How do you then compete with companies from other geographies willing to overwork US companies? Sounds great on the surface, but if you slow down the treadmill too much, you risk falling off completely.
Not burning your employees out is good. Totally unclear that working "80 hour weeks" is any more productive than a standard 40 hour week. Keeping employees around by slowing things down and making things more humane means you can retain employees for longer, build institutional knowledge, build a good culture at the company, etc. You can have a company full of atomized, dehumanized, and miserable workers... or not? Not seems better.
Oh, you miss the point. Nobody wants to overwork. The sweet spot is billing US company for enough hours for them to think you work more than their engineers, undercutting them in the absolute terms and getting more due to purchase power you have in your locale.
Another misleading article regarding PoW. There are two kinds of people here. The ones that think that crypto is pure speculation and a drug/criminal related technology hence is waste in any sense, and those who believe that crypto is solving something.
It's pointless to discuss the value of decentralization here for the first group, so I have no argument here.
For the second group, the ones that believe that crypto is solving something, I will remark that the only reason we are using blockchain is for its decentralized nature. For several reasons, PoW nature is way more decentralized than PoS. A big argument for PoW is that literally anyone can join the network by transforming energy into cash. On the other side, with PoS, the only way you can join the network is by buying a PoS token. You can't mine it if you don't hold the token before. That can be a problem for people based in countries that restricts crypto. At the same time, the players who hold the majority of the tokens have most of the mining power in PoS.
If we are willing to sacrifice decentralization, then we shouldn't be using blockchain as a data structure.
The fact that the governments have printed more money than ever added to the current inflationary rates over the last years makes me believe that its worth spending 2-3% of the world energy on a deflationary asset that is not in control of any person or government. Having a trustable currency is one of the most important aspects of modern society.
PoS is not as decentralized as PoW. With PoW, you can literally transform energy into cash. In order to be part of a PoS network, then you need to buy the token/coin first. What if you are in a country that restricts crypto? How can you participate in the network? The whole point of using blockchain is to make something truly decentralized. If you are sacrificing decentralization, then you should ask yourself whether you are using the proper data structure for the problem that you are solving.
A bubble in terms of what? If we continue to print money at this rate it won't make sense to short almost anything. Even with highly leveraged assets, if they drop they will only face a temporal correction. I agree with Zhu Fu in saying that by Burry defining himself as a bear, he hasn't achieved anything but underperform the market.
The less wasteful cryptos are more centralized. What's the point of using an inefficient data structure (blockchain) if you are sacrificing de-centralization in pursuit of gaining efficiency? Over time miners will move into renewable energies as the price of them goes down.
From a financial trading/pricing standpoint, I'd say bitcoin is centralized too, in that binance, bitfinex, coinbase and the rest of the major exchanges are necessary for the trading process.
Then when you add their dependence on centralized stablecoins like Tether to the mix, I don't think BTC would have the price it has now, if it were truly decentralized.
