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In those other processes the designers aim for efficiency - more useful product per entropy. In bitcoin it's exactly the opposite. That makes it unpalatable.
by zbrozek 5y ago
In those other processes the designers aim for efficiency - more useful product per entropy. In bitcoin it's exactly the opposite. That makes it unpalatable.
- zamadatix 5y agoIt is inefficient and unpalatable compared to traditional trust absolutely, even to some other crypto methods that try to achieve similar goals. Like I said I'm not really a fan of Bitcoin (or crypto to be honest). That being said Bitcoin doesn't aim for less product per entropy. That would literally mean you get more reward for doing the same work in the same time but less efficiently which isn't true. That doesn't mean everyone always uses the most efficient hashing method, just like not every car uses the same engine because it has the best efficiency, it just means the aim isn't towards making less product per entropy. The product may not be aligned with what you want (e.g. "very efficient way to trust a transaction") but that's back to calling the energy usage all "just for waste" because you don't personally value the output the same way as someone else (which is true of every use of energy).
- clarkmoody 5y agoBitcoin mining strives for as much efficiency as any other electronic process: ASIC chips are hitting the smallest process size available. Miners are extremely sensitive to electricity cost, so they must be efficient there. They do not compete with households for power. If Bitcoin mining were aiming to consume the most energy possible, then the hashing would be done by hand on pencil and paper.