Cambridge Bitcoin Electricity Consumption Index

Post by dang » Wed, Feb 10, 2021, 10:52 PM UTC

jakupovic wrote: post #326

baxtr wrote: post #265

Ok, I have to admit that I am one of those people who knew about BTC very, very early but never bought any. Now, of course I should have mined at least 100 back in the days, but anyways. The reason I have never mined nor bought into it is that I still, to this day struggle to come up with a real reason to do so. Am I getting too old? Do I not see the "huge potential" what it may become? Don't I want to get freaking r…

The problem that you and others like you have is you don't have any BTC and now are struggling to understand why anyone else would have any. I think it's mostly from the fact you didn't get any when you should have and now there is no reason as it's expensive and again you don't have any. Simple really.

Post by harwoodleon » Wed, Feb 10, 2021, 11:06 PM UTC

aspic wrote: post #72

IgorPartola wrote: post #10

Slightly off topic, but does anyone have any good resources on how alternative consensus protocols work, like proof of stake and proof of importance? I either see really simplistic explanations or ones that assume a lot of domain knowledge. I also recently saw a crypto coin that claims to be energy efficient, and I don’t quite understand how that’s possible without the possibility of a 50.1% attack.

You're perhaps thinking of https://nano.org ? A brief description of it's Open Representative Voting (ORV) consensus mechanism: "A consensus mechanism unique to Nano which involves accounts delegating their balance as voting weight to Representatives. The Representatives vote themselves on the validity of transactions published to the network using the voting weight delegated to them. These votes are shared with thei…

Post by what_the_drew » Wed, Feb 10, 2021, 11:07 PM UTC

Post by shawnz » Wed, Feb 10, 2021, 11:10 PM UTC

nelsonenzo wrote: post #436

px43 wrote: post #393

Earlier quoted context omitted.

Hey there. I'm one of those people who read Schneier's Applied Cryptography in highschool in the 90s, and immediately recognized the groundbreaking potential of using asymmetric cryptography for currency. I work in information security, and have seen first hand how our existing financial infrastructure is held together with string and scotch tape. For 10 years or so, every time I heard about some big credit card thef…

So, what about refunds when corporations rip us off? And what about losing 100% of my funds when my key is lost or stolen? All keys are lost/stolen - it doesn't take a rocket degree to have observed that from human behavior. Who enforces splitting of equity when some rich dick beats his wife into submission? The courts don't control any bitcoin keys. The problems of bitcoin are proportionately larger than then proble…

Post by harwoodleon » Wed, Feb 10, 2021, 11:11 PM UTC

Capira wrote: post #888

janoside wrote: post #612

Nic Carter's rebuttal to a Bloomberg comparison between Bitcoin/Visa, including assessments of total and per/transaction energy usage: "First of all, Bitcoin and Visa are fundamentally different systems. Bitcoin is a complete, self-contained monetary settlement system; Visa transactions are non-final credit transactions that rely on external underlying settlement rails. Visa relies on ACH, Fedwire, SWIFT, the global…

This nails it!