polynya
@polynya
It is pretty clear that Bitcoin as a blockchain is a colossal waste of energy. As BTC custody continues centralizing to a few ETFs, CEXs, institutions, in the long term >50% of BTC will be held by a handful of organisations Might as well just cancel PoW and move to PoA at that point. It would actually be *more decentralized* as PoW will inevitably centralize over to a handful of industrial players and pools due to crippling economies of scale. Plus, it'll solve the security budget problem. As before, the full nodes will be there as the last line of defence irrespective The only thing matters for BTC is it remains a speculative store-of-value, doesn't matter the mechanism to achieve that https://x.com/i/trending/1885868663116296256
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Babooun
@babooun
As a former smart grid researcher and electricity ⚡️ trader I can tell that electricity consumption impacts and dynamics are not intuitive at all. Bitcoin miners are the perfect electricity clients, they provide very valuable technical and economical services for the grid. Why? because they can stop and go like no other and have a hard incentive to buy cheap electricity, they serve as surplus taker —> They buy all waste electricity ⚡️! This helps regulate the grid, it helps for renewable integration and it can help finance new production assets (there are good Harvard and Cornell research papers about it). To be 100% fair DePin and asynchronous computing could provide the same services to the grid with better utility and I believe it will to some extent.
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