Misleading title - the problem is not “crypto”, it’s pretty much all Bitcoin and the people against the change in the consensus mechanism. Out of the top 10 9 coins in market cap, Bitcoin is the only one using proof of work, which demands such high energy requirements.
the entire Bitcoin block chain could be run on the phone I’m using to write this. there is nothing inherent to the protocol that dictates such massive power use.
and dogecoin merge mines with all the other script coins so how can you even calculate its independent usage?
there is nothing inherent to the protocol that dictates such massive power use.
Yes there is, massive power use is the entire point of proof-of-work. If Bitcoin blocks could be produced without massive power use then the blockchain’s system of validation would fail and 51% attacks would be trivial.
the hash rate for the first blocks was achievable with a pentium 3. the protocol functioned then. there is nothing inherent to the protocol that dictates more hashpower is used. a 51% attack is the protocol functioning properly.
That’s because there were just a handful of people mining the first blocks and there was no demand, so the price was basically zero.
The protocol is meant to promote decentralization, so I have no idea how a 51% attack would be an example of the protocol functioning properly. A 51% attack is a demonstration that the protocol is controlled by a single entity.
Misleading title - the problem is not “crypto”, it’s pretty much all Bitcoin and the people against the change in the consensus mechanism. Out of the top
109 coins in market cap, Bitcoin is the only one using proof of work, which demands such high energy requirements.dogecoin is top10
ah yes the 10th place - still, Doge is estimated to use ~1% of the energy Bitcoin uses and it’s been in steady decline since the meme blew up.
the entire Bitcoin block chain could be run on the phone I’m using to write this. there is nothing inherent to the protocol that dictates such massive power use.
and dogecoin merge mines with all the other script coins so how can you even calculate its independent usage?
Yes there is, massive power use is the entire point of proof-of-work. If Bitcoin blocks could be produced without massive power use then the blockchain’s system of validation would fail and 51% attacks would be trivial.
the hash rate for the first blocks was achievable with a pentium 3. the protocol functioned then. there is nothing inherent to the protocol that dictates more hashpower is used. a 51% attack is the protocol functioning properly.
That’s because there were just a handful of people mining the first blocks and there was no demand, so the price was basically zero.
The protocol is meant to promote decentralization, so I have no idea how a 51% attack would be an example of the protocol functioning properly. A 51% attack is a demonstration that the protocol is controlled by a single entity.
a 51% attack means that 51% of the hashpower has agreed on a certain chain. this happens every 10 minutes.
That’s not an “attack.”