Re:Ending Bitcoin Support
by walterbell on Tuesday January 23, 2018 @05:01PM
(#16218195)
It's not excess/surplus when computed on mining-specific ASICs.
Re:Ending Bitcoin Support
by smogcutter on Tuesday January 23, 2018 @05:39PM
(#16218549)
On the contrary, it's even more so (with regard to this line of argument). That capital could've become any number of things instead.
Edit for less smug more content: sacrifice is an interesting lens through which to look at bitcoin. You could argue that burning "excess" compute power is the real point, not the tokens.