Topic: Another on topic post deleted !?! (Read 275 times)

It's not advertising and have correlation with topic, even though i doubt people would understand what he's trying to tell without check the links. Read both thread's topic and link/source carefully next time.

It's not advertising and have correlation with topic, even though i doubt people would understand what he's trying to tell without check the links. Read both thread's topic and link/source carefully next time.


Only you and very few member know about your custom. I'd bet it's deleted because reporter and moderator don't know about your custom.

I'd suggest add message such as "p.s. will add additional information later" on bottom of your post. Sometimes i do that when i want to give lots of information and my post never deleted.


No, even few members who against LN (but have knowledge & bring argument with facts) is welcome here.

You basically advertising an altcoin (which is also advertised in you signature btw) in a discussion, without any explanation about it and why it is relevant.

It is nice to see it is deleted.
 
If you want people to cluck on your links, try to be more informative.

The energy used in PoW must be "wasted".

Because of the difficulty adjustment and the economic incentives, the equilibrium cost of PoW approaches the value of the block reward. Even if the result of PoW is useful, then the cost of the "wasted" PoW will still approach the value of the block reward. So, nothing is accomplished by making the PoW generate something useful.

Let me demonstrate by example:

Suppose a hash rate of 1 exahash per block costs 1 BTC in energy costs and earns 1 BTC per block on average. In this case, 1 BTC worth of energy is "wasted".

Now suppose that a use for hashes is found and 1 exahash can be sold for 0.5 BTC. We can now say that only 0.5 BTC worth of energy is "wasted". Not so fast. Mining costs 1 BTC per block, but now earns 1.5 BTC so miners will certainly increase their capacity in order to make more money.

In this scenario, miners will double their hash rate on average. Note that the difficulty will also double because the total hash rate has doubled.

Now, 2 exahash per block costs 2 BTC, but it earns 1 BTC per block plus the hashes sell for 1 BTC. As you can see, we are back where we started where 1 BTC worth of energy is "wasted", even though mining also generates something with value.

In case you were wondering, the case where hashes initially sell for more than the value of the block reward also gives the same results, assuming a normal demand curve.