Post
Topic
Board Development & Technical Discussion
Re: Why exactly is Bitcoin clinging to PoW?
by
zbig001
on 24/06/2021, 13:21:02 UTC
Unlike Bitcoin PoW miners , no one can track a PoS staker location by energy usage.   Wink

Anyone can track the energy consumption of whales that own PoS networks and earn money to secure them.
Earning very well, otherwise they would have moved with their capital elsewhere and PoS networks would be characterized by low security.

That energy consumption occurs when they buy diamond jewelry or expensive shoes for their wives, or when they buy luxury yachts, private jets, luxury mansions, space trips, or pursue their innumerable expensive hobbies.

Global direct consumption of primary energy, both by the defenders of the existing traditional systems of concentration of wealth and power, and their modern cryptocurrency counterparts, is over 140,000 TWh per year (1 TWh equals 1,000,000,000,000 watts).

It is hard to miss even from orbit around the Earth.

Especially when specialized satellites measure how the oceans and Earth are slowly heading to the boiling point.

The only chance to stop the waste of energy and the possible destruction of Earth's life for the temporary benefit of people belonging to the elite is Bitcoin.

Especially if it becomes the backbone of the global monetary system.