Quote from: Epictetus on Today at 04:19:49 AM

Hi Larry,

I do see your point very well.
But I think the question is a bit more philosophical: Just because we have a machine does this means that we need to use it at all cost and all the time?
We don't use our Laptop / Car all the time just because we bought them. We only use them when we need them.

That's because at least in the way you are describing it, a laptop or car is something for personal use. Just like a toothbrush.

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Although the mining hardware is there, we still need Electricity to make it work. So the question now what is the tradeoff between electricity consumption and the hardware usage over a long run ?
It is known that the intensive usage of a hardware make it wear quickly.
So We can see TRPoW as way of reducing usage of mining machines which will make them last longer.

I think bitcoin miners are more than capable managing their hardware and determining the optimal settings to run it at.

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For the sake of argument, let's say Round 1 lasts 2min each 10min of Block Time. This means that the mining machines will be used 20% of the time. We can hope this will extend their lifetime by a factor of 5!

I looked up a stat that said the mining difficulty increased by 45% in the last 90 days. it probably doesn't always increase at such a large rate but i think it's safe to say it is always getting bigger. harder. now. given that, one would expect bitcoin miners to want to get the most out of their hardware for the limited amount of time it has until it becomes unprofitable to run any longer. no one is going to extend their hardware's lifetime by a factor of 5 since it will become unprofitable long before that time ever comes.

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I know the equation is not linear. Which will help the environment by reducing the machines production and the electricity consumption. The other benefit is against the Selfish mining attack.
TRPoW will make Bitcoin great again!!!

What do you thing?

I think it's great just how it is regarding Proof of work. But I'm always interested to learn of other blockchains using alternatives to pure proof of work. Like chiacoin. Grin