This is one of many reasons why Ethereum is moving to Proof of Stake (PoS) and ditching Proof of Work (PoW). The already functional Ethereum 2.0 chain has Bitc

This is one of many reasons why Ethereum is moving to Proof of Stake (PoS) and ditching Proof of Work (PoW). The already functional Ethereum 2.0 chain has Bitcoin's security guarantees for a tiny fraction of the electricity costs. Bitcoin's yearly electricity consumption is now estimated at $3.8 billion. This must be sustained indefinitely, and is a huge target for regulation and nation state interference. https://digiconomist.net/bitcoin-energy-consumption/ https://digiconomist.net/bitcoin-energy-consumption/ Bitcoin's "store of value" has a forever price tag in the billions yearly. This doesn't make economic sense. If Ethereum can fulfill Bitcoin's role as a "store of value" at a much lower yearly cost, I don't see how it would not eventually become more attractive as a store of value. For a great detailed explanation on why PoS is better see Vitalk's blog. Vitalik views attacks on chains in terms of costs, which IMHO is the proper paradigm to quantify attack costs. https://vitalik.ca/general/2020/11/06/pos2020.html https://vitalik.ca/general/2020/11/06/pos2020.html (BTW, the TLS cert looks like it has an issue at the moment). In 2011 I assumed Bitcoin would transition because PoW's weaknesses were obvious. Unfortunately, the majority of the leftovers in Bitcoin no longer share my sentiment. Electricity consumption is a reason that PoW is the most likely downfall of Bitcoin if they don't transition to another technology. To keep PoW Bitcoin will need to morph into something else, like a semi-centralized "reserve" asset which is not a technology that excites me. A scalable ecosystem where large volumes of economic value can be transferred excites me. Everyday use excites me. You can "hide" an Ethereum PoS server in your basement. You can't hide the massive electricity usage, transportation, and manufacturing of specialized hardware used in a Bitcoin ASIC farm. The specialization also means there's a huge centralization pressure in the Bitcoin network. I personally welcome (reasonable) regulation, but if I was concerned about regulation as many Bitcoiners tout, PoW would not be an effective way of implementing regulation resistance.