In both cases there is a limit to participation by the flawed design.
To be more sustainable and democratic the algorithm should allow everyone to participate without limit
and not favoring persons or entities with more money, otherwise is not better that the current fiat (financial) system.
I hope that sooner or later someone will find a better algorithm and protocol that will achieve this
but until then we have to live with what we have.
I liked you're reply. Thanks! Isn't there anything at the moment that similar to BTC but that has transaction acceptable for day to day use (like in a second or something), and that doesn't need an ASIC to be validated, but the computational power of a good phone or a normal pc, with a random reward? So big companies will not be that interested in the validation process if everyone could validate transaction just having their phone turned on (that they have anyway btw
The gaming industry requires way more GPUs than Bitcoin technology. Companies with big infrastructures require frequent upgrades and updates in their machinery.
You should compare apples to apples, not apples with oranges. From a sustainability point of Visa wins over BTC for example. For one BTC transactions I could make hundreds of thousands with the same energy consumption. If I want to mine BTC at this moment at home just for "believing in it" I will lose money in electricity everyday and polluting the environment for no reason
We’ve been here before with green energy zealots. Bitcoin really doesn’t use that much energy, if you don’t like the way it works you’re welcome to crowdfund to fork it & do your own thing. The anti Bitcoin power consumption rhetoric is dead, you’ll have to find something else to FUD about.
It would be cool to crowdfund to fork it right? Thanks for the reply. Denying that bitcoin doesn't use that much energy it is a bit like saying that you believe that the earth is flat. There are trustable sources online that states that it uses more energy than entire countries. And it is not still that spread worldwide, imagine if everyone uses it multiple times a day. Maybe when it was thought the environmental impact of the technology wasn't taken into account? I like BTC over any other fiat currency, and satoshi and the community in general did a great job, but is it perfect? Can it be improved with this in mind? Is there anyone in the community working on it? or the "zealots" as you say are gone?