Author: mike at powx.org 2021-05-18 10:59:46
Published on: 2021-05-18T10:59:46+00:00
The conversation between Devrandom and ZmnSCPxj revolves around the concept of proof-of-work (PoW) and its nuances, with Devrandom advocating for a more detailed analysis of alternative PoWs rather than simplifying everything to just another form of PoW. ZmnSCPxj states that economic considerations such as externalities should not be ignored in the debate, particularly in relation to energy consumption. Keagan McClelland points out that alternative PoWs may shift the energy consumption upstream to the chip manufacturing process, but Devrandom challenges this assertion and suggests that CAPEX intensive PoWs may have less negative externalities than energy production. Devrandom also notes that hardware is easily transferable compared to energy, and low energy opow hardware could potentially be sold online to anyone anywhere in the world. This would create a huge latent demand for Bitcoin mining and make it difficult to detect and control low energy mining relative to the ASIC-warehouse-next-to-waterfall model used today.
Updated on: 2023-06-14T22:00:30.165464+00:00