Personally, I think the whole idea that this stuff somehow represents money is where you made your mistake.
The 30k profit that’s sitting in my bank account surely does feel like money to me, though.
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I can pay for goods with it, or receive it as payment. It has value in exchange to any other currency in existence. What else would you call that? You people are always pretty quick to voice your opinion about the topic, but it shows that you didn’t actually spent much time thinking about it.
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The same I could say about a pile of sand. There is limited amount of it on the planet also, so why not use it as a common currency? Mining it is pretty energy intensive so its value is tied to energy and time, and you can put a law that prohibits stealing of it. But with sand you actually own something usefull to somebody.
It would be better common currency than for example bitcoin, as everyone can use it without computers, all you need is shovel to dig some, you can even dig with your hands.
Comically, bitcoin is that sand, but its virtual sand with an antistealing algorythm that can be eventually broken when quantum computers will be advanced enough. With usual sand you will never break the first law of thermodynamics…
Is heroin money? Are sexual favors money? Because you can use those as a medium of exchange, too.
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Because it’s abundant and not rare
Yeah, I think it’s a good thing you can’t just create it from thin air and have to put in an equivalent amount of work/energy. Because in the end money is a tool to exchange work and goods. With the current system you have a few who can just create it out of thin air, which devalues your work.
I have no idea what you try to say with that
You could use sand as money. But it has probably not the best properties. Since it’s not rare you would probably have to drag half a ton of it to the store and I somehow doubt they would take it as money. But go try and tell us how that went.
Literally money on the streets, go for it.
Please explain in detail how a QC can attack Bitcoin, I just want to make sure you actually know what you are talking about.
Yeah I’m pretty sure Bitcoin also doesn’t break the first law of thermodynamics
The question is if it’s good money.
Instead of using energy to haul sand, you could pay someone to haul it and store it. That gives it value. You would pay for that in transaction fees. Like with bitcoin, every transaction takes up energy and storage is needed.
Advantages of sand are also that it doesnt use energy to store and can be stored indefinitely.
Just like you could say with every crypto creation actually.
You just need enough hype and shils, that it will make you rich.
But it doesnt use it as a means to secure it. It uses algorithm that can be broken by future quantum computers.
With sand you would need to exert so much energy that the stealing large amounts of it would be unprofitable as energy you would have to exert would be not less than to load and haul it yourself. In fact you dont really need ovnership for sand as currency, as for everything you would have to dig as much as is needed to meet damands of the buyer.
Sure, you could do that. Probably already racking up a lot of fees just to buy at your local store. But what if you want to make an international payment. Now you have pay someone to ship the sand across the world and that will take weeks until the payment arrives. Not very practical.
Bitcoin is global because it’s a native digital asset. It can be transacted instantly at virtually no cost. Sounds to me a lot more like useful money
It uses a lot of storage space though and you have to make sure it stays clean, no animals ■■■■ on your money stash and plants make it their home. All that takes work, which is energy. It probably costs a lot to actually store the sand.
Bitcoin can be stored for free. I just have to hold on to my keys. I can store them in my brain by memorizing 24 words or write them on a piece of paper.
Yes there is a lot of dumb ■■■■ in crypto. Most of it will vanish again. Few will stay because they are actually useful.
Which algorithms are you talking about. Make an example of what exactly a QC can break. I bet you can’t.
Yeah, but that also means that it would cost you a lot of energy to move it, or the person you pay to move it. So it effectively has insane transaction costs, which make it not very good money.
So now you dilute your currency even more. Wasn’t it already bad enough?
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That means you should buy locally, and not use energy intensive routes. Sand can be the best option to make economy more green.
SiO2 is also global. but is a native real asset. Real means nobody will ever need a computer to store and process it, that means its truly universal.
I am sure with digital sand certificates that would be also possible, but there is always real sand and real energy that means real value.
But you have only 24 words written on paper if everything else fails, With Sand you still have simple system that you will be able to operate every minute yourself, no passwords needed.
