NishanStepak
11 hours ago
There is no permanent freezing because wealth can be generated with energy. This is point of bitcoin, the more energy and compute you have the more wealth you can generate. If there was a caveat to this, it is the rep rap printer, which says raw materials (garbage or stuff that is good that can be used to make things), compute, and energy creates wealth in terms of material production. There is a conflict right now between generating wealth via energy versus generating wealth via debt (the traditional method).
quantified
6 hours ago
In the abstract, yes, things can be created through applying energy to matter (e.g. transforming land, timber, mortar, sand and metal into a house). Wealth via debt is the financial abstraction/technology, the things that pay the debt back involve energy or raw resource (land, water rights, mineral rights) somewhere. Bitcoin is interesting, it doesn't generate wealth. It's more a store of wealth, cash in a currency people have wanted in on. When the price goes down, it subtracts wealth. It's just an abstraction that has caught people's attention.