> You do realize that the comment was tongue-in-cheek?
Why would I? It's well-established that tone does not come across through text.
> There is no "resource draining" here. Even if someone found a way to solve the problem of distributed consensus without using a blockchain and found a way to make money out of it, they would be rich by wealth creation: new products, new services, new business.
While I see what you're saying, I don't think I properly explained my point as yours is not a counter to it. By "resource draining" I mean that overall the creators could get richer compared to everyone else. Even if they took say $0.01 from every transaction those pennies slowly add up. A dollar 'spent' by changing hands 10 times is actually $0.90. A dollar 'spent' 100 times has been effectively drained of all it's value with that value funnelled to the hands of those running the system. In a scenario like that, wealth creation as you've defined it actually pours fuel on the fire. Every business uses a huge amount of transactions to pay operational costs, and all of their customers generate transactions every time they pay.
We currently have this playing out in various ways (for example franchise markups) and even though it's so highly fragmented it's still an issue where wealth is concentrating at the top. So it follows that if the rich get richer, the rest must get less rich by comparison.
Why would I? It's well-established that tone does not come across through text.
> There is no "resource draining" here. Even if someone found a way to solve the problem of distributed consensus without using a blockchain and found a way to make money out of it, they would be rich by wealth creation: new products, new services, new business.
While I see what you're saying, I don't think I properly explained my point as yours is not a counter to it. By "resource draining" I mean that overall the creators could get richer compared to everyone else. Even if they took say $0.01 from every transaction those pennies slowly add up. A dollar 'spent' by changing hands 10 times is actually $0.90. A dollar 'spent' 100 times has been effectively drained of all it's value with that value funnelled to the hands of those running the system. In a scenario like that, wealth creation as you've defined it actually pours fuel on the fire. Every business uses a huge amount of transactions to pay operational costs, and all of their customers generate transactions every time they pay.
We currently have this playing out in various ways (for example franchise markups) and even though it's so highly fragmented it's still an issue where wealth is concentrating at the top. So it follows that if the rich get richer, the rest must get less rich by comparison.