Just want to point out that Proof of Work is not the same as "created out of thin air". All bitcoins were produced from consuming energy. There is an actual cost (in electricity) to mine and produce new BTC.
Some other cryptos did away with Proof of Work because they said it's wasteful. Okay. But the alternative is trusting a central authority to manage the ledger honestly, or trusting an elite class who already owns most of the supply to be benevolent, and we know how that goes.
Just want to point out that Proof of Work is not the same as "created out of thin air". All bitcoins were produced from consuming energy. There is an actual cost (in electricity) to mine and produce new BTC.
Some other cryptos did away with Proof of Work because they said it's wasteful. Okay. But the alternative is trusting a central authority to manage the ledger honestly, or trusting an elite class who already owns most of the supply to be benevolent, and we know how that goes.