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RE: Bitcoin’s energy consumption is a huge problem and that is why I’m investing in Gridcoin.

in #gridcoin6 years ago

No, PoW is unsustainable.
The more important the blockchain gets, the more you need to invest to keep it running. It is a constant, maybe even increasing overhead.

And that is not new, Satoshi Nakamoto already at the start conceded that in the future Bitcoin has to change to more sustainable methods. Which is (technically) possible, but the miner's interest is too strong.

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There have been some interesting proposals like fruitchain, a chain that is fair and prevent mining pools. The beauty of PoW, compared to POS and other consensus, is that it is pretty easy to constraint the security to some energy cost.

Too bad useful PoW is not widely spread.

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