When I first started yelling at people about this five years ago they told me Ethereum was halfway there to displacing proof-of-work with proof-of-stake ("halfway" because of the fork with Ethereum Classic) Since then, they've gone from halfway to zerohttps://twitter.com/beakfriends/status/1366193100226461698?s=20 …
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If you don't know what that means... good Basically they kept saying there's a complicated math way to do Bitcoiny stuff *without* constantly burning massive amounts of power But everyone who's promised to do it has abandoned it Because no one actually gives a shit
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Bitcoin stalwarts sneering at all the "altcoins" as a waste of time say that proof-of-work is essential because "no other method has the concept of scarcity scaling to demand baked right in" I think they are correct, and this is also why they are fundamentally evil
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Mining Bitcoin *has to be* something that gets harder and harder to do the more people are trying to do it, and the only way to enforce this and make it impossible to get around is to make the difficulty based on burning real physical resources
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It makes perfect sense as the only really logical way to accomplish Bitcoin's goals, and that's why its goals are evil
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Replying to @arthur_affect
There is one project that wants to commit that power toward research called BOINC, but it never caught on and doesn't have the absurd volatility bitcoin has always had, which is what coin fanatics really want.
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I actually tried mining Gridcoin for a while and I never made more money than I could've by using the same computing resources to, I dunno, play FPSes continuously until after six months of gaming I suddenly notice a nickel on the floor I didn't see before
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