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RE: Why Proof of Work (POW) is not a sustainable long term solution [ENERGY CRISIS]

in #bitcoin7 years ago

I don't know.. I don't like the energy waste of PoW, and I personally kind of prefer PoS too. However, PoS is much more reliant on people's belief in the value of the coin in order to keep staking it. Once people stop believing in one coin they may gradually switch to another coin. While this applies to all markets, including PoW, the fact that it does require massive amounts of energy to produce a single bitcoin, does in a sense, does attach a real-world production cost (and therefore value) to the coin.