13 ms·
Why do people keep propagating this claim that PoW is burning electricity for nothing? It directly provides security for the blockchain. I don't disagree with y
by 127 5y ago
Why do people keep propagating this claim that PoW is burning electricity for nothing? It directly provides security for the blockchain. I don't disagree with your arguments general direction, just with this piece of incorrect misinformation.
LED was a technological innovation. Nothing says Bitcoin can't have those. If you want more light, you need more lamps and you need to spend more energy. I don't really see the difference here.
About every 4 years the reward for mining a block will be halved. I don't see LED lights getting two times more efficient every 4 years.
- floatboth 5y agoBecause "security of the blockchain" doesn't necessarily mean "good for society". Cryptocurrencies are most widely used for speculation, and then fraud, ransomware, all those very fun and pleasant things.
- 127 5y agoI thought there was enough historical data to draw the conclusion that command economy doesn't work. I also would appreciate if you could back up your claims on how Bitcoin is used.