PoW is a technical deadend , the majority of new coins all choose more energy efficient designs
Cryptocurrency is about setting money free from banks, governments, trusts, etc. to have this goal fulfilled, bitcoin encourages both
producing and managing money directly by people,
It started that way, but that has been over for years.
PoW mining is only for the mega rich as no one else can afford it.
When did you last mine a bitcoin block with one of your warehouses full of ASICS? believe that energy cost is the basis of security
To be more specific and exact: energy cost is the basis of bitcoin
value.
Interesting , how most countries like China, call it energy waste.
The Ethereum founder has realized that PoW is unsustainable, shame so many are blind to it.
I put it to you like this and honestly think on it before you reply.
Bitcoin Mining drives up the price for energy for everyone, say it hits 1 million dollars per 1 BTC,
So now they are buying the majority of the world energy and driving up your personal rates.
This means your usage of energy has to be reduced, so now explain to your girlfriend, why you can't take her to see her family, because travel is now too expensive, explain to her why heating milk for her baby, or even taking a hot shower or running a heater or an air conditioner uses too much energy and you can't afford it. Now ask yourself , how long is she going to stay with you?
Pos is always piece of shit. It is basically a bond with zero backing. Worse then a junk bond it is a virtual junk bond whose value is based on pure imagination.
Pow is a hard iron gear based or backed coin.
Ie all the warehouses of miners burning power to create the coins.
What you simply don’t understand is the value of burning power to make a coin.
It is real that value and here is a simple example. Niagra Falls has USA and Canadian power plants.
When they are at peak capacity due to high river flow they have enough power to supply all the coin mining in the world. Obviously that is not what happens what happens is many power plants supply many miners all over the world.
I consulted on a 100 mega watt farm built. It was to use power from five plants that surrounded it.
And it was designed to run from 20 to 100 megawatts. It would run 100 megawatts when the power plant had excess power production and it was to run 20 mega watt when power plants were supplying power to other customers ie lots of ac on a hot day.
That service supplied by that farm helps each and every power customer using those five power plants.
Most people that say pow waste power do not understand pow farms can be used to help balance the grid loads all over the world.
A power plant like niagra falls does not shut the river off when the river is flowing high and hard. It simply used to make the excess power and shunt it into the grid.
Ie it wasted that excess power. Pow solves a real problem when used correctly.
Every time I see a thread with people claiming pow wastes power I simply would like to say hammers smash skulls ban them.
The truth is proper use of a hammer to build a home or a shed is good.
The use of pow to help balance the worlds power grid is good.
So the goal would be to encourage proper use of hammers and pow. Nuff said.