Post
Topic
Board Development & Technical Discussion
Merits 12 from 5 users
Re: Why didn't satoshi use PoW for something else?
by
bob123
on 17/10/2018, 16:05:03 UTC
⭐ Merited by Carlton Banks (5) ,bones261 (2) ,dbshck (2) ,Foxpup (2) ,ETFbitcoin (1)
There are many critics of Bitcoin that argue how "Bitcoin's PoW wastes too much energy".

Such claims are always made by people with hidden agendas or no knowledge at all.

The whole bitcoin network is using a 'huge' amount of energy, yes. But it covers world wide money transfers.
The banking sector does consume WAY more energy. And the money is WAY less secured.

The security behind bitcoins PoW is the key element. And this argument can't be beaten.