Re: Lack of comprehension and imagination ...
"The proof-of-work part is only required if (a) it's a store of value in itself, i.e. it intrinsically represents money; and (b) the parties want to bypass all the institutions which traditionally control money, to ensure that assets cannot be frozen or confiscated."
And it's only feasible if the price of the work is greater than the value that's placed on it. The fact that the price is x doesn't mean that people are prepared to value it at x/y where y <=1.
Biting the hand that feeds IT
