by tmalsburg2 on 4/9/24, 12:29 PM with 4 comments
by herendin2 on 4/9/24, 12:57 PM
Quote:
First, coins like Bitcoin, which are based on the proof-of-work algorithm, are likely more energy intensive than mainstream finance. (But note that this intensity seems to be declining with time.) Second, coins like Ethereum, which are based on the proof-of-stake algorithm, are likely (far) less energy intensive than mainstream finance.
So that’s what the data says. But somehow, I feel like this evidence will satisfy neither the crypto critics nor the crypto advocates. And that’s why in the appendix, I add some obligatory speculation. But for now, let’s conclude with just the facts. To date, it seems clear that Satoshi’s claims about Bitcoin’s superior ‘efficiency’ have not come to fruition.