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0 pointspkulak12y ago0 comments

I'm aware of what mining is. And you're not just signing a block. No one would be making custom ASICs and putting server farms near hydro-electric plants if all you had to do was sign a block. You're paying people to do useless work and it's silly.

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shultays12y ago

You lose resources to create paper currencies, I don't see how two things are different

pkulakOP12y ago

Because you lose far more with Bitcoin. Bitcoin is currently doing as many transactions as a small community credit union, but it's got server farms all over the world and thousands of individual computers and ASICs running 24/7 to "secure" it. It's totally out of control.

nicky012y ago

How else would you propose securing the network?

pkulakOP12y ago

Proof of stake. Or figure out something totally new. I'm not proposing a solution, just the problem. My gut tells me there is a solution though.

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0 pointspkulak12y ago0 comments

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shultays12y ago

You lose resources to create paper currencies, I don't see how two things are different

pkulakOP12y ago

nicky012y ago

How else would you propose securing the network?

pkulakOP12y ago

Proof of stake. Or figure out something totally new. I'm not proposing a solution, just the problem. My gut tells me there is a solution though.

j / k navigate · click thread line to collapse