the entire Bitcoin block chain could be run on the phone I'm using to write this. there is nothing inherent to the protocol that dictates such massive power use.
and dogecoin merge mines with all the other script coins so how can you even calculate its independent usage?
there is nothing inherent to the protocol that dictates such massive power use.
Yes there is, massive power use is the entire point of proof-of-work. If Bitcoin blocks could be produced without massive power use then the blockchain's system of validation would fail and 51% attacks would be trivial.
>it’s been in steady decline since the meme blew up.
it got a pretty big bump from elon a couple years back, but dogecoin is nearly perfect money. it isn't deflationary, it's cheap to transact, and the on-ramps are ubiquitous.
eager_eagle@lemmy.world 7 months ago
ah yes the 10th place - still, Doge is estimated to use ~1% of the energy Bitcoin uses.
bigMouthCommie@kolektiva.social 7 months ago
the entire Bitcoin block chain could be run on the phone I'm using to write this. there is nothing inherent to the protocol that dictates such massive power use.
and dogecoin merge mines with all the other script coins so how can you even calculate its independent usage?
FaceDeer@kbin.social 7 months ago
Yes there is, massive power use is the entire point of proof-of-work. If Bitcoin blocks could be produced without massive power use then the blockchain's system of validation would fail and 51% attacks would be trivial.
eager_eagle@lemmy.world 7 months ago
idk their methodology - source
bigMouthCommie@kolektiva.social 7 months ago
if they don't explain their methodology, there is no reason to believe they got it right
bigMouthCommie@kolektiva.social 7 months ago
>it’s been in steady decline since the meme blew up.
it got a pretty big bump from elon a couple years back, but dogecoin is nearly perfect money. it isn't deflationary, it's cheap to transact, and the on-ramps are ubiquitous.