BitcoinTalk Forum
Re: On The Longer-Term Potential For Bitcoin
Satoshi explains why Bitcoin's proof-of-work is not wasteful, comparing it to the overhead of traditional banking and arguing that the energy expenditure is far less.
2 entries
Satoshi explains why Bitcoin's proof-of-work is not wasteful, comparing it to the overhead of traditional banking and arguing that the energy expenditure is far less.
Satoshi discusses the concept of Bitcoin banks, explaining that trusted third parties can provide convenience while the underlying system remains trustless.