Scaling issues aside, a PoW (proof-of-waste) coin will not be replacing the first failed PoW.
You guys realize that the BTC miners are using as much electricity as a smaller western modern country.
All it does is to move the control over the currency to where the electricity is the cheapest, and the company that can develop the most energy-efficient chips.
All this electricity has a price. This price is draining the users of value.
It's the most inefficient payment system bar none. To think that once BTC is out of the way, we would move on to the next giant resource waster is to simply not understand the markets.
all true but if you look into the electricity situation the cheapest is electricity that's otherwise going to waste. they've built mines next to hydro plants in china that churn out power that no one's using.
mining will become more efficient, electricity production will become more sustainable. in portugal recently they last something like three and a half days on pure renewable power recently.
1. No, it's not going to waste. You simply do not build new power plants.
2. If mining becomes more efficient, you simply mine more. You do not choose to mine less to have smaller bills.
3. If energy becomes cheaper, you can do other useful stuff from it, like drive a car. Not waste it completely.
You simply fail to understand that the BTC miners pay at least !!!!!! 6 billion dollars !!!!!! A DAY !!!!!!!!!!!!!!!!!!!!!! Could be towards 20 billion or 40 billion as well, I just took a ridiculously cheap price.
If you do not see a problem with this, I don't know what to say.
