Re: [2017-11-12] Analyst: “In 4 years BTC mining won’t be profitable anymore”
Um, does he not realise that the profitability is constantly adjusting and will balance itself out? If it's too expensive then miners fall away until it attracts miners again.
It would be nice to see an alternative to PoW that does the job though. There'll come a point where comparing the electricity consumed by the banking world won't cut it any more.
It would be nice to see an alternative to PoW that does the job though. There'll come a point where comparing the electricity consumed by the banking world won't cut it any more.
Um, do you realise that this is a completely pointless observation?
The reason why proof of work secures the Bitcoin network is because of the "work" part
You're essentially asking for something for nothing, security for zero effort. You may as well fantasize about time machines or anti-gravity boots.So the "using too much electricity" rhetoric is no different to saying "Bitcoin is too secure". What exactly do you people want, insecure money?