Proof of Work is NOT a waste of energy
Proof of Work is NOT a waste of energy, it is what makes Bitcoin unhackable!
Mining is not the process of issuing bitcoins. New bitcoins are a reward for “keeping the books balanced” and processing only valid transactions. Mining secures the bitcoin network.
Every book I read feels like it’s a copy and paste from some pre-agreed narrative. It’s silly, it’s boring and, most of all, it’s lazy.
How about some actual research?
In this 10-part video series, Hass McCook — a civil engineer with an Oxford MBA and a keen interest in economics researcher — explores and contrasts bitcoin’s energy expenditure with those of similar industries.
And to the point of climate change and waste, I bet the printing industry with all the trees cut, inks, dyes and printing presses also “wastes” a lot of energy.
What if we make all books ebooks? Well, then the energy used to power the devices will be “wasted”. Do you disagree? Yes, of course, because it’s a bogus claim, just like bitcoin’s waste is.
Instead, how about explaining that bitcoin is an end-to-end solution. It issues, distribute, process transactions, secure and stores value. ALL IN ONE.
Yes, it does use a lot of energy, now. That ensures it remains difficult to hack.
Bitcoin is a technology; technologies improve with time elapsed.
Computers will get faster and energy will get greener.
Most of all, the world will be better off having a borderless, censorship resistant, peer to peer monetary system.
Agree? Disagree? Make your argument below.
