Bitcoin consumes 4,000,000,000 W of power to process four transactions per second. A single Raspberry Pi with a database can do an order of magnitude more on 5W. Think about that next time you wonder if it's a good design.
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Email, TC/IP, and #bitcoin
are all protocols. Technology underpinning email (both hardware & software) has far exceeded linear growth, queue: Sarnoff, More, and Metcalfe laws. To imbue a protocol with a currency is an interesting experiment. Why not watch and learn?
Bingo! 20+ years will do that with innovative technology. Now imagine what bitcoin will be like in another 12 Technology exceeding linear growth is what has allowed progress to happen at a breathtaking pace. This works because that superlinear growth isn't being consumed by built in inefficiency in a bad design.
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Sounds like we both agree that technology is a good thing. While we won’t solve the secrets of super linear growth on this Twitter debate, my bet is someone will build a better miner. Or a better power station.
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That will just cause the difficulty to increase, and you'll wind up wasting the same amount of energy doing more mining. Power usage is effectively pegged to the value of Bitcoin, and transaction throughput is pegged to the fixed block size.
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