Post
Topic
Board Development & Technical Discussion
Re: A Two-Round Proof of Work instead of PoW
by
Epictetus
on 18/11/2021, 10:07:55 UTC
Which will help the environment by reducing the machines production

On the contrary. Even if your scheme worked, and you could force miners to sit idle 80% of the time,
that means they'll reinvest the saved electricity costs into buying MUCH MORE hardware to stay competitive.

As long as Bitcoin issues $50M dollar's worth every day, we can expect miners to collectively spend nearly that much money in competing for it.

All you achieve is a shift from electricity costs to hardware costs.


Good point.  High prices will drive competition crazy and we can expect miners to do whatever needed to make more money.