Quote from: jseverson on November 13, 2019, 03:06:33 AM

Quote from: Khaos77 on November 13, 2019, 02:17:17 AM

YES , Bitcoin energy waste is an indicator of it's failure to improve.

The energy is being spent on securing one of the most secure networks in the world, so it's not necessarily being wasted. I think we can all agree that we should always be pushing for improvements, but who's to say that proof of stake is an actual improvement? It certainly has its merits, but also comes with just as many, if not more problems. Switching problems with other problems isn't a solution.

I do agree that we should look into replacing proof of work, but only when we have something that is clearly better. In the meantime, if it's not broken, then don't fix it; proof of work is in place to protect the network, and it has done that perfectly well thus far.

No the energy spent on bitcoin mining is not securing the coin.

The Top 4 Mining Pool Operators are Securing Bitcoin,
as they control more than 51% for years no matter what the individual miners waste on electricity.

People claim PoS has more problems,
but the truth is, it fixes the majority of bitcoin's PoW problems.

Bitcoin is broken, which is always apparent when transactions increase and the fees skyrocket.
Which the way users handle now is to just stop using it , until fees decrease, that is in no way a reliable service for global finance.
Notice Bitcoin peaked at $20K thru manipulation by tether founders ~2 years ago, what you are seeing now is dead cat bounces , which people throw all of their hope on, but the march is still downward. Bitcoin price will continue to decrease and the bitcoin nutjobs will continue calling it a buying opportunity until the very end.