At $400 Million a Year, Academic Argues Bitcoin Mining Worth the CostThe University College London’s blockchain research center has found that bitcoin's current proof-of-work (PoW) mining costs are necessary to maintain the network's trustless and decentralized nature.
In a recent research note, Tomaso Aste, a professor of complexity sciences and director of the UCL's Centre for Blockchain Technologies, offers a rough measure for calculating the "equilibrium fair cost" of bitcoin’s PoW system, suggesting that this fair cost per block is roughly $10,000 – less than the current amount earned by discovering a block today.....
http://www.coindesk.com/400-million-year-researcher-argues-bitcoin-mining-worth-cost/?utm_content
