global warming.
“proof of work” based solutions to the “Problem of the Byzantine Kings” will always require ever-increasing *USELESS* workloads as long as blocks of transactions are confirmed. When the last 20 million BTC have been mined, the transaction fees may need to rise, but there’s nothing stopping the Ponzis from making another pyramid chain gang ;) ICO baby.
That hardware has to be used for something!
We already see BTC in particular using the electrical power equivalent of any of 20 European countries.
https://thenextweb.com/hardfork/2017/11/23/bitcoin-mining-electricity-africa/
Ginormous amounts of power idling doing NOTHING but helping kill life as we know it, faster.
(OLD link from 2017 https://www.extremetech.com/extreme/259882-bitcoin-mining-now-uses-power-159-countries)
https://www.wired.co.uk/article/bitcoin-mining-energy-consumption-new-york
We
It’s immoral to pretend that “proof of work”-based coin designs are anything other than a flawed design.
The same banking infrastructure is ALSO additionally required in a world where fiat literally reigns supreme, and this was never planned to be supplanted but rather added-to.
And no, I don’t have any other crypto-currency solutions to this age-old mathematical problem, nor do I sell anything even related.
I hate to break the fanboy bubble, but the very notion that this issue escaped Satoshi indicates that his origin is decidedly NOT Japanese.