not everyone is merge-mining and even those who do may only be merge-mining specific chains.
what’s the problem of estimating based on mined blocks and difficulty?
bigMouthCommie@kolektiva.social 11 months ago
bigMouthCommie@kolektiva.social 11 months ago
the work that goes into mining those blocks should be discounted by the amount of energy that goes into mining every other merge-mined chain
eager_eagle@lemmy.world 11 months ago
ok, so either ~1% figure already discounts this energy due to merge-mining, or it doesn’t discount and the effective energy consumption is lower. The original point remains: Bitcoin is pretty much the energetic problem of crypto.
bigMouthCommie@kolektiva.social 11 months ago
asic miners are the problem with crypto's energy consumption. nothing is wrong the the bitcoin protocol, which is functioning as expected.
eager_eagle@lemmy.world 11 months ago
it’s just that PoW is trash when applied at scale for encouraging energy waste - and that’s by design - so indeed, “there’s something wrong with the protocol”.
bigMouthCommie@kolektiva.social 11 months ago
it's a bit like clocking your gas mileage to and from work, and then saying thats how much gas it took you to get out of your driveway.