What stops governments from printing billions or trillions of dollars of fiat currencies to control or attack the network in proofs of stake model? To be honest with you it is pretty easy to attack a proof of stake network if you have access to fiat printing machines..
I would not use either of them. There are better and more efficient mechanism that can be used
Topic: ⚡Bitcoin and Ethereum's Energy Consumption⚡ - page 2. (Read 349 times)
energy consumption should not be looked at alone, instead it should be looked at alongside the utility that is provided after the consumption. for instance you can't say my car is consuming a lot of energy because it is burning fossil fuel and emits pollution, you have to look at its utility which is to take me to long distances.
for bitcoin, when it is a global decentralized currency handling millions of dollars worth of money transfers all around the world per day, you can see how the energy consumption makes a lot of sense. and not just that, it would see very little compared to what it provides.
similarly for altcoins that have no use cases but to be traded (pumped and dumped on exchanges) any power consumption is excessive because they provide no useful utilities.
for bitcoin, when it is a global decentralized currency handling millions of dollars worth of money transfers all around the world per day, you can see how the energy consumption makes a lot of sense. and not just that, it would see very little compared to what it provides.
similarly for altcoins that have no use cases but to be traded (pumped and dumped on exchanges) any power consumption is excessive because they provide no useful utilities.
Most people will simply buy bitcoin and sell when it increases to make passive money, instead of running a miner.
Someone who's not capable on investing on miners and his location isn't ideal for mining, this is the best option. But do you think miners will continue mining if there's no benefit from them?If I have the capacity and the best location, I will not have a second thought of investing into it. I guess these mining farms does have a source for alternative energy.
The full report for free > https://www.forrestvisions.com/blog/bitcoin-and-ethereums-energy-consumption
With this high barrier to enter the market, it puts a lot of centralization on these mining pools. Most people will simply buy bitcoin and sell when it increases to make passive money, instead of running a miner.
What are your thoughts on the energy consumption ecosystem right now?
With this high barrier to enter the market, it puts a lot of centralization on these mining pools. Most people will simply buy bitcoin and sell when it increases to make passive money, instead of running a miner.
What are your thoughts on the energy consumption ecosystem right now?
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