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@Wen the story of Bitcoin burning vast amounts of power is false, though, based on a misrepresentation of how Bitcoin works.
We really need to stop promoting that narrative.
Yes, it gets clicks for websites, but it's not actually true.
Bitcoin can operate on a car battery and solar power. THAT's what Bitcoin burns.
Other people trade extra power for Bitcoin because it's proven so valuable to them, but that's not Bitcoin's fault.
It's like blaming art for the amount someone might pay for a Picasso.
@Wen but that's simply not the case.
The increase in work only happens if the coin increases in value. If the coin decreases in value then the work decreases.
It goes to highlight how much people misunderstand how the system works, from its core.
@volkris I am sorry you are talking nonsense. Proof by work is a silly idea, and it gets sillier as the overall effect is to increase the work for proof as time goes on. Your argument about power economics is so weak, I don’t you can find a properly argued justification for it.