Removing the Waste from Cryptocurrencies: Challenges and More Challenges

[cylonmaker2053]

https://www.youtube.com/watch?v=zZaB4hM8SQ4

Bram Cohen, creator of BitTorrent, spoke on the challenges of removing the waste from cryptocurrencies:

"Expending electricity on unproductive work is inherent to Bitcoin's security. Multiple approaches to eliminating this have been proposed, none of which solve the problem satisfactorily, and are usually unusable, insecure, or completely fallacious. I'll explain what Bitcoin at core is, why and how much waste there is in it, what approaches to removing that waste are, and how they fail."

Interesting and funny talk. BitShares is mentioned once, but apparently Cohen hasn't looked into it and doesn't know anything about 2.0.

the BTC community is trying to fit a square peg in a round hole, but it's understandable given the massive resources that have already flowed into the system. if Satoshi were to whip up a new crypto currency out of thin air today i doubt he would make it PoW.

[Samupaha]

https://www.youtube.com/watch?v=zZaB4hM8SQ4

Bram Cohen, creator of BitTorrent, spoke on the challenges of removing the waste from cryptocurrencies:

"Expending electricity on unproductive work is inherent to Bitcoin's security. Multiple approaches to eliminating this have been proposed, none of which solve the problem satisfactorily, and are usually unusable, insecure, or completely fallacious. I'll explain what Bitcoin at core is, why and how much waste there is in it, what approaches to removing that waste are, and how they fail."

Interesting and funny talk. BitShares is mentioned once, but apparently Cohen hasn't looked into it and doesn't know anything about 2.0.