Not denying that there's a HUGE bubble in it with hustlers and suckers. That there's a link between how irrefutable the ledger is and the energy cost/how distributed the miners are is what I find quite interesting. It's…
My second point also includes that people are willing to spend all of this energy for mining because of the Bitcoin value. I'm suggesting that people are in because they distrust the current currency system: The more…
I think it's more that case that it's a transfer mechanism. It transfers the irrefutability of transactions into an energy cost. The reason it consumes so much energy is because people really don't trust each other.
Not denying that there's a HUGE bubble in it with hustlers and suckers. That there's a link between how irrefutable the ledger is and the energy cost/how distributed the miners are is what I find quite interesting. It's…
My second point also includes that people are willing to spend all of this energy for mining because of the Bitcoin value. I'm suggesting that people are in because they distrust the current currency system: The more…
I think it's more that case that it's a transfer mechanism. It transfers the irrefutability of transactions into an energy cost. The reason it consumes so much energy is because people really don't trust each other.