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Cake day: Nov 26, 2020

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Excellent post.

PoW energy consumption is an Achilles’ heel.

https://digiconomist.net/bitcoin-energy-consumption/



PoW requires an enormous amount of electricity and specialized hardware.

It is not very decentralized, and PoW is an easy target for nation states to attack. 70% of Bitcoin mining takes place in China. China is in control.

When Bitcoin was small and you could run a miner in a closet, PoW was fine. Now it needs as many power plants as the country of Chile.

There is no way PoW is sustainable and won’t be a target of nation states.

https://digiconomist.net/bitcoin-energy-consumption/