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the calculations make sure the btc network works. so it can't be useless. or do you dismiss ALL of btc as useless?
by mpfundstein 6y ago
the calculations make sure the btc network works.
so it can't be useless. or do you dismiss ALL of btc as useless?
- bcheung 6y agoWell, there are alternatives consensus mechanism that look just as good if not superior like Proof of Stake that don't require all that electricity.
- fileeditview 6y agoDo you have a link ready to any crypto that has a working proof-of-stake? Back when I was looking into this topic there was none.
- bcheung 6y agoYou can start with the Ethereum whitepaper. https://ethereum.org/en/whitepaper/ https://ethereum.org/en/whitepaper/
- thezoginator 6y agoAll of btc is useless! Please give an argument how it is not.
- PragmaticPulp 6y agoYou’re missing the point. The Bitcoin network is literally designed to incentivize, with payment, bringing new energy-inefficient operations online to “mine”. The efficiency of the network gets worse and worse all the time, all while processing the same limited number of transactions. Worse yet, Bitcoiners seem to like it this way. Proposals to increase block size have not been welcomed, and they go to great lengths to discourage switching to other protocols with better energy efficiency (because it would harm their investment). The entire system revolves around inefficiency, and unfortunately we pay for that inefficiency with energy consumption.
- x3n0ph3n3 6y ago> Worse yet, Bitcoiners seem to like it this way. Proposals to increase block size have not been welcomed, and they go to great lengths to discourage switching to other protocols with better energy efficiency (because it would harm their investment). That's exactly why the Bitcoin Cash fork happened.
- mamon 6y agoThat's exactly how "Proof of Work" consensus algorithm works: hasking a single block has to waste enough electricity to make forking the blockchain too costly.