Fiat still requires costly proof-of-work

The Fiat Standard Lecture 16: Bitcoin and Energy Markets discusses proof of work as a technological alternative to fiat’s political conflict, how miners seek zero-opportunity-cost energy globally, and why difficulty adjustment turns demand into network security.

You can buy the hardcover, ebook or audiobook in several languages on saifedean.com/TFS, where you can also find the full lecture notes available for free download.

You can also take the rest of Saifedean's courses by signing up to a membership on saifedean.com/membership