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Nonsense. Bitcoin mining's main cost is energy usage. It already fully optimises for less energy consumption. But because the way bitcoin is designed, any gain
by user-the-name 5y ago
Nonsense.
Bitcoin mining's main cost is energy usage. It already fully optimises for less energy consumption. But because the way bitcoin is designed, any gains in energy consumption will cause mining difficulty to go up, and with it energy consumption.
Bitcoin is designed to be anti-efficient. All improvement in efficiency of mining are immediately cancelled out by difficulty adjustments. That is the economic model of bitcoin: It will always use as much energy as you can buy with the mining rewards.