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Is this a joke? Yes, bitcoin could function without using any energy at all if there where no transactions and no miners. That doesn’t change that currently ind
by boublepop 6y ago
Is this a joke? Yes, bitcoin could function without using any energy at all if there where no transactions and no miners. That doesn’t change that currently independent of transaction numbers a huge amount of energy is being wasted, and the minimal waste per transaction in a theoretical maximum transactions/energy scenario would still have you spending more than our entire energy production just heating up silicon if we relied entirely on Bitcoin for financial transactions.
- uh-quan 6y agoEnergy isn't being wasted, that's the point. What proof of work and the blockchain allows is a monetary network that (a) does not rely on trusted third parties for verification, whose (b) unit of currency does not rely on states or central banks, which cannot be trusted to avoid inflation. Whatever else you may think of those features, it's a bit weird to call it pure waste when clearly millions of people find this incredibly valuable.