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A comment on Blockchains: How They Work and Why They’ll Change the World. Parent comment

Re:Blockchains: How They Work and Why They’ll Change the World by spookthesunset on Thursday October 05, 2017 @10:21AM (#15409380)
> this system is free.

Free? Who pays for the blockchain? Last I looked into it, each transaction requires about enough electricity to power a house for an entire day. That isn't very free.

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Re:Blockchains: How They Work and Why They’ll Change the World by DennisP on Thursday October 05, 2017 @01:36PM (#15410938)
That's an average including all the mining rewards, it's not actually paid by people issuing transactions. A simple transaction on Ethereum costs about a penny.

I agree the energy consumption of present-day blockchains is a problem; hopefully proof of stake will fix it.

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Re:Blockchains: How They Work and Why They’ll Change the World by Mithorium on Thursday October 05, 2017 @03:03PM (#15411725)
http://www.truthcoin.info/blog/pow-cheapest/

regarding proof of stake

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Re:Blockchains: How They Work and Why They’ll Change the World by DennisP on Thursday October 05, 2017 @03:04PM (#15411737)
https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ

for counterarguments

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