That's not an answer. You implied that git and merkle trees can be used for p2p immutable ledgers. You have yet to show how that can happen.
> In literally all financial and legal regulations, the ultimate answer is "at some point you have to trust someone". This doesn't work out perfectly either (far from it), but it's an approximation that's proven more robust and usable for real world purposes than literally wasting electricity computing hashes.
That doesn't prove anything. The existing infrastructure has had thousands of years of a head start. Bitcoin has only existed for 6 years and ethereum only for 2. How can you expect this new technology to develop that quickly? The internet itself was started over 35 years ago and its potential still is yet to be determined, much less realized.
Also, there are a lot of PoS currencies that don't use computation power to secure their blockchain. What is your rationale for dismissing them?
> In literally all financial and legal regulations, the ultimate answer is "at some point you have to trust someone". This doesn't work out perfectly either (far from it), but it's an approximation that's proven more robust and usable for real world purposes than literally wasting electricity computing hashes.
That doesn't prove anything. The existing infrastructure has had thousands of years of a head start. Bitcoin has only existed for 6 years and ethereum only for 2. How can you expect this new technology to develop that quickly? The internet itself was started over 35 years ago and its potential still is yet to be determined, much less realized.
Also, there are a lot of PoS currencies that don't use computation power to secure their blockchain. What is your rationale for dismissing them?