Sand with energy backed payments will stay a lot longer than any crypto tho.
Sorry, its about encryption, I didnt wrote precisely.
Bitcoin uses elliptic curve digital signature algorithm to encrypt. Its estimated that 300 million physical qubits are needed to break that encryption, it is considered achievable.
Value is in energy and to exert that energy you would need a mass to move. Its simple system and doesnt have weak points. Its a lot more empowering and everyone can use it, with only some people powerful enough to gather so much as to build pyramids of it. BTW, would you maybe want to buy a pyramid? Really cheap.
Yeah but it also means you can’t buy your EVE sub or buy games in Steam with sand, because since you evaded the question I assume even you accept it would be extremely expensive and slow to ship that stuff around the world.
You probably mean physical, not real. There is no requirement for that for money. In fact it’s what makes money really expensive and slow if it’s physical. That’s why sand and gold make bad money.
Oh yes, progress, kinda. Now you have sand backed digital money. How do you know it’s actually backed by sand and the person that creates the digital sand certificates doesn’t create them out of thin air?
Actually I could probably write and sign a transaction by hand and send it by legacy mail. It’s just math. You could even attempt to mine a block by hand and record the blocks on paper. Would be a bit clunky, but probably still more efficient than sand money. It would be insanely decentralized though, as now it’s basically brain power instead of computers. Would still work though, Bitcoin is simply a protocol.
Probably has to catch on first
We are getting closer. A QC could be used to calculate the private key you need to spend coins from a public key, something which would take until the heat death of the universe with classical computers of today. But you need at least the public key for that. Where do you get that from?
Sounds like Bitcoin, except instead of matter you use a prove of work hash to prove you invested the energy. A lot easier to verify and transport. Also everyone can participate, you don’t even need a huge truck to transport your lunch money.
How much sand are we talking about?
You could also issue bills and they would be backed by real sand in your backyard. Everyone could check how much you backed. Sand backed currency is the future!
5.3 million metric tons.
Also, its on the other side of the moon. Its worth a lot.
What if I told you the value of bitcoin is directly proportional to the value of tax it helps avoid.
Bitcoin is not a scam it helps people safeguard their wealth from actual scams like taxation or fines on the trade of prohbhitted goods and services.
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Yea? USD has been used to purchase little girls and so have other currencies in the past. You never punish the majority for the minority bad.
Yeah but is the shop owner supposed to check your backyard during the purchase to verify that your bill is backed by sand?
Why not trade sheep instead? They are at least more mobile than a sand pile.
Your sand backed pyramid scheme went to the moon?
I guess you had no good answers to the points you ignored. That’s fine, as long as you don’t repeat them in the next conversation like they are actually valid points.
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But they would not be so stable and guaranteed value currency as sand. Sheeps are all different. Sand is all the same SiO2.
Very fast. Because its the best currency ever. Check the sand prices. They are going up steadily.
Definitely better than bitcoin, as with bitcoin you will always stay in the speculation limbo.
Sheep are much more rare than sand. The whole pile in your backyard will buy you a bread today but probably not tomorrow as bigger shovels get built to dig up more sand. Sheep are much more stable. Bullish on sheep.
There is actually a token called SAND, one of the garbage crypto game projects. Just be careful you people don’t confuse your drivel for shilling that scam 
I’m sure people speculate with sand a lot longer already than with Bitcoin.
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My sand pyramid scheme is the best, rock solid gains.
Crypto-riche don’t want real-world crap - they want imaginary assets that show off how clever and sophisticated they are. Try selling him a pyramid NFT.
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Heh, classic, the old woman at the sidelines just randomly ranting without actually having anything at all to say about the topic. lol
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You are obviously intelligent enough to see why cryptocurrencies will fail. But you seem to want to believe in them for idealistic reasons. Most of the people who made fortunes in cryptocurrencies seem to have no idea what they even are - they just know that they like how rich they make them feel.
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