Re: Energy Use: "Ultimately Proof of Work = Proof of Stake" ??
Can anyone explain how bitcoin's current PoW would ultimately result in the same energy use as PoS? Everything I have heard, except the interview below seems to say that PoS uses less energy than PoW.
During a recent Bloomberg TV interview, Caitlin Long, the CEO of Wyoming based digital asset bank Avanti, stated “There is really no difference in the ultimate energy use between proof of work and proof of stake. I had to laugh out loud when I saw Elon Musk’s tweet today.”
https://ecoaction.io/laughing-at-musk-talking-out-of-your-a-award/
I do understand that bitcoin's PoW used way less energy in early 2010 when the difficulty factor was 1, but now that it is over 20 trillion and unlikely to drop significantly, I can't understand Ms. Long's statement. Of course, the interviewers didn't seem to question her assertion and she has many years in the crypto space along with a Harvard Law degree, so maybe I am missing something.
During a recent Bloomberg TV interview, Caitlin Long, the CEO of Wyoming based digital asset bank Avanti, stated “There is really no difference in the ultimate energy use between proof of work and proof of stake. I had to laugh out loud when I saw Elon Musk’s tweet today.”
https://ecoaction.io/laughing-at-musk-talking-out-of-your-a-award/
I do understand that bitcoin's PoW used way less energy in early 2010 when the difficulty factor was 1, but now that it is over 20 trillion and unlikely to drop significantly, I can't understand Ms. Long's statement. Of course, the interviewers didn't seem to question her assertion and she has many years in the crypto space along with a Harvard Law degree, so maybe I am missing something.
Simple explanation , Stupid people go on TV all of the time, talking out of their arses.
She works with the bank Avanti,
Avanti works with Blockstream
https://www.coindesk.com/unpacking-the-avit-avanti-banks-new-digital-asset-being-built-with-blockstream
Blockstream been lying about energy waste, transaction capacity & Proof of stake for years so they can make money off their offchain PoW solutions.
She was probably told that nonsense by a blockstream employee and regurgitated it on TV,
so now the world knows she is clueless on crypto.
Stupid people work in banks too.
