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Yea agreed. I’m definitely a bitcoin maximalist moreso now. I mean if I were to receive a remittance I rather receive bitcoin than lumens. Interesting with bit
by antoniuschan99 4y ago
Yea agreed. I’m definitely a bitcoin maximalist moreso now. I mean if I were to receive a remittance I rather receive bitcoin than lumens.
Interesting with bitcoin though, when I first heard of it, I remember hearing they use that computational power to help (eg. Hospitals) run various computational heavy simulations in exchange for btc. Kind of like how Seti@home works. Always wondered where I heard that from. Unfortunately it’s just wasting energy rehashing sha256 a billion times :$
- randomhodler84 4y ago“Useful” PoW never really took off (primecoin and riecoin were prime number discovery POW functions that did not sustain long term value). it’s possible that general purpose and usable proof of work system might exist but I dont think we have found it. I have always said knowledge of the silicon capability of SHA256 and the integrity of ECDSA is itself of immense value.
- antoniuschan99 4y agoI’m definitely not super knowledgeable in cryptography, from the outside, the integrity of BTC is what makes me a bitcoin maximalist when it comes to Crypto lol. However, the high energy consumption as the tradeoff is definitely like the elephant in the room.
- randomhodler84 4y agoOne way to think of it as energy spend on activism for integrity. Many governments, tyrants and thieves would stop at nothing to corrupt the integrity of the chain. By sacrificing energy we make it very difficult for them to do so. It is not the energy or work itself that is valuable, but the requirement that an adversary outwork in order to inflict a negative outcome.