I have questioned this ever since I learned that the more adoption there is, the less efficient mining becomes, ergo more power is wasted accomplishing the exact same task for no extra benefit. Difficulty creates a back asswards system that makes adoption a con.
The idea was great, but it was ruined by greed.
I have questioned this ever since I learned that the more adoption there is, the less efficient mining becomes, ergo more power is wasted accomplishing the exact same task for no extra benefit. Difficulty creates a back asswards system that makes adoption a con.
Mining is only one strategy for concenous, but yes it is a pretty rudementary and inefficient version.
And even in mining there are different protocols, Bitcoin is just intentionally inefficient 🤷
Well it’s been over a decade and Bitcoin is still PoW, as well as nearly 50% of the entire crypto market.
Ok… that doesn’t make what they said any less true?
It’s always been a solution to a problem that doesn’t exist.
[greed!] The cause of and solution to all of our problems
This sounds like everything ever.
Having a huge penis got worse the greedier I was
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