[2015-11-03] Bitcoin Doesn’t Waste Electricity, It’s Used for Security

[LiteCoinGuy]

Bitcoin Doesn’t Waste Electricity, It’s Used for Security

A common criticism often thrown at Bitcoin is its heavy use of computing power, which in turn requires a large amount of energy. Some critics of the system believe that power is being wasted on useless computations that don’t contribute much at all to society, but this line of thinking misses the point of why Bitcoin works in the first place. Mastering Bitcoin author Andreas Antonopoulos gave a talk on consensus algorithms and Bitcoin at University College London (UCL) over the summer, where he argued against this common misconception about Bitcoin’s supposed wastefulness.

https://bitcoinmagazine.com/articles/bi ... 1446482572