Quote from: hash3r on December 20, 2017, 10:56:16 PM

Quote from: Bankincoins on December 20, 2017, 10:51:56 PM

This energy consumption narrative is garbage.

Really?

You have some home based miners installing separate 200A 3 phase electrical services in their homes for mining. An efficient 6 card 1080ti rig runs at like 1200W, all day every day. Thats a lot of power, and just one example. Not even mentioning ASIC miners, big business (data center) mining, or the resources required to manufacture the all of the required hardware.

Just saying, if you had a coin that doesn't require all of that and is more secure, why wouldn't it be superior?

Because it's not more secure. Not even close. The power usage is also negligible compared to literally every industry. It's like saying drippy faucets are a water wasting problem as millions of times more water is used on industrial farming operations.

Also, the problem is not using energy, the problem is that we are not getting our energy in a sustainable way. If we don't get energy from a better source in the future mining s the least of our problems. As I mentioned, gold mining alone uses like 15 times the energy of crypto.

PoS security and energy usage are two separate issues. Basically for PoS if it doesn't require and energy and is easier, it's going to be less secure by nature. Proof of work is secure because it requires work. There is a lot more to it than that and it depends on how the PoS is set up. What Ethereum was proposing last year was an absolute joke of an idea though.

Here is a good article on energy consumption and how that narrative is way overplayed. PoS coins like to have centralized marketing so its hard to avoid this FUD...

https://srsroccoreport.com/bitcoin-vs-gold-which-ones-a-bubble-how-much-energy-do-they-really-consume/