Proof of stake is incapable of producing a consensus

Re:Proof of stake is incapable of producing a consensus by 127 on Sunday November 28, 2021 @05:26AM (#29367779)

Why do people keep propagating this claim that PoW is burning electricity for nothing? It directly provides security for the blockchain. I don't disagree with your arguments general direction, just with this piece of incorrect misinformation.

LED was a technological innovation. Nothing says Bitcoin can't have those. If you want more light, you need more lamps and you need to spend more energy. I don't really see the difference here.

About every 4 years the reward for mining a block will be halved. I don't see LED lights getting two times more efficient every 4 years.

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Re:Proof of stake is incapable of producing a consensus by floatboth on Sunday November 28, 2021 @09:05AM (#29368966)

Because "security of the blockchain" doesn't necessarily mean "good for society". Cryptocurrencies are most widely used for speculation, and then fraud, ransomware, all those very fun and pleasant things.

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Re:Proof of stake is incapable of producing a consensus by 127 on Sunday November 28, 2021 @10:48AM (#29369800)

I thought there was enough historical data to draw the conclusion that command economy doesn't work. I also would appreciate if you could back up your claims on how Bitcoin is used.

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