On 27/05/16 15:19, Daniel Kahn Gillmor wrote: > we have to ask the question of who a PoW scheme > protects. It basically privileges those who have access to more compute > power, in an attempt to defend the network against malicious flooders.
PoW is a demonstration that you're willing to waste precious resources performing a calculation of no conceivable utility. It's the IT equivalent of lighting a cigar with a hundred dollar bill. http://motherboard.vice.com/read/bitcoin-is-unsustainable A
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