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One huge difference between Bitcoin and gold is that gold can be possessed purely on one's own. Bitcoin requires the continuous expenditure of energy to maintai
by acjohnson55 5y ago
One huge difference between Bitcoin and gold is that gold can be possessed purely on one's own. Bitcoin requires the continuous expenditure of energy to maintain the record of ownership.
- ur-whale 5y ago> energy to maintain the record of ownership. That is entirely incorrect. Energy is expended to allow transfer of ownership, not to maintain the record. If all miners save one dude with a laptop stopped to mine transactions tomorrow, you still wouldn't be able to spend Bitcoins for which you don't own the private key.
- acjohnson55 5y agoI agree with your technical clarification, but there would be no point in owning a balance if the ability for someone to receive it in a transaction without fear of double spend disappeared. Therefore, I stand by my statement. Bitcoin has no value without continuous expenditure of energy.
- thewarrior 5y agoIf we run out of energy aren’t there bigger things to worry about ?