Re: There is a Race For an Internet-Native Currency, and Bitcoin is Leading It.
Even PoW consume too much energy, It is still worth it
as it makes BTC more valuable. Same as gold mining which consume oil and power just to mine it.
as it makes BTC more valuable. Same as gold mining which consume oil and power just to mine it.
make up your mind! Proof-of-work does consume energy (duhhhh), and contributes to why Bitcoin is valuable. But if you can see that, how can it be "consuming too much"?
Without PoW, a blockchain would be pretty pointless. Miners could remine the whole chain from the first ever block in minutes/hours, there'd be millions of blockchains trying to pretend each were the real chain. None of the data on the chain would ever be safe, and so no-one would use the system.
There is a point I also keep finding myself wondering why people complain about "too much energy". Like when people say avoid plane travel because it is too much energy but something that saves time and lets people connect is not a high cost if you think about it. Maybe people should switch off computers because it is too much energy.
And with BTC mining people keep forgetting the benefit, they only remember the cost.