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> Sadly, the proof of work (POW) principle makes Bitcoin not physically nor ecologically sustainable. Any cryptocurrency based on this principle suffers from th
by tromp 6y ago
> Sadly, the proof of work (POW) principle makes Bitcoin not physically nor ecologically sustainable. Any cryptocurrency based on this principle suffers from the same problem.
Not to the same extent. A big contributing factor is the very high price of bitcoin that results from the FOMO on its finite supply, nearly 90% of which is mined already.
If Bitcoin had no halvings, then its inflation rate would come down much slower and its price would be much more reasonable.
Sadly, very few PoW coins follow that wide distribution model.
- tsimionescu 6y agoIf the Work is easy and doesn't consume much energy, than it's easy to forge. This is true even if 1 BTC were worth 1 cent - the cost (in Watts, not dollars) of mining doesn't depend at all on the price of BTC. Instead, if BTC weren't worth much, people would likely just stop mining, and the transaction speed of the BTC network would grind to a halt, further driving down its value.