The idea of blockchain was already in a whitepaper that came out in late 90s, but did not address the double spend problem.
BTC got implemented and was usable because it solved the double spend problem. I am not sure if others had already solved this problem before this (hard to imagine no one had come up with a solution).
You are damn right about the ENDLESS amount of energy. That is the biggest obvious flaw in the idea of bitcoin.
A digital currency should represent potential energy, not energy already expended simply to prove that you did not double spend the coin you had.
The energy usage of Bitcoin is a feature, not a bug.
It creates an incentive for seeking out the most efficient energy sources. It turns greed into a productive value. Miners look for the cheapest energy possible, they do not benefit from being wasteful.
The idea of blockchain was already in a whitepaper that came out in late 90s, but did not address the double spend problem.
BTC got implemented and was usable because it solved the double spend problem. I am not sure if others had already solved this problem before this (hard to imagine no one had come up with a solution).
You are damn right about the ENDLESS amount of energy. That is the biggest obvious flaw in the idea of bitcoin.
A digital currency should represent potential energy, not energy already expended simply to prove that you did not double spend the coin you had.
The energy usage of Bitcoin is a feature, not a bug.
It creates an incentive for seeking out the most efficient energy sources. It turns greed into a productive value. Miners look for the cheapest energy possible, they do not benefit from being wasteful.