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Yes, bitcoin mining would be worse. Provably worse. Your premise is wrong. Bitcoin has a mechanism called "difficulty". It's very much at the core of the proto
by moe 12y ago
Yes, bitcoin mining would be worse. Provably worse.
Your premise is wrong. Bitcoin has a mechanism called "difficulty". It's very much at the core of the protocol, google it and ponder how it affects your argument.
Furthermore, the current economics of mining have a fixed expiration date set to 2140, that's roughly when the last coin would be mined.
The protocol will need to be changed fundamentally long before that date. Since we don't know what that change will look like, we also don't know how it will affect the network's power consumption.
Any "thought experiments" that naively extrapolate from the current power consumption are as pointless as trying to guess your car's mileage based on its fuel consumption during ignition.
The protocol is still in the bootstrap phase. If it prevails then the bitcoin in 10 years will be very different from the bitcoin of today.