Ignoring Bitcoin Power Waste and the Crackdown on Mining it is about to Bring.

[gildarts456]

Proof of Work aka Proof of Waste has always been a doomed project.
...
Proof of Stake aka Proof of Sustainability has always been the solution.

Proof of Stake is not trust minimized by design and isn't any different from any permissioned database where someone has to let you in and decide how much control you get.
You literally cannot enter into proof of stake as an independent without someone choosing to permit you access by choosing to give up some coins to give you or sell you.

Without permissionless entry you cannot guarantee a single trusted party or a trusted party of insiders at that point can't prevent anyone independent who disagrees with them from entering which renders it permanently centralized in control to internal party (from time it starts)

Proof of Work is the only known solution for this at this point as it's based on unfakeable metrics outside of the network that not only lets anyone enter but forces costs on them so they give up coins to even more people. Proof of Stake is entirely internal and thus not safe.

Additionally, on top of being permissioned by design, staking reward is literally incentivised centralization of control. You can grow % you control by staking by taking advantage of the fact that anyone not staking loses control.

Additionally, Proof of Work difficulty adjustments on average guarantee miner costs are approximately equal to their reward, it incentivizes the sale of coins to cover those costs which leads to improved distribution of control and miners reliance on the markets made of users to buy those coins from them at high value. Misbehavior by miners on any chain or fork would be met with decline in dollar value of rewards they depend on and thus cost them ability to cover their sunk costs. Proof of stake has no mechanism to incentivize stake owners would want to sell any coins.

Additionally, Proof of Work equipment ages out and causes massive costs of equipment to be continuously paid by miners, not just electricity. This allows replacement of miners who were unable to cover their costs over time and most attacks are expensive can be waited out. Proof of Stake holders can hold on forever.

So let's summarize:

Proof of stake allows permanent control with no incentive to give it up, the payouts actually reward growth of centralized control, entire system is always permissioned, and thus cannot be trust minimized or decentralized.

Proof of Work costs energy and yet is the best and only solution for Bitcoin we know of that has none of the above mistakes.

[franky1]

if you take a s17 (70thash) and look at the 70,000,000thash hashrate (1mill asics min)

and then see news of '7000 asics' thats 0.7%
not much of a crackdown

also the so called crackdown is not the big farms. but hobbiests of 1-5 asics each who dont do proper regulatory granted electricity contracts. its people using the 'residential allotment of electric for non-residential purposes (running a business without declaring)

the proper asic farms do have contracts with power companies..
this topics news is about hobby miners not farms

people with 1-5 asics are not  farm, they are more like hanging basket gardeners

[CryptoBry]

Of course, the issue of power consumption relative to Bitcoin mining will always be an issue of concern all because not all places can be able to accommodate the demand of power by this industry. That is why some locations in China are already feeling the heat since mining is taking a big slice of the available supply. Now, this would not be an issue with places with excessive power availability. However, because of this problem, there are now many viable projects that are also sourcing their own power supplies and many of them are using renewable alternatives like solar, wind and hydro. I remember that there are two big projects located in Texas which are using solar power for their own needs. Maybe as long as there is money to be made here, mining will be adopting to whatever problems or challenges at hand.

[Ailmand]

It has been a long time issue, bitcoin farming and environmental issues, energy waste, etc. I guess it all goes down to regulations, there are some mining farms that use natural energy and not to mention that everything consumes energy and resources. Creating plastic money such as debit/credit cards requires resources and energy, creating fiat, atm machines, bank operations requires the same.