On Mon, Aug 1, 2022 at 10:24 AM Telmo Menezes <[email protected]> wrote:
>> Bitcoin is between a rock and a hard place. If the number of miners is >> reduced the energy efficiency increases but the security declines because >> it allows the elite to spend one of their Bitcoins and keep it too. If the >> number of miners is increased the security gets better but the energy >> required to complete an economic transaction increases. If you use Bitcoin >> or anything like it and you want honesty then you're going to have to >> expend a ridiculous amount of energy every time you buy a candy bar. > > > *> This is not how it works. Each mining attempt also tries to fulfill the > outstanding transactions in the network -- or at least the ones that pay > what the miner considers to be an acceptable fee. Each block contains many > transactions.* > If verifying a block takes an exponentially increasing amount of energy that asymptotically approaches infinity, and if a block is made up of many small transactions, then processing a small transaction will take an exponentially increasing amount of energy that asymptotically approaches infinity. John K Clark See what's on my new list at Extropolis <https://groups.google.com/g/extropolis> vab -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/everything-list/CAJPayv11yFR_2k9F3pefNjVvnPc4NUryw1K5o3LQdR_YVE%2BFkw%40mail.gmail.com.
