Would you mind giving passers-by a 101 on Chia? Had never heard of it before. Recognise Bram's name obviously, but why is this interesting and valuable rather than another shitcoin? Bram's name alone has no weight in this area from what I can tell
Despite the buzz around cryptocurrency prices, there have been very little new working decentralized consensus algos since 2009. Most alternatives (the shitcoins you're talking about) compromised on decentralization and/or security. Chia has the potential to be a strictly better Bitcoin on almost all points.
(I'm neither an investor, nor a miner, nor do I own any of the coins, I've simply been enthusiastically waiting for its release since it was first announced)
It is becoming increasingly maddening to me that people still think this is a good idea.
If the coin becomes important or profitable, would this still be true? It seems like some of these coins replace direct energy use (coal/nuclear) with indirect energy use (create chips in factories from mined materials, all using coal/nuclear).
See Andrew Poelstra ‘15: https://nakamotoinstitute.org/static/docs/on-stake-and-conse...
I’m a huge fan of both Kevin and Bram so this was a big geek fest for me. The tech is very compelling.