The idea that bitcoin is 'wasteful' is entirely missing the solution that bitcoin is. Byzantine Generals Problem.
This network is unmatched in it's provability and security.
There is a turing complete machine, operating that can be trusted. Seriously, the possibilities are limitless but guess what, they do have a cost. And there are too many con-artists around. But an industry that is changing the entire monetary policy around world is very impactful. It's changing it and you'll notice in the coming years how much monetary policy is going to change. The grand experiment is about to happen. Are we going back to gold? Are we going to innovate a replacement that's better than crypto? How is 'money' going to function in the 21st century?
P.S. Proof of Stake is terrible in it's economics. If you think rent-seeking is good, then PoS is for you. It's not for me and I think it's terrible based on the game theory of it. Remember the 'We are the 99%' chants? Yeah, not going to go over well.
In a PoW network (read Bitcoin), those that have the currency (satoshis/'sats') don't gain any more sats by just possessing them. The only way to gain more is from either those that have some or to mine more (until 2140).
In a PoS network, those that have the currency can "stake" their possessions to gain more. They don't need to spend in hardware/electricity to mine more. There is a built in function to extract currency.
This network is unmatched in it's provability and security.
There is a turing complete machine, operating that can be trusted. Seriously, the possibilities are limitless but guess what, they do have a cost. And there are too many con-artists around. But an industry that is changing the entire monetary policy around world is very impactful. It's changing it and you'll notice in the coming years how much monetary policy is going to change. The grand experiment is about to happen. Are we going back to gold? Are we going to innovate a replacement that's better than crypto? How is 'money' going to function in the 21st century?
P.S. Proof of Stake is terrible in it's economics. If you think rent-seeking is good, then PoS is for you. It's not for me and I think it's terrible based on the game theory of it. Remember the 'We are the 99%' chants? Yeah, not going to go over well.