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This perfectly encapsulates exactly how wasteful and backwards PoW cryptocurrencies are. In a system that wasn't wasteful, adding in huge amounts of otherwise u
by root_axis 8y ago
This perfectly encapsulates exactly how wasteful and backwards PoW cryptocurrencies are. In a system that wasn't wasteful, adding in huge amounts of otherwise unused renewable energy would be a great thing because it'd mean more energy for doing useful work (i.e. processing transactions), instead, adding in all that extra energy actually decreases efficiency because everyone else must now work harder to process the same amount of transactions because of the increased difficulty rate caused by more people competing for block rewards. These new competitors don't actually add value to the network, they just make useful work more expensive from an energy perspective.