply and demand.

Is PoS the capital is denominated in the coin of note, AKA you have to long Xcoin to make Xcoin

Come back, I want to hear more.

Labour theory of value was shit because it assumed all labour to be equal, which it clearly isn't in the real world. Some people's labour is vastly more expensive than other's. In mining, there is no such thing as "quality" of hashrate. All h/s are equal, and therefore this system actually works here.

no it was shit because it assumed value to be subjective when it's really objective

me too....i unironically saved your post to explore what you talked about on wikipedia

Surely it's the opposite? Saying value is proportional to labour (in some units of time) is tantamount to giving it some objective value. In reality, value is simply what a person subjectively assigns to something.

it didn't assume that. You just don't know anything about it.

You're not wrong, but you're values are mixed up. Realize that Crypto is the way forward but because Marx was right.

Commies aren't worth the lead and rope they deserve

>Still caring about the napster of crypto

user I. . .

As other posters said, POW is not the source of bitcoin's value, but crypto will be used to redistribute and give power to the individual, because marx was right and the players who are really going to change the crypto space know it

Proof of work isn't a claim that Bitcoin is worth the energy used to create one

Proof of work is just the option to buy a bitcoin for a specific price in electricity if you think that's a better option than buying from someone else.

the fuck is this commie revisionist histry. labor theory of value was articulated publicly before your demon god blood vomit and shit u eat right up.

>To each according to his need
So that's what he meant by this

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it's different because Proof of Work, you know...
WORKS

lmaaaaaaaaaaaooooooooo