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To be clear here: twitter.com/SquawkCNBC/sta 1) There are lots of advantages to PoW. Its security is less reliant on historical ordering than PoS, it's in some cases harder to quickly buy scale to attack, harder to hedge attacks, etc.

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Squawk Box

@SquawkCNBC

Jul 27, 2021

Official

"It's the responsible thing to do to mitigate to the extent you can," says @SBF_Alameda on @FTX_Official climate pledge. "There are only two major cryptocurrencies that have large energy usage. It's #bitcoin and #ethereum...proof of work is where all the energy usage comes from."

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2:28 PM · Jul 27, 2021Twitter Web App

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2) BTC (soon) being the only top 5 coin with PoW sets it apart, some senses in a good way, for the above reasons 3) The energy use is the security method of PoW, so you can't remove that and keep PoW. 4) That being said, it *does* use a lot of energy, and that does have a cost

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SBF

@SBF_FTX

Jul 27, 2021

5) I'm not trying to make claims about whether that cost is worth it -- just that it's a fact that most of the impact comes from it 6) You could use e.g. L2s, lightning, etc. to make tx's cheaper, both in money and in energy 7) Either way, it's relevant for calculating impact

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Shouldn't attacks be easier on PoS? Creating energy is much harder than pooling a stake? Personally, I like that someday #BTC will be the only PoW chain. I trust math not people.

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Hathor is also pow 👀 and it's Merged-mined with BTC

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Sam is more a trader than a btc or crypto maxi. It was obvious before and we shouldn't be surprised. I mean that's why he founded FTX, Alameda and Serum...