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Bitcoin uses 7% of the energy the global banking system uses and its energy use doesn't scale with adoption
by nietzsch3 6y ago
Bitcoin uses 7% of the energy the global banking system uses and its energy use doesn't scale with adoption
- K0nserv 6y agoDoes that follow? Surely as Bitcoin becomes more and more valuable there's more and more incentive to mine and the more entranched it becomes more important to defend against 51% attacks become. It seems to me that what has happened historically i.e. ever more people starting to mine will continue as long as Bitcoin remains valuable.
- nietzsch3 6y agoYeah and I simply don't see 51% attacks working or going on for long periods of time due to adoption and game theory. Nation states simply can't afford gain 51% because it would mean they're already losing legitimacy of their currency IMO.