[Cryptography] One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week

Benjamin Kreuter brk7bx at virginia.edu
Tue Nov 7 21:08:17 EST 2017

On Wed, 2017-11-08 at 01:21 +0200, Ismail Kizir wrote:

> For years, I've been following bitcoin and discussions on this group.
> I think, bitcoin, has a very good goal: "Decentralisation of money".

Cash is a decentralized payment system, and we already know how to
achieve the same thing cryptographically if we are willing to assume
the presence of a bank (in fact we can achieve much more than Bitcoin
in that case).  The goal of Bitcoin was originally to eliminate banks
from the monetary system; decentralized payments are merely a
consequence of that.

-- Ben

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