If I use a car that gets 1 mile per gallon to visit my grandma, I'm wasting basically all the gas I buy, despite it getting me to my destination.
Proof of work is waste.
But why though? Is the USD that insecure? Is fraud so prevalent that its debasing the value of currency? Do we literally need to spend 70TWh per year, and that's just in its current state as a semi novelty currency/commodity, to secure the concept of money? Can you imagine how much it would cost to run bitcoin if it was the primary reserve currency of the world?
> Be civil. Don't say things you wouldn't say face-to-face. Don't be snarky. Comments should get more civil and substantive, not less, as a topic gets more divisive.
https://news.ycombinator.com/newsguidelines.html
We're discussing ideas here, there is no reason presuppose others ideas or behave snarkily.
The cycles are not wasted - they secure a digital currency.
Banks and governments use immense resources to secure fiat currency.