So one of the question I guess about Bitcoin mining as an alternative power projection game,

I guess the cleverness aspect comes in with just the operational efficiency of Bitcoin mining

and or ASIC chip efficiency.

I would actually argue no.

And I would argue this is a common misconception.

People will talk like it's more efficient to fight or establish

permissionless control over property through Bitcoin because it uses less energy than all

the watts of all the people fighting and all the guns going off

and bombs going off. And while that's true, I don't think that's the source of its competitive

advantage, meaning I don't think its operational effectiveness is the source of its competitive

advantage.

The operational effectiveness of gunpowder wasn't the source of its competitive advantage.

The operational effectiveness of torpedoes of nukes weren't their competitive advantage.

The competitive advantage instead was because like everyone,

everyone wants to be more operationally effective no matter what game you're playing,

whether it be in business,

you want to lower your costs,

you want to increase your profits.

Like if it's a game that everyone's playing, then that isn't the distinguishing factor between why something takes off and why it doesn't.

Is that synonymous with profits or points in a game, it's operational effectiveness term

that you're using?

Yeah, so I'm using operational effectiveness as distinctly as the opposite of competitive

...