I don't think Bitcoin is a global solution for hyperinflation. It just makes it worse. If the value of your money doesn't fluctuate with your, net exports, you'd better have a very cheap industrial apparel.
Proof of Work is only as good as the assumption that CPU power and energy are guaranteed to be equally distributed, also everyone must have equal access on the network. Which we've seen is not the case.
No, Proof of Work does not need to be equally distributed. Even if just one entity does all the work it is incentivized that its blocks are accepted by the community otherwise all the work was for nothing and the miner makes a loss.
The guy has absolutely no idea what he's writing about. He lost me at:
money issued by central banks, fiat money, acts as a ‘store of value’ – it preserves the spending power of income and wealth, so that you can be confident that a pound, say, will buy about as much in a year’s time as it would today.
That's generally true for most fiat money in stable countries, but it becomes an absolutely terrible store of value for anything longer than a few years.
That's why most money kept with banks is kept in interest bearing accounts to at least keep up with inflation (obviously things have been a bit off kilter since the GFC and covid). Or that pound quickly moves into circulation.
It's been more than a decade of innovation. Gary Gensler (SEC Chairman) has acknowledged the value of Bitcoin. Lets ignore idiots like Jorge Stolfi. He's no different from the BSV characters...
There's a big difference between entrepreneur vs business owner. Entrepreneurship refers to creative destruction which some people actually thrive on because it gives more meaning to their life as opposed to a mundane job or small business.
