Re:Ethereum will use around 99.95% less energy post merge
by rcMgD2BwE72F on Tuesday May 18, 2021 @12:16PM
(#27196827)
I'm sure jet setters consider their private jet as a basic need, too.
What's interesting, is that you can gather ~300 random citizens - including jet setters and cryptofans - and let them think about it for two years in order to decide what they considered as basic needs, on a consensus basis. And then, we can organize a vote (e.g a referendum) to make sure society finds a common ground on this (just like we do for most things, such as banning crime).
See https://en.wikipedia.org/wiki/Citizens_Convention_for_Climat... for a good example.
I bet PoW would be far down the list of basic needs but it might, still. I like democracy (where people vote, not their fortune).
I do not believe consensus mechanism other than PoW can provide enough security for a cryptocurrency