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A comment on Texas paid Bitcoin miner Riot $31.7M to shut down in August. Parent comment

Re:Texas paid Bitcoin miner Riot $31.7M to shut down in August by eniotna on Thursday September 07, 2023 @01:20PM (#37422333)
It doesn't, proof of work is what makes Bitcoin unique. (1) Having to spend physical resources better aligns incentives (2) Proof of work is decentralized and fair

It's a worthwhile tradeoff.

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Re:Texas paid Bitcoin miner Riot $31.7M to shut down in August by mrguyorama on Thursday September 07, 2023 @01:31PM (#37422510)
Proof of work explicitly gives those with more resources more power. How is that "fair"? Bitcoiners complain that staking systems are somehow worse, but it's the exact same dynamic, just one uses less electricity.
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Re:Texas paid Bitcoin miner Riot $31.7M to shut down in August by DANmode on Friday September 08, 2023 @08:03PM (#37440834)
BTC doesn't purport to fix "dog-eat-dog" or "might is right" in human society, but does "fix" governments being able to manipulate the value, supply etc of money.
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Re:Texas paid Bitcoin miner Riot $31.7M to shut down in August by MerelyMortal on Thursday September 07, 2023 @02:31PM (#37423490)
What makes it unique is the name recognition. It wasn't the first project to use proof of work, and it wasn't the last either.
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Re:Texas paid Bitcoin miner Riot $31.7M to shut down in August by gardenhedge on Thursday September 07, 2023 @08:02PM (#37427435)
What was the first?
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Re:Texas paid Bitcoin miner Riot $31.7M to shut down in August by e9 on Thursday September 07, 2023 @10:08PM (#37428402)
Gold etc You have to apply physical work to dig it out etc
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Re:Texas paid Bitcoin miner Riot $31.7M to shut down in August by MerelyMortal on Friday September 08, 2023 @01:57PM (#37437043)
Hashcash
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Re:Texas paid Bitcoin miner Riot $31.7M to shut down in August by Frannyies on Thursday September 07, 2023 @05:13PM (#37425666)
It's not as you can't control the dezentralizatiin.

50% attack is real.

The best is our grown PoS system we currently call us dollar, euros etc.

Bitcoin not even solved the account recovery feature or any fraud protection.

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