@Zin-Zang
AFAICS, this conversation is becoming too chaotic, I suggest you choose just one topic, like energy waste of bitcoin (your terms) and simply prove my arguments about the irrelevance of your claim, wrong. Although I've clearly stated everything necessary in this regard for your convenience I try to make another brief argument here:
1- Bitcoin and PoW generally, consume energy to keep the network safe against unfaithful behavior of malicious participants. It is irrelevant to call it a 'waste' because it is one of the most useful use cases for energy ever: decentralizing money.
2- The coins generated in PoW, have objective value because they have been produced by consuming resources like any other asset (other than fiat currencies). PoS generated coins are just like fiat, they come from nowhere and have no value.
Now, in just 2 short paragraphs refute my arguments above.
AFAICS, this conversation is becoming too chaotic, I suggest you choose just one topic, like energy waste of bitcoin (your terms) and simply prove my arguments about the irrelevance of your claim, wrong. Although I've clearly stated everything necessary in this regard for your convenience I try to make another brief argument here:
1- Bitcoin and PoW generally, consume energy to keep the network safe against unfaithful behavior of malicious participants. It is irrelevant to call it a 'waste' because it is one of the most useful use cases for energy ever: decentralizing money.
2- The coins generated in PoW, have objective value because they have been produced by consuming resources like any other asset (other than fiat currencies). PoS generated coins are just like fiat, they come from nowhere and have no value.
Now, in just 2 short paragraphs refute my arguments above.
OK,
1. Your conclusion is misplaced, because energy consumption does not keep bitcoin safe.
IE: ~2 years ago Chinese Miners gain ~71% control of bitcoin mining, the energy required to run bitcoin has increased dramatically in that 2 year period,
it is no safer now than then , and the argument could be made it is less safer as the Chinese miners are running a 2nd coin to switch too.
Shorty put : Bitcoin Security is dependent on the Continued Chinese Miners Collusion , energy spent is irrelevant.
2. PoS or PoW coins value is perceived by the price the public is willing to pay.
With PoW coins, you have a higher baseline price because of a psychological floor due to the input cost needed to produce a bitcoin today.
However the majority of Bitcoins were mined at much cheaper prices than today's rate, so that promoted myth fails to hold water and is a falsehood.
The amount of resources going into a product do not guarantee a higher price.
IE:
Make a Car out of pure gold , it cost to purchase would be immense, however due to the weight , it would be crappy on gas mileage and a prime target for thieves, as such the majority would shun it as wasteful and pick a car with better gas mileage that was more affordable.
Shortly put : PoS & PoW coins are both created by using electricity, program code, & time to create said coins.
It is just that one requires less resources to be created and used.
FYI:
Another good example of the amount of resources going into a product don't guarantee a higher price, is the US Penny.
It costs the Government more than a penny to make a penny, but yet when you spent it , it is only worth 1 penny.