How Bitcoin is like American Idol
Everything we buy (with money) we pay for (with energy). There is no such thing as a free lunch.
In this issue:
How Bitcoin is like American Idol
How Bitcoin is like American Idol
“You say that the capital costs of proof-of-stake are just as large as the energy costs of proof-of-work, but energy is only one input into production. It is an empirical question if the capital costs of proof-of-stake are larger or smaller than the costs of proof-of-work. I…