11–20 of 109 posts
At some point mining will stop and energy use will only amount to running the blockchain nodes. How far are we from the total number of Bitcoins the system allows?
At some point mining will stop and energy use will only amount to running the blockchain nodes. How far are we from the total number of Bitcoins the system allows?
The people that write these articles haven't the faintest idea of the protocol and repeat the same tired arguments over and over again. Why does Bitcoin have to justify its energy usage when the legacy financial system does not? Who becomes the arbiter of what tech or sector deserves to draw on the grid?
These questions always strike me as disingenuous / intentionally obtuse. But charitably assuming an honest question for purpose of frank discourse, my simplest answer / understanding is that in general, in the daily transactional system, participants work to reduce energy cost per transaction and over most periods of time this energy cost per transaction has been reducing, or if it increases, it is to support some additional identifiable functionality. This strikes me as a rational system.
With bitcoin, my understanding is that effective energy usage per transaction / for the system as a whole has been increasing. This strikes me as iterational.
I am eager to be corrected if my high level perception of bitcoin is incorrect and energy costs have been rationally decreasing / becoming more efficient over time.
If NOT.. Then how does anybody persuade themselves to believe this is a rational currency system, or at the very least, that it's energy usage in particular is in any way whatsoever defensible??
At some point mining will stop and energy use will only amount to running the blockchain nodes. How far are we from the total number of Bitcoins the system allows?
At some point mining will stop and energy use will only amount to running the blockchain nodes. How far are we from the total number of Bitcoins the system allows?
"Proof of stake" to establish distributed consensus will solve the energy problem related to cryptocurrency. Ethereum is one example of such cryptocurrency that uses this mechanism.
"Proof of stake" to establish distributed consensus will solve the energy problem related to cryptocurrency. Ethereum is one example of such cryptocurrency that uses this mechanism.
"Proof of stake" to establish distributed consensus will solve the energy problem related to cryptocurrency. Ethereum is one example of such cryptocurrency that uses this mechanism.
"Proof of stake" to establish distributed consensus will solve the energy problem related to cryptocurrency. Ethereum is one example of such cryptocurrency that uses this mechanism.