3 ms·
> maximizing energy waste is the goal of proof-of-work No, it's not. You can't mine inefficiently and remain profitable. There's a market after all. This is s
by eaurouge 3y ago
> maximizing energy waste is the goal of proof-of-work
No, it's not. You can't mine inefficiently and remain profitable. There's a market after all.
This is such a ridiculous comment. I have to wonder why we have such gleeful wilful ignorance whenever the topic of Bitcoin or crypto comes up.
- kibwen 3y agoSpeak only of your own willful ignorance. Nobody said anything about inefficiency; ASICs are extremely efficient at wasting energy. The point that Bitcoin proponents refuse to admit is that, unlike other systems, making the components more efficient does not reduce the energy consumption of the system, because energy consumption is the purpose of this system. Even worse, it puts a floor on the price of energy, which disincentives everyone else from seeking more efficient solutions to power production, because all that efficiency will be wasted by proof-of-work anyway. We as a species will never have free energy, and this is the reason.