Re:BitVM: Compute Anything on Bitcoin [pdf]
by derangedHorse on Tuesday October 17, 2023 @09:18AM
(#37914548)
> It’s economically viable only in the narrow sense that we don’t anticipate the true longterm costs of energy spent.
Why would it be less economically viable with scale? As Bitcoin increases in value, the hashrate and energy usage will increase. If it doesn't, the hashrate and energy usage will stagnate or decrease.
If you think the energy usage is "way out of scale" for the problem it solves, I think you may be underestimating the challenges of developing a decentralized monetary system and the impact of money on society itself.
Why would it be less economically viable with scale? As Bitcoin increases in value, the hashrate and energy usage will increase. If it doesn't, the hashrate and energy usage will stagnate or decrease.
If you think the energy usage is "way out of scale" for the problem it solves, I think you may be underestimating the challenges of developing a decentralized monetary system and the impact of money on society itself.